It works like this: Toba riders earn LoyalCoin as they pedal, then either redeem it at various brands or stores (including, naturally, 50cycles) or trade it on the market for other cryptocurrencies like Bitcoin, Litecoin, XEM, and DigiByte. An accompanying app tells users how much they’ve earned, as well as LoyalCoin’s current price on the market. (A brand new form of crypto, LoyalCoin is trading for only about $0.0045 at the time of this writing. This is clearly a bet on Snaith’s part that the asset will take off.)
One demographic issue that keeps coming up with relation to cryptocurrency developers is the lack of female representation, and the same statistics seem to be true for traders. In fact, the data shows that less than a tenth of crypto traders are women, with just 8.5% market share compared with men’s 91.5%. While there could be other factors at play, bitcoin is located at the intersection of technology and finance, both fields that suffer from a severe gender imbalance, so the results are not all that surprising in that context.
Recent reports put Africa at the top in Paxful’s cryptocurrency transaction list. According to Paxful, a global peer-to-peer cryptocurrency marketplace, a majority of transactions made on its platform are from African countries. Records show that over R500 million (about US$40 million) transacted on the platform originated from Africa.
Particularly, the young people below the age of 30 have embraced digital currency, according to Paxful. Paxful co-founder and CEO Ray Youssef said the continent shows great potential to become a leader in peer-to-peer financial matters. Interest in peer-to-peer technology grows every day especially in Kenya, Nigeria, South Africa, and Ghana. This could lead to the technology taking over various sectors, such as mobile banking.
A 51 percent attack works when someone takes over the majority of a blockchain network’s computational power. This control allows the person or group behind the attack to start their own, private ledger for the particular cryptocurrency. With this majority share of the network, the person in control can buy something with their cryptocurrency (or cash out) on the public, official ledger, and then send out their private ledger, which other computers on the network adopt as the real thing. Now it’s like they never spent their cryptocurrency at all, but still benefitted from the transaction — essentially double-spending whatever coin they’ve taken over. While they control the network, a person conducting a 51 percent attack can also make sure they get all the newly mined coin that appears on the network.
In 2008 Nakamoto authored the white paper describing the most famous crypto, from which all other cryptos have spawned. In a community and industry dominated by men, the statement “Satoshi is a female” – a theory promoted by New York Congresswoman Carolyn Maloney at the Women on the Block event in Brooklyn on May 13 – is extremely provocative. To many, it is akin to suggesting that Jesus was a girl.
Ms. Maloney may have had her tongue in her cheek, but her comment highlights a serious point: are the contributions of women in the cryptocurrency world being diluted?
Harnessing the power of blockchain technology to help ensure secure transactions, the LGBT Token can help unite the global community and demonstrate our economic power. It’ll also provide a safe, anonymous way for LGBT people to buy goods and services. For example, an LGBT Token user in Chechnya could purchase an airplane ticket to safety without raising any red flags, or it could provide aid directly to an African LGBT organization without passing through the hands of anti-LGBT government officials.
Controversy and various aspects of cryptocurrency seem to go hand-in-hand, but perhaps none more so than when this new tech arena collides with race and hate groups. Quite simply, there is a growing concern around the rising trend of the usage of anonymous digital currency to forward actions by extremist groups. Reports of such activity began to gain speed toward the end of last year and now the lens is widening. While the cryptocurrency industry clearly focuses on disrupting the financial status quo, could this new realm actually also somehow play a role in increasing racial tension in America today?
At Goldman Sachs Group Inc., Jonathan Cheesman, 36, and Justin Saslaw, 28, are among at least three front-office employees in New York who quit the bank this year after making personal profits from cryptocurrencies, said people with knowledge of the situation, asking not to be identified. In London, Asim Ahmad pocketed enough from investing his savings in Ether to walk away from BlackRock Inc
Is it possible for China to use blockchain to speed up its overtaking of the US economically?
If people figure out the availability problem than cryptocurrencies could actually become a threat to middlemen like visa and mastercard
blockchain is interesting but has anyone actually implemented a real world application for them not related to cryptocurrency?
in 10 years someone will hold an ico in Pyongyang
this on top of the beginnings of Korean reunification will be interesting for the future of the Korean economy