Varad Shambhawa from Comm Tech Speaks to NewsBTC About the Platform

Indicoin has been making a lot of noise in the recent days, thanks to its innovative blockchain solution. The NewsBTC team decided to catch up with the platform’s creators to get some insight into the platform.

Speaking to us, Varad Shambhawa, Community Admin Indicoin had the following to say

 NewsBTC: What’s your story? How you came up with the idea of Indicoin?

Varad: India as a country is facing the challenges of a growing population with slow modernization. Millions of people are suffering severely because of a weak infrastructural system with just a little to be done on such a gigantic scale.

The lack of institutional management has influenced India as a country. All these issues made us think why not adopt this brand-new technology to give back something good to the community.

We discussed few major issues like hunger, poverty and few others because of which the basic growth of the country cannot be achieved, right? So, we came up with a unanimous conclusion to lay the foundation of an organisation which will revolutionise the way of social service. And we ended up with Indicoin!

NewsBTC: What do you think your project will revolutionise, the concept of social giving and helping?

Varad: It’s obvious from the idea of the project that it is determined to create a community of user to address the social sector. It’s always said that social workers make no money, but through Indicoin, you can support a good cause and get rewarded for the same. We are at first hand to incentivize even the simplest contribution done to the society. Incentivisation in any way will pump up the keenness to work for the social welfare. Currently, there is no such use case of blockchain implemented project which aims at incentivising the social tasks.

NewsBTC: Why couldn’t Indians just use ETH?  What are you trying to solve, offer or build?

Varad: The social welfare and development system in India as well as all over the world possess some discrete irregularities such as the questionable distribution of funds within the social welfare sector. We plan to decentralize the entire payment gateway so that the allocated funds reach their intended targets. And you asked for why Indians couldn’t just use ETH? And that’s because most Indians don’t even use Bitcoin and that’s what we are trying to change by helping them to shift from the traditional debt based economy.

NewsBTC: What is the use of blockchain technology in your project?

Varad: In our project, we have utilised blockchain technology to remove the third-party involvement in transactions. This technology will help in fair and transparent award distribution over the platform. Smart Contract is going to play a vital role in this.

NewsBTC: Did you use any third-party companies while planning ICO, for solving some legal issues or developing your marketing strategy for example?

Varad: Yes, we had collaboration with Comm Tech Labs, Coin Traders India and Coinwolf. They helped us right from the time presale started and till we concluded with the ICO. We had support in terms of legal issues, campaigns and media reach. We have also collaborated with many IITs and NGOs for the social support through upcoming campaigns.

NewsBTC: Is it similar to Steemit?

Varad: Unlike Steem which rewards any and all content posted by the user, Indicoin provides a platform where only proposals benefiting the society are posted. These proposals then get voted on by the community and they become targets. Upon successful completion and providing a proof of the work Indicoin is distributed to the user and the voters.

NewsBTC: Whom is your project made for? What problems does it solve?

Varad: We did not limit the potential of Indicoin to reach any particular section rather we made a platform where the contributors, recipients and the supporters are together benefited.

The project aims to eradicate social and financial problems.

The “actual proof of work” whose agenda is to raise different issues in the form of social campaigns. Those campaigns are substantiated with proof of works and upon approval or disapproval, Indicoins are awarded to the individuals.

NewsBTC: What are the challenges you may face in future?

Varad: When you enter an industry which is new, you will have to face the challenges every other day. One major concern we have is for Government Regulations which might come into picture at any point in time. We will have to deal with it because we don’t know what is it all going to be, right?

Another challenge we have are the fake ICOs emerging regularly. We will have to work efficiently to keep our members intact. Currently, we are a self-regulatory organization and our campaigns and activities are operated through our non-profit organizations and other NGOs who we have collaborated with us.

NewsBTC: Do you have any competitors on the market? Who are they? What are your advantages over them?

Varad: Well, our idea of social service and incentivisation of work is very unique. There is nothing as such of competition in that space. The uniqueness of the project was the main reason for the ICO success.

NewsBTC:  What you have to say about your team?

Varad: Indicoin’s team comprises of compelling co-workers who give their 100% round the clock. The team we convened is pretty efficient in achieving the given targets. We have a global team working in the blockchain ecosystem either involved in Ether or Bitcoin from 2014 or later.

We have a well diverse team and thanks to Comm Tech labs that we collaborated, and it worked out so well. Whether it is ICO marketing or Smart Contract, Comm Tech helped from every end. With efficient curation, we conducted presale and ICO followed by the listing over good exchanges like HITBTC and IDEX.

Learn more about Indicoin at https://www.indicoin.org.in/

 

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Hello and welcome to News BTC’s Market Outlook July 11.

ETH/USD

Ethereum rolled over during the Monday session, reaching towards the $222 level. It now looks as if we may go looking for $200 underneath, which should be much more supportive due to the large, round, psychologically significant nature of that level. In the meantime, it’s probably best to step away.

ETH/BTC

Ethereum is testing the 0.09 level against Bitcoin, which should be supportive. However, we have not seen a bounce yet so it’s likely that the market may need to take the next day or so to stabilize. If we do breakdown below the 0.09 level, I think the market will then go looking for support near the 0.08 level after that. I’m not willing to sell, I just don’t think that it’s time to buy.

Thanks for watching, see you again tomorrow.

NewsBTC recently got the opportunity to speak with Matej Boda, the co-founder of DECENT, a blockchain-based content distribution platform. Boda discussed how Decent is following the blockchain’s literal and moral code to create a decentralized content distribution network that would help content creators and publishers alike. Here are some excerpts from our interview:

NewsBTC: What makes Decent platform different than its competitors?

Matej Boda: The main difference is based on long­term goal we want to achieve. According to DECENT Development Plan DECENT Network aims to revolutionize the digital content distribution process. Our vision is to create a fully integrated & trustworthy worldwide system of digital content distribution in which the communication flow is secured and timestamped by the blockchain mechanism.

How publishing platforms, like NewsBTC, could benefit from your services?

The main advantages that the established publishing platforms can achieve are transparency and security. Content distribution through DECENT Network and author’s reputation is timestamped in the Blockchain. Online publishing platforms can provide all the features that their users are used to, while they ensure the highest level of security and trust.

Why it took Decent so long to announce software sale?

We started development in June 2015. The idea came sooner that year. We have been working with many people on it and we still are. DECENT supporters, based around the globe, are constantly helping us to spread the word. During the last couple of months we were validating the product in different phases and looking for the right fit. When we were 100% sure we want to go this way we started to prepare everything. We wanted to be sure we are ready for the ICO. Our goal is to have finalized product that is ready to be published. That is also goal of the whole development after the ICO. We want to be sure our product will be ready to launch.

How Decent is not just another vaporware?

We have built strong team around DECENT Network. There also are many people that are constantly helping with DECENT development and community outreach. We already have a fully functional prototype that will be launched soon after the ICO as a Test­net is launched. The prototype has already demonstrated all of the main functions of the Network and it is nearly ready for the system. We need to do some optimization and small changes on it and we can move to the testphase. We want to make sure we will not release unfinished product. Therefore, we aim to test our product until we can be sure there are no holes in it. Also we are expanding our team with senior developers, that will assist us in further development.

IPOs don’t really have good reputation. How will you ensure a fair bounty distribution?

Our goal is to prevent initial dump of the price because of high bounty rewards. Therefore we cannot release all of the funds at once. It is common in IPO’s to create restriction that will prevent insiders who are holding company’s stock, before being public, from selling the stock for a certain period of time after the company goes public. This period is there to prevent the market from being flooded with a large number of shares, which would depress the stock’s price. The funds will be released in several waves. All of the bounty rewards will be distributed up to 3 month after launch. If you have any questions you can get it touch with me on our channels.

NewsBTC is happy to report that its long time plan to secretly champion and eventually implement the controversial CoinDesk blockchain hard fork has finally come to fruition. 

Reliable sources suggest that the successful execution of this three-year-in-the-making operation has served to unseat CoinDesk as the self proclaimed “world leader in news, prices and information on bitcoin and other digital currencies”, and propel NewsBTC to the top of the crypto food chain.

Here’s what the puppet masters behind the scheme, and NewsBTC’s dominance, had to say about the development:

“Of course, we are delighted that the CoinDesk hard fork has had this effect, but we can’t say we are surprised. It’s been a long time in the making, and with the quality of the team we put together to work on this, we’d be more surprised if it didn’t turn out as it has.”

And here’s what Marathon Killit, CEO of NewsBTC thinks:

“Our goal is and always has been to be the number one bitcoin news outlet in the world, and today, we finally achieved that goal.  †Hallelujah†”

We’d like to thank the team behind this unseating (you know who you are) and look forward to dominating the space for many years to come.

Cryptocurrency writer Nick Maninoff has joined NewsBTC as Europe Chief Editor. In the upcoming months, Maninoff will work closely with the NewsBTC editorial team and our staff to provide high-quality and reliable content.

“I want to make NewsBTC one of the best digital currency news platforms out there. I want to do my part to produce the finest articles we can about the most interesting topics we can find. Bitcoin’s name must get out there, and I feel NewsBTC is the perfect platform to make this happen. Through expansion, we can do our part to educate the world about bitcoin and cryptocurrency in general and possibly relieve some of the globe’s growing financial problems, while still providing high-quality content to satisfy every reader’s tastes,” said Maninoff.

NewsBTC over the past few months has focused on the consistency of the quality of content, and providing reliable information for our readers. With the help and experience of Maninoff, the NewsBTC team aims to efficize the editorial process and focus on building NewsBTC into a go-to platform for bitcoin readers.

Background

Maninoff was first introduced to cryptocurrency about a year and a half ago. Since then, he worked with popular bitcoin media outlets including DCEBrief and Bitcoinist, contributing high-quality content regularly.

“I was first introduced to cryptocurrency about a year and a half ago. I was a recent college graduate and was in need of a job. I answered an ad for a company called Money & Tech in San Francisco (whom I still work for today) as they were looking for a news contributor. The person who hired me told me that their broadcasts revolved around bitcoin and digital currency, something I had no idea existed at the time. I then spent the next 48 hours reading everything I possibly could about bitcoin and its crypto-cousins and was truly fascinated by all the good they could do and by the strength and appeal of the blockchain,” Maninoff told NewsBTC.

“Since then, digital currency has become somewhat of a good luck charm for me, landing me other work and additional writing clients. I’ve worked as a cryptocurrency writer full-time for over a year, now. I’ve worked with NewsBTC since December of last year. I am also a regular contributor to Bitcoinist.net and DCEBrief among other sites.”

One of our favorite topics at NewsBTC is proof of existence, whereby a single hash value can be used to authenticate any data in existence. We’ve written extensively about how this will revolutionize real estate and healthcare, its applications for blockchain systems, and how it will evolve in the future.

That’s how we know that this concept is the future, which will soon revolutionize intellectual property, as well. Just as we’ve embraced decentralized content development and distribution, we plan to promote the new IP movement, and so have made ascribe our latest strategic partner.

ascribe.io is a new way for creators to lock in attribution of their digital work, securely sharing and tracing where it spreads online. Users can upload art, photography, logos, designs, gifs, or any other type of digital creation. For non-digital artwork, the users submit photos or other forms of documentation, instead.

When a piece is registered with ascribe, a unique cryptographic ID is generated and stored on the Bitcoin blockchain. The cryptographic ID is made from the digital work and its artist’s identity, producing a permanent and unbreakable link between the two.

Storing attribution on the blockchain allows anyone to verify authenticity and trace the work back to its original creator, which can help if someone attempts to claim your artwork as their own. In this manner, you can prove authorship without using central authorities such as copyright registrars. The time and money saved could be used for other purposes, like becoming your own record label or publisher.

The project is managed by Bruce Pon and Trent and Masha McConaghy, who proudly support crypto non-profits such as the Decentralized Dance Party. ascribe’s services are free of charge to artists as part of their campaign to empower everyone to own and manage their intellectual property. Revenue comes from marketplaces that buy and sell authentic digital work.

As part of its new partnership, ascribe will provide hashing services to NewsBTC, as well. All articles, graphic designs and other content will be hashed and inserted into the Bitcoin blockchain. By combining these hash values in what’s known as a “Merkle tree,” we could generate an official “NewsBTC hash” capable of determining whether any content was or was not produced by our media outlet.

ascribe will also list NewsBTC as a partner and news source on their website; in return, we are committed to covering all of the major events surrounding this initiative with groundbreaking articles. ascribe will be listed in our business directory, as well.

Leading bitcoin media outlet and news network newsBTC has appointed experienced bitcoin writer, journalist and graphic designer Ruben Alexander in the role of chief editor.

Alexander, who has worked with several prominent bitcoin media companies including BTC Media’s Bitcoin Magazine will join the newsBTC editorial team to provide our readers a diverse and unique variety of content.

The newsBTC team believes Alexander’s experience will be invaluable as the company continues to expand in size. In the upcoming months, newsBTC aims to launch international franchises and improve its editorial guidelines to ensure high quality journalism.

Prior to working for bitcoin media outlets, Alexander was actively involved in freelance writing, illustration, 3D print designs and the financial technology industry. In the future, Alexander plans to offer his experience as a graphic designer and provide unique illustrations and visual aid to guide our readers through each content.

Since late 2014, Alexander has focused on coverage of events, partnerships, product launches, beginner guides and technical assessments in the bitcoin industry. Whilst maintaining his position as an editor, Alexander will regularly contribute unique content for newsBTC readers and the bitcoin community.

Alexander believes the Bitcoin community is composed of passionate and determined individuals that deserve the right to financial freedom. With the help of newsBTC writers and staff, Alexander will work full-time to provide consistency and diligence in every story published.

“It isn’t often that I’ve gotten a second chance at a specific role. I want to focus more of my writing on educating those who find Bitcoin to be too complicated, and have a hell of a lot of fun along the way.

I was fortunate to recently bring a new Bitcoiner into the fold over breakfast. His international clients and vendors wanted him to use Bitcoin — they may have been begging on their knees, and he was eager to learn more. I presented Bitcoin to him and answered as many questions as I could.

I hope more people can become Bitcoiners before another monetary crisis is upon us,” said Alexander.

Since the beginning of 2015, an increasing number of technology firms and bitcoin startups have been targeted by anonymous hackers demanding bitcoin ransoms.

Encrypted email service provider Protonmail is one of many victims suffering from extremely powerful Distributed Denial of Service (DDoS) attacks that have effectively shut down some of their servers and databases for weeks.

According to Protonmail, the hackers begun to target its datacenter that is shared with other Swiss technology firms in Geneva, leaving no choice for the team to pay over US$6,000 in bitcoin ransom to the hackers, requesting an immediate termination of the DDoS attacks.

“The coordinated assault on our ISP exceeded 100Gbps and attacked not only the datacenter, but also routers in Zurich, Frankfurt, and other locations where our ISP has nodes. This coordinated assault on key infrastructure eventually managed to bring down both the datacenter and the ISP, which impacted hundreds of other companies, not just ProtonMail.” the company announced.

However, the attacks continued and a national investigation was launched by the Cybercrime Coordination Unit Switzerland and the Swiss Governmental Computer Emergency Response team as an attempt to devise a plan against the hackers and help tech firms mitigate the attacks.

“We have been working with the Swiss Governmental Computer Emergency Response Team (GovCERT), the Cybercrime Coordination Unit Switzerland (CYCO), as part of an ongoing criminal investigation being conducted here in Switzerland and with the assistance of Europol,” said Protonmail.

NewsBTC

Yesterday, the newsBTC team has also received a bitcoin ransom blackmail from anonymous hackers, who have launched two immense DDoS attacks over the past two days.

However, newsBTC has successfully mitigated the attacks and refused to pay the ransom.

According to the extortion letter received by newsBTC earlier this morning, the hackers demanded 1 bitcoin for the termination of the DDoS attacks.

Bitcoin has caused a revolution in multimedia, among many other things. This includes not only news providers such as ourselves, but also music, entertainment, video games, and even the means of publishing itself. The decentralization movement has spawned a community with its own culture, which produces artwork such as fashion, songs, and fictional material.

NewsBTC plans to support such projects, such as our new partners at Crystal Insight whom are producing Death Row Democracy. Work began on this TV series at Decentral Vancouver in early 2014, and has been filmed at numerous prime locations since then. It’s being funded, produced and published using blockchain technology, and the storyline is true to form.

It takes place in the future, when decentralized technology has finally become an existential threat to the traditional power hierarchy. The elite move decisively to squash this movement, and the world is split into two economies. “Libertarian cyberpunks” invent a new cryptocurrency that is completely untraceable, and spawn a peaceful revolution with new businesses and organizations that are impervious to central authority.

As always, however, there is a twist: an anonymous website for bounty hunters grows to power, and anyone can be a target. Both sides get caught up in the ensuing drama, with many cameo appearances by known persons in the Bitcoin space. Many of them will be actively involved in the production and marketing process.

The entire project is funded using bitcoins, in which almost all of its expenses are paid. The founders Christian and Crystal-Dawn Blaze are practically living on BTC, a growing trend they hope will spread. They’re even working with decentralized distribution channels–the first episode will release first via Namecoin at deathrowdemocracy.bit before March 2016.

NewsBTC will be covering their development every step of the way. Our staff are friends with the Blazes, and will have an inside view of the process. We’ll be bringing you the latest news about the project, plus summarizing and analyzing each episode as it is released. In return, NewsBTC and its staff will be among the many cameo appearances on the show, and will receive logo placement on their website and credits.

The Bitcoin Co-op has been an important part of the Canadian Bitcoin community from the beginning, before the days of altcoins and non-currency uses of the blockchain. Although registered as a for-profit cooperative, its focus has always been on Bitcoin outreach, having convinced dozens of merchants to use bitcoins and fostered student clubs around Vancouver.

The Co-op also has other projects, such as the Food Initiative and related Bitcoin farm. Such initiatives cost money, however, so a team of members lead by director Andrew Wagner have undertaken a new enterprise. Effective immediately, the Bitcoin Co-op is the new owner of NewsBTC Canada, a publishing outlet under the NewsBTC brand.

NewsBTC is a premier cryptocurrency news outlet, with an Alexa ranking of around 40K at the time of this writing. It was formed in October, 2013 by CEO Jonathan Millet, who comes from a forex background. After a turbulent period of site redesign and development, it grew to be among the most trusted Bitcoin news sites, where it still is, today.

In June of 2015, Andrew became NewsBTC’s Community Manager and rapidly built the largest Bitcoin news franchise in the world. There are already over a dozen franchisees posting content in at least half as many languages, with Latin America leading the way. The Canadian franchise was among them from the outset, but stagnated under the previous management.

Given that Canada is among the most Bitcoin-friendly countries in the world, this came as a surprise. It houses the world’s first Bitcoin ATM, as well as the first Indian restaurant, first nightclub, and first cafe franchise to accept the currency. This year, the Canadian senate even published and hashed a report into the Bitcoin blockchain, which calls for “light-touch approach” to regulation in the country.

The Bitcoin Co-op plans to capitalize on the fertile ground they’ve created. Writers will focus on local stories, such as upcoming events, new businesses accepting crypto, and the latest relevant laws and court cases. Experts on specific topics will weigh in at regular intervals to give a Canadian perspective on industries and issues such as coin mining and regulatory guidelines.

As per its cooperative philosophy, revenue will be distributed in an egalitarian fashion. It will be divided equitably among NewsBTC Canada writers in proportion to their volume of work published, with bonuses given for articles high in quality, readership, or strategic value. Once a sufficient stream of income has been established, a paid manager will be appointed, and a portion kept by the Co-op using their multisignature Bitcoin address by CoinKite.

Advertisers are expected within a couple months, given the high number of cryptocurrency-related companies in Canada–it rivals the United States in the amount of capital invested nationally in the Bitcoin industry, and leads the world in second place despite its proportionately small population. The team is very excited to begin, and hopes to be up and running within a week.