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Simple Token right now seems to aim to become the Stripe of the blockchain industry, are there any plans to expand the usage of the platform to non-developers? Are there any other plans in the pipeline to make Simple Token a “currency”?
Simple Token enables any company to create and manage their own digital branded crypto-currency powered by Simple Token without their internal team needing to know any blockchain technology.
Simple Token combines the “ST” ERC-20 token, an immediately usable protocol for consumer app tokenization, and a SaaS software solution for managing your token economy.
Our message to potential customers is simple: You focus on your own customers and your core technology and leave the blockchain infrastructure to us. We give you all the tools you need to design, create, and manage your token economy.
Simple Token is a digital currency in that it has a value from day 1. Simple Tokens are staked against creating Branded Tokens (“BT”) for each company and the value of those BT is always based on the value of ST.Aside from adoption, what is the biggest challenge that Simple Token is realistically facing as it grows?
Visibly differentiating ourselves from the slurry of ICO nonsense. There are so many companies that are undergoing token sales for the wrong reasons; either they have a product that does not warrant a token sale, they’re looking to scam investors, or they enter the crowdsale phase much too early.
We don’t view a token sale as a fundraising event, although many do. A token sale is a token generation event, and its primary goal should be to create, build out and strengthen an ecosystem, not just make money.
We are also taking care to make sure that the entire Simple Token software program is simple to use, living up to our brand promise.What are the steps that your team is taking to increase the adoption rate of Simple Token once it launches?
Firstly, we’re committed to seeing our Member Companies succeed. We reserved 27.2% of the total Simple Token supply (roughly $18M) for our Network Accelerator Program.
The Accelerator Program provides grants to projects we feel will advance and strengthen the Simple Token ecosystem. These grants will help them fund their development and implementations, incentivize and reward their developers, and provide some warm-up tokens to their users to spur the initial stages of adoption.
We’re giving these grants to projects of all sizes, not just already successful companies, but startups with solid ideas and roadmaps.The best way to increase adoption is to be sure that we’re ensuring the success of those already using the OpenST platform, and support potential projects that will continue bolstering its strength.
Because Branded Tokens will be tradeable across the ST ecosystem, as more companies join the platform, their customers will be able to use their tokens to make purchases from other companies, and vice versa, incentivizing more people to frequent their business.
Loyalty programs are no longer isolated to a single company – in the ST ecosystem, tokens gained through frequenting Company A can be used on purchases from Company B, or even spent in games and apps on the platform.Can you explain more on what you’re trying to do with Simple Token for Pepo? How is it going to change the function of Pepo once the protocol is applied?
We originally came up with the concept of Simple Token in 2016 when trying to develop a token economy for Pepo. Pepo is poised to launch a vibrant marketplace for local tips and reviews using Pepo Coin, powered by Simple Token.
Unlike services such as Trip Advisors or Yelp wherein people give up their reviews for free, Pepo will enable anyone to get rewarded for their valuable contributions.What is your outlook on Simple Token 5-10 years down the road?
We envision Simple Token as the standard for app tokenization. Not only because we offer a palatable onramp for embracing blockchain technology, but because our ecosystem finds strength in numbers.
Eventually, more companies will be incentivized to join because of the universal exchangeability within this ecosystem.
Why go through the development process to create an isolated token that can only be used within one company? Because there’s no incentive to use, buy or sell that token when there’s a globally interconnected token marketplace in which any token can be used to frequent any company.
If a company tokenizes their rewards program onto an isolated blockchain, nothing would change from the current status quo of rewards programs; you buy from Company A, and you use those rewards towards Company A.
Rewards programs, in-game purchases, peer-to-peer transactions across every industry will be used towards any other on the Simple Token platform.
The Simple Token token sale
Simple Token will launch the token sale for the ST utility token.
Below are the details of the token sale:
Token name: STToken base: Ethereum (ERC-20 compliant)
Token supply: 800,000,000 (240,000,000 on sale during the token sale)
Token sale date: 14th of November, 2017Token sale target:
$20,000,000Token exchange rate: $0.0833 = 1 ST
Simple Token’s Website
Simple Token’s WhitepaperBy Daniel
As our editor-in-chief, Daniel is at the helm of our smart tech commentary ship. He is fascinated by this new direction that the tech industry — and really all industry — is taking, and understands the potential, the power, and the promise of putting capital funding in the hands of the public.
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Francisco Gimeno - BC Analyst Really fascinating and a step more towards tokenism ton and the creation of token ecosystems. Good for thought too.- 10 1 vote
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The European Commission has announced €30 billion on new investments in technology initiatives including those involving blockchain. The funding would come through the Horizon 2020 initiative, which to date has been supported by €77 billion in public funding.
The goal is to support new investments in the areas of "migration, security, climate, clean energy and digital economy", as well as "breakthrough, market-creating breakthrough[s]," according to a statement from Oct. 27.
Clean energy is poised to be a major area of focus, with €3.3 billion expected to be committed between 2018 and 2020.As previously reported by CoinDesk, the Horizon program has been the source of as much as €5 million in financial support for blockchain projects within the EU to date.
Indeed, the European Commission has expressed support for committing funds to blockchain research in the past, including work on projects like a database of public company data built on the tech.
While it's not clear how exactly the funds will be spent in relation to blockchain, a representative for the Commission highlighted blockchain's role in the effort in a statement.
"Artificial intelligence, genetics, blockchain: science is at the core of today's most promising breakthrough innovations.
Europe is a world leader in science and technology and will play a major role in driving innovation," said Carlos Moedas, commissioner for research, science and innovation.
Coindesk publishes several articles about Cryptocurrencies and the Blockchain daily you can learn from and discover. See more from Coindesk here: https://www.coindesk.com/eu-government-pegs-blockchain-beneficiary-e30-billion-research-fund/
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San Francisco Ethereal Summit 2017: Robot panelists, blockchain bohemians and the promise of a "decentralized" world.As the Terra Gallery's employees waived Ethereal Summit participants into their trendy, downtown San Francisco art gallery, the atmosphere was electric.
They weren't just ushering in some of the greatest minds in technology. They were ushering in the future of the internet, blockchain technology and "trustless" society.
The Ethereal Summit facilitated cohesion between experts in technology and modern-day innovators.
Sponsored by ConsenSys , a venture studio focused on decentralized applications and developer tools for blockchain ecosystems, the summit had all the necessary tools and then some to promote a transformative dialogue. Throughout the day, panels, Q&As, workshops and art installations bridged the gap between blockchain experts and lead innovators.
Bridging Artificial General Intelligence and BlockchainsBen Goertzel, CEO of SingularityNET , showcased the sassy Sophia Hanson, the "chief humanoid" at his company. His presentation demonstrated the power of Artificial General Intelligence (AGI) and the potential of incorporating AGI and blockchain technology.
SingularityNET's mission is to coordinate AGIs through a decentralized, open-source network. AGIs will become more complex as more is shared on SingularityNET's software framework, which will be released in 2018.
Sophia's AGI can be thought of like a human brain. Code shared on the blockchain functions like the link between synapses.
As more code is added to SingularityNET's network, the AGI becomes a more connected "brain" that is smarter and faster. But don't worry - humans won't be replaced just yet. As Sophia said, "If robots like me are going to become superhuman super-intelligences, we are going to need to get a whole lot smarter.
"SingularityNET will be making its much anticipated token announcement in the near future.
How to Launch a TokenTo demonstrate the process of going from zero to token launch, panelists Galia Benartzi, co-founder of Bancor Protocol ; Matt Liston, CSO at Gnosis ; and Piotr Janiuk, co-founder and CTO of the Golem Project , guided Ethereal participants through a hypothetical: founding a company and funding the development through a token.- Step 1: Determine if the token model fits for the new company; tokens are important when decentralization exists and when incentivizing collaboration within a community.
- Step 2: Find a strong legal team and a favorable regulatory environment; Regulation in the cryptocurrency space is in its infancy and varies greatly from the United States to Gibraltar.
- Step 3: Prototype phase - establish a white paper, set up the concept on the testnet and prove the concept.
- Step 4: Connect with the community and generate interest for the token before finally launching a token generation event to the public.
Investing in Blockchain TechnologyAssessing the value of blockchain technologies is difficult. Olaf Carlson-Wee, the founder and CEO at Polychain Capital ); Gil Penchina, a super angel and investor in digital currencies; Mark David Bakacs, the founder of Venture One ; and Kavita Gupta, managing Partner at ConsenSys Ventures , shared their insight.
They recommended reading white papers and looking for a reason to say no to an investment opportunity, focusing on the value of the product, assessing utility and scalability and understanding the blockchain-backed assets and the core of the protocol.
Overall, the Ethereal Summit showcased the use (and misuse) of blockchain technology and the fascinating disruption promised by the "Web 3.0." Expanding the blockchain industry is complex, technically-demanding and legally-daunting. Yet, the promise of disruption is unparalleled.
Success - and the longevity of the industry - requires collaborative effort.The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Discover more NASDAQ blockchain, finance and tech stories here: http://www.nasdaq.com/article/the-ethereal-summit-brings-blockchain-to-a-broader-audience-cm868136
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Over the past few years, adoption of cryptocurrency has grown exponentially, primarily because of its attractiveness to people looking to use alternative money.
Because all cryptocurrencies are decentralized, anonymous, and electronic, they’ve been called the currency of the future. Let’s take a look at a few of the areas where cryptocurrency is having an impact on the world.
Cryptocurrency Is Becoming A Larger Part Of Our Everyday LivesBitcoin was the first cryptocurrency, and remains the most prominent. Because of its growing popularity, it’s now being used every day, for ordinary transactions. Well-known businesses such as Etsy and Subway accept bitcoins as payment.
The BitPay Visa debit card allows you to transform your bitcoins into conventional money within minutes, and use the card anywhere that accepts Visa. Another platform, ChainTrade, is using blockchain to revolutionize the trade of food and raw materials.
This financial sector represents more than $2 trillion annually.It’s no surprise, then, that there have been movements to legitimize cryptocurrencies as real forms of payment in countries like Japan and Russia. Japan has already accepted bitcoin as legal currency with numerous major retailers.
Russia is seeking to recognize cryptocurrencies as legal financial instruments, which will allow them to deal with the problem of money laundering. Major investors are also starting to consider cryptocurrencies as an investment.
As Ron Quaranta, Chairman of the Wall Street Blockchain Alliance, explains: “Bitcoin and Ether and all these cryptocurrencies are representing a different type of asset class; a different type of tradable commodity.
Investment managers are our fastest growing demographic.”Banks Will Soon Start Using CryptocurrencyFrom its inception, cryptocurrency has been a challenge to traditional banking.
According to experts at Bloomberg News, “Bitcoin — the largest and best-known digital currency — and its peers pose a threat to the established money system by effectively circumventing it.” Why do the new currencies pose a threat?
Because of their anonymous nature and ability to work outside of the system, relying on technology instead of the authority of the state that banks use...continue reading page 2 and 3 of this article on Forbes here: https://www.forbes.com/sites/deeppatel/2017/10/24/what-leaders-need-to-know-about-the-power-of-crypt...
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Blockchain may revolutionize the way we do business nearly as much as the internet did. Here are seven benefits it can have for businesses.
While cryptocurrency as a speculative trade – and, to a lesser extent, an everyday payment system – is creating much hype, blockchain technology is where the raw potential lies.
For the most part, the undercurrent technology is lying low, taking a backseat as developers and industry leaders come to grips with what can be done with it.
But being in the background is in no way an indication of its importance.In fact, many are likening the advance of blockchain technology to the dawn of the internet, predicting significant economic and societal change.
This is due to the fact that, as a decentralized network, it stores identical blocks of information across all computer nodes in the network that owns a copy of the blockchain code.
The network as a whole jointly manages the database of information it contains.The significance? It cannot be controlled by a single entity, the information it contains cannot be corrupted, and the flow of information is completely open and transparent.
Benefits of employing blockchain technology in your business
While there is much still to be discovered about blockchain, and particular applications will be industry-dependent, there are some overall benefits.What is important to keep in mind is that you don't need more than just a general understanding of the backbone of the technology to consider its deployment.
The personal computer first came on the market in the late 1970s, yet most people still don't have an extensive understanding of how it works. However, blockchain developers are in high demand, indicating that, cost-wise, there is still quite a substantial barrier to entry this early in the game.
Here are some potential uses of blockchain technology.
1. Smart contracts
If your business operations support an if-then agreement, smart contracts could be programmed to support execution and deliverables.
2. Cutting out the middleman
The sharing economy has been one of the most important business model innovations in recent years. Blockchain technology can effectively cut out the middleman, enabling peer-to-peer transactions without the fees attributed to the central organizing party.
3. Identity management
Ecommerce will be easier, thanks to more streamlined personal identification systems. An individual's sensitive information that is available online owing to online transactions can be managed more securely.
4. Supply chain auditing
With blockchain, a product's claims can be verified every step of the way, from inception to market, thanks to timestamped dates and locations. This will form an important part of ethical business practices in future.
5. Intellectual copyright protection
Thanks to the transparent, open-access nature of blockchain, the expensive, lengthy process of copyrighting intellectual property will give way to a much more affordable, irrefutable process. It will also transform owned electronic media, eliminating the exorbitant dues currently lost because of illegal file sharing and redistribution.
6. Data management
Everything free online comes at a cost to your personal data, which is shared with the company in question. Blockchain technology will empower users to choose to sell this information to interested parties and manage what activity-generated data is available online.
7. Transparent governance
Voting systems, for anything from unilateral internal decision-making to international politics, can run on blockchain in a process that is fair, universally trackable and completely transparent.
This is by no means an exhaustive list.
Nor are they pipe dreams. For each of these use cases, there is at least one startup operating in the space.
Society has moved into the information age, and with the invention of blockchain technology, we will enter an unprecedented era of trustless business operations that will, as far as we can tell, be technologically immune to human corruption.
Blockchain technology will also continue to make doing business smoother and more intuitive, automating many tasks and eliminating many unnecessary costs.
Michael HenmanMichael is the owner of Venture Team Building. He has over 10 years experience as a trainer, facilitator and manager in Canada, Japan, and Southeast Asia. He is passionate about entrepreneurship, personal development, and creating great teams.
If you enjoyed reading this article, discover even more on Business.com here:https://www.business.com/articles/blockchain-uses-in-business/
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Jakobo Gimeno There is a site that Is using the blockchain technology to trade in game items from Dota 2 and CSGO these items are worth thousands of dollars and sites that trade them would shut down and steal the items they found out its safer to use blockchain for trading because the items will be safe and impossible for one to steal, the world is adapting.
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