BlockPool Announces Token Exchange Campaign for B2B Blockchain Project

B2B Blockchain solutions provider BlockPool has revealed the launch date of its much-awaited BPL token exchange campaign. It will kick off on the 1st of May, and will run until 30th of June, 2017. BlockPool is proposing to offer a diverse range of blockchain applications for all kinds of business verticals. The UK-based organisation has … Continue reading BlockPool Announces Token Exchange Campaign for B2B Blockchain Project

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B2B Blockchain solutions provider BlockPool has revealed the launch date of its much-awaited BPL token exchange campaign. It will kick off on the 1st of May, and will run until 30th of June, 2017. BlockPool is proposing to offer a diverse range of blockchain applications for all kinds of business verticals. The UK-based organisation has … Continue reading BlockPool Announces Token Exchange Campaign for B2B Blockchain Project

The post BlockPool Announces Token Exchange Campaign for B2B Blockchain Project appeared first on NEWSBTC.

R3 Consortium And Hong Kong Monetary Authority Aim to Develop National Digital Currency

Themerkle HK R3 Digital CurrencyIt has been a while since a country’s central bank was looking to issue a nationwide digital currency. Hong Kong is the latest country to do so, as the Monetary Authority is looking to create a central bank digital currency. Interestingly enough, the HKMA is teaming up with none other than the R3 consortium to explore the options on the table. R3 Is Still Alive and Kicking It has to be said, 2016 was not the best year for the R3 consortium by any means. After their Corda project was unveiled, the team ultimately admitted they are not even using

Themerkle HK R3 Digital Currency

It has been a while since a country’s central bank was looking to issue a nationwide digital currency. Hong Kong is the latest country to do so, as the Monetary Authority is looking to create a central bank digital currency. Interestingly enough, the HKMA is teaming up with none other than the R3 consortium to explore the options on the table.

R3 Is Still Alive and Kicking

It has to be said, 2016 was not the best year for the R3 consortium by any means. After their Corda project was unveiled, the team ultimately admitted they are not even using blockchain technology or a distributed ledger. This news was quite troublesome, as validated most people’s thoughts of how the group was not working on what they made people think. However, the consortium never said they would use blockchain tech in the first place.

Lo and behold, the R3 consortium is ready to make more headlines, but rather in a positive manner this year. Thanks to a new partnership with Hong Kong-based banks and the local Monetary Authority, things are starting to look very promising for R3 The goal of this partnership is to create a national digital currency for Hong Kong, which sounds rather interesting.

The current plan is to collaborate with three note-issuing banks and the Hong Kong Interbank Clearing Limited. All of these financial institutions provide critical services to the Hong Kong ecosystem, that much is certain. Working on a national digital currency for such a small country may seem like an odd decision, yet it holds a lot of merit in the long run.

This particular digital currency will be used to facilitate inter-bank payments and inter-corporate transactions in the wholesale market. Moreover, it will also play a role in how debt securities are settled. This does not necessarily mean the currency will be issued to consumers, though, as it is seemingly more of a project that may compete with the likes of Ripple.If that is the ultimate goal, things could get very interesting over the coming months.

Later this year, the first stage of development is expected to be completed. This does not mean the new digital currency will be tested on a large scale, as it remains up to the Hong Kong Monetary Authority to look at the progress made and decide whether or not further development is warranted. If the project is not up to the standards, the Hong Kong national digital currency may never see the light of day.

It is worth noting the HKMA has been working on various other blockchain-based ventures in the past. They are currently still involved in a proof of concept that has ties to the Bank of China, HSBC, Deloitte, and a few other major financial institutions. Hong Kong is looking forward to embracing new and disruptive technologies, that much is certain.

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Bitcoin vs Onecoin

TheMerkle Onecoin vs BitcoinA lot of people seem to think Onecoin is a far better investment compared to bitcoin. While nothing could be further from the truth, it is not hard to see why people would invest in Onecoin rather than bitcoin. To the average consumer, bitcoin makes little sense. However, it is evident bitcoin will always be the superior currency. 2. Onecoin Over the past few years, Onecoin has made quite a name for itself. The people responsible for this project advertise Onecoin as a digital currency that will not only make investors rich over time but also provides a gateway to product

TheMerkle Onecoin vs Bitcoin

A lot of people seem to think Onecoin is a far better investment compared to bitcoin. While nothing could be further from the truth, it is not hard to see why people would invest in Onecoin rather than bitcoin. To the average consumer, bitcoin makes little sense. However, it is evident bitcoin will always be the superior currency.

2. Onecoin

Over the past few years, Onecoin has made quite a name for itself. The people responsible for this project advertise Onecoin as a digital currency that will not only make investors rich over time but also provides a gateway to product and services as part of the Onelife ecosystem. However, there are quite a few caveats regarding Onecoin that most less tech-savvy people tend to overlook. After all, the concept looks appealing, but can its creators back up any of their initial claims?

That is where the Onecoin project falls apart almost immediately. While it is true investors will see their account balance update over time, that does not necessarily mean they own said funds. In fact, until they request  a payout from Onecoin, they will never control their profits or original investment ever again. Moreover, the account balances one sees update every so often is nothing more than a number in the Onecoin site database being changed, even though it has no value whatsoever.

Moreover, the Onecoin team claims they have made a digital currency, which is issued over a blockchain. So far, there has been no proof of a Onecoin blockchain, simply because it doesn’t exist. Nor will it ever come to fruition either, as the project team has no idea on how they would create such a technological marvel in the first place. It is evident Onecoin is not even a currency with proper use cases, other than the ones provided by the Onelife network. No one has ever been able to buy food or pay a bill with Onecoin directly, that much is certain.

1. Bitcoin

Which brings us to bitcoin, the so-called “inferior currency to Onecoin”, according to some of the platform’s investors. In fact, one can argue bitcoin is everything Onecoin is not and vice versa. Unlike the scammy counterpart above, bitcoin is an actual currency that can be used around the world without requiring approval from a centralized company that has no honest intentions whatsoever. It is rather interesting the OneLife network does not accept bitcoin payments, nor does any other merchant around the world accept Onecoin payments.

Moreover, bitcoin is a digital currency, as it does not merely exist in one website’s database. The entire world can see bitcoin transactions take place in real-time without having to install special software to do so. Onecoin transactions, on the other hand, have never been publicly documented. This begs the question whether or not there is any value to the Onecoin “currency” in the first place, considering it has no use cases.

Speaking of use cases, thousands of merchants and retailers around the world are accepted bitcoin payments as of right now. Both online and offline purchases can be completed with bitcoin. Additionally, there are also bitcoin debit cards, whereas Onecoin has no debit card whatsoever. That is quite surprising, considering the value of Onecoin seems to increase every so often. Striking a deal with a credit card issuer would not be all that hard in this regard. Then again, bitcoin has a value, and Onecoin does not, which explains why no card issuer wants to deal with Onecoin right now.

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