Banks and Big Business Scramble for Their Own Digital Cash

Last week Reuters reported that several of the world’s biggest banks have invested $50 million to “create a digital cash system to settle financial transactions”. It’s an on-going project, according to the report, involving the likes UBS, Credit Suisse, Barclays, and Deutsche Bank. Banks are being tight-lipped on the project, and it should be noted […]
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Source: AMB Crypto

Can Blockchain solutions cure healthcare woes?

Blockchain has been the buzzword in the tech industry for the past few years since Bitcoin and other cryptocurrencies have surpassed other assets in terms of value. Bitcoin seems to satisfy one use case and sticks to it while other projects have forked, built and innovated on Bitcoin’s core promise of a decentralized, trust-less environment […]
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Source: AMB Crypto

Do ICO’s keep their promises? Analyzing the roadmaps of 2018’s ICOs

The year of 2018 gave birth to a myriad of new blockchain projects, of which many chose the route of an Initial Coin Offering [ICO] to get funded. When examining the substantial number of ICOs that emerged during the past year, you obviously stumble across thousands of ICOs which promised to provide creative solutions to […]
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Source: AMB Crypto

Crypto InterCambio provides crypto exchange services for more than 100 crypto assets; exchange charges no registration or service fee

The economic situation in Latin America is anything but prosperous right now as major countries in the provinces are struggling to cope up with extreme mismanagement and the prospects of growth remain very frugal. In light of the current situation, many countries had turned their attention towards virtual-assets as a way out of the mass […]
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Source: AMB Crypto

Balancing Cypherpunk Principles and UX With Multi-Party Computation

One of the fascinating, and frustrating, aspects of the broader cryptocurrency space is the prevalence of trusted third-parties in an ecosystem built on the notion that trusted third parties are security holes. From honeypot exchanges to custodial services with “bank-level encryption,” much of the crypto ecosystem is non-representative of its origins. Without diving into the […]
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Source: AMB Crypto

Crypto Analysts are Bullish for XRP: Predicting it will Reach $7 in the Coming Weeks to Months

The positive sentiment for XRP is strong, with a number of major players in the crypto space declaring some rather bold projections for its price to significantly increase in the near future. Namely, prominent crypto identity, Sir Gordon Gekko, tweeted his prediction on May 28th that XRP will soon reach $7-$10 based on the similar […]
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Source: AMB Crypto

This Blockchain Startup is quietly snatching up the best crypto talent

The demand for blockchain talent is high, and among the ICO craze of late 2017, led to lucrative salary offerings for developers well-versed in the art of smart contract builds and implementing open-source frameworks like Hyperledger.
The market for blockchain talent has shifted since then, however. With ICO funding declining, talent is gravitating towards more established firms, like IBM. In addition, companies like Facebook and Circle are making the plunge into cryptocurrencies, with their looming impacts set to unfold over the next several years.
However, one project has quietly, and consistently, been pulling talent away from even the tech giants – Algorand.
Attracting Top Talent
A pure proof-of-stake [PoS] blockchain network, Algorand grabbed headlines in 2017 when MIT professor and cryptography pioneer, Silvio Micali, announced the permission-less blockchain platform.
Algorand focuses on providing the blockchain-based infrastructure for the “border-less economy,” and has integrated some innovative cryptographic primitives to reconcile the blockchain trilemma problem of permission-less networks. Micali made waves in April 2017 at the Financial Cryptography and Data Security conference in Malta when he sparked debate about the role of incentives in a public blockchain’s consensus – raising speculative interest in the launch of Algorand.
Algorand went on to open its public test-net roughly 2 years later, after netting a reported $66 million in funding throughout 2018 and quietly accumulating high-profile talent in computer science, distributed systems, game theory, and more.
For example, lead development talent on IBM’s Blockchain team – which filed 89 blockchain patents in 2018 – recently jumped ship to Algorand. Similarly, Algorand just announced the on-boarding of Greg Golvin, colloquially known as the “Gandalf of Ethereum” for his contributions to the optimization of the Ethereum Virtual Machine.
Algorand in their announcement post, detailed,
“Greg brings to Algorand over three decades of experience in all phases of computer software research and development. As a veteran scientist and engineer, Colvin will play an integral role in the creation of our atomic swaps, smart contracts, and virtual machines.”
Algorand even snagged Facebook advisor, Morris Hurley, who was contributing to Facebook’s tight-lipped, upcoming stable-coin payments system – GlobalCoin – which they recently consulted the CFTC about.
The recent moves add to an already impressive ensemble of entrepreneurs, researchers, developers, and computer scientists working on making Algorand a reality. Besides Micali, who is a recipient of the Turing Award and Goedel Prizes in computer science, the Algorand CEO, Steve Kokinos, is the founder of both Fuze and BladeLogic Inc – two established enterprise-focused software firms with immense success. Add in the prominent entrepreneur and cryptography expert Naval Ravikant and Shafi Goldwasser, respectively, and the vision of Algorand’s potential is manifested.
The key additions for the Boston-based company are part of its preparation for the eventual roll-out of the Algorand public network, which will follow some core road map developments such as the Vault compression technology and Pixel digital signature scheme.
A More Conventional Business Dynamic
In an industry where prominent Bitcoin core developers have historically faced a rash of criticism from community observers and critics, and many open-source developers choose to remain anonymous, the growing role of public figures in a traditional company setting seems surprising, yet inevitable.
Gartner recently estimated that the value-added impact of blockchain technology is expected to hit more than $176 billion by 2025, and that product managers should prepare for the rapid evolution of a shifting competitive landscape.
Permission-less networks seem poised to retain the largest market for positive impact and have a unique advantage over enterprise blockchains, which, according to Gartner, are set to require replacement within 18 months to maintain competitiveness.
This doesn’t necessarily mean that the enterprise blockchain team structure needs to be overlooked. Permission-less networks don’t need to undergo a wholesale transition from their community-driven “rough consensus” model either.
However, projects like Cardano and Cosmos reveal that endeavors innovating at the edge of an esoteric market are increasingly taking the expert-driven development approach akin to the conventional startup arrangement.
It’s simply too challenging and time-consuming to bootstrap the organic community-contribution approach that anchor Bitcoin and Ethereum following years of expanding network effects.
Algorand seems presciently aware of this pending trajectory, and have been accumulating the leading talent behind the scenes to prove it.
The article was written by Ryan Evans.
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Source: AMB Crypto

Pros and cons of Bitcoin casinos

Over the course of a decade, crypto has transformed from a fringe curiosity among techno geeks into a $250 billion market that could ultimately change the way we understand the concept of money itself.
Yet for all its grandiose pretensions and dramatic possibilities, everyday adoption of crypto is still some way away. Or is it? There is one sector that has taken the bull by the horns and is seeing far more rapid adoption than others. Like crypto, online casino games at sites like Casinoeuro have grown into a global industry with a 12-figure value in a few short years. As a purely digital market that involves frequent financial transfers, many believe the online casino sector is the ideal proving ground for Bitcoin and other cryptocurrencies.
The first Bitcoin casino opened up its virtual doors to the public in 2014. Three years later it started accepting Ethereum, and the range of cryptocurrencies that people can use for gaming continues to grow. At the same time, established names in the casino sector have seen the potential of crypto and added it as a payment option as an alternative to bank transfers, PayPal and so on.
Advantages of using Bitcoin for gaming
For many gamers and gamblers, the biggest attraction of Bitcoin is its anonymity. Casino-goers can be a private bunch of people, for all sorts of reasons. For some, it is purely a personal matter, while for others, the anonymity means they can play from geographic locations in which conventional payment mechanisms are restricted.
Speed is another significant factor for gamers. Nobody wants to be waiting till the next day, or even longer, for a bank transfer to go through, so the instantaneous nature of a crypto transfer makes this a compelling option. As well as being fast, most Bitcoin casinos do not charge transfer fees, so they also add cost-effectiveness to their armory.
Finally, there is the security aspect. Today’s gaming sites are highly regulated and secure, but there is still that hangover from the “wild west” days of the 1990s that can cause people concern. For them, blockchain’s security reputation is the deciding factor.
What about the disadvantages?
The main reason we have not seen significant adoption of Bitcoin for routine payments has been its price volatility. For those who use a Bitcoin-only casino, this is not necessarily a problem, as a win or lose, they are playing in a “Bitcoin vacuum” transferring their crypto between their gaming account and their online wallet.
For those choosing to play using a more traditional site, fluctuations in the exchange rate can be more of an issue, however. Here, the Bitcoin will be converted into a base category, typically USD, before and after you play. In other words, the very act of playing using Bitcoin can be a bigger gamble than the game itself.
Choose the right site, however, and Bitcoin gambling has more pros than cons. It is easy to see why this sector is something of a pioneer in the use of crypto as an everyday currency.
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Source: AMB Crypto

Recruit’s funding division, RSP, announces investment partnership with COTI blockchain enterprise.

Recruit, a Japanese-based investment enterprise with a $50 billion market cap, announced that its next major blockchain investment will be in COTI. COTI is a revolutionary, block-less and miner-less blockchain designed to solve many of the scalability issues faced by cryptocurrency. Recruit has established a blockchain specific Blockchain Tech Fund in response to the growing number of opportunities within the blockchain space.
What is Recruit?
Recruit is an international investment leader offering a stake in all stages of business investment opportunities across a variety of tech industries. The company has a particular interest in blockchain, fintech, robotics, AI, and business application services. Companies including BitFlyer, Shift, Udacity, and 99Designs have benefited from strategic investment partnerships with Recruit.
Source: Market Across
Recruit created its Blockchain Tech Fund specifically to address the enormous potential of blockchain technology. To support the unprecedented expansion of blockchain-based technological advances, a high level of support from traditional investment partnerships and business models is necessary.
The Recruit Blockchain Tech Fund provides rapid funding of auspicious blockchain technology projects. RSP funding is available throughout all stages of project development, from seed round through growth and expansion.
The Blockchain Tech Fund uses token fundraising to support new business model development in its investment partnerships. This strategy effectively promotes blockchain business expansion as well as mainstream blockchain adoption.
Appeal of COTI
COTI, or Currency of the Internet, offers a unique and promising solution to a global issue using blockchain technology. This issue is scalability.
Regardless of technological advancements, traditional blockchain structures have proven incapable of scaling to meet the needs of a global market. This is particularly true as blockchain expansion continues to move into mainstream business fields.
COTI is based on a Directed Acyclic Graph [DAG] protocol. This structure eliminates both blocks and miners, drastically reducing size and energy expenditure. According to COTI’s website, the platform seeks to provide transaction services at a lower cost than even fiat payments.
Using COTI, organizations can build unique payment solutions. By digitizing a currency of choice, payers and payees can save time and reduce the significant cost of transaction services.
Further bolstering its security capabilities, COTI stores funds in offline, cold wallets, safe from hacking and cyber attack.
COTI and RSP
As COTI and Recruit move toward similar end-goals, promoting and developing the expansion of blockchain technology, both companies recognize the potential for widespread blockchain benefit.
Shahaf Bar-Geffen, COTI CEO, stated,
“We’re pleased to have made it on the radar of the RSP Blockchain Fund and its larger mission of making leading blockchain projects known to the world at large. This is a notable accomplishment for COTI and further anchors our belief in the enormous potential of the technology market in East Asia.”
Source: Market Across
Blockchain industry stands to see tremendous benefit from this partnership, as both parties seek to further the expansion and growth of blockchain throughout the traditional business enterprise.
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Source: AMB Crypto

Betrio – The Long-Awaited Revolution in Modern Gambling

Gambling is the second most profitable industry in the world after the foreign exchange markets – Forex. According to the latest data of a recent Cambridge analysis, the gambling industry’s revenue will surpass the staggering $1 trillion by 2021.
There’s a huge problem in this industry, though. Due to the conditions, which traditional bookies currently can offer, without breaking their bank, 90% of all bettors lose their wagers, respectively their money. This is about to change very soon with Betrio who is here to shake and revolutionize the entire betting industry. Betrio is a pure utility token, which can be used to bet on its own bookmaker – BUFF.bet. It will give numerous benefits to its players thanks to Blockchain technology.
Before we shed some more light on that, let’s first see what problem traditional bookmakers are facing.
The Problem with Traditional Bookmakers
The traditional bookies that are currently operating today work only with fiat money. This significantly limits them to leave the mandatory financial framework, which a bookie needs to function properly and not to go bankrupt. It also limits their ability to offer attractive gambling conditions, thus significantly reducing their chances of winning.
What’s the maximum a traditional bookmaker, operating with fiat money, can offer?

A one-time, 100% initial bonus up to 200 EUR for sports bets;
A one-time, free bet [bonus] up to 50 EUR for sports bets;
100% casino bonus up to 1,500 EUR for casino bets [the condition is to deposit 3 x 500 EUR to get 3 x 500 EUR bonus for each of the three deposits];
Cash-back up to 50 EUR – only once per account;
Cash-back up to 100 EUR for casino bets – only once per account.

*The bonuses described above are the current maximum [21 May 2019]. In general, these bonuses allow a bookie to function normally and its bank to not go bankrupt.
The Solution – Betrio
Thanks to Blockchain technology, which lets a given project to have its own cryptocurrency [Betrio], everything is changing. This will give BUFF.bet the opportunity to offer its gamblers much more attractive conditions than traditional bookmakers
What can Betrio’s bookmaker – BUFF.bet – offer?

A one-time, 100% bonus up to 500 EUR in Betrio for sports bets;
A one-time, Free bet [bonus] up to 200 EUR in Betrio;
100% bonus up to 5,000 EUR in Betrio for casino bets;
A LIFETIME 35% cashback from EVERY lost bet!!!*;
The HIGHEST combo accumulator bonus** in the industry – up to 100% for every column of the total bet!;
Attractive everyday bonuses.

*Example for a cashback: Let’s say you want to bet 1,000 Betrio that Chelsea will win against Arsenal. However, the match ends in a draw – hence, you lose. At BUFF.bet, you’ll get a 35% cashback -> 350 Betrio.
**[Combo accumulator bonus: The more events you add to a single column, the bigger the bonus – the increase in the odds you receive.]
Conclusion
Betrio [BEO] token will give gamblers enormous benefits, in comparison to fiat money betting in traditional bookmakers. This will make it unique, powerful, and very attractive to gamblers and investors alike.
You can learn more information about the Betrio project here on the Website, Telegram, Facebook, Twitter, Medium, YouTube, Reddit, Email.
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Source: AMB Crypto

After the Wild West, the Next Generation of Crypto Companies are Advancing the Industry

Back in the ICO boom of late 2017 and 2018, it was too easy for anyone to enter the crypto space with little more than a white paper and a sales pitch. However, once their ICO was over and the spending sprees started, even the most well-intentioned projects struggled to sustain themselves. A quick browse through Deadcoins shows that many simply burned through their funds and ultimately never brought a product to market.
Now, the crypto market is starting to grow up. The community has been burned by too much hype around useless niche products too many times. Therefore, the pressure is on tech startups to demonstrate they have solid business acumen together with a sustainable plan for the future.
As more and more Mainnets launch, there is also increasing recognition of the importance of interoperability. A standalone product is like a lone tree in a lightning storm, prone to being hit.
Interoperability means becoming an integral part of a thriving blockchain-based ecosystem. Those who understand the importance of developing this ecosystem are the ones who stand the best chance of surviving in the long term.
Here’s an overview of three companies with a strong focus on playing the long game and driving towards an interoperable ecosystem.
Polymath
A significant factor that led to the explosion of ICOs in 2017 and 2018 was the existence of the ERC-20 token standard. Now, regulatory clampdowns mean ICO’s will be treated as securities. Therefore, many startups are turning to the security token offering (STO) as a means of crowdfunding.
Polymath is aiming to replicate the success of ERC-20 through its own offering, the ST-20 token standard. This provides a compliant means for founders to fund their visions, and as it stands, over 100 tokens have already launched using Polymath. It’s a complete turnkey solution for running an STO without falling foul of the regulators.
At the recent Consensus 2019 event in New York City, Polymath confirmed that it will develop a separate blockchain for regulation-compliant tokens with Ethereum co-founder and Cardano developer Charles Hoskinson.
Polymath also operates a treasury. The company has locked up 75 million of its own tokens for five years. This treasury approach provides a long-term, sustainable option for funding future endeavors.
ChangeNOW
ChangeNOW offers non-custodial crypto exchange services without limits or registration required. Using ChangeNOW, a user can trade in their chosen cryptos in just five easy steps with no hassle. They simply select their tokens for selling and buying, and the interface determines the best available rate at the time. The user receives the address for sending funds and provides their own address for receipt. It’s that simple.
ChangeNOW is working hard on establishing many partnerships across the crypto landscape. It has relationships with exchanges including Binance, Bittrex, and Bitfinex, and wallet providers such as Ledger, Trezor, and Atomic Wallet. The company recently received the endorsement of Binance CEO Changpeng Zhao (CZ) for it’s NOW token to become one of the first listed on the newly launched Binance DEX.
The company has also been rolling out a series of innovative features for its users. It now offers a zero-fee public Lightning node, which enables instant payments and cross-chain atomic swaps. It also has a service called NOWpayments, which allows vendors to start accepting cryptocurrency payments through a native integration to their platform, or through a widget.
For startups which want to swap out their ICO tokens to ones issued on their own main net, ChangeNOW also offers a dedicated token migration service. Finally, in keeping with the growing trend of exchanges operating a loyalty program, ChangeNOW will also be opening up its VIP Lounge, which provides premium benefits to members.
LiquidApps
LiquidApps exists to remove barriers to dApp adoption, both for users and developers. It’s achieving this through the operation of its DAPP Network, the backbone of which is the Dapp Service Provider (DSP) and the DAPP token.
A DSP can be any individual or entity which meets the requirement for becoming an EOS block producer. A DSP can then sell services over the DAPP Network in exchange for DAPP tokens.
LiquidApps is rolling out services thick and fast. The first was vRAM, which is compatible with EOS RAM but without the limitations and consequent supply-and-demand challenges of the latter. Next up was vAccounts, which allows developers to offer a dApp-specific account for new users, removing the requirement for users to have to buy RAM to open an EOS account.
Now the company is offering a host of new services, which includes the potential for inter-blockchain communication with its new ChainOracle XIBC service. It allows developers to bring in sources of external information (for example, from other blockchains or even the internet) to their dApp, which has previously been challenging due to the deterministic requirements of a blockchain. Using the LiquidApps solution, external data can be verified by a DSP in such a way as to retain the integrity of the network and root out bad actors.
By enabling communication between blockchains in this way, LiquidApps is aiding the development of an interoperable ecosystem. In turn, the company is carving out a role for itself in that ecosystem long into the future.
Summary
These three companies are leading the way in taking a long-term view alongside working to build a flourishing blockchain ecosystem. These developments are reliable indicators that the days of the crypto wild west are coming to an end, and the sector is now entering the next stage of maturity. This growth can only work for the benefit of all participants.
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Source: AMB Crypto

Bitcoin and Blockchain-A match made in heaven for Online Gambling

Bitcoin has been around for over 10 years now, and while it is still a long way off from replacing cash, it certainly seems to have found a place in society.
Adoption of Bitcoin and other cryptocurrencies has been hindered largely by the fact that they don’t yet offer many real-life use cases. So long as people can continue to use cash and credit cards safely for everyday purchases, they don’t see the point in changing to Bitcoin. While it seems likely Bitcoin or some variation of it will almost certainly replace cash one day, it most likely won’t happen tomorrow.
In some industries, however, Bitcoin [and the blockchain technology upon which it is built] offer significant advantages to day-to-day operations. Online gambling is one such industry.
Peace of Mind
When it comes to money, there is nothing more important than giving your customers peace of mind. Banking and personal details are a difficult thing to ask for over the Internet, even if you are a well-known and trusted company. Traditionally, people don’t trust giving their personal data away on the Internet, no matter how secure the platform claims to be.
With online gambling, it can be especially difficult to gain customer trust, particularly if you are new to the sector. This is where cryptocurrencies offer a fresh perspective when it comes to making payments online. When gambling with Bitcoin, there is no need to hand over banking or card details to some strange or unknown entity.
Digital assets like cryptocurrencies already exist online and can be sent safely and securely between two people without needing to reveal any personal data other than your Bitcoin wallet address.
An online casino that accepts Bitcoin can instantly receive a deposit of funds from a customer without even needing to know their name. The customer can rest assured that none of their banking or personal details are sitting on a random database somewhere, vulnerable to a hack or cyber-theft.
Faster and More Affordable
Above and behind the peace of mind that Bitcoin gambling can offer, there are the additional benefits of speed and affordability. Traditional banking transactions are slow, often taking days to clear. If you want them to be quicker, you will need to use a credit card – which usually attracts high fees.
With cryptocurrencies, transfers are instant and practically free – often attracting only a tiny transaction fee to cover network costs. The beauty of blockchain technology means there is no need for a third-party intermediary like a bank or credit card company to verify your transaction. The blockchain network is supported by thousands of computers which instantly and automatically verify transactions in a 100% secure and reliable fashion.
The technology is far more advanced than anything else that the banks currently use and not only removes unnecessary staffing costs but also the possibility of human error.
A perfect record of events
Blockchain works by recording each and every transaction on a massive digital ledger that is distributed amongst thousands of computers worldwide. While this information is entirely transparent and viewable by all, it cannot be altered or changed by anyone. In addition, it is encrypted in a way that offers all the necessary information needed to confirm an event without ever revealing any personal details.
This means that no parties involved in a transaction can ever cheat the system. For online casinos, this offers the perfect environment of trust between customer and operator. The customer knows the casino can’t rig the system and the casino knows the customer feels confident that he is playing a fair game.
Blockchain technology also offers methods by which casinos can operate ‘provably fair’ random number generation [RNG]. This means customers can put into question the outcome of a dice roll or roulette spin. The computer algorithm that generates the random number is not controlled by the casino and code and resulting data is entirely transparent immutable.
This means all disputes can be easily and unquestionably resolved, making the casino operators lives easier. 
Conclusion
Gambling should always be as fun and enjoyable as possible without any extra safety concerns. When competing online, you will play your best when in an environment that is trustworthy and stress-free.
Gambling with Bitcoin assures you that while you may not get a perfect hand every time, at least you know you can trust the dealer and that your money is safe.
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Source: AMB Crypto

Healthereum, the blockchain platform for modern healthcare

Safety and rewards both have essential places in the current work. It is the age of technology, and so more and more businesses are availing the blockchain platform to add a layer to themselves. The same is happening with healthcare which is a crucial part of the society and will be at certain times. Without adequate technology, healthcare cannot progress, and it cannot possibly accept everyone into its sphere.
A blockchain platform can transform it into a wholesome one where everything from payments to bookkeeping to patient-doctor interaction can happen smoothly. Already, a lot of the healthcare industry has been thinking about moving in such a direction.
With a start-up such as Healthereum LLC, this becomes a reality for the healthcare industry. Apart from keeping the complete data safe, it also acts as the platform which can fill the gap between a patient and their healthcare provides, a patient engagement platform. The start-up focuses on patient incentives for fulfilling tasks requested by one’s doctor. Rewards are always a great way to motivate people. So, the rewards that one gets can be used to gather more patient data which is needed to better one at providing excellent healthcare. The platform is a global blockchain, and the reward that one gets is in the form of HEALTH tokens.
The reward works as such that the patients will want to get rewards and for that they will need to: meet their appointments at the right time, fill out surveys, and engage with other healthcare tasks. Along with that, the doctors are connected to the patients even after they have left the clinic. Through the blockchain platform, the doctors can send messages to their patients and vice versa. The patient interface is known as HELIO or Healthereum Life Portfolio. And for healthcare providers, it is called HELIO[S] or HELIO Syndicate. The provider can send rewards to the patients once they complete the specified tasks. They can use the rewards in return of healthcare benefits from the providers whenever they need it. It creates a cycle of tokens between the healthcare providers and the patients.
Who will be the participants in Healthereum?
As the blockchain is related to health, it is evident that it wouldn’t be just a doctor and patient platform. There will be several other participants who become a part of this global healthcare blockchain. Some of them include the individual who is signing up for the platform as a patient, the provider who is trying to help people who need their help, the hospitals who are in partnership with the doctors so that they can approve them and also help them, corporations, the government, and the insurers all are participants. Everyone has equal parts to play in the platform which will provide it the wholesomeness that it needs to perform well.
What about Security Tokens?
To make the Healthereum platform a reality people need to invest in the idea. So, what is the surety that their investment will become a success? To answer this question, security tokens are significant for such services. Healthereum does have security tokens which are like an added layer of trust just like it happens in the stock market. Their security tokens are known as HLTH, and they are different from the utility tokens distributed in the platform. HLTH represents a unit ownership of Healthereum. Even a country like the US has made it mandatory to prevent ICO fraud.
This idea will be beneficial for the provider as well as for the investors. In all, Healthereum strives to eradicate the inconsistencies present in the healthcare field and sores to make it a better place for everyone. The blockchain platform can be the next big step that healthcare currently needs.
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Source: AMB Crypto

How safe are cryptocurrency payments?

Cryptocurrencies, according to the dictionary, are “a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.”
If all of that sounded like a foreign language to you, you aren’t alone. Put more simply, cryptocurrencies are digital funds that allow you to make purchases and trade funds in a decentralized state. This means without the confines that come with using a bank.
Think of it as peer-to-peer sharing for money!
Though you may be hard pressed to find physical financial entities willing to take crypto seriously, you might be surprised to discover how insanely popular this digital financial market has become. In fact, in 2018 it was found that over 18 percent of US students have owned cryptocurrency at one point, and those numbers seem to be growing!
What are The Benefits of Crypto

Prevent Identity Theft: Using traditional spending methods as a credit card put you at risk of having your identity stolen. ATM skimmers are a common way for people to get your card information and drain your bank account before you ever even realize what is happening. With Cryptocurrency, your purchases involve sending specific digital amounts of money with no attached or required additional information. There is nothing there for criminals to latch onto in an attempt to steal your identity.
Avoid Buyer Fraud: Many people who sell items or services online have dealt with the frustration of unwarranted charge-backs from purchaser looking to get something for free. Fortunately, this is not possible when dealing with Crypto.
Lower Transaction Fees: Unless you are using a third-party service to maintain your bitcoin wallet, there are no transaction fees for crypto purchases.
Fund Safety: When you keep your money with a real bank you risk losing it in the event of an economic crash. Since crypto doesn’t use banks, this can be avoided.

How Does Paying in Crypto Work?
Cryptocurrency operates on a technology called blockchain. The blockchain is a decentralized public ledger that uses what is effectively peer-to-peer sharing to maintain financial transactions. There are sometimes up to 5 million networks involved in the processing of these transactions depend on the type of crypto you purchase.
Once you have purchased cryptocurrency you will need to maintain it in a digital wallet. Since crypto is not a tangible form of money, these digital wallets help maintain your crypto amounts before and after transactions.
Once you have your wallet set up and are prepared with coins to spend, you are set to go. Not every online store or service allows the use of cryptocurrency, but those that do function similarly to regular credit card purchases. During standard checkout procedures you will see crypto as a payment option and will be given directions there on how to make your purchase.
You might be surprised to hear that even some travel sights and airlines are accepting crypto purchases now, which really show how popular it is becoming.
Dangers of Spending Cryptocurrency
Some of the benefits of Crypto also double as their dangers. Remember how we mentioned that purchasers can’t reverse their orders from you without cause? Well, this also means that you, as a purchaser, cannot reverse transactions that are made with crypto.
The anonymity of purchases can also make it harder to resolve any cases of fraud against you.
One of the biggest dangers of crypto is that it is currently a huge target for cybercriminals. Since the currencies are anonymous and not linked to personal info, it is the perfect target for those who want to take money from others without being tracked down.
This is why it is so important to focus on security measures for using cryptocurrency.
Security Measures for Using Crypto
Use a Reputable Wallet
Using a reputable wallet for your cryptocurrency is vital to ensure that your transactions are monitored correctly. You would hate to make a purchase and see double the amount you spent missing from your wallet!
Use a VPN
Virtual private networks are the pinnacle of digital security. Using top rated VPN services is a great way to ensure the safety of your digital currency. These services encrypt your data, provide you anonymity, and create a secure tunnel for all data to pass through.
Double Check Addresses
An easy measure to help secure your crypto transactions is to double check the address you are sending your transactions to.
Two-Factor Authentication
Always use two-factor authentication to ensure that your cryptocurrency isn’t accessed by unauthorized users. Two-factor authentication protects you by making it so a hacker would not only have to ascertain your password, but also a time-sensitive code.
The post How safe are cryptocurrency payments? appeared first on AMBCrypto.
Source: AMB Crypto

Coinsbit: the first cryptocurrency exchange in the world, integrated with the 200,000 POS terminals

Coinsbit is the first exchange in the history of cryptocurrencies, which has implemented a large integration with 200,000 POS-terminals. Now it provides the possibility to its users to purchase digital coins for Fiat funds with no mediator involved. Tokens will be available for purchase through terminals, in case it is listed both on the exchange and on POS-terminals.
In this regard, Coinsbit will constantly add coins to the exchange and act as a gateway for POS-terminals. In the future, this model will make the exception of Fiat funds during the IEO possible.
200,000 terminals are owned by the startup Cylcebit and distributed worldwide, including South Korea, Vietnam, China, India, and other countries. Cyclebit’s goal is to make each trading terminal capable of accepting cryptocurrency payments. Now the platform processes 1 million transactions per month with an annual turnover of card payments of $1 billion.
Source: Coins Telegram
A word from CEO – Nikolay Udianskiy:
-How did the idea of Coinsbit come to you?
We worked as a development team before and built quite many projects. We gained vast experience in building exchanges for others, so now it is a time for our own exchange!
We decided to build something different to conquer the market. We want to make crypto market accessible for ordinary users and good enough for skilled traders.
-What are the main features of Coinsbit?
We want to integrate completely new features such as lending between users [on the security of crypto] and the integration of POS terminals around the world through the exchange gateway.
We stand out for strongest security: more than 95% of all currency are stored on cold wallets.
Another main distinguishing feature of Coinsbit is support for processing speed of up to 10 000 trades every second and 1 000 000 TCP connections.
-What startups did you run previously?
We were engaged only in the development of IT products.
-What is your intention to give to the crypto community?
Interaction with the fiat world is so necessary for the crypto community worldwide. That’s why we are implementing the POS technology which is linked to Coinsbit.
-How long does it take to build your own crypto exchange?
We had been building the exchange since the beginning of 2017 and finished it in summer 2018.
-What do you think about decentralized crypto exchanges?
Decentralized crypto exchanges are run not by people, but by software, so they allow the participants of the market to trade directly with each other without any trusted third party to process all trades. P2P exchanges offer high resistance to transaction censorship, are cheap to use, private and secure, thus we look very positively and understand that the crypto community really needs them.
-There are so many exchanges already, what makes Coinsbit better than competitors?
We are creating new services that are very necessary now and which have never been used before us: loans, POS. Coinsbit is the first exchange, which provides the possibility to its users to purchase digital coins for fiat funds without any mediator.
-For fun. What is your prognosis on Bitcoin’s price in 2019?
I suppose it will fluctuate from 3300 USD to 4900 USD during this year. Growth will start in 2020 approximately.
-How long will it take to hit Coinmarketcap’s top by Coinsbit?
There are very strict requirements for being on top, we are investing a lot of money in our IT capabilities, we develop infrastructure which can afford to reach this place within such a huge market and meet the needs from sophisticated, high-frequency traders and institutions.
There are so many exchanges with fake volume. What do you think about that and how to solve this problem?
I don`t think about it. This doesn`t affect the crypto community as a whole. This is just innocuous marketing.
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Source: AMB Crypto