Taking a look at the Blackmoon Crypto ICO, Blackmoon Crypto is an Asset Management platform for the Ethereum Blockchain.
18 December 2017, Zug, Switzerland, trade.io, a next-generation cryptocurrency exchange, has announced a partnership with blockchain-based identity verification pioneer, Civic. The agreement allows trade.io the ability to provide Civic’s revolutionary identity verification services for the convenience of future users in the trade.io ecosystem. Civic’s verification service reduces the overall cost of know your client (KYC), removes inefficiencies, enhances security and privacy, and greatly improves the user experience.
trade.io, which also provides the industry’s first liquidity pool, which distributes up to 50% of daily revenue to liquidity pool participants, intends to utilize Civic’s identity verification services to qualify clients for the liquidity pool and trade.io exchange. By offering Civic’s services, it will be able to cut down the time to onboard clients in an AML-compliant manner significantly.
Commenting on the partnership, CEO Jim Preissler commented, “In the world of finance there is a delicate balance between being AML compliant, but also providing your customer an efficient, scalable solution to make sure they’re accessing our platform, and trading in a short amount of time. After extensive vetting, we were happy settling upon Civic who is without question the leader in this field.”
Civic CTO, Jonathan Smith remarked, “We were intrigued with trade.io’s experience in the industry and approach to ensuring compliance and adhering to regulatory matters. We are looking forward to a long mutually beneficial relationship with trade.io.”
trade.io is currently in the midst of its ICO and has raised over $18.2M thus far from over 7,000 participants. In October, Civic made headlines by raising over $30M which at the time was the largest ICO raise of 2017.
Cookeville, TN- Speculative Tokenised Trading Exchange, otherwise known as SPECTRE, is a new and innovative platform designed to rid the financial market of the ethical issues it faces. SPECTRE was first developed in the fourth quarter of 2016 by Karan Khemani and Zisis Skoulouds of Neuchatel Ltd. Both of these men have strong backgrounds in the financial world. Khemani once held executive positions at companies such as J.P Morgan and Goldman Saches. He is a blockchain enthusiast who received his BSc and MSc in Decisions Sciences from the London School of Economics (LSE). Khenamani is responsible for the design, architecture, and expansion of SPECTRE into the marketplace. Skoulouds is an electrical engineer who has previously worked at INO SA & Siemens where he designed and implemented their ERP software. Skoulouds received his MSc in Decisions Sciences from the LSE and is responsible for the financial forecasting and risk management of SPECTRE’s liquidity pool. These two men, with the creation of SPECTRE, seek to rid the financial marketplace of the ethical issues of the traditional methodology.
The traditional financial trading model is rife with unethicality. The current industry loss ratio is 70-90% and this is in large part due to the manner in which traders are taken advantage of by brokers. These middlemen, whose job it is to look out for the interests of their clients, have been known to practice less than ethical methods of increasing their commission. They can prevent or hinder withdrawals, manipulate trades by dishonestly reporting market prices, trade on behalf of the trader without their explicit permission, and otherwise taking advantage of both experienced and inexperienced traders alike.
The lack of transparency within the traditional market is due in large part to the practices of brokers. Brokers, in the traditional system, make the majority of their commission off of the loss of traders. This gives them the motivation to use a combination of unethical tactics in order to maximize their profits.
The brokers who use these unethical tactics often offer bonuses to new traders without alerting them to an important detail. Their money is now tied in with the bonus within the brokers’ account and, until they make a certain percentage of a profit above the bonus, their money cannot be withdrawn. Others are more forthcoming but still seek to prevent withdrawals and will overwhelm their traders with new paperwork and enthusiastic urges to place more money into their trading account. There have even been reports of traders withdrawing their money only for it to never materialize into their bank account.
Brokers also have been known to dishonestly report current marketplace prices. The feeds from which they receive their prices are not readily available to traders which allow brokers to manipulate the numbers until a trader’s win turns into a loss. This allows the broker to further manipulate the trade by hedging against the trader’s bet.
SPECTRE seeks to disrupt this by eliminating the roots of the problem; the brokers and the lack of transparency they foster. Oto Suvary, Director of R&D at SPECTRE writes:
“Because we remove B-Book brokerages and replace them with immutable smart contracts, we are addressing a major need with our prediction market platform by preventing many forms of global financial fraud.”
SPECTRE is built upon Ethereum blockchain technology to foster transparency by removing the broker from the system entirely. Ethereum allows traders to use crypto-wallets to invest in the liquidity pool, rather than investing directly into a broker account, which makes human intervention by SPECTRE within trader accounts impossible.
The liquidity pool, along with not having a direct access to trader accounts, is directly funded by token purchases. Each trader that invests in the liquidity pool, irregardless of the token they invest in, has a share in it.
SPECTRE has two distinct token types for their investors to buy. Their Dividend Token, also known as D-SPECTRE coin or D-Token, is the base token investors can buy. It pays out a 2% dividend, allocated monthly, to all D-token holders for each time that a trader makes a trade. SPECTRE also gets a 2% cut, allocated in the form of a technology fee, with each trade. This allows profits to be made off of volume rather than solely from win/loss ratios. The second token type is their Utility Token. This token is a premium token, known as U-SPECTRE coins or U-Tokens, that do not get the typical 2% dividend payout. Traders who buy this token instead receive a 1-5% higher trade out pay in comparison to the d-tokens. They also get access to more sophisticated smart contract options such as exotic trade types, knock-in-knock-outs, barriers, ladders, and other options. 3% of SPECTRE’s profits from fees are additionally devoted to buying back U-tokens through their buyback program. This allows the dynamics of the liquidity pool to be changed according to the daily needs of the platform. This, coupled with their adaptive trading program, increases transparency within the financial marketplace.
Their adaptive trading program uses a variety of algorithms to protect traders and promote transparency. Processes as emotion control, risk management, and trade opportunity recognition are managed by these algorithms. These processes assist in keeping track of traders strengths, weaknesses, and other statistics which are useful to the improvement of the trading experience. SPECTRE keeps track of these and alerts the trader if they’re about to make a costly mistake. Traders are also allowed to monitor the live value and fluctuations of the liquidity pool along with the dividend payouts made. This, unlike traditional models where this is not possible, allows the trader to be completely certain no fraud has occurred. With SPECTRE’s transparency, traders can have complete faith in the fact that their tokens are being used as intended. This increases transparency and protects the trader from fraud and unethical behavior.
SPECTRE’s token sale starts on the 17th of November 2017 at 12:00 PM GMT and ends on the 10th of December 2017 at 11:59 AM GMT. The public alpha went live in September 2017 and the connection to the live Ethereum main net environment is scheduled for the first quarter of 2018. Access will be made available on www.spectre.ai.
Bitcoin news and more. Coinbase vs the IRS, John Mcafee says Bitcoin to $1,000,000 by 2020, Nasdaq to launch Bitcoin futures, Katy Pery and Warren Buffet Talk Crypto plus more on this episode of Crypto314.
Talked about in this episode:
Coinbase ordered to report 14,355 users to the IRS: https://www.theverge.com/2017/11/29/16717416/us-coinbase-irs-records
Katy Perry & Warren Buffet Talk Cryptocurrency: https://blockberg.io/katy-perry-warren-buffet-talk-cryptocurrency/
John Mcafee Will “Eat His Own Dick” If Bitcoin Not $1 Million By End Of 2020: https://blockberg.io/john-mcafee-will-eat-his-own-dick-if-bitcoin-not-1-million-by-end-of-2020/
Mike Novogratz – “Bitcoin could be at $40,000 at the end of 2018” : https://blockberg.io/mike-novogratz-bitcoin-could-be-at-40000-at-the-end-of-2018/
NASDAQ To Offer Bitcoin Futures Trading In 2018: https://blockberg.io/nasdaq-to-offer-bitcoin-futures-trading-in-2018/
Japan’s Biggest Exchange Bitfyer Announces Expansion To US Markets: https://blockberg.io/japans-biggest-exchange-bitfyer-announces-expansion-to-us-markets/
Wall Street Strategist Calls Bitcoin “Digital Gold” For Millennials, Could Hit $100,000 Price Range: https://blockberg.io/wall-street-strategist-bitcoin-100000/
Gold Fund Investing In Bitcoin – Calls It “Digital Gold”: https://blockberg.io/gold-fund-investing-in-bitcoin-calls-it-digital-gold/
Credit Suisse Analyst Bullish On Square After Bitcoin Announcement: https://blockberg.io/credit-suisse-square-bitcoin/
House of Lords Calls For Government To Make Blockchain Investment: https://blockberg.io/house-of-lords-calls-for-government-to-make-blockchain-investment/
Raiffeisen Bank First Austrian Bank To Join R3 Blockchain Consortium: https://blockberg.io/raiffeisen-bank-first-austrian-bank-to-join-r3-blockchain-consortium/
Horizons Blockchain ETF “Fund” Up For SEC Approval: https://blockberg.io/horizons-blockchain-etf-fund-up-for-sec-approval/
Samsung SDS & Seoul Metropolitan Government Sign Deal To Build Blockchain Platform: https://blockberg.io/samsung-sds-seoul/
EOS Launches Testnet For Developers: https://blockberg.io/eos-launches-testnet-for-developers/
US Federal Reserve To Create It’s Own Cryptocurrency?: https://blockberg.io/us-federal-reserve-to-create-its-own-cryptocurrency/
Microsoft and IOTA launch first cryptocurrency market for the Internet of Things: https://thenextweb.com/hardfork/2017/11/28/iota-microsoft-data-marketplace-cryptocurrency/?amp=1
90% of Crypto Mobile Apps ‘In Trouble,’ Security Report Claims: https://www.coindesk.com/90-crypto-mobile-apps-trouble-security-report-claims/
Nearly 4 Million Bitcoins Lost Forever, New Study Says: http://fortune.com/2017/11/25/lost-bitcoins/
Former SpaceX Intern Thinks Elon Musk Is Satoshi Nakamoto: https://blockberg.io/former-spacex-intern-thinks-elon-musk-is-satoshi-nakamoto/
An update to the Bitcoin Time Traveller video I made. Kinda creepy how accurate that 4 year old reddit post was.
Bitcoin reaches $10,000 in 2017 just like the August 31, 2013 post had suggested it would.
North Korean University teaches Bitcoin having experts worried.
And Former Swiss military bunker could be the first citadel?
Bitcoin Time Traveller Story: https://blockberg.io/bitcoin-time-traveller-predicts-bleak-future-brought-on-by-bitcoin/
NK story: https://news.vice.com/story/north-koreas-bitcoin-crash-course-has-experts-worried
Swiss bunker: https://www.weforum.org/agenda/2017/10/this-bunker-in-the-swiss-mountains-is-keeping-bitcoin-safe
This episode looks at bitcoin reaching $10,000 USD.
Can it continue to go higher?
What portion of the global asset market are cryptocurrencies?
2-4 Million Bitcoin are lost forever, Bitcoin to appear on the Big Bang Theory and finally wrapping up with the CHAD FAD™.
29 November 2017, Zug Switzerland trade.io is delighted to announce that it is funding two post-doctoral seats at the University of Nicosia to focus on advanced research in Distributed Ledger Technology (DLT). Specifically, trade.io will be supporting post-doctoral research at the University of Nicosia in the areas of 1) Distributed Ledger Technology, with a specific focus on side-chains and cross-chain interoperability, and 2) smart token corporate governance best practices and implementation.
With this important initiative, trade.io demonstrates its commitment to improving the state-of-the-art in the DLT field by supporting high caliber academic staff to pursue topics that will improve the functionality, interoperability, and governance of blockchain technologies.
trade.io CEO, Jim Preissler said of the agreement, “Without a doubt, this is a major development for us, in that it provides trade.io with access to some of the brightest and most innovative minds in blockchain and digital currency. The University of Nicosia has embraced blockchain technology since 2013, being the first to accept bitcoin for tuition and to publish academic certificates on the blockchain”. Preissler continued: “They were also the first university in the world to offer coursework and an accredited academic degree program in this field (MSc in Digital Currency) and are considered a global leader in academia in this area.”
Antonis Polemitis, CEO of University of Nicosia, remarked on the collaboration, “We very much welcome and commend trade.io’s willingness to fund and support technical research in some of the most interesting (and difficult) topics in Distributed Ledger Technology. We are deeply interested in further research and development in these areas that will benefit the whole community and field at large. Given the rapid growth of value being transacted globally on blockchains, it is critical that firms in this field contribute, both financially and technically, to basic academic research in the technologies that underpin this new field.”
The call for post-doctoral researchers under this program will be open on December 4th at:
trade.io is building a blockchain-based trading platform for cryptocurrency and traditional financial assets. More information about trade.io can be found at: www.trade.io
6300 Zug, Switzerland
The University of Nicosia (UNIC) is one of the leading comprehensive universities in southern Europe with over 12,000 students. More information about the University of Nicosia can be found at: www.unic.ac.cy