Healthureum: Blockchain and Healthcare Combined Seamlessly, Token Pre-Sale Begins December 16th

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This is a paid-for submitted press release. CCN does not endorse, nor is responsible for any material included below and isn’t responsible for any damages or losses connected with any products or services mentioned in the press release. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the press release.

18 December, 2017, Tallinn, Estonia – Blockchain-based, health-focused startup Healthureum has announced its intention to tackle the expected health care expenditure, which is expected to rise between 2.4% and 7.5% by 2020 globally. The Estonia-based startup will be Making the utmost endeavours to contain and ideally reduce these expenses. Healthureum aims to reduce inefficiencies in operations, resources, data, drug sourcing, and technology.

An incentivized measure is starting to prove popular across the globe, particularly in Japan where the METI program rewards companies, which engage in health preventative care and productivity. For this issue, Healthureum’s blockchain based solution offers a solution. Technology-driven healthcare will benefit all stakeholders and patients with improved access to expertise and services while reducing costs, resources, infrastructure and operational requirements in the process.

Forbes.com and CTO Malcolm Wilkinson confirmed that:

“In 2015, a record 112 million healthcare record data breaches occurred due to IT hacks. Now imagine how the use of an interoperable blockchain could mitigate this risk due to its cryptographic nature, bringing a new level of integrity to healthcare data management.”

Deloitte has identified telehealth, virtual reality, and immunotherapy among the top 10 innovations in healthcare to “achieve more for less”, with only one major struggle in the form of the technical ability to integrate and share data between systems effectively.

Healthureum’s Mission

Healthureum’s blockchain-based resolution is a dynamic and multi-functional ecosystem designed to bring innovative Healthcare services, transforming the way we manage our healthcare. Healthureum guarantees its users access to Physicians, Specialists, quality medical infrastructure and the opportunity to access first of its kind innovative treatments, including philanthropic sponsorship programs.

Healthureum LPC Danuta Kowalska stated that:

“Through blockchain, we can achieve decentralized healthcare, closing the gap between services: through transparency, security and most importantly accountability.”

Blockchain and smart contract technology integration will bring the S3, standardization, scalability and social responsibility.

This will allow token holders world-class infrastructure such as data transparency (patients will have full consolidation of their data accessible at any time), along with real-time, historic medical data, in an instant. This will enable the secure sharing of patients medical data between patients and healthcare stakeholders, with permission layers. Patients will be able to receive video consultations for faster diagnosis from a certified consultant, with a quick and safe payment system. This leaves us with a well-trusted ecosystem which promotes patient data integrity and privacy.

Healthureum’s platform is designed on the Ethereum based blockchain using smart contract technology to significantly improve efficiency and interoperability of healthcare services. The Healthureum token (HTH), which is at the very core of Healthureum’s project, will be used as the transactional medium of choice. HTH will act not only as a payment option within the Healthureum network, it will compensate medical practitioners who offer referrals and second opinions. Patients can also be rewarded for sharing their medical data for research programs within the Healthureum clinics and laboratories, while masking their personal identity.

Healthureum is honoured to welcome Mr. Malcolm Wilkinson, data scientist and CTO for Healthureum. His extensive background in big data, and more recently in data science and python will prove valuable in implementing the framework for data systemization which is at the core of the Healthureum initiative.

Healthureum CTO and data scientist Mr Malcolm Wilkinson stated that:

“By adopting a decentralized approach to data management, we eliminate human errors, third-party influence, the risk of tampering and manipulation. Thus, we can achieve a more robust means for storing and sharing data securely”

There is an abundance of knowledge and experience in healthcare, technology, finance, data science and international business lines, among the Healthureum team, which will act as the heart and brain behind this innovative project.

TGE Token Pre-Sale & TGE Sale

With the start of the token presale beginning on December 16th and will draw to a close on the 30th December, the Main sale beginning 10th January 2018 and closing on the 13th February 2018.  Healthureum is offering a spectacular early token appreciation scheme:

TGE Pre-Sale Bonus:

No. of Tokens Available 4.4 million HTH

Day 1 – 45%
Week 1 – 35%
Week 2 – 25%

TGE Sale Bonus :

No. of Tokens Available 28.3 million HTH

Day 1 – 22%
Week 1 – 17%
Week 2 -12%
Week 3 – 7%
Week 4 – 2%
Week 5 – 0%

How to take part:

  1. Sign Up on www.healthureum.io
  2. Read our Participation Guide on your dashboard.
  3. Purchase using BTC/ETH/ECH.
  4. Make payment to the wallet address provided to complete transaction.
  5. You will receive a purchase confirmation on your email.
  6. Your HTH tokens will be issued once the TGE has ended.
  7. You can trade your tokens on an exchange or hold them for potential future growth

Heathureum’s HTH token is an ERC20 Token with a TGE soft cap of $15 million and a total supply of 150 million tokens. Healthureum is best suited for TGE model as the project is so vast and large in scale, that it will be executed in stages, according to the milestones set out in the roadmap. By contributing to the project backers are enabling Healthurem to revolutionize the healthcare industry with the power of blockchain and smart contract technology, providing multifarious healthcare solutions to patients and healthcare stakeholders, with an emphasis on bringing widespread transparency and efficiency.

Learn more about Healthureum here: www.healthureum.io
Read the whitepaper: http://www.healthureum.io/app/Healthureum-White-Paper.pdf
Healthureum on youtube: https://www.youtube.com/channel/UC-FllECcNFI1zLj9jOatuxw?view_as=subscriber
Join Healthureum on facebook: https://www.facebook.com/Healthureum/
Follow Healthureum on twitter: twitter.com/healthureum
Linkedin: https://www.linkedin.com/company/healthureum/

Media Contact Info

Contact Name: Danuta Kowalska
Email: [email protected]
Location: Tallin City, Harju County- 10111

Healthureum is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.

Startup Seeks to Lower Costs, Improve Outcomes by Tokenizing Healthcare

Healthcare is a political and social landmine. According to TechCrunch the average American spends close to $10,000 for healthcare, with the entire industry being worth $3 trln. The World Health Organisation and World Bank report that nearly 100 million people around the world are forced to choose between food and healthcare. This frightful dilemma affects those living in developed and developing countries alike.

It is becoming imperative to develop better systems that can deliver healthcare in a more affordable, transparent and secure way. To ensure better accessibility to adequate health services, we need to focus on efficiency and technology enabled solutions.

Healthureum, an Estonia-based company, is in the process of creating a ‘dynamic and multi-functional ecosystem’ based on the Ethereum Blockchain that will change the way we look at healthcare and usher in an era of standardization, scalability and social responsibility. Ethereum is a Blockchain that not only delivers transparency and security, but also has smart contracts baked into it.

Why does healthcare need Blockchain?

Healthcare is riddled with problems such as fraud and lax data protection. As recently as December, 2017 it was reported that private health records of one in 10 Australians was leaked due to errors on the part of Department of Health. News-Mail reported:

“We found that patients can be re-identified, without decryption, through a process of linking the unencrypted parts of the record with known information about the individual such as medical procedures and year of birth.”

It is precisely these situations that Healthureum can prevent by introducing a robust framework that emphasizes transparency, security and accountability.

An all encompassing approach

Using Blockchain to deliver better quality healthcare is not straightforward. It needs to take care of several factors such as confidentiality, scalability of the system and its ability to meet the needs of healthcare providers. However, using Blockchain it is possible to manage a plethora of health related use cases. These range from clinical trials, health records, claims assessments to data protection and more. Patients stand to gain as they get access to cheaper and higher quality health care, enjoy a more trusting relationship with medical staff, access to genuine drugs and a reduction in fraudulent practices. Healthureum is taking steps to make this Blockchain-based solution a reality by following a systematic and innovative approach.

Token of health

Using an Ethereum-based token, Healtherum will touch every aspect of healthcare. Data systemization will ensure that medical records, personal data, test results, and billing can be consolidated. Since Blockchain is not necessarily the most suitable way of handling large files such as medical records, this type of data will be managed by Healthureum off-chain though the use of encrypted links.

In order to use the ecosystem Healthureum tokens will be required. The token will act as a bridge between patient, hospital and labs. The ecosystem will also provide access to doctor consultations through video calls, referrals for second opinions, specialist consultations and diagnostic tests in a local lab. Patients will even be able to get medical and pathology tests results added to their Healthureum patient record in an instant, secured on the Blockchain. Doctors and other associated medical personnel can be paid using the token, which will facilitate fast and secure payments for health services rendered globally.

The benefits of the Healthureum ecosystem and token are not limited to patient data management. On a large scale, Healthureum will facilitate interoperability between internal processes of a hospital or clinic, as well as inter-hospital data sharing. The Healthureum system will also use the Blockchain to capture procurement and supply chain data, ensuring authenticity and efficiency.

Healthureum tokens will be used in purchase, service and renting of medical infrastructure and the resulting data will be saved for analysis and make the process of procurement more transparent. The use of the token in research programs will facilitate proper recording of data and better monitoring. It will also mean that the system can be scaled to meet the needs of researchers while providing the subjects with data security.

Milestone-driven fundraising

The Healthureum Token (HHEM), which is Ethereum ERC20 compliant, will be the driving force of the ecosystem as a utility token. A Token Generation Event (TGE) will be held starting January 10, 2018 to fund the various stages of the project as milestones are achieved. The TGE will end on February 13, 2018.

A successful fully subscribed pre-TGE has already been completed. During the TGE, Healthureum tokens can be purchased using BTC, ETH and ECH. A bonus program is also in place with participants getting a 22% bonus on Day 1, 17% in the first week, 12% in the second, 7% in the third and 2% in the fourth week. There are no bonus tokens in the fifth week of the TGE.

The total supply of HTH tokens has been capped at 150 million. Healthureum hasput together a participation guide for interested participants.

Your data, your doctor, your way

Those who participate in the TGE are helping build a better and more affordable healthcare system. The large scale of the project necessitates participation in the TGE and enables participants to be able to enter the project at a favourable price point, while early funding would ensure that the project gets underway.

A white paper outlines the development plans of the project which is expected to continue well into 2019. However, various alpha versions of the project are expected in 2018. A successful Healthureum would usher in an era with better systems for greater efficiency, transparency and data security.

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.

Lyn Ulbricht: Ross’s Latest Appeal About “Constitutional Protections and Freedoms for Us All”

In May of 2015, Ross Ulbricht was sentenced to life in prison without parole for his role in operating the dark web site Silk Road. Exactly two years later, the Court of Appeals for the Second Circuit upheld his conviction and sentencing.

Now in a landmark request, Ulbricht has appealed to the the Supreme Court (SCOTUS) regarding the Second Circuit’s decision. A petition for a writ of certiorari has been submitted seeking a hearing for the overturn of the decision upheld this year by the Second Circuit Court of Appeals.

Ross William Ulbricht respectfully petitions for a writ of certiorari to review the judgment of the United States Court of Appeals for the Second Circuit in this case.

A writ of certiorari is a demand placed upon the lower court that upheld Ulbricht’s conviction and sentence to turn over its records so that the Supreme Court may review them and determine whether further action is needed.

The nine-member Supreme Court, which serves as the nation’s final arbiter in legal matters, is very selective in the cases it hears, often pursuing those with national significance in order to establish precedence or to clarify contradictions in existing decisions. Four of the justices must vote to accept a case in order for it to be heard.

The SCOTUS has a low reversal rate in Second Circuit Court rulings. Thus, even if the case is ultimately heard, there’s no guarantee that Ulbricht will receive relief or be vindicated.

Kannon K. Shanmugam is the counsel of record managing the appeal. Widely regarded as one of the top appellate attorneys in the U.S., Shanmugam was a former law clerk to the late Justice Antonin Scalia and has argued 21 cases before the Supreme Court.

Ulbricht’s court request highlights two important constitutional law questions. The first involves the Second Circuit codification of the government’s warrantless collection of Ulbricht’s internet traffic information. This case would afford the SCOTUS an ideal opportunity to address the Carpenter v. United States warrantless search case doctrine and how it may apply to Ulbricht’s case.

Second, the Second Circuit upheld the court’s original decision to withhold information regarding corruption investigations into two agents from the jury. This decision impacted the sentencing guidelines — a key element in the court imposing a life sentence on Ulbricht. Several justices have previously questioned whether this method of judicial fact-finding runs afoul of the Sixth Amendment.

Reached by phone from Colorado, where she now resides and where Ulbricht is imprisoned, Ulbricht’s mother, Lyn Ulbricht, said, “We are battling for Ross, love Ross and feel that he doesn’t belong in prison, let alone a maximum-security facility. He’s a nonviolent, wonderful person that never meant any harm to anyone.”

She asserts that the U.S. government’s aggressive stance involving the drug war and nonviolent crimes has become quite alarming and believes that if the Supreme Court accepts her son’s case, it will have far-reaching implications for constitutional protections of all citizens.

Lyn Ulbricht says that she’s grateful for the massive outpouring of support on Twitter in response to this Supreme Court filing. “We’ve received lots of support from everyday people who know that this is not about drugs but about a much bigger-picture issue.”

She hopes that this case will shine a light on the unconstitutional encroachment of our government and the media sensationalism that supports it.

“I’m not going to give up, and our family is not going to give up. This is about important constitutional protections and freedoms for us all. So we will continue to talk about Ross and our rights as American citizens.”

Alive and Safe: Kidnapped Cryptocurrency Exchange Executive Found After 3 Days

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As recently reported by CCN, 40-year-old IT specialist Pavel Lerner was recently kidnapped in Kiev, Ukraine on December 26. Lerner was reportedly forced into a Mercedes-Benz Vito by unknown assailants wearing dark clothes and balaclavas during the afternoon.

At the time of CCN’s piece it was known authorities were investigating the case, and U.K.-registered cryptocurrency exchange EXMO said it was doing all it could to help find Lerner. According to Quartz, the exchange recently released a statement revealing it managed to het a hold of him, adding that he is “safe, and there was no physical harm inflicted on him.” It stressed he is currently “in a state of major stress.”

Given his current state, Pavel “will not provide any official comments” in the next few days. EXMO’s statement further added that Pavel’s abduction story has “overgrown with rumors that might tamper with the official investigation,” and as such it won’t comment on any possible scenario.

According to the statement, Pavel Lerner is a leading analyst at the exchange, not a director or CEO as reported by CCN and other mainstream media outlets, and a blockchain expert who, separately, leads various projects. The company restated that his role didn’t involve access to its users’ financial assets, and that the platform is still running as usual.

The statement ends thanking the cryptocurrency community for its support, and promising timely updates. It reads:

“EXMO team is deeply grateful to the cryptocurrency community and the media for their active support. We promise to timely provide any updates on the situation.”

After Lerner’s abduction, EXMO revealed through Twitter it was hit with a Distributed Denial of Service track (DDoS), which at the time led some to believe the abduction might’ve been politically motivated, as the Ukrainian executive was open about his connections with the exchange.

At press time, EXMO is currently the 20th largest cryptocurrency exchange and one of the most prominent in Ukraine, with a $133 million daily trading volume. It offers various crypto to fiat trading pairs, including crypto to Russian rubles. It reportedly has about 90,000 active users trading on its platform.

Details of Lerner’s kidnapping and current whereabouts are unclear. Given that EXMO refrains from commenting the case and Pavel himself is presumably recovering from the incident, we’ll have to wait for the investigation to progress.

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FT: EXMO Director Released From Kidnap After Paying $1 Mln Ransom

Pavel Lerner, the managing director of the cryptocurrency exchange EXMO kidnapped in Kiev Dec. 27, was released today after paying a $1 mln ransom in Bitcoin, The Financial Times (FT) reports.

Lerner was abducted in Kiev on Wednesday leaving his office. Ukrainian online publication Strana.ua was first to report that he was taken away by “unknown persons” in a black Mercedes Benz.

FT reports they were informed of the ransom payment by Anton Gerashchenko, an adviser to the Ukrainian interior minister. Gerashchenko told FT:

“He was kidnapped by an armed gang for the purpose of extorting Bitcoins. We have operative information that he paid more than $1 mln worth of Bitcoins.”

In an article published today, Strana.ua reported that sources in the local police believe the kidnappers were frightened into releasing Lerner after the story of his abduction garnered so much attention globally.

EXMO reps release statement

Today EXMO released an official statement about Lerner’s abduction. The statement reports that the company “got a hold” of Lerner today and that he is currently safe:

“At the moment, he is safe, and there was no physical harm inflicted on him. Nevertheless, Pavel is currently in a state of major stress; therefore, he will not provide any official comments in the coming days.”

The EXMO statement contains no mention of a ransom paid of any amount. In the statement, the exchange repeated that Lerner’s abduction in no way affected the company’s usual functioning:

“We would also like to point out that Pavel’s activity at EXMO did not involve an access to financial assets of our users. Despite the aforementioned, the platform continues its usual operations.”

However, according to the company’s official Twitter, the exchange was under DDoS attack just yesterday, Dec. 28.

According to Strana.ua, Lerner is a Russian citizen who holds a residence permit in Poland and is involved in a number of crypto/ Blockchain startups in Ukraine. FT reports that EXMO is officially registered in the UK, but has “operations in Ukraine.”

As per EXMO’s official statement today, the investigation into Lerner’s abduction continues and the identities of the kidnappers are still unknown. Once identified, the perpetrators could face up to five years imprisonment, in accordance with article 146.2 of the Ukrainian criminal code, which covers abduction for “mercenary purposes” or by a group of people “upon their prior conspiracy.”

As Bitcoin Hard Forks Go, ‘SegWit2x’ Launches With Little Support

Ethereum Classic fork
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The “SegWit2x” hard fork activated on Thursday at Bitcoin block 501451, but so far it has struggled to gain support from both users and cryptocurrency services.

‘SegWit2x’ Hard Fork Activates

Leading up to the fork, SegWit2x (B2X) futures surged in value, peaking above $1,200 on Dec. 27. This was likely because, due to the naming of the fork, many people mistakenly believed that it was a relaunch of the Jeff Garzik-led project that had failed to activate in November. However, despite what a SegWit2x spokesperson told CCN in an email, this fork should not be considered a continuation of the former protocol upgrade.

segwit2xSource: CoinMarketCap

As CCN detailed in an earlier piece covering the fork, B2X has a different development team — with questionable qualifications — as well as significantly-altered protocol specifications, which include changing the hashing and difficulty adjustment algorithms, blocktime, and address structure. Moreover, the B2X fork actually increases the blocksize to 4MB, not the 2MB suggested in the proposal’s name and advocated by the original SegWit2x backers.

Presumably because traders began to realize this, B2X plunged on Dec. 28. and is currently trading at just $323. Trading volume has also been incredibly thin during B2X’s first full day on exchanges, and the coin’s 24-hour volume is just $5.3 million.

segwit2xSource: CoinMarketCap

Cryptocurrency Services Shun B2X

This lack of launch-day support from exchanges is indicative of a larger that SegWit2x faces — assuming it is not an outright scam — as it seeks to establish itself as a sustainable cryptocurrency.

The network does not appear to have much support from mining pools, and the B2X team has been encouraging miners to use the developer-created pool.

Moreover, Freewallet is the only noteworthy wallet service to confirm that it will support B2X. Trezor, one of the most popular hardware wallet manufacturers, has said it will not support the fork as it appears to be a “premined scam,” pointing to the fact that the developers are seizing the coins airdropped to wallets belonging to Bitcoin creator Satoshi Nakamoto.

If bitcoin holders do intend to interact with the forked blockchain, they should do so with the utmost caution and avoid entering importing their private keys into a B2X wallet until they have moved their entire BTC balance to a new address.

Write to Josiah Wilmoth at josiah.wilmoth(at)cryptocoinsnews.com.

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Blockchain and Smart Contracts For Everyone: Interview With CEO of Matrix

Today, we continue to share our findings from BlockShow Asia 2017 being held in Singapore and here is one more expert interview coming.

This time we talked to Owen Tao, CEO of Matrix, a Blockchain company that is aiming to take Blockchain and smart contract to non-technical people using AI.

You are welcome to read the interview and travel through the expert mindings by yourself:

Cointelegraph: What brought you to launch Matrix?

Owen Tao: I’m a big fan of Blockchain and I have been following this industry for years. But the smart contract can only serve you if you know how to program; otherwise, you can’t use the smart contract. That this is the reason why Matrix uses AI technology – if you only just need to write down what you want or what you need in natural language –  it is the machines who will do the coding – that is, to run the smart contract for you.

That’s what we want. We want to create a smarter contract as much a Blockchain to serve anyone.

CT: How do you think: this technology and AI together will actually help us? Could it push the boundaries of what we think is possible?

OT: We hope that through Blockchain, the power of the smart contract could be accessible to every person and the inefficiencies at larger scale could be eliminated. These days, the most criticized part of mining is the waste of energy. In the future, more electricity will be wasted on mining the cryptocurrencies. So that’s the power going waste, which can actually be used for other opportunities such as sensitive computing and soft analysis. In a nutshell, we want the mining process generally to have universal values –  it is pretty much our dream for the future.

CT: Your background is more in business. Do you think that smart contracts will really change the way that business is done?

OT: In fact, it won’t change the rules one bit. The most important thing for Matrix is that we want to increase the number of people using Blockchain and smart contract. So one day we will have millions using these technologies all around the world and anyone could also use our product. That’s probably billions of users. So maybe we won’t change the business per se, but change the world of business.

CT: And in what industry, do you think, this technology will help the most? Which industry needs smart contracts and Blockchain more than anyone else?

OT: That’s actually a hard question. I’d say virtually any industry would require a service like this. For instance, in the future, maybe you’ll be able to put all the things on the network – you can make the machines do the work for you or you could even schedule the work for particular timings.

Say, you are working till late at the office but you don’t know when you will leave work. You could use the smart contract to leave the company before 7 p.m. This way your phone will call the restaurant and maybe book the seats for you and your girlfriend. If you leave work after 7, then maybe your phone will cover hotels: just put a room for you.

CT: That sounds very interesting! The future is gonna be different. One last question about the conference as a whole. Have you found out about something you didn’t know before and that you might want to implement into your business ventures in the future?

OT: Actually, this is my first time attending such a conference since BlockShow is the most attended Blockchain conference in the world. So this one is quite different for me. I really enjoyed the whole conference because of such wonderful speakers and I think I’ve learned a lot by talking to people from different backgrounds. I met people from all over the world.

Our project, Matrix, needs to do something along the same lines — connect everyone through Blockchain regardless our nationalities and language. We believe that cryptocurrencies will be the digital of the future. So I’m really glad I attended this conference.

CT: Thank you!

Ripple Mania: How Big Can the Bankers’ Cryptocurrency Get?

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For a brief period of time, Ripple overtook Ethereum to become the second largest cryptocurrency in the global market behind bitcoin, with a $72 billion market valuation, on December 29.

Ripple Mania in South Korea

Since then, the market cap of Ripple has fallen slightly from $72 billion to $70.3 billion, allowing Ethereum to regain its position as the second largest cryptocurrency.

It is the second time this year that a cryptocurrency has overtaken Ethereum in market valuation. In November, Bitcoin Cash briefly surpassed the market valuation of Ethereum, during a period in which the SegWit2x hard fork proposal was rejected by the market and the majority of SegWIt2x supporters moved to Bitcoin Cash.

At the time, Buterin wrote:

Over the past few weeks, CCN reported on several occasions that the demand for Ripple from South Korea and Japan are fueling its price growth. At the time of reporting, the price of Ripple in South Korea remains above $2, more than 10 percent higher than the global average price.

The demand for Ripple has surged in the two countries because of the partnership between Japanese banks led by SBI Ripple Asia and South Korean financial conglomerates to integrate Ripple’s blockchain-based technologies by January 2018. Ripple Labs and the developers of the Ripple network expected many billions of dollars to be processed on the RIpple network on a regular basis.

Price of cryptocurrencies on Korbit

As Korbit founder and CEO Tony Lyu told Nathaniel Poppers of The New York Times, once investors in the South Korean market are optimistic about a certain asset and its value continues to increase, every trader in the market moves towards that particular asset. The South Korean cryptocurrency exchange is very strongly affected by FOMO or fear of missing out.

“Word just spreads really fast in Korea. Once people are invested, they want everyone else to join the party. There’s been this huge, almost a community movement around this,” said Lyu.

Last month, the South Korean market rallied behind Bitcoin Cash, pushing the price of BCH in the local market to $3,700. This month, Ripple has been the focal point of the portfolios of South Korean investors.

Peter Brandt, an experienced and highly respected trader, stated that any investment or trade by FOMO is discouraged and it is an emotion which investors should not reflect on their trades.

“In my opinion, FOMO is one of the absolute worst emotions a trader can possess. I cannot count the number of traders I know who tapped out over FOMO. Learn to resist it or it will bury you,” said Brandt. “It’s my contention that many cryptomaniacs misunderstand FOMO. Markets thrust higher not because of buying from FOMO, but markets sense those with FOMO are missing out. When mass FOMO finally throws in the towel to buy its a top of some scale.”

Also, in a minor market like South Korea, cryptocurrency investors often look for reaffirmations by prominent traders or institutions to justify their trades. For local traders, the wide adoption of RIpple by leading banks has been a go signal for investment.

Is Ripple Sustainable?

Earlier this year, Ripple processed $180 million for Swedish bank SEB. If Ripple can process many billions of dollars on a daily basis on behalf of its partner banks, the high market cap of Ripple can be justified.

However, the market cap and price of Ripple should not be justified by TAM, or total addressable market, but rather with actual transaction volumes and user activity.

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What the Fork? New SegWit2x Launches With Massive Premine, Unknown Development Team

The new SegWit2x, a revival of the original hard fork designed to help with the scalability issues of Bitcoin, was scheduled to happen at Bitcoin block number 501451. That block was mined at around 6PM UTC, Dec. 28, and the team behind the project announced its official launch:

The original SegWit2x

The SegWit2x movement has originally started in May 2017, as a direct result of the New York Agreement (NYA). The idea behind the agreement, originally signed by more than 50 leading Bitcoin companies, was to achieve a compromise on how to scale Bitcoin for a larger audience.

One of the sides, the “small blockers,” wanted to implement the second-layer solution called SegWit, which did indeed take place on Aug. 24, 2017. That was the first part of the compromise. The other part of the deal was designed to appease the “big blockers” by increasing Bitcoin’s block size limit to 2 megabytes. However, this was never followed through with, directly violating the agreement.

The fork was slated to happen on Nov. 16. However, as the developers unveiled the actual code for the hard fork, a vastly negative reaction from the Bitcoin community immediately followed. The lack of replay protection, along with general concerns about the safety of a possible hard fork, gave rise to an entire movement against SegWit2x, aptly called #no2x.

After several weeks of controversy, the fork was cancelled on Nov. 8, about a week before its scheduled arrival. The team tasked with creating the code for SegWit2x shelved the plan due to a lack of consensus.

SegWit2x 2.0

The cancellation, apparently, only lasted so long, as the fork was seemingly revived in late December by a different group of developers. A website has been set up, stating  the mission, the roadmap and the team behind the new fork that was set to take place on Bitcoin block 501451.

Sketchy?

Reports began surfacing over the past several days that focused on several inconsistencies on the project’s home page.

First and foremost, the team behind the new fork has nothing to do with the people behind the original New York Agreement and the SegWit2x that was cancelled in November. They have even admitted it themselves in a chat with the Finance Magnates news site.

There is very little information available online about the team members listed on the official website. For example, the project’s supposed founder, Jaap Terlouw, only has a half-empty LinkedIn profile. There he claims that he is the ‘main developer’ of the new SegWit2x, with no other sources to corroborate his status as a ‘developer.’

Moreover, the project’s GitHub account is just 9 days old as of press time, which makes it even younger than some of the earlier announcements of the upcoming fork in the press.

Adding to the list of concerns, the code stored in that GitHub account indicates that the team members were planning to assign themselves 6 mln premined coins, a whopping 28% of the total supply of 21 mln:

21 mlm

This constitutes an incredible degree of control over the project that some would argue a scrupulous team should not have. Likewise, it represents an enormous (and instant) potential profit to the team members. This could encourage a quick pump-and-dump.

Paid-for press releases distributed to various Blockchain-related websites, such as Bitcoinist and even the Russian-language VC.ru, were highlighting the tremendous increase in the value of the futures contracts of the new SegWit2x, just as some other news outlets have been voicing concerns about the intentions of the team behind the project.

Topping the list of reasons for suspicion is the bizarre promise to issue “a proportional number of Satoshi Nakamoto`s Bitcoins” to all BTC holders after the fork takes place. No indication has been offered of how would the team actually be able to access the coins that have been held by the mysterious creator of Bitcoin since the earliest days of its existence.

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Ripple Price Surges 38%, Unseats Ethereum as Second-Largest Cryptocurrency

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Ripple price surged by 38 percent on Friday, enabling XRP to unseat ethereum as the second-most valuable cryptocurrency.

Ripple Unseats Ethereum as Second-Largest Cryptocurrency

Ripple’s late-December rally has been nothing short of breathtaking. The ripple price has managed to tread water during the market downturns, and it has surged during the calm periods in between. In the past week alone, the ripple price has leaped by more than 80 percent, bringing it to a present value of $1.63 on cryptocurrency exchange Bitfinex.

ripple priceXRP Price Chart

However, because XRP trading is heavily-concentrated in South Korea — where it trades at a significant premium — the global average ripple price is actually much higher. Bithumb alone accounts for 33 percent of all XRP trading volume, and insatiable demand from its traders has pushed the regional ripple price up to $2.10.

ripple priceSource: CoinMarketCap

At present, the ripple’s global average is $1.87, which represents a 29,000 percent increase from January 1, when it was valued at less than one cent.

Ripple’s market cap is now $72.4 billion. This makes XRP roughly $800 million more valuable than ethereum, which — apart from a brief period in May — had maintained the second-largest market cap for the entire year.

ripple priceSource: CoinMarketCap

This is even more remarkable considering that, just six months ago, ethereum came quite close to supplanting bitcoin for the top spot in the market cap rankings.

Ripple Price Surge Fueled by South Korea

Ripple’s rally has been led by South Korean traders and has been predicated on several recent announcements that Ripple has made regarding its activity in the region.

Earlier this week, Nikkei reported that SBI Ripple Asia had formed a partnership with a consortium of Japanese credit card processors, an announcement that came just two weeks after a group of South Korean and Japanese banks chose to use Ripple tech to conduct a cross-border blockchain-based payments trial.

Finally, Ripple has benefited from the revelation that although South Korean regulators are passing new measures to increase oversight of domestic cryptocurrency exchanges and cool off the heated cryptocurrency markets, rumors that the government would seek an outright ban on cryptocurrency trading have been proven unfounded.

Featured image from Shutterstock.

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