Tag Archives: Blockchain

Blockchain Solutions To Improve Government Schools Says Indian IT Minister

Blockchain Solutions To Improve Government Schools Says Indian IT Minister

Recently the Indian Telecoms and IT Minister,

Ravi Shankar Prasad has tasked the NIC (National Informatics Centre) with the development of a Blockchain-Based solution for a sheer cause of improving the quality of the government schools. As per the reports on the 20th of Jan by the Press Trust of India, the minister has already made the request at the Blockchain Technology Excellence that has been set up in Bengaluru on the 18th of Jan. Since the blockchain technology has been challenged to transform education taking further action on this the NIC and local state authorities have opened their doors for startups to work under certain predefined norms.

While adding further to this Ravi Shankar Prasad added:

“I am very keen on how we can leverage blockchain in primary education. In fact today I am going to give you a task, NIC team. Can you think of a good application of blockchain technology for improving the quality of government schools all over the country?”

Tho he agreed that both private and government schools are good but he believed that leveraging the blockchain technology could be a transformational change in the field of education. The startups, as usual, would play the key role, as India alone is home to around 26,000 start-ups, having 9,000 alone in the tech sector, therefore Prasad urged NIC to develop such a mechanism so as to include these start-ups in its technology space since NIC has turned out to be a good patron of the startup movement. Although the Indian authorities are getting behind in the field of blockchain technologies as the cryptocurrency has had a bumpier ride in the country.Harsh Sangwan is a Crypto enthusiastic, Bitmex Trader, Blogger and Youtuber. Love to write about market conditions and forecasts.

Article Produced By
Harsh Sangwan

https://bitcoinik.com/blockchain-solutions-to-improve-government-schools-says-indian-it-minister/

Thomas ClaimCo.in

US Beer King Anheuser-Busch Invests in Blockchain to Help the Unbanked

US Beer King Anheuser-Busch Invests in Blockchain to Help the Unbanked

The king of beer in the US and parent company to Budweiser has announced a new investment into blockchain

technology that will help farmers improve their efficiency. Anheuser-Busch InBev, which holds a market cap of $143 billion and $54 billion in annual revenue, is looking to get into blockchain in a big way. On June 7, the publicly traded company announced an expansion of its Series A investment into BanQu, a Minnesota-based startup working to create blockchain products for global supply chains.

BanQu describes its targeted base of farmers, miners, and other workers as frequently overlooked in discussions of improving the efficiencies based on supply chains. BanQu describes this group as the ‘last mile’ of the chain, who often don’t qualify for bank accounts and are the mercy of expensive and inefficient middlemen to bring their raw materials to market. Anheuser-Busch InBev describes its investment into blockchain as returning to the roots of the technology. While blockchain has seen adoption by financial and tech goliaths such as Vanguard and IBM, AB InBev claims a desire to use blockchain to help the unbanked populations of the world. Maisie Devine, a director at Anheuser-Busch InBev, explained the company’s philosophy on

investing in blockchain,

“Through this work, we are helping to create a digital ledger of farmers’ transactions that will create an economic identity and enable access to financial services. This will ultimately allow farmers to grow their business and improve the livelihoods of their families and communities.”

Anheuser-Busch InBev joins the growing list of companies expanding into the sector of blockchain as a way to improve upon their existing technology. While some have maligned blockchain for its close association with crypto, others have found the technology preferential. AB InBev instead sees an opportunity to improve upon supply chains and provide for unbanked populations that stand to benefit the most from the improved transparency of the blockchain. The World Bank estimated that 1.7 billion people were unbanked in 2017, creating a substantial market for cryptocurrency and blockchain in the event the technology is able to reach mass adoption.

Ripple, the parent company to third-largest crypto XRP, has outlined their desire to work with countries such as India and Brazil that could benefit greatly from access to cheap and secure remittance. Stellar Lumens and XLM have also done substantial work as a nonprofit organization to provide for unbanked populations across the globe. While there are limitations in access and a great degree of complexity involved in blockchain and crypto, the technology can improve operations in regions of the world that have less accessibility to financial institutions. AB InBev and BanQu see an opportunity to both increases the transparency of supply chains moving goods around the world while also substantially reducing costs for those who already have limited access to funds.

Article Produced By
Michael Lavere

https://cryptocrimson.com/anheuser-busch-blockchain-2019/

Thomas ClaimCo.in

Blockchain Collectibles Start Selling for big Money

Blockchain Collectibles Start Selling for big Money

Digital collectibles on the blockchain have proven to be of great value. So much even that actual collectors are willing to spend a fair bit of money on them.

For most, blockchain collectibles remain a niche market.

The Power of Blockchain Collectibles

While it provides a different flair, it is not necessarily something that makes people money. When it comes to NFTs, however, that situation may change fairly soon. This week, a collector bought the “EXCHANGE THE WORLD 2019” NFT created by Binance. The transaction was settled on the ethereum blockchain for a price of 29.8 ETH, or nearly $5,000 at today’s ether price. It is certainly interesting to see how these digital collectibles are changing hands for larger amounts of money.

One can also understand the appeal of completely owning a digital art object, something that hasn’t been possible until blockchain technology gained traction. It is worth noting that this asset created by Binance is not unique. A second token was still available at the time of writing for a price of 50 ether. Given the limited quantity, the price of these blockchain collectibles may increase if they would ever be resold. The question is whether any of the buyers will be inclined to do so. Blockchain collectibles serve no real purpose yet, but it is certainly an intriguing market for enthusiasts.

Article Produced By
JP Buntinx

https://cryptomode.com/blockchain-collectibles-start-selling-for-big-money/

Thomas ClaimCo.in

Chinese President Sparks Big Bitcoin Price Gains with Bullish Blockchain Speech Comments Off on Chinese President Sparks Big Bitcoin Price Gains with Bullish Blockchain Speech 1017

Chinese President Sparks Big Bitcoin Price Gains with Bullish Blockchain Speech Comments Off on Chinese President Sparks Big Bitcoin Price Gains with Bullish Blockchain Speech 1017

Chinese President Xi Jingping supports the blockchain and says the Chinese government needs to do more in terms researching and investing in the blockchain, according to South China Morning Post.

Xi is also the general secretary of the Communist Part of China Central Committee and chaired a meeting on the subject with other advisors taking part. Xi believes blockchain “will play an important role in the next round of technological innovation and industrial transformation”. “Major countries are stepping up their efforts to plan the development of blockchain technology. Greater effort should be made to strengthen basic research and boost innovation capacity to help China gain an edge in the theoretical, innovative and industrial aspects of this emerging field.”

What Xi’s Thoughts did to the Bitcoin Price

In just the last five days, the price of Bitcoin is exploding. It now stands at $9,360.67 after starting the trading day on October 24th, 2019 at $7,474. That’s a price gain of over 21%. The price briefly got up over $10,000 throughout the weekend before bouncing down to where it is today.

Is The Government’s Stance on Cryptocurrency Changing?

China banned an initial coin offering for a cryptocurrency exchange in 2017. The country wanted to curb enthusiasm around crypto to protect consumers in theory. China used to be the world’s largest influence on Bitcoin trading volume but that’s since changed because of the regulatory crackdown. However, the country still does maintain a major influence in the cryptocurrency mining space.

So while it’s nice to hear Xi extolled the virtues of the blockchain, the reality is the Chinese government has a history of tightly controlling what its citizens can and can’t do when it comes to money, politics and social issues. That in fact is part of the reason that China had such a stranglehold on Bitcoin trading volume is that Chinese people have the desire to keep their savings out of the hands of the government. Most Bitcoin and blockchain enthusiasts know that a big portion of the transactions that go through the world’s most valuable blockchain are the result of people trying to escape oppressive regimes.

Hyperinflation in Venezuela

The International Monetary Fund estimates that the inflation rate of the Venezuelan Bolivar will reach a staggering one million percent by the end of 2019. While Bitcoin’s price worldwide is usually listed on charts in comparison to the American dollar, that doesn’t mean that everyone gets access to Bitcoin at the same standard price. It’s estimated that the price of Bitcoin in Venezuela is doubling every single day.

That sounds huge and it is, but when the price of the local fiat currency is exploding by a million percent per year, it makes sense to put that money into Bitcoin as quickly as possible. Scarcity = value, and if people converting the Bolivar are lining up at Venezuelan exchanges all at the same time, it only makes sense that the price will continue to skyrocket. When a handful of countries experience the same thing, the overall volume being traded and acquired on the international market goes up.

Greece’s Government Debt Crisis

Known as The Crisis, Greece’s problems ironically stem from the same 2008 Global Economic Crisis that sparked the invention of Bitcoin and the blockchain network. The Crisis led to citizens quickly becoming impoverished. Overall, the situation in Greece surpassed the U.S. Great Depression as the longest recession on record. During this time, bond yield spreads have grown further and further apart and the government’s debt reached nearly 300 billion Euros, causing risk insurance and credit default swaps to rise in price, creating a whole system of growing debt. Of course this led to more and more people searching for alternative ways to store value. This meant Greeks began putting money into traditional and digital gold, or Bitcoin.

One Other Potential Reason for Bitcoin’s Recent Surge

Bakkt is a Bitcoin futures exchange most serious traders were really excited about earlier this year and even going back to 2018. As soon as it launched, enthusiasts expected Bitcoin to go all the way to the moon. It’s just happening now, a little bit later than anybody thought it would. Just in the last 24 hours, trading futures contracts on Bakkt has gone up 260%. This is all in anticipation of future events related to innovation in China. What comes from Xi’s comments in the long term remains to be seen, but for now it seems the market is already pricing in potential.

Article Produced By
Jack Choros

https://cryptoradar.org/chinese-president-sparks-bitcoin-price-gain/

Thomas ClaimCo.in

National Chinese BSN Blockchain Network to Become Commercially Available in April

National Chinese BSN Blockchain Network to Become Commercially Available in April

 

Following the speech of Xi Jinping on the importance of embracing blockchain technology,

China went on a spree of development to establish a nation-wide blockchain network. Now, following a report published on January 3rd, we have more information about the future of the BSN network. These latest updates are more of a recap of what has happened, and a showcase of what’s to come. Information released during the China Urban Governance and Innovation Forum suggests that the open beta of the project is open for 400 companies and 600 developers, with the city of Hangzhou being the first one to pilot the blockchain network and applications, according to Tang Sisi, deputy director of the Smart City Development Research Center of the National Information Center.

In addition, the information further cements the 6 month beta period which ends in April. During this beta period the network, hosting, and all infrastructure will be free for companies and developers. The expected annual costs for hosting a dapp on this network will be $260-$390 USD after the beta period ends. As noted before, the BSN network will only support permission-based blockchains divided into enterprise and private chains. For now, there are no indications that the network will support any public chains, due to the lack of control mechanisms capable of monitoring and moderating the activity on the network.

All in all, the promises that the BSN network makes for the Chinese economy are outstanding. If correct, this can lower the cost of LAN-style network connections between partners by 97%, provide a platform for blockchain developers to share and sell tools, and open up blockchain technology for the small and medium enterprises. These latest updates conclude that the testing results from the blockchain implementation record slow speeds, and point to the fact that we are at a moment in time of proper standardization of blockchain applications, particularly as it relates to the ambitions of the Chinese government. If they are successful, the Chinese will be the first nation in the world to have a blockchain network capable of managing all of the administrative workload, increasing productivity, and reducing the amount of effort necessary to enforce and maintain compliance with local laws. It’s safe to predict that the Chinese Social Credit System will also become a blockchain app, especially if these initial tests show promise. It’s unavoidable that the Chinese government will seek to use blockchain technology to further increase the amount of control they possess over their citizens.

Article Produced By
Zoran Spirkovski

Copywriter, Journalist, Blockchain Enthusiast. Writing with Crypto-News.net since 2016. Loves to travel and experience different cultures. Highly ambitious and with an ever-increasing attraction towards quality work, products, services, and experiences. You can find him on Telegram where he has been known to spend his time making friends, and doing business.
 

https://www.crypto-news.net/national-chinese-bsn-blockchain-network-to-become-commercially-available-in-april/

Thomas ClaimCo.in

Ripple CEO amp Team Speak Their Hearts Out on Blockchain in 2020

Ripple CEO & Team Speak Their Hearts Out on Blockchain in 2020

Ripple Executives share their views on Crypto Industry

in the last decade in the latest Ripple Drop episode. The team also spoke about their predictions in 2020. The festive holiday episode of Ripple Drop had CEO Brad Garlinghouse, CTO David Schwartz and their VP Breanne Madigan speaking their hearts out about crypto and blockchain in 2020.

Ripple Executives’ Take on Blockchain

Ripple CEO Brad Garlinghouse believes that the crypto industry is going to be consolidated into fewer cryptos as

the world does not need 3000+ crypto. 

“I think you are gonna continue to see consolidation. Yeah, the world doesn’t need 3,000 plus cryptocurrencies out there, and I think the utility will bear out that there will be a migration to quality if you will.”

Moreover, Quality migration is what he sees in the coming future he adds. CTO David seems to consider blockchain having newer use cases. These cases might provide

a solution to actual problems.

“I think we’re going to see more growth of blockchain into different use cases. I think the focus is going to be can you solve an actual problem, not do you have a solution that someone might be able to use for something.”   

Ethan Beard, the SVP of Ripple’s investment arm Xpring, is convinced that blockchain and crypto could potentially replace the global financial infrastructure. While VP Breanne believes that the banking and financial sectors will adopt blockchain in 2020. On the other hand, Marcus Treacher seems too convinced that Blockchain will be integrated into most of the technologies leading to an Industrial revolution. This announcement created a stir of excitement on Twitter. Many supporters of Ripple came forward to stand forth with the executives’ statement. Well, 2020 seems to be an exciting year for Ripple executives. The team has a lot of hopes on the blockchain. Only time will tell whose prediction comes true. But its interesting to know what such great influencers think of the crypto industry. Isn’t it? Let us know your views on Facebook and Twitter pages.

Article Produced By
Qadir AK

Qadir Ak – Co-founder of Coinpedia Blog – His interest as crypto Author, Editor, Speaker at cryptocurrency conference has made him known as passionate blogger and startup in Asia.

https://coinpedia.org/news/ripple-team-speaks-about-blockchain-2020/

Thomas ClaimCo.in

Over 10000 Participants Expected to Attend Chain2020 Blockchain Initiatives Event in Hong Kong

Over 10,000 Participants Expected to Attend Chain2020 Blockchain Initiatives Event in Hong Kong

8th January 2020, Montenegro – Over 10,000 participants are expected to attend the Chain2020 event,

which is set to take place in Hong Kong on January 15, 2020. The event is organized as a series of educational conferences focusing on Blockchain and FinTech technologies and related subjects for entrepreneurs, government officials and individuals seeking to integrate and promote the use of alternative financial technologies in the global economy. The Chain2020 event will be featuring a broad range of conferences hosted and presented by more than 35 internationally recognized experts and speakers. Some of the prominent attendees scheduled to speak at the conference include:

  • Zoran Djikanovic, PhD, Professor of Economics at UDG, author of several papers on regulation and market infrastructure development
  • Susan Oh, recipient of The Quantum Impact Award in partnership with the UN General Assembly as one of the Top Ten Frontier Women in Digital
  • Richard Chen, technologist with vast experiences in successfully building internet applications, big data and AI and blockchain technologies
  • Dinis Guarda, author, academic, influencer, serial entrepreneur and leader in 4IR, AI, Fintech, digital transformation and Blockchain
  • Susanne Tarkowski Tempelhof, award-winning entrepreneur, a crypto activist and writer, working in frontier environments

The Chain2020 event is specifically being organized in the Asian region to attract the attention of the region’s population to the use of blockchain technologies and cryptocurrencies and increase the level of education and awareness about their application. The organizers of the event are confident that the series of conferences will help bolster awareness about the technologies and promote their penetration into various areas of social and business activities.

Chain 2020 offers a series of educational conferences promoting blockchain in the Asian region, aiming to become one of the key players locally and on a global scale. The mission of the event is to become a comprehensive source of blockchain knowledge, enhancing mass adoption of the new technology in the region, and become the most influential and mind-captivating platform aiming to create connections and partnerships that will have a long-lasting impact on the industry. The organizers of the event seek to advocate blockchain initiatives in ASIA and support mass adoption of the technology to advance business, science, and society

Article Produced By
Bitcoin Press Release

https://bitcoinprbuzz.com/over-10000-participants-expected-to-attend-chain2020-blockchain-initiatives-event-in-hong-kong/

Thomas ClaimCo.in

SFUNDING The Leading Utility Blockchain platform

SFUNDING – The Leading Utility Blockchain platform

Integrating Smart Contract feature,
SFUNDING was launched as a pioneering Utility Blockchain platform project
.

It offers a favourable environment for Dapps and decentralized entertainment services as well as ensuring transparency, fairness, and optimal user experience. SFUNDING envisions to be the leading Utility Blockchain platform that offers a favourable environment for Dapps and decentralized entertainment services as well as ensuring transparency, fairness, and optimal user experience.

Blockchain-based games developed by SFUNDING provide users with numerous outstanding features.

  • Track and validate ownership of digital assets.
  • Offer a secure payment system
  • Increase competitiveness by applying innovative technology
  • Trade digital assets easily with high liquidity

Operating model

SFUNDING system is empowered by Blockchain technology, which brings optimal freedom for the user through an open-source, decentralized, independent, and intermediary-free platform. All user data are securely encrypted and not controlled by any parties control, including SFUNDING Developer Team. The launch of SFUNDING has opened up a new era of freedom and privacy where user rights and benefits are always the top priority. As an open-source platform, SFUNDING allows everyone to participate in information verification as well as the overall development of the platform. Transaction information is always public and can be checked at any time to ensure transparency.

An independent Coin

One of the primary goals of SFUNDING is promoting the development of cryptocurrency by presenting Token Games on Dapps and connecting current top trending games. SFUNDING Token is used as a payment tool for in-game transactions as well as a tradable currency once listed on prestigious Crypto Exchanges. It has high liquidity yet low costs and no intermediary.

Earning from playing

Inspired by the sharing economy model, SFUNDING has developed a profit-sharing platform where every users and gamer who participate in or play any games on SFUNDING will have the chance to earn income. The particular ratio of profit shared will be decided upon the amount of money spent to play as well as deposit in. Generally, about 35% to 50% of this amount will be sent out as contribution rewards via events, boss hunts, monster hunts, live stream, or Slots. The prizes are guaranteed to be attractive and in line with what the players contribute to the system.

In a discussion related to the development of SFUNDING, a representative of SFU Token stated that remaining features of the Token will be completed in the following time along with deploying Marketing campaigns and customer base development strategies. As the plan is already been carry out, it is expected that SFU Token will be listed on Crypto Exchanges by quarter IV of 2020. To enjoy SFUNDING games, users only need to connect their Metamask Wallet or any Blockchain wallets that integrate Ethereum. The most noticeable difference between SFUNDING and other Blockchain platform is the tradability of in-game items and characters. Through an in-game fleamarket, players can buyor sell in-game assets at a suitable price, hence, earning long-term profits.

Article Produced By
Globalcoin

Independent ICO Research and Reporting on the Biggest Cryptocurrency Winners From a Top 10 Crypto News Site

https://globalcoinreport.com/sfunding-the-leading-utility-blockchain-platform/

Thomas ClaimCo.in

Who Using The Blockchain Technology To Transform The Real Estate Industry?

Who Using The Blockchain Technology To Transform The Real Estate Industry?

 

The real estate industry stands to benefit massively from the blockchain technology.

Soon enough, one will be able to purchase rental houses, dream houses, and even parking spots on the blockchain. Matter of fact, the newly formed industry (blockchain-based real estate) is gaining popularity fast as buyers, sellers, and even investors see it as a way to interact with each other and get informed about new properties. By leveraging the blockchain, the real estate industry will be able to increase trust due to the transparent nature of the distributed ledger technology. Additionally, self-executing smart contracts will save time and reduce costs. Given that real estate transactions are so immense, the industry stands to benefit from having a shared database that holds the lease and purchases data. Also, the technology will offer more transparency through a transparent ledger system that allows brokers and agents to see the entire transaction history of a particular property. In this piece, we are going to go through a few top companies that are using the blockchain technology to transform the real estate industry.

Wolfs Group

Wolfs Group is a consulting company based in Europe that is made up of several well-established companies that are listed on the stock market. The company focuses on three main areas, namely; fintech, new technologies, and real estate. Its real estate arm is run by Wolfs Development, which tries to merge real estate with economic innovation. The company has an ERC 20 token based on the Ethereum blockchain know as WLF token that will enable investors to get a slice of the company’s investments in real estate and other areas it’s involved.

RealtyBits

Founded in 2018, RealtyBits is a blockchain-based real estate investing platform that allows investors around the globe to buy entire properties or fractions of the assets. Based in Palo Alto, the company aims to open up the American real estate industry to investors around the globe. Consequently, the platform helps real estate companies to raise funds through crypto investments. In the long run, the platform hopes to lower the cost of investing in commercial real estate.

Agents Not Needed

Founded in 2017, this platform seeks to replace the need for real estate agents by providing the buyer and the seller with a peer to peer platform that doesn’t need much management by intermediaries. The platform has embarked the blockchain revolution to the property transaction process, making it cheaper, faster, and secure. This platform, like its name, is for individuals and not agents. It offers people the necessary tools and a marketplace where they can communicate, arrange viewings, make offers, and sell their own property.  

BrikBit

Founded in 2018, BrikBit is a blockchain-based platform that is working on decentralizing the real estate industry to make transactions more transparent. The platform aims to achieve its objective by empowering unique projects within the real estate industry to be able to create their own blockchains, which will act as sidechains of the BrikBit blockchain. By doing this, various projects can be customized to meet local regulatory requirements. The platform’s system will help with property management and fund collection.

CryptoProperties (CPROP)

CryptoProperties is a tech company that is building blockchain data applications that are focused on identifying issues within the real estate industry, reducing risk, and identifying new opportunities. The company is using the blockchain technology in multiple real estate areas, including finance, property development, brokerage transactions, investment management, and insurance.

Briq

Founded in December 2017, Briq is a data management blockchain-based platform that is designed to improve the real estate industry by placing development and construction data securely on the blockchain. Since its launch, the company has been working on digitizing aspects of the construction supply chain, like adding protocol layers that help manage the flow of materials. By doing so, the platform aims to streamline real estate development.

RealBlocks

RealBlocks is a tech company that is using the blockchain technology to tokenize the real estate, thereby creating new avenues for investing in the industry. The company has created a platform that allows real estate investors to buy fractions of assets instead of the entire portfolios or properties. By tokenizing the sector, the company is helping reduce fees, provide liquidity, and speed up processes. 

Propy

This list wouldn’t be complete without the mention of Propy; one of the first blockchain-based real estate projects that paved the way for the rest. Founded in early 2017, the platform is by far one of the most successful within the industry. It aims to solve the many problems that face online real estate transactions, including high costs, time wastage, and fraud. The solution is a platform that acts as a property store and asset transfer for the international real estate industry. Propy allows buyers, brokers, sellers, and agents to meet on the same platform and conduct transactions on the blockchain using smart contracts. 

Conclusion

As exciting as the above projects are, it’s good to remember that we are still in the early days of blockchain uses within the real estate industry. And we are likely to see more applications than we can currently fathom come up as the technology matures. 

Article Produced By
Andrey Sergeenkov

Andrey is a digital entrepreneur with more than 10 years of experience, IEO Adviser, Hackernoon and BitTorrent investor. Assisted in raising more than 40 mln USD investments for more than 20 start-ups. He believes that actual usefulness is the best PR for any project.

https://bitcoingarden.org/who-using-the-blockchain-technology-to-transform-the-real-estate-industry/

Thomas ClaimCo.in

UEFA AlphaWallet to Power Up EURO 2020 Tickets with Ethereum Blockchain

UEFA, AlphaWallet to Power Up EURO 2020 Tickets with Ethereum Blockchain

 

Football fans will have the ability to buy tickets to Euro 2020 using Ethereum. All is possible thanks to UEFA, FIFA and AlphaWallet’s efforts to enact

AlphaWallet is a tokenization firm providing companies with exclusive services of launching their coins. Boosted by the Ethereum network, AW allows users to take advantage of DeFi, DAOs, stable coins and ERC-20 smart contracts. Together with the UEFA, AW plans to bring the crypto fans together with football fans. This will happen through an Ethereum integration, with over 20,000 tokens put on the custom blockchain to back up the tickets.

Victor Zhang, AlphaWallet CEO, noted:

“If we can convert 50% of the digital event tickets into blockchain tokenized tickets, the new adoption number is already greater than the current total blockchain users worldwide (42,290,000 ).”

Victor claims that the tokenization of the world has just started, and the most interesting stuff should start happening later.

Smart Contracts Will Solve Ticket Fraud Problem

The authenticity of the EURO 2020 tickets was somewhat difficult to check in the past. The secondary market’s effective ways of regulation became possible thanks to the Internet. Robust smart contracts functionality enriches users with the ticket buying, tracking, storing and selling system. Since it is automated, it can beat those cheaters who sell fake tickets on the streets. Now, tickets are easily checked via the special Ethereum address. This means that, if the person who bought the tickets wish to re-sell them, they can do it on-chain. The right to own the virtual ticket can be transferred just like the crypto coins.

Mass Adoption Won’t Come in One Moment

According to Victor Zhang, his group will handle only the tech, and the UEFA Executive Sales Agent is going to give the money, the tickets and the approval for everything. They already have the experience, as UEFA was using blockchain to sell tickets since summer 2018. Victor thinks that ticketing may appear to be a good start point for the mass adoption of cryptocurrencies. The AlphaWallet stats show that 28 test customers already used virtual tickets to enter the stadium. Particularly, those were the people who never used blockchain technology before.

Tickets Available via the Ethereum Blockchain

If you want to set up some blockchain-related enterprise, use Ethereum or Ethereum Classic. Both platforms are good for deploying smart contracts, both Turing-complete (ERC-721) and not (ERC-20). As for the AlphaWallet’s pitch, they are working with some secretive agency tied with FIFA. That agency has a goal to create the non-fungible type of coins under the ERC-875 standard. The system will facilitate TokenScript technology. It will allow the ticket holders to send tickets to each other or exchange them for some goods. The system will offer an attendance tracking tool and stability of usually fluctuating prices. The TokenScript protocol written especially for Ethereum is a tool that allows the tickets to function. The tokenization trend is moving forward in 2019: in this year alone, people bought more than 941,400,000 sports tickets using online service.

Article Produced By
Jeff Fawkes

Jeff Fawkes is a seasoned investment professional and a crypto analyst covering the blockchain space. He has a dual degree in Business Administration and Creative Writing and is passionate when it comes to how technology impacts our society.

https://www.coinspeaker.com/uefa-alphawallet-ethereum/

Thomas ClaimCo.in