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ModulTrade, one of the first blockchain projects in the trade finance sector, comes to market with a new digital trade concept, to allow small businesses from around the world to trade efficiently, securely, and with ease. A smart-contract based Eco-system, ModulTrade will provide micro, small and medium enterprises (MSME’s) with a comprehensive range of services, minimize traditional charges and support cross-border trade with emerging markets.
While mainstream institutions have rested, the London based company has identified the struggles and barriers MSME’s face with the current banking system, and have undertaken the first steps in laying down the foundations to utilize blockchain technology to build a robust Eco-system that is fit for purpose.
ModulTrade’s proposition leads the way in using blockchain technology, famously known for supporting the creation of digital currencies, to its full potential, and applies the ground-breaking lesson of the distributed ledger to trade, leaping over legacy systems and operations.
Within the ModulTrade Value Eco-system, millions of MSME’s will be connected to meet, commit and execute trades. Businesses will be matched with suppliers, with funds and reputation verified and clear trade ledgers, as goods are tracked to the point of delivery. As a result, building trust and transparency, all the while expanding their reach further than currently possible, widening MSME’s status from local to global.
A disruptor in the market, the innovative core of ModulTrade’s proposition will democratize global trade by connecting the heart of blockchain technology to real life trade transactions, diminishing the lengthy letters of credit process, which often results in the end of the trade cycle for many MSME’s. With decisions made automatically through its’ smart-contract technology, ModulTrade’s Value Eco-system will completely streamline the full trade process, saving time and money.
Combining the development of ModulTrade’s Value Eco-system with the launch of the new ModulTrade crypto token (MTRc) will provide the golden ticket to buy and exchange directly within the platform. Architected on Ethereum and complying with the widely-accepted ERC-20 token standard, users of ModulTrade will be able to exchange value in real-time. MTRc will also be compatible with all ether wallets and can be easily added to common crypto-exchanges for trading.
With an average of 20 years of experience in financial trade, the ModulTrade team have joined forces to revolutionise the industry, with a shared passion to re-invent the way MSME’s operate and trade. On the concept, Evgeny Kaplin, ModulTrade CEO, commented: “We are passionate about giving all businesses, no matter their size or location, the same opportunities to build, develop and grow their companies akin to big corporations.
Our proposition aims to increase accessibility and minimise costs, and with smart-contracts and blockchain, we can mimic traditional banking systems, but at a transaction fee of as little as 1%; compared to current charges at 4-15%. Through our token sale, we want to empower MSME’s and with the support of participants, we hope to make the ModulTrade concept a reality.”
ModulTrade rises above others by creating opportunities for not just users of the eco-system, but also added benefit to the ongoing development of the technology and provides a networking platform for service providers.
The launch of ModulTrade’s token sale provides a means to scale out the current beta pilot and go global with a message of transformation and opportunity for all businesses, whatever the size, wherever the location.
For more information, visit https://modultrade.io/. ModulTrade pre-sale started from 03 October 12:00pm CET. Main sale date will be announced.
MTRc’s are tokens in ModulTrade’s blockchain-based platform and value eco-system.
They are not refundable, nor are they securities, or for speculation. There is no promise of future performance. There is no suggestion or promise that MTRc has or will hold a particular value. MTRc’s give no rights in the company and do not represent participation in the company. MTRc’s are sold as a functional utility. Any value received by company may be spent without conditions. MTRc’s are meant only for experts in cryptographic tokens and blockchain-based software systems.
ABOUT MODULTRADE’S TOKEN SALE
Token Symbol: MTRc
Pre-sale price: 1MTRc = 1ETH/700
Token sale price: will be not less than 1MTRc = 1ETH/700 and determined 2 weeks prior to main
There will be a limited supply of 100 million MTRc in total. 40% will be distributed during Pre-Sale and Token Sale
● up to 10,000,000 MTRc will be distributed during a Pre-Sale
● up to 30,000,000 MTRc will be distributed during a Token Sale
Unsold MTRc tokens offered for sale will be destroyed and no more distributed after the Token Sale ends.
Pre-sale started on October 03, 2017
Token Sale starts in November, 2017
Soft cap 15’000ETH
Hard cap to be announced 2 weeks prior the Token Sale
ETH & BTC & Fiat currencies
Discount # of tokens to be sold
Pre-sale 40% 10,000,000
Token sale Phase 1 25% 6,000,000
Phase 2 15% 7,000,000
Phase 3 10% 8,000,000
Phase 4 0% 9,000,000
+5% discount for the amount from 100 ETH
+10% discount for the amount from 1’000 ETH
Distribution MTRc tokens will be distributed in the following way:
40% (Pre-sale-10%, Token sale 30%); Post Sale: Product development 20%; Ecosystem creation 22%; Team 15% (5% will be distributed within 6 months after the Token sale is finished, 5% will be released after the 1st year, 5%- after the 2nd year); Advisory 3%.
Token purchase During Pre-sale purchases can be executed
● in ETH & BTC through ModulTrade website https://modultrade.io (ONLY);
● in fiat currencies (min USD50k) via separate Token Pre-Sale Agreement.
ABOUT MODULTRADE’S GOVERNANCE
ModulTrade takes the safeguarding of all participants in the token sale seriously. Security is one of ModulTrade’s core principles, with the team taking several steps to provide the best possible governance of the token sale and protection of the platform technology. ModulTrade is working with professional and experienced financial consultants, applying best practice procedures to ensure a structured token sale. All steps have been taken to protect the participant, through implementing independent audits, validation of the ModulTrade proposition and a secure wallet controlled and protected by an independent qualified entity.
Understanding the risks of cyber hacks, ModulTrade is enforcing full cyber security across all ModulTrade online channels. An independent auditor has been recruited to ensure protection and participants funds are not jeopardised. In the event of a security breach, ModulTrade, with the help of cyber security experts and communications team, will inform participants of such and provide clear instructions.
This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.Continue Reading
Wirex, a London-headquartered company providing personal banking and financial services to bitcoin users, has announced plans to support Dash, enabling customers to pay with the cryptocurrency online and in-store. The integration means that Wirex plastic and virtual card holders will be able to fund their accounts with Dash, link their Dash wallet, and use the […]
This post Crypto Finance Platform Wirex To Add Support For Dash first appeared on Coinjournal.Continue Reading
The chairman of the Securities and Exchange commission offered new remarks on the topic of ICOs earlier today.Continue Reading
Police in Finland have moved into a new stage in their ongoing investigation into to the OneCoin cryptocurrency scheme.Continue Reading
In its “Distributed Ledger Technology: Beyond Block Chain” report published in 2016, the U.K. Government Office for Science deemed the impact of blockchain and other distributed ledger technologies (DLTs) “probably as significant” as foundational events such as the creation of the Magna Carta and the steam engine.
In the real estate market, the introduction of blockchain technology will have a similarly significant impact, making transactions more transparent, more efficient and more accessible.
What Can the Blockchain Bring to the Real Estate Market?
Distributed ledger technologies would prove useful in almost all types of real estate activities, including money transfers, property registration and the conclusion of agreements.
Purchasing property using cryptocurrency and without intermediaries such as banks is already happening. For instance, in 2014, houses in Bali and Kansas, each over $500,000 in value, as well as a house in California ($1.6 million), were sold for bitcoins. In the near future, the blockchain would be used not only in terms of payment in cryptocurrency, but also for transferring conventional (fiat) money and national digital currencies issued by central banks.
Property, Transaction and Title Ledgers
Information on real estate, transactions, title registration, property encumbrances and their condition can be entered into distributed ledgers that are accessible online and through mobile apps. Several countries have already launched pilot projects to test such systems. For instance, Sweden has been evaluating the potential of using blockchain technology in managing its land registry since 2016.
Each property would have its own blockchain ID with all its technical characteristics specified. Among other things, this would make property appraisal easier and quicker, as each transaction currently requires correspondent documents to be ordered anew and these Bureau of Technical Inventory (BTI) certificates are not always trustworthy. It is also likely for that there will be portals and MLS databases with properties that have blockchain IDs.
Smart contracts are transactions and other agreements concluded entirely digitally whose execution (i.e. transfer of ownership) is guaranteed by computer protocols with no human involvement. The same protocols automatically check the transaction possibility and legitimacy; they will not allow the agreement to be concluded if its terms do not meet established standards.
The idea of smart contracts dates back to the 1990s, but blockchain and similar technologies can make smart contracts safer and more reliable. Property sales and rental transactions can be realized through such contracts. In September 2016, Deloitte announced the launch of a pilot project for registering rental transactions via the blockchain in association with the City of Rotterdam and the Cambridge Innovation Center.
Escrow accounts are often used in buying and leasing real estate. For instance many landlords in the United States require their tenants to place a rental deposit in an escrow account, from which the money cannot be withdrawn without the landlord’s permission.
Today, escrow accounts are primarily held by notaries and banks, but distributed ledgers can change the situation. For instance, buyers can place their money in a blockchain escrow account. After commissioning the new build and the buyer getting the right of ownership, the money would automatically be released to the developer via a smart contract.
Owners of flats in apartment buildings often make decisions affecting shared infrastructure, such as major repairs or works on common areas, by voting. Distributed ledger technologies would guarantee reliable remote voting and give owners the certainty that their votes have been registered correctly. The blockchain would also prove useful in other situations, such as when real estate decisions are made by voting, for instance, in unitholder or stockholder voting.
Practical Benefits of Distributed Ledgers
With the adoption of the blockchain and other distributed ledger technologies, real estate activities would become easier, quicker and cheaper. The market would also be rid of unnecessary intermediaries, becoming safer, more transparent and, consequently, more liquid.
Lower Transaction Costs
According to British bank Barclays, the world’s first trade using blockchain technology took place in September 2016, when Barclays, Israeli startup Wave and Irish dairy producer Ornua carried out a $100,000 letter of credit transaction as collateral for exporting a parcel of Ornua cheese and butter to the Seychelles Trading Company. The transaction was completed in less than four hours instead of the 7 to 10 days it usually takes because of long document processing times.
Instead of weeks and months, the time needed for paperwork to close real estate transactions would be reduced to hours or even minutes. Cross-border fund transfers and conversions would be quicker and cheaper, and technical operating costs related to the transfer of ownership would be reduced. Transactions would also become cheaper. For instance, there would be no need to pay a notary or transaction registration fee, which now account for 1 percent to 2 percent of the property price.
To falsify an existing distributed ledger entry, one would need to hack every computer on which a copy of the ledger is stored, and this number can be enormous (e.g. the number of bitcoin users is estimated at several million). The entries cannot be deleted or modified post factum, which significantly reduces the opportunities for fraud and embezzlement.
Transparency and Liquidity
Using open blockchain-based ledgers, sellers and buyers would gain customisable access to all documents related to a transaction and be able to check the accuracy and authenticity of every one of them. This increase in transparency and liquidity would make real estate a more liquid investment vehicle and may lead to a stronger capital inflow.
Smart contracts may also stimulate the development of collective investments as they provide almost infinite opportunities for structuring property and investment project rights, which enable the construction of different crowdfunding formats. In addition, the active development of collective cross-border investments would be strengthened by voting mechanisms using blockchain-based identification, the reduction of capital structuring and transaction costs and the absence of governmental restrictions on the withdrawal of funds.
For example, Tranio is working on a crowdfunding project that will enable crypto capital owners to enter into club transactions along with conventional clients. Private investors will be able to realise the strategies of capital maintenance and earning on real estate, avoiding banks and their commissions by using the blockchain to conclude agreements, transfer money and, consequently, receive higher incomes.
Problems With the Blockchain and Digital Currencies
The distributed ledger industry is still at the start of its development, and its implementation in the real estate market is still problematic.
Absence of Regulation
The capabilities of the technology are ahead of governmental regulation, and no legal framework has yet been created to regulate the implementation of blockchain technology. Many advantages of distributed ledgers will only be able to materialize as soon as there is such a framework in place allowing for the defense of smart contracts and other blockchain operations in court.
High Costs of Converting Conventional (Fiat) Capital to Cryptocurrency and Vice Versa
The commissions charged on transferring to Mastercard or Visa range between 0.5 percent and 5 percent. This issue is likely to be resolved over time. However, this is likely to shrink over time. Several startups are already claiming they will be able to reduce the commission to zero.
Know-Your-Customer (KYC) Requirements
Crypto-capital owners are likely to be subject to standard, source of funds verification procedures, which are technically difficult to accomplish today. Banks, obliged to check the origin of funds by law, are not ready to work with cryptocurrency owners yet.
In the case of collective investments, the absence of bank regulation and compliance potentially allows developers and any fund recipients to collect money at a lower cost and not to be bound by obligations. However, this presents risks, in particular, dishonest developers.
The high volatility of cryptocurrencies would restrain investment in the real estate market for some time: development projects in good locations yield about 15 percent per annum (and rental projects yield even less — about 5 percent on average), while Bitcoin exchange rates surge by 100 to 200 percent over small periods of time.
At the same time, the constant growth leads to cryptocurrencies losing their stability, an important payment instrument characteristic. They begin to look something like stocks of a rapidly growing company. Few might want to sell stocks that rise in price today if tomorrow they are likely to rise even more.
However, in my opinion, some people earning on cryptocurrencies would soon want to partly invest their capital in a simpler, more real and reliable vehicle: real estate. This is the nature of human psychology. Those people who earn on growing markets want to invest some part of their money in more stable assets and vice versa.
Eventually, lower regulatory barriers and lower transaction costs will enable crypto capital to become a powerful driver for cross-border real estate investment transactions, allowing investors to increase their yields. Successful startups would then be able to compete with established real estate funds.
According to forecasts by consulting company Accenture, in 2018–2024, the blockchain will span many different types of assets, and by 2025 it will be a mass phenomenon and an indispensable part of global capital flows.
“It is already clear that, within this revolution, the advent of distributed ledger technologies is starting to disrupt many of the existing ways of doing business”, the company said in its report for the UK Government Office for Science.
This advent will surely result in positive transformations not only in the real estate market but in all sectors of the economy.
The post Op Ed: How the Blockchain and Distributed Ledgers Will Transform the Real Estate Market appeared first on Bitcoin Magazine.Continue Reading
In the past bitcoiners could purchase a machine called the “Ghost Gunner 2,” from a Texas company called Defense Distributed (DD) led by crypto-anarchist Cody Wilson. A Ghost Gun is a firearm that is built or modified without serial numbers and the company’s product makes untraceable AR-15 rifle parts. Now, this week Wilson has announced the Ghost Gunner 2 has implemented new software that can mill an aluminum frame of an M1911 handgun.
For Less Than Half a Bitcoin Individuals Can Now Make Untraceable 3D Printed AR-15 and M1911 Aluminum Frames
Cody Wilson is a well-known individual among cypherpunks and the bitcoin ‘community.’ Wilson’s name is notorious for creating the first working handheld 3D printed gun called the “Liberator.” The Liberator’s blueprints were downloaded 100,000 times in just two days after the U.S. government gave his business some troubles. Wilson is also popular among bitcoiners for working with former bitcoin developer and anarchist, Amir Taaki, on a privacy-centric bitcoin client called Dark Wallet. The DD founder is labeled as one of “the most dangerous men in the United States” by mainstream media, and has been discussing the new launch with many news outlets. Wilson appeared on the radio broadcast the Crypto Show last night and told listeners that the DD business was doing well, and gave insight towards the creation of the new M1911 handgun software.
Bitcoin Accounts for 10 Percent of the Ghost Gunner Revenue
The M1911 semiautomatic pistols can also be made into other handgun models that have similar structures; like the Colt 45. In the future, Wilson details the company plans to create a broad range of untraceable pistol models. Defense Distributed has sold over 4,000 Ghost Gunners and the milling machine itself and its unique parts can be purchased with bitcoin. Wilson details the business gets about 10 percent of its revenue in bitcoin. The Atlanta-based firm Bitpay processes the bitcoin payments for the company and Wilson has revealed that as the price of bitcoin rises people are purchasing more DD products.
During the weekend launch of the new Ghost Gunner 2 software Wilson told the publication Wired that the gun making machine brings the cypherpunk movement to a whole new level.
“The whole cypherpunk attitude of total gun privacy is more coherent in this smaller package — Now you can have a private 1911 or a private Glock, and it’s at the level of automated manufacturing,” explains the DD founder.
Taking Crypto-Anarchy to a Whole New Level
Additionally, during the Sunday night Crypto Show broadcast, Wilson explains why he created the new handgun software. The DD founder says not everyone wants an AR-15 rifle because it’s a pretty big gun. With the new software, clients can make a private 1911 with ease just like the larger assault rifle. However, Wilson explains to the Crypto Show hosts that building the company’s Ghost Gunner products is no easy task. There are other company’s that have tried to create 3D printed gun mills, but Wilson explains DD’s quality is above the rest. The company is also not the first organization to make a 3D printed M1911 pistol made of metal as the company, Solid Concepts, demonstrated the concept back in 2013.
Wilson is pleased with his company’s 3D-printed pistol milling machines, and tells Ars Technica that handguns are a big part of the project. “A lot of our 3D-printed work reaches its apex when you can make handguns,” Wilson tells the publication. “Handguns are the essence of this project, so, when you can give people the means to make them, it’s the refinement of the project.”
“It’s basically announcing the completion of the initial Ghost Gunner project — now it’s a machine that can make pistols for people — We got there.
What do you think about Cody Wilson and Defense Distributed? How do you feel about software that creates 3D printed untraceable M1911 handguns? Let us know in the comments below.
Images via Youtube, Wired, and Defense Distributed.
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