The Decent.Bet Blockchain Casino Is Delivering Technology Fast!

Doesn’t it seem to take forever for a new ICO to deliver on their promises? Decent.bet, the community-owned gaming platform, recently completed their ICO and has already delivered their DBET token wallet, three testnets and a new wallet update is right around the corner.  Is there any other cryptocurrency platform that has delivered faster?


Decent.bet is a community-owned, online casino and sportsbook platform that is built on the Ethereum blockchain. Their ICO ended less than three months ago, and since that date, the site has launched three testnets to their community. Decent.bet’s Slots testnet was released on January 3rd to a great popular reception.

Why Choose Decent.bet?

There are other gaming platforms available – even other blockchain-based gaming platforms – so what makes Decent.bet so special? Well here it is; they are the first and only community-owned platform that distributes 100% of its profits back to its shareholders. Imagine a Las Vegas or Macau casino operator invited you to invest in their casino and share the profits with you! Sound amazing? Well, now it is soon to be a reality.

Other features that make Decent.bet stand out include:

Full transparency – Decent.bet utilizes smart contracts on the Ethereum blockchain which allow users to review the smart contract source code and track all transactions made on the contract any time they want. This ensures fairness, accountability, and accurate game outcomes.

Users can be the house – Bets placed by users will always have the house to hedge against their bets. Decent.bet allows users to buy into the house fund and receive a split of the profits at the end of every quarter. The Decent.bet motto is “Our House is Your House” and it’s a motto that the team truly lives by.

Custom Technology – We found that the secret sauce in the Decent.bet plan is the unique technology they have developed. Players, of course, want a real-world experience while enjoying casino games.  That means quick response. The developers have built a solution that uses state channels to bundle the transactions and submit them to the blockchain in groups.  This both keeps gameplay moving quickly and saves on the Ethereum network gas fees.

White labeling – Decent.bet plans to open its API and custom houses on the platform to third-party providers. This would ultimately benefit users of the platform with initial house buyouts as they are required to be purchased with the DBET tokens, therefore increasing demand.

Testnet Releases

On January 3rd of this year, Decent.bet’s Slots testnet was released to great community reception and on January 15th, they launched their sportsbook and house testnets as well. The purpose of the testnet is to get user feedback and learn about any issues or concerns that may be identified.  Adrian Scott, Ph.D., said:

The main focus of the development team has been to build and establish an efficient backend technology to ensure a secure, solid and reliable platform. We are dedicated to improving and delivering the finest user experience we can, and focusing on the backend technology allows a real-world casino experience on the Ethereum blockchain with a minimum of potential lag time.

DecentBet Testnet

DBET Tokens and Blockchain Technology

DBET tokens themselves are one of the few tokens out there with true utility and gives users the opportunity to place a wide range of bets on the platform, as well as participate in the world-first “House-Fund”, the profit sharing profit sharing program that distributes 100% of profits back to the shareholders.

The Decent.bet platform is all enabled through blockchain technology built using the Ethereum blockchain, which allows for suitable platform development and maximum usability. In order to limit any potential delays on the blockchain itself, Decent.bet utilizes in-house technology to bundle transactions off-chain and ensure real-world gameplay experience on all of its offerings without the typical lag that can be associated with blockchain applications.

Decent.bet recently released version 1.1 of their wallet in the final quarter of 2017 and version 1.2 is set to be released soon. The wallet is available to download and supports Windows, Mac, and Linux.

All the latest features available on the Decent.bet gaming platform are ready for the community to install and try right now. Find out more at https://www.decent.bet/ or email support@decent.bet for an invitation to join the Slack community.

What appeals to you the most about Decent.bet’s platform? Have you checked out their Slots testnet? Let us know what you think in the comments below.


Images courtesy of Decent.bet

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Budbo – The Blockchain Solution For The Cannabis Industry

Budbo, the company whose immensely popular app has been dubbed “the Tinder of weed”, is now focusing on leveraging the power of the blockchain to help document supply chains and aid research by providing extensive transparent data. Their token sale is now live.


The current legalized marijuana industry is fragmented and marginalized, something that has led Budbo to identify a dire need for some form of systematic organization that also incorporates a transparency of operations. Enter the blockchain. Budbo aims to streamline the processes, supply chain, and logistics of the marijuana industry, bringing transparency to the ecosystem with the help of the Ethereum Blockchain.

By creating a data backbone for the cannabis industry, Budbo will be able to help stakeholders in the industry, government authorities, researchers, and all other interested parties gain useful industry insights.

Budbo Meets Big Data

Budbo Meets Big Data

Stakeholders in the cannabis industry, such as growers, manufacturers, and dispensaries, will all be able to contribute their data to the Budbo ecosystem stored on the blockchain. All data concerning the entire lifecycle of the product, from seed to smoke, will be recorded in an immutable ledger.

Among Budbo’s revolutionary range of products is Budbo Trax, a powerful logistics tool which allows for real-time GPS-enabled tracking of marijuana products – from grower to end-user, supported with verified bill of lading, proof of pickup and proof of delivery, all facilitating the effective monitoring of the marijuana industry’s supply chain.

Benefits of a Blockchain Based System

Benefits of a Blockchain Based System

With access to a database of crucial information about the cannabis industry, businesses can maximize their sales while government authorities can observe and examine the operations of the industry conveniently. Researchers and scientists will have a credible source of extensive data to draw upon for future research on marijuana.

With the help of blockchain technology, Budbo will take steps to ensure that businesses which are on board will comply with all local and state laws.

Budbo’s vision is one of a self-governing community of activists, patients, physicians, developers, artists, and enthusiasts all working towards the common goal of improving the cannabis industry through contributing votes, time, engineering and knowledge to the decentralized applications and network of Budbo.

The Budbo Token Crowdsale and BUBO Tokens

The Budbo Token Crowdsale and BUBO Tokens

Following Budbo’s successful pre-sale, during which 20 million BUBO tokens were sold, Budbo has now begun their token sale. The sale is currently in its Tier 1 stage, with each tier running until a set amount of tokens are sold. There are 5 tiers, with token prices ranging from $0.25 in Tier 1, limited to 15 million tokens, all the way to Tier 5 where tokens are valued at $0.35. What this means is that the sooner you invest the cheaper you can buy tokens. You can sign up to buy tokens here: https://portal.budbo.io/.

Budbo Crowdsale Token Distribution

About Budbo

Budbo was originally founded by Luke and Jacob Patterson, Budbo set out to better educate customers about the cannabis industry.  With very little marketing, they were able to grow their network to three thousand dispensaries and over 75,000 users.

As blockchain continued to revolutionize the way businesses operate, Budbo pivoted to bring it into their business model, merging with Rick Burnett’s LaneAxis. LaneAxis, a virtual freight management network, allows shippers and carriers to more effectively and efficiently transact all the intricate business details in moving freight.

Budbo positioned itself to become an enterprise solution for the cannabis industry, enabling everything from supply-chain management to compliance and regulation. In deploying BUBO tokens that serve as API keys to aggregate valuable data, Budbo can now provide actionable insights to growers, dispensaries, and consumers.

With their pre-sale complete, Budbo is quickly gaining momentum, already causing a real stir in the legalized marijuana industry.

Do you use Budbo’s app? Have you invested in their Token Crowdsale? Let us know in the comments below.


Images courtesy of Budbo, AdobeStock

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Possible Litecoin and Monero Merger Steps Closer To Reality

Charlie Lee admits his ambition to work with Monero in a series of tweets he posted yesterday, claiming that Litecoin’s liquidity would be a good fit for Monero’s anonymity and fungibility.


Monero (XMR) project lead Riccardo Spagni and Litecoin (LTC) creator Charlie Lee would appear to be taking tentative baby steps in potentially bringing their two coins closer. Spagni posted the following tweet yesterday, which first bandied the idea of a possible merger between the two cryptocurrencies:

The Lite Side

Lee, who has professed a desire for increased anonymity in the past with regard to Litecoin,  was quick to respond in his own indomitable manner with his own series of tweets:

The above tweet highlights what is quickly becoming the future direction for cryptocurrency: on-chain atomic swaps, where two different coins can theoretically be exchanged in a secure and instant manner. On-chain atomic swap technology is set to revolutionize the current crypto industry, as it was enabled by the recently enacted SegWit changes that Litecoin first tested and Bitcoin finally adopted late last year. Lee went on to elaborate on his ambition to see Monero’s unique anonymity and fungibility complement Litecoin’s liquidity:

Charlie Lee’s Past Merged Mining Partnership With Dogecoin

dogecoin

It would not be the first time that Charlie Lee has reached out to other coins for cooperative opportunities. He previously helped saved an ailing Dogecoin through allowing the two coins to be mined together. This was in the early days of pool mine swapping, where mining pools would switch to mine the most profitable coin at that precise time. Litecoin was able to offer Dogecoin a life raft while also introducing the insular community to Litecoin and the wider world of crypto.

Litecoin Controversy

Lee: I'm Not Quitting

Charlie Lee recently made headlines with his move to separate his own financial interests from the Litecoin community by selling his entire share of Litecoins. This was widely seen as him abandoning his own coin.

Selling his stash was a PR move that turned very wrong for Lee in the fickle world of crypto. Lee had previously been seen as providing a strong guiding hand for the crypto community as a whole by overseeing the implementation of SegWit on Litecoin and later Bitcoin. This was a feat that involved persuading the interests of large mining operations. Much of the goodwill he had built up was brought down by accusations of self-interest and of losing faith in his own coin.

If the Monero partnership goes ahead, it would save a lot of development time for Litecoin, which has its own foundation, to which Lee contributes. Yet, in turn, the development burden mentioned in Lee’s tweet would also fall to Monero as well.

Are you a Litecoin owner? Would a partnership with Monero be something you would like to see? Let us know in the comments below.


Images courtesy of Bitcoinist archives, Twitter/@SatoshiLite, Twitter/@fluffypony, and Pixabay.

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Devery.io Token Sale Reaches $10 Million Target Within 17 Seconds

Devery.io, the developers of the Devery Protocol, is set to provide a decentralized verification platform, marking and tracking items over the Ethereum blockchain. Their Token sale reached their hard cap funding target within 17 seconds.


Devery.io, founded by Andrew Rasheed, held their token sale on January 12 this year and was able to reach their targets without any institutional funding whatsoever, something they actively rejected as being unfair to the broader range of contributors.

The presale discount was a maximum of 5% with a 1% referral program. They did not change their discount even though they were offered multiple millions of dollars in contributions, focusing on making the token sale fair for all contributors. On reaching their token sale targets, Devery released the following tweet:

Devery’s Vision to Document Supply Chains and Battle The Counterfeit Goods Industry

The Devery.io project focuses on the global e-commerce market, which is worth trillions of dollars annually. One of the major issues related to e-commerce is trust – consumers simply have to trust that the items they sold are as described, whether that be size or that the item is genuine.

Counterfeit goods account for billions of dollars in lost revenue for companies per year. Devery.io is aiming to change this by allowing a transparent supply chain, and item tracking. All this would be done through Devery’s innovative protocol and application, Devery ensures that customers receive the goods they are actually promised, tracked across the entire supply chain to guarantee it.

Devery's Vision to Document Supply Chains and Battle The Counterfeit Goods Industry

Businesses can mark their products with unique identifiers stored and distributed via EVE tokens to verify products across their entire supply chain, helping them to maintain their brand and products. Retailers and consumers can also verify their products and their authenticity with the token’s unique markers. Devery’s goal is to provide the de facto product verification standard for online goods.

Devery CrowdSale and EVE Tokens

Devery launched their crowdsale on January 12, 2018, reaching their hard cap of $10 million within 17 seconds.

The total supply of 100 million EVE tokens have been distributed as follows:

  • 60% through their the crowdsale
  • 20% held in Devery reserves
  • 15% allocated for founders and advisors
  • 5% held for future contributors to the project

Devery CrowdSale and EVE Tokens

What Is Next For Devery?

In 2018 the company is focused on exchange listings, onboarding partnerships, and launching a live trial of the system with customers using their software sometime in Q1. Version 1.0 of their software, featuring the Devery Protocol is expected to be released in Q3. Their focus into 2019 and beyond will be expanding their partnerships and assisting with the development of verification applications tailored for specific markets.

For more information about Devery, please visit devery.io and download their project whitepaper. To take part in the Devery.io crowdsale, click here.

Do you invest in ICO’s? Will you be investing in the Devery ICO? Let us know in the comments below.


Images courtesy of Devery.io

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New Study Finds Less Than 1% of Bitcoin Transactions To Exchanges Are Illicit

A new report that analyzes illicit transactions conducted on the blockchain has determined that less than 1% of all Bitcoin transactions are criminal in origin.


Elliptic, a UK based cybersecurity firm specialized in creating tools to identify criminality associated with blockchain related transactions, has released a report analyzing the global Bitcoin market with a focus on money laundering.

The results somewhat surprisingly find that the much-hyped criminal elements involved in Bitcoin appear disproportionately small, amounting to less than 1% of all Bitcoin transactions. Another surprising fact discovered in the report was that illicit Bitcoin transactions were again disproportionately made to European sources.

The Report

The research paper identifies the fraction of all transactions that consist of illicit payments here, emphasizing how the figure has fallen from just over 1% in 2013:

According to our study, the total percentage of identified ‘dirty bitcoins’ going into conversion services was relatively small. Only 0.61 percent of the money entering conversion services during the four years analyzed were verifiably from illicit sources, with the highest proportion (1.07 percent) seen in 2013.

In regards to the global distribution of illicit transactions, it was found that even though only a quarter of total transactions were made in Europe, they accounted for a much higher percentage of illicit activity:

Roughly a quarter of all incoming transactions went into Europe in 2015 and 2016, but 38 percent and 57 percent of all illicit transactions, respectively, went to European services during those years. Thus, Europe hosted a disproportionate amount of illicit activity.

The Findings

Equifax Hackers Demand a $2.3 million Bitcoin Ransom ‘Or Else’

The report’s findings are sure to benefit the reputation of Bitcoin, at least in terms of actual facts. The terms of how illicit money can be measured may be ambiguous, however, after the myriad of Bitcoin ransomware attacks, such as Wannacry, making the headlines, there are channels of illicit transaction that can be followed.

Identifying money laundering and crimes associated with the funding of terrorism are sure to be a focus for investigators, but evidence presented in the Elliptic’s report suggests that Bitcoin criminality would appear to have been exaggerated.

What do you think to Elliptic’s findings?  Let us know what you think in the comments below.


Images courtesy of Pixabay, Shutterstock

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Sweden Set To Become First Economy To Introduce Own Cryptocurrency

Sweden’s central bank, the Riksbank, is looking at launching a national cryptocurrency called the e-Krona in as few as two years.


Sweden’s position as potentially the world’s first cashless society has lead to a research note, written by HSBC economist James Pomeroy, entitled “Sweden’s big year: Can the economy overcome some challenges?” to identify the country as looking for international cooperation in developing an officially-sanctioned cryptocurrency. The note reads:

The so-called e-Krona will have to be able to be used for small purchases, as a claim on the Riksbank and be accessible by companies, individuals and financial institutions at all times.

Sweden’s Riksbank has very much been at the forefront of monetary advances over the years, as their governor Stefan Ingves is eager to point out:

It was in Stockholm that the first modern banknote was created more than 350 years ago, and that it is here, in Sweden, that cash is currently taking its last breaths. Perhaps the Riksbank will be writing history again.

How the e-Krona Might Be Managed

It is speculated that the e-Krona would work by either having it work like cash currently does, with value stored on an app or card rather than a central database, or it could be in a registry-based system with the e-Krona stored in accounts held in a centralized database.

Pomeroy writes:

This is more complex, but may make the framework easier to expand and develop over time, and would likely require the use of blockchain technology.

The system would be fraught with interesting technicalities and nuance for fans of cryptocurrency. A key element of what cryptocurrency offers is protection against scrutiny that cash payments currently afford, giving consumers security in the knowledge that their very private information is not being gathered and sold by third parties in order to profile them as customers or as a potential customer/product for others.

Modern Day Privacy Concern

It’s an issue that cashless societies are now facing, where every transaction can be tracked in minute detail and painting very revealing pictures of your personal life. This is where cryptocurrencies, such as Bitcoin, shine. Cryptocurrencies can provide the same level of day-to-day anonymity that cash provides in an age where societies are essentially cashless. HSBC economist James Pomeroy notes that the Riksbank has:

…issued a number of research articles on the topic, with the suggestion being that as cash usage continues to dwindle, the central bank may need to find another way to provide their populations with access to payments that are not via an intermediary such as a retail bank.

A reassuring element appears to be that banks realize that centralized intermediaries may not be in the best interests of their customers or their data security concerns. They also realize that their future as a whole is threatened unless they adapt and keep apace with rapid Fintech developments in the world of finance.

Do you still use cash? Do you see cryptocurrency replacing it? Let us know in the comments below.


Images courtesy of Bitcoinist archives and Pixabay.

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IBM Partners With Shipping Giant Maersk To Launch Blockchain Solution For Global Logistics

The joint venture aims to revolutionize the global shipping industry with blockchain technology at its heart.


IBM, in partnership with Maersk, is launching their own blockchain based solution to the complex world of the global shipping trade, the joint company the two giants have formed is so far unnamed. The aim of the initiative is to simplify the complex process of transporting goods across the worlds myriad of disparate trade zones. The system, based on a blockchain developed in-house by IBM, has two key goals;  providing a shipping information pipeline with a real-time and completely transparent view of merchandise movement, the system is all based on the concept of smart contracts replacing the currently complex and labor-intensive paperwork process. The initiative was first trailed in 2016.

In a press release published earlier today, Maersk said:

More than $4 trillion in goods are shipped each year, and more than 80 percent of the goods consumers use daily are carried by the ocean shipping industry. The maximum cost of the required trade documentation to process and administer many of these goods is estimated to reach one-fifth of the actual physical transportation costs. According to The World Economic Forum, by reducing barriers within the international supply chain, global trade could increase by nearly 15 percent, boosting economies and creating jobs.

Planned Launch and Industry Reception

Supply Chain Shipping Containers

Michael J. White, CEO and former president of Maersk Line in North America, announced:

The pilots confirmed our expectations that, across the industry, there is considerable demand for efficiency gains and opportunities coming from streamlining and standardizing information flows. Now this work has progressed to a point that a beta version involving all players of the ecosystem along a specific trade lane can be launched. That is why we intend to create the joint venture – to take these solutions to market.

Feedback from blockchain specialists has been positive with Bill Fearnley, Jr., research director for blockchain strategies at market research firm IDC stating:

Supply chain is a very, very hot topic right now and it is only accelerating from here.

Fearnley believes that IBM and Maersk’s new company will have a competitive advantage over smaller blockchain startups angling for the same market due to the pre-established business relationships of the companies behind it.

Blockchain Tech Outside of Bitcoin

Blockchain Tech Outside of Bitcoin

IBM’s ventures outside of well-established models like Bitcoin’s blockchain, set apart by their more centralized nature, present potential security issues compared to Bitcoin’s wider decentralization but it remains to be seen how the impact and success of privately run blockchains will measure up to their innovative big daddy Bitcoin.

White is expecting the joint Maersk-IBM venture to get regulatory approval in early spring and begin selling software subscriptions by the third quarter of 2018. At the time of press, the new company is busily assembling an advisory board of industry and government officials in order to push product development to fruition.

With Bitcoin already a dominant platform for Blockchain, would it be possible to persuade businesses to use Bitcoins’ secure decentralized blockchain? Let us know what you think in the comments below.


Images courtesy of  Shutterstock

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Japan’s Largest Financial Group To Launch Own Virtual Currency

Mitsubishi UFJ Financial Group (MUFG) is launching an initiative to open a new exchange and issue its own virtual currency: the “MUFG coin.”


By controlling the exchanges themselves, MUFG plan to suppress fluctuations in the price of MUFG coins in order that they can be used stably for settlement and remittance. The MUFG coin, due to their distribution being made available on a centralized exchange, can be directly overseen by the bank. In addition, the bank can also control the value of the coin, which is aiming to be worth approximately 1 yen. Users can then use these coins, accessed from their smartphones, to pay for goods and services in a secure fashion.

MUFG is aiming to increase adoption with suppliers and retailers throughout Japan for the payment platform and is aiming to launch later in the year. The move demonstrates how cryptocurrencies and blockchain tech are slowly being realized by traditional financial institutions, who are eager to benefit from the reduced operational costs that virtual currencies can offer.

Legislative Hurdles and Financial Regulation

MUFG has already notified the Financial Services Agency on their plans to issue coins and open an exchange. Bank of Tokyo-Mitsubishi UFJ will make full preparations for the MUFG coins issuance, with plans to organize contests to generate ideas for business usage of the MUFG coins in March.

In order to establish a virtual currency exchange in Japan, it is obligatory to register with the Financial Services Agency, and there are still some hurdles left. As the Fintech industry continues to grow, further legislation for responding to new services like MUFG will continue to be developed in the country. Bitcoinist previously looked at the state of the Fintech industry in Japan here.

Online Responses To The MUFG coin Announcement

Users took to Twitter to voice their opinions on the upcoming coin launch. They were quick to point out that the MUFG coin is not OMG and that the price is to be capped at 1 yen per coin.

The Mitsubishi UFJ Financial Group, headquartered in Chiyoda, Tokyo, is Japan’s largest financial group and is the 2nd largest bank holding company in the world, holding around $1.8 trillion USD.

Will we see increasing cryptocurrecy initiatives such as this, with centralized banking controls? Do they offer the same degree of security as other decentralized cryptocurrencies? Let us know what you think in the comments below.


Images Courtesy of Bitcoinist archives, Twitter/@iamjosephyoung, Twitter/@btc883n, Twitter/@ETHtrenpreneur, and Pexels.

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UK Bitcoin Investors Denied Mortgages To Buy Homes

Bitcoin investors in the UK have reportedly been facing issues with acquiring mortgages with their profits, as Banks refuse or are unsure how to deal with funds derived from cryptocurrency.


As Bitcoin prices rise, so do investor profits, and if a report from the UK’s The Sun newspaper is to be believed, it appears as though investors could potentially have trouble when it comes to securing a mortgage with their Bitcoin money. Some banks in the UK appear to be showing a reluctance to deal with Bitcoin profits, especially when it comes to providing audit trails.  Another complicating factor appears to be a lack of understanding of cryptocurrency in the mortgage industry in general.

Broker Mark Stallard, of House and Holiday Home Mortgages, recounted:

The first mortgage lender I rang asked me what a cryptocurrency was. I rang two other lenders and they said they would not touch it. When I mentioned where the money had come from there was massive reluctance to help or understand the problem. I do not believe the mortgage providers in general are ready for this issue and research tells me that a lot more people will be knocking on our doors with funds made or raised in this fashion.

Acceptance May Depend On The Banking Institution

Acceptance May Depend On The Banking Institution

Several building societies said they would not accept deposits derived from cryptocurrency, while banks including Santander, Nationwide, and Aldermore said they had no formal policies in place. Nationwide previously made headlines in the cryptocurrency space when it was announced that Coinbase would no longer be accepting deposits from the bank.

The Building Societies Association stated:

There is currently no regulation of these electronic currencies, which puts them into the highest risk category in relation to money laundering. In addition, it is well known that such currencies are popular with criminals, who use them to launder the proceeds of crime.

The “everyone knows that bitcoin is used by criminals” argument is especially ironic in this case, given that several prominent UK banks – including HSBC, Royal Bank of Scotland, Barclays, and Coutts – were investigated last year for possible money laundering connections.

Not all mortgage lenders in the UK have adopted anti-cryptocurrency policies, however. Several lenders, including The Coventry Building Society, Skipton, and The Yorkshire Building Society do accept deposits derived from bitcoin profits although they generally require extensive audit trails and proof of identification to establish provenance.

Bitcoin investor Max Wilde said:

Cryptocurrency has become the cash grab of our generation. There are a whole group of over 50s who don’t understand what cryptocurrency is and went from laughing at it to being worried by it and assume that in some way it’s dodgy or illegitimate. It’s ludicrous.

Elsewhere in the world, the real estate market seems to be a bit more open to cryptocurrencies. As Bitcoinist previously reported, properties in the United States, including a 9,500 square foot mansion in Miami, are being sold for Bitcoin and in Dubai, British property developer Aston Property Ventures began accepting Bitcoin as a payment option for its properties.

Have you bought property with Bitcoin? Did you have any issues? Let us know in the comments below.


Images courtesy of Pexels, AdobeStock

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Etherbanking – Changing Your Mind on Banking

Etherbanking launched in August 2017 as the world’s first automated banking application with E-Smartcontract technology with an aim to “change your mind on banking.”


Etherbanking has already emerged as a successful cryptocurrency lender, with the team garnering over 100,000 members in their first 3 months of operation. Their ICO launches on the 10th of January 2018, where they shall be issuing 5 million EBC tokens, each with a starting price of $10.

Etherbanking’s Vision

Etherbanking envisions a bank with no branches, staff, or offices. Think of the way Uber works as a company without owning any cabs, or Airbnb without owning property. Etherbanking is keen to create a financially efficient system that benefits from the Ethereum blockchain, eliminating unnecessary costs that exist in traditional finance.

One of the unique features of the blockchain is that it removes the need for expensive third parties or pre-existing infrastructure that must be relied upon. Third parties also present a security risk, making blockchain transactions and confirmations far more secure. Etherbanking is looking to create a decentralized network of users to support and profit from the Etherbanking ecosystem.

Etherbanking allows anyone to become a miner and earn rewards from using a stake-based Proof of Stake (POS).

The Etherbanking Ecosystem

Etherbanking exists in an ecosystem composed of 5 specific components: the E-banking system itself, the Etherbanking App, the EBC Exchange Platform, The EBC-pay payment gateway, and the E-Smartcontracts.

E-banking offers a safe loan club for users, group savings, community mobilization aimed at allowing users to transfer capital with the community alongside smart contracts that help define the requirements of a transaction on behalf of both participants. Open fund certificates will be offered, allowing users to invest, with liquidity. Smart Insurance policies aim to revolutionize the insurance industry, allowing well-defined policies that result in instant payment to customers upon the conditions of insurance being met.

The Etherbanking App is set to be a multi-currency, all in one bank that will allow a user to easily swap between currencies as required.

The EBC-Exchange will be a multi-currency global trading platform using EBC as the currency that drives all transactions. The platform aims to provide an EBC token doorway to a multitude of currencies, in much the same way that Bitcoin is currently used as a predominant trading pair to other cryptocurrencies.

E-Smartcontracts. Etherbanking recognizes that smart contracts present barriers to users, especially in regard to how they may be specifically be programmed, therefore Etherbanking have developed their own propriety software allowing smart contracts to be completed with an array of pre-existing template options. To make this system secure Etherbanking will be using 2FA security and biometrics such as fingerprint, retina and facial recognition technology.

EBC-pay is the part of the Etherbanking ecosystem that acts as a secure, payment gateway. Transactions will cost 1% per EBC, just a third of the price of credit card payments. Etherbanking is already promoting this method of payment with leading e-commerce channels, and as a member of the system, you will have access to this payment method.

Etherbanking App

The ICO

On January 10, 2018, Etherbanking begins its ICO, issuing 5 million EBC tokens from a total of 33 million. Each token begins at a $10 value, with coins divided into 11 blocks, each block contributing a $1 increase.

For each EBC purchase, investors will be rewarded with an Etherbanking bonus of shares when they are issued. There will be 5 packages on offer to investors:

  • Start: $ 100 – $ 1000 to be rewarded with 1% EBC
  • Basic: $ 1050 – $ 5000 is awarded to the 3% EBC
  • Standard: $ 5050 – $ 10,000 rewarded with 5% EBC
  • Advance: $ 10,050 – $ 50,000 is awarded to the 7% EBC
  • Premium: $ 50,000 – $ 100,000 rewarded with 10% EBC

Etherbanking plans to provide commissions paid in cash, with a bonus structure consisting of 16 levels enabling investors to maximise their investment. Etherbanking has set its sights on the EBC coin becoming one of the top 10 global cryptocurrencies. 

For more information about Etherbanking please visit etherbanking.io and download the project’s whitepaper. You can find out more about their ICO here.

What do you think of Etherbanking’s vision of a truly decentralized bank? Let us know in the comments below.


Images courtesy of Etherbanking

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