Bitcoin Price in India Surpasses International Market Rate

Increasing local demand in the face of limited supply has prompted Bitcoin price to reach an all-time high on Indian exchanges – nearly 15-percent the going rate in global markets.

According to the statistics available on BitcoinRates.in, the current daily average Bitcoin buying and selling rate on all Indian exchanges are ₹ 834,812.90 (~ $12,951.87) and ₹ 820,489.20 (~ $12,729.64). In the international markets, the rate for the same Bitcoin unit is $11,246.

The event has two outcomes: good and bad. The good outcome is for the people who are accepting Bitcoins for goods and services from international clients. Due to the huge gap between the global and local rates, people can practically receive more money than they had invoiced. The flip side is for the locals who have no other mean to obtain Bitcoins than to buy it directly from the exchange – at skyrocketing prices.

Nonetheless, the demand for Bitcoin is increasing. ZebPay, one of India’s leading Bitcoin exchanges, has confirmed the surge by issuing an update on their support services. It reads:

“In the last two weeks, there’s been an unprecedented surge in new users. This has also led to a surge in calls and support tickets that we are getting. This is far higher than the capacity we had anticipated.”

[Author’s Note: ZebPay is successfully clearing the backlogs and the reference to their update is only to prove Bitcoin’s increasing demand in India.]

During the November 2016’s demonetization drive initiated by India’s Prime Minister Narendra Modi, Bitcoin price on Indian exchanges had similarly surpassed the global rates. Reason: Due to local laws, crypto-exchanges in India buy and sell Bitcoins only from Indian users. So, if demand increases, these exchanges cannot buy Bitcoins from international exchanges at cheaper rates.

In a similar event this year, the price of Bitcoin had touched $15,000 on a Zimbabwean exchange amidst a political turmoil and a feared coup.

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After establishing an all-time high near 11,300-fiat mark, Bitcoin price ditched the uptrend and fell towards lower 9000s on Wednesday night.

It is not a normal price action, to be honest. But going by the history of Bitcoin market, the aforementioned relapse doesn’t surprise. Bitcoin has always expressed exaggerated upside-downside price actions in the past, but the trend overall has remained bullish.

Only this year, the price of Bitcoin has jumped 858%. Many Wall Street professionals have refuted Bitcoin’s meteoric rise by calling it as a “bubble”. Other financial academics have also discouraged Bitcoin by comparing it to 1990s dot-com bubble, some even claiming that the BTC price will hit $0.

At the same time, there are also finance celebs like David Shrier (Distilled Analytics) and Iqbal Gandham (eToro) who favor Bitcoin for its underlying technology and think that the digital currency is here to stay.

“While the price volatility in Bitcoin leads some commentators to assume we’re in a Bitcoin bubble, the reality is that emerging technologies carrying radically new ideas will always see swings in their value before their potential is fully realized and the price stabilizes.” – Gandham told CNBC.

For now, the BTC/USD pair is eyeing 9500-fiat as an immediate support. Failing to sustain it will push the price action towards 9000-fiat. In the event of a bounce back, 10,000-fiat appears to be a natural upside target under more controlled circumstances.

Other cryptocurrencies, including Ethereum and Litecoin, have also fallen hard after setting their all-time highs above $500 and $100, respectively.

Blockchain-based real estate platform Prime-Ex Perpetual is going to launch the token sale of its institutionalized tokens on November 15th, 2017.

PEX-Tokens will be available to be purchased from Prime-Ex Perpetual’s official website at the rate of $1.00 USD-equivalent per unit. Prime-Ex Perpetual has already sold over 3 million PEX-Tokens in a pre-ICO round. It started on November 1, 2017, and ended on November 8, 2017.  Prime-Ex Perpetual has secured its minimum targets of the campaign.

With a successful pre-ICO round behind, the next ICO round could be even more successful. In it, Prime-Ex Perpetual will issue a total of roughly 22 million PEX-Tokens for public sale.  This is a terrific opportunity to purchase PEX-Tokens ahead of its distribution to the DEX Exchange near the beginning of December.

The raised funds are building residential real estate in Panama that will prove to be the backbone of Prime-Ex Perpetual’s ecosystem in the future. To those who are unaware of this ecosystem, it is a tokenized system that allows expats to purchase residential properties with simple financing and mortgage payment options. Here, PEX-Tokens will prove to be this economy’s centerpiece, allowing easy and quick payment settlements, while incentivizing homebuyers at the same time.

For holders, PEX-Tokens will also prove to be an investment option as they will keep earning 80% of the company’s audited net profit every year.

Prime-Ex Perpetual’s CEO, John Gilbert, stated:

“Crossing over the 2,500,000 PEX-Token thresholds for token sales was a major achievement for us. We are eager to get out there and begin building the homes today that will be the backbone of our ecosystem tomorrow. Prime-Ex Perpetual will now start implementing its unique residential real estate ecosystem and breaking ground on the first houses in Panama.”

You may learn more about Prime-Ex Perpetual at https://prime-ex.com and participate in their ICO at https://ico.prime-ex.com.

After a week of scheduling and rescheduling, NewsBTC finally sat across with Vladimir Smerkis, the co-founder of Tokenbox, and discussed the future of tokenized funds in the new age markets. As the conversation matured, Vladimir opened up about the practicality, as well as the legal structure around the tokenized fund market. He also elaborated Tokenbox in a nutshell. Here are some of the key excerpts from our interview:

Yashu Gola: Before we begin, could you tell us a bit about your professional background?

Vladimir Smerkis: I was deeply into the digital marketing when I worked as a VP of international development at MailRu Group. Mail.ru is a large company, albeit innovative. Nonetheless, I felt that my own potential goes way beyond a corporate structure. After launching MyCom, I left to become an entrepreneur. I couldn’t help but notice the way blockchain and bitcoin were affecting the digital scene. I observed it for a while, but it was surely the next logical step to try and enter that market. That is how I and my partner got to the idea of The Token Fund. Later it raised even further into the Tokenbox.io platform.

What prompted you to launch Tokenbox, exactly?

In March 2017, we launched The Token Fund, one of the first coin-traded funds on the market. The model proved successful, fast. Hedge funds and investors worldwide,from Switzerland to Kazakhstan began reaching out, asking to white-label the system for use on their local markets.

The feedback got us thinking. As opposed to licensing the software out to foreign investors and institutions, why not just build a turnkey platform for international users? That is exactly what we are doing.

But you’re not exactly the first one to propose a tokenized fund. How is your platform different from others?

There are certain projects that already exist. What we need to work on is the legal functionality, like creating entities that will enable issuing sub-licenses to traders and funds that want to use the platform, this is what people’s been asking quite a lot for. And in the end, tarting up the UI of it all. We’re aimed to become a cross-platform solution that works on all operating systems and all phones.

TBX advantage is a combination of those 4 put together:

  • Legal transparency and KYC

  • New trading terminal for a perfectly balanced portfolio

  • Market liquidity solution

  • Fund’s tokenization

Could you give us a quick overview of the tools Tokenbox offers?

Tokenbox is an ecosystem aiming to solve all these current crypto market issues and insecurities at one place.

Traders and funds will be tokenized through the system’s web interface and  be legalized through the system’s umbrella license. They will then gain access to a large community of already Know-Your-Customer, or  KYC,  authorized investors. Meanwhile, for their part, investors will get access to a wide range of funds and traders, which have already gone through all the Tokenbox’s strict due-diligence procedures. Some of the key features of our platform include: Access to umbrella fund; KYC/AML Compliance; Mutual Settlements; Greater Liquidity; Software for investment management;  Access to the market of ICO-campaigns; Marketing support; Rating System; Secure, integrated gateway to the fiat banking system; Multi-currency wallet; Multi-level security; Client protection; Advisory service; amongst many others.

How do you propose to tackle the regulatory challenges, as you expand? How do you ensure that the funds you are working with are legally-compliant?

There is of course the issue of legality: it’s hard to legalize them completely. We’re planning to solve this problem by registering an umbrella fund that will sublicense to other funds and individual traders. Traders and other funds that want in will have to pass KYC verifications etc., so it’s not going to be like eToro where anyone can start their own fund or become a trader on the system. Our approach solves this issue.

Now, on the tech side of things. It’s obvious that terminals like MetaTrader that are used in classic trading aren’t suitable for crypto-trading. There’s also the issue of liquidity. Crypto exchanges set rather tight input/output limits, even after KYC checks — can be as low as $25,000. When we’re talking about large players that want to be in this business, this amount is laughably tiny, and this is a real problem that we solve. Of course, there’s a global issue of fiat money input and banking transactions within the economy. We’re planning to solve that, too. So, we’re talking tech, legal issues, market liquidity, and tokenization.

In your opinion what is the current health of the global cryptocurrency system? Are there hidden stress points which have not been priced in by the markets?

Right now, the market is still is in its infancy. Some great minds have made great strides and people are making enormous returns on modest investments. But we need to look beyond individuals and build a system that the wider world can buy into. We can make new products and perfect the process, turning blockchain into a secure system that can adapt to property deals, banking and more. Blockchain has the potential to change the world on so many levels, and now it’s the time for big business to embrace it. We have to make that easy.

How does one join Tokenbox?

Now, prior to out TGE event to join the crowdsale go to tokenbox.io and click on “Join” button to subscribe.

Once the Alpha version is ready (Q2 2018) for investors it would be 4 easy steps: 1) KYC procedure; 2) Сreate a wallet on the platform; 3) Top-up; and 4) Choose the funds from our rating that matches your strategy and start investing.

ICORating, one of the leading blockchain startup rating agencies, has termed PlayKey’s decentralized cloud gaming platform as “Stable+” from the point of view of investing.

In their report, ICORating representatives noted that PlayKey’s tokens are ideal for medium term investments, thanks to their healthy hype and low risk status. They justified their reason for rewarding a favorable rating to PlayKey by stating,

“PlayKey already functioned for 2.5 years, so the team has enough experience. It should be noted that the team members have been working together for a long time, which we also highlight as one of the strengths of the project.”

The rating agency also noted that PlayKey will be working in a highly competitive environment, and would need quick reactions to new products from competitors, and almost instantaneous adjustment to customers’ desires. They termed competition as the only risk factor for PlayKey.

PlayKey Proves Competitive Advantage

PlayKey has differentiated itself from other decentralized gaming platforms, stating that they already have an infrastructure at place to meet their goals quickly. The platform cited its 100 NVIDIA-based servers that are serving over 2.5 million gamers globally as a strategic advantage over its competition. It also coupled the claim by proving strategic partnerships with some of the biggest names in the gaming sector, Ubisoft, Bethesda, and Wargaming being some of them.

“Remember, the Playkey technology will allow advanced games to be run from weak and outdated computers or laptops,” the company stated while explaining the longevity of its business model. “After the ICO the Playkey operating model changes and switches to a P2P-format where any owner of a powerful PC can offer his “hardware” in a lease with gamers that have weak computers.”

The ICO of PlayKey’s PKT tokens is already live.

Overall, a favorable rating from a reputed agency like ICORating (which has been noted by Forbes and TechCrunch for its comprehensive analytical approach), certainly creates a positive buzz for PlayKey.

Panama-based Prime-Ex Perpetual reports that their minimum raise goals are almost secure as their pre-sale winds down. “We’re sitting approximately 60,000 tokens away from our minimum raise goals this morning, and we expect to achieve our baseline objectives sometime today,” reports John Gilbert, CEO of Prime-Ex Perpetual. “We have through the 8th of November for our pre-sale, so those interested in buying PEX-Tokens should take advantage of this last chance to buy our tokens at a discount.”

Once their minimum raise goals are achieved Prime-Ex Perpetual says implementation of their residential real estate ecosystem and breaking ground on their first houses will begin immediateily. “First things first”, reports Gilbert. “We finish out strong with a great ICO, we get our PEX-Tokens distributed timely to our PEX-Token holders, and then we start putting flesh on the bones of our ecosystem. We’re thrilled to see our minimum goals within reach.”

Prime-Ex Perpetual will market their residential real estate to expats around the world who have traditionally had a hard time getting financed abroad though they enjoy the highest discretionary income of any group in the world. Prime-Ex Perpetual is creating a branded real estate ecosystem where expats can realize expectations of quality, value, and life experiences throughout the top expat destinations in the world.

Prime-Ex Perpetual’s real estate ecosystem has been tokenized, meaning that homebuyers will be incented to pay their mortgage payments in PEX-Tokens that they have to purchase from existing PEX-Token holders. Once 2,000 houses are sold inside of their worldwide ecosystem monthly token demand for PEX-Tokens will exceed each month the total supply of tokens that will ever be on the market. This organic demand inside of their own branded ecosystem makes Prime-Ex Perpetual a trailblazer in residential real estate, taking what’s good about REITs and creating a whole new asset class of value.

Prime-Ex Perpetual completes their pre-sale of PEX-Tokens on November 8th, while their ICO begins in earnest on November 15th and runs through the 30th. Gilbert reports that the marketing of homes begins in December. “We start are house marketing in December. If you think that Prime-Ex Perpetual has created buzz so far, just wait until token holders start receiving dividends. We can see the finish line and we’re ready to break out.”

The Saudi Arabian government has openly come out to say it is not considering regulating Bitcoin in the country. At a time when a lot of national governments are trying to hem the digital currency from growing, others are being careful not to get involved in regulating cryptocurrencies. However, there are those that want to be neutral on the issue. Saudi Arabia is one of those countries that want to be neutral as far as the issue is concerned.

Market is Not Mature to Regulate Bitcoin and ICOs

Recently, a top advisor of the Saudi Arabia Financial regulator informed CNBC Sunday, how the cryptocurrency market in Saudi Arabia is not mature enough in assessing the influence that these cryptocurrencies may have on the economy and regulation.

Another top advisor, Abdulmalik Al-Sheikh of the Saudi Arabian Monetary Agency (SAMA), noted how cryptocurrencies are not what SAMA as a body is focused on in regulating currently. According to him, it (cryptocurrency) is in its infant stage with trials and pilots everywhere. He didn’tconsider it as something strong in which there is anurgency to be part of at the moment. This comment came as a result of the FinTech event in Abu Dhabi.

He further highlighted how the country’s central bank is monitoring and measuring the impact of cryptocurrencies. For him, it could take additional five years before a real impact can be seen and the future operating model of the cryptocurrencies. According to him, key regulators are using the “wait and see approach” to initial coin offerings (ICOs). It is a medium for startups to acquire funds through a virtual coin issuing. Nevertheless, investors do not normally acquire equity stakes in a company when compared to those with an initial public offering (IPO). According to CoinSchedule, the industry’s website, this year alone, through the ICOs more than $3 billion has been raised.

Malik stated:

“For us it’s still not something that is traded and accepted globally, it’s something that is done and traded in different markets. As I mentioned before we are observing that and monitoring what’s happening and try to measure the risks associated.”

Throughout the world, regulators have taken diverse approaches to ICO regulation and cryptocurrency. For instance, of late China banned all outlawed ICOs and cryptocurrency exchanges. Besides China, South Korea also proscribed ICOs. However, Japan, on the other hand, gave allowance to companies in accepting Bitcoin as a means of payment. Recently, Abu Dhabi announced the plans of bringing ICOs under regulation.

By market capitalization, Bitcoin is the largest cryptocurrency and have achieved a new record high with huge price rally this year. Across the board, the interest in cryptocurrencies is on the rise, though there has also been criticism from some quarters. Recently, the CEO of Jamie Dimon, JP Morgan Chase called Bitcoin a scam.

The ongoing debate whether tokenized investments are good or bad for investors won’t die anytime soon, but that hasn’t stopped a blockchain-powered real estate project working its way up to prove the credibility and viability of intelligent, asset-backed ICOs.

Prime-Ex Perpetual, a Panama-based real estate company, recently appeared on a talk show hosted by prominent U.S. journalist and former market trader, Jane King. In an informative interview, the company’s CEO and co-founder, John Gilbert, and Director Theresa Schwark discussed their plans to tokenize the real estate industry and amazed the mainstream finance journalist with all of the innovation blockchain assets could bring.

The interview started with a formal introduction of the Prime-Ex Perpetual platform. Gilbert demonstrated how their company allows homebuyers to make payments using their institutionalized PEX-Tokens. Schwark added an explanatory layer to define the true purpose of having a tokenized real estate economy, stating that it simplifies the financing of real estate deals for Prime-Ex Perpetual’s clients.

The Prime-Ex Perpetual team went on explaining the benefits of their platform for homebuyers, especially for expats who are looking to buy American and European-style homes in Panama. Schwark mentioned Prime-Ex Perpetual’s first project, in which they will exhibit 100 homes — all available to be purchased using PEX tokens. She also introduced a very innovative buyback plan, in which expats can option their homes back to Prime-Ex Perpetual after two years of the date of purchase, a key feature of their flagship Revolution Loan.

“We just make it a lot easier for buyers to be able to move to Panama and live an expat lifestyle, without needing to deal with all the hurdles that are faced,” Schwark stated.

On being asked about the process to purchase homes in Panama using a tokenized real estate ecosystem, Gilbert took a turn to explain their streamlined protocol, stating that they are not worried about buyers’ credit scores or income proofs, but they are more focused on verifying assets.

“So you pay 25% down [payment], and for that, you get a modern American or European style home,” Gilbert added. “We would accept Bitcoin, Ethereum, Waves, US Dollars, Euro, Pound, and our own PEX-Token.”

“We incentivize our homebuyers to make their mortgage payments in PEX-Tokens. So, we give them an interest rate discount and that creates a beautiful organic demand for our PEX-Tokens inside of our own ecosystem.”

Even though the conversation was entirely about Prime-Ex Perpetual, its underlying tone favored the ICO industry, particularly when King queried about the reliability of blockchain assets like PEX-Tokens to be used as sound financial instruments. Gilbert’s reply focused on organic demand, explaining how the users’ agreement to circulate a blockchain asset within a functional ecosystem can drive its demand.

The interview proves that mainstream financial media outlets are actively taking interest in the blockchain projects, and their innovative method of raising funds. Prime-Ex Perpetual, meanwhile, utilized the opportunity aptly to demonstrate the true purpose of tokenized investments.

Watch the full interview: 

In our constant lookout for the most interesting blockchain projects, we have come across many. Their ability to spot the drawbacks of traditional methods and provide efficient and cheaper solutions makes them unique. XinFin is one such project that caught our eye in the middle of a regular day. After going through their elaborately written whitepaper, we decided to reach out to their Chief Technical Officer, Karan Bhardwaj, for an interview. He was humble enough to make a window for us that would eventually provide us a detailed overview of their blockchain-based global trade and finance platform. Here are some excerpts from the conversation we had.

Yashu: Thank you for speaking to us on such a short notice Karan.

Karan: The pleasure is all mine Yashu. Thank you for having me.

First of all, I would like to tell you that I’ve read your whitepaper. But for our readers, I would urge you to provide us an overview of XinFin’s blockchain.

We call it the XDC blockchain. It is a hybrid blockchain that maintains both a public state as well as a private state. This distinction is very useful for enterprise use cases because various institutions may prefer to keep their financial transactions private but still be verifiable by an immutable record on the public state of the blockchain. This need is fulfilled by the XDC blockchain where the details of the transaction are available only to the involved participants but the same transaction can easily be verified because of its digital record on the public state of the blockchain.

How do you ensure such privacy? Have you created any unique standard? What is XinFin’s XDC01 Protocol?

Yes, we have. Thanks for mentioning it Yashu. We have developed a protocol here at XinFin. It is called “the” XDC01 protocol. There are many blockchain implementations out there but no real standardization across or even within an industry. The XDC01 protocol seeks to change that by offering a robust and customizable enterprise blockchain solution that has applicability many different industries.

But Karan, how is XDC01 protocol more secure than any other public blockchain?

While public blockchains are secure platforms for carrying out trustless transactions, there is public visibility that can be exploited to compromise sensitive financial information. The Bitcoin blockchain, for instance, has been exhaustively mapped out such that transactions can be traced in ways that subvert the protocol.

The XDC blockchain, thanks to its hybrid functionality, allows for fully private sub-networks to carry out transactions that are recorded as a single hash on the public state of the blockchain. This hash can be used to verify the transaction by the involved parties but cannot be used to derive any meaningful financial details that can compromise the data security of those involved.

The XDC blockchain is a permissioned blockchain. That means the distributed infrastructure that makes up the XDC blockchain will be hosted on the infrastructure of leading financial institutions, corporates, and other kinds of reputed players. There will be stake requirements that will ensure all participants behave in a truthful and reliable manner. There will be punitive measures against the wrongdoers.

Interesting! Could you also tell us the real world applications of XDC01 protocol?

Well, there are many! I’ll try to give an overview. The first one is Trade and Finance. The XDC blockchain can act as a marketplace platform for peer to peer trade and financing. The advantage of using the blockchain, specifically the XDC01 protocol, is to minimize the global infrastructure deficit by enabling peer to peer financing between governments, corporations, buyers, and suppliers to make efficient use of capital and deploy projects without burdening government treasuries. The  platform can help buyers secure capital at globally competitive rates, give suppliers visibility on global tenders, give access to a large customer base, and give financiers real time visibility on their investments through real time monitoring  via IoT devices.

The second real-world applications of XDC01 protocol is Digital Wallet and Remittance. The XDC blockchain allows for real-time settlement where individuals, corporates, and financial institutions can carry out cross-border payments for trade, financing, and remittances. The XDC blockchain offers robust security and high transaction throughput making it an ideal solution for financial transactions.

And how can I forget Industrial Applications! The XDC blockchain is use case agnostic and XinFin is currently working with several partners and institutions in energy, travel, aviation, and fintech sectors. Blockchain and IoT based customized solutions can be deployed for business process re-engineering, supply chain, financing, procurement, and settlement.

More questions on XDC01 protocol. Does it run on electricity, or make any similar power demands to function properly?

The XDC blockchain does not achieve consensus based on Proof of Work that is employed by Ethereum or Bitcoin. PoW is a very energy intensive mechanism for achieving consensus. And frankly not appropriate for enterprise blockchain use cases. So the XDC blockchain does not make any additional electricity/energy demands over the necessary IT infrastructure.

So what is the consensus mechanism of XDC, exactly?

The consensus mechanism used in public blockchains(Proof of Work) is entirely unsuitable for the permissioned blockchain use case. The consensus mechanism used in the XDC blockchain is derived from algorithms that ensure BFT.

At XinFin we have an in-house R&D team that is actively developing advanced consensus mechanisms. We collaborate with premier educational institutions in our R&D endeavors and are planning on involving skilled developer talent for this project as well. If you’re a software engineer with expertise in computer networking and looking to get involved in cutting edge financial technologies, we’d love to hear from you.

How big is the XDC developer community?

The blockchain space values its community very highly and XinFin is no exception. We’re closely connected to the larger blockchain community and host various channels for developers to contribute to our project. We’re setting up a new RocketChat server and invite the developer community to come talk and code with us on this very exciting project.

How does XDC plan to be compliant with regulators?

The XDC blockchain has been designed with enterprise use cases in mind. Solutions built on the protocol have to conform to numerous regulatory frameworks that govern these institutions. We have initiated contact with regulators around the globe and shared our technical documents and other business literature. The XDC blockchain has provisions to set up auditing nodes which will be extended to regulatory bodies, with customizable permissions, for the purposes of regulatory compliance. Xinfin will make necessary disclosures and adhere to regulatory guidelines.

Moving to the adoption. How can large institutions work with XDC01 protocol?

Public blockchains, like Bitcoin or Ethereum, run on public nodes. Some of the nodes take part in the activity of mining. Through mining new blocks(of transactions) are added to the blockchain. These mining nodes are set up as clusters and consume a large amount of electricity. The cost of running this infrastructure, including all hardware and ISP fees, is offset by incentives paid to the miners to continue running their nodes. There are two kinds of incentives. One is paid when a miner or mining pool adds a new block. The other is paid as transaction fees charged against individual transactions. Hybrid and Private blockchains do not employ mining to make blocks of transactions. So the incentives and costs are fundamentally different.

The XDC blockchain is a Hybrid blockchain that does not allow public hosting of its nodes. Corporates and financial institutions must obtain a membership by owning stake in the XDC token pool. There are three tiers of membership. Tier 1 is open and available to all participants in the XDC ecosystem. Tier 2 and 3 memberships are obtained by organizations that purchase a certain number of XDC tokens. These members have the ability to host nodes validator nodes that correspond to ‘mining’ nodes in the public blockchain paradigm. They can additionally create and run private blockchain networks that are connected to the pubic XDC blockchain. The private and permissioned sub-networks are highly powerful and secure while simultaneously leveraging the power of the public XDC blockchain.

And how does XDC trade and remittances address the Volatility issue of the crypto markets?

The extreme volatility of cryptocurrencies makes them unsuitable for real-world trade use cases. Any fall in prices may lead to significant losses for involved participants. The XDC blockchain has easily deployable smart contracts written with a unique hedging feature. This feature allows the recipient to receive exact fiat value of the trade (net of commissions) at the time of smart contract closure. 10% of XDC tokens will be reserved for the hedge pool and will be used to guarantee the trade.

How does the XDC protocol architecture address the global Assets and Equipment Financing market?

The XDC protocol adds the efficiency of blockchain tech to the real world asset financing processes. Assets financed on the XDC blockchain are monitored real time to ascertain value depreciation according to standard processes. If the asset needs to be refinanced or sold, the valuation is available in a standardized and appropriately public form.

Before wrapping up, do you wish to say anything to our readers?

Hello readers! We here at XinFin are strong believers in the open-source paradigm. We like to support open source projects and plan to contribute parts of our own development to the open source community. We invite developers and blockchain enthusiasts to join in our project. We also have bounty like programs where we set up problem statements and developers can solve them for rewards, tokens, or prize money. I’ll request Yashu to list our community page links where you can access more information about our project.

Sure, I will.

Thank you, Yashu.


XinFin Community Page:

https://www.xinfin.org/community

Other links:

Slack Channel for Developers :

https://xinfin-public.slack.com/

Gitterchat Channel for Developers :

https://gitter.im/xinfin-public

Github :

https://github.com/XinFinorg

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In an attempt to support the development of a blockchain-based global solution for financial freedom, Bonpay has decided to raise funds via an ICO.

The UK-based FinTech service, which focuses on promoting cryptocurrency dissemination and usage, stated in its latest press release that it will embark on its crowdsale campaign by mid-October 2017. It also used the opportunity to introduce its institutionalized token that will be the center of their upcoming crowdsale round.

BON, as the token is titled, will be an ERC20 standard cryptocurrency. 85% of these token units will be allocated for the public sale, while the rest of them will be assigned to the Bonpay team and early investors. They will also be reserved for long-term strategic interests.

The scale of Bonpay project is very big and it can be easily assumed where they will be putting all their financial resources in the coming months. The company is bringing, as it quotes, a revolutionary Decentralized Liquidity Network system that will enable any exchange or transaction process to be implemented on demand, swiftly and without any delay. This is a huge proposal, considering how the traditional crypto market is lately suffering from liquidity issues, hampering the overall user adoption rate, as a result.

“With DLN’s help, users will be able to exchange or purchase a currency of their choice without giving a thought about the underlying mechanism,” stated Bonpay. “The capabilities of DLN system fits Bonpay’s motto – to provide not only financial freedom but also the freedom of worries” perfectly. The platform ensures that all the participants of the deal are satisfied with their experience.”

The ICO will also support the development of a transparent rate system. This system is proposed in the wake of growing discrepancies of the ongoing currency exchange practices. Bonpay explained:

“This [Transparent Rate System] feature will be realized by the DLN implementation and will let users escape sharp exchange movements, avoid hidden conversion fee and execute future transfers reasonably.”