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Here’s why Ethereum’s value proposition may not be about scarcity

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Ethereum’s Vitalik Buterin recently commented on the maximum supply of ETH, stating that the current issuance schedule is approximately 4.7 million per year for the next 1-2 years, or however long it takes until the merge. After the same, it would be 0-2 million per year minus the burned fees which could be greater than the issuance once POS is fully in place, he added.

However, Buterin’s statements were met with criticism by some, many of whom argued that ETH was taking the position of “printing until however long it takes.” The said criticism was just the latest salvo in the debate around the lack of a hard cap for ETH, with Bitcoin’s cap of 21M often used to argue against those supporting Ethereum.

In fact, Bitcoin maximalists have often been among the first to take issue, with BTC proponents like Anthony Pompliano once tweeting to refer to ETH as ‘bad money.’

However, as Ryan Watkins of Messari was quick to point out, ETH has transitioned from being a piggy bank for ICOs to a burgeoning digital economy.

When examining the growth and maturity of the DeFi ecosystem, with multiple projects opting to build on the Ethereum blockchain, despite the high gas fees, the utility of Ethereum is clearly not exclusively tied to the scarcity of its supply or lack thereof.

However, as EIP1559 suggests, Ethereum will soon undergo a significant monetary policy change with the introduction of a deflationary mechanism to ETH, and this will mean a transformation on a massive scale. According to Buterin,

“Realistically, for the next 2 years, Ethereum will be an ecosystem under rapid transformation.”

However, many would argue that such transformation has to go hand in hand with progress, and the latter has been slow, especially since staking in the deposit contract has been slower than expected, despite community support backing Buterin and the Ethereum development team.

Source: https://eng.ambcrypto.com/ethereum-value-proposition-scarcity

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Audio Streaming Mogul Spotify Considering Cryptocurrency Payments

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Joining the tech and financial services bigwigs in the payments revolution, Spotify too is going the crypto way. The Swedish audio streaming and music services giant just put up a job offer for an Associate Director, Payments Strategy & Innovation. The desired candidate will play a key role in ‘navigating the company’s payments rudder’ through the cryptocurrency ecosystem.

Spotify Looking To Be A ‘Leading Player In The Cryptocurrency Space’

As per an official job opening that Spotify just posted, the company is looking for an Associate Director for their Payments Strategy & Innovation Team. The said individual would report to the Director of the same team. And will be instrumental in Spotify gaining a considerable foothold wrt integration of cryptocurrency payments. According to the description:

We are now looking for an outstanding Associate Director to join our Payments Strategy & Innovation team. This role will report to the Director, Payments Strategy & Innovation and will play a key part in defining and implementing Spotify’s payments strategy as well as leading Spotify’s activity within the Libra stablecoin project and wider digital asset & cryptocurrency space.

The objective is to address the company’s plan of ‘enabling new monetization opportunities’ for music creators. Also, Spotify wants its platform to become accessible to a larger section of potential users.

Spotify intends to inculcate all the latest fintech trends in their payments strategy, including cryptocurrencies. So that users from all sections of the society can access the music streaming platform.

Crypto Agenda Involves Libra As Well

One of the designated roles of the incoming Associate Payments Strategy Director would be to lead ‘Spotify’s day-to-day engagement with the Libra Association.’ This is due to the ongoing alliance of the company with Facebook’s digital currency project.

Along with this, the company is looking to leverage all the blue-chip aspects of the blockchain and cryptocurrency space. This includes stablecoins and Central Bank Digital Currencies (CBDCs). It is to streamline its transition to the most advanced payment methods available in finance at the moment.

The Associate Payments Strategy Director would be required to fulfill the above roadmap by making use of

Spotify’s global footprint to seek out innovation in the payments domain globally as well as emerging regulatory & market trends that could influence Spotify’s approach to payments.

Through all the above, the company actually intends to elevate its ‘reputation as a market leader in payments’, the website said. And give giant payments players like PayPal a run for their money.

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Source: https://cryptopotato.com/audio-streaming-mogul-spotify-considering-cryptocurrency-payments/

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Amazing Blocks joins startup and innovation hub TechQuartier

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We are pleased to announce that Amazing Blocks has joined the startup hub TechQuartier (TQ) in Frankfurt am Main, Germany. As the most prominent tech hub in the region, one with a diverse and globally connected startup community and numerous corporate partners, TechQuartier will help Amazing Blocks make strides in the finance capital of Frankfurt. This membership will enable Amazing Blocks to utilize the numerous resources, contacts, and acceleration programs this opportunity provides. Constant expansion of our ecosystem to scale our business is guaranteed by the TQ network for Amazing Blocks. TQ especially delivers stellar networking conditions, a future-oriented community, the chance to work alongside other innovators from a range of industries, and also enables direct access to established global players and academic institutions.

 

About TechQuartier

TechQuartier has been designated by the Federal Ministry for Economic Affairs and Energy as Germany’s “FinTech Hub.” It is located in the financial metropole of Frankfurt and was founded by the city council of Frankfurt, the renowned universities of Frankfurt and Darmstadt, as well as the WI – Bank for innovation in Hesse, Germany. Access to a unique ecosystem of corporates, investors, talents, startups, and mentors is provided to each member. With its vast amount of programs and events, TQ’s mission is to provide innovators with the tools and resources they require to foster growth. Additionally, the partner network is second to none with established players such as Visa, EY, PwC, and others illustrated in Figure 1 below. Moreover, the vibrant startup ecosystem offers over 3,200 square meters of flexible working space for startups, scale-ups, and the innovation teams of established companies.


About Amazing Blocks

Tokenization will inherit a key role in the future of Web 3.0 with billions of dollars expected to be invested in this space by 2027 according to multiple reports. Amazing Blocks supports with its IT solutions the legally compliant tokenization of equity and asset ownership in line with the Liechtenstein Token Act. Amazing Blocks was recently founded in Liechtenstein while using Ethereum as an initial contribution – a significant benefit of the legal framework. Hence bankless incorporation was conducted. Subsequently, we also generated the first-ever equity tokens for an AG in Liechtenstein – a true milestone we are proud of. The goal is to offer the perfect solution for tokenization projects (e.g. real estate, cars, machines). To be precise, this means flexible tokens (e.g. equity tokens or debt tokens or participation rights as tokens) in accordance with the Liechtenstein Token Act – which from a foreign point of view then represent e.g. a normal (un-traded) security. Then technology and the law (i.e., Liechtenstein Token Act) are seamlessly integrated with one solution or one legal form.

All in all, the “digital AG in Liechtenstein”, which uses the Liechtenstein Token Act, allows a very efficient foundation, a very efficient operation of a company in Liechtenstein, and thus above all an efficient and flexible tokenization. This should now make a wide variety of tokenization projects possible because the costs for tokenization are reduced to a minimum. A Liechtenstein bank is also no longer needed because the share capital for the new AG can be provided by cryptocurrencies such as ETH if desired. Furthermore, equity tokens in line with the Liechtenstein Token Act can be for instance locked in Defi protocols as collateral. This will provide much needed real-world use cases and liquidity for the space on the one hand and on the other hand enables illiquid assets like real estate to participate in these innovative protocols. Possibilities of the Amazing Blocks software are displayed below.


Amazing Blocks at TechQuartier

“Being a first mover in the space of legally compliant tokenization of assets and equity, TechQuartier provides us with the perfect conditions to accelerate growth. We are more than happy to be part of this truly amazing community and look forward to networking and expanding our business. We will utilize the profound ecosystem of TechQuartier to establish ourselves in the crucial location of Frankfurt”, as Sofia Balogianni, the CEO of Amazing Blocks described the decision to join the TechQuartier.

The first opportunity to speak to the community of TQ will be on the 18th of November 2020, when Amazing Blocks will join the regularly hosted pitching event called “Icebreaker”. These and further events paired with so-called office hours (face to face meetings with corporates) will help us inform the world of finance about our distinct solution. Also, it will give us the opportunity to receive feedback on our achievements thus far. With more than 120 startups alongside us, we will feel comfortable to further push the limits of disruptive innovation in the age of Web 3.0!

Do you like this article? We would be happy if you share it on social networks or forward it to your colleagues. If you are an expert in the field and want to criticize or endorse the article or some of its parts, feel free to leave a private note here or contextually and we will respond or address.

Amazing Blocks offers a tokenization solution that enables its clients to tokenize various assets according to the Liechtenstein Token Act (software-as-a-service). The software covers both the issuance of tokens and investing in tokens. It suits the needs for tokenizing all kinds of assets (e.g. machines, cash flow generating contracts, trademarks, real estate, cars). Imagine that some asset should be tokenized. For this asset, various tokens would make sense: Equity tokens, debt tokens, participation rights as tokens, ownership tokens, or any mixture of these tokens. The software of Amazing Blocks helps issuers to handle multiple assets and to issue multiple tokens for these assets. This is possible by integrating blockchain technology with the law (that is, the Liechtenstein Token Act). At the core, there is the “digital legal entity in Liechtenstein” based on “tokenized shares” which allows a very efficient foundation, a very efficient operation of the company, and, thus, an efficient and flexible possibility to tokenize assets. This should now make a wide variety of tokenization projects possible because the costs for tokenization are significantly reduced.

 


Interested? Then, contact us!

Are you interested in what Amazing Blocks are doing? Visit our website, write an email to hi@amazing-blocks.io, or follow us on LinkedIn or Twitter. Or provide your email address here and we will immediately send you more information.

 

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Charted: Ripple (XRP) is Primed For a Rally And Only 1 Thing is Holding it Back

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Ripple started a downside correction below $0.6500 against the US Dollar. XRP price is likely preparing for the next major move, similar to bitcoin and ETH.

  • Ripple corrected lower, but it remained stable above $0.6000 against the US dollar.
  • The price is struggling to clear $0.6500, but it is well above the 100 simple moving average (4-hours).
  • There is a major contracting triangle forming with resistance at $0.6340 on the 4-hours chart of the XRP/USD pair (data source from Kraken).
  • The pair is likely to surge above $0.6500 and $0.6800 as long as it is above the $0.5500 support.

Ripple’s XRP Price is Holding Key Supports

After trading as low as $0.4566, ripple’s XRP price started a fresh increase above $0.5500. Bitcoin price climbed back above $19,000 and ETH broke the $600 resistance.

XRP is now struggling to clear the $0.6350 and $0.6500 resistance levels. The last swing high was formed near $0.6896 before the price declined below $0.6000. It tested the 50% Fib retracement level of the upward move from the $0.4566 low to $0.6896 high.

The price remained well bid above $0.5750 and it recovered higher. It is now trading well above the $0.6000 support and the 100 simple moving average (4-hours).

Ripple’s XRP Price

Source: XRPUSD on TradingView.com

More importantly, there is a major contracting triangle forming with resistance at $0.6340 on the 4-hours chart of the XRP/USD pair. The triangle support is close to the 61.8% Fib retracement level of the upward move from the $0.4566 low to $0.6896 high.

If there is an upside break above the triangle resistance, the price could attempt to clear the $0.6500 resistance level. A successful close above the $0.6500 resistance could lift the price towards the $0.7000 resistance level in the next 3-4 days.

Downsides Break in XRP?

If ripple fails to surpass the $0.6340 and $0.6500 resistance levels, it could slowly move down. An initial support on the downside is near the $0.6000 level.

The first major support is now forming near the $0.5750 level. The main support is near the $0.5500 level, below which the price may even struggle to stay above the 100 simple moving average (4-hours).

Technical Indicators

4-Hours MACD – The MACD for XRP/USD is losing pace in the bearish zone.

4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is currently just below the 50 level.

Major Support Levels – $0.6000, $0.5750 and $0.5500.

Major Resistance Levels – $0.6340, $0.6500 and $0.7000.

Source: https://www.newsbtc.com/analysis/xrp/ripple-xrp-is-primed-for-rally-065/

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