As you may remember, recently Newconomy has introduced an experimental DAO for our community. Now, every Monday and Thursday we gather online to share some market insights and highlight key events of blockchain industry for our viewers. This Monday, Sergey Sevantsyan picked out some important news and announcements in the industry and presented to the audience.
The first piece of news came from the traditional financial sector. Financial Times recently released an article, saying that the largest global institutions, the International Monetary Fund (IMF) and the World Bank (WB), have jointly launched a private blockchain and a “quasi-cryptocurrency” called “Learning Coin”.
Purpose of “Learning Coin” is to educate both organizations’ staff. The coin will also have an application, serving a social platform with blogs, research, videos, and presentations. Users will be awarded tokens for completing certain tasks, with an option to withdraw them, because it could help to learn how crypto can be used in real life.
The IMF representative commented on the announcement:
“The development of crypto-assets and distributed ledger technology is evolving rapidly, as is the amount of information (both neutral and vested) surrounding it. This is forcing central banks, regulators and financial institutions to recognize a growing knowledge gap between the legislators, policymakers, economists and the technology.”
WB and IMF might reportedly use gathered knowledge to set up smart contracts, fight money laundering and enhance transparency in finances globally.
Next, Sevantsyan moved to crypto entertainment news. Despite an increasing regulation, the dark corners in the crypto industry remain, inhabited by malefactors. This dark side of the industry was reflected in a Hollywood movie called “Crypto”, released on April 12. The cast includes Luke Hemsworth and Beau Knapp, along with an old stager ― Kurt Russel.
According to a storyline, a young Wall Street banker returns to his hometown and is becoming drawn into investigating a “tangled web of corruption and fraud”. Mystery, big money and a passionate hero ― everything that we like so much about crypto.
But let’s get back to the real world. Our expert immersed himself in the price forecasts, presenting a graph of possible BTC/USD price change using 13 different methods. And they say that the market is “really live”, noted Sevantsyan. The Bitcoin’s second competitor, Ethereum, is also feeling fine, with its price targeting a $180 level in the short-term, according to the same graph line of 13 aggregated methods.
Next goes the new section ― the Newconomy’s weekly review of current or upcoming IEOs. If you are not aware yet, IEO (Initial Exchange Offering) is a trendy way of fundraising on the cryptocurrency market. This week, our journalists have observed three promising projects.
Vietnam-based RedFOX Labs company plans to go IEO on the Coineal Launchpad, starting from April 19. It is a blockchain company, targeting at replicating successful businesses for emerging technology markets. It calls itself an incubator, “a startup that builds startups.” By building the RedFOX means copying, and it’s not confused with it. Those who live outside Asia may be confused, but after all, the Chinese economy has become successful thanks to the “copycat” companies that later grew into the global leaders. Remember Huawei or Lenovo.
Another IEO is conducted by the Cryptobuyer, which has launched presale on April 15. Initially, it was a crypto exchange, rolled out in South America back in 2015. As some countries in the region has big problems with national value, the platform had become a popular way of dumping fiat money. So it’s no wonder that now Cryptobuyer is also managing a fast-growing network of crypto-ATMs that allows exchanging fiat money for crypto. A great way to preserve the value of a salary or savings amidst hyperinflation.
Finally, Nuvo project is organizing a token sale through a Probit exchange. It is building a proprietary blockchain with its own token, acting as a foundation on which decentralized social media networks can be built. That’s especially vital in developing countries with the lack of free media or any other kind of information source. There is already one decentralized mobile application created in the Nuvo protocol called Jamaa, with more than 13,500 registered users.
And for the wrap-up, Sergey Sevantsyan presented a list of experts who are about to perform for the Newconomy’s DAO community. They are Brandon West, blockchain developer at FinTech Consulting Group; Derek Sorensen, a research mathematician at Pyrotex corporation; blockchain lawyer Vilma Matilla; CEO TimeBox Alex Chang; investor Mario Nawfal.
A great (yet not the only) advantage of our DAO is that every member has a vote to cast for a candidate. Thus, the community chooses two experts that will perform on a meetup at Thursday, and this cycle reproduces every week. So, see you on Thursday!