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The pursuit for speedy delivery of democracy has encouraged numerous countries to turn to e-voting and more countries are testing out blockchainvoting.

Switzerland for example recently tested out blockchainvoting especially because it promised to deliver a faster and easier voting experience.Luxoft, Luzern?s Blockchain Lab and the city of Zug recently released a joint report revealing positive results of an e-voting exercise that took place in Zug.

?It is nice to see that, despite some minor difficulties, many people in Zug are happy to live in such an innovative community,? stated Zug city?s president Dolfi M?ller.

Zug residents welcomes blockchain voting

Now, most of the city?s residents like the idea of a decentralized blockchain voting system according to the results. About ?80% of Zug?s respondents welcomes the blockchain voting idea. The remaining few are opposing it. Majority of the residents are convinced that introducing e-voting is the best way forward towards facilitating a faster and easier voting exercise.

South Korea has also been testing out blockchain-based e-voting. A Japan Timesreport published earlier this year revealed that Tsukuba city launched a blockchainvoting system. However, it is specifically for projects that touch on social contribution projects. West Virginia also has a blockchain voting system but for overseas troops.

Why Blockchain?

Blockchain is a highly secure and efficient. Meanwhile, the traditional voting systems are anything but efficient or secure, thus the pursuit for something. But here is the kicker, blockchain technology is still relatively new and it eliminates the need for centralized oversight. It doesn?t end there.

Since blockchain-based e-voting is digital, it is rather difficult to convince the masses. Digital platforms openup opportunities for hackers and thus making it hard to prove that such a system is hack-proof.

Blockchain is digital voting?s current best bet

It gets worse due to challenges such as the complexity of user systems or even mechanical issues. The thing is, blockchain technology has a lot of issues that it needs to address. However, it is the only solution that is this close to achieving a self-authenticating and transparent voting system. Fortunately,blockchain adoption has been picking up the pace although it has a long way to go.

What is the bottom line?

The bottom line is that convincing governments to accept blockchain voting is still an uphill battle. You might be wondering what the future will hold. The crazy thing is that blockchain will probably play a huge part in it. Blockchain voting will be among the many ways that the technology will be applied. Countries that want to achieve efficiency and transparency should therefore consider adopting blockchain technology.

The post Blockchain Voting Might Be A Recipe For Progress In Many Countries appeared first on dippli.

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Questions are lingering over which U.S. firm is going to be the first to issue its own digital currency. Already Eastman Kodak has disclosed that it is considering unveiling a cryptocurrency. A Kodak brand licensee, Wenn Digital, is expected to issue these new coins meaning that it will not be exactly a product of Eastman Kodak.

According to most digital currency investors the adult entertainment sector is going to be the first to issue its own virtual coin. Also touted as likely to issue a digital currency are gamer apps. According to an angel advisor and investor in the Bay Area, Elena Masolova, there is speculation that adult website Pornhub with its half a billion users will join blockchain.

Masolova added that the management of the adult website had been taking part in blockchain conferences of late. Per Masolova a gaming firm known as WarGaming was also a likely candidate for the launch of a virtual currency.

Adult entertainment

Mid last month adult entertainment firm, Playboy, disclosed that it would be developing its own virtual currency wallet in order to allow for payments of products and services of the firm in virtual currencies. According to the chief operating officer of Playboy, Reena Patel, this would give fans of Playboy more payment choices. In a statement Patel added that the adult entertainment firm would initially be accepting Vice Industry Token (VIT). This is a utility token that was launched earlier in the year and which lets Playboy video audiences enjoy discounts. During its Initial Coin Offering VIT raised approximately $14.5 million.

However the one American firm that would have the biggest impact were it to launch a virtual currency is online retail giant Amazon. Not only is Amazon said to be venturing into financial products and services but the e-commerce giant is making investments in blockchain technology which means it has the infrastructure set up if it ever wanted to delve into virtual currencies.

Huge impact

While there are no indications that Amazon is about to launch a digital coin the impact of that if it came to pass would be huge. For one it would enable mass adoption as it would ensure that virtual currencies gained mainstream acceptance. This would have the ripple effect of more people buy virtual currencies with the hopes of making a quick buck. One advantage that Amazon would enjoy is that it already has a customer base and would therefore not require to raise funds for a new coin via an Initial Coin Offering.

However despite a lot of startups and investors in Silicon Valley being highly involved in virtual currencies the vanguards have kept away from the sector. Some are even turning their backs on virtual currencies, Stripe a Y-Combinator startup used to accept bitcoin (BTC) but now no longer does.

While there is a lot of appreciation for blockchain technology the same cannot be said of virtual currencies. The regulatory crackdowns on Initial Coin Offerings by the likes of the U.S. Securities and Exchange Commission means that a lot of established Silicon Valley titans are adopting a wait-and-see attitude.

Dippli is an independent media outlet that covers the current events in the crypto space. Got breaking news or a story to share? Then feel free to contact us at news@dippli.com.

The post Will A Digital Currency Be Issued By An American Firm In The Near Future? appeared first on dippli.

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Legendary investor and chief executive officer of Berkshire Hathaway, Warren Buffett, is on record as having said that in the markets it is wise to exercise caution when everyone else is acting greedily. His exact words were ‘Be fearful when others are greedy and greedy when others are fearful.’
It should therefore have come as no surprise when earlier in the year Buffett said that there will be a bad ending for virtual currencies. At the time he made the statement Bitcoin (BTC) had a few weeks prior just hit a record high and there was feverish excitement in the sector with more and more people piling in to invest in digital currencies.

Optimistic forecasts

During that period predictions were made that Bitcoin would hit a high of $100,000 before the end of this year. While the price of Bitcoin was around $14,000 at the time it is now hovering below $7,000. Other virtual currencies have also fallen drastically. This was not the first time that Buffett was dismissing virtual coins as he also raised the same concerns he has over them in 2014 when he called Bitcoin a ‘mirage’.
By urging investors to be fearful when others are greedy and greedy when others are fearful it has been explained that Buffett meant that when there is greed in the market prices tend to rise dramatically as everyone wants a piece of the action. The reason Buffett advises caution during such a time is the fact that purchasing an asset then the price is likely to be high and one will thus overpay, a fact which will lead to anemic returns in future. However when market players are acting overcautiously and everyone is fearful, the price of assets is likely to be depressed and thus one is likely to get value for their money if they buy.

American Express

Examples of Buffett employing his strategy include the case of American Express. In the 1960s the stock of financial services company fell by half after a scandal was discovered where collateral that had be used was found to be non-existent. After undertaking a review of the business model of the company Buffett decided that there would be no material impact on the moat of American Express and thus invested in the stock. In the next half a decade the value of American Express had increased five-fold.
By warning against virtual currencies it is clear that Buffett does not see any ‘American Express’ in the sector that he would willingly invest in. However not all famed investors who come close to being compared to Buffett are heeding his advice and keeping away from digital currencies. Soros Fund Management, an investment fund that was started by George Soros, is for instance making plans to engage in the trading of cryptocurrencies. Per Bloomberg reports, the head of global macroeconomic investing at Soros Fund Management, Adam Fisher, has received approval to make investments in virtual currencies as well as trade in them. The amount of funds that Soros Fund Management currently manages is around $26 billion.

Dippli is an independent media outlet that covers the current events in the crypto space. Got breaking news or a story to share? Then feel free to contact us at news@dippli.com.

The post Be Fearful When Others Are Greedy, Buffett Warns On Cryptocurrencies appeared first on dippli.

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The U.S. Federal Bureau of Investigations has disclosed that a British national accused of defrauding amounts totaling over $36 million by not only making material misrepresentations but also misappropriating investment funds with regards to two firms, Bar Works and Bitcoin Store, has been successfully extradited to the United States.

The Briton, Renwick Haddow, was nabbed in Morocco after a provisional arrest warrant was issued last year in July. This came after fraud charges were filed against him by the U.S. Securities and Exchange Commission.

Haddow’s methods involved getting sales representatives to make cold calls on potential investors with a view to selling securities in two firms that he controlled. The alleged fraudster is said to have hidden his involvement since he had a shady past.

Non-existent executives

Per the complaint filed by the Securities and Exchange Commission Haddow presented to potential investors promotional materials that featured senior executives who actually didn’t exist. Additionally Haddow engaged in a misrepresentation of key facts with regards to the operations.

The Briton is alleged to have diverted over 80% of the funds that were raised for the Bitcoin Store outfit. Haddow is said to have transferred over $1 million from the bank accounts of Bar Works to Morocco and $4 million to Mauritius.

According to materials that were presented to investors in Bitcoin Store, Haddow claimed that the outfit was a secure and convenient way of trading and holding bitcoin. Haddow also claimed that Bitcoin Store had generated gross sales running into millions of dollars. But according to the Securities and Exchange Commission Bitcoin Store neither had real operations nor did it generate the gross sales Haddow claimed it did.

Fake name

Three years ago for instance the bank accounts of Bitcoin Store received under $250,000 in incoming transfer but none of the amounts appeared to emanate from paying customers. In order to conceal his involvement, Haddow used ‘Jonathan Black’ as an alias.

Haddow also lied that he possessed wide experience in finance. The two wire fraud counts means Haddow could face up to four decades in prison as each carries a maximum sentence of 20 years.

Dippli is an independent media outlet that covers the current events in the crypto space. Got breaking news or a story to share? Then feel free to contact us at news@dippli.com.

The post Alleged Bitcoin Fraudster Extradited From Morocco To The United States appeared first on dippli.

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Christine Lagarde, the head of the International Monetary Fund has recently released some positive remarks in favor of cryptocurrency. In one of her recent blog posts, she encouraged the implementation of open-minded policies for cryptocurrencies.

The blog post highlights Lagarde’s current soft stance on cryptocurrencies and it comes just a few weeks after she warned about the dark side of digital currencies. In her new blog post, the IMF leader points out that there are potential benefits to be had through the use of cryptocurrencies such as Bitcoin.

Lagarde wrote in the blog post that: “Just as a few technologies that emerged from the dot-com era have transformed our lives, the crypto-assets that survive could have a significant impact on how we save, invest and pay our bills. That is why policymakers should keep an open mind and work toward ­­an even-handed regulatory framework that minimizes risks while allowing the creative process to bear fruit.”

The IMF Head pointed out the fact that cryptocurrencies are fast and inexpensive, meaning they are ideal for financial transactions and payment services. She also noted that privacy-centric cryptocurrencies carry more risk. This comes amid worries that privacy coins are encouraging more social evils such as funding terrorism, facilitating the sale of drugs and money laundering.

Lagarde also believes that cryptocurrency will provide a better balance in the financial industry and that it represents the next step in the evolution of the fintech industry. This is because cryptocurrencies eliminate the need for intermediaries. She also claims that it will facilitate more diversity within the financial landscape through more efficiency and security.

The post by the IMF boss points to the fact that authorities are slowly becoming convinced that cryptocurrency might be the future of monetary systems. However, there is still a long way to go before cryptocurrency becomes widely accepted. There are many issues that need to be addressed such as taxation and other legal issues which means lawmakers will have to come up with policies for such.

At the moment, there are mixed reactions with some countries taking an aggressive stance against the cryptocurrency market. Lagarde’s post is expected to encourage a positive outlook and further developments.

Dippli is an independent media outlet that covers the current events in the crypto space. Got breaking news or a story to share? Then feel free to contact us at news@dippli.com.

The post Christine Lagarde Encourages Open-minded Approach Towards Cryptocurrency appeared first on dippli.

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The chairman and chief executive officer of Berkshire Hathaway, Warren Buffett, has taken another swipe at bitcoin (BTC) reiterating an earlier warning that investors in the virtual currency will come to regret someday. According to Buffett purchasing bitcoin or other virtual currencies does not constitute investing but rather it is speculative gambling.
“The asset itself is creating nothing. When you’re buying nonproductive assets, all your counting on is the next person is going to pay you more because they’re even more excited about another next person coming along,” Warren Buffett told CNBC on the sidelines of the annual shareholder meeting of Berkshire Hathaway.

‘Rat poison squared’

According to Becky Quick a reporter for the CNBC Buffett branded the largest cryptocurrency by market capitalization ‘rat poison squared’. The longtime business partner of Buffett, Charlie Munger, compared the leading virtual currency to turds that are being traded by people suffering from dementia. Earlier in the year Buffett had also blasted digital currencies warning people to stay away from them.
Unlike Buffett though younger billionaires in the tech sector have been more optimistic with regards to virtual currencies. This includes Tim Draper, a venture capitalist; Peter Thiel, co-founder of payment services firm PayPal and Jack Dorsey, the chief executive officer of Twitter and Square. These billionaires are convinced that digital currencies are here for the long-term and will displace fiat currencies with time.

Bitcoin bull

Draper is so confident of the rise of bitcoin that he sees the cryptocurrency rising to $250,000 in the next five years. This was not the first time Draper was making a prediction about the virtual currency. In 2015 Draper had forecast that by the close of 2017 the price of bitcoin would rise above $10,000. This came to pass and even surpassed his target. However the price of the digital currency has since then fallen below $10,000.
The venture capitalist’s bitcoin holdings are estimated to be worth hundreds of millions of dollars. In 2014 Draper bought bitcoins numbering 30,000 that had been confiscated by U.S. Marshalls Service during a criminal raid. At the time he bought each of the coins at $600 apiece.

Dippli is an independent media outlet that covers the current events in the crypto space. Got breaking news or a story to share? Then feel free to contact us at news@dippli.com.

The post Warren Buffett In New Warning On Bitcoin (BTC) appeared first on dippli.

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Htmlcoin, the foundation behind the Htmlcoin (HTML) cryptocurrency is planning on expanding its business and achieving more growth and it hopes to do that by changing its digital identity.

Htmlcoin posted an update on the matter on Thursday last week revealing that it was changing its digital identity as part of its plans towards securing a stronger future. The company has changed its digital identity to Bracket and even launched a new official mascot. The Htmlcoin organization stated in the blog post on its website that it has been working on coming up with a simpler design that would complement its corporate identity.

The idea is that a simpler design is easily recognizable on small devices such as smartphones. Htmlcoin hopes that the move will help transform its identity to a more modernized form that will attract more clients. This is however not the first time that it has been rebranded. Htmlcoin was initially called Html5 when it was launched back in 2014. The identity was then switched to Htmlcoin shortly after that.

The performance of the Htmlcoin digital currency

Despite the branding, the organization will not be making any changes to its coin logo so that it will remain relevant especially for marketing campaigns in the future. Meanwhile, Htmlcoin has not been performing well for the past few months. Its price hit sub-0.000 levels towards the end of February and has since then not been able to go up past that point. Its price at the time of this press was 0.000463, with a daily trading volume of $40,594 and a market capitalization of $15,679,229.

HTML has various advantages such as the fact that it can be used as a money transfer option between two individuals without an intermediary. Payments are also fast and easy but unfortunately, it also has its drawbacks. For example, adoption has been low, meaning very few individuals or firms are using it. The other disadvantage is that payments are irreversible.

Htmlcoin hopes that the rebranding will help improve the performance of its digital coin through its pursuit for more innovative opportunities. The organization has been working on coming up with real-world use cases for dealing with existing challenges. For example, the organization already has a token creation software and a gaming app which are especially important towards providing educational tools to less fortunate or underprivileged people.

Disclaimer: Nothing in this article should be construed as financial advice in any way, nor as an encouragement to engage in cryptocurrency trading activity. This article was not sponsored by any entities or companies mentioned in the article. The only purpose of this article is to inform/educate on the topics discussed in the article.

Dippli is an independent media outlet that covers the current events in the crypto space. Got breaking news or a story to share? Then feel free to contact us at news@dippli.com.

The post Htmlcoin Is Rebranding As Part Of Its Mission To Achieve More Growth appeared first on dippli.

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Paypool.io is a blockchain-based project that has been around for roughly three years but has existed under different names during that time.

The project claims that it has a large pool of investors and its main aim is to bring the Paypool token into the market as part of its mission to provide a digital payment solution that will allow users to make payments at low costs. It promises to give users an affordable, cost-effective, and secure solution which can be used to purchase products or services and also send payments.
The Paypool token was made by the NEWS Token Pool development team and will be airdropped to holders of the NEWS Token or through a bounty campaign. This means there will be no ICO for the Paypool token.

The project is scheduled for a main-net launch in September or October this year and a total of 31,375,000 Paypool tokens will be supplied. The amount of Paypool tokens supplied will be distributed at a 5:1 ratio to the NEWS token.

Dividing the News Token Pool

NETP recently revealed that all trades revolving around NEWS shares will be suspended on August 30 this year through which NETP will issue a payout on the holdings on a 5 to 1 ratio. Any users with a holding of 50,000-plus News shares will be rewarded with 5,000 Synchrolife Tokens.

NETP also stated that it will also launch a form on September 1, through which users can submit their NETP deposit addresses so that the tokens can be airdropped in their wallets. NETP has also received approval for listing on HTML Bunker.

The post A Look At Paypool.io And What It Promises To Offer appeared first on dippli.

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A controversial white Afrikaner community in the North West Province of South Africa is taking its separation from the rest of the country to another level. Concerned with the effects of growing tensions between the majority black and minority whites, the community has unveiled what it calls a digital version of a self-declared Ora Currency E Ora.

Ora Digital Currency

Pegged to the South African Rand the new digital currency should become the official means of transactions in the town. The coin first came into being in 2004 as the local community sought to promote local spending to boost the local economy.

Impressed by the way, cryptocurrencies have taken the world, the community believes now is the time to unveil a digital version of the Ora Coin. Ora functions like a voucher in the town with a population of about 1,600 people. People who use the coin for things like shopping benefit from things like discounts. Introduction of a digital version should allow the people to enjoy low transaction costs.

Rand vs. Ora

According to the all-white community, the Ora Currency is a symbol of cultural preservation at a time when they feel under siege in the new era where tensions have hit peak levels. The president of the Orania movement, Carel Boshoff says a digital version will provide the Orania people a way of escaping from South Africa’s Rand should it come under pressure or hyperinflation.

“If the rand became so weak that one were to decide to walk away from it, one could perhaps couple (the E-Ora) to something else, such as a basket of currencies out there. Or something inside Orania. Something comparable that has value,” said the chairman of the Orania Chamber of Commerce, Daniel Dames.

Officials are inclined at tying the Ora digital currency to a more hard currency rather than fully-fledged cryptocurrencies which they fear are being fuelled by speculation. The next step in the evolution of the Orania Coin is to do away with the fiat currency and install the new digital currency as the official means of making payments.

The post White Only Digital Currency E Ora Emerges In South Africa appeared first on dippli.

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HashCash consultants is working towards providing a quick and cost-efficient remittance system from Australia. The Blockchain-based firm is targeting the lucrative $7 billion Australian remittance market characterized by migrants regularly remitting money back to their native countries.

Australia’s Remittance Industry

Australia is among the few nations embracing the globalization of workforce concept which has since seen multitudes of foreign nationals flocking to the country for employment. In most cases, the migrants make remittances occasionally to support their families back home.

This has particularly created a multi-billion dollar remittance industry that has attracted global financial institutions’ attention. Unfortunately, users have had to endure exorbitant charges from existing systems that are slow nonetheless.

Challenges of existing platforms

With the existing options, users are forced to have an account with the bank that will facilitate the transfer. A majority of the cross-border remittances in Australia is powered by the SWIFT NETWORK through which money is transferred from one bank (sender) to another (receiver).

Considering that over 70% of the remittances are made to rural areas with few traditional banking institutions, the current system inconveniences both the sender and the receiver. These challenges brought together have given birth to the futuristic Blockchain-based remittance system.

Blockchain-based system

HC Remit which operates on the company’s blockchain network – HC Net has been widely used by traditional banks to facilitate payments in cryptocurrencies.

Regarding the Australian crisis, HashCash through HC Remit seeks to remove SWIFT’s processing fee replacing it with a similar Blockchain-based messages that can be readily deployed to the bank’s existing system.

The resultant system will take only a fraction of the time used by traditional systems to settle a transaction. Also the new system will solve the problem of accessing the payments on the receiver’s end as cryptos were initially developed to facilitate payments in regions with underdeveloped banking systems.

A blockchain based remittance system besides speed and cost efficiency will also enable transparency and traceability of digital assets.

When implemented, the new system will enable migrants to seamlessly process cross-boarder payments any time with lots of ease.

The post HashCash To Power a Blockchain-Based Remittance System for Australia and Philippines appeared first on dippli.

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