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Regulators Must Lead On Blockchain: IBM Report

Regulators Must Lead On Blockchain: IBM Report
Blockchain reduces paper processes, speeds up transaction times, increases efficiencies and builds trust among participants to a transaction, according to Sept. 23 IBM report on how distributed ledger technology (DLT) can improve how the federal government does business. The report was authored by Thomas Hardjono, director of the MIT Trust: Data Consortium. It's titled "The Impact of Blockchain for Government: Insights on Identity, Payments, and Supply Chain." Hardjono explores several areas where blockchain can benefit government agencies and how regulators and policymakers can lead the way to mass adoption of the tech that drives economic vitality. The author, writing on behalf of IBM Center for The Business of Government, stated that it's important for regulators to work with industry experts to ensure that the regulatory framework governing blockchain is appropriate and compatible with the innovation. "It is imperative that government and industry work together to continue and strengthen technological and market leadership in this new area, and to address potential policy and regulatory incompatibility that may constrain growth of the emerging digital-blockchain economy," writes Hardjono. His view is similar to those of a group of cryptocurrency and finance experts who last week warned the U.S. Securities and Exchange Commission (SEC) and policymakers to avoid enacting and implementing bad regulation that are incongruent with the unique features of crypto and blockchain tech. The group, which consists of a Bitcoin Core developer, Morgan Stanley veteran, and "Big Four" accounting executive, said that doing so would harm the industry and investors. Members of the Congressional Blockchain Caucus have been holding roundtable discussions on blockchain tech. According to the author (who has been consulting with Congress on the matter), the goal has been for policymakers to understand use cases of blockchain technology. Other objectives include identifying areas of common interest; accelerating adoption and deployments; identifying existing gaps that impede implementations; identifying components being assessed across industries, businesses and government agencies. However, Congress could have a difficult time reconciling potential differences in policy vision with the executive branch. For example, the congressional caucus identified digital identity as a key theme that impacts government. But bureaucracies are likely to resist change that leads to less power for their departments and more transparency and accountability when it comes to data privacy and security. The caucus also identified payments as well as supply chains as ripe for disruption by digital ledger technologies (DLT). Aside from close collaboration between industry and government, Hardjono mentions the need for leadership and vision from government officials in order for America to reap the benefits of blockchain technology. "There is a need for greater vision and leadership across government regarding the development of technology for a digital-blockchain economy, and the U.S. role in this future economy. Industry leaders believe this technology will be core to the future of the economy as a whole, just as the Internet has become. This foundational economic impact may range from supply-chain logistics management, to finance and insurance, to identity, to government services, and more." The author also mentions the need for more research and test deployments. Articles by Marvin Dumont: Regulatory News Have Biggest Impact On Crypto Prices: Report $300M Bitcoin Ponzi Scheme: Indian Scammers Face Justice Bitcoin Flaw Discovered: Inflation Attack Creates Bogus BTCs Experts Warn SEC And Congress: Bad Rules Will Harm Bitcoin Investors Bitcoin Is Replacing Bolivar As Venezuelan Economy Crashes U.S. Regulators Move Towards Guidance On Cryptos

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Ideaology's IEO Ushers the Launch of Blockchain Platform for Innovators

Ideaology's IEO Ushers the Launch of Blockchain Platform for Innovators

DUBAI, UAE - Ideaology is proud to announce its IDEA token pre-sale on December 1, 2020. The pre-sale event is an initial exchange offering (IEO) on P2PB2B exchange. Users will have a chance to purchase IDEA tokens with a 22% discount before the IDEA token public sale.

Ideaology aims to be the “Biggest Blockchain Ecosystem in 2021 and beyond''. Along with the pre-sale launch, Ideaology’s Active IDEA platform will have its beta launch on December 1, 2020 as well. The very existence of Ideaology is a testament to how the model it’s promoting works. With its upcoming IEO and subsequent launch on crypto exchanges, Ideaology’s Active IDEA aims to become the first blockchain-powered platform to pave the way for users to collaborate on promising blockchain projects while investing in these ventures as well. 

“Freelancers don’t necessarily work on online freelance platforms, and clients or companies don’t necessarily look for talents on those websites. Many of them are running their independent business from their websites or agencies, and looking for clients via advertisements, email marketing, leads generation, and other techniques. This is why we need to ask the question: why would a freelancer choose a website like Upwork, Fiverr, or Freelancer to sell his services when they can be part of a platform where they can offer their expertise and services on a platform specifically created for their exposure and convenience?” ,said Khaled Alkalbani, Founder and CEO at Ideaology. 

Whether you are an investor looking for the right project to pour your resources on, a business developer that needs funding to start his empire, or a digital nomad looking for a platform where you can provide meaningful services and earn, Active IDEA strives to be the go-to platform for all online professionals. 

Within the Active IDEA platform, members can collaborate as they invest and find projects that they have passion for. Members of the Ideaology community will be enabled to launch a startup through crowdfunding, but at the same time, will also have the opportunity to work with startups.The Ideaology team calls this whole process “collabvesting” - where Active IDEA users can invest in startups while also giving startups and freelancers to collaborate on projects.

“We believe that our IEO launch with P2PB2B enables Ideaology supporters and P2PB2B users to have a smooth and convenient experience in participating in our pre-sale for the IDEA token. We trust that P2PB2B will also offer a great IDEA token pre-sale experience for everyone interested to purchase IDEA tokens at an early stage.”, said Amar Kovacevic, Co-Founder and CTO at Ideaology.

By establishing a platform where online professionals can start collabvesting, and jumpstarting it with a pre-sale of their IDEA token, Ideaology just became one of the most promising blockchain companies in 2021 and beyond.

Click here to join the IDEA token pre-sale event.

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Blockchain prepared to be integrated into the Ministry of education for Vietnam graduates in 2021

Blockchain prepared to be integrated into the Ministry of education for Vietnam graduates in 2021

Quick take

1 minute read

  • Vietnam is getting ready to integrate blockchain technology for issuing diplomas in 2021.
  • An announcement was made that highlighted that the ministry has teamed up with TomoChain in order to put a national student certification on the proprietary blockchain platform from TomoChain.

The Ministry of education and training in Vietnam is getting ready to integrate blockchain technology for issuing diplomas in 2021.

An announcement was made last week on the 18th of November that highlighted that the ministry has teamed up with TomoChain, a Singapore-based start-up, in order to put a national student certification on the proprietary blockchain platform from TomoChain.

As a part of this project, the Vietnam ministry is getting ready to issue all kinds of diplomas granted by its training units and the high school of higher education through this new system. Furthermore, this new system is going to come into effect at the end of the school year next year.

Interestingly, the announcement specifically highlighted the new blockchain-based certification system which has been designed to enable for transparent and immutable verification of the qualifications for all of its students. The deputy minister at the Vietnam Ministry of education, Nguyen Van Phuc has said the following:

“Diploma and certificate management is an issue that needs to be resolved by technology, which is significant for the whole of society and also cost-efficient for the diploma management system in particular, and education in general.”

This is an exciting development and could prove to be successful if integrated prep properly. Could this pave the way for other countries to follow in Vietnam's footsteps?

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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Nigeria could be looking into blockchain technology to help boost its economy by $10 billion

Nigeria could be looking into blockchain technology to help boost its economy by $10 billion

Quick take

1 minute read

  • How blockchain technology could help grow the Nigerian digital economy.
  • The director-general of the NITDA says up to $10 billion could be benefited from blockchain

Director-general Kashifu Inuwa of the national information technology development agency in Nigeria (otherwise known as NITDA) has recently said that the country could potentially expect a revenue stream of up to $10 billion from the use of blockchain technology over the next decade.

Speaking at a stakeholder meeting in Abuja, the director-general explained how blockchain could benefit the Nigerian digital economy and that it would facilitate the development of such if needed.

Saying at the meeting, he said:

“We want Nigeria to be strategically placed to capture value from this economic potential of blockchain… Looking at our youthful population, which is mainly digitally native and with our position in Africa, we are looking at how we can get at least around six to 10 billion dollars by the year 2030.”

He further added:

“Blockchain is going to play a key role in terms of creating, tracing products and services.”

The director-general further went on to highlight a study from PricewaterhouseCoopers published back in October which found that blockchain technology could potentially add almost $2 trillion to the global gross domestic product over the next 10 years. As a result of this, it would make it 1.4% of the global GDP in 2030.

Furthermore, he added that Nigeria could incorporate such technology through its payment services, digital identity, customer engagement and more to boost this higher.

“We see the need for us to position our country well so we can capture value from the blockchain."

For more news on this and other crypto updates, keep it with CryptoDaily!

© 2020 CryptoDaily All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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HollyGold Is Leading The Charge In Blockchain-Based Entertainment

HollyGold Is Leading The Charge In Blockchain-Based Entertainment

Whether you’ve noticed or not, there’s been a sharp rise in consumer preference for digital content since the dawn of the internet. This is mainly due to the lack of legal barriers to accessing information on the world wide web. With a simple internet connection, anyone can access whatever information they desire. Further, they can get it any way they desire, from movies, sports, politics, religion, etc. Nevertheless, the current iteration of the internet, commonly referred to as web 2.0, is plagued with a variety of issues such as centralized control of digital information, lack of data transparency,  challenges in protecting authorship (often leading to piracy) just to new a few. Because of these limitations, many people become discouraged from taking a more active role on the web to create movies, games, and other forms of entertainment.

To solve this significant problem, a variety of blockchain-based entertainment applications have been developed to address most of the issues plaguing web 2.0 These include but not limited to:

  • HollyGold
  • Flixxo
  • Theta Networ
  • TV two
  • Monvid
  • Breaker
  • Vuulr

All the above networks have been making significant strides in order to revamp the current entertainment industry. But as we all know, the success and level of influence of a company depends, to a greater extent, on the reputation of the participants, and not just the idea itself. And that is exactly where HollyGold stands out from the crowd.

HollyGold is a revolutionary blockchain-based entertainment company founded by world-renowned experts in the entertainment and financial technology industries. The company has formed a strategic partnership with Base FX, a well respected digital effects company in the world. Base FX has numerous awards in the visual effects industry, with production studios and offices in globally distributed offices in Beijing, Kuala Lumpur, Los Angeles, and others. Moreover, Base FX has also assisted in the production of more than 200 films and has equally expanded its collaboration as it teamed up with Industrial Light and Magic, another US-based visual effect-related company.

On November 17th, CEO of HollyGold Dior Wu spoke at Michael Madsen’s grand imprint ceremony, held at TCL Chinese Theatre, in Hollywood, California. Madsen is known most notably for his role as Vic Vega in Reservoir Dogs. The event was meant to pay tribute to Michael for his decades-long career contributions. The ceremony was proudly sponsored by HollyGold to show its dedication to the Hollywood Film Industry.

A close-up shot of CEO of HollyGold, Dior Wu at TCL Chinese Theatre

The HollyGold blockchain has its own native token - HGOLD - which is used to facilitate all transactions within the network. The chain has adopted a series of technologies such as hash locking, distributed private key control, etc to maintain security while retaining the transparency and overall integrity of the network. HollyGold will serve as a home for a variety of services such as celebrity interaction ceremonies, tours, VIP dining packages, and more. Anyone who wants to gain access to these services and also take part in the further development of the HollyGold ecosystem will need to purchase the HGOLD tokens.

The HollyGold token (HGOLD) was sold on DigiFinex exchange from the 9th to 13th of November 2020 via their Apollo launchpad. The event was very successful with the last round of token sale sold out in just 20 minutes. The token sale attracted 5,6k participants, and in total raised $4.9m. DigiFinex has opened trading for HGOLD/USDT on 16th November 2020 at 11:00 (GMT+8), with price shooting up by 300% within 24 hours of opening the trading pair.  

DigiFinex is considered one of the leading cryptocurrency exchanges in the crypto space with 6 offices in different parts of the world. It is regularly ranked among the top 10 exchanges by trading volume and liquidity. It offers a wide range of financial services surrounding cryptocurrency, including crypto spot, margin, derivatives, P2P trading; as well as crypto asset management services including fund and loan. Further, DigiFinex also deploys a security mechanism that uses multiple safe layers to provide users with the same level of protection they would expect from a well established financial institution. The founders of the crypto exchange are also leaders of renowned tech companies from the United States, Hong Kong, and China with a proven track record of working on networking and financial technologies.

Blockchain-based entertainment platforms have existed before Hollygold and many more might be launched in the future. Regardless, HollyGold has been the only one to garner a substantial public interest within a very short time. This is mainly due to its partnership with renowned companies like Base FX and the fact that it is supported by many celebrities, entrepreneurs, and investors around the world. Check out more on HollyGold by visiting their website.

Marcus Henry is an American Journalist with over 12 years working in the tech industry. He has been actively involved in the crypto community for the past three years and currently works out of Austin, Texas. He covers breaking news, writes perspective pieces and reflections, and conducts interviews with industry professionals and community members. Follow Marcus Henry on Twitter- @MarcusHenryHODL

Disclaimer: The information above does not constitute investment, financial, trading or any other sort of advice and you should not treat any of my content as such. I do not recommend the purchase, sale, or holding of any cryptocurrency or other product and/or service. Nothing I write about should be deemed as an offer to purchase, sell, or hold a cryptocurrency or other product or service. Please do your own research and consult a certified financial professional before making any investment decision.

 

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