Facebooks Libra, Twitter, Nation-Backed Digital Currencies, China and Other Macro Trends

Lets look at some macro trends circling the esoteric inner core of this ongoing technological revolution. First up theres Facebooks Libra, which currently is a swirling mass of confusion. Its clearly become a major part of the worlds biggest social media giants roadmap and theyre throwing a lot of resources at it. For crypto generally, its a huge affirmation of the technology and has been utterly out of the realms of expectation just a few years ago. As expected, however, with an entity as big as Facebook, Libra got the worlds major power structures hot under the collar, given that a global stablecoin, accessible to billions of people around the world, goes straight after governments grip on monetary policy, which is effectively like trying to wrestle away the ultimate superpower of state.

The major nation state in question, the US, responded by calling those responsible to a hearing where officials, that clearly never read the briefing on what Libra is trying to be, shouted totally irrelevant questions to the treasonous upstarts, betraying the true aims of these hearings, which is to do nothing more than grandstand and bang a drum along party lines. If that wasnt enough, they then fired off breathtakingly threatening letters to members of the Libra association with the clear intention of performing audits, which worked just as intended, with Visa, MasterCard, eBay and Stripe all quickly stepping away from their previous intention to join Facebooks Libra network. In 2020, we will see this dance begin to intensify, most likely not only with Facebook but many other powerful players in different regions, think Uber, Grab in South East Asia, possibly Softbank in Japan, the already existing payment networks of WeChat and Alibaba in China and well also see nation-states joining in the competition. Soon after this things will come to a head, perhaps in 2021 when Facebook and others will be forced to launch outside of the US, in smaller jurisdictions as pilot programs. This will hamper their ability to gain strong network effects and end up being the perfect talisman for why decentralisation, in the face of entrenched power structures, is the only way to proceed if the intent is to provide a new means of transacting value globally inclusive of the whole world.

What superpowers like the USA seemingly misunderstand is that although Facebook has lots of users, many more than Bitcoin, their power is already being whittled away by the very fact that permission-less, decentralised digital currencies, for the first time in history, provide a new option and choice for people to exit from centralised fiat currencies that have an average life expectancy of 27 years. It may take decades, but that paradigm shift is not going back in the bag. Jack Dorsey at Twitter has a much better grip on that power boiling away in the background and has just announced hes set up a research team to investigate how to decentralise the entirety of his platform, Twitter as the decentralised protocol. Validation once again?

Perhaps another global institution thats seen the light is the ECB, having set up a Digital Currency Taskforce where doubtless they will spend most of 2020 eyeing Libra from afar, writing tomes on how fiat currency can work alongside digital decentralised currencies and how theyre going to create their own special crypto recipe to try and stem the ever-growing tide of permissionless stablecoin usage. This is no doubt what Christine Lagarde means by saying they plan to get ahead of the curve but in reality, to really get ahead, theyd have to decentralise themselves and thats a tad hopeful perhaps.

The year 2020 will see yet more strange antics from the worlds most populated country. China is at the very heart of the Bitcoin ecosystem because the mining world, that secures the Bitcoin network with massive computing power, relies on cheap energy and a major percentage of the Bitcoin networks mining farms find endless amounts of close to free energy, by camping out around the many nuclear power plants that service Chinas massive ghost cities. But thats not all! Its going to get even stranger, as we watch Chinas government battle with two sides of the same coin. Theyre clearly enthralled by the prospect that a state run blockchain could bring a paradigm shift in its intent on surveilling its populace, but their desires to harness the technology might by necessity usher in a swathe of decentralised technologies that even the great firewall couldnt keep at bay. Perhaps this technology is the ultimate trojan horse? Tune in for the next episode in 2020 when they release their state run DCEP cryptocurrency, take the vast spending data theyll capture and add it into their citizen points scheme database and then triangulate all of this in real time with their pervasive facial recognition systems and hey presto, they go from 2020 to 1981 at the flick of a switch.

Now lets explore what the future looks like through the lens of each of the main areas of the blockchain ecosystem. As we at KR1 see it, the areas of most interest are Bitcoin as a digital store of value, macro trends including Facebooks Libra and other corporate or nation-state-backed currencies, the flourishing Ethereum ecosystem especially in Decentralised Finance (DeFi), specific competing projects to watch closely and the wonderful world of non-fungible tokens.

As the Bitcoin narrative still forms the backdrop to the ecosystem, both in terms of new participants entering into the space and price action, lets begin there. Were at a critical stage in Bitcoins price trajectory. We had a parabolic rise from 2016 through to the end of 2017 with the price peaking at just under $20,000, followed by a 54 week bear market which saw close to an 87% retracement in price down to a value of $3200. This was the 4th such retracement since the birth of Bitcoin in 2009.

Between March and July 2019, we saw the pendulum swing back, with Bitcoin reaching just under $13,000, signalling an end to the bear market. Since then however weve had six months of sliding prices back to a low of $6,300 and this could well continue down to the $5,000 area towards the middle of January 2020. However, we think that with the clear over-enthusiasm that signalled the end of the bear market, combined with the strong fundamentals behind the scenes such as hashing power, transaction volume and new Bitcoin wallets being created, Bitcoin will most likely bounce back strongly from a steep dive in price and return to the $7,500 mark and then move higher into the middle of 2020. Its important to understand that Bitcoins issuance model, with the halving coming up in May 2020, combined with a strong digital gold narrative and the dominant hard money philosophy of the asset, which maintains a very powerful set of strong hands will create many boom and bust cycles, you could say theyre somewhat baked into the protocol by design.

Away from nation-state superpowers and Bitcoin, diving a little deeper into the technology, the area causing the most commotion and interest is Decentralised Finance (DeFi) on the Ethereum blockchain. The DeFi movement essentially is a suite of flourishing financial applications that allow for seamless interaction and interoperability with each other. It seems there is a new project launching every other day that is building on the composability with previously launched projects. As an example of the flow available to people who hold digital assets, you could use a token swap exchange such as Uniswap to exchange the volatile Ethereum (ETH) asset to a stablecoin, that is pegged to 1 USD by market forces such as Makers DAI, send it to a smart contract lending platform like Compound, where you can lend your assets and stablecoins out for a yield and then you could cover the value held in the lending platform smart contract with an alternative insurance provider such as Nexus Mutual. In essence, this is not dissimilar to using a peer-to-peer lender to loan out money you have and earn interest in return, plus a decentralised stock market where one can exchange unlimited amounts of assets and a digital and decentralised alternative to a specific insurance contract all in one.

All of this can be achieved in very little time, were talking seconds or minutes here, without any paperwork permisionlessly and at very little cost. As a testament to the growing use of that network, the USD value of assets locked up in Ethereum-powered DeFi applications crossed an all-time high of $700 million USD recently, despite the depressed market sentiment especially regarding Ethereum. We do not expect this trend to halt any time soon, in fact we foresee major uplifts in use as the underlying systems gain trust, the applications boost their numbers, improve their offerings and become more accessible to wider audiences. We look forward to watching 2020 continue to be the year where money legos connect together to build a financial fortress.

Not mentioned so far, were seeing huge interest recently launched or soon-to-launch competing layer-1 blockchains, especially in the interoperability or application-specific blockchains ecosystems. In opposition to Bitcoins energy and computing-intensive Proof-of-Work, most of these platforms are Proof-of-Stake networks, where participants guarantee their truthful behaviour by putting up a financial deposit that is at risk instead of wasting computer resources and energy. Staking will be a major trend in 2020 and weve already seen Coinbase and Binance, the worlds largest exchanges move directly into the space. By staking assets, the process where tokens of value are used as collateral or deposit that is at risk, in return for securing the network and agreeing on transactions that happened, stakers are receiving a healthy yield. This system has become a core use case for digital assets in many projects but especially underpins two projects that we will see break new grounds over the next year, Cosmos and Polkadot. Both are providing interoperability for application-specific blockchains while increasing throughput by some order of magnitudes. As of writing, Cosmos is live with a strong community of developers and validators that form the backbone of the staking ecosystem. The key feature of Cosmos, which aims to allow for the seamless transition of tokens between different chains, is IBC (Inter-Blockchain Communication Protocol), which is due to come online in the next year and should showcase the true potential of the protocol. There are currently lots of developer teams that are building on the Cosmos technology stack (including Binance) but thus far those networks are still isolated. With IBC properly enabled well see all of these sovereign networks starting to communicate and interact with each other through the Cosmos Hub network.

Polkadot is an equally powerful system that, with a different digital architecture, aims to both allow cross chain data and token transmission while also radically increasing throughput. Polkadot lies at the core of a new vision for the internet, the Web 3.0, where data sovereignty, property privacy protections and permissionless applications become a new internet for the world. Currently a canary network Kusama is live, which aims to test many of the systems already put in place by the Parity development team, who is in charge of bringing the Polkadot network to the world. We expect to see a full roll out of Polkadot in the first half of next year and hope it will be a leap forward for the whole ecosystem.

Other technologies that deserve a notable mention for what they will achieve next year are mesh networks like Althea Mesh that bring faster and more private community-based internet to areas of the world that need it most. For example, in parts of Africa people are now getting high speed, low cost internet access when they didnt before, all enabled by Althea and the blockchain ecosystem.

There will also be clear excitement next year for tBTC, brought to us by the Keep Network, which enables a trustless bridge to move Bitcoin as an asset onto Ethereum or other networks like the previously mentioned Cosmos and Polkadot. Considering the strong DeFi trend currently, there will be those with major positions of Bitcoin that will jump at the chance to get their wealth working for a return in the rapidly expanding DeFi ecosystem.

Layer-2 scaling technologies will again be at the forefront of the space, including Matter Labs ZKsync implementation and other solutions like optimistic rollups. Counterfactual and Connexts efforts are continuing to gain traction with their state channel technology allowing developers to enable instant, low-cost Ethereum transactions in their wallets, browsers, and applications. With the complete scope of the release of Ethereum 2.0 still some time away, layer-2technologies performing settlements on the main Ethereum 1.0 blockchain will become far more prominent next year and beyond. We will also see far greater interest in privacy focused technologies such as the Nym project, who are looking to bring mixnet technology back from the computer science labs of the 1980s. Theres an opportunity for network layer privacy projects such as Nym to form a major layer in the forthcoming Web3 stack. Another project tackling this area is HOPR, who are building an incentivised data transmission system that rewards nodes for passing on messages anonymously as they Hop from node to node, before finding their true destination. When combined with an endless flow of cover traffic through the network, privacy can be fully achieved.

Lastly, a look to next year wouldnt be complete without mentioning the rising star of Ethereum adoption charts, non-fungible tokens (NFTs). Digital scarcity is no better represented than through one-off unique tokens that represent in-game items, collectibles and even art works. All areas are gaining adoption by the day with games, market places, galleries and more all appearing at an astonishing rate. Next year we will see this go into overdrive as some of the big names in the entertainment business begin to experiment with issuing their own NFTs.

Theres plenty to be excited about, far more than current prices would reflect. Were only just beginning to understand the vast breadth of use cases unlocked by programmable money, assets and scarcity in the digital realm. Each year brings new and exciting opportunities and 2020 will be no different.

Mid 2020: $7,500

End 2020: $20,000+

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Forget Brexit, Think Blockchain and Cryptocurrency - FXStreet

At the Forum, VeChain, together with DNV GL,The Belt and Road Initiative Research Institute of Tsinghua University, Industry Internet Research Institute (under the Ministry of Industry and Information Technology of the People's Republic of China), Tus Data Asset, and China Silk Road Group Limited, established the The Belt and Road Initiative Blockchain Alliance (hereinafter referred to as "BRIBA"), to spur the development of the BRI by leveraging the blockchain technology.(News source frompeople.cn,a Chinese state owned media)

The BRI is a global development strategy adopted by the Chinese government, involving 136 countries and more than 30 international organizationsacross Asia, Europe, the Middle East, and more. According to Chinese state council,by the end of August 2019, the Chinese government had signed 195 Belt and Road cooperation documents, covering business on a global scale.

The BRIBA members are all pioneers in their area. The Belt and Road Initiative Research Institute of Tsinghua University outstands as an elite think tank supported by the prestigious Tsinghua University (Ranked 1st in China and 16th in the world in QS University Rankings 2020, and is the alma mater for many senior government leaders and officials, including President Xi Jinping), and theChina Silk Road Group Limitedis a business group covering finance, satellite Geo-information, energy, etc., and has close contact with governments and service industry organizations at home and abroad. DNV GL is the leading provider of risk management and quality assurance services, and is the global leader in certifying management systems of companies across all types of industries. Tus Data Asset, a state-owned blockchain technology company, has the expertise in data sharing services for government services, health care, finance, and education.

The Alliance is established to assemble all resources from the members and later joined members, to power more BRI infrastructures, business, and projects by blockchain technology.

VeChain's footprint has spread across 7 countries including China, Italy, France, Singapore, the United States, Luxembourg, and Tokyo, gathering talents from various countries. International diversity and localization experience have both been VeChain's competitiveness, which will be valuable for the BRI.

During the past 4 years, VeChain is dedicated to promoting the development of blockchain technology from the technical consensus to the business consensus, and has been accumulating experiences in blockchain adoption in real world use cases all over the world. My Story,the digital assurance solution built on VeChainThor Blockchain, launched by DNV GL, has traced prominent Italian wines including Ricci Curbastro, Ruffino and Torrevento, which shows the trust and positiveness of blockchain deployment in Italy, who has signed agreement to join BRI this year.

Considering all aforementioned advantages, VeChain will play an important role in the BRIBAto provide blockchain technology infrastructure, abundant localization industry experience, and technical consulting services, to achieve broader implications and success, especially overseas. For multi-party partnerships between BRI members, blockchain technology will bring transparency and sufficiency to achieve win-win collaboration.

Currently, VeChain positions The Belt and Road Initiative as our guidance and direction for long-term global strategy, aiming at spurring initiatives into actions and benefiting all stakeholders with reliable blockchain technology.

About VeChainLaunched in 2015, VeChain aims to connect blockchain technology to the real world by providing a comprehensive governance structure, a robust economic model, and IoT integration. VeChain is the pioneer of real-world applications using public blockchain technology, with international operations in Singapore, Luxembourg, Tokyo, Shanghai, Paris, Hong Kong, and San Francisco. Together with our strategic partners DNV GL and PwC, we have established cooperative relations with many leading enterprises in different industries, including Walmart China, BMW, BYD Auto, H&M, LVMH, ENN, AWS, PICC, ASI Group, etc.

For more information about VeChain, please follow our twitter @vechainofficial or visit our official websitewww.vechain.com.

SOURCE VeChain

http://www.vechain.com

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VeChain is Co-Founder of The Belt and Road Initiative Blockchain Alliance (BRIBA) - PRNewswire

Jan 05, 2020 at 12:01 // News

Blockchain and distributed ledger technology can be a revolution for dog breeders in Italy. The technology can be applied to any animal identifiable by microchip or other identification system, helping to counteract phenomena like abandonment, clandestine trade, genetic diseases and mistreatment.

Pinta is an Australian shepherd, famous on YouTube as the protagonist of the channel @QualaZampa of the blogger and dog trainer Irene Sofia, a few weeks ago the first dog in the world was successfully recorded on Blockchain network. The idea comes from Irene Sofia and her husband Marco Crotta, one of the leading Italian experts in the Blockchain sector, who have decided to use and test the potential of this technology right on their dog.

Fauna.life is the first initiative of FattorePet, a digital marketing agency specializing in the Pet Care sector, which aims to establish an independent canine registry based on Blockchain, a simple, effective and economic technology that allows you to enter the network data unalterable over time, with a certain date and an owner identifiable by digital signature and permissionless making available the entire history of each item entered.

This feature is the best guarantee to guarantee that what is entered in the verified transactions corresponds exactly to the truthfulness of the data.

Every year, 200,000 dogs are enrolled in ENCI and 8,000 cats are registered with various associations that issue pedigrees. Herd books are proprietary, cannot be accessed freely and a lot of useful information is likely to be lost. With Fauna.Life, one can create a connection between the pedigree and the microchip.

So far, there are numerous advantages deriving from the application of the Blockchain to this world: unification of the canine registry at national and international level including facilitation of movements and adoptions between various Regions; obstacle to the trafficking of puppies from Eastern Europe and contrast to the phenomenon of pet trade; possibility of having the family tree of the animals; connection of the microchip to all the information of the pedigree; and possibility of studies on the transmissibility of inherited genetic diseases with a very large sample and accuracy.

A few months ago, we also saw the technology being used in babys food to improve their safety by over 90% and prevent bad players from counterfeiting these foods.

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Blockchain Technology Has Been Applied to the Dog World - Coin Idol

John McAfee has just backpedaled on one of the wildest wagers in the history of crypto. In his recent tweet, the cybersecurity tycoon makes it clear that his promise to eat his penis if the Bitcoin price doesn't go to $1 mln by Dec. 31, 2020, was simply a "ruse" that was meant to attract new users.

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Back in July 2017, less than six months before Bitcoin became the biggest topic worldwide, McAfee took to Twitter to make an unprecedented claim that he would eat his penis on national television if Bitcoin failed to reach $500,000. Five months later, he upped the ante with the now-famous $1 mln price target.

Throughout these years, McAfee continued to stand by his prediction. As reported by U.Today, he still insisted that BTC could end up in the seven-digit reality as of Dec. 13, 2019. At the time of writing, BTC is trading at$7,462, which means that its price would have to increase by13,286 percent in twelve monthsfor McAfee's body to remain safe.

His prediction became so popular that there is even the "Dickening" countdown till Dec. 31, 2020 (itis called afterthe reward "halvening" that will take place in May). However, now that McAfee claims that it was nothing but a ruse, this site might no longer be relevant.

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Moreover, the eccentric septuagenarianhas apparently had a change of heart about Bitcoin since he's now certain that the top cryptocurrency has "an ancient technology," and newer blockchains will effectively replace it. McAfee compared Bitcoin tothe FordModel T,which is generally considered to be the very first affordable car.

While McAfee himself did not mention any specific names in his tell-all tweet, the threadgot instantly swarmed with people who wanted to pitch their favorite cryptocurrencies from some top altcoins to obscure projects.

A bit later, he named privacy-focused coin Monero as the new clear winner.

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BitMEX Bets on Ethereum Price Falling in 2020: 'We Are About to Put On Our ETH Shorts' - U.Today

The headlines surrounding TRON (TRX) recently have been dominated by blockchain-based streaming platform DLive joining the BitTorrent (BTT) ecosystem. However, one major update occurred near the end of December that largely flew under the radar.

Blockchain Cuties Universe, a blockchain-based collectibles game, recently launched on the Samsung Blockchain Wallet, which added support for the TRON blockchain in October.

Blockchain Cuties Universe was the first full-featured collectibles game to join the TRON Arcade back in December 2018.

The adventure game allows players to collect and battle with puppies, lizards, bear cubs, cats and other real and fantasy creatures. Each creature is an NFT, which can be sold for ETH or TRX in the peer to peer marketplace, fueling the games internal economy.

TRON developerscan leverage the Samsung Blockchain Keystore SDK to build applications, allowing users to have direct access to the TRON blockchain from their Samsung Galaxy S10and any future devices with web 3 capabilities.

Disclaimer: This articles author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

Read more:

Blockchain Cuties Universe Among the First TRON (TRX) Dapps Added to the Samsung Blockchain Wallet - SludgeFeed

Updated: May 25, 2018:

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Blockchains #Decadechallenge: Husch Blackwell Is Your (Curious Citizens, Business Owners, And World Leaders) Source For Blockchain Technology...

Kleiner Perkins investor Monica Desai is focused on fintech and blockchain.

Monica Desai Weiss is an investor at Silicon Valley venture capital firm Kleiner Perkins, where she focuses on fintech and blockchain. Previously, she led operations and strategy at digital wallet startup Blockchain and was a bond trader at JPMorgan. Forbes spoke with her about the past year in fintech and her top predictions for 2020. The conversation has been edited for brevity and clarity.

Forbes: For fintech in 2019, what events or milestones stand out as the most important?

Desai Weiss: There were a few big themes. Financial services incumbents took notice of fintech startups, and some parts of the fintech industry matured. There were several mergers and acquisitions around payment processors [like Fiserv acquiring First Data]these companies are coming to terms with Stripe and Squares success in payments. There was also a great reckoning around trading fees. Schwab, TD Ameritrade and Etrade all dropped their trading fees to $0, matching Robinhood and Square. This all counters the notion some held that fintech has a ceiling.

Second, everyone is becoming a bank. Big tech made its presence known, with every tech company trying to be a bank and every bank trying to get into tech. Apple, Google and Facebook all entered financial services, or at least announced their entry. Fintech startups Acorns, Betterment and Dave launched checking accounts. Uber and Lyft are adding banking features. Theres huge saturation in banking services.

Third, blockchain made inroads within large enterprises. Fidelity launched a crypto custody service. For Facebooks new digital currency libra, many big companies came to the table, regardless of where they ended the year. JPMorgan created a digital coin [to speed up payments]. Bison Trails, a startup we recently invested in, is helping companies build blockchains. Think about what Amazon Web Services did for cloud computing years ago. Bison Trails is trying to do that for blockchain, so that any app developer or enterprise that wants to create access to a blockchain can do this easily without needing to hire a blockchain team.

Forbes: Regarding the adoption of blockchain technology over the past couple of years, how has that played out compared with your expectations?

Desai Weiss: You always think these things are going to happen faster than they do. I thought things were going to move more quickly. But Ive realized that they have to move slow and then fast. You need a certain level of regulatory clarity. There needs to be technological stability on the underlying blockchain. Were starting to see that come into place. On regulation, theres still a lot more to be done, but with projects like libra, sovereign digital coins [like Chinas] and other things, its going to push the conversation forward such that well get more clarity in the next year or two.

Forbes: How would you summarize what happened with blockchain technology in 2019, and what will 2020 be like?

Desai Weiss: 2019 has been a year of building and consolidation. Funding has been harder in the industry, so youve seen a bunch of companies like Coinbase starting to make acquisitions. Thats probably a good thingif theres still a lot of investment needed before we get to mass adoption, its probably better to be with a well-capitalized player. I think that trend will continue.

My theory is that in the background there has been a lot of building. People are starting to embrace the need for a better user experience for end users. People are starting to build apps that are easier to understand.

Forbes: What predictions do you have for fintech in 2020?

Desai Weiss: First, there has been this great unbundling around everyone offering a bunch of different product lines, and around narrow wedges like payday loans and payment financing. I think were reaching a point where it will become overwhelming for people. Consumers cant keep up with 10 different applications to manage their money. I think there will be re-bundling. It could be like a super app, akin to what you see with Grab or Alipay in Asia, [where the app handles payments and many other functions, like serving as a digital wallet and hailing a taxi]. It could be the return of personal finance management apps. Or it could happen through automation. Some apps can remove some of the headache of financial services, like Tally, which consolidates credit card debt, or Pillar, which focuses on student loans.

Second, in an election year, the student debt crisis will move front and center. Theres still a ton of confusion around the best path forward for people who have debt. What is the best way to repay? What if you have multiple loans outstanding? Are you eligible for refinancing?

We invested in Pillar based on the thesis that student loans are becoming an epidemic of this generation. Hopefully well see some evolution in government rules and regulations and in alternatives like income-sharing agreements (ISAs). With ISAs, you dont pay upfrontafter you graduate and get a job, you pay a set percentage of your income toward the loan. Student loan debt is becoming a bigger issue across voting constituencies, and it will become a bigger part of the conversation. Weve already seen more startups popping up since investing in Pillar.

Third, fintech is becoming saturated. Acquiring customers is getting more expensive, and mindshare is getting harder to come by. Well see brands that already have mindshare in other ways move into fintech. People you go to for other products and services will use fintech to make their product or service easier. Some people call this embedded finance. Youre seeing that with Uber and SmileDirectClub doing it for their teeth aligners. The natural way to do this is with features like flexible payments and insurance. Over time, I think it will go broader than that and will come from brands that you love. Brands like Glossier, Fortnite or Nike that have real loyalty with consumers will start to become bigger players because they have this natural entry point. A challenger bank or a new fintech must build that from scratch in an incredibly difficult world of customer acquisition.

If more brands start adding fintech as a feature, all these companies will need infrastructure. I expect more investing dollars will go toward these companies that will help them manage compliance, fraud and other building blocks.

Forbes: What other predictions do you have?

Desai Weiss: I think companies will continue to move away from FICO and traditional credit scoring for lending to consumers. More and more data sources come online every day, and FICO scoring has become slightly outdated. Today theres more real-time, rich data available on consumers that is probably more correlated with your likelihood to repay but that you couldn't access before. With that you can underwrite better and thus create new companies, but also increase who can access these products, because you can start to underwrite people earlier in their lifecycle of being spenders or of being in the country.

Lastly, one area were spending time on is tools for baby boomers. Ten thousand people will hit retirement age every day for the next decade. Its a very overlooked population, but they are tech savvy. They are young in many ways, and theyre going to need many more tools around retirement, estate planning and family planning. As more of the HENRY [high earning, not rich yet] Millennial population gets saturated, entrepreneurs will start to see this as a huge opportunity and move there.

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Five Fintech Predictions For 2020, According To Kleiner Perkins - Forbes

As of the end of 2019, Congress has introduced 21 bills addressing cryptocurrency and blockchain policy that could be considered in 2020 by the second year of the 116th Congress. Indeed, U.S. legislators have been busy examining the landscape of how this new technology has been and could be impacting businesses, consumers, and society at large. Although Congress introduced a total of 22 bills that involve cryptocurrencies or blockchain technology, there are three main public policy areas that will likely be the continued focus of the 116th Congress into 2020.

UNITED STATES - OCTOBER 31: The Capitol dome is reflected in the compass on the East Plaza of the ... [+] U.S. Capitol on Thursday, Oct. 31, 2019. (Photo By Bill Clark/CQ-Roll Call, Inc via Getty Images)

The first main public policy issue relates to how cryptocurrency might be used in a wide variety of very dangerous activities, such as evading U.S. sanctions, human trafficking and terrorist use. In addition to these concerns, many legislators are also looking for the U.S. to explore how the unique tracking capabilities of cryptocurrencies as well as blockchain technology may assist U.S. government agencies in the pursuit of bad actions in the activities mentioned.

The second and most often reported type of public policy issue is how companies can use cryptocurrency and blockchain in business models within the current regulatory framework. The size of the United States economy and complexity of its regulatory structure on both a federal and state level can be stifling for private sector innovations.

Finally, the policy issue of how distributed ledger technologies might be utilized by the U.S. government itself is addressed by the legislation that has been introduced so far, particularly as other countries have focused an intense amount of time, effort, and money on cryptocurrencies and blockchain technology.

The table below shows how the three main public policy categories were determined, with eight of the bills seeking address the use of cryptocurrencies by terrorists, money launderers, or human / sex traffickers, nine of the bills address regulatory clarity for blockchain tokens, and finally, five of the bills focus on the use of blockchain technology by the U.S. Government.

Breakdown of U.S. Congressional Legislation on Blockchain and Cryptocurrency Policy Issues

Breakdown Of Public Policy Areas By Congress On Crypto And Blockchain

Summary of Public Policy Issues Addressing Blockchain and Cryptocurrency in the 116th Congress

Use Of Cryptocurrencies by Terrorists, Money Launderers and Human / Sex Traffickers

As with the creation of the Internet, concerns were raised that this was something only for illicit use. As the Internet has evolved, there is certainly the benefit of communication around the globe. Since the technological net is cast over the worlds population, those who are criminals, whether in terrorist organizations or part of the leadership of countries such as North Korea, ways that these criminals may keep their activities in the darkness are always a major concern.

Certainly, a disruptive technology that creates an entire new class of money with value that can be transferred over the Internet and not through traditional banking institutions, raises the spectrum of what could go wrong. This area has seen a total of eight bills addressing these concerns. One bill, the Verdad Act, addresses the concern of cryptocurrencies and the evasion of sanctions by countries, with two bills addressing the use of virtual currencies in human trafficking and three bills looking at prevention of terrorists or money launderers using these digital currencies. Finally, two separate bills look on the other side of the blockchain token, which is that these cryptocurrencies are tracked by the same technology that is used to verify the transactions, that cannot be altered. While the technology specifically was created to be unalterable in terms of the ledger and the design of this was to ensure there could not be double-spending of digital currencies and to create trust in the system, the benefit of having this history of transactions in a pseudonymous way - where although there is a degree of anonymity, the transactions can be traced back to the users.

Regulatory Clarity for Cryptocurrency and Blockchain Companies

This issue overall is the most painful for the United States. While the country is the worlds economic leader, disruptive technologies such as cryptocurrency and blockchain do not seem to have mixed well with the current regulatory environment. As a result, the concept of innovation flight is a top concern for the country. Additionally, the concerns with respect to how to protect consumers in what is still a Wild West atmosphere for an industry are have been top of mind. The state-by-state money transmission licenses is addressed to help provide clarity across the U.S. at the federal level, and the lack of clarity around taxation was addressed, until the most recent U.S. Treasury guidance attempted to provide better clarity for paying taxes on cryptocurrencies. Finally, the introduction of Facebooks new Libra Association and the idea of a global payments system administered in Switzerland led to some high-profile hearings in Congress, as well as a couple of bills specifically addressing the concerns of a large company introducing a financial product to the masses.

Use of Blockchain Technology in Government

There are five bills that specifically look to increase and explore the use of Blockchain Technology. The Blockchain Promotion Act of 2019 focuses on how government agencies can explore the use of blockchain. More specifically, two bills focus on specific uses of blockchain - one with the Export-Import Banks use of the technology and another with applying blockchain to Finding Orphan-disease Remedies With Antifungal Research and Development. Finally, the Rescue Act for Black and Community Banks - my personal favorite - looks to explore how blockchain technology could be used to increase the investment of low-income individuals to invest in startup or crowdfunded companies. This resonates with the hope of many entrepreneurs in the blockchain industry who believe this technology can help spread the wealth to diverse communities. Finally, a bill that is the only one of the 22 bills that became law this year was the National Defense Authorization Act of 2020, that includes a requirement for the Undersecretary of Research and Engineering at the Department of Defense to provide a briefing to Congress on how the U.S. military might look at and analyze blockchain technology.

Authors Note: As well as a Forbes.com Contributor, I am the Founder, President, and CEO of the Value Technology Foundation, a 501(c)(3) non-profit in Washington D.C. focused on increasing the Research and Development of Value technologies such as blockchain, cryptocurrency, and distributed ledger technology in the United States and other open, free societies. The research, table, and graph included in this article is a product of the Value Technology Foundations work thanks to the generous support of its donors.

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Crypto Legislation 2020: Analysis Of 21 Cryptocurrency And Blockchain Bills In Congress - Forbes

As another year draws to a close in the world of Bitcoin BTC and blockchain, weve decided to look back at some of our favorite cryptocurrency tweets of 2019.

Some are funny, others are weird, but weve loved each and every single one.

So, sit back, relax, and enjoy the ride.

First up, Twitter CEO Jack Dorsey, sent a Bitcoin Lightning Network invoice in a tweet in February and people went nuts.

Dorsey has long been a supporter of Bitcoin and is often quite public about it.

Hes even shared his cryptocurrency plans with TNW.

What kind of roundup would this be if we didnt at least allude to Craig Wright, the manwhos built a cryptocurrency patent empire and keeps claiming to be the real Satoshi Nakamoto?

It seems, hes also intent on convincing everyone about how rich he is.

And if people dont believe him, well, he just blames journalists.

Doesnt this remind you of a certain orange-faced man living in a very big white house?

Luckily for us, Craig Wrightis omnipresent.

He was everywhere.

EVERYWHERE!

The world of cryptocurrency and blockchain technology can get pretty weird and this is exactly what Agrawal is alluding to here.

But, lets be honest, would you have it any other way?

The Winklevoss twins akaWinklevii who claim to own approximately 1-percent of all Bitcoin in circulation have worked hard this year.

Although they are clearly enthusiastic about the technology, it doesnt mean everyone is. And if you dont believe me, just check out this tweet:

They say a picture is worth a thousand words, and if these peoples faces are anything to go by, its not looking good for Bitcoin.

I hate the bearer of bad news, but I doubt youll be able to buy your morning coffee with Bitcoin anytime soon.

Bitcoin is often seen as a speculative tool with many buying the cryptocurrency enticed by the possibility of making some extra cash.

Some dream of becomingcryptocurrency millionaires, others and this speaks directly to our souls just want to enjoy the simple life.

Admittedly, weve all spent way too much time writing about Facebooks cryptocurrency Libra, but the truth is: you seemed to care.

Capitalism is so beautiful.

On another note, Twitter proved cryptocurrency enthusiasts have been blessed with a good sense of humor.

And last but not least, did you know Bitcoin can fix a broken toilet?

Let this by our parting gift to you all and heres to another year of crazy cryptocurrency and blockchain chatter on Twitter!

Published December 24, 2019 10:00 UTC

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13 fun Bitcoin and blockchain tweets that epitomize this wild industry - The Next Web

The Central Bank of China has recently issued 20 billion Chinese yuan ($2.8 billion) of specialbonds, which it has sold in order to fund small and micro-enterprise businesses, according to the China Development Network.

This recent issuance of $2.8 billion in bonds is nothing to look twice at and was largely expected, given the bank's inclusive small and micro-enterprise loan balance at 404 billion yuan so far this year representing an increase of 35.36% since the end of the previous year and catering to nearly 410,000 small and micro-enterprise owners.

However, these bonds werent issued the standard way, piquing the interest of market participants the world over. Instead, the Chinese central bank used blockchain to organize the affair, which could be seen as a surprise when one considers Chinas stance on the decentralizedtechnology.

Chinas self-developed blockchain issuance system was put on display for the first time and it will handle the administration and tracking of these two-year bonds with a coupon rate of 3.25%.

Though the use of blockchain and other notable features of the issuance contrasts with Chinas past stance, it may align well with its recently revealed strategy and may have other important implications as well. For all it implies, the act was not uncharacteristic ofChina if one considers the trends that have played out since thecountrys crypto blackout in 2017. China is coming into its own where blockchain is concerned, and its quick pivot toward ledger technology is hardly a bombshell.

For the past few years, blockchain and cryptocurrency innovations have been stifled in China to a degree that matches the countrys zero-tolerance playbook. In 2017, the countrybanned Bitcoin (BTC) and then shutteredexchanges, which had precedent and was meant to quell capital flight. But then it shut down all potentialinitial coin offerings leaving very little for blockchain enthusiasts to look forward to. It seemed that cryptocurrency was dead in the country until just earlier this year.

Related: Crypto Will Eventually Replace Fiat, but How Soon and Where?

2019 revealedChinas past opposition to cryptocurrency as timely hesitance and a potentially savvy multi-year deliberation in front of the official rollout of its state-controlled blockchain and cryptocurrency system. At least thats what it now looks like.

Chinas ban on blockchain systems now seems that it had little to do with ideology and was more about control. This is a safe guess considering that in terms of both blockchain and cryptocurrency, this year saw China launch both the blockchain bond issuance system and its seminal Central Bank-issued cryptocurrency (CBDC).

The pronouncement of CBDC proves this hypothesis correct and shows that China has never truly shunneddecentralized technology, just outwardly. The bond issuance on a blockchain is the second consecutive clue in this favor, with the system making use only of blockchains superior data-tracking capabilities and not anything that can be considered speculative just like with a national digital currency. Blockchain does for bonds what a national stablecoin does for fiat: cost-efficiency while leaving the riskier aspects of crypto at the door.

Viewed through this lens, the blockchain bond system isnt surprising so much as it is expected. Lin Le, the CEO of Energy Blockchain Labs, told Cointelegraph:

Both bond issuance and duration management are needed to control information and capital with proper supervision. Recording issuance on blockchain could help information transparency and undue exposure. With the help of digital currency, cash flows shall be under surveillance by smart contracts which could tie into this system. Hence, that the bond system will work with digital currency is under the markets expectation.

Other countries progress in blockchain bonds lends further credence to expectations of Chinas embrace of similar advancements. Japan was the first to issue bonds on a blockchain and denominated in Bitcoin, with Fiscos 2017 issuance. Even the World Bank has issued blockchain bonds via its Bond-i system in cooperation with RBC Capital Markets, TD Securities and the Commonwealth Bank of Australia. Other internal trends also indicate that the bond system newly employed by China will change shape.

One factor is the amount of the issuance, which is sure to grow from a meager $2.8 billion, and the other is eventual support for the CBDC. On paper, it seems as though the melding of the national digital currency into the blockchain bond issuance system would be ideal.

The Central Bank of China could use the ledger to track interest payments in cryptocurrency and then pay interest directly in its yuan stable coin. On the other hand, institutions and retail investors could use the CBDC to buy the bonds without going through a broker.

Right now, using blockchain to issue bonds can streamline the procedures of approval and lower the cost of issuance and thus improve the efficiency in issuance, said Arthurine Xiang, the CMO of blockchain infrastructure firm Quarkchain, told Cointelegraph, adding that:

In the future, one would first treat blockchain as an accounting tool such that the issuance will become more efficient with lots of additional functionality. Of course, the benefits of blockchain do not stop there. With the use of smart contracts, users can pay and receive interests automatically. All in all, using blockchain allows bonds to be traded more easily and will improve the level of automation during the whole issuance process.

This may be where Chinas nascent blockchain ecosystem is headed, and the relatively small issuance in 2019 is merely an indication that the technology is in its experimental early stages. According to Xiang, it is just a trial of small scale, which is very normal. Xiang believes that such a test will likely be thoroughly evaluated, continuing:

If the administration thinks the risks are tolerable and the public perception leans favorable towards the new process, then it would continue to issue this kind of bond and increase the scale of issuance.

As issuances get larger and eventually tie into the state cryptocurrency system, Chinas mobilization of blockchain takes on a distinctly centralized theme. This is a common thread in multiple organizations both public and private, as the benefits of blockchain are extracted from decentralized ecosystems and appropriated in the hands ofgovernment or large institutions.

The fact that its happening in China is a part of the course, but its still exciting to see given the timeline and whats occurred on it in recent memory. However, the outcome may not be what most are expecting a blockchain-powered system to produce: a centralized and controlled system.

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China Issuing Bonds on Blockchain Is a Sign of Whats to Come - Cointelegraph

Out of $8.5 Mn blockchain investments, India has been at less than 0.2%

Zubi-IBCOL plans to help students apply cryptography and blockchain solutions to real-world problems across India

Nigeria's MIPAD to use blockchain technology, artificial intelligence and data science to identify and geo-tag planted trees

In recent times, blockchain technology has been gaining a lot of momentum across various industry verticals. Most certainly, the trend is shifting from the pilot stage to actual use cases. Nearly, 50% of the blockchain projects are driven by startups. For the ecosystem to thrive in the long run, it requires the support of all the stakeholders involved, including government, investors, innovators and entrepreneurs.

According to NASSCOM Avasant India Blockchain Report 2019, the investments through venture capital firms (VCs) or initial coin offerings (ICOs) in the blockchain ecosystem in India are at less than 0.2% out of $8.5 Mn globally. The drop in the investment collides with the uncertain policy and regulatory norms in the country.

This cautious regulatory environment in India is hindering the investment opportunities for both domestic and global investors into Indian startups. Surprisingly, several Indian-based investors are raising funds through VCs and ICOs in other jurisdictions such as Malta, Singapore, UK, Switzerland and others due to open regulatory environments.

Moreover, the uncertainties or risk around blockchain in India has made it difficult for startups to enter the radar of global investors that are specifically looking to invest in blockchain startups developing innovative products or solutions.

Graph Of The Week: Size of the blockchain technology market (2018-2023)

Global blockchain technology revenue is expected to see massive growth in the coming years. Currently, at the size of $2.2 Bn, the market is expected to touch $23.3 Bn by 2023.

(Source: Statista 2019)

Here are the biggest block-related headlines from across the world.

A blockchain community platform Zubi partners with International Blockchain Olympiad (IBCOL) to enable its users to apply cryptography and blockchain solutions to real-world problems across India. Through this collaboration, Zubis community of students and blockchain enthusiasts will leverage IBCOls resources to achieve a decentralised future.

With this, Zubi-IBCOL has started a National Chapter in India (IN-BCOL). The IN-BCOL will be responsible for selecting top-projects for the final round of the IBCOL, which will be held in Hong Kong. Both the parties believe in educating and encouraging people to build a sustainable blockchain talent ecosystem. Most importantly, the duo aims to promote awareness on blockchain technology and its applications and enhance employability by equipping participants with necessary skills.

At Indias largest artificial intelligence (AI), machine learning (ML) and blockchain hackathon held in Pune from December 18 to December 22 organised by Icertis, BlockchainMegaminds won an all-paid trip to Seattle along with INR 5 lakh grand prize.

Interestingly, the winning team members all hailed from agriculture backgrounds. The team utilised ML models to build an app that can analyse crop distress and weather patterns. Additionally, they harnessed blockchain-enabled smart contracts for instant and automated claim settlements to those adversely affected by crop failures and natural disasters.

Team Boopalan were the runners-up with INR 3 lakh cash prize, followed by Team Heuristic at third place, who won INR 2 lakh.

Nigerias Most Influential People of Africa Descent (MIPAD), through its social impact initiative My Roots in Africa Project, will be planting more than 200 Mn trees by 2024 before the end of the UN International Decade for People of Africa Descent. The company has partnered with Decagon Institute to deploy artificial intelligence and data science to identify and geo-tag trees planted using blockchain technology.

Through this initiative, people can place a request to have a tree named, planted or gifted in honour of themselves or anyone they love. This platform is said to bring transparency and enable users who have planted the trees to know the exact location and be able to see it using satellite imagery using Google Maps. This, in a way, helps prevent allocation of the same tree to more than one person and bring down deforestation.

The Blockchain World Forum (BWF) will be held in Dubai from February 27-28, 2020. The event gives all the industry stakeholders to explore the opportunities and challenges associated with blockchain ecosystem. The platform will enable leading technologists, entrepreneurs, regulators, investors and financial institutions in the emerging blockchain industry.

In addition to this, BWF will be giving out the Blockchain Innovation Awards for the highest achievements from the global blockchain industries and entrepreneurs.

Hydra, a multiple blockchain protocols for improving transaction throughput in digital currency, recently announced the launch of Hedra Boost, where it allows startups to plan, build or launch a blockchain-based application using Hydra.

The platform offers technical guidance and ecosystem tools, marketing and business development support and subsidising transaction fees. The platform lets developers design, and test multiple iterations on Hydra Boost. Once the startup is ready to launch its blockchain application, Hydra claims to be funding the project with $1000 worth of Hedera to cover initial transaction costs.

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Blockchain This Week: Farmers Kids Win Blockchain Hackathon, Blockchain Fights Deforestation & More - Inc42 Media

Forbes

Some of the largest companies in the world were on the first-ever Forbes Blockchain 50 list, inaugurated in early 2019 to recognize the most mature blockchain projects. As we look ahead into 2020, were now taking nominations for the next Blockchain 50 list, and expect it will include not only some of the most mature cryptocurrency platforms and blockchain projects in industries as diverse as finance, health care, and mining, but some of the first live enterprise blockchains conducting real-world transactions. Requests to be on next the list are already flowing in, so we expect the competition to be heated.

Similar to last year, we are looking for companies from all over the world that have at least $1 billion in revenues or are valued at $1 billion or more. Companies must be using distributed ledger technology to improve business processes, eliminate inefficiencies, expand market share, address the challenges of global trade and tariffs, improve product tracking and safety, reduce fraud and protect data.

To qualify, companies must have committed serious resources to re-imagining their industries with fewer middlemen, more transparency, and increased accountability to their customers. Our team will then review the submissions and interview company leaders among the finalists. While many of next years list members will certainly come from companies with household names, others will likely be among the most successful blockchain and cryptocurrency startups.

Forbes

Do you work at one of these companies? Are they among your clients? Do you invest in them? We want to hear from you. Please browse through last years list for some ideas of what were looking for. If you think you might know a project worth highlighting, please share this link with them, Tweet it using the hashtag #Blockchain50, or take a moment to complete this short survey, due Wednesday, January 8, on their behalf. Thanks for helping us find the best projects out there!

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Blockchain 50 Race Is On: Enter Now To Test Your Mettle - Forbes

Diversity in Blockchain

Since the introduction of bitcoin in 2009, blockchain technology has been heralded as the great democratizer because of its ability to enable parties to transfer value directly without the need for middlemen. In the last decade, blockchain technology has evolved and entered the mainstream.But has it lived up to its promise to become the great equalizer? For example, have women and minorities coalesced around the technology in great numbers?

Not so much, says Susan Joseph, Executive Director of Diversity in Blockchain Inc. (DiB), a non-profit, committed to creating equal, open and inclusive opportunities in the blockchain industry. And thats a challenge, she confides.

Joseph, an attorney and blockchain consultant with her own firm, SusanJosephLLC, co-founded DiB in 2017 along with blockchain powerhouses, Anna Ashurov, Senior Director, Anheuser-Busch InBev; Shawnna Hoffman, IBM Global Cognitive Legal Leader; Michelle Ann Gitlitz, Global Head of Blockchain &Digital Assets for Crowell & Moring LLP; and Joshua Ashley Klayman, U.S. Head of FinTech and Head of Blockchain and Digital Assets, Senior Counsel, at Linklaters LLP; to make sure that blockchain is inclusive. Paramount in that mission is to ensure that others who traditionally have been underrepresented have a voice in the blockchain technology sector as it develops.

According to Ashurov, because of its decentralized nature, blockchain technology can empower regular people (including underrepresented groups) to grow and accumulate wealth. As a result, she explains, we have a responsibility to encourage diversity, break barriers and force a conversation.

Klayman adds, We are among the first wave of blockchain and digital asset professionals, and there will be more. This space is nascent.We have the power to create a thriving and truly inclusive digital economy."

DiB released today its blockbuster report, The State of Diversity and Inclusion in Blockchain which examines the inclusiveness of the sector and provides a baseline for future assessments. The report considers diversity and inclusion across all strata of society, including government, academia, conferences, and enterprise and, not surprisingly, finds less than stellar results. The reports founding sponsors are elite global law firms, Linklaters LLP and Crowell & Moring LLP. This inaugural report is significant because it highlights certain improvements the industry can make and identifies steps that can be taken to ensure increased representation of women and diverse talent in the industry, says Gitlitz.

The report concludes that, although blockchain technology has the potential to bring in to the fold whole groups of individuals who have traditionally been under-represented, that is, by and large, not happening. Statistics highlighted in the report show that inclusion in the blockchain industry reflects other technology and financial services sectors, generally.

The report highlights the lack of women-centric blockchain and crypto venture-backed startups. To wit, of the 378 venture-backed crypto and blockchain companies identified between 2012 and 2018 globally, only one had an all-female founding team, and only 31 (8.2%) had a combination of male and female founders.

The state of inclusiveness in academic settings is just a little better. A recent CoinDesk study that surveyed top university programs in blockchain in the U.S shows that at the top ten universities listed, twenty percent of the professors/faculty are women.

Joseph notes the existence of a congressional blockchain caucus that is bipartisan and largely male. But, she suggests we are still early enough in the development in the technology to change the trajectory to allow for the inclusion of women, minorities and others who are typically under-represented.

Klayman, who also heads up the Legal Working Group for the Wall Street Blockchain Alliance, offers that after a long crypto-winter, high-profile companies and ambitious projects have begun to breathe new life into the emerging blockchain and digital assets space, and the broader digital economy. This is a critical time for diversity to be front of mind - because we are shaping the future of technology right now she says.

Hoffman adds that, with a technology as globally significant as blockchain, the importance and benefits of a diverse workforce are magnified. Blockchain is on pace to impact every human."

DiB has found support in Representative Maxine Waters Chair of the House Financial Services Committee. She too recognizes the importance of having an inclusive technology sector, as well as the risks of leaving out swaths of society in the development of blockchain technology, artificial intelligence and fintech. To that end, she asked DIB to prepare a report on Project Libras potential. DIB delivered such a report to the Committee that discusses both the Projects potential and its diversity and inclusion implications. The report was entered into and made part of the U.S. Congressional Record during the Congressional hearing at which David Marcus testified.

Change wont happen unless others recognize the importance of inclusion, says Joseph. This is the first of what will be an annual report. If you can measure something, you have the ability change it.

DiB seeks to ensure that the blockchain sector is inclusive and diverse. This is a worthy goal with a lot at stake. But it can only happen with leadership and a focussed strategy. DiB brings thoughtful leadership to this important issue. To make change, we need a conversation. DiBs report gets the conversation started.

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Bombshell Report Finds Inclusion Lacking in the Blockchain Industry - Forbes

3D illustration of a timeline on kraft paper with focus on 2020 and a blue thumbtack. Year two ... [+] thousand and twenty

The popularity of cryptocurrency has been on the rise for years, and 2019 was a year of renewed crypto regulation particularly in the tax space as the IRS produced more detailed guidance after 5 years of the issuance of original Notice 2014-21. Prior to reflecting on my big predictions for the new year, it is important to look back on 2019 and recognize some of the most monumental moments in the space.

In July 2019, the IRS sent out warning letters to 10,000+ US taxpayers with cryptocurrency holdings. These letters came out in 3 variations: Letter 6173, 6174 & 6174-A. Letter 6173 warned of further examination if the recipient failed to respond, even though many had actually correctly filed their taxes. Letter 6174 & 6174-A alerted taxpayers how cryptocurrency related transactions should be reported.

In addition to these letters, throughout 2019, the IRS has been sending out CP2000 letters.These letters were automatically generated when there was a mismatch between whats reported on Form 1099-K by the crypto exchange and whats reported on the tax return by the taxpayer.

On October 9th 2019, the IRS released comprehensive new guidance on cryptocurrency taxation including more clarity on hard forks, cost basis calculations, transfers, gifts & donations.This was the first guidance released by the IRS in over 5 years, so this was probably the most important moment in 2019.

The IRS also announced that it plans to ask every American taxpayer on Form 1040 Schedule 1 At any time during 2019, did you receive, sell, send, exchange, or otherwise acquire any financial interest in any virtual currency? This so called crypto question is designed to improve voluntary compliance and gather more data about US cryptocurrency holders. Notably, this is such a broad question that will help the IRS to collect information on taxpayers with both taxable and non-taxable cryptocurrency transactions.

As we end the 2019, it should be highlighted that the main focus of the IRS is not to achieve perfect compliance; the focus is to increase voluntary compliance and move taxpayers from reporting nothing to reporting something. When faced with complicated matters not directly addressed by the guidance, the service will look into the facts and circumstances of each case.

Beyond just increased interest and understanding from the IRS on crypto taxes, we saw three separate bills go before before the US Congress in 2019 that dealt with crypto - The Token Taxonomy Act (H.R. 2144), The Blockchain Regulatory Certainty Act (H.R. 528), and The Safe Harbor for Taxpayers with Forked Assets (H.R. 3650). It is clear that the US officials and governments across the globe are trying to understand the crypto compliance by actively talking to various industry groups, professional organizations, thought leaders, software companies and tax practitioners.

Inclusion of the crypto question on Schedule 1 will tremendously increase crypto awareness among US taxpayers. This will be a question every taxpayer has to answer on the tax organizer sent out by the accountant. Also, online tax preparation software will require you to answer the question during tax preparation.

Crypto going mainstream will open taxpayers to new tax planning opportunities. Some of these include cryptocurrency tax loss harvesting, Self-directed IRA & trading without considering wash sales rules. Financial advisors and tax practitioners will take a deeper dive into these strategies to save money for their clients.

Various software tools that help taxpayers calculate gains/losses related to cryptocurrency transactions will be flourishing in the coming years. Crypto exchanges do not issue a report similar to the Form 1099-B listing proceeds, cost basis & gain/loss related to crypto activity. Therefore, accurately calculating gains/losses is the taxpayers responsibility. Proper valuation, basis tracking, record keeping & specific Identification of units/lots can only be achieved by using a reputed cryptocurrency tax calculator. Without a software tool, it will be virtually impossible to be tax compliant.

As regulators look more into this space, crypto exchanges may be mandated to provide better data so taxpayers can easily calculate cryptocurrency gains and losses. Some exchanges may take a proactive approach and start producing reports similar to 1099-Bs to make tax compliance easier. However, if you are trading in multiple exchanges and/or have transfers between your own wallets, exchanges may not have access to all information necessary to provide an accurate gain/loss report. In such cases, as mentioned above, cryptocurrency tax software tools will function as third party data aggregators providing vital support for US taxpayers.

It has been an amazing ride to watch the crypto space grow over the past decade, and it will be interesting to reflect on these predictions in one year from now.

Disclaimer: this post is informational only and is not meant as tax advice. For tax advice please speak with a tax professional.

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The Big Moments Of The Crypto Tax Space In 2019 And A Look Into 2020 - Forbes

Gambling has become the second industry after the financial one to recognize the significance of blockchain technology and begin implementing it on a substantial scale. The main reason behind this increasing fascination is that blockchain shows the capability to resolve the issues that have been plaguing the betting industry for ages: the lack of transparency, the sloth-like pace of transaction, accompanied by the unjustifiably high fees, and the lack of privacy. Experience has shown that the application of the blockchain technology in the processes of software development and gambling itself may help cut the Gordian knot in one blow. The most essential characteristics of blockchain, namely immutability of records, decentralization, speed and cost-efficiency of transactions, and provision for an advanced, if not total, level of privacy serve as the most popular use cases.

Certainly, the mostimportant one lies in blockchains ability to shatter the widelyaccepted notion that online casinos and betting platforms areinherently unfair. Many are convinced that casinos are deliberatelymanipulating the odds and random number generators to rip the playersoff. Regardless of whether these accusations are justified or not,blockchain delivers an ultimate solution that eliminates the opacityof the gambling process, which is often regarded as the fair playcontrol (FPC). It is usually carried out through the use of SHA-256algorithm that generates the verification code of a hand or a bet,which a player can then compare to the ones in the betting historystored on a blockchain. This way, it is possible for a user to seethe exact RTP and compare it to the one declared on the gamblingplatform.

The second mostimportant use case is the incorporation of cryptocurrencies as themeans of payment, which resolves the issues of high transaction fees,the swiftness of such transaction, and allows players to bypass thebanks and, in some cases, avoid the attention of revenue serviceswhen using the blockchain & crypto-oriented gambling platforms.

There are manyblockchain projects tailored specifically for the gambling industrywith Tron and EOS being the most prominent of them. They havedeveloped ecosystems that facilitate the creation ofblockchain-enabled gambling and betting products, which aredistributed among the casinos and sportsbooks that center theiroperations around the use of this technology and/or cryptocurrency.

Speaking of thegambling platforms, the most notable at the moment are BitCasino.io,VegasCasino.io, Fortune Jack, Bitsratz, Cloudbet, etc. All of themare provably fair, accept crypto, and provide for an easydeposit/withdrawal. However, each of these websites have drawbacks,for instance, Cloudbet accepts only Bitcoin and Bitcoin Cash,Bitstarz doesnt have a sportsbook, and Fortune Jack has toughwagering requirements.

1xBit is in the cohort of the all-for-crypto online gambling platforms thataspires to become one of the most recognizable in the industry. Ithas certain advantages over the mentioned casinos, such as aone-click registration with no email required, which grants totalanonymity; the availability of a sportsbook alongside afully-featured online casino; adequate wagering requirements, and thefact that it accepts more than 20 cryptocurrencies. But 1xBit alsomakes sure to constantly broaden the range of its services andfeatures to stay abreast with the progress in the development of theblockchain technology and cryptocurrencies that are destined tocontinue walking hand-in-hand with the prominent representatives ofthe gambling industry.

View original post here:

Blockchain as a Problem Solver for the Industry of Gambling - Captain Altcoin

2019 was the year Bitcoin started to get back on track. Thousands of investors, developers, builders and fanssome of them returnees to the scenefound a reserve of new energy and enthusiasm. But if 2019 was the rebuilding year, 2020 is a year heavy with anticipation. People are expecting things to happen in 2020. What are some of the events we should be looking out for?

I should note, this isnt meant to be a prediction and its certainly not a guarantee all these events will happen. Some are certain, others are maybes. They may all interact with each other in esoteric and mysterious ways. Recall the famous Donald Rumsfeld quote about known-knowns, known-unknowns, unknown-unknowns, if you will.

Lets divide the 2020 issues to watch into two sections: Bitcoin technical issues (which are more certain to happen, but may have interesting effects) and issues surrounding Craig Wright (which are far less predictable to us, but could also have a large impact).

Here are the two main technical issues to watch in 2020:

Genesis: In the beginning

In December 2019, the Bitcoin SV Node team began rolling out the Genesis upgrade to its Bitcoin SV Node software. The hard fork on February 4th, 2020 represents the last major step towards restoring the Bitcoin protocol as close as possible to the way Satoshi Nakamoto envisaged it in 2008.

Genesis will include some key features that will determine BSVs future in 2020 and far beyond. It will allow Bitcoin to continue on its path to massively scale and it will introduce functionality for smart contracts, tokenization, and a raft of Metanet applications.

It removes any limit on transaction block sizes, giving miners more power to decide what kinds of data theyll process (and make more money doing it). Improvements to the Bitcoin scripting language will allow more data in each transactions OP_RETURN functions. With Genesis, Bitcoin will also support more non-standard transactions, have parallel transaction verification (to stop huge blocks clogging up the network) and safer zero-confirmation transactions. The last two features also act as protection against a number of attack vectors, such as deliberately sending massive amounts of data to the network to slow it down.

Heres a video of nChains Steve Shadders explaining Genesis at CoinGeek Seoul in October:

Making Bitcoin more attractive to miners and enterprise users alike will be important in 2020, especially given another decisive external event next year. That event is:

The 2020 Bitcoin halvening

Per the rules set out in the Bitcoin whitepaper, the block confirmation subsidy (or reward) halves every 210,000 blocks. Thats generally every four years, and the next is estimated to happen on 14th May 2020. Originally 50 BTC per block, it dropped to 25 in 2012 and to 12.5 BTC in 2016. After May 2020, it will be just 6.25.

Halvenings have happened only twice in the past, in 2012 and 2016. Both happened before the initial 2017 hard fork split over block sizes, so there wasnt a rivalry creating extra anticipation. While both saw Bitcoin increase dramatically in price in the next year or so, no-one can say for sure whether the halvening caused this or whether it would necessarily happen again.

Reward halving will also occur on the BCH and BSV chains, since all three Bitcoin variants use the same original code and hashing algorithm. This is important because non-ideological miners can switch between chains easily, depending on which coin is most profitable.

Due to variations in block confirmation times since 2017, BCH will halve first and then BSV, before finally BTC. Please keep in mind this timing is subject to change. This is important becausefor a few weeks at leastit is likely to be more profitable to mine BTC. This could lead to a drop in hash rate and possibly unit price for BCH and BSV, which may or may not be temporary.

Those are the main technical events to watch in 2020. Which brings us to the issues surrounding Craig Wrightsome within his control, some less so. And heres where we step into truly uncharted territory, meaning things could get really interesting.

The Tulip Trust/s: Can, and would Craig Wright tank BTC?

The existence of a mysterious trust containing the keys to over a million early Bitcoins called the Tulip Trust had been whispered about for years. However more specific details emerged in sworn statements from Dr. Craig Wright as part of his defense against the Ira Kleiman case.

There are actually two Tulip Trusts (I and II) which involve a complex web of international companies and individualssome of which have fallen out of touch. The trusts contain bitcoins Wright had mined or acquired between 2009 and 2011. The trusts apparently stipulate that private keys to the 1.1 million BTC (and thus its forked assets also) will become accessible to Wright at the start of January 2020.

This is important because, well, a million BTC is a significant amount enough to crash the BTC price if whoever has them choses to sell them. And Craig Wright has stated publicly that he will do something like that, with donations to charity (its unclear whether he would donate them before or after selling them). However given the structure of the trusts and people involved, its uncertain whether the keys will actually be delivered, or by whom, or how events will pan out. We will have a clearer idea in the new year.

Other questions remain. Do the Tulip Trusts actually exist, or even if they do, will they cough up the keys to that million-plus Bitcoin treasure chest? Some Craig-watchers are highly confident, and skeptics are (as always) skeptical. Will we even get to know for sure, or will we have to deduce it from the after-effects? Could Ira Kleiman get a share? Will the Tulip Trusts so-called bonded courier show up on a lonely road in the rain with the information, Back to the Future style? The story definitely has a surreal, movie-like mystique.

Better still, the above events could pan out whether or not you believe Craig Wright is Satoshi Nakamoto, or even regardless of whether he actually is or not. Which brings us to the next issue:

Can Craig Wright prove hes Satoshi Nakamoto in court?

Despite misconceptions in less-knowledgable Bitcoin commentary and media circles, the Ira Kleiman lawsuit is not (directly) about whether or not Craig Wright is Satoshi Nakamoto. However, Dr. Wright has claimed in the past that he wants to prove hes Satoshi before a judge.

Around April 2019 Dr. Wright threatened to sue popular social media commentators who maintained public positions that he is not Satoshi, or who called him a fraud, for libel. He then followed through on those threats with actual suits, most notably against podcaster Peter McCormack and social media identity HODLonaut

Exact details of the cases are hard to obtain outside of each partys inner circle, and exaggerated victory claims propagate around social media over every procedural stage. The cases may not even see definitive conclusions in 2020, but rest assured they will get attention, and that attention will matter.

Begun, the patent wars have

Similarly, the issue of Craig Wright and nChains pending and granted patents on blockchain technologies, including smart contracts themselves, could begin to have an impact in 2020. However this is another issue that likely wont be settled 100% in the coming year and probably wont produce a big-bang result.

The big questions here are: will more patents be granted, and will competing companies like Bitcoin Core backers Blockstream, also be granted blockchain patents? Will blockchain developers quietly pay a license fee, or take a more adversarial stance? Will patents encourage more blockchain developers to build on BSV, and thus boost the ecosystems overall value?

Hold on tight

All that and we didnt even touch Bitcoin price speculation. All we can say for sure is: whether we like it or not, price does matterand its a major driver of both positive and negative press.

All the above issues could have dramatic impacts on Bitcoin, its rivals (whether their names include Bitcoin or not) and both public and community attitudes. Whatever happens next, one thing is certain: its bound to be a landmark year in Bitcoin history. We all will be much wiser by the end of it than we are now, some way or other. So strap yourselves in we live in interesting times.

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Why 2020 will be Bitcoins Most Important Year - CoinGeek

Blockchain has multiple applications in the payments industry including use in cross-border payments, foreign exchange (FX) settlement, trade settlements, card payments, and more.

For most people, blockchain and cryptocurrency are almost synonymous with each other. Cryptocurrencies like Bitcoin and Ethereum are often seen as competitors to traditional payments and official currencies. But the truth is that cryptocurrencies are applications that have been built on the principles of blockchain technology. If any other application used the same principles of peer-to-peer communication, distributed databases, transparency, permanence, and security, it could very well qualify to be called a blockchain application and enjoy the same benefits. These principles can be used in the payments industry offering many advantages.

See also: Blockchain for Science: Revolutionary Opportunities and Potential Problems

Blockchain has multiple applications in the payments industry including use in cross-border payments, foreign exchange (FX) settlement, trade settlements, card payments, and more. We will explore some of these here.

International Reconciliation: SWIFT with 34 globalbanks successfully completed a proof of concept(PoC)to evaluate if Distributed Ledger Technology/Blockchain could be used forNostro reconciliation. Nostro/Vostro accounts are used when a bank does notprovide services directly in some countries but does it through a correspondentbank. The conclusion of this PoC was that Blockchain could effectively supportautomated real-time liquidity monitoring and reconciliation if adopted globallyby all the participant banks.

Card Payments: Card payments areconvenient, cashlesspayment optionfor shoppers, but there is a high processing fee involved for merchants. Thisis because there are multiple intermediaries involved that can be categorizedas acquirers (merchants bank), payment gateways, interchange (Visa/Master), andissuer (cardholders bank). Since there is no central authority involved withBlockchain, there would be no need for so many authoritative entities. Thiswould help the merchants who would have to pay less for service charges,transaction charges and, in turn, can offer higher discounts to customers.

Cross-Border Payments: Cross-border payments have to passthrough several banks while going from one country to the other. This increasesthe fees involved in making them. Mastercard has come up with ablockchain-based solution that combines with its existing settlement network toconnect the sending and receiving bank directly without the intermediaries.They will, however, accomplish this without using any cryptocurrency but willallow funds to be transferred as fiat currencies used currently. Similarly, FinTech provider R3 is working with 22banks to build a real-time international payments solution that usesDistributed Ledgers to enable fast, efficient, and cost-effective cross-borderpayments.

Trade Finance: Financing for tradebetween a buyer and seller, whether domestic or intermediary, is done throughmultiple intermediary banks that utilize different financial products that makethe trade possible. Smart contracts for trade finance is a capabilityprovided by blockchain technology. These are self-executing contracts, wherethe terms of trade are directly written as code on the blockchain. Theseautomatically execute payments when specific conditions are met. An example ofa condition could be receipt of a shipment of goods.

While cryptocurrencies remain themost popular and widely discussed application of blockchain, there is nodenying that it has a wide range of applications across various industriesglobally. Almost all the big names in the finance and technology industry likeMastercard, Visa, Oracle, and IBM have invested inblockchain to create their version for use across some of the aboveapplications. They already had the required building blocks like expertise indistributed databases and cryptography that could be put together using theblockchain philosophy. Although thereisnt a universal standard adopted yet, and some of the terms are too complexfor a non-technical person to understand, it is highly likely that blockchainwould be transparently adopted and become part of our daily lives soon.

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Blockchain Applications in the Payments Industry - RTInsights

Press release content from ACCESSWIRE. The AP news staff was not involved in its creation.

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HONG KONG / ACCESSWIRE / December 26, 2019 / Its reported that COI Blockchain Foundation, a subsidiary company of China Ocean Heavy Industry, is going to reach in-depth strategic cooperation and undertake the investment distribution with Singapore Flamingo Foundation Pte. LTD, which operates a NewStar project with the mode of Blockchain + Live Streaming.

New to this kind of blockchain project?

With the boom of Live Streaming industry, streamer has come into existence. Based on our understanding, streamers seems to be extremely profitable job with the backing of a competent team and numerous fans base.

Conversely, streamer has faced much greater problems from the platforms and community. The revenue source for streamers is their subscriber base. However, the vast majority of percentage was split to the platforms. In addition, in order to be able to rank in the recommended channels and gain more traffic, the streamers need to split the revenue to the community. Hence, it makes the streamers really hard to make it.

Is there a possibility that the streamers could earn more revenue breaking away from the centralized platform and community?

NewStar, a blockchain platform, offer the chance to realize the possibility by applying the mode of Blockchain + Live Streaming . The streamers can interact directly with the subscribers through NewStar, and there is no third-party compulsory intervention. They can be ranked on the recommended channels depending on their ability. As for the revenue distribution, the streamers can get 100% without splitting. In some cases, there will be some token generated for the subscribers. Both the streamers and subscriber can benefit from it, leading to more and more subscribers get involved. Meanwhile, it drives the streamers to produce high-quality content.

NewStar puts content producer and consumers in direct contact without a third party by building a set of decentralized solutions. Meanwhile, the incentive mechanism of token is applying to maximize the interests of all participants. Based on the characteristics of blockchain itself, every reward given by subscriber to streamers will be recorded on the chain more openly and transparently. The ranking of the recommended channels will be more authentic, avoiding the problem of favoritism and fraud in voting.

COI Blockchain Foundation has reached in-depth strategic cooperation with Singapore Flamingo Foundation Pte. LTD on the operation of NewStar project. It means that the COI Blockchain Foundation has given some ideas of the layout of the entertainment and blockchain, expanding new investments. The COI Blockchain Foundation has committed themselves to a further exploration and development of global blockchain industry.

As a pioneer in field of Blockchain + Live Streaming , NewStar aims to transform the underlying economic system of the entertainment industry through the blockchain technology, and re-structure a decentralized ledger and settlement system to deposit, confirm, store and distribute valuable content in the entertainment industry. In the following period of time, NewStar can further improve its underlying technology by virtue of the resources and influence advantages of COI Blockchain Foundation, jointly promote the project development, and bring valuable and significant changes to the streamer industry chain.

Media Contact:

James Cook

+1 (321) 800-3487

SOURCE: COI Blockchain Foundation

View source version on accesswire.com:

https://www.accesswire.com/571333/COI-Blockchain-Foundation-has-reached-strategic-cooperation-with-NewStar

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COI Blockchain Foundation has reached strategic cooperation with NewStar - Associated Press

Forests in West and East Africa, where conservation efforts are not matching deforestation activities, have undergone almost complete decline between the 1900s and 2017, according to a comparison of reconstructed African forests by a team of ecology and evolutionary biology scientists at Yale University.Through a social impact initiative, the group wants to plant and assign more than 200 million trees across Africa by 2024 before the end of the UN International Decade for People of African Descent. From any part of the world, My Roots in Africa Project, makes it possible for anyone to place a request to have a tree named, planted or gifted in honor of themselves or anyone they love.

"My Roots in Africa is...Uber for trees, connecting local communities impacted by pollution or deforestation, with global citizens looking to plant their roots in Africa," said Kamil Olufowobi, MIPAD's Founder and CEO.

"It presents an opportunity where Africa wins, the diaspora wins, and all of humanity wins. It supports the diaspora to reduce their barrier of entry to Africa.

"For every new tree that is planted, we can name one that is existing after you. Many diasporans want to connect to Africa and there is a deep sentimental and emotional connection that this program brings which is 'now I have roots in Africa'," Olufowobi told CNN.

This will enable its subscribers to know the exact location of their allocated tree and be able to see it using satellite imagery including Google Maps. It also helps prevent allocating the same tree to more than one person.

Planting trees remotely

MIPAD says it is already working with city parks and forestry departments in every major African city to help people plant their tree remotely.

"We get the orders placed and the park and forestry departments are the ones who do the implementation. They are the owners of the trees, all we are doing is being the voice of Africa to the diaspora saying 'you can support Africa and in return, you can have your root planted," Olufowobi said.

MIPAD is banking on its history of connecting Africans to get them involved in the project.

Several African countries are also planting trees.

'Africa is our collective responsibility'

The continuity of long-term projects such as planting millions of trees and combating climate change is a major concern in several African democracies where incoming governments often disregard or abandon long-term projects by their predecessors.

Olumide Idowu, co-founder of the International Climate Change Development Initiative argued that afforestation projects will help Africa to tackle threats posed by climate change such as floods, droughts and heat stress and forests.

Idowu said developed countries can help preserve Africa's forests if they reduce the demand for tropical hardwoods considering that the timber export market is a big driver of deforestation.

To repair the damage that has been done already and to secure the future of the continent's forests, the MIPAD CEO said Africa needs help from around the world.

Therefore, Africa is our collective responsibility. This is not restricted to people of African descent, this is open to all of humanity for you to support Africa and have your root planted right here on African soil," Olufowobi told CNN.

More:

This startup is using geo-tagging and blockchain to fight deforestation in Africa - CNN

The impacts of a new technology can sometimes be less than apparent at first glance. Consider, for example, the arrival of Google Glass. While that product was a widespread commercial failure, it found a valuable use case in industrial and professional settings, where workers can benefit from the information-displaying abilities of the AR technology.

Blockchains gradual acceptance might turn out to be a similar story. While the most visible impact of the new technology, cryptocurrency, has grown to become an $850+ million market, the most exciting long-term impacts of the secure ledger might come from other applications.

Even within the world of real estate, much of the discussion around blockchain has focused on the potential to disrupt current processes. In particular, there is a lot of buzz around whether title and escrow companies even have a future in a blockchain-enabled world. Some articles and white papers, like this one, argue that the answer may be no.

Perhaps we should pump the brakes on some of these more sweeping conclusions, though. I have written here and here about the future of brokerage in an increasingly automated world. Despite the inherently transactional nature of the commercial real estate brokerage business, many industry professionals have outlined their expectations of the field in the near future: disruptions to be sure, but that the best teams will be able to adapt or leverage the power of automation and retain their professional relevance by offering deep local expertise, networking, or humanistic, holistically-applied advice. All three of those things are inherently difficult to actually automate. These takes biased, no doubt, but at the same time they come from the exact people with the power to reshape the industry with automation in mind.

A nuanced opinion on the future of blockchain in real estate comes from Allen Alishahi, co-founder and president of blockchain-enabled contract management tech company ShelterZoom. Allen sees blockchain augmenting the quality of service delivery that title and escrow companies can provide. He told me that both title and escrow businesses will become more secure and less prone to errors, either clerical or intentional, as blockchain becomes commonplace. Once transfers of title are recorded on a distributed ledger it will become much more difficult for someone to dispute who own a property, and therefore who has the right to sell or rent it. When it comes to escrow, there will be much less chance of wire fraud and if the participants use a platform such as ShelterZoom the transfer of funds will be integrated into the contract management platform which will speed up the process and keep all the communication about the transaction in the same place.

Allen is not alone in his perspective. Some title and escrow companies are already adopting with the emergent technology. Old Republic Title Insurance Group, the nations third largest, adopted a blockchain platform last year. But the narrative of adopting tech to keep up with the times is now a tired one. More interesting than the face-value impacts on the obviously-impacted title and escrow companies is the long-term implications for professionals in other parts of the business. Allen added an anecdote from one of ShelterZooms users, a retail owner/manager with over 240 tenants in total. Before using ShelterZoom he had to employ multiple staff devoted just to the cumbersome task of managing all the leases, Allen said. By having them all in one digital place, with the side-by-side communication thread attached to each project (see photo), he will drastically reduce his administrative overhead and have a much easier time tracking down specific clauses in contractssuch as commitments about the maintenance schedule. Also, since he can compare clauses across all 240 plus contracts much more easily he can spot inconsistencies or clauses that no longer serve best interests. The behavior change will come in when the leases are integrated with different systems and will automatically trigger everything from a rent payment to a scheduled maintenance work order.

Its this sort of blockchain story that is the exciting one in this coverage-heavy world. Its the story of how owners and managers are finding their normal tasks altered, improved, or disrupted by a technology that has its most obvious impacts elsewhere. Sure, cryptocurrency might be blockchains breakout story, and within the world of the built environment it might always be title and escrow that gets the most airtime, but the accretionary streamlining and overhaul of processes that have been done the same way for decades might end up being just as disruptive as the internet itself.

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Property Blockchain Goes Way Beyond Title and Escrow - Propmodo