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WAX Solving Voter Apathy Problem Plaguing DPoS-Based Blockchains by Incentivizing Voting

Vlad Poptamas

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Photo source: BlockchainGamer.biz
Reading Time: 3 minutes

 

Worldwide Asset eXchange (WAX), the world’s first protocol blockchain purpose-built for e-commerce, today announced its WAX Block Rewards and Genesis Block Member programs. These programs reward WAX Token holders daily with additional tokens by incentivizing them to:

  • Vote on block producers (called WAX Guilds) and blockchain improvement proposals. These rewards are called Staking Baseline Rewards.
  • Remain long-term participants of the WAX ecosystem. These rewards are called Genesis Block Member rewards.

For blockchains that use Delegated Proof of Stake (DPoS) as its consensus mechanism like WAX, voting is crucial for healthy development. Token holders are incentivized by self-interest to vote in the protocol’s best interest. For example, if token holders were to vote in favor of a proposal that positively affects the protocol it would enhance usability and overall usage. Self-interest will drive the best decisions. The WAX team understood the dire need to incentivize voting after seeing how detrimental voter apathy has been to other DPoS blockchains.

By voting regularly, WAX Token holders contribute to the selection of quality guilds and proposals – supporting the overall health of the WAX Blockchain. WAX is ushering in a new era of blockchain communities that are active and engaged in a chain’s development because they are incentivized with rewards in the form of more tokens, called Staking Baseline Rewards.

Additionally, WAX is incentivizing WAX Token holders to become long-term-oriented community members who take part in the WAX blockchain’s healthy development by offering Genesis Block Member rewards which provide a way to double their token holdings over three years.

Earning more WAX Tokens through rewards:

When the WAX Blockchain mainnet and protocol token are released on June 30, 2019, WAX Token holders will have three ways to earn more WAX Tokens:

Staking Baseline Rewards: WAX Token holders can earn additional WAX Tokens every day with Staking Baseline Rewards, simply by voting for WAX Guild candidates. A set number of WAX Tokens will be allocated each day for Staking Baseline Rewards. The number of tokens that each individual WAX Token holder receives daily depends on their stake weight, relative to other stakers. For example, if a voter’s stake weight amounts to 0.5% of the aggregate stake weight on any given day, the holder will receive 0.5% of the daily Staking Baseline Rewards amount. More information on Staking Baseline Rewards can be found here.

Genesis Block Member (GBM) rewards: Participants of the GBM program will receive daily token rewards for three years, up to double their starting amount. For eligibility, members must participate in the WAX Token Swap that begins on June 30, 2019, where they will receive Genesis WAX Protocol Tokens. Genesis WAX Protocol Tokens will continue to produce GBM rewards every day as long as they remain staked and by leaving them uninterruptedly staked for three years, holders can double their token amount. More information on the GBM program can be found here.

WAX Guild Rewards: The WAX Blockchain is designed with 21 WAX Guilds who earn rewards for producing blocks. These WAX Guild Rewards are granted based on the number of blocks produced by each WAX Guild. 36 standby guilds can also earn a share of WAX Guild Rewards.

“The WAX protocol uses a delegated proof of stake mechanism to validate transactions rapidly and cheaply,” said William Quigley, CEO of WAX. “DPoS is well-suited for high volume industries like e-commerce and virtual item trading, where fast processing time is expected. But DPoS does have a drawback. It depends on a continuous process of voting. Voter apathy is the kryptonite of DPoS. So we’ve designed WAX with multiple incentives to boost voter participation.”

Even more ways to earn WAX Tokens are coming in the future including additional types of WAX Block Rewards, becoming a dApp developer, becoming a Transfer Agent, and the WAX Marketplace program.

WAX Token holders can convert their ERC-20 WAX Tokens to Genesis WAX Protocol Tokens from June 30, 2019 to August 30, 2019. More information about the token swap can be found here.

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Stan Group Launched Buy-a-Brick to Reward Staff Members Through Revenue Sharing

Alexandru Marginean

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Pexels & AlexM
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An innovative staff incentive programme leveraging blockchain and real estate tokenization technology

Stan Group (Holdings) Limited (“Stan Group”) announced the launch of Buy-a-Brick, an innovative employee incentive and recognition programme that applies blockchain technology and real estate tokenization to enable Stan Group employees to generate wealth alongside Stan Group.

Committed to driving corporate innovation, Stan Group has pioneered the application of real estate tokenization to employee incentive and recognition. Buy-a-Brick is designed to motivate staff engagement in innovation, cultivate intrapreneurship and recognize staff for the efforts. Unlike other conventional revenue-sharing models, Buy-a-Brick provides employees with the opportunity to share the future capital gain of a building, without making any monetary contribution. A “Brick” is a digital token stored on the blockchain, which represents a smart contract for a selected building. By participating in Buy-a-Brick, if the property selected is sold and profit is made on the sale of that property, the brick holders will be entitled to share the profit made.

“We are thrilled to launch Buy-a-Brick for internal staff as it redefines staff appreciation. I believe every one of our staff members plays an integral role in the Group’s success and should be able to reap the reward and share the value created,” said Stan Tang, Chairman of Stan Group. “The launch of Buy-a-Brick has cemented the leading position of Stan Group in corporate innovation and entrepreneurship. Buy-a-Brick started with a dream, through matching the idea with resources within our business ecosystem, it is now a reality. I hope to ignite innovation and initiate change within and outside the Group, and shape a better future for entrepreneurs and all.”

Buy-a-Brick is the newest addition to the existing Stan Group credit system, where employees earn points with innovative business pitches, business referral, attending design thinking and other talent development workshops, etc. There are two types of points, namely Credit Point and Shared Value Point. With Credit Point, employees can redeem vouchers, hotel stay, and even an extra day off. On the other hand, the new Shared Value Points can be used to redeem a “Brick” at Buy-a-Brick.

About Stan Group

Stan Group (Holdings) Limited (“Stan Group” or “the Group”) is a leading conglomerate rooted in property with a wide array of diverse businesses. Committed to sustainable business development and social investment, the Group manages a HK$60 billion real estate portfolio in strategic partnership with the Tang Shing-bor family and operates more than 40 respected brands across five business pillars: property, hospitality, communication services, financial services and The STILE, innovative businesses with social purposes. Dedicated to innovation, collaboration, human focus and entrepreneurship, the Group’s core values empower it to achieve the vision of driving the vibrancy of society, and the mission of creating shared value (CSV) for shareholders, business partners, customers, employees and the community at large.

 

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Artificial Intelligence

Malta AIBC Summit secures largest crowd for 2019

Alexandru Marginean

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6000+ to attend Europe’s premier event for blockchain, AI, and emerging tech

 

Malta AI & Blockchain Summit will be Europe’s largest event for the blockchain, AI, and emerging tech sectors, it was today confirmed by events company SiGMA Group – the team behind the forward-looking business technology expo.  More than 6000 are expected to attend the show, taking place on 7th and 8th November at the Intercontinental Hotel in St Julian’s, Malta.

Many delegates will likely be attending the various conferences and workshops at AIBC Summit, which have always been extremely popular.  Headline topics will include the Future of Fintech, Business and Emerging Tech, Innovation, and of course, Regulation. Leading the discussions will be Joseph Muscat (Malta Prime Minister), Silvio Schembri (Malta Financial Services, Digital Economy and Innovation), Anthony Pompliano, AKON, Ian Balina, Matt Greenspan, Yorick Wilks, David Orban, Miko Matsumura, Grace Rachman, Tim Draper, Virgil Griffith, and Alfio Bardolla.

In addition to this enviable schedule of engaging content, the AI Start-up pitch will highlight 10 of the best Start-ups at the conference (there will be 100 or more in the Start-up village).   Each of these 10 companies will pitch their concepts and services to a panel of judges, with one set to win a business-supporting package for the year.

The AIBC Awards on 7th November will be a glittering celebration of the best of the best in the worlds of AI, blockchain, tokenisation, robotics, IoT, and more.  A charity event will wrap up the evening, with the intention of raising a 5 figure sum for the SiGMA Foundation’s global activities to help those in need.

Finally, this year’s show also adds glitz and glamour to the proceedings, courtesy of Grammy Awards-winning artist Akon, who will be delivering a keynote on the main stage about his West African AKOIN project, as well as performing at the extravagant closing night on Friday 8th November.

Eman Pulis, CEO & founder of SiGMA Group and AIBC Summit, said, “We’re so excited to bring this third edition of AIBC Summit to fruition in November.   Alongside the latest government initiatives to further establish Malta as Europe’s leading hub for technology, our wider Malta Week activity will develop the synergy between the blockchain and medical cannabis sectors, offering a profitable new direction for smart DLT investors.  It’s set to be a busy but successful week for everyone!”

– ends –

For sharing in social media, please use the handle: @AIBC Summit

Telegram: https://t.me/maltablockchainsummit

Hashtags: #AIBCsummit #BlockchainIsland

For further information, please contact: pr@maltablockchainsummit.com 

About AIBC:

Malta AI & Blockchain Summit is a bi-annual expo covering topics relating to the global sectors for blockchain, AI, Big Data, IoT, and Quantum technologies.  The event includes conferences hosted by globally renowned speakers, workshops for industry learning and discussion, an exhibit space accommodating more than 400 brands and much more.

The first Malta Blockchain Summit took place in November 2018 at the Intercontinental Hotel in St Julians, Malta, attracting 8,500 attendees from over 80 countries worldwide, with 300 sponsors and exhibitors, 200 speakers, and No. 1 AI VIP (Sophia the world’s first robot citizen). With strong support from the Maltese government, the event has quickly established itself as one of the world’s leading destinations for the growing sectors of AI, Blockchain and DLT, IoT, and other vertical industries. At the 2018 event the Maltese government introduced 3 new bills to support the growth of the sector and promoting Malta as the “Blockchain Island”.

AIBC Summit Official Channel:

https://t.me/maltablockchainsummit

 

AIBC Summit Official Group:

https://t.me/joinchat/OldghxVZWtOj_FedxyL

 

AIBC Media Group:

https://t.me/joinchat/NBq9J1Qq6rjR6aUrZohq1w

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Asia

ChainPoint 19 Conference | Connecting people, making future visible.

Alexandru Marginean

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Source: Nooor Blockchain Armenia
Reading Time: 2 minutes

ChainPoint 19 Conference – commenced in Yerevan, Armenia for the second time, on the 14th of October, 2019. The conference was hosted by Nooor Blockchain Armenia and suffice as the opening partner event for the Aurora Forum.

About five hundred attendees gathered in the beautiful Dvin Hall to discuss the current state of blockchain and future tech, where it is headed, and the true potential that lies within the Armenian ecosystem. Speeches by Vigen Arushanyan, President of Nooor Blockchain Armenia, Tigran Khachatryan, the Minister of Economy of the Republic of Armenia, and Noubar Afeyan, Co-Founder of Aurora Forum, opened the ceremony.

Over the fulfilled two-days-program, there were 16 presentations, 7 panel discussions and a whole lot of networking!  The key speakers included Global Crypto Leader and FinTech Leader for Asia at PwC Henri Arslanian, the Minister of Economy of the Republic of Armenia, Tigran Khachatryan, the Deputy Governor of the Central Bank of Armenia, Vakhtang Abrahamyan, the Deputy Governor of the Central Bank of Armenia, Chris Emms, the Business development manager at Bitcoin.com.

Topics of the the hottest panel discussions centered around:

  • the regulatory aspects of crypto-assets
  • Armenia as a home to future tech companies
  • investments opportunities in blockchain
  • the latest crypto trends and the rise of exchanges
  • the merging of FinTech with blockchain.

The conference was an exceptional way to converge Nooor’s international blockchain community and local enthusiasts of the technology. ChainPoint became a cornerstone of opportunity, investment, and new beginnings. Without a doubt, Armenia established itself on the world blockchain map, showcasing the untapped resources that the region can offer.

In the scope of the ChainPoint 19 Conference, we had a networking event at the Armenian General Benevolent Union (AGBU), flavoured with Henri Arslanian’s book presentation “The Future of Finance: The Impact of FinTech, AI, and Crypto on Financial Services”. In the framework of AGBU’s Bridge for CSO’s program Henri Arslanian was appointed  as the Goodwill Ambassador for Nooor Blockchain Armenia. With this there are a number of projects coming.

Additionally, during the conference we had witnessed the most outstanding speeches delivered from all the stakeholders involved in the development of blockchain in Armenia. Vakhtang Abrahamyan, the Deputy Governor of the Central Bank of Armenia, proposed his own vision towards the regulatory issues and stated that they are open to discussions and are looking at the market demand.

Parallel to the conference there was an Expo area where local and international businesses and organizations had the opportunity to present their offerings and receive feedback from the community.

One of the most noteworthy moments of the conference was the startup battle, which included a $350,000 prize fund raised by, CV VC labs, AE ventures, SmartGateVC, x10 Agency, ECOS and InnMind. The Prizes were granted to four lucky startups: CoinStats – the official portfolio tracking app of ChainPoint, To the Moon, Creatr and GeBeCert/SmartCheck.

ChainPoint 19 Conference is officially a part of the history now. See you at ChainPoint 2020 and let’s #thinkthefuture together!

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