Category Crypto Currency

Budbo – One Blockchain, Infinite Possibilities

The cannabis industry in the U.S. is exploding, with a projected value of $50 billion, and it is predicted to grow exponentially in the future. The buzzkill remains a lack of consistent regulations and non-standardized rules of trade across state lines, forcing much of the industry to operate in the shadows and remain essentially shunned by the nation’s established economic system. Despite legalization, many people still prefer buying cannabis through black market channels in hopes of obtaining their favorite strains at cheaper prices. So what’s the solution? Enter Budbo. Having launched in 2016, Budbo, a U.S. based startup, initially developed a “tinder-like” mobile application to help users find their favorite strains and products at nearby dispensaries. Now boasting of nearly 100,000 users and 2,000 dispensaries as part of its network, Budbo’s platform consists of a mobile phone app and a cloud-based backend business intelligence platform, which also provides a delivery tracking service aimed at ensuring full visibility and compliance of the cannabis delivery process. Budbo is now a respected and established presence in the cannabis ecosystem, and is looking to elevate its offering in a major way by tapping into blockchain technology. Need of a Blockchain Revolution Budbo believes the cannabis industry lacks the basic framework to seamlessly integrate into the country’s mainstream economy. Company leaders argue the persistent marginalization and fragmentation of the cannabis sector can be alleviated through blockchain technology. “Blockchain possesses the power to streamline the processes of cannabis industry,” says Budbo CTO Jacob Patterson. “This system we are working on will ensure that cannabis moves safely and through proper channels, with all movements and history accounted for in a decentralized and immutable ledger.” By bringing together growers, manufacturers, lab experts, dispensaries and other cannabis industry stakeholders, Budbo aims to construct a completely transparent, and standardized system for the cannabis trade. Budbo As a Backbone The blockchain technology offers a way to streamline industry channels simultaneously as it holds an immutable ledger that leverages crypto-tokens built on smart contracts. The digital ledger which Budbo aims to build will contain complete seed-to-smoke information of every cannabis consignment produced, along with real-time GPS tracking of cannabis movements between pertinent stakeholders. Working along this path will give rise to Budbo’s ever-growing data aggregation platform, allowing full transparency among all cannabis businesses and government agencies. This data will galvanize growth and provide a strong backbone for the cannabis industry to communicate among its actors and make optimal business decisions. It will also simplify the process of cannabis businesses satisfying pertinent regulations, while giving regulators a direct, transparent and fast method to ensure that those regulations are being adhered to. The Budbo Blockchain Token The Budbo utility token (Budbo Token) built on top of ethereum-based blockchain technology provides stakeholders entry into this digital ledger system. Working as an API, this token will be used to access information stored in the digital ledger. The aggregation of data starts with consumers generating demand for a particular strain of marijuana. Dispensaries access the analytics and data trends to make smart business decisions. Based on the analytics, dispensaries place orders with nearby manufacturers. The manufacturer, in turn, accesses the information regarding strain purities as reported by testing agencies by using Budbo Tokens. The blockchain platform ensures there is neither unaccounted pilferage of stock nor any scope for substituting high-quality strains with inferior strains. The marijuana growers buy this information by spending Budbo Tokens to plan their planting cycles and streamline the delivery of their products in markets where they are in high demand. Aside from regulating the cannabis industry, the blockchain ecosystem designed by Budbo can eventually be used as a blueprint for blockchain integration in other industries. For more details about Budbo, visit www.budbo.io. The post Budbo – One Blockchain, Infinite Possibilities appeared first on NEWSBTC.

Venezuela Will Force Bitcoin Miners to Register With the Government

Venezuela has always been a remarkable place when it comes to Bitcoin and cryptocurrency. More specifically, it seems Bitcoin will make a big impact in the country at some point. Unfortunately, the Venezuelan government isn’t too keen on Bitcoin or other cryptocurrencies. Miners will now have to register with the authorities, which is rather worrisome. More Bitcoin Opposition in Venezuela These are not fun times to be living in Venezuela. The country has been dealing with financial hardship for some time now, and the situation is not improving in the slightest. The bolívar becomes less valuable every single week, and there is no solution to this problem whatsoever. It’s not surprising to see so many people flock to Bitcoin and cryptocurrencies, as it provides a way out of the financial struggle that is everyday life in Venezuela. No one will be surprised to hear the Venezuelan government isn’t too keen on Bitcoin and other cryptocurrencies. Since Bitcoin and other cryptocurrencies can’t be regulated or controlled by the government in any official capacity, they could damage the country’s brittle economy even further. As a result, the government has imposed new rules for anyone mining cryptocurrency. To be more specific, all miners will now be taxed and required to register with the government. Being taxed is not entirely illogical, but the registration requirement is pretty worrisome, to say the least. The government shouldn’t need to know who is doing what in regards to crypto trading and mining. Nevertheless, authorities want to know who is mining, where they are located, and what type of equipment they use. An online registry of cryptocurrency miners is expected to go live on December 22 of this year. It is unclear if there will be any repercussions for those who don’t register. We do know the country’s police have arrested miners in the past, prior to this regulation’s announcement. The opinions regarding this new framework are somewhat divided for now. Some people feel the new rules will pave the way for a more vibrant Bitcoin ecosystem. It is not easy to mine cryptocurrency under any circumstances, and things are not getting better in Venezuela. Most of the electricity in the country is state-sponsored, which means it is technically the property of the government. On the other hand, there are those who can’t see the benefit of this new regulation whatsoever. It is doubtful a lot of miners will willingly share this information with the government, but you never know how things will play out. There is no indication that this registry will offer any protection to cryptocurrency miners, but rather appears to be a way to scrutinize their activity even further.

Real Money Online Casinos : Upcoming regulation from the US Congress

As Congress considers regulating Online Casinos in the United States amid concerns that Internet gaming may lead to higher gambling addiction rates, a new Harvard study says that fear may be unfounded. Harvard Medical School’s Division on Addiction has issued the results of the most extensive and comprehensive study ever conducted on online gambling, and its findings show that the 24/7 availability of Online Casinos and other games do not increase gambling addiction. The study was based on information collected from the player databases of Las Vegas USA and Slotocash tallied the betting purchases of millions of online casino gamblers, poker players and sports betting fans over a two year period. Analysis of the data showed that at least 95 percent of online gamblers used moderation in their betting habits. Only one to five percent exhibited addictive behavior. The data from Las Vegas Usa online casino, an American-based gambling site, provided more than 200+ Internet casino gambling case studies for examination. Over a period of nine months, the average player placed bets only once every two weeks and lost around 5.5 percent of the money they wagered. Harvard also analyzed data from a University of Hamburg study that looked at the habits of online poker players. More than two million online poker player transactions from Bovada Casino were studied over a six month period. The average gambler played poker for only 4.88 hours over that time and paid less than a dollar per hour in rake. Harvard’s report backs up the 2007 Nottingham Trent University study sponsored by industry self-regulatory body e-Commerce and Online Gaming Regulation and Assurance, also known as eCOGRA. The eCOGRA study found that online poker players were largely balanced and responsible, going to gaming sites two to three times per week, gambling for one or two hours per session and paying around $1.20 an hour in rake. The report also noted that players took an average of only six percent of their bankroll to the table. The Harvard study also supports the findings former Harvard Division on Addiction staffers Howard Shaffer and Ryan Martin wrote in a 2011 paper regarding gambling addiction. They wrote that, despite dire predictions that online gambling would lead to large increases in addiction, problem gambling has remained steady over the past 35 years. In fact, the percentage of compulsive gamblers has slightly declined from seven in 1,000 to six in 1,000 during that time. Shaffer and Martin’s paper also concluded that the massive increase in the number of casinos in the United States has not lead to higher addiction rates in the general public. They state that 75 percent of people who become addicted to online gambling seem to be predisposed to obsessive behaviors, because they already suffer from other addictions, such smoking, drinking or drug abuse. The Harvard research study is significant because it was conducted independently and not sponsored by pro-gambling or anti-gambling groups who have a vested interest in the results. This is especially of note given the current political climate in the U.S. regarding online gambling. The political and legal landscape of Internet gambling was dramatically altered in 2011 when the Department of Justice backed away from its previously held position that the federal Wire Act of 1961 made all iterations of online gambling illegal. This change freed states to allow some forms of online sports betting and other Internet gambling. In the fall of 2016, the states of New Jersey, Delaware and Nevada launched regulated Internet gambling with the anticipation of big revenues. Supporters of online gambling believed that the expected tax windfalls would entice other states to quickly follow suit, and they had an impressive army of pro-Internet betting politicians, lawyers and lobbyists helping them further their cause. However, the bright future online gambling advocates envisioned became dimmer when billionaire casino owner Sheldon Adelson announced he was “willing to spend whatever it takes” to stop Internet gambling from succeeding. Adelson told Forbes magazine, “I won’t go into the business because it’s a moral issue for me.” Adelson used the argument that online gambling will create more gambling addicts as a major point in his campaign against it. He claims Internet gambling will endanger young and poor Americans who may see betting as a way out of debt, particularly from the burden of student loans. He says that, unlike his land-based casinos, Internet gambling has no safeguards to prevent minors or those who have drug or alcohol problems from betting away their homes. Moral and humanitarian concerns aside, Adelson, who is the chief executive of casino company Las Vegas Sands and America’s 11th richest person, believes that online gambling would ultimately prove “suicidal” for the casino industry in the United States, destroying hundreds of thousands of jobs. He says that Internet betting may be profitable for land-based casinos in the short term, but the longview is grim, because online gambling will eventually eat away at the profit margins of land-based businesses. At first, few took Adelson’s anti-online gambling initiative seriously. He, after all, failed to sway the 2012 presidential election to Republicans despite contributing millions, and, because his fortune was made on the backs of gamblers, his moral objections to Internet gambling may seem hypocritical. However, things look different now. Adelson has put his vast wealth behind a bipartisan campaign that is turning the tides in his favor. He has convinced fellow Las Vegas billionaire Steve Wynn to change his pro-Internet gambling stance, and he brought former online gambling supporter and Democrat Willie Brown over to his side. Also, New Jersey’s online gambling numbers have been dismal. Although New Jersey Governor Chris Christie predicted last year that Internet betting would bring at least $180 million to his state, Bloomberg News has reported New Jersey is only on pace to make around $12 million. Whatever the ultimate fate of Internet gambling in the U.S., the results of the Harvard study should ease public concerns over its mental health dangers. This is a sponsored press release and does not necessarily reflect the opinions or views held by any employees of The Merkle. This is not investment, trading, or gambling advice. Always conduct your own independent research.

Andreas Antonopoulos Warns of Crypto Bubble

We’re well-used to members of central banks, and government expressing concerns about Bitcoin. However, what’s much rarer is one of our own using that pesky “B” word. Revered Bitcoin proponent Andreas Antonopoulos has joined the likes of Jamie Dimon and Janet Yellen in deeming the world’s hottest digital currency a bubble. The Australian Financial Review report that the Bitcoin and blockchain guru warned that the rise in price we’ve seen so far in 2017 was not the result of genuine adoption and usage but rather people hoping to emulate the parabolic gains early advocates of crypto have seen: What we’re seeing is a straightforward grassroots bubble driven by speculation and greed. He also cautioned investors who he feels are essentially throwing money at a technological innovation they know nothing about. This makes it even more dangerous, and Antonopoulos feels that those who don’t properly understand what they are getting themselves into are taking on “a serious amount of risk”. The concern coming from a Bitcoin proponent should certainly worry those invested in the space more than that of central bankers many of who are essentially clueless about cryptocurrency themselves. Andreas Antonopoulos has dedicated much of the lifespan of Bitcoin advocating its use, and its game-changing properties in the world of finance. He’s spoken many times about cryptocurrency’s potential to completely destroy central banker’s ability to dominate the planet by controlling the cash we’re all dependent on. He’s even authored two of the space’s most popular books, Mastering Bitcoin and The Internet of Money. Rather than pursue wealth, Antonopoulos instead favoured spreading awareness. He’s been something of a digital nomad for the last few years, appearing at events around the globe where he has selflessly championed Bitcoin. Despite his time in the space, until recently, he hadn’t enjoyed the same financial success as many early adopters. This prompted an attack on Antonopoulos by fellow long-time advocate Roger Ver. He publicly “poor shamed” his fellow crypto-pioneer which prompted the wider community to donate almost $2 million to Antonopoulos as a sort of communal thank you to a man who has done so much to spread Bitcoin awareness. The Australian Finance Review went on to state that Antonopoulos warned that the influx of users seeking fast gains on their investments was causing Bitcoin to not perform as it was designed: “… as such, the added congestion means bitcoin is not currently functioning as originally designed.” This sentiment was echoed elsewhere in the industry. CEO of Australian exchange Coinjar, Asher Tan, elaborated: The blockchain is totally choked up at the moment and the fees can be ridiculous. The post Andreas Antonopoulos Warns of Crypto Bubble appeared first on NEWSBTC.

Andreas Antonopoulos Warns of Bitcoin Bubble

We’re well-used to members of central banks, and government expressing concerns about Bitcoin. However, what’s much rarer is one of our own using that pesky “B” word. Revered Bitcoin proponent Andreas Antonopoulos has joined the likes of Jamie Dimon and Janet Yellen in deeming the world’s hottest digital currency a bubble. The Australian Financial Review report that the Bitcoin and blockchain guru warned that the rise in price we’ve seen so far in 2017 was not the result of genuine adoption and usage but rather people hoping to emulate the parabolic gains early advocates of crypto have seen: What we’re seeing is a straightforward grassroots bubble driven by speculation and greed. He also cautioned investors who he feels are essentially throwing money at a technological innovation they know nothing about. This makes it even more dangerous, and Antonopoulos feels that those who don’t properly understand what they are getting themselves into are taking on “a serious amount of risk”. The concern coming from a Bitcoin proponent should certainly worry those invested in the space more than that of central bankers many of who are essentially clueless about cryptocurrency themselves. Andreas Antonopoulos has dedicated much of the lifespan of Bitcoin advocating its use, and its game-changing properties in the world of finance. He’s spoken many times about cryptocurrency’s potential to completely destroy central banker’s ability to dominate the planet by controlling the cash we’re all dependent on. He’s even authored two of the space’s most popular books, Mastering Bitcoin and The Internet of Money. Rather than pursue wealth, Antonopoulos instead favoured spreading awareness. He’s been something of a digital nomad for the last few years, appearing at events around the globe where he has selflessly championed Bitcoin. Despite his time in the space, until recently, he hadn’t enjoyed the same financial success as many early adopters. This prompted an attack on Antonopoulos by fellow long-time advocate Roger Ver. He publicly “poor shamed” his fellow crypto-pioneer which prompted the wider community to donate almost $2 million to Antonopoulos as a sort of communal thank you to a man who has done so much to spread Bitcoin awareness. The Australian Finance Review went on to state that Antonopoulos warned that the influx of users seeking fast gains on their investments was causing Bitcoin to not perform as it was designed: “… as such, the added congestion means bitcoin is not currently functioning as originally designed.” This sentiment was echoed elsewhere in the industry. CEO of Australian exchange Coinjar, Asher Tan, elaborated: The blockchain is totally choked up at the moment and the fees can be ridiculous. The post Andreas Antonopoulos Warns of Bitcoin Bubble appeared first on NEWSBTC.