Mike Tyson’s New Startup ‘Fight to Fame’ Will Mix Up Entertainment with The Blockchain

Mike Tyson, the famous American boxer star, has recently decided to create a new startup. The platform is set to be an entertainment platform for fighters that will be called Fight to Fame.

This new platform is set to use the blockchain technology to create the conditions that will help aspiring fighters to reach success.

According to Tyson, the platform, which will have Farzam Kamalabadi as CEO, will fulfill one of his goals, which was to be a mentor for new generations of boxers. He affirmed that he’s interested in helping them to find success and real compensation in their careers, so this platform will be his pet project.

Kamalabadi affirmed that the blockchain will be important because it will enable the participants to solve problems that were simply impossible to solve before. This way, fighters can use fan tokens to get money other than the fees that they normally get in the industry.

In this model, the fans can also gain money if the value of the tokens goes up, which can help the fighters and the communities of fans which are created around them.

The new platform is set to be “fully immersive” and use the blockchain to provide a completely new experience. It was also affirmed that the project can be important for the blockchain industry as well. Tyson is a very famous figure, so his endorsement of projects like this one will certainly be important for them to be successful in the future and can drive adoption up.

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Author: Hank Klinger

Tim Draper Reaffirms Bitcoin’s Value Will See $250,000 BTC/USD By Early 2023

Renowned American Venture Capitalist, Tim Draper has reiterated his claim that Bitcoin’s price will hit $250k by 2023.

The billionaire investor and founder of Draper Associates was on Yahoo Finance to announce the launch of Grit BXNG and spoke about Bitcoin price in the near future.

While at Yahoo Finance, Draper announced that he was investing in a boxing gym known as Grit BXNG and claimed that it will be the first-ever gym to accept bitcoin. He also highlighted that the company would be able to avoid the payment processing fees associated with processing credit card payments.

During the interview Draper extended the timeline of his Bitcoin call a bit to 2023. The billionaire investor drummed up support for his prediction saying that Bitcoin price will hit $250,000 by 2023. He however intimated that due to the current trends in the market, there might be a slight delay to the king coin’s price tag becoming a reality.

According to the bigtime Bitcoin bull, Bitcoin has consolidated a lot more than he initially expected.

He said:

“I thought there would be many more competitors at this point that were really relevant, but people have consolidated towards Bitcoin because it’s decentralized.”

Tim has been keeping up with the market trends, and he has invested millions in bitcoins in the past. If the cryptocurrency decides to appreciate and meet his price target, then Grit BXNG’s move of accepting bitcoin as a payment option will prove out to be another brilliant move.

If Draper’s prediction does not come to fruition, the mogul has not said what he will do. It remains to be seen whether he will announce a radical decision like John McAfee who has said that if Bitcoin fails to hit $1 million by 2020 he will eat his own penis.

Do you think Bitcoin will hit $250k by 2023? Share your thoughts with us in the comments section.

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Author: Joseph Kibe

American Express’s Mention of XRP Causes A Ripple Boom and Misplaced FOMO

American Express’s Mention Of XRP Causes A Ripple Boom And Misplaced FOMO
  • An old blog from American Express recently popped up on Twitter, which mentioned Ripple.
  • Subsequently, the price of XRP rose, which may be a sign of FOMO.

Ripple is already a platform with a substantial following, but today’s progress is much different. American Express is one of the most well-known and elite credit card companies in the world, and it seems that cryptocurrency investors took some words from an old blog to heart. The blog, which is not an official announcement and was published a while ago, mentioned that Ripple is capable of performing international settlements. Both Ripple and XRP were discussed, and the blog was called “Cross-Border Payments to Become Faster, More Transparent, and Easier to Manage.”

As a result, FOMO is running rampant on Twitter, while Ripple is seeing some upward momentum. The price surge that XRP experienced is also showing at the same time, which seems to be independent of other tokens in the market. However, the hype may simply be misplaced, due to this blog. Even with downward pressure, XRP is trading up at $0.398306, seeing an increase of almost 5%. The price surge happened this morning, as XRP went from $0.38 to $0.41 quickly, and other market moves appeared to be completely independent.

Even though there is no confirmation that these two matters are related, the timing and the independent movement are indications that the blog is likely the cause. A popular XRP proponent on Twitter, Michael B, stated that the old blog has since gained a lot of retweets and likes.

Even with the FOMO that is clearly coming up around this token, it is important to note that American Express is not actually endorsing Ripple and it should not be considered to be an official announcement. So far, in fact, there has not been a single endorsement or announcement involving any Ripple products, in association with American Express.

In an effort to bring attention to the fact that that this blog is, in fact, from September last year, another user commented on the post as well.

American Express is a member of Ripple’s initiative RippleNet, which offers services between businesses for real-time global payments. Even without any confirmation of the connection between these two actions, it is still enough for Ripple to see a nice little uptick today. Time will tell if this success will continue.

All of Today’s Ripple (XRP) Price Analysis, Chart Forecasts and Industry News

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Author: Krystle M

Tim Draper: Facebook’s Entry Into the Crypto Industry Will Enhance Mainstream Adoption

Tim Draper: Facebook’s Entry Into the Crypto Industry Will Enhance Mainstream Adoption

Renowned American venture capitalist, Tim Draper, who has been steadfast in advocating for the adoption of cryptocurrencies as a viable investment alternatives, is now praising the entry of Facebook’s Libra into the market.

In an interview, Draper gave an insight of some of the developments in the crypto space. During the interview, the popular crypto investor welcomed Facebook’s entry into crypto space saying that it is a positive step towards endorsement of the cryptos.

He however, said that there are few aspects that the Libra Association needs to improve in its infrastructure. Draper explained that currently Bitcoin still remains in the pole position in the ecosystem due to its strong infrastructure. He said:

“They’re (Facebook) way late into the game. Eventually, they’ll fall into the same place as all the other cryptocurrencies where they say Bitcoin’s better!”

Draper said that Facebook’s Libra crypto is bound to revolutionize the industry if the few concerns in regards to the infrastructure are addressed. The popular venture capitalist said that the popularity of Facebook and its affiliates around the world will no doubt help in popularizing the new kid in the market.

During the interview, Draper said that Bitcoin was like buying virtual swords in a gaming version but in reality it holds value. He explained that people must be willing to take risks when it comes to investing in virtual currencies.

Draper supported his crypto investment in the last couple of years that have exhibited his belief in the ecosystem. He reminded his audience about his accurate forecast that Bitcoin would hit the $10,000 mark in terms of trading value which he made three years ago.

Enact Blockchain and Crypto Friendly Regulations

Draper noted that although the majority of political leaders may view the adoption of Bitcoin in mainstream as a positive progress in society, he claimed that some bureaucrats view it as a major threat to their existence. He explained:

“Governments can also benefit from the technology for keeping perfect records and collecting taxes. Also, people get wealthier if there’s less friction to trading.”

He explained that mass adoption of blockchain technology in government processes and procedures will enhance service delivery to the public. It will also help to cut the costs of running the government and that’s why government bureaucrats are wary of the technology as they risk being redundant.

Draper called on the US government to come up with friendly regulations to govern the technology. He explained that too many regulations will impede the development of blockchain technology and even drive the innovation away to countries that are blockchain and crypto friendly like Japan and Malta.

Draper also said that even though big sharks like Warren Buffet might be disinterested in investing in cryptos or outside the fiat markets, majority of the young individuals that are in debt of the fiat currency see cryptos as the alternative towards achievement of financial stability.

Will Facebook’s Libra be a game changer in the crypto industry? Share with us in the comments section below.

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Author: Joseph Kibe

Binance Launches New Binance US Division To Operate In The North American Country

Binance-Launches-New-U-S-Division-To-Operate-In-The-North-American-Country

Binance Launches New U.S. Division To Operate In The North American Country

  • Binance launches new U.S. division to operate in the country
  • The goal is to start offering services to individuals in the United States

Binance, the most popular cryptocurrency exchange in the market, is working on its Binance U.S. division to launch its exchange in the country. The firm is working with regulatory agencies in the country so as to target only US customers.

Binance Launches New U.S. Division

Binance is moving forward and expanding in the market. Due to different regulatory issues, U.S. traders have difficulties to use the Binance platform and other services such as the Launchpad. This is clearly not good for Binance that has reached a large number of individuals around the world.

According to CoinDesk, Binance is working with a firm called BAM Trading Services. The new platform is expected to be entirely operated by BAM and Binance will be offering the wallet and matching engine technologies.

This will be the formal entry of the cryptocurrency exchange to the U.S. market. Nonetheless, users in the country were able to access to this trading platform but with some restrictions, as mentioned before. The CEO of the company, which is also the founder, Changpeng Zhao, said that they are excited to launch Binance US and improve their speed and liquidity.

At the moment, there is no further information regarding BAM Trading Services, about what it does or how it operates. The registration document with the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) noted that the regulatory agency does not verify information submitted by the MSB. The firm is now only available to operate in California.

At the time of writing this article, Binance is the largest cryptocurrency platform in terms of trading volume. In the last 24 hours, Binance handled $1.82 billion in trading volume.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Carl T

Huawei Could Open Blockchain Operations In The Latin American Market

Huawei-Could-Launch-Blockchain-Services-In-The-Latin-American-Market

Huawei Could Launch Blockchain Services In The Latin American Market

  • Huawei is studying the South American market to release blockchain-related products
  • Although there is nothing confirmed, the company is in talks with the Brazilian government

The Chinese giant Huawei is currently analyzing the possibility of expanding in the Latin American market through blockchain services. The information was released by Cointelegraph Brazil on June 13. The report says that a Huawei executive informed that blockchain-related products will be available on the continent.

Huawei Wants To Expand In Latin America

Although there is nothing confirmed, they showed that they are working so as to deploy blockchain-related services in the future. The firm is now focused on other areas such as 5G, storage and telecommunications.

About it, a Huawei executive said at the CIAB Febraban conference on June 11:

“Everything will depend on the outcome of our market analysis and in case there is a market demand for blockchain we will make our services available in this area. Today we are focused on storage, 5G and telecommunications.”

The firm explained that they have been working with the Brazilian government for storage solutions and to deploy the necessary 5G infrastructure in the country. Back in April 2018, the company launched its blockchain-as-a-service offering through its cloud platform. As per some reports, this service allows interested parties to create and manage blockchain apps at low cost.

The executive has also talked about the US-China trade war and how it could affect the company. He said that he is confident that it will be solved and it will not affect users around the world. Additionally, he commented that one of the issues that must be solved is related to Google’s Android software licensing.

It is worth mentioning that CIP, a facilitator of financial infrastructure or banking issues in Brazil, launched a blockchain ID platform working with IBM and using the Hyperledger Fabric. The blockchain market is expanding around the world and South America is clearly a hub for innovation.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Carl T

Expert Believes Petro Cryptocurrency Is Helping Venezuelan People Bypass Sanctions

Expert Believes Petro Cryptocurrency Is Helping Venezuelan People Bypass Sanctions
  • Cryptocurrency adoption is steadily increasing in Venezuela.
  • The South American nation’s citizens have suffering from one of the worst economic crises in history with the Bolivar becoming practically worthless.

Venezuelan Petro Moves Towards A New Phase

The Petro is now accepted in many shops in the country, according to Ricardo Baptista, the director of the Latin American Cryptoeconomy Corporation, the Venezuelan government wants to help the economy by promoting the use of virtual currencies, including the government-backed Petro.

The goal is to solve the many problems that the current Venezuelan economy is experiencing.

Using Virtual Currencies In Order to Circumvent International Sanctions

Mr. Baptista explained that the government of Venezuela is currently promoting the use of virtual currencies in order to improve its economy. The main goal is to avoid the negative effects of a massive blockade on the Venezuelan economy. Using virtual currencies, the country is able to evade these sanctions.

He has also mentioned that virtual currencies are now being used by the Venezuelan population and are starting to think in a different way the financial culture they have.

On the matter, he commented:

“Our currency, the bolivar, has been hit hard and what we are looking for is that financial technology is that the bolivar has a value, not on paper, but as a digital asset.”

During a conversation with the radio show “A tiempo,” which is broadcasted by Unión Radio, he said that cryptocurrency adoption was growing in the country due to the proliferation of different businesses and content distribution companies. Indeed, digital assets are currently being used for online payments, purchases and more.

The country is experiencing a very hard crisis in which individuals are not able to have access to basic goods and other services. Cryptocurrencies could have a positive effect on the economy and the population that is living in a very difficult situation.

The government has decided to create a digital currency called The Petro that tried to diminish the effects of these sanctions on the population. Although it has not been used for a long period of time and many experts believe that it was never going to be used by people in the country, it seems that there are some individuals already using it.

As reported by José Antonio Lanz, a Venezuelan crypto journalist, there are some businesses that have implemented the currency and it can be traded in six local exchanges. At the moment it is not possible to provide a positive future for the digital currency since the United States has imposed strict sanctions against those who deal with the virtual currency.

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Author: Carl T

New Bitcoin Creation Theory Suggests Sci-Fi Writer Neal Stephenson is Satoshi Nakamoto

New Bitcoin Creation Theory Suggests Sci-Fi Writer Neal Stephenson is Satoshi Nakamoto

A new theory published online suggests that American science fiction writer Neal Stephenson is Satoshi Nakamoto.

In a blog post published earlier today, Peter Suderman at Reason.com writes:

“I am not saying that Neal Stephenson is Satoshi Nakamoto. What I am saying is: Would it really be surprising if he were?”

Stephenson, for those out of the loop, is a 59-year old American writer whose work has been categorized as science fiction, cyberpunk, historical fiction, and baroque. Across numerous novels, short stories, and essays, Stephenson has explored topics like math, cryptography, linguistics, currency, philosophy, and the history of science.

His best-known works from a 35-year writing career include Snow Crash, Cryptonomicon, and Seveneves. More recently, Stephenson has worked for Blue Origin, the private space company founded by Jeff Bezos. The inventors of the internet and the iPad, meanwhile, have both publicly claimed Stephenson as a muse.

Suderman sums up Stephenson better than I could by stating,

“He is the sort of writer whose novels include descriptions of vast nanotech defense systems, as well as of incredibly elaborate methods for eating Cap’n Crunch, complete with a special spoon. He keeps his head shaved and wears a gray-streaked goatee, a look that is part heavy metal wizard, part monk.”

That’s all great – but is there actually a chance that Stephenson is Satoshi Nakamoto? Or is this just an absurd fantasy?

Why Neal Stephenson Could Be Satoshi Nakamoto

Suderman proposes a number of reasons why Neal Stephenson could be Satoshi Nakamoto, including:

Satoshi Nakamoto and Neal Stephenson Are Interested in Similar Topics

Up above, we mentioned that Stephenson’s novels focus on several topics close to the crypto community, including math, cryptography, and currency. His work has also focused on the social and technological infrastructure of a post-government world, Asian culture, and other topics.

As Suderman explains, Stephenson’s work has also been heavily influenced by cypherpunks – just like Satoshi Nakamoto:

“His early work was heavily influenced by the cypherpunks, a coalition of hacker-technologists obsessed with cryptography, distributed information platforms, and science fiction (the title Cryptonomicon was inspired partly by the Cyphernomicon, a cypherpunk FAQ).”

You might think – big deal. Lots of people were interested in cypherpunk ideals. Satoshi was part of a global community of cypherpunks. However, certain elements of Stephenson’s stories have focused on topics surprisingly similar to bitcoin – long before bitcoin was invented.

Stephenson Describes an Anonymous Peer-to-Peer Communication System 13 Years Before Bitcoin

In his novel, The Diamond Age: Or, a Young Lady’s Illustrated Primer, Stephenson describes a worldwide “media net”, which is a type of anonymous peer-to-peer communication system that allows people to transfer money. Because of this media net, nation states have collapsed because financial transactions can no longer be monitored by governments. Tax collection is impossible.

Four years after that, Stephenson published Cryptonomicon, a novel tracing the World War II origins of cryptography and the efforts of a group of 90s-era hackers to setup a system of anonymous banking and digital currency outside the reach of traditional governments.

Stephenson followed up this work with a trio of novels called The Baroque Cycle that explains the historical foundations of math, money, and modern philosophy.

Clearly, Stephenson was thinking about the possibility of a system like bitcoin, including how it would work, what kinds of impacts it would have on the world, and how people would use it.

Of course, none of this means that Stephenson had any connection to bitcoin: during the early days of the internet, lots of people were theorizing about what this new tool could do and how it could work. So what other clues do we have that Neal Stephenson is Satoshi Nakamoto?

Neal Stephenson’s Initials (NS) Are a Reverse of Satoshi Nakamoto’s Initials (SN)

Neal Stephenson isn’t a pen name: it’s the guy’s real, legal name. He was born Neal Town Stephenson. Although he has written books under the name Stephen Bury and J. Frederick George, most of his work is published under the name Neal Stephenson.

The initials ‘NS’ are a reverse of Satoshi Nakamoto’s ‘SN’ initials.

Stephenson’s Latest Work Discusses the Best Way to Distribute an Enormous Amount of Wealth

Satoshi Nakamoto is one of the wealthiest people on the planet. Satoshi likely has a stash of anywhere from 1 million to 1.3 million BTC, making him a billionaire several times over.

Stephenson’s latest two novels, meanwhile, are focused on the idea of a video game developer rising to enormous wealth and then figuring out how to distribute that wealth.

Reamde, for example, was published in 2011 just a few years after the release of the bitcoin whitepaper. The novel discusses a draft-dodging marijuana Sherpa who founded a video game company based on the idea of converting in-game gold to real-world currency. The novel discusses the challenges of moving money across national and virtual boundaries. The protagonist lives in the Pacific Northwest – just like Stephenson. By the end of the novel, the protagonist has become very rich – worth hundreds of millions of dollars.

A follow-up novel called Fall follows the same protagonist at a later age. Fabulously wealthy, the protagonist is exploring ideas on how to cement his legacy, including the legal and organizational structure of foundations and how best to distribute his wealth.

Stephenson wrote this latest novel in late 2017, which is when bitcoin reached its all-time high. At this time, Nakamoto’s stash would have been worth somewhere between $20 and $30 billion. If Stephenson is Satoshi, he would have been dealing with the concept of suddenly becoming extraordinarily wealthy.

Other Stephenson Novels Hint at Bitcoin-Like Concepts

Suderman has thousands of additional words exploring the connection between Stephenson and Satoshi in various novels. Other connections between the two include:

  • In Stephenson’s 1992 novel Snow Crash, he imagined an online world or ‘Metaverse’ as a virtual gathering place where individuals could adopt new identities. The Metaverse provided a safe space for invention and reinvention. It also allowed criminals, entrepreneurs, and scammers to thrive. In other words, it sounds a lot like the internet we know today. The novel focuses specifically on the idea of internet anonymity, more than other sci-fi writers writing about the internet during this time period.
  • Multiple Stephenson works explore the idea of an elite tech-oriented class becoming more and more superior to lower classes. In Fall, Stephenson discusses how the rich elite can afford to pay people to have customized news feeds delivered in front of them, for example. In The Diamond Age, Stephenson explores the problem of fake news and trolling. The separation between rich and poor inexorably spreads with the invention of the internet.
  • Through all of these novels, Stephenson, as explained by Suderman, “maintains a keen sense not only the ways that technology might evolve but the cultural shifts it might entail, from news and social media to leadership and social structures in a virtual afterlife where people have limited senses of the self.

Final Word: Could Neal Stephenson Be Satoshi Nakamoto?

Neal Stephenson could certainly be Satoshi Nakamoto.

Of course, the homeless guy you walk past every day on the way to work could be Satoshi Nakamoto. Oprah Winfrey could be Satoshi Nakamoto. The crazy thing about Satoshi is that, even a decade after he publicly appeared online, we still have no concrete evidence connecting Satoshi with anybody.

It is clear, however, that American sci-fi writer Neal Stephenson discussed concepts closely connected to the world of bitcoin in numerous novels. Peter Suderman at Reason.com has an excellent writeup exploring all the connections between Neal Stephenson and Satoshi Nakamoto here.

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Author: Andrew T

Tim Draper Expresses Uneasiness for Ethereum’s Issuance Rate but Impressed by Smart Contracts

Tim Draper Expresses Uneasiness for Ethereum’s Issuance Rate but Impressed by Smart Contracts

During a recent interview with Ethereum Classic Labs, American Venture Capital Investor, Timothy Cook Draper expressed his uneasiness with Ethereum, while also praising the blockchain reports CCN.

What troubles the investor who is popularly known for his $250,000 prediction for the crypto giant, Bitcoin [BTC], is Ethereum’s issuance rate of two to four percent yearly.

In particular, he feels like everything is in Founder, Vitalik Buterin’s hand, stressing that he seems to have all the decision-making power. Here’s as per his quote:

“[Buterin] can just arbitrarily say, ‘hey, we’re just going to print 10% of this sh*t […]’ He may not but whoever follows him might. That’s the part I don’t like […] The whole point is to be decentralized.”

These comments come from the fact that Ethereum is moving from Proof-of-Work to Proof-of-Stake, ultimately leading to a reduced token issuance rate.

All this being said, Draper has always been a big supporter of smart contracts, which Ethereum is more or less known for. While he is aware of its likes on Bitcoin’s blockchain, he stressed the fact that it couldn’t have been possible if it weren’t for Ethereum, who initially paved the path.

Draper is expecting blockchain technology’s impact to expand over time. Industries such as banking and finance have already witnessed the efficiency that arises from the integration of blockchain technology. However, the investor wants to see more, mentioning the likes of the real estate, health and insurance sectors’ use of blockchain.

Towards the end of the interview, Draper shared his viewpoint on Bitcoin, where he proposed the best time for making investments. He believes that any time beats not investing at all. More specifically:

“People say, ‘Oh I wish I’d gotten in before.’ I think that’s wrong-headed. They’re going to look back as say either I did, or I could have gotten in on that ground floor when it was $8K.”

Draper also noted that before Bitcoin can reach new heights, investors can expect to see its value fluctuate or even drop, as the rise in Bitcoin puts banks in danger – hence investors should predict some manipulation from the latter’s end.

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Author: Nirmala Velupillai