Extending financial inclusion to billions of the world’s unbanked population has been a foundational objective that the global cryptocurrency community has shared from the dawn of the blockchain movement. 

Starting with Satoshi Nakamoto, the elusive creator of Bitcoin, stakeholders across the board have pursued this objective using different approaches over the past decade. PointPay is one such project that aims to help the decentralized digital economy upstage legacy finance.

PointPay pitches itself as an all-encompassing blockchain ecosystem consisting of ten unique, high-value products. There is a crypto bank, an exchange, a crypto wallet, a crypto-focused educational platform, and a homegrown ERC-20 token to facilitate seamless transfer of value, among other products.

With the PointPay token (PXP) pre-sale garnering attention from various corners, we think it’s time to shed light on the individual products. While there, we’ll also try to evaluate how PointPay claims to have combined these to offer a self-sustaining blockchain ecosystem.

What is PointPay?

PointPay is a crypto startup founded in Estonia in 2018. It claims to be the first-of-its-kind blockchain-powered bank that enables people to open cryptocurrency check and saving accounts using their phone or another device. The platform states that users can earn daily sizable compound interest on their crypto holdings.

In 2019, PointPay was voted the best blockchain startup at Eastern Europe’s biggest blockchain conference, Blockchain Life.

As of May 2021, PointPay supports popular cryptos including bitcoin (BTC), ethereum (ETH), tether (USDT), tether gold (XAUT), as well as the platform’s homegrown PXP.

The PointPay ecosystem offers:

  • Blockchain-based bank (launched)
  • Crypto exchange (launched)
  • Crypto wallet (launched)
  • Payment system (launched)
  • Crypto school (launched)
  • Crypto loan module (launched)
  • Mobile banking applications for iOS and Android (launched)
  • Instant payment solution powered by PointPay’s native offchain technology (launched)
  • VISA crypto debit card (pre-order phase)

PointPay is available for users from all around the world, the only exceptions are countries sanctioned by the United States.

PointPay token: PXP

The PXP token is ERC20 compliant and issued on the Ethereum platform, ensuring timeous transactions and compatibility with third-party services. PointPay customers can earn higher yields on PointPay Bank with this token.

Customers are also able to reduce transfer fees and receive discounts for taking crypto loans for PXP token holders. Traders can also reduce maker/ taker fees on the PointPay Exchange. In the future, PointPay will roll out the following features:

  • Burning model for PXP token
  • Buy-back system for PXP token
  • Lower swap fees for PXP token holders on PointPay Crypto Wallet
  • Native blockchain creation

An in-depth understanding of the ten-product ecosystem

Through one account, PayPoint customers will have access to all ten products available within the ecosystem.

PointPay Crypto Bank

The blockchain-based bank is the first of its kind, according to PointPay. It allows people to open a cryptocurrency checking or savings account from anywhere. This can be done on a smartphone or other device. Those with an account can earn daily accruals. Account-holders can open a crypto savings and checking account that supports BTC, ETH, USDT, XAUT, and PXP.

Current features:

  • Crypto checking and savings accounts
  • Easy transfer options between accounts within the bank and ecosystem
  • Daily compound interest
  • Highest interest rates in the industry*
  • BTC, ETH, USDT, XAUT, and PXP support
  • A higher yield for PXP token holders on a progressive scale

* according to PointPay

Future features:

  • Fast bank-to-bank fiat transfers
  • Fast C2C fiat transfers
  • Banking license in Wyoming
  • Banking license in the Cayman Islands

How to buy PXP tokens in PointPay Bank:

  1. Use PointPay Payment System to purchase cryptocurrency for U.S dollar, euro, Russian ruble, etc if you do not have any cryptocurrency
  2. Using the deposit tab, transfer your cryptocurrency to PointPay Bank
  3. Click the “Convert to PXP” button on the cryptocurrency which you are going to spend

PointPay Crypto Exchange

Seamless custom trading UI with market, limit and stop-limit orders. For those newbies in the world of cryptocurrency, there are helpful video tutorials that can be utilized to get yourself familiar with a cryptocurrency exchange. Additionally, there is a Quick Exchange option. Exchange options include cryptocurrency to cryptocurrency, fiat to fiat, cryptocurrency to fiat and fiat to cryptocurrency.

Current features:

  • Crypto School
  • Market, limit and stop-limit orders support
  • Simplified cryptocurrency conversion option
  • Referral system (50% bonus) and bright advertising banners
  • Progressive discount scale for PXP token holders
  • Day or night mode
  • Multi-language chat in Chinese, English and Russian
  • Accessible from smartphones and tablets
  • 24/7 customer support
  • Automatical calculation of liquidity in chosen orders in the order books
  • Public API

Future features:

  • IEO capability
  • Visual effects for new created orders
  • Market depth chart
  • Trading competitions
  • OTC trading
  • Cashback
  • CFD trading
  • AI trading

PointPay Crypto Wallet

Through the Crypto Wallet, people can easily send cryptocurrency through email. The wallet also creates an easy way to track price changes within a person’s cryptocurrency portfolio. The wallet supports multiple currencies and offers real-time rates.

Current features:

  • Multi-currency capability
  • Real-time rates
  • Cryptocurrency portfolio
  • Sending the funds via email
  • Day or night mode
  • Balance top-up with QR codes
  • Email notifications for deposits and withdrawals
  • Accessible from smartphones and tablets

Future features:

  • Sending funds via a phone number
  • More currencies will be added
  • Instant swap
  • ERC20 tokens support
  • Recovery by the seed-phrase

PointPay Payment System

Buying popular cryptocurrencies is made simple through this payment system. Customers can purchase BTC, ETH, USDT, XRP, LTC, and more from their debit or credit card for 30 major fiat currencies including the U.S dollar, euro, and Great British pound. A sell option with the lowest fees is available for the U.S dollar, Russian ruble, and the Ukraine hryvnia, according to PointPay.

Current features:

  • Buy or sell options
  • Major fiat currencies support
  • Major cryptocurrencies support
  • A fully automated conversion process

Future features:

  • Public API for fintech projects
  • Cryptocurrency acquiring for merchants
  • More providers
  • More fiat currencies

PointPay Crypto School for the World

This is an extensive ‘how-to’ for beginners wanting to trade and make money in the cryptocurrency market. The comprehensive set of resources include over twenty tutorials.

To support global education in cryptocurrency and blockchain, there are three difficulty levels of understanding available for customers to further their knowledge: beginner, medium and expert. PXP token holders will receive access to premium video content that is not readily available to those who do not hold PXP.

Current features:

  • Over twenty video tutorials available
  • Three difficulty levels: beginner, medium and expert
  • Access to premium video tutorials for PXP token holders

Future features:

  • Additional free educational videos will be created
  • Written educational materials for PXP holders
  • Translation and availability in more languages

PointPay Crypto Loan module

Customers can receive an instant, crypto-backed loan anywhere in the world regardless of their credit history. PXP holders will be granted a lower cryptocurrency interest rate. PointPay states that the more PXP you have in your bank, the lower the rate. To purchase PXP tokens and decrease your interest rate, use this link.

Current features:

  • Instant cryptocurrency credit line
  • Top 10 cryptocurrency support
  • Adjustable LTV rate
  • Payment schedule
  • Discounts to PXP token holders 

Future features:

  • Fiat loans
  • Referral system
  • More currencies to be added as collateral

PointPay mobile banking applications for iOS and Android

A mobile banking app is available in the Google Play and Apple App Store. The apps allow customers to access the ecosystem to exchange currencies, buy or sell cryptocurrency, send or receive cryptocurrency, and conveniently access information at their fingertips.

PointPay Native Offchain Technology

PointPay’s native offchain technology allows for transfers between Bank, Exchange, Wallet, Payment System, and both Android and iOS mobile banking apps.

Current features:

  • Instant transfers between all PointPay products
  • Competitive fees
  • Off-protocol confirmation of transactions
  • Discounts for internal transfers for PXP token holders

Future feature:

  • Instant fiat transfers within PointPay ecosystem

PointPay VISA crypto debit card

Customers will soon be able to use a fully integrated VISA crypto debit card which instantly converts to fiat currency. With this, people will be able to purchase items from 25 million outlets worldwide.

The card, which is currently in its pre-order stage, will allow holders to spend their cryptocurrency at anytime and anywhere. Tokens can be transferred into local fiat funds within 15 seconds. All that will need to be done is a transfer of cryptocurrency from the PointPay Bank, Exchange or Wallet to the card’s crypto wallet.

Do PointPay offer a self-sustaining blockchain ecosystem?

PointPay has undoubtedly created an all-in-one cryptocurrency ecosystem. The offering can definitely be considered disruptive to traditional banking systems.

The approach to targeting new entrants to the cryptocurrency market is fool-proof. This is evident in the ease and simplicity of setting up an account.

PointPay makes it seamless for novice and experienced cryptocurrency traders to advance their skills by encouraging self-education through their online learning arsenal. Through this ecosystem, customers can issue invoices or send funds via email. Loans can be taken out under collateral of certain cryptocurrencies online or through the app.

Access to all ten products through one account certainly fosters the sense of a self-sustaining blockchain ecosystem.

However, it can be argued that if PointPay customers aren’t utilizing all of the products, such as not purchasing PXP tokens, can it then truly be self-sustaining? A piece of the puzzle is missing, sure, but this won’t halt the user experience or benefits entirely.

Customers simply won’t reap all the benefits available to them should they choose not to purchase PXP.

It can be argued that the ecosystem is self-sustaining, whether or not customers purchase PXP. They will however benefit greatly by purchasing PXP. Again it isn’t necessary to survive in the ecosystem but just far more advantageous to do so.

With PointPay, unlike most good things in life, you’re better off indulging in all their products. From a blockchain-based bank, cryptocurrency exchange and wallet, educational tutorials, a payment system, and a token sales platform: we may well be looking at the future of cryptocurrency banking systems.

To find out more about PointPay, visit their website, contact the team or sign up here.


All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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eBay is now allowing NFTs to be sold on its platform, making the digital collectibles available side by side with physical ones. Whether you’re looking for a physical Dogecoin replica or a digital representation of Elon Musk holding Doge, eBay is apparently now the place to get both.

At the moment, eBay wants to make sure that NFTs are listed by trusted sellers, and only in certain categories like trading cards, music, entertainment, and art. The company does say, though, that it hopes to expand its policies and tools in the future to allow more categories after it’s gathered feedback from the community with the current crop of NFTs.

The first result when searching “NFT” on eBay, to the surprise of no one.

The blog post also mentions future updates to allow “blockchain-driven collectables,” though it doesn’t expand on what that means outside of NFTs.

eBay’s CEO said earlier this month that the company would be open to accepting cryptocurrencies in the future, but at the moment the NFTs being sold on the platform seem to be using its standard payment system linked to a credit card or PayPal account.

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Essentially born in response to the 2008 banking sector crash, bitcoin – the first cryptocurrency has only ballooned since then. Till date, of more than 8,000 blockchain-based cryptocurrencies available, bitcoin is the most popular and valuable.

Characteristically, cryptocurrencies are decentralized as they run on a network of computers. This means the currencies based on blockchain cannot be controlled by any one individual. Unlike traditional financial system, transactions with cryptocurrency only involve exchanges and digital wallets. This implies for transactions with cryptocurrency, it is only crypto tokens that exist as digital record of share ownership stored on the blockchain. Elaborately, when two parties exchange cryptocurrencies, the transaction does not culminate until it has been confirmed and added to the blockchain that requires solving complex mathematical equations. The process is called mining, and is the way for new tokens to come into circulation.

Howbeit, despite a slew of prominent differences cryptocurrencies and conventional currencies have few things in common: they both enable easy payments and act as a store of value. On the other hand, cryptos offer features that traditional money system lack or is downright impossible for them to emulate. The first and foremost being, cryptos can be transferred, received, and traded by anyone, anywhere at any time across the world that does not require a bank, government, or third party. With such attributes, several industry experts consider cryptocurrency to be a lucrative digital currency that could revolutionize the entire realm of financial transactions. Hence, with such might that can challenge the long-established robust financial system, the outstanding growth of the cryptocurrency market at a whopping 31.30% CAGR from 2017-2025 is explained.

Request Brochure – https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=38240

Cryptocurrency Market – Key Findings of the Report 

Worldwide Popularity of Bitcoin spells Growth 

Bitcoin has been the most popular and widely circulated cryptocurrency till date. This is attributed to relevance of bitcoin transactions in terms of security, utility, and asset creation. The counterfeiting of bitcoin is virtually impossible as this would entail confusing all participants in the blockchain network.

However, contrarily, bitcoin miners face the rage of inspection authorities in regions where crypto is banned. Furthermore, bitcoin also faces flak as it eats humongous amount of electricity. This has raised alerts in the energy sector that advocates bans and restrictions on mining of cryptocurrency in several regions. Nonetheless, the growth of cryptocurrency market is predicted at a stellar pace in the coming years.

Outbreak of COVID-19 Mix of Opportunities for Market 

With the outbreak of COVID-19, the increasing inclination toward digitalization has led to spurt in growth of the cryptocurrency market. Individual investors, small enterprises, and small-scale industries are increasingly switching to digital money to prevent loss of cash in the event of economic collapse or further crisis in the current situation. Besides this, the decentralized nature of cryptocurrency adds to its security feature.

Nonetheless, risk of volatility that cannot be predicted in the current crisis could hamper the growth of cryptocurrency market.

Cryptocurrency Market – Growth Drivers 

  • Acceptance of cryptocurrency by several countries as a legal tender is key to the growth of cryptocurrency market. The increasing use of digital ledgers and blockchain technology in the entire financial space, with the spiraling popularity of assets such as bitcoin and ethereum are important aspects that fuel growth.
  • Virtues of free of baggage of interest rate, exchange rate, or charges present in traditional financial system brings tremendous growth opportunities.

Cryptocurrency Market – Key Players 

  • NVIDIA Corporation
  • Intel Corporation
  • Microsoft Corporation

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Counterfeit whiskies are becoming more of a problem, but technology might just help provide a solution in the future. Whisky makers are starting to explore the use of blockchain technology to provide a traceable record of their whiskies right down to the bottle, with increased transparency and the potential to show if a bottle has been tampered with. Chris Ratcliff will break the code behind blockchain for us on this week’s WhiskyCast In-Depth. In the news, the deadline for a doubling of tariffs on American whiskies by the European Union and Great Britain is getting dangerously close at a time when federal pandemic economic aid for distilleries is still in its early days. We’ll have those stories and later, we’ll bust the myth of the so-called “neck pour.”

Links: Adelphi | Whisky Auctioneer | Catoctin Creek | St. Augustine Distillery | The Seattle Times | Clynelish | Heaven Hill | George Dickel | J.P. Wiser’s | Belfour Spirits | “A Last Chat with Jim McEwan” | Food & Wine | Black Button Distilling | Amrut | The Whisky Exchange | Glenfarclas

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Financial markets

Credit: Tech Daily, Unsplash

Cryptocurrency leader Blockchain.com has acquired Artificial Intelligence Exchange. 

AiX, also based in London, has developed an AI chatbot for negotiating over-the-counter trading. 

Terms have not been disclosed for the acquisition, which Blockchain.com said would boost its institutional offering. 

AiX’s team includes former employees at JP Morgan and Goldman Sachs. 

A mammoth £219 million funding round valued Blockchain.com at £3.8 billion in March, while it also raised around £87m from ‘macro investors’ barely a month before that.   

The Series C round featured partners of DST Global, Lightspeed Venture Partners and VY Capital, with participation from other existing investors from around the world. 

The London firm is billed as the most popular place to securely buy, store, trade and use cryptocurrency.  

Led by CEO and co-founder Peter Smith, it says its platform is trusted by 70m wallets, with more than $620bn in transactions having gone through the platform since 2013.   

More than 31m verified users in 200+ countries use Blockchain.com’s products and it has seen a three-times increase in active users over the past 12 months alone. 

The AiX team brings deep engineering, trading, and operational expertise from some of the world’s most respected financial institutions, including JP Morgan and Goldman Sachs,” Smith wrote in a blog post.  

AiX CEO Jos Evans spent 15 year trading and broking in derivatives markets. In fact, he previously launched and sold a brokerage, which was a pioneer in creating new commodity derivatives.  

AiX COO, Taylor Cable held a number of roles — including Senior Trader, Project Manager and Portfolio Manager — at Louis Bacon’s Moore Capital Management for over 15 years. 

When we raised our Series C last month, I shared our vision to aggressively expand our products, grow our customer base, and to pursue M&A opportunities that bring new products and ideas into the company.  

Given that our institutional markets businesses are rapidly growing, it’s fitting that AiX join us to accelerate development of products and solutions for Institutions. 

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Ready to buy Ethereum? Here’s how to get started.

As you venture into the world of cryptocurrencies, you’ll quickly come across Ethereum. It’s the world’s second-biggest cryptocurrency, and it’s faster and more adaptable than its big sibling Bitcoin.

Ethereum is a programmable blockchain. Blockchains are like super–sophisticated databases that are difficult to tamper with — cryptocurrencies like Ethereum and Bitcoin both use blockchain technology.Ethereum is designed so developers can use it to create new coins. It also runs smart contracts or self-executing contracts, which are small pieces of code that let people set up automated legal agreements that don’t need a middleman. (For example, a smart contract can automatically push through a transaction without human intervention, depending on the terms of the agreement.)

The main risks when you buy any cryptocurrency are volatility, hacking, theft, and scams. The following steps will help reduce these risks so you can safely buy Ethereum.

1. Decide how much Ethereum you want to buy

When you see headlines about huge jumps in prices, it can be tempting to invest every cent you can get your hands on. But what would you do if that currency failed tomorrow and you lost it all?

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The values of cryptocurrencies can increase and decrease dramatically. That’s why it’s advisable to only invest money you can afford to lose. Try to invest for the long term so you can ride out any major dips. If the price of Ethereum falls, you don’t want to be forced to sell your assets at a loss because you need the cash.

Research Ethereum and decide if it fits well with your overall investment goals. Ideally, your crypto should be part of a wider portfolio that balances higher risk investments against safer ones.

2. Find a secure cryptocurrency exchange or brokerage

Almost all cryptocurrency exchanges will sell Ethereum since it’s such a popular coin. If you haven’t bought crypto before, find an exchange that accepts fiat (traditional) money, such as U.S. dollars.

On our list of top cryptocurrency exchanges, you’ll find a mixture of brokerages and exchanges. Some brokerages, like Robinhood, let customers buy crypto alongside their other stock market offerings. In contrast, exchanges are solely focused on crypto — usually with a wider selection of coins and additional functionality.

Look for one that meets your needs. If you already hold stocks and plan to buy and hold Ethereum, your existing brokerage might be able to help. However, an exchange may make more sense if you plan to trade a selection of coins and want to move your assets into a wallet. (We’ll discuss these shortly.)

Check the security credentials carefully. Where does the platform keep its assets? Does it have insurance? Keep in mind that while stock brokers have SIPC insurance to cover investors in case the brokerage fails, crypto exchanges do not.

3. Create an account, deposit money, and buy your Ethereum

When you create an account, you’ll probably need to confirm your identity before you can deposit funds. You can usually do this by uploading an image of your passport or ID. Make sure you choose a secure password and enable two-factor authentication to safeguard your account.

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Next, you’ll need to deposit money. Depending on the platform and your bank, you may be able to transfer money directly from your bank account. You may also be able to pay by credit or debit card, but this often comes with an additional fee. There are several factors that impact the time it will take, including the exchange, your bank, and your payment method.

Once your cash arrives, you’re ready to buy your Ethereum. Every exchange has some kind of “Buy crypto” option. From there, you can fill in the amount you want to spend and check how much Ethereum you will receive. Congratulations, you now own Ethereum!

You will need to pay taxes on your crypto activities, so make sure you keep a record of your purchases.

4. Consider a wallet

You can keep your coins with the exchange or brokerage where you bought them. These days, reputable exchanges store the majority of assets offline, which makes them hard to steal. The danger is that hackers have successfully targeted exchanges in the past. And, unlike money you hold in a bank, it’s very difficult to recover any crypto that’s been stolen. That’s why many crypto enthusiasts keep their coins in wallets.

If you don’t want to keep your coins on the exchange, you’ll need a cryptocurrency wallet. Digital currencies have keys that are a bit like your bank account number and PIN. A wallet helps keep those keys secure — and keep your assets safe.

There are two types of wallet:

  • Cold wallets: Cold wallets are not connected to the internet and are usually a piece of hardware you can buy for $50 to $150. These are generally considered the most secure way to keep your crypto.
  • Hot wallets: Hot wallets are connected to the internet and give you easy access to your funds. They are free to install but may charge transaction fees if you want to move your currency. These are a good way to store crypto you may want to access day-to-day, just as you’d keep some cash in a normal wallet.

Finally, whether you keep your money in a wallet or on an exchange, be wary of scams. Don’t trust anybody who calls and asks you to share your account information. Always type website URLs directly into your browser rather than clicking on links you receive by email. And if you’re downloading an app, double check the name is spelled correctly and the logo is right. You don’t want to put your details into a fake app.

Once you’ve set up an account, you’ll find it’s easy to buy Ethereum and many other cryptocurrencies. From here, it’s up to you — you can trade it, use it to buy NFTs, or hold it for the long term.

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Here is a list of companies that were popular on the site in the latest week.

Argo Blockchain

UK listed cryptocurrency miner Argo Blockchain (LON:) was popular after the company announced its April mining figures. The company said it mined 163 Bitcoins in April, down slightly from 165 in March. Shares opened the week at 192.5p before hitting a high of 200p on Tuesday. Shares closed the week at 172p.

Argo Blockchain

John Laing

John Laing Group (LON:) was popular on the site after the company announced it was in discussions with KKR to be taken over. Shares opened the week 315.00p before rallying almost 20% on Thursday after the news broke to a high of 387.00p. Shares retreated slightly on Friday to close at 364.00p.

John Laing

Omega Diagnostics

UK based Omega Diagnostics (LON:) announced positive data for its Mologix Covid-19 lateral flow antigen test. Omega Diagnostics shares opened the week at 71.25p before rallying to close the week near its weekly high at 84.00p.

Omega Diagnostics


Uber (NYSE:) has been in the news after the company partnered with electric vehicle manufacturer Arrival. Separately, the company’s business model has come under threat in the US after the Biden administration’s new labour secretary signalled his intent to look more closely at the classification of gig economy workers. Uber shares opened the week at $55.12 but retreated throughout the week. On Thursday, shares hit a low of $45.74 before closing slightly off the lows at $47.03.


AstraZeneca (NASDAQ:)

AstraZeneca (LON:) shares were in focus as the Covid-19 vaccine maker continues to grab headlines. On Friday, the UK recommended that people under the age of 40 receive a different jab to AstraZeneca’s due to the risk of blood clots, some of which have been fatal. AstraZeneca shares opened the week at 7,828p and traded mixed throughout the week before closing at 7,735p on Friday.  

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

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Aventus Network, a layer-2 blockchain or distributed ledger tech (DLT) protocol that aims to provide scalability, speed and lower costs to Ethereum (ETH) transactions, has introduced its community governance platform, offering Aventus Token (AVT) holders with complete control over “major decisions” regarding the network and a lot more transparency.

In the foreseeable future, all decisions regarding parameters, chain configuration, and upgrades related to the Aventus Network (AvN) and AVT will be “decided by a binding community vote,” according to a blog post by Aventus.

As mentioned in the announcement:

“The voting system is being rolled out using the framework via snapshot.page — a popular off-chain, gas-less, multi-governance community polling dashboard. Any AVT holder can participate in voting, with each held token equating to a single vote. AVT holders who are part of the Validator Scheme can also participate, receiving two votes for each AVT staked. There are 10 million AVT in circulating supply, with 2.5 million of these staked on the Network.”

Alan Vey, Co-Founder and CEO at Aventus Network, noted that the introduction of their governance platform aims to ensure that AVT holders have a say in deciding or determining the future development of the Aventus Network.

Vey explained that this is part of their wider ethos of promoting transparency and “robustness” in all of their activities.

Vey added:

“Not only do we believe that this is an important step for our Network — we believe this approach is the natural next step for blockchain as the technology matures and its use-cases expand. We are 100% committed to being community-led and look forward to engaging directly with our token holders.”

The initial proposals being hosted via the platform will be “non-binding” test proposals, in order to accurately assess or gauge voter turnout levels while ensuring that token holders “understand the process.”

To learn more about the Aventus Governance process, check here.

As covered in March 2021, the team at Aventus Network explained how block explorers offer greater transparency (while carrying out monetary transactions).

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The effect of technology, on the beauty and lifestyle industry, has exponentially increased its market share – and then some! As of 2020, the beauty and lifestyle market segmentation has been valued at over $532 billion dollars. Adding over two billion digital buyers to the list, the beauty and lifestyle industry has seemingly reached its golden years. In the coming years, without a shadow of a doubt, the market value is bound to reach new heights.

Modifications in technology has opened-up the beauty and lifestyle market to a world of vast and quite often unfamiliar opportunities. In fact, over the last 5 years, beyond digital payment gateways, customer relationship management, and global marketing, technology has been the catalyst by helping quadruple the market value— currently reaching an annual growth rate of 27%. 

The digital revolution in the luxury retail market is taking flight:

In June 2017, luxury brand leader LVMH launched its online retail store named 24 Sevres. In addition, the global powerhouse named their e-commerce portal after their brick and mortar store – which is situated in the heart of Paris. Luxury fashion noteworthy players such as Far-fetch, Yoox, and Net-A-Porter have all seemingly taken significant roles in implementing the digital revolution to new heights. In fact, they many times invest tremendously in premium content and technology— to cover wider audiences and market share.

More to the point, the beauty and luxury market is perfectly aligned to E-commerce. The reason for the alignment, when promoted online, is that there is a wider scope of potential customers and brand awareness.

Recently, I had a short yet exclusive interview with Jun Li, Founder of ONTology, a company that addresses itself as the blockchain for self-sovereign ID and data, (Their OScore product launched the very first credit scoring system in blockchain history. Another great feat is their partnership with Daimler Mobility, parent of Mercedes Benz) on how technologies like Blockchain influences today’s ever changing fashion beauty and luxury market.

Joseph DeAcetis: In your words, how is blockchain technology aiding the fashion and beauty luxury market today?

Jun Li: There are a multitude of ways blockchain affects the luxury market. With all premium markets, such as beauty or luxury, the verification of authenticity is of vital importance. You would be able to track the manufacturer and verify the item you are transacting with through the power of blockchain technology. 

But more importantly, you would be able to trace and verify the supply chain process. In a field like luxury, changes are being made constantly, especially towards a greener, eco-friendly solution. You can track this change from a raw material standpoint, moving along the supply chain until the bag is sitting on a shelf in your Louis Vuitton store. 

This gives luxury brands a new processing method of signaling to their users where they stand on key issues revolving around raw materials and the supply chain. In addition, we have included a decentralized identity layer protection for luxury NFT’s as we envision this space to grow exponentially soon. It allows companies to quickly migrate and store data on our blockchain through our data attestation service which reduces their data storage fees. 

JD: Talk to Forbes about whether or not advancements in technology will signal change in the beauty, lifestyle, and luxury markets? If so, what role does Ontology play in this light?

Jun Li: The beauty of decentralized identity being a core principle at Ontology is that it can be extrapolated and applied in a variety of fields, including the luxury market. For starters, luxury is about taste and personal preferences. It is a form of signaling, or more accurately, a form of signaling your identity. 

Through decentralization, we can attribute your taste in luxury and beauty markets to who you truly are — your identity. In terms of application, being able to track accurately your history of purchases reveals a certain part of you, while protecting your actual identities such as your name, weight, eye colour, or other elements that get biased in the beauty space. 

Imagine Sephora or Louis Vuitton knowing who you are at an identity level, without being able to access your sensitive data points. They would be able to better accustom what your luxury and beauty needs are, such as which toner is more suited for you based on previous transactions made, rather than just how you are feeling at the moment. 

This removes stigma and biases affected on a retail level and instead allows them to better accommodate you on an identity level while having it protected through decentralization. Also, our data attestation service can be utilized for fast and cheap alternatives.

High-tech is giving the beauty and luxury industries a complete makeover

Technology is constantly evolving, and so is consumer demand for speed and efficient service. In the near future, businesses will need to find more efficient ways to satisfy consumer demand.

In an industry with an estimated worth over $532 billion, the beauty industry has been cautious in keeping up with technological advancements. And keeping up is what it’s all about in the 2020’s. Given all technology that’s available today, there hasn’t been too much penetration in the beauty market by advanced technology such as AI. 

But all that is about to change. As tech-forward companies are implementing AI and other novel technology solutions to promote E-commerce businesses. Novomind is a tech company leveraging intelligent software to promote e-commerce brands in the luxury sector. “Our e-commerce software is designed to enable the display of such details that make the aesthetic difference, such as large product images, 3-D videos, detailed product information, and content links for storytelling. Visitors immediately notice if a website is of high quality, and thus get an entirely different feeling when browsing through it compared to an average e-commerce store,” Sylvia Tantzen, CMO of Novomind AG, explained.

AI can take insane amounts of data and turn it into bite-sized, digestible, easy to understand relevant information. It can successfully streamline strenuous processes and solve complex problems. 

With the help of AI, E-commerce fashion retail processes can be automated. Things like chatbots, churn predictions, product recommendation, better understanding customer preference, offering personalized solutions, enabling virtual product trials and manufacturing customer-centric products and a host of others are all possible now because of AI. 

FinTech: creating bigger opportunities for lifestyle brands

There is without a doubt an upward trend in the use of mobile smartphones to shop for luxury items. According to Mckinsey, at least 95% of consumers of luxury are equipped with mobile phones. Moreover, in some countries as much as 100%. Thus, marketers understand that if they will dominate the market there has to be a way to ride on technology’s influence. 

Innovators like Globalytics Tech Research have seen this opportunity and have provided online shoppers with the opportunity to pay for items through financial technology and AI. GTR is a fintech company that connects its clients with global service providers using its STAR technology. The company sells its services on a subscription model (SaaS) and invests the pool of the profit into new opportunities, which is then distributed back to clients. 

How tech will change beauty and lifestyle for good

I am amazed when I see luxury brands transitioning into modernity both in style and in business. Another tech company leveraging decentralized technology is Uberstate. This tech brand provides more than a wealth management system. Uberstate uses its mobile app to provide users services like wealth calculators and smart wallets for their funds which they can spend anywhere which enables users to monitor and control their digital assets and cryptocurrencies within the decentralized market.

So, it is only a matter of time before traditional luxury brands will have to embrace the tech world and stop seeing tech innovations, most especially E-commerce as a major threat to their brand story and the production of contraband products. 

If they remain in the market and maintain their brand authority, the only choice they have right now is to integrate online selling, AI features, and digitized payments into their strategy to keep up with the increasing demands of the market.

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What happened

Many stocks with tight connections to the cryptocurrency market fell hard in April 2021. North American Bitcoin (CRYPTO:BTC) miners Riot Blockchain (NASDAQ:RIOT) and Marathon Digital Holdings (NASDAQ:MARA) ended the month 21.5% and 23.4% lower, respectively, according to data from S&P Global Market Intelligence. China-based Bitcoin mining hardware maker Canaan (NASDAQ:CAN) posted a 39.5% plunge. You might think that the underlying Bitcoin asset would be falling just as hard, but the leading cryptocurrency’s prices drifted just 1.5% lower in April.

So what

First and foremost, the mining stocks tend to amplify whatever is going on with Bitcoin’s prices. The three tickers mentioned above are still beating both the stock market and Bitcoin over the past six months, led by a whopping 1,220% return on Marathon’s shares:

MARA Chart

MARA data by YCharts

It was largely business as usual, apart from the changing Bitcoin pricing trend. Canaan announced a new line of facial recognition chips and signed a few more hardware installation deals. Marathon picked a new CEO and installed 13,000 more mining machines. Riot ordered 42,000 miners and acquired a Bitcoin-miner hosting facility owner in a $650 million deal.

A businessman holds a needle next to a golden balloon with a Bitcoin design.

Image source: Getty Images.

Now what

The companies are not simple Bitcoin funds. All of them run active operations, either mining more Bitcoin tokens day by day or selling the hyperspecialized machines you find on those mining farms. When Bitcoin prices are rising sharply, as they did from October 2020 to March 2021, the miners generate fantastic returns on their hardware investments. And when the cryptocurrency market calms down a bit, the mining specialists plan ahead for the next boom and continue to install more hardware.

It’s a capital-intensive business, and a risky one. Bitcoin crashes like the one you saw in 2017-2018 can strip the mining companies of working capital while the fixed costs of running the power-hungry mining farms are racking up. It’s no surprise to see market makers driving stocks like Canaan, Riot, and Marathon lower when the skyrocketing Bitcoin chart flattens out.

It’s a sobering reminder of the industry’s very real operating risks. Even Marathon wouldn’t recommend betting the farm on its volatile stock. The company’s “About Us” page recommends spreading out your Bitcoin exposure across miners, Bitcoin funds, and the cryptocurrency itself.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.

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