Blockchain Startup Human Discovery Platform Announces Revolutionary Changes to Digital Self-Improvement Market in New Whitepaper

Bitcoin Press Release: The Human Discovery Platform has proudly announced the release of its new whitepaper. HPD’s system will address issues within the self-improvement industry, offer transparency through digitalization of methods of human analysis from various sciences, blockchain-based architecture, and native HD-tokens.

31 October, Moscow, Russia – Moscow-based blockchain startup Human Discovery Platform, is a  decentralized system that studies and approves ‘methodics’ (a method known as personal data interpretation tests) for personality analysis for digital products. The company’s recent whitepaper outlines how it aims to address numerous issues for tech entrepreneurs, authors of methodics, and their backers. Human Discovery Platform developers are working on the system, which will launch to the public in June 2018.

The typical players of self-improvement industry like coaches or consultants have been around for ages, but the new trend in the industry is a shift towards digital services and mobile applications.

Integration of methods of personality analysis into the services is a major challenge, as it allows services to provide users with highly personalized recommendations based on the detailed personal information.

There is currently a huge gulf between the authors of methodics – psychologists, consultants, scientists – and entrepreneurs, who develop services. Entrepreneurs attempting to purchase a methodic for a service application are required to undergo a series of legal stages, pay taxes and various other commission charges. Individuals wishing to sponsor an author are also required to meet the required legislative requirements, especially if they are citizens of different states. Authors of methodics have also undergone a fairly high degree of scrutiny in the media, with the science behind the methodics of the self-development industry frequently coming into question.  

If authors were given the ability to create their methodics in an open, transparent and accessible way, they could provide a broader array of offerings, ranging from decentralized dating apps to HR-services. Human Discovery Platform’s whitepaper explains how the company will solve the problems of approbation, through the monetization of methodics for personality analysis, data storage and provide regulation for interaction between entrepreneurs, authors of methodics and their backers.

The Human Discovery Platform will enable all authors to install their own methodic into the system by creating a block, which is located on nodes and execute a code of analysis.

The Human Discovery Platform will create complex methodics by combining blocks of various authors. For example, if the author wants to translate his methodics, he can put the translation block in front of his block. Blocks are similar to smart contracts, loaded by authors into a blockchain-network, and executed on decentralized nodes. The decentralized design of the platform ensures that the author’s data used for the methodic will be stored safely and not vulnerable to any one point of failure.

Implementing Blockchain technology in this field also alleviates any issue of mistrust, as each time the block executes request from the client, the blockchain-network records all incoming and outgoing data. This decentralized record doesn’t cover user’s personal data, so the results of the analysis are transparent, impersonal and available for verification. This way Human Discovery Platform will accumulate knowledge about human personality and behavior without being tied to a service that can go bankrupt or temporarily close down.

HD Tokens

The Human Discovery Platform ecosystem will run on its native HD-token, built on the Ethereum blockchain. HD-tokens will be issued in exchange for Ethereum and various other cryptocurrencies.

To conduct a request for an analysis of input data, the client will spend HD-tokens, which are later distributed between the authors of the blocks used by the client and the nodes on which the analysis code is executed.

A client can be an entrepreneur, with the ability to create a site or social network on the basis of the methodic. One advantage for entrepreneurs is that the platform will provide them with ready-to-use API of methodics, making it easier to launch the product based on it. The author of the methodic will also be able to create a contract for the backer who wants to sponsor the author, according to which part of the received HD-tokens from the block will be transferred to the backer. The platform is also expected to attract freelancers, who will serve needs of its participants and get HD-tokens in return.

Meet The Team
Timur Karimbaev (CEO),
Marat Nigametzyanov (Business Development Director)
Sergey Mikhailov (COO)

Timur, Marat and Sergey are known in Russia as co-founders of GetCourse, one of the largest services for the sale and delivery of online courses. The company’s revenue was $6 million in 2016. More than 1000 trainers and 9 million people are using GetCourse. The product level of GetCourse became a starting point of the Human Discovery Platform architecture.

Learn more about Human Discovery Platform here –
Read the Human Discovery Platform whitepaper here –
Find Human Discovery Platform on Facebook –
Follow Human Discovery Platform on twitter –
Check out Human Discovery Platform Medium Blog –
Join Human Discovery Platform Official Telegram Group –

Media Contact
Contact Name: Julia Zhidkova
Email: [email protected]
Location: Moscow, Russia

Human Discovery Platform is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest

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Blockchain Start-Up EtherSport to Develop Ground-Breaking Sports Betting Platform, Announces ICO Commencing November 13th

Bitcoin Press Release: 1st November, 2017, London, United Kingdom — EtherSport, a decentralised sports betting platform, has announced its ICO campaign to launch on November, 13th. The company is raising funds through the ESC token sale, in order to create an innovative and transparent betting platform on sports events by implementing Ethereum smart contracts.

EtherSport’s lottery, contrary to many similar services, is not based on guessing random numbers, but involves the exact determination of sports events results, which cannot be influenced by anyone. This means that players can leverage their analytical skills, to generate immense profits. By using this particular lottery type, players can not only guess the game results by using their knowledge, but also get an additional kick, by viewing the  events themselves, and supporting their favourite teams.

EtherSport will provide two main vehicles for participation; “Lottery 11”, an innovative online sports lottery platform, and an analogue of a P2P betting exchange with one-on-one and one-against-all bets. This will provide a good amount of product diversification, opening up revenue streams and accessing differing market segments. The lottery mechanism is handled via the Ethereum Smart Contract process, which affords participants completely fair and transparent results, which avoids unnecessary risks and scams. The use of smart-contracts also guarantees transparent and immediate payment, eliminating hidden fees. Security and anonymity are also guaranteed via the use of the Blockchain, making EtherSport one of the most fair and secure platforms in the future.

“We decided to make a perfect match between traditional online sports betting and cutting-edge technologies, namely, blockchain and smart contracts, to guarantee the fairness and full transparency of the process,“ says Alex Tsymbal, CEO and Co-Founder of EtherSport. “The platform provides equality for each participant in the system, and smart contracts guarantee the fulfillment of all conditions and payouts.”

The platform also guarantees unlimited winnings, with no limitations on betting amounts. Fast withdrawals, streamlined and easy registration with minimal personal information, and data about users will avoid third-parties. EtherSport also guarantees ease-of-play, with its’ simple lottery system. EtherSport will launch its’ Lottery 11 for testing early into Q1 of 2018. This will allow for preliminary, unsimulated testing. Shortly after this, Lottery 11 will be released fully, allowing users to wager ESC tokens on events. By Q2 2018, P2P betting will be enabled, whereby players can bet against each-other.

EtherSport ICO

To raise funds for the ongoing development of the platform and project, EtherSport will issue its’ native ERC20 Ethereum-based token – EtherSportCoin (ESC). ESC tokens can be used within the platform to buy the lottery tickets, as a way to earn (15% of the money raised from each lottery), or as a speculative commodity to trade on major exchanges. 100,000,000 ESC tokens will be created, with 70% of these being distributed within the pre-ICO period (November 13th to November 19th) and the main ICO (November, 20th, to December, 20th).

The EtherSport team has years of experience in the lottery and bookmaker industries. The project’s developers were one of the pioneers in terms of working with the blockchain and smart contracts.

More detailed description of the EtherSport project, clear roadmap, profit distribution, and ICO stages are presented in the white paper, which is publicly available on the website. Additional links with information about the project can be found below:

Visit the Ethersport Website here to learn more:
Read the Whitepaper in English here:
Read the Whitepaper in Russian here:
Read the FAQ here:
Reach EtherSport on Twitter here:
Like EtherSport on Facebook here:
Find EtherSport on Medium here:
Catch up on the Telegram here:

Media Contact
Contact Name:
Contact e-Mail: [email protected]
Location: London, United Kingdom

EtherSport is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest

About Bitcoin PR Buzz

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Launching a Cryptocurrency “Token Generation Event” (aka an ICO)

Ethereal ICO panel

On October 27, 2017, disruptors in the cryptocurrency field gathered at the San Francisco Ethereal SummitSponsored by ConsenSys, the summit provided a diverse mix of panels and workshops that demystified the “initial coin offering” (ICO) or “token generation event.”

Side note: Vernacular is key. Referring to a token launch as an ICO is so “September.” The process is now referred to as a “token generation event.”

At the “How to Launch a Token” panel, token generation event veterans Galia Benartzi (co-founder of Bancor Protocol), Matt Liston (CSO at Gnosis) and Piotr Janiuk (co-founder and CTO of the Golem Project) guided Ethereal participants through a hypothetical: founding a hat company and funding the development through a token. Here are some of the key points that they discussed.

Step 1: Determine if the token model fits for the new company

Imagine the whole process backward: What layer does the company involve — application, platform or protocol? Design the decentralized concept first and then discern if a token is necessary.


  • Is the project based on a decentralized model? If not, equity funding is a viable option –– no need for a token.

  • What is the token’s utility within the network? How are customers involved in the network? For example, is the token facilitating and incentivizing collaboration between the community in the network? If so, tokens (similar to shares and equity in a normal company) are a great way to distribute participation among stakeholders.

Tokens work best when fueling network effects around ideas –– when there are benefits to being an early adapter/stakeholder.

Step 2: Find a strong legal team and a favorable regulatory environment

Regulation in the cryptocurrency space is in its infancy and varies greatly around the world.


  • Find a competent lawyer with an understanding of the space that can give risk parameters. It is important to minimize risk for the project.

  • Select a government that defines clear boundaries and has a forward-thinking mentality.

Although blockchains and cryptocurrency promise decentralized disruption to all industries, anarchy would be unfavorable to all. All companies must comply with the law.

Step 3:  Work on the prototype phase

Establish a white paper, set up the concept on the testnet and prove the concept.


  • White paper: describe your network, protocol and model. White papers should strike the proper balance between being math-heavy and marketing-heavy. The goal is for users and stakeholders to understand exactly what the network is doing.

  • Prove that your concept works and expose its source code. Everything should be 100 percent transparent to the public.

  • Trustless (trust forced through code) and transparent networks are critical to long-term success. Secure and validate data by rewarding “oracles,” people who provide trustworthy answers and validate that events did in fact occur. On the flip side, penalize those who lie to the network.

Trust and transparency are paramount for any company that is considering funding its development with a token.

Step 4: Connect with the community

Generating interest for the token and setting the foundation for strong community support before finally launching a token generation event to the public is crucial.


  • Develop a public-relation strategy. Share as much as possible. Post videos, host AMAs, etc. This process can be grueling, but it is necessary to establish a global presence and field questions.

  • Prepare for a fast-paced environment. Communication builds authenticity and credibility with supporters around the world.

  • Listen to outside perspectives and criticisms.

Because token generation events allow for decentralized methods of funding, the company’s diligence process should be decentralized to match.

Tokens generation events are complicated and don’t work for every business type. However, they unlock a new economic driver: permissionless venture capital.

The post Launching a Cryptocurrency “Token Generation Event” (aka an ICO) appeared first on Bitcoin Magazine.

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Op Ed: Slovenia Primed to Become a Blockchain Haven

Op Ed: Slovenia Primed to Become a Blockchain Haven

The prime minister of Slovenia’s speech in support of blockchain technology this week has solidified the country’s position as the leading blockchain destination in the European Union and a key player in the regulatory field.

“After the difficult ordeal of the economic crisis … we are coming back to life, we are growing again, and we are finding that we are creating numerous success stories, which inspire us but also obligate us,” said Prime Minister Miro Cerar. “We have emerged from the crisis stronger. I believe that using blockchain technology, you too will contribute to the writing of a new Slovenian success story.”

The first clear signal that the government was prepared to make some serious moves was during July’s Blockchain Meetup Slovenia 2017, which hosted more than 300 blockchain enthusiasts. Since then, Slovenia has made significant strides in its efforts to become the EU’s key blockchain-friendly destination.

Prime Minister Miro Cerar’s recognition of Slovenia’s blockchain community as involving some of the globally leading developers and entrepreneurs shows the willingness of politicians and regulators at the highest level to understand these opportunities and act quickly. Indeed, five months mean little in the typical context of government and regulation.

Step by step, the distributed economy is becoming a true alternative to centralized systems. The new and ever-arising services are boundless, and go far beyond Bitcoin and into the fields of banking, insurance, new models of creating and sharing content, and more. This globally connected ecosystem already has a market valuation in excess of 140 billion ($163 billion USD).

At the core of a decentralized future is the persistent issue of blockchain regulation. Historically, the law has struggled to keep up with revolutionary technology. As Slovenia’s president, Borut Pahor, also emphasized this week, the age-old question for regulators remains: How can we protect citizens without stifling technological innovation? This is a particularly important question for the country from which the most significant EU blockchain companies originate, including ICONOMI, and Bitstamp, and the country with the highest market capitalization per capita of blockchain projects. We believe that self-regulation, education and raising awareness are important steps toward a safe and innovative business environment.

To address regulatory challenges,, together with blockchain legal specialist Nejc Novak, founder of law firm Novak Rutar, has spent the past five months working intensively with a diverse range of stakeholders, including the Cabinet of the Prime Minister, the Securities Agency, the Financial Administration, the Office for Money Laundering Prevention, the Central Bank, the Ministry of Public Administration and the Ministry of Finance, to clarify a number of key legal uncertainties. As a result,, in partnership with Rutar, is now able to provide robust legal advice to blockchain projects so that entrepreneurs can focus on their products and their user communities, rather than on accounting, compliance and other operational issues.

Slovenian entrepreneurs were early movers in the blockchain industry, and Slovenian blockchain specialists are well-placed to facilitate a workable legal framework for national, European and even global blockchain regulation. Today, Ljubljana is a vibrant market of developers, advisers, investors and savvy businesspeople with some of the most in-depth knowledge and understanding of blockchain technology in the world.

The Slovenian blockchain community is already making leaps and bounds toward a regulatory framework. DataFund, a personal data management solution, will launch later this year in partnership with This local project is a first example of blockchain utilization and in compliance with the EU General Data Protection Regulation.

The prime minister’s acknowledgment of Slovenia’s advancements in blockchain technology is a welcome move toward wider policy discussions within a rapidly expanding industry. By making some wise and future-focused strategic decisions, Slovenia is already well on its way to becoming one of the most desirable destinations for global blockchain startups.

This is a guest post by Zenel Batagelj, Co-Founder and Head of Team Strategy at The views expressed are his own and do not necessarily reflect those of BTC Media or Bitcoin Magazine.

The post Op Ed: Slovenia Primed to Become a Blockchain Haven appeared first on Bitcoin Magazine.

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Creating a Blockchain-Based Network of Interoperable Artificial Intelligences

Creating a Blockchain-Based Network of Interoperable Artificial Intelligences

Artificial Intelligence (AI) startup SingularityNET, recently covered by Wired as “the most tech-hype idea of the year,” wants to democratize AI research and facilitate the emergence of human-level AI on a decentralized, open-source platform.

SingularityNET operates on a belief that the benefits of AI should not be dominated by any small set of powerful institutions but should be shared by all. A key goal of SingularityNET is to ensure the technology is benevolent according to human standards, and the network is being designed to incentivize and reward beneficial players. The startup is developing interoperability standards for AIs, which could radically improve the process of discovering and coordinating AI services, while allowing developers to easily monetize AI technology.

SingularityNET positions itself both as a critical mediator across all future AI developments, as well as a hub for free and open AI technologies owned by the crowd, where anyone can acquire or monetize AI services.

Blockchain-based smart contracts will be central to SingularityNET operations, allowing users to combine multiple AI technologies to create custom AI stacks. The initial implementation of SingularityNET will be built on Ethereum, with smart contracts written in Solidity.

“AI is currently very fragmented and narrowly trained,” Simone Giacomelli, founder of Vulpem and co-founder of SingularityNET, told Bitcoin Magazine. “Blockchain technology and smart contracts make economic collaboration over the internet easier than ever before, aligning incentives mechanisms for different AIs to be optimized as one. SingularityNET leverages this collaborative power to make AI work together.”

SingularityNET is the brainchild of AI researcher Ben Goertzel and robotics designer David Hanson, founder of Hanson Robotics. The robot Sophia, developed by Hanson Robotics, attracted media attention when it was recently granted citizenship in Saudi Arabia.

While the SingularityNET project is still partly in stealth mode, it has been presented at recent blockchain events, including Wired’s Nextfest in Italy, SWITCH Singapore and the World Blockchain Forum in London.

At the recent Ethereal Summit in San Francisco, Goertzel showcased Sophia to demonstrate the power of AI and the potential of incorporating AI and blockchain technology to create a decentralized, open-source, blockchain-powered AI network that operates like, and can be thought of as, a thinking brain.

While on the SingularityNET roadshow, Goertzel is taking time from his busy schedule to write a series of posts on SingularityNET.

“SingularityNET is intended as a platform in which an AGI [Artificial General Intelligence] can emerge from the combination of multiple humans and multiple human-created software programs, possessing varying degrees of general intelligence on their own,” Goertzel told Bitcoin Magazine. “It doesn’t eliminate the need for fundamental algorithmic work on AGI reasoning and learning and memory, but it provides a context in which such algorithmic work can have a rapid, transformative impact.”

Goertzel makes a distinction between narrow AI and Artificial General Intelligence (AGI). While narrow AI programs are finding applications in a growing range of industries, they are not effectively integrated into overall AGI systems with general-purpose intelligence like that of humans. Therefore, Goertzel is persuaded that the next big step in the evolution of AI is going to be the transition from AI to AGI. SingularityNET wants to support this transition with an open market in which various AI algorithms can cooperate and form new patterns of emergent intelligence.

“The actual design that has been formulated is a quite practical system that is being implemented in quality software code and will serve real corporate customers and become a large and lucrative business,” continued Goertzel. “But at the deepest level, the underlying philosophical and emotional motivations David Hanson and I had for creating SingularityNET, are transhumanist ones.”

Goertzel and Hanson are, in fact, among the leading advocates of transhumanism, defined as the prospect of using advanced technology to radically change, hopefully for the better, the human condition. Enabling transhumanist technologies would include life extension, uploading human minds to futuristic supercomputers, and sentient AGI way smarter than humans, which is the target of SingularityNET.

In his 2010 book A Cosmist Manifesto, which blends transhumanist technology and enlightened spirituality, Goertzel proposed a practical philosophy able to inform the next phases of human history and transhumanist evolution.

Ultimately, Goertzel wants to create “a massively transhuman, overwhelmingly beneficial Ubermind” that evolves and grows continuously out of human mind and culture.

“One way to achieve this would be to via brain-computer interfacing — and this is going to happen,” Goertzel told Bitcoin Magazine. “Of course the computer portion of cyborgs made with brain-computer interfaces will jack into this emerging AGI society, economy and culture as well, and then we will get a supermind.”

“This emerging supermind, as it grows, will provide ways for people to earn a living and sometimes even generate tremendous wealth, as part of its growth process,” concluded Goertzel. “And it will donate parts of its resources to the common good of all humans, including underprivileged ones, as a way of helping drive its growth forward toward its objectives of joy, growth and choice.”

Goertzel shared with Bitcoin Magazine parts of the draft SingularityNET white paper, a living document still under tight wraps.

“A blockchain-based framework designed to serve the needs of AI agents as they interact with each other and with external customers can enable the emergence of a collective intelligence,” notes the draft white paper. “The use of cryptocurrency and blockchain for AI services provides a number of advantages. It allows AI agents to exchange work and subcontract with a high degree of flexibility, and also enables AI-based microservices to be offered to any customer via easily accessible APIs (enabled by smart contracts under the hood).”

Goertzel, Hanson and the SingularityNET team want to balance long-term visionary thinking with practical market needs and business concerns. In their view, the platform could enable AIs to learn from each other and collaborate, which would be one of the biggest breakthroughs ever in the evolution of AI, causing a subsequent impact on the global AI market, which is projected to grow from $233.8 billion in 2017 to $3.1 trillion in 2025.

“From day one, SingularityNET will offer AI agents,” continues the white paper. “The open design of the network, and the economic incentives, should then encourage additional AI developers to add their own AI nodes via the SingularityNET API.”

While many nodes will run on powerful supercomputers in the cloud, others will be embedded in Internet of Things (IoT) devices, and humanoid robots like Sophia will be supplied with on-board SingularityNET nodes. The upcoming SingularityNET token, details of which haven’t been disclosed yet, will play a central role in the network’s operations.

The project is about to launch an Initial Coin Offering (ICO) to fund the full development of its platform, to be fully deployed in 2018. “This ICO will allow us to start with a bang,” said Goertzel. “We’ll be competing with Google and Facebook…so having a war chest would allow us to take on them more easily.”

The post Creating a Blockchain-Based Network of Interoperable Artificial Intelligences appeared first on Bitcoin Magazine.

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Bitcoin Price Captures Another All-Time High Surpassing $6,400

Bitcoin Price Captures Another All-Time High Surpassing $6,400

The price of bitcoin has reached another all-time high this week touching an average of $6,420 across popular exchanges. The decentralized currency continues to rise upwards this year, the value of one bitcoin has climbed more than 500 percent in 2017.

Also Read: Extreme Cold Storage: A Fortress of Solitude for Bitcoins

The Decentralized Cryptocurrency Bitcoin Reaches Another All-Time High

2017 has become bitcoin’s year of consecutive all-time highs (ATH), and the currency’s value hasn’t slowed down yet. At press time, bitcoin traders have swapped over $2B in BTC trade volume over the course of the past 24-hours. Additionally, since the price surpassed the most recent $6,300 ATH, the bitcoin economy has added another $5B to its market capitalization. Since then the price has dropped a bit, and is currently hovering around the $6,320-6,360 range. Many people think that individuals are buying bitcoin at an exponential rate due to the upcoming Segwit2x forks. spoke with Crypto Compare’s Charles Hayter who believes the expectation of getting a 1:1 Segwit2x payout is driving a lot of demand.     

“This has led to the expectation that forks are a good thing as by hiving of fanatical elements progress can be driven forward more swiftly as well as the opportunity for private key holders to have stakes in both chains with their independent policies and tenets,” Hayter tells

The result is demand buying bitcoin and price moves prior to the fork as participants clamour to claim their free money with Illiquid futures markets acting as proxy for value. The value depends on the community assessment of the veracity of the plan which often are marketing drives combined with overtures based around one key point.

Bitcoin Price Captures Another All-Time High Surpassing $6,400
The price per bitcoin reached an all-time high of $6,420 on October 31, 2017.

Last Month’s Demand Stemmed from Japan and the Previous Fork

Bitcoin Price Captures Another All-Time High Surpassing $6,400
Charles Hayter, founder of the cryptocurrency data site Crypto Compare.

The same situation took place during the Bitcoin Cash hard fork this past August which led to quite a bit of bitcoin trade volume and increased value. After the fork, bitcoin’s price remained stable and then continued to rise further a few days later. Additionally, Japan is bringing a lot of bitcoin demand to the table, as the yen is still dominating markets by 62 percent. Moreover, bitcoin enthusiasts also believe the bitcoin gold fork pushed BTC to its most recent $6,180 ATH.  

“The lure of free bitcoin gold is thought to have contributed to the recent rise to $6200,” Hayter emphasizes.

The capacity for the crypto-community to create value out of ‘thin air’ is well founded. The ability of Bitcoin forks certainly has a lifespan but investors, opportunists and the community will most likely lose their appetite for such hard forks as it is logical to focus innovation on one primary chain.

While Bitcoin’s Price Continues to Rise Altcoin Valuations Slump

Over the course of the next fifteen days until the fork, traders are forecasting the price to cross $7K or higher. At the moment, that prediction doesn’t seem too far off, but traders are fully aware that the aftermath of this specific fork could be entirely different than last August’s fork. Furthermore, the BTC rise has definitely affected altcoins who are not experiencing the traditional price spikes they usually get when BTC rallies. This confirms the theory that traders are dumping altcoins for BTC to get in on the possible 1:1 Segwit2x token distribution in two weeks.

What do you think about bitcoin’s price reaching yet another ATH? Let us know what you think in the comments below.

Images via Shutterstock, Bitstamp, and Charles Hayter. 

At there’s a bunch of free helpful services. For instance, check out our Tools page!

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CME Group Aims to Launch a Bitcoin Derivatives Platform This Quarter

CME Group Aims to Launch a Bitcoin Derivatives Platform This Quarter

On October 31 the world’s largest options and futures exchange, CME Group, has announced it will be launching a bitcoin-based derivatives marketplace for future contracts during Q4 of 2017. The U.S. headquartered financial markets company says there is “increasing interest” for cryptocurrency options and futures products for mainstream investors.

Also read: Over $1 Million in Bitcoin Swaps and Options Traded on Ledger X in its First Week

The World’s Leading FX Marketplace Will Launch bitcoin-based derivatives In Q4 2017

CME Group Aims to Launch a Bitcoin Derivatives Platform This QuarterJust recently reported on the company Ledger X swapping over $1M in bitcoin options during its first week. Now CME Group plans on creating a bitcoin-centric derivatives and futures exchange over the next two months. According to CME, the contracts will be “cash settled, based on the CME CF Bitcoin Reference Rate (BRR) which serves as a once-a-day reference rate of the U.S. dollar price of bitcoin.” Additionally, the firm’s bitcoin futures will follow the same guidelines as CME’s traditional marketplaces.

“Given increasing client interest in the evolving cryptocurrency markets, we have decided to introduce a bitcoin futures contract,” explains Terry Duffy, CME Group’s CEO, and Chairman.

As the world’s largest regulated FX marketplace, CME Group is the natural home for this new vehicle that will provide investors with transparency, price discovery and risk transfer capabilities.       

CME Group Aims to Launch a Bitcoin Derivatives Platform This Quarter

CME’s Futures Aims to Reflect the Global Bitcoin-Dollar Trade Transparently

CME has been calculating and publishing the BRR reference rates since 2016 with help from the firm Crypto Facilities Ltd. Essentially BRR tracks the trade flow of a few significant bitcoin exchange’s spot prices based on the U.S. dollar. CME explains the reference rate follows “IOSCO Principles” used in traditional financial standards. The following trading platforms used to calculate the BRR include Kraken, GDAX, Bitstamp, and Itbit.

“The BRR has proven to reliably and transparently reflect global bitcoin-dollar trading and has become the price reference of choice for financial institutions, trading firms and data providers worldwide,” details Dr. Timo Schlaefer, CEO of Crypto Facilities.

Also, both companies say that they will continue to provide a superior form of “price transparency to the spot bitcoin market,” with its CME CF Bitcoin Real-Time Index (BRTI). This particular index combines global demand within a calculated order book which mirrors bitcoin’s USD spot price. “The BRTI is published in real time and is suitable for marking portfolios, executing intra-day bitcoin transactions and risk management,” CME notes.

Will Future’s Open the Doors for Bitcoin ETFs?

A lot of cryptocurrency proponents are excited for bitcoin options and futures markets, as they could help pave the way for specific bitcoin-based exchange-traded funds (ETF). Many ETF applicants have decided to wait for CME and Ledger X to get the ball rolling before applying again with the U.S. Securities and Exchange Commission (SEC). CME Group details that its bitcoin futures products will launch if “all relevant regulatory review periods,” are approved by U.S. officials. 

What do you think about CME launching a bitcoin-based derivatives marketplace for future contracts? Let us know in the comments below.

Images via Shutterstock, AP Photo/M. Spencer Green, and CME Group.

Need to calculate your bitcoin holdings? Check our tools section.

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These International Bitcoin Communities Are Rejecting SegWit2x

These International Bitcoin Communities Are Rejecting SegWit2x

The hard fork part of the New York Agreement is scheduled to take place within about two weeks. This incompatible protocol rule change is set to increase Bitcoin’s block weight limit, to allow for more transactions on the network — if everyone adopts the change. Otherwise, it will create a new blockchain and currency that may or may not be considered to be “Bitcoin.”

The list of signatories of this agreement includes several of the largest Bitcoin startups and mining pools that, together, claim to represent a majority of users and hash power. Yet, it is far from clear that this 2x part of SegWit2x proposal really has much support outside of these signatories. Most of Bitcoin’s development community, a significant number of other companies, some mining pools, user polls as well as futures markets suggest otherwise.

And now, a growing list of international Bitcoin communities is putting out public statements against the SegWit2x hard fork as well.

An overview…

Seoul Bitcoin Meetup

On October 12, 2017, the Seoul Bitcoin Meetup — the largest and longest-running Bitcoin meetup in South Korea with over 1700 members — was the first user community to put out a statement on SegWit2x. More precisely, in their own words, the group voiced its “staunch opposition to this November’s proposed hardfork.”

In its statement, the Seoul Bitcoin Meetup places emphasis on the manner in which the agreement was made. Typically, changes to the Bitcoin protocol go through the Bitcoin Improvement Proposal (BIP) process where it is peer reviewed by developers across the ecosystem, whereas SegWit2x went through the New York Agreement, which was forged at an invite-only meeting among about a dozen company executives.

The Seoul Meetup states:

If a select group of CEOs and investors, no matter how benevolent their intentions, can unilaterally make decisions about the consensus rules without public comment and force these changes upon the network regardless of overall consensus, then Bitcoin will have lost the properties that make it valuable in the first place.

Additionally, the Seoul Bitcoin Meetup argues that the hard fork is needlessly risky without offering sufficient benefits to warrant the risk. It also takes issue with the controversial decision of SegWit2x developers not to implement strong replay protection.

Bitcoin Meetup Munich

On the same day as the Seoul Meetup Group, the Bitcoin Munich meetup group also put out a public statement against the SegWit2x hard fork. This meetup group consists of over 2000 members — though only several dozen of them actually engaged in the vote whether or not the statement against the SegWit2x hard fork would be accepted. This statement itself was spread via photo on social media.

In its statement, the Bitcoin Munich meetup explains it opposes the SegWit2x hard fork in part because of technical concerns:

Another doubling of the block size so quickly after SegWit seems hasty and might cause further mining centralization.

The statement further argues that a hard fork requires more and better preparation and should include more improvements from the hard fork wish list, and it endorses Bitcoin Core as “the true Bitcoin client.”

Brazilian and Argentinian Bitcoin Communities

The biggest user community also published the longest statement against the SegWit2x hard fork so far. A combined effort between a significant group of Argentinian and Brazilian users and companies, published on October 17,2017, voiced “their deepest concerns over the upcoming November hardfork as mandated by the so-called New York Agreement (NYA), also known as SegWit2x (S2X).”

Not unlike other critics of the hard fork, emphasis was placed on the process that led to the SegWit2x agreement:

The very nature of an ‘agreement’ between a few parties in a decentralized consensus protocol can be interpreted as an aggression against the network.

Similarly, the statement addresses the lack of transparency from SegWit2x proponents, criticizing the notion of a “political compromise instead of a technical upgrade” and the “consensus imposition instead of consensus building.”

Other points of concern include the lack of replay protection, the rushed nature of the hard fork, misleading statements by SegWit2x proponents and much more.

Israeli Bitcoin Association

The Israeli Bitcoin Association is a non-profit organization that promotes Bitcoin and similar technologies in Israel, with an open membership. On October 24, 2017, this association put out its own statement on the SegWit2x hard fork.

Slightly different from several of the other statements, the Israeli Bitcoin Association emphasizes the right of anyone to fork Bitcoin and create a new cryptocurrency. That naturally includes SegWit2x proponents.

But importantly, the association adds:

A protocol change in the currency holding the name ‘Bitcoin’, especially one requiring a hard fork, requires overwhelming consensus. The SegWit2x hard fork does not in any way enjoy such consensus, and while this remains the case we cannot refer to the resulting currency as ‘Bitcoin.’

The SegWit2x currency will instead be referred to as “‘Bitcoin2x.’ ‘SegWit2x coins,’ BT2, B2X, S2X or any other distinctive term that the industry will adopt.”

The Hong Kong Bitcoin Community / Bitcoin Association of Hong Kong

The Hong Kong Bitcoin Community in general, and the Bitcoin Association of Hong Kong specifically, put out statements against SegWit2x on October 25, 2017.

While technically separate statements, both voice their concern about the lack of consensus for the hard fork. The Hong Kong Bitcoin Community — a group of Hong Kong–based companies — states that “the lack of enthusiastic support for this fork among the community is striking.” The association — which mostly exists to promote Bitcoin in Hong Kong — states that “the proponents of the hardfork should kindly ask the Bitcoin community to support them and then only proceed with the hardfork if there is widespread community support.”

Additionally, the Hong Kong groups speak out against the lack of replay protection in the SegWit2x fork.

Due to the combination of both a lack of consensus across the community and a lack of strong replay protection, we consider SegWit2x a reckless endeavor that will cause disruption and harm to the ecosystem.

The Italian Bitcoin Community

The Italian Bitcoin community, more specifically a group of companies, meetups, lobbying groups and other organizations, put out a statement against SegWit2x on October 31, 2017.

The statement is largely inspired by an earlier statement by the Italian blockchain research lab BHB, which rejected SegWit2x as “an attempt to perform a political takeover of Bitcoin.”

The statement by the broader Italian Bitcoin community is a bit more compact, but nonetheless touches on many of the familiar points of criticism regarding the SegWit2x hard fork.

It reads:

The opposition is especially strong against any action of this kind that could cause huge inconveniences for service providers and serious confusion for users, potentially leading to financial losses: unilateral attempts to appropriate Bitcoin name, logo or “ticker”, attempts to mislead light-clients and SPV wallets on alternative networks not explicitly chosen by them, attempts to launch new coins in a way which leave users vulnerable to “replay attacks” or address format confusion, attempts to attack the network with a temporary hashing-power majority in order to create disruptive reorgs or to slow down the normal activity.

French-Speaking Bitcoin Communities

Meanwhile, the French-speaking Bitcoin communities are voicing their concerns with the SegWit2x hard fork through a petition. It is currently signed by over 1300 people and counting.

The (French) text that accompanies the petition is mostly inspired by and based on the statement published by the Seoul Bitcoin Meetup. Like that statement, this petition emphasizes concerns about the manner in which the agreement was forged, while also noting the lack of replay protection and other problems.

Additionally, the petition includes a call to action to find alternatives for the companies that signed onto and continue to support the SegWit2x hard fork:

We would suggest avoiding the use of services of companies that support the NYA, and we hope to substitute them with alternative solutions.

Are they any more user communities that have put out statements against or in favor of the SegWit2x hard fork? Let me know at [email protected]

The post These International Bitcoin Communities Are Rejecting SegWit2x appeared first on Bitcoin Magazine.

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Robomed Network Unleashes Linkages Between Healthcare Patients and Providers

Robomed Thumb

The global healthcare
market is vast and complex, with equity funding to digital health companies
having reached $5.8 billion so far this year. Within this space, myriad models
of healthcare delivery are being employed as breakthrough technologies are


A concept that’s gaining
increased attention is the “patient-oriented medical network.” In this model, patients can manage and control their healthcare data
through a mobile electronic medical record (EMR) — information they’re able to
grant their doctors access to when requested.   


This mode of value-based
physician-to-patient engagement is designed to impact care quality, cost and
patient access across an entire healthcare continuum. One company that’s making
a mark in this area is an innovative global digital platform known as Robomed


is introducing a solution that allows the medical industry to replace the old,
prevailing ways of managing healthcare processes with new ones designed to
boost efficiency, effectiveness and transparency. This is achieved through the
elimination of non-value-added processes and clinical errors.

Network is comprised of 23 clinics across the world. Through the use of this
ecosystem, patients around the globe have access to bureaucracy-free,
affordable and quality medical care targeted to their specific needs.

What drives all of this is
a medical network managed by a blockchain token, designed to provide the most
effective medical care. Robomed serves as the linkage point between health
service providers and patients, all tied to a smart contract built on top of
the Ethereum platform.

blockchain is designed to constantly expand available capacity for
record-keeping, transactions tracking and accumulation of a diverse database of
medical knowledge and clinical pathways applied to treating a numerous range of
medical cases,” said Robomed Network co-founder Philipp Mironovich. “We believe
that the scope of medical services rendered to patients is bound to grow with
the processes for obtaining these services streamlined.”

As a part of the Robomed
Network, participating in-network clinics utilize what is known as “Robomed
EНR,” a process-automation system geared for medical centers, which includes
unified medical data storage and health management tools. Its primary purpose
is to integrate all participating clinics into a single information space,
allowing various service providers to quickly interact without bureaucratic,
financial or legal barriers.


bridge between the patients seeking quality medical care and access to it is a
smart contact. This interactive digital mechanism allows patients to obtain
access to a chain of healthcare providers committed to delivering the best
medical care consistent with the digital clinical guidelines registered in
Robomed Network.

clinical guidelines are adopted via a constantly updated, competitive and
transparent voting process involving the medical and patient community. The
goal here is to utilize a diverse set of healthcare treatments and high
standards to fulfill patients’ expectations.

Network issues its own tokens to drive the smart contract engagement between
healthcare providers and patients. This elevates service value by granting
token owners full accomplishment of clinical guidelines for cases.

engage with the Robomed Network via Robomed Mobile or Robomed Web. The
proprietary smart contract technology provides a unique opportunity to create a
single system of coordinates with clinical outcomes as a reference point.

the possibilities and examples of using the Ethereum blockchain platform, the
Robomed Network team is excited about this decentralized, cross-border
ecosystem of healthcare providers they’ve created, based on an open smart
contract and cryptocurrency.

history goes a couple of years back, to when co-founders Mironovich and Ivan
Devyatkov decided to combine their expertise from the IT and healthcare
sectors. Mironovich had been involved in the startup of several hospitals, and
Devyatkov was involved in scaling up the second-biggest healthcare laboratory
player in Russia. This is how the basic version of Robomed EHR emerged.

mission is to provide equal healthcare to the world,” said Mironovich. “This
means that Robomed aims toward constantly improving the effectiveness and
efficiency of healthcare services across its global platform.”

Note: Trading and investing in digital assets is speculative. Based on the shifting business and regulatory environment of such a new industry, this content should not be considered investment or legal advice.

The post Robomed Network Unleashes Linkages Between Healthcare Patients and Providers appeared first on Bitcoin Magazine.

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Qchain Charts New Native Advertising Roadmap

qchain header

Today’s native advertising world, where a publication’s editorial content is paid for by an advertiser to promote their product or service is fraught with challenges threatening the ad industry. Due in part to the growing dominance of digital media giants like Facebook, Google, and Amazon, display advertising conversions continue to experience a decline. This trend has spurred efforts to find new solutions for navigating the prevailing advertising ecosystem in a scalable, trustworthy and secure way.

A viable solution in the blockchain?

This nascent technology, which undergirds Bitcoin and other cryptocurrencies, is certainly garnering attention in the ad tech industry. In the past 18 months, companies like MadHive, Basic Attention Token (BAT) and adChain have come to market employing blockchain protocols to applications in the digital advertising supply chain.

One creative approach to solving problems in the ad tech supply chain is an application being developed on the Ethereum and NEM blockchains by Qchain. The open source platform will use blockchain technology to facilitates transactional engagement between advertisers and content publishers, while being mediated and arbitrated by hosts. Akin to Google AdSense Network, Qchain is targeting a three-pronged approach (advertiser, publisher, and host) with an emphasis on a proof-of-interaction transaction verification system.

What makes Qchain unique as opposed to other adtech blockchain startups is its ability to subtly shift the digital advertising model in a way that’s more favorable to advertisers. User experience and ease-of-use has therefore emerged as a top priority in the company’s development amid an environment of advertisers and publishers who are traditionally fairly conservative when it comes to change.  As in the case of BAT, Qchain aims to focus more on conversions versus rewarding users for their attention.

Amid its growing involvement in the intersection between blockchain technology and advertising, Qchain champions the notion that Ethereum and NEM are the two most promising enterprise-centric blockchain hubs currently in development. The former allows for ease in development of decentralized smart contracts; the latter skillfully delivers the Proof-of-Importance (POI) algorithm and the EigenTrust++ reputation system to encourage transactions. Users therefore will have maximum choice at their disposal, opting for the blockchain that most accurately suits their needs.

The infrastructural foundation of Qchain consists of four main elements: the advertiser section, the publisher section, the host section and the marketplace. A user can serve as both an advertiser and publisher.

Qchain’s multidisciplinary beginnings

“The members of the team and I are curious about the world, and a wide variety of academic subjects,” said CEO Wally Xie about Qchain’s ambitious direction. “Therefore we like to go where there are complex problems to solve.”

Xie has long been fascinated by complex systems, and therefore saw blockchains are also an extension of that. At the National Institutes of Health, he  worked on using neural networks to simulate and replicate human brain behavior. Now at the University of California Irvine he is  working on comparing complicated mathematical climate models using Bayesian statistics. “Brains and climate are complex systems, and so are blockchains,” says Xie.

After a few years of following the blockchain industry and its meteoric climb, Xie saw the “third generation” of crypto enthusiasts as well as the concept of tokenization as paths to opening up more opportunities for blockchain technology’s application. At the end of last year, he started brainstorming business and technical problems that could be solved by decentralization and transparency.

While daydreaming in class one day in early 2017 (he’s currently pursuing a PhD in Mathematical Biology at UC Irvine), Xie began comparing blockchain technology with what he had learned working for the social media management firm Sprout Social. Xie realized that blockchains could make payouts and transactions in advertising and marketing cheaper and more convenient. He believes that the transparency of blockchain technology makes it easier to spot ad fraud post-hoc, harder to get away with things like SSP arbitrage, and improves the bargaining power of advertisers and publishers in the digital advertising ecosystem. He also appreciates that it allows an easy way to transfer funds directly between advertisers and publishers without a central deposit.

“Of course, my views have gotten more nuanced,” admitted Xie. “I have learned that there are parties in the digital advertising ecosystem that do not want transparency. I am also of the opinion that the decline of standard web display advertising and anemic conversion rates of ads was a far larger problem than ad fraud in digital advertising.”

The first digital marketplace for native advertising

As their  roadmap states, Qchain has recently launched a demo for Qchain Native Direct Buy, the first piece of the platform. This part of the application will focus on creating a marketplace enabling simple and easy transactions of native ad units between content publishers and advertisers.

Xie said, “Native advertising buys are being conducted in an inefficient manner right now. Content publishers have large, unwieldy sales teams and have to do a lot of cold calls. Advertisers have to search for publishers and individually contact them to shop for native ads via phone, email or in-person meetings; they do not have convenient means of seeing available native ad units for sale in one place.”

Here is where Native Direct Buy comes in. Qchain aims to help solve these problems by providing a singular and accessible marketplace for advertisers and content publishers, such as BuzzFeed and Vox, to efficiently transact in native ad units. Blockchain technology, Xie pointed out, contributes to this idea by allowing advertisers to directly pay content publishers through cryptocurrency and potentially future tokenized fiat accounts, rather than going through a centralized deposit system. Additionally, Xie suggested that a Native Direct Buy on the blockchain is more feasible to execute in the short term than a prototypical ad exchange based on blockchain scaling problems that cannot handle high transaction volume.

Xie said that the company is also in the process of developing their second application, Qchain Surveys, which will provide an enterprise paid survey service for marketers, pollsters and academics to inform their research.

“We will add applications in the future as we see fit to fill out the platform and fulfill our aims of building an entire end-to-end ecosystem for digital marketers and advertisers to run their whole workflow on blockchain technology,” Xie pointed out.

Qchain also has taken the rare step of developing a ready-to-employ, fully tested platform in advance of their ICO campaign – an approach that runs counter to most blockchain projects whose white paper/website only campaigns have given the ICO scene a bit of a black mark.

Xie concludes: “We want to be an example of a sustainable, ethical company that grew from a legally compliant ICO. We want to make the sponsored content sales process more convenient and easy for content publishers, so that they can spend more time working on projects that also are not sponsored and satisfy their journalistic responsibilities.”

The post Qchain Charts New Native Advertising Roadmap appeared first on Bitcoin Magazine.

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