Today’s version of Bitcoin in Brief showcases the continued fast tempo at which the cryptocurrency revolution is disrupting all segments of the enterprise world, from the grownup leisure trade, to inventory exchanges and even social networks.
Also Read: Details Emerge on Foxconn-Manufactured Ultra-Secure Crypto Phone
Stripper Promotes Bitcoin for the Adult Industry
Brenna Sparks, the unique dancer final featured in the information a few Las Vegas membership the place strippers settle for bitcoin funds by way of QR tattoos, has revealed a weblog post in an grownup leisure trade portal explaining the benefits of cryptocurrency to her colleagues. While she notes it will probably assist with privateness, fixing piracy and different points, the primary benefit helps individuals in the enterprise keep away from paying nearly 50% to middlemen.
Sparks writes: “Every time you perform or make content and distribute it, you’re losing up to half of your earnings to who-knows-what on fees alone…Nothing is more discouraging than to watch yourself give up nearly half of your earnings ‘just because’…Although greed does play a role, what plays an even bigger role is discrimination. The reason this issue exists is because common payment processors like Paypal, Google, Stripe, etc. will not allow you to perform a transaction related to any adult work, and Banks like BofA or Chase will close your account if they suspect you do adult work…Cryptocurrency offers a simple solution – ultra-low fees, no discrimination, and instant transactions anywhere in the world. No bank, company, or government can tell you what you can or cannot use your money on or where you can use it, and no more ultimatums that studios and performers have grown accustomed to.”
Facebook Explores Blockchain
Facebook has fashioned a brand new group of high executives to discover the makes use of for blockchain doubtlessly out there for the corporate to enhance its enterprise. This in accordance to a number of sources acquainted with the matter cited by Silicon Valley media recode. The group is headed by David Marcus, the previous head of Facebook Messenger till this transfer. The firm didn’t present any particulars in regards to the functions they are going to be engaged on, nevertheless, Marcus is former president of Paypal and presently seats on the board of Coinbase, so speculating about cryptocurrency-enabled funds by way of messaging is just not completely out of the query.
Kin Forks Stellar
While Facebook is simply exploring, different social app builders are already implementing. The Kin Ecosystem Foundation, the governance physique for Kin which can be built-in into Kik as the first transaction currency, has introduced that it’ll construct its personal blockchain primarily based on Stellar. This whereas persevering with to use ethereum for safety and liquidity to token holders. “Most crypto projects to date have been technology-driven first and product-driven second. Kin has always been the opposite,” mentioned Ted Livingston, Founder and CEO of Kin and Kik. “After working heads down alongside the best minds in the industry we came to the conclusion that a hybrid solution of Ethereum and our own fork of Stellar would benefit the Kin Ecosystem, both short and long-term. Our goal is for Kin to be the most used cryptocurrency in the world, and this will help get us there sooner.”
Kik Messenger has over 300 million registered customers, and is usually fashionable with youngsters. It is thought for options preserving customers’ anonymity, akin to permitting registration with no phone quantity. Kin was meant to be an ERC20 token however the builders had been annoyed with Ethereum’s efficiency and ditched the plan. Its ICO earlier this yr raised practically $100 million from greater than 10,000 buyers from 117 nations.
ICE to Launch Bitcoin Platform?
Intercontinental Exchange (NYSE: ICE), the guardian firm of 23 regulated marketplaces together with the New York Stock Exchange, has reportedly been engaged on a web-based buying and selling platform that will permit huge buyers to purchase and hodl bitcoin. This in accordance to The New York Times, citing emails and paperwork seen by the newspaper and 4 individuals briefed on the trouble who requested to stay nameless as a result of the plans had been nonetheless confidential. Details of the platform that Intercontinental Exchange is engaged on haven’t been finalized and the venture may nonetheless not come to fruition, nevertheless, this information serves as one other sign for Wall Street’s robust need to faucet into the bitcoin market.
Sex Scandal Brings Down NY AG
Speaking about New York, the state’s Attorney General Eric Schneiderman has resigned simply hours after the information a few violent intercourse scandal broke. As you might recall, Coinbase not too long ago applauded the investigation into the operations of bitcoin exchanges launched by the NY AG in sharp distinction to the rebuke by Kraken CEO which took a courageous stand in opposition to the American regulatory overreach.
The New Yorker journal reported that 4 ladies complained about non-consensual bodily violence by the AG. “In the privacy of intimate relationships, I have engaged in role-playing and other consensual sexual activity,” Schneiderman mentioned in an announcement. “I have not assaulted anyone. I have never engaged in non-consensual sex, which is a line I would not cross.”
CZ Defends ICOs
ICOs have gotten such a nasty popularity not too long ago that many tasks at the moment do their finest to name their token crowdfunding by every other identify. But now Changpeng Zhao , the Binance CEO, has come to the protection of preliminary coin choices. The essential argument by CZ is that ICOs allow many extra tasks to get funded than by conventional VC means, thus accelerating the tempo of innovation. They also permit entrepreneurs to create options as a substitute of losing time on making an attempt to increase funding in the previous methods, and smaller buyers can get in on the motion that’s usually reserved for accredited buyers solely.
Regarding the difficulty of fraud, CZ writes: “Scams exist everywhere, in every industry. I still receive phone calls and SMS telling me I won a grand prize, but I need to make a bank transfer to someone first. Does that mean we should stop using phones, SMS, and banks? The same law enforcement dealing with scams in traditional industries still applies in new industries. We don’t need to re-invent the wheel here.” And as for failures, he provides: “Most ICOs are new startup projects, and have a high rate of failure, just like in traditional startups. This is nothing new. Most ICO investors already know this.”
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