Blockchain
The Future of Social Media
Any media is a combination of channel and information. Media uses platform to build the channel to communicate with its audience. An audience chooses the media based on a suitable platform and the information it provides. Traditional media used to control their platforms completely. With the growth of social media, their pages became one of many on the platform. Those platform changes affected income source. Here are the media evolution milestones based on those two determining factors.
The infographic demonstrates the evolution of media platform and revenue source.
Print media
It was a long age of print media dominance. There was no other way to distribute information and to connect with each other, other than through publications in newspapers or magazines. The media brand was influential, and subscribers and advertisers were its income source.
Internet media
The emergence of Internet prompted print media to create their own web pages. While the subscription-based part of their income reduced, their business models didn’t change. Banners and sponsored articles became their main source of revenue.
Social media
The struggle between the media and the platform started with the introduction of social media. Internet media use platform to attract an audience and to lure it to visit their web pages.
This does not align with platform goals.
The biggest asset of social media is user data and user-generated content. Their main source of revenue is highly targeted advertisement. While traditional internet-media also have become an element of the advertising networks, they have to share their revenue with content creators. The targeted ads generate too little revenue, that is also cut by an intermediary. Media just can’t produce high-quality content with this source of income alone.
Meanwhile, social media have demonstrated the influence of individuals.
Next generation media
Closer and more instant interactions have become the main trend developing in the new media. This leads to the growth of messenger-like media and streaming functions. With our friends, we prefer to chat in messengers. To experience more, we go to specialized platforms, which display videos, photos, streams or blog posts.
The influencers are rising and claim their share of income. Traditional social platforms manipulate feeds and content to increase their revenue while authors of good content and active communities receive no support. The new revenue model of social media has to involve direct payments. Let’s dive into the future of media and understand how it will benefit all of us.
Trends
How is social media landscape changing? Major platforms introduce a multitude of ideas and approaches with the ultimate goal – to stay influential and increase revenue.
Money has to be shared
Targeting used to be the goldmine for both advertisers and platforms. Companies just reaped customers who were ready and willing to buy. The art of targeting has become popular and now it is a very sophisticated process, while an audience is an object of interest for many companies. Within the traditional model it is becoming more difficult for brands to stand out there. They need influencers to create engaging stories for the brand audience. A creative approach will be more compelling for advertisers.
Media implements many options such as paywall, subscriptions and micro-payments. Direct payments for the specific content or to the user also become more and more popular.
The infographic shows trends in targeting. The bid competition increases and customer acquisition costs become higher. Companies are trying to target more precisely to reach potential customers. While the customers who are ready to buy attract the most attention, the top of the pipeline stays untreated. Brands can cover them by storytelling through different media, platform, and influencers and make real fans of these customers.
Outstanding content breakthrough
The business model of social platforms affects the content quality too. The requirements for content have become low, it just has to grab attention quickly. The channel has become more important for all the parties of social interactions: if you can attract the audience you can earn, regardless of the content quality.
Nowadays social media and other web sites are flooded with low-quality content. Platforms apply different approaches to handle it: moderators, AI, censorship. For example, YouTube introduces manual moderation and additional requirements for partnered channels. Huffington Post announced it will no longer work with contributors on its U.S. site.
The best way to identify quality content is to let users pay for it directly. Experts, educators, and outstanding showmen would thrive eventually.
People build trust
Don’t forget the reason why we all gather here: to communicate openly with someone we like. Social media platforms want us to stay more on their pages and to click adds. For example, Facebook applies algorithms to make people stay longer there, at the same time audience engagement decreases. Facebook has become less social, more media: we scroll feed looking for stories, entertainment and news, and don’t spend the time to comment, like or share.
The personal interactions move to other mediums, such as messengers and streams. Influencers gather people in communities and use group chats, streams, and comments. Communities motivate people to interact, rather than be merely informed. Information, news, memes, and other content spread very fast across communities, while algorithms address long-term processes.
The new business model
While most traditional networks and media are trying to catch some new trends, the new business model arises. It is that pivotal moment when media just can’t use additional attributes to stay on the top. The new model would not complement traditional platforms, it substitutes them as they don’t change their primary source of revenue based on targeting ads.
The social network, which wins the future, has to combine new business model, new technologies and the new type of content which attracts the young audience. Young people change their preferences fast. Currently, the most popular global social network is just number four in their top and tends to become even less popular. And this list is changing continuously.
Let’s take a closer look at the new business model of media and the example that illustrates it. Monoreto is the social platform which brings together all trends and illustrates the upcoming model. This platform is based exactly on the new principle – direct payments to support excellent content creators.
The core of the platform is content, personal communications, and instant feedback. The platform allows to easily launch live broadcasts, create stories with photos and 10-second videos with overlaid text, and publish different types of content including photo and video.
Influencer: produces content and interact with users. Tells a brand’s story.
Direct donations are the basis of the new model
The donation model of Monoreto implements blockchain technology. The minimum transaction is equal to 5 cents in Monoreto tokens (or more, up to donator), which users transfer with their likes.
There are several reasons why users already donate and will continue to do so:
They want to interact with a public person and to attract attention. During live streams donations have become a very popular way to interact with a broadcaster, to ask him to say or do something. This kind of interactions with influencer become a valuable experience.
Gamification: there are a plenty of ways to turn gratitude into entertainment. In Monoreto these are quizzes, lotteries, and competitions. For example, a world-famous sportsman is able to publish a post and announce that top 3 active donors to the post will get the opportunity to meet him (for dinner, at a training club, etc.) Millions of followers and fans crave to win the prize. The media easily and transparently conveys the procedure, and winners will gain recognition by everyone and will get their moment of glory.
They also want to be stars, so they explore the platform, interact with influencers and gradually become more active and start to donate. Donations help to stand out for users and even for brands, because accounts who “donate” likes promote their posts in the newsfeed. Brands are encouraged to tell their stories directly to the audience. By liking quality content of other users, a business account climbs upwards on Monoreto’s smart feed and gives information to potential consumers through their content. A business owner thereby gets a real return on advertising investment and his money ends up going to his favorite photographer, blogger, actor, or even another business he decides to support instead of some advertising intermediary.
Find out more at the Monoreto Telegram Channel here.
Monoreto demonstrates a new vision for the social platform model. While the amount of content increases overwhelmingly, it is very important to highlight the best of it and put it on display. The platform distributes revenue from both users and advertisers directly to the content authors. Their motivation to create and form active communities increases. The social platform of the new generation benefits all parties: users, authors, and advertisers. The changes promise to be disruptive.
Blockchain
Zero-Confirmation Asset Transfers Launch on FTX
Fireblocks (www.fireblocks.com), an award-winning digital asset security and asset transfer platform, announced today the official launch of its Deposit Acceleration Program to partner with top global exchanges on providing the fastest on-chain settlement times for the crypto buy-side. FTX, an exchange that offers innovative products including industry-first derivatives, options, volatility products, and leveraged tokens, is the first to join the Deposit Acceleration Program, enabling Fireblocks customers to deploy assets onto the FTX exchange in real-time with zero confirmations.
The Deposit Acceleration Program is designed to bring new institutional trading volume to exchanges while accelerating on-chain trading operations for digital asset businesses. Bitstamp, the largest crypto exchange by volume, joined the pilot program a few months back, offering one confirmation deposits to Fireblocks Network members. In the first month of joining, volume to the exchange increased by 30% from the Fireblocks Network. Now, FTX has joined as the first exchange to offer Fireblocks customers zero-confirmation deposits.
“We’re really excited about partnering with the Fireblocks team to solve some of the core latency issues around moving digital assets on-chain,” said Sam Bankman-Fried, CEO and Founder of FTX. “As the first member of the program, we now have the fastest settlement venue for institutional traders.”
Exchanges require the pre-funding of assets to receive trading credit, which can take anywhere from 10 minutes to over an hour. This process is cumbersome for the buy-side, requiring effective risk management in terms of managing exchange liquidity. At the same time, it directly impacts a trader’s ability to take advantage of arbitrage opportunities. Operations and treasury teams are forced to allocate assets on exchanges even if market forces don’t necessarily indicate they should be trading on that exchange.
For derivatives traders, slow collateral transfers can result in the auto-liquidation of a position. The zero confirmation capability is critical for derivatives trading as it mitigates trading losses and unlocks the ability to trade during volatile markets.
“Exchanges are looking for creative ways to drive volume and stay competitive,” said Stephen Richardson, VP of Product Strategy at Fireblocks. “The Deposit Acceleration Program is a great way to enable Fireblocks customers to trade on an exchange more actively because being able to deploy assets quickly with their exchange partners directly impacts their ability to drive return on capital.”
Once an exchange has joined the Deposit Acceleration Program and the integration is live on the Fireblocks Network, customers will see an “ultra-fast” label next to the exchange’s name. New exchanges are being onboarded into the program today and will be activated on a rolling basis.
Blockchain
Zero-Confirmation Asset Transfers Launch on FTX
Fireblocks, an award-winning digital asset security and asset transfer platform, announced today the official launch of its Deposit Acceleration Program to partner with top global exchanges on providing the fastest on-chain settlement times for the crypto buy-side. FTX, an exchange that offers innovative products including industry-first derivatives, options, volatility products, and leveraged tokens, is the first to join the Deposit Acceleration Program, enabling Fireblocks customers to deploy assets onto the FTX exchange in real-time with zero confirmations.
The Deposit Acceleration Program is designed to bring new institutional trading volume to exchanges while accelerating on-chain trading operations for digital asset businesses. Bitstamp, the largest crypto exchange by volume, joined the pilot program a few months back, offering one confirmation deposits to Fireblocks Network members. In the first month of joining, volume to the exchange increased by 30% from the Fireblocks Network. Now, FTX has joined as the first exchange to offer Fireblocks customers zero-confirmation deposits.
“We’re really excited about partnering with the Fireblocks team to solve some of the core latency issues around moving digital assets on-chain,” said Sam Bankman-Fried, CEO and Founder of FTX. “As the first member of the program, we now have the fastest settlement venue for institutional traders.”
Exchanges require the pre-funding of assets to receive trading credit, which can take anywhere from 10 minutes to over an hour. This process is cumbersome for the buy-side, requiring effective risk management in terms of managing exchange liquidity. At the same time, it directly impacts a trader’s ability to take advantage of arbitrage opportunities. Operations and treasury teams are forced to allocate assets on exchanges even if market forces don’t necessarily indicate they should be trading on that exchange.
For derivatives traders, slow collateral transfers can result in the auto-liquidation of a position. The zero confirmation capability is critical for derivatives trading as it mitigates trading losses and unlocks the ability to trade during volatile markets.
“Exchanges are looking for creative ways to drive volume and stay competitive,” said Stephen Richardson, VP of Product Strategy at Fireblocks. “The Deposit Acceleration Program is a great way to enable Fireblocks customers to trade on an exchange more actively because being able to deploy assets quickly with their exchange partners directly impacts their ability to drive return on capital.”
Once an exchange has joined the Deposit Acceleration Program and the integration is live on the Fireblocks Network, customers will see an “ultra-fast” label next to the exchange’s name. New exchanges are being onboarded into the program today and will be activated on a rolling basis.
Blockchain
Ludena Protocol Announces Partnership with Theta Network
South Korean gaming social platform, Ludena Protocol and Theta Network, the leading decentralized video delivery network powered by an innovative new blockchain and distributed ledger technology, announce their strategic partnership with a mutual focus to drive usership through increased content and exposure.
As part of the agreement, the Ludena Protocol Dapp, GameTalkTalk will be integrating the Theta protocol into its gaming-centric social platform that rewards users for gaming-related activities. Theta Network will bring its high quality esports, gaming and blockchain content to the 3 million+ GameTalkTalk users. Users will earn rewards with the TFUEL token for watching and sharing their bandwidth and videos with other network users and engaging with the content. This partnership will mark the first launch of Theta Live Mobile Embed for Android apps in Korea.
“GameTalkTalk is an ideal partner to launch our Theta Live Mobile Embed product powered by the Theta Network, allowing viewers to relay esports and game streams to their peers and earn Theta token rewards, TFUEL, just for watching and sharing their bandwidth resources,” said Mitch Liu, Theta Labs CEO. “In just a couple of months after announcing Theta Live Embed, it is now live on more than dozens of partner sites globally and we are excited to branch out to Korea for the first time and to onboard local content.”
Theta Labs will also be supporting Ludena Protocol’s global expansion plan through marketing cooperation, while offering GameTalkTalk users an influx of gaming content and added platform rewards. As a global launch marketing partner, Theta Labs will leverage their existing US and Europe community to help onboard new, international GameTalkTalk users. In addition, Theta Labs has agreed to provide an exclusive GameTalkTalk channel on Theta TV, which will feature Ludena Protocol’s in-house content, which will be broadcasted to the Theta community, which boasts 5 million+ users.
Ludena Protocol CEO, Joshua Kim, had this to say about the announcement: “We hope that the cooperation between Theta Labs, which showcases an excellent model of disruptive blockchain-based service, and the Ludena Protocol Foundation, which seeks to create an innovative global gaming ecosystem through a gaming social platform, will lead to achievements that are long remembered in the blockchain gaming market.”
Blockchain
Riot Blockchain Receives 1,000 S19 Pro Antminers from Bitmain
Riot Blockchain, Inc. (NASDAQ: RIOT) (“Riot” or the “Company”), has received 1,000 S19 Pro miners, the first of three orders cumulatively totaling 3,040, S19 and S19 Pro Antminers from BitmainTech PTE. LTD. (“Bitmain”), at Coinmint’s Massena, New York facility. Deployment of these 1,000 new S19 Pro generation miners has commenced and is expected to be completed by Friday, July 17, 2020.
Riot recently relocated its mining operations to Massena, New York for a number of benefits, the largest of which was to take advantage of the extremely competitive electricity costs in the New York ISO market. Once the 1,000 S19 Pro miners are installed and fully operational, Riot’s active mining portfolio will consist of 4,000 S17 Pros and 1,000 S19 Pros. As a result, the Company’s aggregate hashing power capacity will increase by 45% from current levels to approximately 357 PH/s and consume 12.8 megawatts of power. This level of energy efficiency is the result of Riot’s continued efforts to build its operations with the highest performance mining hardware on the market.
Once all 3,040 Bitmain S19 Pro and S19 miners are received and deployed, Riot estimates that the aggregate hashing power capacity of its then fleet of 7,040 next generation miners (4,000 S17 Pro, 2,000 S19 Pro and 1,040 S19 miners) will be approximately 566 PH/s, representing a 129% increase over the Company’s current hash rate capacity. Riot expects the additional S19 miners to be shipped, 1,040 in July and 1,000 in September / October.
“The initial phase of the Riot Blockchain transformation is now complete,” said Remo Mancini, Chairman of Riot Blockchain. “We have embarked on a systematic risk mitigation effort to benefit all shareholders. We have overseen the termination of the SEC investigation and have improved the Company’s financial profile by eliminating all long-term debt, adding significant positive working capital, and reducing our operating overhead by relocating to a lower-cost facility.”
“We have also streamlined our operational capabilities by reorganizing our management team, closing RiotX and focusing on the production of bitcoin, of which the Company now has over 1,000 in inventory. We have completely upgraded the Company’s mining fleet and are on-track to achieving a hash rate capacity of approximately 566 PH/s by Q4 of 2020, utilizing highly power efficient mining hardware. We are now well-positioned to embark on the second phase of Riot Blockchain’s transformation.”
In the current phase of Riot Blockchain’s transformation, Riot plans to continue increasing its aggregate hash rate capacity and exceeding 1 exahash per second (“Eh/s”) in early 2021, continue to assess its ongoing human resources requirements and manage expenses. In addition, supported by its Board of Directors and Advisory Board, the Company will also continue to work with XMS Capital in evaluating opportunities to further increase shareholder value.
Blockchain
A-Medicare Announces New Crypto Coin as Part of 2020-2021 Launch Strategy
A-Medicare, the flagship private health services entrepreneurial enterprise of actor-producer Enzo Zelocchi, today announced launch plans for a new crypto coin as a planned element of early strategic growth integral to platform development through the remainder of 2020 and 2021. The currency token, in active development, will allow customers a new, secure, and cashless way of spending on their medical needs. The A-Medicare coin is going to be the only permitted cryptocurrency in the A-Medicare platform. A real breakthrough for the entire worldwide healthcare system and cryptocurrency universe. Several analysts confirm that the A-Medicare coin could become the leading cryptocurrency of the future due to the massive global transactions the world healthcare market will generate.
“The world landscape has changed,” Mr. Zelocchi says, “with a global pandemic locking people in their homes and many health providers struggling to provide services, we at A-Medicare are launching a streamlined ecosystem with its own cryptocurrency to help provide our clients with fast, practical solutions to their future medical needs.”
The new brand offers a competitive bridge with several open avenues for private-public partnerships in reimagining healthcare for the United States and ultimately the world.
Regarding security and transparency, Mr. Zelocchi says: “Every medical transaction (health insurance claims, etc.) will be processed and tracked in the A-Medicare platform using blockchain technology and each transaction made with the A-Medicare coin is going to have a double trackability matching system which will eliminate any possible fraud, lost records, etc.”
Additionally, secure blockchain technology will expedite payments and refunds instantly.
“We are here to leverage secure blockchain technologies,” Mr. Zelocchi adds, “as well as the latest in artificial intelligence and remote medicine toward the maximum fulfillment of health and well-being for all U.S. citizens at a high standard of accessibility and fairness throughout very challenging times.”
About A-Medicare
Our mission is to decrease the cost of healthcare and to improve its efficiencies in all aspects using Machine learning, Artificial Intelligence, and Blockchain technology. The goal is to create a Universal Health Care system that creates affordable low-cost healthcare and provides programs to help subsidize costs for those most in need.
Blockchain
OKEx Launches Latin American Fiat Gateway With Settle Network
OKEx, a world-leading cryptocurrency spot and derivatives exchange, has reached a strategic partnership with Settle Network, a global fiat-crypto solution provider. Through the latter’s product, Latamex, OKEx users can now buy Bitcoin (BTC) and ether (ETH) on the exchange with Argentine peso (ARS), Brazilian real (BRL) and Mexican peso (MXN) using a direct bank transfer.
Settle Network is the largest digital assets settlement network across Latin America for exchange and cross-border payments, providing programmatic interoperability between traditional and digital assets by leveraging financial infrastructures of LATAM countries.
“One of the important goals of OKEx is to enable everyone to enjoy intermediary-free financial services by promoting the blockchain-driven economy. For that, it’s essential to lower the threshold for the exchange between cryptocurrencies and fiat currencies in order to cover users in more countries and regions,” said Jay Hao, CEO of OKEx. “The cooperation with Settle Network is of strategic significance to OKEx. Latin American users can now purchase BTC and ETH with multiple local currencies in a compliant way through bank transfers. In the future, OKEx will continue to expand the coverage of fiat currencies to allow more users to purchase cryptocurrencies more conveniently.”
Since the world economy has suffered from setbacks for some time, people have begun to reflect on the problems in the existing financial system — among which, the unbanked has become an unavoidable topic. Currently, about 2 billion adults worldwide do not have bank accounts, and Latin Americans make up a large portion of them. Be that as it may, thanks to its intermediary-free nature, cryptocurrency has begun to play an increasingly important role in the field of financial services.
For most people, the first step to enjoying blockchain-driven financial services is to convert local currencies to cryptocurrencies. As of now, OKEx has supported a vast number of fiat currencies worldwide. Thanks to the partnership with Settle Network, through its wide array of products — such as Latamex, Settle X, PSP Xramp, etc. — OKEx users will enjoy a much-improved experience in crypto-to-fiat trading and payment processing through bank transfers.
Blockchain
Bitcoin Wallet HandCash Secures Further Funding
Handcash has recently seen a number of additional features to its lightning fast digital wallet offering users the ability to shop at 250+ retailers with egifter.com as well as a tie up with payment service Anypay, providing both online and retail merchants with safer, faster and more efficient checkouts. HandCash have also made sure, via an agreement with ‘rival’ Bitcoin SV (BSV) wallet, MoneyButton, that BSV transactions can be made to each wallet directly, without third parties involved. This achieves the peer-to-peer system that Bitcoin’s creator Satoshi Nakamoto envisioned.
Such innovations have caught the eye of a group of investors including technology entrepreneur Calvin Ayre, and venture capital funds Two Hop Ventures and Unbounded Capital – who have completed a new investment round with HandCash. This injection of additional funds will allow HandCash to further grow its product offerings and employ more team members.
HandCash co-founder and CEO, Alex Agut, explains: “It’s brilliant to be talking about employment and investments at a time like this when so much of the global economy seems to be struggling. It shows the strength of the BSV ecosystem that expansion, funding and use cases are on the rise on a daily basis.”
Jan Smit, Partner at Netherlands-based Two Hop Ventures, added: “We have been impressed with the development of HandCash as a product from the very start but to see that they are constantly looking to improve and innovate made the decision to invest an easy one. HandCash is the perfect fit in our strategic focus on Bitcoin key managers and data managers, the critical building blocks for the secure user-centric next generation Internet.”
Zach Resnick, Managing Partner of U.S.-based Unbounded Capital, remarked: “HandCash embodies what Bitcoin was designed to be – a fast, P2P payment system with very low transaction fees. But beyond that, Alex and his team never sit still and the wallet is an ever-evolving product that looks set to be a market leader.”
HandCash is preparing for a future world where businesses and consumers use micropayments – mere cents, or even fractions of a cent. Micropayments are uniquely possible on Bitcoin SV because of the blockchain’s massive scaling – enabling huge transaction volumes to be processed for tiny fees: currently, it costs only about 1/40 of a U.S. cent to send a BSV transaction. This opens up new business models that exchange micropayments for daily online activity, and can re-invent our Internet experience.
HandCash started as a user-friendly wallet for consumers, but seeing the vast business future for micropayments, the company is expanding into B2B product offerings. HandCash plans to offer its infrastructure and know-how to make things easier for developers and businesses interested in adding micropayment functionality to their applications and games. Its upcoming HandCash Connect SDK packages, in just one toolkit, six basic components every developer needs to easily build on the Bitcoin SV blockchain – for any platform ranging from mobile, tablet, desktop, web, to even a smart refrigerator.
The SDK provides a backend solution so developers can use all the powerful properties of Bitcoin as a technology platform, without having to learn complex Bitcoin protocol development skills or maintain infrastructure. According to Alex Agut, HandCash Connect could reduce development time for creating Bitcoin apps by up to 90%, and drastically reduce operational costs for startup ventures and big enterprises who want to build on the Bitcoin SV blockchain.
Blockchain
ECOSC blockchain platform for digital oil and gas supply
We are pleased that in the early stages of our launch, our ECOSC project has become a valuable resource for many oil and gas businesses. Today it is developing successfully. And it is fair to say that the development of ECOSC is not only the merit of the blockchain, smart contracts, and trading on the Coinsbit and Probit exchanges. Active development of the project is due to a user platform with the same name ECOSC.
Prerequisites for the creation of the platform. We are confident that advanced technologies will become revolutionaries in the energy sector. Because the basis of our project is blockchain. But at the same time, using the example of state blockchains, we realized that the use of technology is only half the success. Our team decided to create a user platform with a clear interface that people could use even without a digital education.
The result is a complete ecosystem, the participants of which were able to:
- reduce costs, reduce losses and improve the optimization of your business;
- track supply chain progress in real time, and also check information about transactions;
- build and develop a business without human error and fraud;
- carry out deliveries and other processes without the participation of third parties;
Perform fast processing and approval of documents using the platform, which speeds up transactions.
Benefits of the ECOSC Platform
Security and data reliability. The ECOSC platform works on blockchain technology, which helps all its participants to successfully develop their companies through a reliable data management system and a secure mechanism for their transfer.
Equity transactions. All partnership agreements within the platform are concluded through smart contracts that monitor the fulfillment of the terms of the transaction and the fair payment for them. Reliable counterparties. In order to increase the accountability and reliability of cooperation, company names, license numbers, training certificates, and employee experience history are stored on the blockchain. This approach reduces the activity of fraudsters in the oil and gas market.
Processing information about raw materials. The oil and gas market collects huge amounts of information about processed end products – from unsuitable raw materials to finished consumer goods. The platform reduces data processing time through smart contracts, which is necessary for long processes and increase efficiency.
Optimization of work. For many, blockchain and smart contracts seem like something terribly incomprehensible. But, users of our platform use these technologies as easily as they withdraw money from ATMs and monitor the flow of finances through banking applications.
The ECOSC platform is ready to use! Therefore, we invite everyone who wants to increase the profitability of the business and make it more loyal, simpler, and safer:
ECOSC.net
Blockchain
Ternio Issues Alert to Protect BlockCard Customers From Scams
Ternio, a global fintech platform built on blockchain, wants to warn its customers and potential customers of a number of bad actors impersonating Ternio products or team members. These bad actors use nefarious methods of social engineering to compromise users’ accounts or mislead an individual into sending their personal funds to the bad actor. Details of these infractions are provided to local government authorities.
While the benefits of cryptocurrency are numerous – crypto enthusiasts must remain vigilant to ensure they’re not being scammed by people impersonating Ternio employees. BlockCard users and TERN cryptocurrency holders are regularly being contacted on popular social media platforms and potentially being put at risk. Due to the finality of cryptocurrency, it can be difficult or impossible to recoup funds from the defrauded user. Scammers impersonating the Ternio team or BlockCard support team are not tolerated and dealt with swiftly.
In an effort to protect consumers from Ternio and BlockCard related scams, Ternio has issued a set of guidelines.
- Be suspicious of anyone who contacts you seeking cryptocurrency funds or personal information. Impersonators of the Ternio team and BlockCard Support exist in this global ecosystem.
- Do not give out personal or sensitive details, including your Social Security number and bank account information, to individuals over email, phone, or instant message. In addition, ensure to independently verify the authenticity of the person contacting you.
- Verify the authenticity of all Ternio or BlockCard-related social media accounts that you interact with.
- Never send your BTC, ETH, TERN, or other cryptocurrency to anyone in return for offered “value-add” or “expedited” services
- Verify the URLs and domains you interact with and always use two-factor authentication (2FA) to protect your BlockCard account.
Unfortunately, this type of scam and impersonation isn’t new to cryptocurrency enthusiasts but may be more prevalent with Ternio and BlockCard’s growing popularity. An educated customer is a better protected customer.
About Ternio:
Ternio is a global fintech platform built on blockchain. Ternio’s platform connects traditional enterprise, fintech, banking, systems with blockchain infrastructure giving real-world utility to digital assets. Our products, like BlockCard, enable instant remittance and the transfer of value on blockchain rails in a compliant and regulated environment.
Blockchain
Vanguard Advances Blockchain Technology Pilot To Streamline Asset-Backed Securities Markets
Vanguard, in partnership with technology provider Symbiont, announced today the completion of the first phase of a blockchain pilot designed to digitize the issuance of asset-backed securities (ABS). In close collaboration with a large US ABS issuer, as well as BNY Mellon, Citi, and State Street, Vanguard successfully modeled the full lifecycle of an ABS settlement on distributed ledger technology (DLT) network by replicating end-to-end transaction flows.
“Vanguard is dedicated to providing innovative, world-class solutions that help advance the financial services industry,” said Warren Pennington, principal and head of Vanguard’s Investment Management FinTech Strategies Group. “By digitizing and streamlining the ABS issuance process, we will be able to increase the speed and transparency of transactions while reducing costs and minimizing exposure to risk, which ultimately leads to a more efficient business model for future generations of capital market activity.”
Vanguard and Symbiont have been working diligently with a large US ABS issuer and participants in the banking industry to improve the process of securitization of ABS issuances. The vision for pairing Symbiont’s Assembly DLT with smart contracts—self-executing contracts that are triggered when an agreed-upon event occurs—is to offer increased information flow, enhance price discovery and secondary market liquidity, and automate key corporate actions through the use of a common infrastructure that is open to all market participants.
Puneet Singhvi, FMI Head and Markets and Securities Services lead for Blockchain, DLT and Digital Assets, Citi, mentioned, “We continue to assess new technologies, collaborating with our clients and partners, with a focus on making the risk transfer process across the industry more robust and efficient.”
Leveraging Symbiont’s DLT network, Vanguard is working to transform and automate the current capital markets infrastructure to deliver better outcomes and reduced costs for market participants. The pilot provides the technical and operational foundation critical to supporting an asset issuance on a distributed ledger network. Market dynamics, such as periods of sustained volatility and illiquidity, have highlighted the need for faster, increasingly transparent and more automated markets where digital capabilities can help alleviate liquidity and funding concerns.
Mark Smith, CEO of Symbiont, said, “There is considerable significance to the completion of the pilot program. The successful demonstration of an ABS issuance is a momentous step forward in fundamentally changing capital markets infrastructure through blockchain technology. 2020 may be the year that, for the first time, market participants will see a live ledger-based issuance.”
Vanguard and Symbiont have been leveraging blockchain technology to improve capital markets since December 2017, when the two joined forces to simplify the data distribution process. In 2019, Vanguard went live with Symbiont’s technology to consume data for $1.3 trillion worth of funds. The partnership has enabled index data to move instantly between index providers and market participants over one decentralized database, resulting in improved benchmark tracking and cost savings for clients.
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