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Yosemite X Announces the First Open Source Public Blockchain without a Native Cryptocurrency

Vlad Poptamas

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Photo source: insights.dice.com
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Businesses can reap the benefits of blockchain, without the risks commonly associated with cryptocurrencies

Yosemite X, a blockchain technology company, today announced the release of its open source public blockchain that operates without a native cryptocurrency, giving developers and businesses the ability to build solutions and reduce costs, without the price volatility of crypto. This approach enables companies to reap the benefits of blockchain – greater transparency, enhanced security, increased efficiency, speed of transactions at scale – and pay for their network usage with more stable fiat currencies.

While the idea of using the blockchain technology to cut down the cost of operation has intrigued many businesses, few have proved to be practical due to the technology’s reliance on volatile native cryptocurrency. Even those that have been implemented in enterprises are often based on permissioned blockchains, which are really a glorified centralized server system with shared access to the control room amongst agreed/pre-determined partners. With Yosemite Public Blockchain, which is designed to operate and transact with fiat-backed stablecoin, businesses can – for the first time on a public blockchain – accurately project their operating costs, which are expected to be significantly lower than other financial transaction systems.

“Blockchain technology has great potential to innovate the financial network system currently built on old technologies,” said YT Kim, the Founder of Yosemite X. “However, the existing public blockchains are impractical for business entities to implement their blockchain-based services, due to the high price volatility and unfair distribution of cryptocurrencies, and blockchain scalability issue. Yosemite X has implemented a new way of designing a scalable public blockchain for enterprises, without needing a native cryptocurrency.”

Unlike other public blockchains that issue native tokens to sell through an initial coin offering (ICO) Yosemite has developed a validation algorithm that can enable any token generated by any account to be used as the network’s transaction fee. Yosemite has also resolved the price volatility issue of cryptocurrencies by designing transaction fees to be paid with tokens that have an equivalent amount of fiat currency reserved – effectively backing their values.

On the Yosemite Blockchain, anyone can participate in the process of reaching consensus. The Yosemite Blockchain’s Proof-of-Transaction consensus mechanism allows the service providers that generate the most number of transactions and are the most active participants of the network, to participate in block production. This not only guarantees the fairness on how to reach consensus, but also promote sustainable growth of the ecosystem that is operated by and for the participants of the network.

The ability to increase transparency and to significantly lower the cost of data security measurements and operations, combined with open accessibility, makes Yosemite Blockchain a viable solution for many businesses.

Led by Yosemite Card – 0% transaction fee credit card – which launches in March 2019, there are number of business services from a wide variety of industries, including energy trading, digital contracts, and education, that are currently being developed on Yosemite Blockchain.

The Yosemite test-net is now available for public review at: http://testnet-sentinel-explorer.yosemitelabs.org/

More information about Yosemite’s public blockchain can be found in the company’s white paper: https://yosemitex.com/documents/YOSEMITE_Public_Blockchain_Technical_White_Paper_Version_2_ENG_201901a.pdf

SOURCE Yosemite X

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Asia

World Blockchain Summit to enter Malaysia

Vlad Poptamas

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Reading Time: 2 minutes

 

The Kuala Lumpur edition of Trescon’s World Blockchain Summit will mark the global series’ entry into the Malaysian marketplace. The summit will take place on 27 – 28 February 2019, at the Intercontinental Hotel.

World Blockchain Summit is an internationally renowned series that has hosted over 15,000 delegates in over ten countries across the world, with a special focus on hosting elites from regional governments and enterprises alike.

Malaysia is one of the newest countries on the blockchain map, as the country pushed for the active legislation of blockchain based service providers. Furthermore, after initially distancing itself from Cryptocurrencies, the Malaysian Government is now looking to classify CryptoTokens and other digital currencies as tokenised assets. The Finance Ministry has also announced it hopes to completely regulate Cryptocurrencies by Q1 of the 2019 fiscal year.

Hence, the World Blockchain Summit is arriving in Kuala Lumpur at the most opportune moment as the local blockchain industry is moving towards the wide-scale adoption of ledger based services. The summit will gather over 500 technology developers, startups, entrepreneurs and solution providers at the venue to share knowledge, implementation techniques and adoption practices for blockchain solutions into diverse industries and sectors.

Regulatory body MIGHT (Malaysian Industry-Government Group for High Technology) is helping institutions and government bodies adopt blockchain services rapidly. The Ministry of Education has also setup a degree verification system via a distributed ledger. The President and CEO of MIGHT, Datuk Dr Mohd Yusoff Sulaiman, will be delivering a keynote address at the World Blockchain Summit in Kuala Lumpur.

Mohammed Saleem, CEO of Trescon, said that Malaysia is now the centre of global news after the Government, whom first opposed blockchain and cryptocurrency services, did a full 360 and is now looking to regulate them within the country. Industries like Education, Tourism, Healthcare and Public Services can benefit from the transparency and incorruptible features a distributed ledger provides”.

The event will also have startups and ICOs present at the exhibition venue, displaying their services and products to a hoard of investors, seeking the required assistance and support needed for growth.

Some other notable industry personalities and leaders attending the event include Rene Bernard, President of ACCESS — MalaysiaKohei Kurihara, President of the Tokyo Chapter — Government Blockchain Association; and Samson Lee, Founder and CEO of CoinStreet.

PR Newswire is a News Release Distribution Partner of World Blockchain Summit.

 

SOURCE Trescon

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Asia

Vitalik Buterin to Keynote World’s First Ethereum SuperMeetup in Hong Kong

Vlad Poptamas

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Ethereum Creator Vitalik Buterin, alongside regional leaders from the Ethereum Meetup communities of Asia, are set to gather in Hong Kong to host the inaugural Asia Region Ethereum SuperMeetup. Organized by Ethereum Hong Kong and Singapore, and attended by Meetups including Ethereum Taipei, SeoulTokyoPhilippinesSydneyHanoi, and Jakarta, the event is the first major community-led regional gathering. Supported by Ethereum, TOKEN2049, Kenetic, and Digix, the Meetup will take place in the Kerry Hotel, March 13, 2019. Congregating 500 attendees, the SuperMeetup will act as a platform for discussion on the past, present, and future of the ever-larger growing Ethereum ecosystem.

The SuperMeetup will provide participants with the opportunity to learn from the leading voices in the Ethereum ecosystem as key members of the Ethereum Foundation and Ethereum Community Leaders from all across Asia come together for an informative evening of keynotes, panel discussions, and AMAs.

Speaking at the event, Ethereum creator Vitalik Buterin will provide invaluable insight into what 2019 has in store for the development of the decentralised platform. Additional confirmed speakers include Jehan Chu, Co-Founder and Managing Partner at Kenetic Capital; Shaun Djie, Co-founder and COO of Digix; Kazuki Obata of Smart Contract Capital; Brian Cheong of TTC Protocol; Chih-Cheng Liang of Ethereum Research, James Zaki of Ethereum Sydney, Veronica Andrino of Ethereum Boracay, and Teguh Kurniawan Harmanda of TokoCrypto.

Participating communities include Ethereum Hong Kong, SingaporeShanghaiTaipeiPhilippinesJapanIndonesia, and Seoul.

The event is free to attend and will take place at 6:30 PM on March 13, 2019, at TOKEN2049 in the Kerry Hotel, Hong Kong.

For more information and to register please visit: https://www.ethereumsupermeetup.token2049.com/

 

SOURCE Ethereum SuperMeetup

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Banking & Financial Service

New eToro Survey: Nearly Half of Millennials Trust U.S. Stock Market Less Than Crypto

Vlad Poptamas

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Photo source: careerthoughts.com
Reading Time: 3 minutes

 

Almost half of Millennial online traders have more trust in crypto exchanges than the U.S. stock market, according to a survey from eToro U.S., a leading global investment platform. The nationwide survey of 1,000 online traders found that 43 percent of Millennial online traders trust crypto exchanges more than the U.S. stock exchanges. Conversely, 77 percent of Gen X respondents trust stock exchanges more.

Guy Hirsch, Managing Director of eToro U.S. said: “We’re seeing the beginning of a generational shift in trust from traditional stock exchanges to crypto exchanges. At the heart of this change are the asset classes themselves. Younger investors’ experience with the stock market has seen a great deal of loss of trust, with the fall of Lehman Brothers because of irresponsible practices followed by the worst recession since the Great Depression. Trust further eroded when Americans saw how hundreds of billions of dollars of taxpayers money are funneled to the largest financial institutions while their savings evaporated and how banks get free money through quantitative easing while their cost of living continued to rise.  Immutability is native to blockchains and that makes real-time audit to be sensible and cost-effective and that is why Millennials and Gen X perceive crypto exchanges as less likely to be subject to manipulation and less likely to be a place where bad actors get rewarded with taxpayer money. As more investors become educated on the benefits of blockchain we’ll continue to see this trend play out.”

Two-thirds of Millennial crypto traders say they have more faith in crypto than the stock market. Even among Millennials that don’t trade crypto, one-third said they would trust crypto over the stock market.

Institutional Crypto Offerings A Draw for Millennials

Despite millennials trust in crypto over traditional stock, they are still enthusiastic about the prospect of traditional financial institutions offering crypto assets. Ninety-three percent of Millennial crypto traders surveyed said that they would invest more money in crypto if it were offered by traditional financial institutions such as TD Ameritrade, Fidelity, or Charles Schwab. Even among Millennials that don’t trade crypto, 71 percent said that they would if offered by a traditional institution.

Hirsch continued: “While both crypto enthusiasts and millennials alike seem to distrust monolithic institutions like traditional exchanges and the largest investment banks that play in them, there’s a great deal of demand from younger investors for offerings from firms that are more recognizable, aren’t perceived to be bad actors and have an infrastructure that can provide personalized and tailored advice.”

Among investors across all age groups that don’t trade crypto, 59 percent of respondents said they would invest more money in crypto if it were offered by a traditional financial institution. Meanwhile, current crypto traders would be more at ease investing in the asset class if it were offered by a traditional financial institution —  92 percent would invest more money if a conventional financial institution provided this investing option.

Demand for Alternative Crypto Products

Half of online investors surveyed expressed interest in a crypto allocation in their 401k plans. Even among those that don’t trade crypto, 45 percent expressed interest in having some of their 401k allocated to crypto assets, while 74 percent of crypto traders are interested in seeing the option from their 401k provider.

Hirsch explained: “While there is clearly a demand for crypto assets in 401k portfolios, there are a number of regulatory and market changes that need to occur before it becomes a mainstream offering. We would need to see more advisors become educated on crypto assets and getting comfortable recommending their customers to shift into crypto markets from traditional equity markets. Mainstream traction will also be aided by the approval of ETFs that track crypto assets. At that point, we could see crypto offerings in 401k portfolios.”

Gaining interest on crypto assets and taking out crypto loans were also popular financial products among online investors. 76 percent of online investors would like to gain interest on crypto assets, while nearly half (47 percent) would take out a loan in crypto. Crypto traders were particularly enthusiastic about these potential offerings — 96 percent would like to gain interest on crypto assets, and three quarters would take out a loan in crypto.

 

SOURCE eToro

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