Governmental Blockchain Adoption: Efficient and Transparent Government Systems

Governmental Blockchain Adoption: Efficient and Transparent Government Systems

Most can acknowledge the potential use instances of cryptocurrencies and blockchain applied sciences, but when governments don’t acknowledge this expertise as viable, what are the possibilities of true adoption?

Governments everywhere in the world have conflicting views on the utilized use of blockchain applied sciences in conventional governmental methods. Some governments are afraid because it undermines and poses a risk to their present political and financial methods. They worry the alternative of methods which constrict common residents and solely profit politicians and enormous companies.
On the opposite hand, there are governments who assist blockchain expertise and acknowledge the immense energy and functionality this expertise has. Many international locations have begun to check the usage of blockchain applied sciences, which hope to extend the effectivity and transparency of governmental methods. Whether or not it’s monetary empowerment, social change, or enhanced democracy by way of blockchain voting options, this expertise has the facility to enact change and disrupt conventional methods.

Canada: a Key Role in Governmental Adoption
Canada is a rustic usually seen as accepting and open to new concepts. Canada can be one of many international locations main the cost in the direction of governmental blockchain adoption. The National Research Council of Canada has begun trialing blockchain applied sciences as a supply of latest ranges of transparency and of belief.
What the Canadian NRC hopes to do is to make the most of the Ethereum blockchain and sensible contract system to boost transparency in funding data and grant particulars. They have begun testing with the Ethereum blockchain by sending such data to a Canadian blockchain firm known as Bitaccess.
Just for a little bit of background informatioon, Bitaccess is a blockchain firm based mostly in Montreal, Canada. Bitaccess covers all kinds of blockchain and cryptocurrency based mostly subsectors. These sectors embrace cryptocurrency atms, cryptocurrency portfolio constructing, and sensible contract enterprise options.
The funding and grant data is then moved onto the Ethereum blockchain by Bitaccess after which might be verified by anybody by checking the transaction ID on an Ethereum block explorer, reminiscent of Etherscan. This system permits any associated events or the general public to obtain a heightened stage of transparency.

The National Research Council of Canada says:
Blockchain expertise is one thing that many innovation consultants are speaking about as the best way of the longer term… Once knowledge is entered on a blockchain, it’s safe and unalterable, and supplies a everlasting document. Blockchains present the last word in transparency and belief, making this expertise a courageous new world for organizations that attempt to conduct clear enterprise.
This elevated transparency and accessibility ought to improve governmental belief with the general public. As seen by many current developments in worldwide governments, excessive ranges of transparency are essential within the success of the federal government as secretive governments should not trusted by its residents.
It is nice to see worldwide governmental organizations working with blockchain corporations to enhance their methods. This is likely one of the first steps in the direction of the worldwide adoption of Internet 3.0 applied sciences. With the arrival of blockchain applied sciences, there’ll come the paradigm shift in worldwide methods.
What governmental methods do you need to see ‘blockchainivized’? Let us know within the feedback under.

Images Courtesy of Wikimedia Commons/@Suwannee Payne, Pixabay/@Geralt, and Bitcoinist archives.
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World’s First Olympic Athlete Paid in Cryptocurrency

World’s First Olympic Athlete Paid in Cryptocurrency

Canadian velocity skater Ted-Jan Bloemen has grow to be the primary Olympic athlete to be paid in cryptocurrency, following a take care of two new know-how firms.

A ‘entire new frontier’
For the primary time in historical past, an Olympic athlete has been paid in cryptocurrency.
According to CNN, Canadian velocity skater Ted-Jan Bloemen — a double world file holder — has signed a one-year sponsorship take care of cryptocurrency-focused social community onG.social, along with agreeing to phrases with digital actuality developer CEEK VR.

According to his agent, Bloemen is exploring a “entire new frontier” in terms of Olympic athletes funding their pursuit of success, by accepting cryptocurrency as a type of cost. He defined:
This is mostly a entire new frontier. It will probably be thrilling to see how cryptocurrency can work for Ted-Jan, particularly, but in addition the impression it would have on the game advertising and marketing trade as an entire.
Bloemen’s deal is pretty simple. In alternate for documenting and sharing his Olympic journey on onG.social and starring in a 360° digital actuality expertise with CEEK VR, he’s compensated in cryptocurrency.
CEEK VR founder and CEO Mary Spio sees large potential for sports-focused digital actuality experiences, and is thus completely happy to have Bloemen on board, explaining:
Bloemen’s help for cutting-edge applied sciences is reflective of his proclivity for pushing the boundaries. We consider Virtual Reality isn’t simply nice for our viewers (Ceekers) however will finally be used for coaching and maximizing participant efficiency and potential.
Bloemen himself can be stoked to be on the forefront of latest know-how and new cost strategies.

I’m very excited to be the primary ever #Crypto Sponsored Athlete. Thanks @CEEK #VirtualReality and @Ong_Social for being on the forefront of know-how and this nice achievement. Looking ahead to an ideal relationship and the thrilling occasions forward. pic.twitter.com/mCHbNzkKW8
— Ted-Jan Bloemen (@TedJan) January 31, 2018

It’s price noting that Bloemen isn’t solely paid by the businesses in cryptocurrency, nonetheless. He additionally obtained some money, explaining:
For me, the true danger of not getting something will not be there, as a result of I acquired a little bit (money) out of it already. And that mixture makes this sponsorship actually enjoyable, proper. Because we’re going to assist one another. I’m making an attempt to get them a little bit extra publicity to make them succeed, and that may assist all of us, proper.
According to CoinMarketCap, onG.social (ONG) has a complete market cap of $6,322,255 on the time of this writing.
Like the cryptocurrency market, Bloemen isn’t any stranger to controversy. After breaking Sven Kramer’s 10-year-old 5,000m world file by 1.5 seconds, Bloemen notoriously smashed the sector’s label displaying his former teammate’s title and time.
Do you suppose Bloemen is on the forefront of a complete new frontier of athletic sponsorships, or is his take care of onG.social and CEEK VR little greater than a publicity stunt? Let us know within the feedback beneath!

Images courtesy of Shutterstock, Twitter, and Bitcoinist archives
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O Canada! Here’s Why This Just-Launched Blockchain ETF Isn’t Concerned About Weak Crypto Prices

O Canada! Here’s Why This Just-Launched Blockchain ETF Isn’t Concerned About Weak Crypto Prices

Canada’s Harvest Portfolios Group Inc. simply launched their Blockchain Technologies ETF regardless of weak market sentiment.

When equities markets pull again and sentiment weakens, we regularly see firms that deliberate to conduct an preliminary public providing (IPO) delay their providing in favor of ready for a restoration and an elevated (or, maybe extra precisely, improved) market sentiment.
Improved sentiment usually leads to elevated participation which, finally, interprets to a better IPO value and a better market capitalization and funds raised for the corporate that’s looking for public backing.
The identical is true for fund launches, based mostly on precisely the identical idea.
This week, nonetheless, a Canadian exchange-traded fund (ETF) has launched within the cryptocurrency house towards the backdrop of considerably weakened sentiment, very a lot going towards the grain of delaying in anticipation of future positivity.

A Look At The Fund
The fund in query is Harvest Portfolios Group Inc.’s Blockchain Technologies ETF and, as of Wednesday, it now trades on the Toronto Stock alternate underneath the ticker HBLK.
The fund is the fourth one to launch on a serious alternate, with the opposite three being BLOK, BLCN, and KOIN.
For anyone unfamiliar with the idea of an ETF, it’s a kind of funding fund that’s traded on a inventory alternate and that’s designed to signify (that’s, its value is designed to replicate) the mixed value of a basket of underlying property.
For HBLK, the basket of underlying property contains the shares of publicly traded firms which have some hyperlink to the bitcoin, cryptocurrency or blockchain areas and, at launch, these firms embody Hive Blockchain Technologies Ltd., Overstock.com Inc., BTL Group Ltd., and BIG Blockchain Intelligence Group Inc.
The concept is that merchants and traders can achieve entry to what quantities to a diversified portfolio of firms inside a particular sector with out having to purchase shares in every particular person firm individually.
In flip, the worth of a holding in a blockchain ETF ought to rise if the worth of the business’s element entities rises and, conversely, ought to fall within the reverse state of affairs.

The Advantage Of Launching Now
This, maybe, explains why Harvest Portfolios Group was wanting to launch its ETF this week, whereas sentiment stays low. With the costs of lots of the firms that make up the ETF’s portfolio at the moment depressed, merchants and traders are in search of methods to purchase up low-cost shares. By launching now versus ready till costs get well, HBLK is providing these merchants and traders a route by way of which they can do precisely that.
Do you employ ETFs as a blockchain funding automobile? Is launching whereas sentiment is weak a sensible transfer? Let us know under!

Image and media courtesy of Harvest Portfolios Group, Shutterstock
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Small Canadian Bank VersaBank Creating Private Safety Deposit Boxes for Crypto

Small Canadian Bank VersaBank Creating Private Safety Deposit Boxes for Crypto

With a BlackBerry cybersecurity professional on board, small Canadian financial institution VersaBank prepares to supply digital vaults for safe cryptocurrency storage.

Size Doesn’t Matter
VersaBank Inc. might not be the most important financial institution in Canada, however they’re trying to lead the cost in securing your cryptocurrency holdings. Based out of the town of London, Ontario, the financial institution plans to launch their digital vault by June, and clients from all around the globe are invited to open accounts.
CEO David Taylor advised Bloomberg’s Toronto workplace that wealth safety is quickly altering, stating:
We’re utilizing what banks are all about—security and safety—solely what we’re doing now could be saying that bodily field within the basement is getting out of date. Most individuals’s actually useful property are contained in some type of digital format, whether or not it’s a deed or a contract or a cryptocurrency.
VersaBank is at present Canada’s smallest financial institution by property however appears to provide the nation’s Big 6 a run for his or her cash.
VersaBank’s introduced plans come at a time when safe cryptocurrency storage is required, with large-scale hacks and crypto theft happening all too typically.

A Focus on Privacy
Like bodily security deposit packing containers, VersaBank’s appropriately-titled VersaVault can be completely personal. However, not solely will VersaBank not know the contents of the vault, they received’t be capable of open it. Explains Taylor to Bloomberg:
Our differentiator on this market is to be safe and tremendous personal. The financial institution wouldn’t have any form of again door to open up the vault, we’re simply offering the ability that people might put their digital keys in.
Security comes at a price, nevertheless, as Taylor claims their vault service can be costly, that means it’ll possible serve primarily massive, rich funds.

Neither First Nor Last
VersaBank isn’t the primary to supply storage for cryptocurrency and digital property. Palo Alto-based Xapo Inc. has been securing Bitcoin for shoppers for 4 years. Toronto’s valuable metals-focused firm Goldmoney additionally started storing Bitcoin in September. South Korea’s Shinhan Bank additionally has their very own Bitcoin vault beneath building.
Still, VersaBank is poised to steer the cost in storing digital property and cryptocurrency. “We’re a digital financial institution that has little or no human interface and serves as a warehouse for property and liabilities, and makes an excellent unfold within the center,” Taylor advised Bloomberg. “That’s banking in its essence.”
What do you concentrate on banks securing cryptocurrency in digital vaults? Are you curious about buying your personal digital security deposit field? Let us know within the feedback under!

Images courtesy of Pexels, Wikimedia Commons, Canadian Business Journal
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Canadian Regulator Wants Google to Ban ICO and Cryptocurrency Ads

Canadian Regulator Wants Google to Ban ICO and Cryptocurrency Ads

A Canadian regulator needs Google to observe Facebook by banning cryptocurrency adverts, in addition to adverts for ICOs and binary choices.

If there’s one reflex you’ll be able to routinely assume from a authorities entity when confronted with one thing new, it’s the moment urge to ban. It’s blatantly apparent that the majority governments aren’t followers of cryptocurrencies. While some need to enact some type of regulation, others need to extra stringent means. A senior investigator with the Manitoba Securities Commission in Canada, Jason Roy, is asking Google to observe in Facebook’s steps and ban cryptocurrency adverts, in addition to promoting for ICOs and binary choices.

When in Doubt, Ban!
Jason Roy is tickled pink with the choice by Facebook to ban adverts for cryptocurrencies and ICOs. He notes that the FBI and Canada’s Binary Options Task Force lobbied Facebook arduous to enact a ban. Roy gloats:
We’re very happy with Facebook’s resolution. My hope is that Google will enact an analogous coverage, the place they particularly identify merchandise like binary choices, ICOs and cryptocurrencies.
However, Google says that they have already got a ban in place that they implement towards deceptive adverts and misrepresentation. Yet Roy and different regulators word that you may simply discover adverts from numerous crypto-related companies when doing a Google search. It appears that of their eyes, any advert related to cryptocurrency is preying upon the weak and ill-informed.
Crazy About Binary Options
A specific focus by Roy and different regulators is the presence of binary choices, which are sometimes known as all-or-nothing choices. It is true that this sector of the trade is stricken by frauds and crooks, and Israel and various different nations has banned them fully. But it appears the authorities are lumping all the cryptocurrency companies collectively.

When Roy appears at cryptocurrency adverts circulating on the web, he sees an ominous sample. He says:
You have the previous binary choices corporations which have made the change to providing cryptocurrencies, and it’s mainly the binary choices rip-off 2.0. Then you could have fraudulent and unregistered ICOs which can be focusing on individuals. And then you could have cryptocurrency Ponzi schemes or multi-level-marketing schemes.
Roy says that the explosion of the cryptocurrency market is complicated. He states:
I believe everyone is making an attempt to figure out what’s occurring. There’s simply been an explosion of various ICOs and new tokens and loopy choices. You’re seeing ICOs which can be elevating giant quantities of cash and there’s nothing behind them in sure instances, however members of the general public are so hyped they’re throwing cash at them.
Google Making Bank
There is a monetary motive for Google to not go all banhammer on cryptocurrency adverts. A pay-per-click professional advised the Times of Israel that Facebook solely accounted for 15-20% of the paid-click promoting budgets by corporations. The largest recipient of promoting from crypto corporations is Google.

The “professional” says that scammers are prepared to pay prime greenback for advert clicks so as to keep on prime of any searches. He notes that a respectable firm will spend as much as a greenback or two per click on, however scammers are fairly glad to go as much as a whopping $100. The purpose for such an expenditure is that the common quantity spent by somebody suckered by the scammers is between $1,500 to $2,000. He notes:
That’s their technique. If they must pay $400 to Google to get 5 clicks after which one in all them converts (makes an preliminary deposit), that’s a money-making enterprise.
Google denies that such a scheme will work. It is noteworthy that the regulators and “professional” don’t have a agency greenback quantity on how a lot cryptocurrency promoting income the search large takes in. It’s most likely a reasonably good quantity however an total tiny sliver of their total cash stream.
Overall, evidently regulators see nothing however sinister shadows and vile villains when wanting on the crypto world. It’ll be fascinating to see how a lot stress they attempt to placed on Google. Personally, it will not be stunning to see Google capitulate to the regulators’ calls for. They’ve agreed to self-censorship earlier than with totalitarian nations.
Do you suppose the regulators are going overboard by wanting such a ban by Google? Will the search engine large comply with such a factor? Let us know within the feedback under.

Images courtesy of Pixabay, Pexels, and Bitcoinist archives.
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Canada Gives the Greenlight to First Blockchain ETF

Canada Gives the Greenlight to First Blockchain ETF

Following the approval of Canada’s first blockchain ETF (exchange-traded fund), firms are wanting to launch their very own blockchain ETFs, effectively conscious that the revolutionary know-how is “right here to remain.”

Leading the Charge
Harvest Portfolios’ plan to launch Canada’s first blockchain exchange-traded fund (ETF) has formally been greenlit.
The Ontario Securities Commission has authorised of Harvest Portfolios’ plan to launch the nation’s first blockchain ETF, appropriately titled Blockchain Technologies ETF. The new enterprise will carry the HBLK ticker, in addition to a administration price of 0.65 %.

The cryptocurrency-friendly nation’s first blockchain ETF is about to reflect the efficiency of the Harvest Blockchain Technologies Index, which tracks the efficiency of issuers throughout the blockchain business, with a deal with North American publicity.
You will discover the fund buying and selling subsequent week on the Toronto Stock Exchange.
First, however Not Last
Harvest Portfolios isn’t the one firm seeking to become involved in blockchain exchange-traded funds.
Both First Trust Portfolios Canada and Evolve Funds Group Inc. need to get in on the motion, having already offered their preliminary prospectuses with Canadian regulators earlier this week.
Karl Cheong, head of ETFs for First Trust Portfolios Canada, thinks blockchain know-how is undoubtedly the longer term—regardless of Bitcoin’s dramatic drop in value this week—telling The Globe and Mail:
Every dialog we’re having with purchasers—regardless if we’re speaking a couple of Canadian equities product or a U.S fairness product—inevitability results in [a discussion about] blockchain or bitcoin[…]The idea of blockchain may be very engaging to traders proper now, and whereas the thought continues to be very novel, the analysis exhibits that it is a know-how that might probably save billions of in value, and that’s very engaging.
First Trust, which already has a U.S. blockchain ETF buying and selling beneath the LEGR ticker, plans on launching the First Trust Indxx Innovative Transaction & Process ETF, which is able to carry the BLCK ticker. If all goes effectively, BLCK can be up and operating very quickly and can carry a administration price of 0.80 %.

Evolve Funds can be within the race to get their ticker on buying and selling screens, in an try to be the nation’s first actively-managed blockchain fund.
Raj Lala, president and chief govt officer of Evolve, can be excited concerning the blockchain’s revolutionary potential, stating:
Blockchain know-how is poised to disrupt nearly each enterprise and business, together with monetary providers, actual property, well being care and authorities. Currently, on the base of each digital forex, many examine blockchain to the second coming of the Internet. I consider we’re Canada’s first actively-managed blockchain ETF, which is able to permit us to be nimble and probably capitalize on rising alternatives.
LINK’s administration price can be 0.75 %.
Horizons ETFs Management (Canada) Inc. is yet one more firm well-aware of blockchain’s constructive financial potential.
Having already launched Canada’s first marijuana ETF, Horizons can be seeking to get in on the blockchain buying and selling recreation, which co-CEO and President Steve Hawkins says is “right here to remain.” He then provides:
There are lots of profitable firms on this sector, comparable to Canadian firm HIVE. If you’ll be able to’t spend money on cryptocurrencies instantly—and we all know that they’re right here to remain and blockchain is right here to remain—why not spend money on the businesses themselves instantly as a result of there may be going to be a future for them.
What are your ideas on Canada’s race to get blockchain exchange-traded funds on exchanges? Are you curious about investing in blockchain know-how by way of ETFs? Let us know within the feedback beneath!

Images courtesy of Pixabay and Bitcoinist archives.
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