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6 ways in which the Blockchain Technology is supporting Entrepreneurship

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Bitcoin entrepreneurs

Let’s find out how Blockchain Technology is assisting the Entrepreneurs in building their ideas.

The world is experimenting with the blockchain technology in order to find out its true potential and capabilities in solving most of the real world problems. Blockchain Technology has found applications in the election process, Healthcare, educational institutions, Financial Institutions and now it has also paved way for possibilities in the entrepreneurship industry.

 

1. Increasing access to entrepreneurship education

Many people working in the corporate world want to bring their dreams into life by starting their own ventures. But the entrepreneurs probably lack the sufficient skills and certifications required for it and also do not find sufficient time to learn them. For instance, someone with a 9 to 5 job is not able to enroll in the MBA Program. 

Although the formal education is not compulsory for a new business venture the entrepreneurs require specific skills. Success Life has come forward with a blockchain solution in order to provide video tutorials to help the entrepreneurs acquired the specific skills.

 

2. Unlocking crowdfunding opportunities

According to statistics 78% of the initial public offering offered by projects do not reach its target but with the initiation of initial coin offering by the application of the Blockchain Technology, the whole crowdfunding process has been digitized and hence increased the reachability of the sales to every corner the world.

According to a report crowdfunding for only the entrepreneurial ventures is estimated to be around $5.6 billion in the year 2017. The initial coin offering has become so powerful that it is has been attracting the mainstream investment for a long time.

 

3. Providing user-friendly financial tools

the number of projects and businesses are using the cryptocurrencies along with the fiat in order to manage their finances. The cryptocurrency might be in the form of tokens or funds raised by an entrepreneur through the adroit trading in the cryptocurrency exchanges.

Many projects have been come forward to integrate the functionalities of the exchange, a crypto, and a wallet. One best example is Zerta, a next-generation trading platform. It is developed by the best technologist and the entrepreneurs. It provides a customizable interface for users of difference in trade experience for simplicity.

 

4. Cultivating new investment opportunities

An investment portfolio of an entrepreneur is one of the most diverse ones. This might be because they are always looking forward to a diversified investment and there are almost thousands of ICOs coming up every year opening gates for diversified investments.

For an instance, Muirfield provides private equity investment opportunities and also is looking forward to launching it’s tokenized asset offering in 2018.

 

5. Developing customer-loyalty platforms

As the Blockchain Technology was originally meant to bridge the trust gap that existed in this generation, it is readily made use of, in fields where the trust between people is crucial.

Blockpoint, for an instance, has come up with one such automatic Blockchain ledger which keeps a track of the customer’s interaction and adjusts the loyalty statuses appropriately.

 

6. Creating reliable agreements

Entrepreneurs are in a frequent touch with all kinds of investors. A number of official and unofficial contracts are signed between them. When the traditional agreement fails the entrepreneurs suffer a lot.

 

The smart contracts using the Blockchain Technology proves to be very handy in such situations. DocTailor offers one such service where the entrepreneurs can create smart contracts based on their preferences.

#Exchange

Vietnam launching a regulated cryptocurrency exchange

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Vietnam is all set to launch a regulated crypto exchange as two companies have just signed an MOU for the development and licensing for a crypto exchange.

Vietnam is all set to launch a regulated crypto exchange as two companies have just signed an MOU for the development and obtaining licensing for a cryptocurrency exchange.

Partnership for the cryptocurrency exchange:

According to an article published by PRNewswire, Linh Thanh Group, which is the biggest distributor in the country is partnering with Kronn Ventures AG, a blockchain company located in Switzerland for the development of the cryptocurrency exchange.

Recently, Kronn Ventures AG created an association with the financial committees around Asia which included countries like Bangladesh, Sri Lanka, Cambodia as well as Vietnam. The motive of the association is to use blockchain technology to create a worldwide wiring system that suits the environment of the Asian continent.

According to the report, Linh Thanh Group has officially stated that partnering with the Kronn Ventures AG will help both the companies in creating a cryptocurrency exchange that is world class. Kronn Ventures is quite famous for their work in the field of blockchain in Switzerland.

 

Regulation in Vietnam:

The government of Vietnam had earlier seized the domain name of the biggest BTC exchange in the country as the company was accused of allowing e-commerce services without seeking regulations from the authorities.

Also at the end of last year, Vietnam’s ministry of justice had proposed various methods which could help in regulating cryptocurrencies in Vietnam. The regulatory authorities had also explored the pros and cons of cryptocurrency regulations in the country.

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#Exchange

Mt Gox: Has the time come when Mt.Gox Creditors will be paid?

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As reported by the Mt Gox trustee, They still have 141,000 BTC and 142,000 BCH and the trustee seems to be taking charge to return the funds to the victims.

The small cryptocurrency community back then was in shock when the biggest bitcoin exchange Mt Gox (at that time) was hacked and around 850,000 BTC were stolen which were worth around $450 million back then and around $3.4 billion according to today’s price. Years have passed since the incident, however, only a few the victims have received their share and most of them are still waiting for their lost funds.

 

Mt Gox to credit victims?

As reported by Nobuaki Kobayashi, the Mt Gox trustee, Mt Gox still has more than 141,000 Bitcoin and 142,000 Bitcoin Cash and the trustee seems to be taking charge to return the following funds to the victims. The victims were super excited to hear this and Twitter seems to be full of tweets claiming that the exchange has finally made its decision of returning the lost funds to the victims.


However, it is worth noting that Mt Gox might have more than $631 million worth of Bitcoin and Bitcoin Cash, the number of funds to be compensated are likely much more than this amount. The other documents on the website claim that the victims shall be sent a notification regarding the approval or disapproval of their claims based upon their type of filing (online or email).

 

Nobuaki Kobayashi said that after a few days, the Rehabilitation Trustee of Mt Gox will be announcing the results of the claims filed by the victims. The result will showcase whether or not their claims have been accepted.

 

Missed the deadline?

If you are one of the victims and you’ve somehow missed submitting your claim, you can still download the claim form from the Mt Gox website. However, if these claims made after the deadline shall be accepted for refunds will be decided by the court.

 

Is there any timeline for the claims?

According to Nobuaki Kobayashi. he will contact the victims soon. So there is no specific timeline as to when the funds will return to the victims. However, it is still great news for the people who have been waiting for over 5 years and they are surely happy about the fact that they will soon be compensated.

 

Cryptocurrency investors are now wondering how will this affect the bitcoin price? What do you think? Tell us in the comments section below.

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#Bitcoin

Cryptocurrency Price Analysis: Great Week for the top 10

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The current week has proved to be quite amazing for the cryptocurrency market as all major coins are holding green. The total cryptocurrency market rose by around $1.5 billion yesterday night with the price of bitcoin reaching $4100.

 

Bitcoin:

BTCUSD Price Chart

BTC/USD Weekly Price Chart

Bitcoin broke the $4000 resistance level on 17th March and has been over this range since then. Bitcoin has turned the previous resistance into strong support now and has moved upwards slowly currently trading around $4120 (according to Bitfinex chart) with around 1% increase in the last 24 hours. If bitcoin is able to maintain its position above $4100 range for long, it might soon move ahead towards the major long term resistances such as $4500 and $4600.

 

Altcoins:

ETHUSD Weekly Chart

ETH/USD Weekly Chart

Ethereum also saw a nice bullish momentum this week after reaching the highest point of $143. Currently, Ethereum is trading nicely around $140 and is experiencing a few dips while trying to move upwards.

Unlike other top 10 coins, Ripple market is experiencing volatility from the last week but the momentum is still quite bullish.

LTCUSD Weekly Chart

LTCUSD Weekly Chart

Litecoin has been following trends and is steadily trading around $60 from the start of the week. Litecoin has increased more than 1.67% in the last 24 hours which makes it the best performing crypto of the day (in comparison with the top 10 cryptos according to market capitalization). LTC is currently trading around $61 (according to Bitfinex chart).

 

The overall cryptocurrency market is in a bullish momentum with sings of further gains. After a long bearish trend, cryptocurrency analysts are now believing that the bull market might be coming soon.

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