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Ciudadela Universitaria de Occidente in Colombia will train professionals in Blockchain

The Superior Agency of Medellín (Sapiencia) in Colombia announced the project “Ciudadela Universitaria de Occidente” which is expected to start training professionals with educational programs in disruptive technologies such as Blockchain by mid-September, according to published this Wednesday the newspaper El Tiempo.

After so many setbacks and after a year and a half of execution, and with an investment of 126,000 million pesos, among the last three municipal administrations, the place where the El Buen Pastor women’s prison was erected, Now there is an educational complex that will promote the development of applications with blockchain in Medellín.

This new institution for higher education in the city contemplates adapting conventional and multipurpose classrooms to accommodate 8,000 young students, who will have the opportunity to have access to higher education in the technological, technical, and work and human development modalities, areas related to the fourth industrial revolution, of which Medellín is considered the capital of Latin America.


The Citadel of the West, has 18 conventional classrooms, 16 multipurpose, a computer center, auditorium, gym, infirmary, cafeteria, sports areas, internal cycle path, administrative rooms, parking lots, and study and outreach areas, In addition to the university campus, it is located next to the San Javier Library Park, the Samuel Barrientos Educational Institution and 400 meters from the metro station.

These are 15 buildings that will communicate with each other, which are founded between communes 12 and 13, and whose campus is emerging as a city space that, in addition to educational facilities, It will have open areas for the enjoyment of the community.

“They are 37,000 square meters, of which 12,000 are inside the university citadel, but they are for public access and enjoyment of the community, and about 25,000 square meters that if constituted as public space,” explained the Assistant Manager of Design and Innovation. from the Urban Development Company (EDU) Nicolás Rivillas.

Mayor Daniel Quintero assured that the project is 94% complete, “We still need to equip it with the technology we need so that students can become champions of the fourth industrial revolution”.

To the beat of the 21st century

In addition, he specified the focus of the educational programs that will be offered there: “8,000 students each year will be training in careers related to big data programming, data analytics, blockchain, artificial intelligence and the Internet of Things. It is a fundamental project for the strategy of Medellín Valle del Software“Said the mayor of the city.

The university campus will have the possibility of having the academic programs of the best public universities in the city, among them Pascual Bravo, the Metropolitan Technological Institute of Medellín (ITM) and the Colegio Mayor de Antioquía, who in an alliance with companies such as Platzi, Google, Microsoft, Coursera, LinkedIn, in addition to Sena, among others, will assume responsibility for the construction of the contents and the courses issued by said study house.

The teaching study model that will be taught on campus will have a novel educational offer, geared towards job relevance, focused on creating people with skills for the fourth Industrial Revolution, which means that the Ciudadela Universitaria de Occidente will not be a conventional educational institution, but rather a space for convergence of higher education institutions whose programs are mainly associated with the strategic line of the Software Valley.

“In the Citadel of the West there will be spaces for certain areas that respond to the relevance with respect to the demands that exist in the context. We have four specialized spaces that are developed in administration, graphics, digital administration laboratories and a 4.0 center of excellence within the framework of the fourth industrial revolution. This project is articulated with the Ciudadela Universitaria @ Medellín, a platform that will carry academic programs under the virtual modality ”, specified Juan Pablo Arboleda, rector of the Pascual Bravo University Institution.

Likewise, the director of the Higher Education Agency of Medellín –Sapicience- Carlos Chaparro, when asked how the access to the educational offer of the citadel will work, explained that: “The citadel would be like an airport where different companies would come to offer related services, including institutions that are not universities but are strong in the area of ​​software, including international institutions”, said. So Ruta N could participate in the project under a shared administration model, also announced that in September, the educational proposal would start with 1,000 or 2,000 young people who are going to train and go out to work in this entity for 10 to 12 months. “The citadel would be a generator of employment,” he concluded.

Medellín: Technological Innovation.

Blockchain technology, is a tool strongly associated with Cryptocurrencies, had its origin as the technology behind such digital assets. However, due to its characteristics, this platform is applicable to other areas and sectors, so it has gradually been introduced in the educational sector. Thanks to its friendly, reliable and efficient technology, today more institutions have agreed to join in the use of this technology.

The Medellín Higher Education Agency –Sapiencia- not only promotes the mega project of the City, “The University Citadels ”If not, together with the Mayor’s Office of Medellín and the Secretaries of Economic Development, they promote a program “In formation of Specialized Talent” in Industrial Blockchain technology, which seeks to train professionals for Industry 4.0.

Simultaneously with these programs, other projects are being implemented in the town, which foresee that by 2023, Medellín faces the challenge of integrating into Industry 4.0, positioning itself as a technological reference in development, technological, financial and educational.

The city of Medellín, se has become a point of reference as a study center for robotics, virtual reality, disruptive technologies, blockchain technology, internet of things, as central elements in the deployment of the fourth Industrial Revolution.

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Bitcoin advantages for local and international operations

Key facts:
  • Bitcoin is sold at the free market dollar price, not the official price.

  • There is no need to ask for authorizations to send or receive bitcoins.

When you need to receive international payments in Argentina, doing it in Bitcoin (BTC) is one of the most effective options. This is because they can be exchanged for pesos at the real market price.

On the other hand, when using services such as Paypal to later transfer the money to a bank account, a large part is lost due to commissions since the law requires the use of the official dollar rate, which does not benefit the user.

This was explained by Franco Amati, co-founder of the NGO Bitcoin Argentina, when asked about the matter by Eduardo Gómez, Head of Support at, who moderated the panel Cryptocurrencies for payments, collections and remittances. This meeting was held on July 30 within the virtual conference Decentralize 2020.

For almost an hour, protagonists of the Latin American “crypto industry” spoke under the slogan “The advantages of the cryptoeconomy for local and international operations”.

There also gave his opinion Fabiano Dias, manager for Latin America of the Bitwage company. He stressed that with Bitcoin it is not necessary to convert the entire value to pesos. “Unlike other methods, you can convert according to your need,” he said.

Regarding this, Matías Goldenhörn, director of Athena Bitcoin and participant in the panel, pointed out how easy it is currently to exchange cryptocurrencies for fiat money. He gave as an example the ATMs of the company he represents and announced that, from now on, one of them, installed in a supermarket in Buenos Aires, It also allows you to deposit and withdraw dollars.

For almost an hour, protagonists of the Latin American cryptocurrency industry discussed under the slogan “The advantages of the cryptoeconomy for local and international operations”. Source:

“There are countries where you can live with cryptocurrencies”

Mauro Peretti, Bitrefill’s head of marketing, added his voice to the dialogue and indicated that “there are countries where you can live with cryptocurrencies.” He named India as an example, a country in which, thanks to the possibility that his company offers to acquire gift cards in exchange for cryptocurrencies, he can even pay rent for a home.

“In Latin America this is a little slower because gift cards are not widely accepted,” he said, although he mentioned exceptions such as Brazil and Colombia where Bitrefill offers a wide variety of possibilities.
On Argentina, where the services of this company are reduced, he explained that the exchange clamp hurts the operation but that, in any case, they will look for options so that people can use their cryptocurrencies anonymously in a greater number of businesses.

Person-to-person transactions grow

Regarding anonymity, the panel moderator mentioned during the conversation that, to buy and sell Bitcoin and cryptocurrencies, many prefer to expose themselves to the risks of a person-to-person transaction rather than give their data to a trading platform.

Amati agreed with him and added: “Not only are they afraid of money exchange offices, but in Argentina sometimes They are afraid of the tax agency and the government. “

CriptoNoticias published an article detailing the great growth that p2p exchange platforms had so far in 2020. These platforms do not have KYC (“know your customer”) policies and allow them to operate without provide personal data.

Trader strategies

On the adoption of Bitcoin and other cryptocurrencies by merchants, Juan Pablo Cánepa, from the company CriptoPosta, who provides consulting on Blockchain and Tangle in the Patagonian region in southern Argentina, recounted his experience.

“We make a combo for customers. Not only do we go and explain how it works, but we also give them graphic pieces to make it visible that they are accepting cryptocurrencies: printed addresses, a ‘tracing’ in the window and we add them to our website, ”Cánepa explained in the panel.

Are more regulations necessary?

Half an hour after the panel started, an exchange of ideas took place between Gómez and Amati. The moderator assured that more regulations are necessary since he considers that it is difficult to pay taxes and justify income before the law if a client who is abroad is charged with cryptocurrencies.

“By law, that payment is supposed to be pesified and [en Argentina] there is no legal framework for payments in cryptocurrencies, ”lamented Gómez.

Amati refuted his claim. “Actually, that is debatable,” he said, to clarify later that those who provide services, unlike those who sell goods, are not obliged to settle foreign currency or enter the Single Market Free of Exchange. He admitted not being a specialist on the subject and added that, surely, in another of the talks at the conference devoted to legal matters, the matter will be discussed in more detail.

At Gomez’s insistence with asking for solutions from state agencies, Amati again stated his position: “It is not necessary, there is a solution! A good accountant can handle it. ” He assured that “everything is allowed as long as it is not prohibited, and this is not strictly prohibited ”.

For Eduardo Gómez, panel moderator, the main benefit of cryptocurrencies for remittances and payments is that you do not have to ask anyone for permits or there are no restrictions on the amounts. Source: screenshot.

Then, by way of closing the section on regulations and leaving behind the differences with his interlocutor, Gómez pointed out what he considers the greatest advantage of using cryptocurrencies:

Cryptocurrencies in Argentina are a great collection and payment mechanism because it is practically instantaneous. You don’t have to ask anyone’s permission, you don’t have to go to the bank and say ‘Hey, I want to send a transfer abroad’ or ‘Hey, I’m going to receive a transfer, please don’t block my account’. The main benefit of cryptocurrencies here, in Argentina, for the issue of remittances and payments is that you don’t have to ask anyone for permits and you can make your transfers without restrictions on the amounts. ”
Eduardo Gomez

Other panels

In addition to the panel presented here, an introduction to Bitcoin was made by the president of the NGO Bitcoin Argentina, Rodolfo Andragnes; a money history class by Alfredo Roisenzvit, CEO of RiskBusiness LA; and a debate by economists on Bitcoin and traditional economic models in which Diana Mondino, Agustín Etchebarne and Iván Carrino participated, moderated by Gonzalo Blousson.

On Friday, July 31, the second and last day of the conference, there will be, from 15:00 (Argentine time, UTC –3), 13 activities, among which are the panels on legal and accounting aspects in Argentina; stablecoins; decentralized finance; and the future of post-COVID money19.

The triple objective of Decentralizing 2020 is, in the words of Catalina Castro, host of the YouTube channel “Tech with Catalina” and presenter of the conference: spread the characteristics of decentralization, explain how to achieve it and decrease ignorance about cryptocurrencies.

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Blockchain Summit Global 2020 will be held on September 3-4

Since 2018, Blockchain Summit UY has been held in Montevideo, Uruguay, with a great call. This year, due to the context of the pandemic, the event will be held in a hybrid format-virtual and face-to-face, and will be called “Blockchain Summit Global 2020: Technologies & Crypto”. It will take place on September 3-4. This was reported by Ignacio Varese, one of the organizers, to Cointelegraph in Spanish.

“Since 2018, we have held the Blockchain Summit event in Montevideo every September with a great call and very prominent speakers. The 3rd Edition has touched us in times of pandemic, and it has made us redouble our creativity, our passion and our enthusiasm, ”Varese explained.

Then he added: “In addition to many new features, there has been a fantastic evolution. Our event has become a mainly virtual format, also adding a face-to-face modality that will be out of series and will include an updated health protocol

On the other hand, he remarked: “We are also showing a rebranding that is part of our evolution. Blockchain Summit UY is now BLOCKCHAIN ​​SUMMIT GLOBAL. With great ambition and vocation, the 3rd Edition 2020 will be a global event ”.

Thus, on Thursday, September 3 and Friday, September 4, 2020, for the third year in a row, this event will be held. This time, from a TV studio (Studio 9), they will be presenting a remarkable agenda with world-class speakers who will provide conferences, workshops and panels.

Blockchain will be the great theme and will function as a trigger, also adding the technologies that partners are generating current use cases, innovation and evolution, on a direct path to Revolution 4.0Varese stated.

During the event, topics such as DeFi, fintech, cybersecurity, stablecoins and legal support of blockchain initiatives will be discussed. We will have the main platforms, launch of new versions, active mining projects, and a lot of action in relation to the main cryptocurrencies, their price and opportunities from the perspective of the most prominent traders.“He detailed.

According to the organizers, it will be an opportunity to listen to keynote presentations on developments, innovations, legislation, public policies, real use cases and true success cases.

Organization and conferences

This year we have planned the realization of the event in Study 9, from where we are going to transmit in an agile and professional way to the whole world. Participants will be able to network in virtual meeting rooms, participate in AMA sessions (Ask me Anything) with the main speakers and also coordinate One-to-One interviews ”, specified Varese.

However, he clarified: “Attendance in person will be limited to the capacity of the audience of the TV Studio, and will have the participation of some local speakers as well as special guests, with a catering service included, all within the framework of the current health protocol ”.

Keynote speakers

Listed below are some Keynote Speakers that are slated to participate in the Blockchain Summit Global on September 3-4, 2020:

– Dr. Ian Gauci, from Malta, will speak about Smart Contracts,

– Heather Flannery, CEO of ConsenSys Health, along with David Koepsell, JD, PhD, General Counsel, Chief Ethics & Compliance Officer & Latin America Market of the USA, who will present the Health topic in a “fireside chat” modality.

– Taha Sajid, PMP, PMI-ACP of Riyadh, Saudi Arabia will speak about Cybersecurity

– María Salgado Iturrino, Blockchain Manager at IECISA | gfi Group of Spain, will refer to Blockchain for Business.

– Federico Ast, Ph.D. from Argentina – Entrepreneur in Blockchain & Legaltech, Professor at Coursera, will speak on legal issues.

– Amiti Uttarwar, from the USA -. First Confirmed Female Bitcoin Core Developer. Her presentation will be about Bitcoin and women in the world of technology.

– Alberto G. Toribio, Technology & Innovation Specialist from Spain, will present about DEFI

– Dale Chrystie, from the USA. Blockchain Strategist at FedEx will speak about Supply Chain.

– Elian Huesca, from Decred Latam (México) – Consultant, advocate & speaker of cryptocurrencies, blockchain and Fintech. Chevening Scholar 2016. Will speak about Governance.

– Cecilia Chapiro, from the USA. Investment Adviser & Blockchain Portfolio Manager at UNICEF | She will talk about finances.

– Lana Kalashnyk from USA – Blockchain Partner Technology Lead, PSA – Amazon Web Services (AWS). Will talk about Cloud Computing Services

– Carol García Lago of Spain. Senior Manager | IT Consulting and Innovation | Blockchain Lab – Grant Thornton Spain. It will refer to CBDC topics and Blockchain Application in Payment Systems.

– Marta Piekarska-Geater, UK – Director of Ecosystem, Hyperledger. Use cases with Hyperledger.

About Blockchain Summit 2019

On September 5, 2019, the second edition of Blockchain Summit Uruguay was held in Montevideo. The appointment was at the Uruguay Golf Club, and Cointelegraph in Spanish was present.

With two rooms prepared to offer simultaneous talks and workshops, a sector with company stands, and an ideal climate for networking, the event showed the enormous potential of blockchain technology in the region and the great interest, not only from Uruguay, but also from neighboring countries such as Argentina, Brazil and Chile. Organizers Ignacio Varese and Germán Tugores told Cointelegraph in Spanish that the call exceeded expectations.

Germán Tugores commented on that occasion: “The balance was positive, we are very happy for the call.”

On the other hand, Ignacio Varese was also very happy. “We see that everything happened exceeding expectations. An incredible experience due to the number of speakers. Many and of different headings and platforms. We also had three panels and everything went very well. We estimate that 370 people attended. ”

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“Decentralization does not serve to bypass regulations”

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Buda is a money exchange that was born in Chile, and soon it was already present in four countries, in addition to serving users from many more. Its founder and current CEO, Guillermo Torrealba, takes us on a tour of its culture and the values ​​that govern its priorities. In an atypical episode, we approach an unconventional view in which the idea of ​​a revolution does not evoke violent disruptions, but rather a kind of peaceful coexistence between old and new paradigms.


  • Countries served by Buddha.
  • The case of 2018.
  • “If we don’t meet the state’s demands, the crypto is in jeopardy.”
  • Not because we are a cryptocurrency company we are special.
  • The Buddha’s position regarding internal regulations.
  • The country with the most movements in Buda.
  • The difficulties of the Argentine market.
  • Buddha and the teacher of drawing.
  • Challenges of remote work in the pandemic.
  • Buddha’s plans for the future.
  • Eco initiative.
  • Lightning Network for everyone.

Episode Notes

A preview of what you will find in this episode:

Joseph: It is a pleasure to be talking with you today Guillermo. In this episode we would like us to talk about cryptocurrencies in Chile and how this whole adventure with Buddha has been, and also, to talk about other experiences that you have had in this ecosystem that is always in constant change.

William: Yes. Delighted to share the experience, and hopefully it will serve an entrepreneur who is thinking of doing something in cryptocurrencies to launch or someone who is thinking of buying their first satoshis to do it too. There is a first jump of faith that it is the most difficult, that once one gives it, one realizes that it is not only very real, but also unique and extraordinary. And there is no going back, but the first step is the most difficult. So that if I can help someone in something, well delighted.

Elena: And it is not only Chile. We are talking about Argentina, Colombia, Chile and Peru, according to the Buddha’s own page.

William: So is. Those are the markets that we currently support.

Elena: This means, in concrete terms, that the legal team of Buda is in Argentina, Chile, Colombia and Peru, and not that his clients and his market are there.

William: Quite the contrary. It means that our clients are in Chile, Peru, Colombia, and Argentina. We have lawyers in all countries, because the company is incorporated in all four countries. But the Buda legal team, with which we respond to 90% of our needs, is in Chile. We concentrate as much equipment as possible in Chile. But from Chile we operate to these four countries and we have clients. In fact, more than half of the clients are not even Chilean, they are Colombian. There is our fort.

Elena: Okay. But you are incorporated in Chile and comply with Chilean regulations. That means that the exchange and bitcoins are in Chile.

William: No. Well, more or less. We are not only incorporated in Chile. But also in Colombia, Peru and Argentina. There are four companies, the parent is Chilean, but the company is established in four countries. And regarding where the bitcoins are …

Elena: In a hidden and secret location. In Switzerland under a carpet.

William: Clear. They are where the servers are. And servers can be anywhere in the world. It is an originally Chilean company, but we no longer even consider ourselves a Chilean company, but we consider ourselves a Latin company.

Elena: They better. They had better because we are all jumping from Latin America everywhere. They better.

William: Sure, of course.

Elena: The first question I wanted to ask was if you had any comments on how Buddha handles customer data. Because there was a whole move already a year or two ago about Buda and the Chilean Government and customer data. How are you handling it right now?

William: I don’t know right now what news was that you are referring to. It may have been that two years ago the Chilean internal tax service began demanding that Buda inform him about the buying and selling of its clients. Just as it does with stockbrokers. Basically equal to another company …

Elena: Exactly. When Chile was still learning in its first steps what cryptocurrencies are and how copper is beaten.

William: Clear. And well, the government already wants to get its share, as is always the case.

Elena: Government always being government.

William: Government being government. As it is. Well we are a stock exchange and a cryptocurrency market that has a very good reputation. Very good mainly because we take the privacy and security of our infrastructure and customer data very seriously. There are regulations that we cannot skip, since the internal tax service arrives and demands something of us. Not only is the company in danger if we do not comply with that regulation, because the Internal Revenue Service can take away our license and Buda can no longer sell in Chile, but we’re risking we, our personal skin, because we can go to jail if we do not comply with the regulation. But then even cryptocurrencies are in jeopardy. Because it is that if the state of Chile considers that the most relevant cryptocurrency companies are being subversive and revolting, eventually the country as a state could even take an anti crypto.

And in that sense, in Buddha, while we believe and are in love with the decentralized characteristic of cryptocurrency, we believe that decentralization is an attribute that is more beneficial to create an incorruptible network, than to create a network that bypasses local regulations. . In this sense, Buda is a Chilean company in Chile. It is also a Colombian company in Colombia, but speaking of Chile, it is a Chilean company and therefore we should comply with all the laws that the state of Chile considers most important. Not because we are a cryptocurrency company we are going to be special and we are not going to abide by regulations that we believe are not the responsibility of the world of cryptocurrencies. This is not only gigantic egocentrism, but it also does a lot of damage to cryptocurrencies.

Buda is a very serious, very responsible company that wants cryptocurrencies to have a place in the countries in which we operate. And therefore, we comply with all regulations. What does not mean that when we have space to fight for the privacy of our users’ data, we have. Always. And that has even gotten us into trouble. But they are problems that we are willing to take on. But there are requests and requests. There are requests for goodwill and many of those we resist, and there are requests for will, if not they are already demands, and those no longer make any sense to remove them, because again, it does more damage to the ecosystem than it benefits .

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The Spanish section of IEEE will award the best research project based on Blockchain

The Spanish Section of IEEE has created the IEEE Blockchain Spain initiative, as part of the global initiative, and which aims to be the center of all IEEE Spain projects and activities around blockchain: From education standards, conferences, events, community development, publications, to special projects.

Through this initiative, the Spanish section aims to value the work of its members around blockchain technology, and bring this technology closer to companies and administrations.

The initiative already has more than 40 members who, among its first actions, will promote the “IEEE Blockchain Spain Initiative Award for the Most Relevant Project” and the “IEEE Blockchain Spain Initiative Award for the Best Research Article” around this technology. The awards will be presented during the IEEE Day 2020 that will take place in October.

The president of the jury will be the coordinator of the IEEE Blockchain Spain initiative, Javier Prieto, and the coordinator of Relations with Industry, Juan Jesús Yubero, will be secretary.

The resolution will be carried out by sending an email to the main authors of the awarded proposals. In addition, the winners will be announced on the website of the Spanish Section of the IEEE.

The Jury will be made up of members of the IEEE Blockchain Spain initiative and according to the profile of the works presented.

The publication also details that those members who submit nominations or have participated in the candidates’ work may not be part of the evaluation commission.

Also, it was known according to the publication that next year, The initiative will organize an IEEE Blockchain Initiative Summit within the framework of the IEEE GLOBECOM 2021 congress, one of the flagship congresses of the IEEE Communications Society, which will take place in December 2021 in Madrid.

The most important thing about the IEEE is the students

The Institute of Electrical and Electronics Engineers (IEEE) is the world’s largest technical professional organization, bringing together more than 420,000 engineers, scientists, technologists, and professionals in more than 160 countries., which are dedicated to advancing technological innovation and excellence for the benefit of humanity.

The most important members within the IEEE are the students, as they constitute the future of the organization. IEEE annually promotes more than 1800 international conferences around the world, in all the areas of interest of its societies.

Blockchain technology, an effective way to guarantee security and transparency

If we take a look at the current events that unfold before our eyes, we can affirm how relevant it is to consider the influence of new social trends, the value of transparency, access to information, etc.

The closest example we have to talk about the application of blockchain technology is in services where transparency and security are essential.

In short, thanks to the blockchain, many professionals are finding the possibility of designing solutions for their main objectives. Transparency and security have long become two important values ​​for society. Today, technology provides us with the foundation to achieve them. Transparency is the foundation of trust.

Prize to the winners

For those who are winners, they will receive a certificate granted by the Spanish Section of IEEE as part of the annual IEEE Day awards ceremony. In addition, the winners will receive a 50% discount on the registration of the Master of Blockchain and Smart Contracts taught by the University of Salamanca in collaboration with IBM.

It is important to highlight that in order to access the Master of Blockchain and Smart Contracts, the person who is the winner must meet the access requirements imposed by the University of Salamanca. A 50% discount will be granted to a single registration per prize, even if the project or article has been developed by several authors.

Regarding the decision of the award, it will be in charge of a special committee made up of members of the IEEE Blockchain Spain initiative. The committee will select the candidate who best meets the award selection criteria. The committee’s decision will be final.

The award will be a recognition to that project developed by members of the IEEE that offers an advance based on Blockchain technology for the different areas of the IEEE. Projects completed during the year prior to the closing of the call may be presented, or projects in development that have produced relevant results in this period.

In it, some important criteria will be assessed, described by the IEEE, among which the following stand out: The practical application and usefulness of the project, the number of people who can benefit from the project, the technological or business capacity that the project develops, thus as well as the volume of employment and investments generated that the project actually achieves.

For his part, the IEEE Blockchain Spain initiative award for the best research article tries to promote the development of Blockchain-based research within the IEEE areas.

In this aspect, Some important evaluations will be taken into account, among which stand out: The originality of the topic in which the article proposes, the results obtained in the development of this, the ingenuity of the proposal and the ingenuity of the solution, as well as its practical applicability.

The deadline for proposals will be until September 1, 2020, the awards ceremony will be in October of this year.

Remember that blockchain technology represents a new paradigm for the way information is shared. Numerous companies have begun implementing pilot programs and real-world projects in a variety of industries.

Blockchain has brought with it more than just a technological revolution. Among its possibilities is how to respond to the problem of trust management in an increasingly interconnected, more global and impersonal world. What is sought is transparency in a non-manipulable and fully trusted system for direct participants in a certain area.

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At what age did you find out that the Wizard of Oz tale is a criticism of Fiat money?

Americans have always been deeply suspicious of the idea of ​​the state. The culture of the United States is not very admiring of relying on very large organizations. We must remember that country was founded by Protestant settlers from Europe. And religion had a powerful impact on the country’s social, political, and economic life due to the influence of the first settlers. And that’s why North and South are so culturally different.

The internal configuration of the American is radically different from that of the Latin American. They look like beings from different planets. While the South is still searching for magic formulas in the style of the Dorado legend, major factions in the North have always maintained that magic is empty. I mean, the only real thing is hard work and the Wizard of Oz is a faker.

When we talk about the United States, we always fall for false descriptions. In fact, all that is said is half truth, because the United States is spoken of as a homogeneous body. For this reason, criticism generally doesn’t make much sense. It is said to be a country of libertines of moral lax, but it is also said to be a country of puritans and conservatives. It is the country of tolerance and at the same time it is the country of intolerance. We are talking about the consumerist culture, credit cards, excesses and bad taste. But we have billionaires, dressed in monochromatic flannels, jeans, and sneakers, donating millions to charity.

Read on: Bitcoin, controlled currency supply and market cycles

There is only one explanation for all these apparent contradictions and mixed signals. There is not a single United States. There are thousands. The liberal and the conservative. The urban and the rural. The young and the old. The religious and the layman. Southerners and northerners. The one on the east coast and the one on the west. The cult and the ignorant. The fat and the skinny. The worker and the businessman. The rich and the poor. The progressive and the reactionary. So, tAll what is said about the United States is true and everything it says is a lie. Because everything has its representative and its opposite.

Of course, in general terms we are facing an individualistic, optimistic, and entrepreneurial culture. The Protestant work ethic is based on constant effort, on the power of individual will and on personal sacrifice. The first settlers left Europe to work with their own hands. The dream was to be free to build their own destiny. On the other hand, the Spanish conquerors went to look for gold to be able to live idly like the Spanish aristocracy of the 16th century. They are very different mental schemes.

However, Why so much history lesson to talk about the Wizard of Oz? To give context. L. Frank Baum wrote the children’s tale The Wonderful Wizard of Oz after the 1893 panic and published it in 1900. Deflation caused a deep economic crisis that generated great political and social tensions. Before crises lasted longer than now. It was not uncommon to have prolonged seizures of 10 or more years. Baum was a somewhat liberal political activist socially, but conservative economically. A formula that we see a lot in Silicon Valley today. Baum was an advocate of women and Native Americans, but critical of the expansionary monetary policies of his time.

The Populist party was gaining strength and monetary expansion was intensified with the use of silver as a solution to deflation. We must remember that this was the “Gilded Age”, the era of industrialization in the United States. Railroads, oil, the rise of the first worker unions, and “Robber Barons” such as Vanderbilt, Andrew Carnegie, Andrew Mellon, JP Morgan, William Randolph Hearst, and John D. Rockefeller.

Read on: The world will not adopt a Bitcoin or gold standard, says Peter Brandt

Technological advances and industrialization increased production, which fueled amazing economic growth. However, What happens when you use gold as money and production increases? You have deflation. The price of gold goes up and the prices of things go down. And producing becomes less and less profitable and in less than what a rooster crows there is an economic crisis. Deflation reduces income and generates unemployment.

The solution is to increase the money supply to balance production. This makes economic sense, but it has a problem. It means government intervention in the economy. And the heavy heritage of pioneers still lives on in Americans who feel a natural revulsion at a large state. PThey refer to suffering a prolonged crisis than accepting centralized solutions. A personal way of the cross is better than being happy, but in dependence. Protestants prefer pain than submission.

Protestantism is a movement that promotes personal relationship with God. This stimulates subjectivity. And when subjectivity comes we usually have individualism in the social and anarchy in the political.

The Wizard of Oz as a political allegory and a critique of fiat money is not something that comes directly from the author. In fact, It is an interpretation that arose in 1964 by the historian Henry Littlefield, long after the publication of the work. However, his arguments are extremely powerful. And the story is no longer the same after reading this explanation. I always thought that story was about enjoying the life we ​​have and not looking for empty illusions on the other side of the rainbow. That is, it is better to stop dreaming about little birds and appreciate our life. PBut history could have another layer considering the author’s life and the historical moment in which he lived.

“Oz” is a derivation of an ounce, the unit of weight used to measure gold and silver. The girl Dorothy personifies the naive American people. The scarecrow represents the farmer who thinks he has no brain, but deep down he can be very smart. The tin man represents the industrial worker, especially the one in the steel industry, who is missing his heart, but the background has a great mystique. And it is speculated that the cowardly lion refers to the political class that gave up its principles to solve the crisis.

Read on: Why not compare pears to apples? Why is Bitcoin not the “new gold”? Let’s not be so foolish

The golden path that leads us to Emerald City is a reference to gold and Dorothy’s silver shoes are a direct and clear reference to silver. Because silver was used in the aggressive monetary expansion of the time. In the 1936 film, produced by Metro-Goldwyn-Mayer and starring Judy Garland, Dorothy wore Ruby shoes. But in the original story written by L. Frank Baum the shoes were silver. The witches with names of cardinal points are a reference to the regions of the country. And the Wizard of Oz is of course a fraud. The populist politician who promotes monetary expansion.

The debate on fiat money at heart is more political than economic. The problem arises when economic (false) arguments are used and to defend (valid) political positions. The other is that critics of fiat money present their positions as an absolute and unquestionable truth. But they forget that the majority of the population does not share this Protestant idea of ​​preferring pain over dependency. That is something very gringo (from libertarians in particular). But the rest of the world is not going to give up controlling deflation to return to crises of 10 years or more for mainly ideological reasons. The system does require many reforms, but radicalism does nothing. We need changes, but not with dogmas but with good sense and pragmatism.

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Economists analyzed the properties of Bitcoin and questioned whether it is a currency

In the framework of the conference cycle Decentralize 2020, A panel called “Bitcoin versus Traditional Economic Models” was held. There the panelists discussed, among other things, the scarcity model and the default issue of Bitcoin. The panelists who participated were: Diana Mondino (UCEMA), Agustin Etchebarne (Director General of Liberty and Progress), Iván Carrino (Deputy Director of the Economic and Political Master’s Degree ESEADE) and Fausto Spotorno (Director of the Center for Economic Studies of OJF & Asociados) . The moderator was Gonzalo Blousson (from Signatura).

The conversation came up with a question from Blousson that was a central point throughout the debate: “Is Bitcoin a currency?

Diana Mondino He replied: “It is not currency. There is a difference between bills, coins and money. It can be assimilated to money because it has some of the characteristics. ” But then he said: “It is a financial instrument, an investment. To my taste, it does not become currency ”.

On the other hand, Carrino said: “One of the big risks that the entire bitcoin community was looking at was regulatory. The problem that was detected is that the regulatory body is like a competitor to Bitcoin. ”

Carrino stated: “In the background, the spirit of Bitcoin is to compete. Bitcoin is a revolution against central banks. For a traditional economist, trained in some Keynesian / monetarist current, bitcoin is a challenge. Instead, for those of us who come from the Austrian School of Economics, Bitcoin is seen as reasonable. ” In this framework, for Carrino, those who are going to regulate this are those who compete with Bitcoin or have an interest in some way so that bitcoin does not do well.

Mondino recalled that all cryptocurrencies compete with each other: “If there is a proliferation of any of these assets, the purpose of Bitcoin is eliminated.

The only way bitcoin can be currency is not just stability but also that there is a single pattern. A unit is required. Until we focus on just one, I don’t see it being forceful as a currency. ”

Fausto Spotorno considered that Bitcoin’s ability to be currency is a long way off. “Today bitcoin is not a means of transaction,” he said. Then he made a comparison between what is called “bad money” and “good money.” He added: “When there are bad coins and good coins, you use the worst to spend first and you use the best currency to save.”

He added: “If Bitcoin grows in value, if it stabilizes at some point, if we think of it as a financial asset, it will be a better currency than the others. But I don’t see it as a currency. “

“As a store of value and as a financial asset, I believe that today it is functioning as a commodity”he stressed.

Mondino intervened noting that the first obstacle is the volatility of Bitcoin

Etchebarne also opined that Bitcoin is not a currency: “I see it very difficult for it to become a currency. It does not meet the characteristics of a coin. It is a speculative asset. It does not serve as a unit of account. ”

However, Etchebarne highlighted the technological value and the issue of privacy as very important.

“Blockchain and cryptocurrencies or crypto assets are used for certain types of transactions and in over-regulated countries. But, as a currency, Bitcoin has problems ”, he indicated.

Then he asked himself: “The question that always remains for me is quantum computing. If this will serve to crack the system at some point “.

Following that question, Blousson clarified that Bitcoin and the technology developments behind it “are alive.” And he highlighted: “I think Bitcoin is always one step ahead.”

Fausto Spotorno did not rule out that there may be some development that can become a currency at some point.

On the other hand, Etchebarne also referred to stablecoins: “I do think they can have a huge development, and the regulators are going to get into it and that is going to be the biggest risk.”

Agenda for July 31

The talks that will take place tomorrow (with Argentine time) are detailed below.

15:00 – Decentralizing from the NGO Bitcoin Argentina

15:10 – How to train in the crypto world

15:30 – Workshop on types of wallets

15:50 – How to avoid falling for cryptocurrency scams

16:10 – PANEL – How to buy cryptocurrencies in Argentina

16:50 – PANEL – Legal and accounting aspects in Argentina

17:20 – PANEL – Cryptocurrencies without volatility “Stablecoins”

17:50 – PANEL – DEFI: Decentralized Finance as an alternative

18:20 – Instant and commission-free payments with crypto on your cell phone

18:35 – PANEL – Cryptocurrencies in your investment portfolios

18:30 – Projecting the future value of Bitcoin

19:25 – Binance in LATAM: Opportunities for the region

19:40 – PANEL – Main Activity – The future of money Post-COVID19

As explained by the organization, COVID pushed everyone to digitize their practices. Nations do not escape this reality and neither do their currencies. China, USA, Facebook, Fintech, companies and countries launch their own cryptocurrencies to give an unprecedented fight. Hazards and threats will be discussed.

Participants: Lucas Llach (Economist and professor at Torcuato Di Tella University, ex-vice president of the Central Bank and Banco Nación), Gabriel Basaluzzo (Director of the Degree in Finance from the University of San Andrés – PhD. Economics University of Pennsylvania), Victoria Giarrizzo (Economist, teacher and researcher at the UBA. Director of Movida Argentina ONG, CERX), William K. Santiago (Founder and CEO, C4 CBP at PrivKey LLC, Blockchain strategist, cybersecurity), Alberto García-Lluis Valencia (Strategic Advisor in the process of Digital Transformation of the Financial Sector, Economic Hacker)

About Decentralizing 2020

DescentralizAR 2020 is a series of conferences organized by the Civil Association for the Development of Decentralized Ecosystems (NGO Bitcoin Argentina). It is an initiative aimed at entrepreneurs, individual and institutional investors, as well as entrepreneurs, professionals and the general public interested in economics and technology.

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Grupo Oesía launches the first Blockchain-based public bidding system

One of the most controversial issues in recent years is corruption in public procurement, where new events are discovered every day that involve the people in charge of the bidding process, fictitious companies that apply to hundreds of bids and high-ranking officials who arbitrarily use their influence to award bids bypassing the normal contracting processes.

Taking into account these risks and the most frequent types of corruption, and using the premises of Blockchain technology, it will allow the information provided by all the entities that participate in the process not to be manipulated.

In this sense, the company Oesía carried out its first public bidding process without human intervention. The first has been 100% automated, which took place this week. This has been indicated by the Oesía Group to our Cointelegraph team. It seeks to improve the public bidding process, guaranteeing transparency and efficiency.

Yes, the application of Blockchain in public and private processes allows raising the levels of transparency and security. Data is stored on the blockchain that gives the technology its name, making it immutable, protecting the data through encryption and identity management processes.

The tool, developed by Grupo Oesía and Open Canarias, incorporates blockchain technology and smarts contracts in electronic bidding, which allows both the registration of the electronic footprint of the offers of public contracts, and the automatic evaluation of them. So far it has been applied in 25 contests.

In this way, any attempt to alter the information is avoided, great traceability is offered and privacy is protected. These and many other advantages make blockchain one of the most secure and versatile technologies that exist to store and manage private and public information.

Usually, the public bidding process on a blockchain network involves creating multiple smart contracts, one for each phase of the hiring process. The first executes the registration of the purchasing unit, that is, the public agency that intends to purchase a product or contract a service.

The second smart contract is the supplier registration, in which the data of the companies that want to participate in one or more bidding processes are stored on the blockchain. Within this second contract, another is also executed that verifies the supplier’s reputation according to the information registered in the network about the results it has obtained in previous tenders.

A smart contract room is the one that allows you to store important information about a contracting project, from the registration of the project to the result of the tender. To carry out the award of a project, a fifth smart contract is executed, which assesses the technical requirements of the proposals registered in a bidding process.

In the case of the Oesía Group, they have implemented processes that seek to guarantee the integrity of the offers and receive only their footprint at first, and only receive the complete offer when it is strictly necessary to have it (when you want to value it) and validating that footprint-offer relationship through a smart-contract that acts as a notary to ensure that not a single bit of the offer has been changed. his footprint was presented.

They have also created more efficient processes, where managers do not have to review the calculations of the scores of the criteria subject to evaluation by means of formulas, since they can trust a system where that assessment is implemented in a smart contract, which will leave a distributed and immutable traceability of how they have assigned the scores and that anyone can audit.

In general, they have created new rules of the game, where the public traceability of everything that occurs in the bidding process is available to anyone in real time.

The application of blockchain technologies is still in its infancy in the public bidding sector, even internationally, but it represents a complete paradigm shift in this area.

Blockchain on the confidentiality of tender documents

Blockchain technology can act as a guarantee of security and confidentiality in relation to the information that public sector entities put in the hands of bidders in the bidding process.

The decentralized, transparent and secure nature of the Blockchain protocol can fulfill the conditions for a better commitment of the contracting entities regarding the confidential information they handle. Achieving a more transparent and reliable process for your treatment.

Spain leader in using Blockchain for public tenders

Spain has been a pioneer in launching the use of Blockchain technology in the public bidding sector, the use of this practice underscores its contribution to security and transparency in public management.

The government of the autonomous community of Aragon, in Spain, began using blockchain to manage some parts in this public works bidding process.

The tool not only uses Blockchain, it also incorporates smarts contracts in electronic bidding, that allows both the registration of the electronic footprint of the offers of public contracts (which acts as a tender) and the automatic evaluation of them.

The chosen technology is Hyperledger Fabric (a project of the Linux Foundation), backed by the subsequent registration in a public blockchain of the most relevant elements of the award procedure, which can be consulted by anyone.

The autonomous community of Aragon has been a pioneer in the implementation of blockchain within the administration. This was evidenced when in September 2018 he joined the Alastria group, a blockchain ecosystem of more than 274 entities, including companies and institutions that create blockchain-based tools in line with Spanish legal frameworks. and from the EU.

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Five years later, the growth of the Ethereum network echoes Nvidia’s bull run prior to 2016

In July 2016, just four years ago, Nvidia was a $ 26 billion company focused on GPU chips and graphics card production. In comparison, the long-standing industry leader was Intel Corp, with a market capitalization of $ 166 billion.

The nearly 40-year-old chipmaker was a top-tier Fortune 500 company And, at the time, he was probably unfazed by such a small competitor.

Nvidia’s previous maximum market capitalization occurred in October 2007 when its value was close to USD 22 billion. After the 2008 financial crisis, stocks collapsed by more than 80% and took nine years to recover.

Ether (ETH) faced a very similar battle in 2018 after peaking at $ 138 billion market cap, and has yet to pick up those long-awaited glory days.

Intel (INTC) and Nvidia (NVDA) market capitalizations

Market Cap from Intel (INTC) and Nvidia (NVDA). Source: Koyfin

Ethereum and Nvidia share several similarities

In addition to looking alike in market capitalization to the current $ 35 billion of Ether, Nvidia’s shares traded about $ 10 billion in monthly volume in 2016, compared to the current transparent current volume of $ 13 billion Ether, according to data from Messari.

The manufacturer of graphics chips It became world famous after the launch of the Unified Computing Device Architecture, or CUDA, in 2006. CUDA is basically a parallel computing platform and an API model.

In the same way, Ether stood out above Bitcoin (BTC) by creating multiple layers on your blockchain and allowing additional processing capabilities.

Nvidia CUDA architecture

Nvidida CUDA architecture. Source: Quora

Ethereum 2.0 architecture

Ethereum 2.0 architecture. Source: Hackeroom

As shown above, Both the CUDA and Ethereum 2.0 multi-layer architectures proposed fragments of parallel processing.

Nvidia strategically embraced difference and competition

Rather than compete with Intel’s CPU processing power and mastery, in 2016, Nvidia released a supercomputer designed to train deep learning models based on eight of its high-end GPUs using a single Intel Xeon CPU. Yes, a competing item was included in the product developed by Nvidia.

Similar to the strategy used by Nvidia, Instead of emulating the qualities of the leader, Ethereum is taking an approach to capitalize on their differences. Just three months ago, Vitalik Buterin proposed a DEX bridge solution to provide easy movement between the Bitcoin network and Ethereum.

In dissecting the core Ethereum 2.0 solution, one can find an exaggerated current differences with Bitcoin. Ethereum 2.0 is increasing the number of independent layers, further reducing the capacity of each node to validate all the processing power.

The same can be said for the ERC-20 token, Wrapped Bitcoin (WBTC), operated by a decentralized autonomous organization. Meanwhile, solutions running in Ethereum’s decentralized finance ecosystem have been mimicking the success of Compound and MakerDAO, using Bitcoin, supposedly one of its competitors.

Ethereum network goes beyond Bitcoin’s proposal to safeguard value

The Ethereum team doesn’t seem to care about competing with Bitcoin to become the best solution to safeguard value or means of payment.

The upcoming proof of stake / PoS migration is further evidence that Ethereum is using a similar strategy to that used by Nvidia. It is mathematically impossible to determine the valid string without an additional source of confidence, according to a Cornell University study.

Ending the Ethereum mining era could mark the definitive break between Bitcoin and the second-largest cryptocurrency by market cap. Chances are the two very different products will no longer be evaluated with the same valuation metrics after the complete Ethereum 2.0 makeover.

The divergence of the use case narrative carries its risks

Almost all options have an opportunity cost, and this is especially true in the world of technology. The more robust integrated processors could have easily absorbed the graphics GPU markets.

For example, last month, Apple announced that it would design its CPU, hinting that it could also enter the GPU production markets.

In addition to increasing the competition from other native smart contract blockchains like Tron and EOS, Ethereum presents certain obstacles facing the next update of its network. Even if everything goes as planned in terms of PoS scalability, security, and incentives, there is no guarantee that decentralized applications, smart contract developers, and users will continue after these updates are rolled out.

As Ethereum’s proof of work / PoW incentives shrink and eventually die out, That will undoubtedly power smaller projects using compatible mining equipment, such as Ethereum Classic and Haven Protocol.

One battle at a time

Ethereum undoubtedly has the largest active number of developers, as well as a constantly growing DApps ecosystem. Meanwhile, development activity from its competitors, EOS and Tron, has recently plummeted.

Not a long time ago, Ethereum finally surpassed Bitcoin, becoming the most widely used blockchains. Such an impressive feat was fueled by the DeFi sector and ERC-20 stablecoin transactions.

Ether’s recent rise above $ 300 to its highest level in 11 months shows that the strategy appears to be working successfully. Whether it will be able to replicate Nvidia and eventually outperform the long-standing industry leader in a couple of years will remain an open question.

The views and opinions expressed here are solely those of the Author and do not necessarily reflect the views of Every investment and business move involves risk, you must do your own research when making a decision.

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The Bank of Spain joins the debate on digital currencies of the Central Bank (CBDC)

With the publication of a report issued on June 3 of this year, the Bank of Spain joins the debate on the Central Bank’s digital currencies, better known as CBDC.

The document by Juan Ayuso and Carlos Conesa, presents an overview of the meaning of a central bank digital currency (CBDC) that can serve as a basis for a discussion that allows us to delve into the different aspects of the currently open debate on this digital financial asset, also refer to the motivations that may justify the issuance of the CBDC.

Along the same lines, the researchers, who are also members of the Committee on Payments and Market Infrastructures of the Bank for International Settlements (BIS), in your post “An introduction to the current debate on the central bank digital currency”, highlight the value of Bitcoin and other Cryptocurrencies. The stablecoin’s proposal, pound, which is also backed by Facebook one of the largest global bigtech, is perceived as a threat to the proper functioning of payment systems, to consumer protection, to prevent terrorist financing and laundering of money, for financial stability and for the monetary autonomy of the states.

“The threat from stablecoins is not, by itself, a sufficient reason to issue CBDC. This issue has wide-ranging potential implications that require a detailed analysis that makes it possible to properly assess the advantages and disadvantages of any decision in this regard. The current context and the need to be prepared for possible future developments require, in any case, that such analysis be carried out with some urgency, as recent initiatives attest – for example, the creation of a group made up of central banks in Canada, United Kingdom , Japan, Sweden and Switzerland, the European Central Bank and the Bank for International Settlements, to exchange experiences and evaluate potential use cases- “

Financial inclusion and payment systems

The report states that there are three areas that must be taken into account in the issuance of CBDC: the use of cash, financial inclusion, and certain limitations in payment systems.

In some countries, such as Norway and Sweden, the use of cash is decreasing proportionally, and in many businesses it is no longer accepted as a means of payment.

“The central bank may issue a CBDC of universal scope and similar to cash, with the objective that the population will continue to have access to a medium of exchange without risk and of public provision. The CBDC would also have a separate exchange circuit that would allow its use in the event that private systems fail for any reason. “

In consecuense, central banks are especially eager to solve the problem caused by the low use of cash in some economies, in addition to having access to the unbanked market through a CBDC.

“The access of the CBDC would allow to identify the unbanked users, carrying out basic processes of know your customer (know your client or KYC). This knowledge of the client, along with their transaction history, could later facilitate bankarization. ” Note the report issued by the investigators.


Ayuso and Conesa explain in their report that there are three scenarios that are of particular concern, since they can have a great impact on the operation of central banks, in the event of issuing a CBDC.

The first is that the CBDC could displace bank deposits, the second that the digital currency can facilitate the massive flight of deposits from an entity, at a certain time of crisis, and the third, but not least, has to do with a “Massive flight of deposits from the banking system, in the event of a global distrust of the financial system as a whole”.

In this sense, it is feared, then, that at critical moments the depositors of an entity may try to transfer their balances to safer assets.

“In this case, the leakage of deposits could be favored in a context with CBDC, which could be acquired and would have less maintenance costs (in terms of security) than cash. However, it should be noted that if the CBDC conversion rules were similar to those applicable with cash, the central bank would not assume a limited commitment higher than the current one, but the conversion of deposits into BCDC could only be carried out to the extent that there were reserves available in the affected entities (as is currently the case with cash), ”Abuso and Cosa review this in their report.

CBDC cash-like as cash supplement

In the report, specialists also outline three models that could be adapted to the problems raised above, and whose characteristics are totally different.: CBDC cash-like (as a supplement to cash in those places where its use is in decline or to promote financial inclusion); secondly, the wholesale CBDC (to improve wholesale payment systems), and lastly, the x-border CBDC (to improve cross-border systems). Being the

CBDC cash-like as close to current cash, but in a digital format.

“It would be universally accessible, although the central bank would most likely rely on private entities for its distribution. It would not be remunerated and, although it is not possible to guarantee perfect anonymity in an electronic system, it could be implemented with a high degree of privacy. (…) This type of CBDC could be a complement to cash, improve financial inclusion, be (potentially) an alternative to private payment circuits and even (if the exchange system associated with CBDC were efficient) improve the operation of the local payment system ”.

Finally, Ayuso and Conesa outline solutions to the concerns raised, such as placing a limit on the use of digital currency with caps on balances and highlighting the possibility of designing “custom CBDC model”According to the characteristics of each economic model.

Can the use of CBDCs improve monetary policies?

In this same order of ideas, the study carried out by Galo Nuño, published on July 30, 2018 on the agency’s official website titled, “Monetary policy implications of digital money issuance by central banks” Maintains that:

“An argument that could be considered when evaluating the introduction of CBDC is related to the improvement in the condition of monetary policy through better control of the market returns faced by savers and borrowers. Likewise, the possibility of eliminating the restrictions associated with the zero level of the interest rate is theoretically attractive, especially in an environment of low interest rates such as the current one. However, the uncertainties and associated risks are significant and require banks to be cautious in this regard. ”

In the document, Nuño explains that, the issuance of a digital currency by the CBDC central bank would considerably optimize the management of monetary policy to “to get better” control of the market returns faced by savers and borrowers.

At the same time, he explains that the introduction of CBDC could improve some aspects of the functioning of payment systems, generating considerable productivity gains associated with the introduction of this digital currency.

On the other hand, in the event of the elimination of cash, the main reason that justifies the existence of the so-called “Zero fee“Of interest rates, This refers to the difficulty that financial institutions have in establishing negative remuneration for retail bank deposits, since in that case agents could withdraw their funds and save by accumulating banknotes, he explains on the subject.

On the contrary, the CBDC interest rate would be the one marked “floor”Of these, which breaks with the current asymmetry of monetary policy – the central bank can increase interest rates as much as it wishes to combat inflationary pressures, but cannot lower them well below zero in case of deflation-which It produces around the zero level of interest rates, allowing, in principle, greater cuts in nominal rates if necessary.

Both cited investigations, – Nuño (2018) – and Ayuso, Juan and Conesa, Carlos (2020) – a very marked difference is observed due to the progress made in these two years in the study of central bank digital currencies, however, they agree that before issuing a CBDC, it is necessary to appreciate the limitations of the financial system that a digital currency must face and could overcome, together with the advantages and progress that it can bring to the system.

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Five years later, Ethereum’s DApp ecosystem looks exactly as predicted

Ethereum’s fifth anniversary since the launch of mainnet is upon us, marking an important milestone in the long history of the first smart contract platform to achieve significant adoption.

After the hype of the initial coin offerings, Today’s main narrative behind Ethereum is decentralized finance, an ecosystem that seeks to recreate the financial system from scratch on the blockchain.

Since Ethereum was founded, the application layer has been at the center of its value proposition. In a interview from 2014, Ethereum co-founder Vitalik Buterin illustrated that Ethereum is not just about the Ether coin, noting a variety of alternative tokens that could find use:

“You can use that currency that uses financial derivatives to perfectly track the price of a US dollar. You can use coin baskets or […] now you can also have a contract that acts as a bitcoin side chain. “

In a somewhat prophetic statement, Buterin essentially described Dai (DAI), the decentralized token that uses a co-guaranteed loan system to maintain an anchor to US dollars.. Buterin may have spoken to Rune Christensen, who at the time was already developing what would become MakerDAO.

Centralized stablecoins like Tether (USDT) and USD Coin (USDC) can be considered coin baskets, while Bitcoin-on-Ethereum projects like WBTC, tBTC and Ren fulfill the role of side chains.

He went on to explain the main use cases he envisioned for the Ethereum blockchain:

“We are talking about things like making your own currencies, putting other currencies, decentralized organizations, voting protocols, name registration, any type of financial contract, financial markets.”

Many of these use cases can be found on Ethereum today.

The DeFi was destined to emerge?

Ethereum’s early years can be characterized as the preparation and execution of the era of initial coin offering.

In a interview December 2015 at Devcon 1, Buterin spoke about financing public goods and said:

“In general, almost everywhere, there is a chronic problem that public goods do not have sufficient funds, and practically nobody has been able to find a consistent solution apart from the governments that run and take 30% of the money from persons”.

The DAO was the first attempt to solve this problem on the Ethereum blockchain. It was an “Autonomous Decentralized Organization” where the community pooled funds and decided which projects to invest in based on a decentralized system of government.

The idea quickly faltered, primarily due to a smart contract bug that resulted in the theft of a significant portion of all outstanding Ether. But while the launch and subsequent crash unfolded in the summer of 2016, the actual development of the DAO started sometime around August 2015, almost immediately after Ethereum’s launch on July 30.

Decentralized financing in the form of ICO went through its own boom-bust cycle afterward, but Many of the existing DeFi projects have their roots in the climax of that era.

MakerDAO is He launched in December 2017. Compound Labs was start in August 2017. ETHLend, the forerunner of today’s Aave, was born as a September 2017 ICO.

In a conversation with Cointelegraph, Corey Petty, chief security officer for Status, said he believes that “This push for DeFi was inevitable.”

But the infrastructure took time to establish. “It only happened now because we had not had enough liquidity and stable currencies to build things on top of it.”he added.

Kain Warwick, founder of Synthetix, told Cointelegraph that he does not believe that finance is “Ethereum’s central focus”, but that “the point was that widespread smart contracts could open up worlds of possibilities.”

“In hindsight,” he added, “it makes sense that decentralized finance is one of the first categories of contracts that has actually reached adjustment in the product market.”

The world of DeFi is also reviving the concept of DAO as many projects rely on community governance with similar incentives to participation. Warwick said:

“What changed between 2016 and 2020 is time. Anything new takes time. It takes time to make mistakes, to fail, to learn from your mistakes and the mistakes of others, and use that to move forward. “

However, he added that “DAO’s rebirth is still in its early stages.”

What about non-financial uses?

One of the defining characteristics of the ICO era was the idea that blockchain technology and smart contracts could be applied to almost any real-life industry. As many of the promises were not kept, some were disappointed with the general concept of blockchain.

Petty believes that “what you saw in 2017 was a kind of irrational exuberance of technology before it was really ready.” According to him, the infrastructure was not yet in place for these projects to prosper, which is why Status decided to contribute to the construction of Eth 2.0, developer tools and a decentralized messaging system for the government.

Warwick believes it was a matter of incentives, noting that “Only recently have we started to demonstrate how to use native tokens to properly incentivize and kick off the first effects of the network”. Although he referred to the ENS system as a current example of “incredible innovations” that are not financial in nature.

The next five years

As we are currently witnessing the growth of anticipated key use cases five years ago, it could be argued that some of the ideas from 2017 will also return.

Petty noted that Status seeks to develop the Ethereum infrastructure so that “those narratives, those use cases, those companies can come back and be really useful.”

A decentralized and ephemeral messaging system is a central component of that, in his opinion, since it would allow decentralized organizations to coordinate in a unified and integrated system.

Warwick, on the other hand, focused on DeFi’s growth:

“I think the next five years of Ethereum innovation will likely focus on finance, we have two decades of faltering fintech ‘progress’ to overwrite and it will happen very quickly.”

But once people get comfortable trusting Ethereum for programmable money, he said, “Trusting Ethereum for everything else will be much easier.”

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Five innovations that have highlighted Ethereum in 5 years of history

Key facts:
  • Smart contracts and cryptocurrency collections became popular on Ethereum.

  • The phenomenon of decentralized finance is another of the innovations associated with this blockchain.

This July 30 marks the fifth anniversary of the launch of Ethereum, a platform that emerged as an improvement proposal in the face of “serious scalability problems” that arose when building on Bitcoin, according to the words of the platform’s co-founder, Vitalik Buterin.

The developer expressed these ideas in January 2014, within the framework of the “North American Bitcoin Conference” held in Miami, where he presented the project for the new cryptocurrency platform. However, five years after its launch, Ethereum has similar scalability issues, so it strives to migrate to another network with a new architecture.

In his 2014 speech, Buterin explained that Ethereum would be a platform that would work on the concept of contracts that act as an automated agent, with a language of scripting more powerful for developers. He also emphasized the ability to build secondary coins for highly specialized purposes.

With this approach Buterin offered a list of descriptions that served as a preview of the series of innovations that have gained brilliance in the cryptocurrency ecosystem through Ethereum.

Among the tools that became popular with Ethereum – many of which already exist in Bitcoin – are smart contracts, initial coin offerings (ICOs), decentralized apps, non-expendable tokens, and decentralized finance (DeFi).

From these developments, in these five years the platform has given rise to multiple projects and has become a benchmark within the industry. Let’s talk a little about these innovations.

Smart contracts

The concept of smart contracts (smart contracts in English) was first defined by the American computer engineer and jurist Nick Szabo in 1994, as “a computer protocol capable of executing contract clauses.” In doing so, he referred to the agreements that have the capacity to be fulfilled automatically once the parties have agreed to the terms.

However, the technology of that time did not allow the idea to materialize. It was not until the birth of Bitcoin, in 2009, when smart contracts came to life.

Despite the fact that the concept was known since the last century and is part of the pioneering network protocol, the practical application of smart contracts gained notoriety with its integration into Ethereum.

For the implementation of these contracts the creators of Ethereum they introduced the Solidity programming language, Complete Turing language that makes it easy to program a computer to perform a variety of operations. This allows anyone to create smart contracts on the blockchain, just by writing the logic in a few lines of code.

Smart contracts aim to make daily life easier, more efficient and less expensive, by automating common processes and eliminating intermediaries that often delay procedures.

Between June 2019 and May 2020, more than 9 million contracts were implemented on Ethereum. Source: Dune Analytics

Today, they are widely used in most of the existing cryptocurrency networks, although remain one of Ethereum’s most prominent features.

Smart contracts have become the basis for the development of most innovations in the ecosystem. As we will see later, they are in almost all the solutions that are built on top of a blockchain.

According to Dune Analytics statistics, an online analysis platform, between June 2019 and May 2020 the number of contracts implemented in Ethereum has exceeded one million per month.

Initial Coin Offerings (ICO)

The first fundraiser for the implementation of a blockchain-based project was MasterCoin, now called Omni, launched on top of Bitcoin. However, with the creation of Ethereum this type of collection became more known and gained popularity a term widely used today in the crypto world: The Initial Coin Offering (ICO).

On July 22, 2014 Ethereum launched the presale for its cryptocurrency, called ether (ETH). The terms of the ICO established that the initial price of the tokens would be 2000 ether for 1 bitcoin (BTC), and that they could not be traded until the genesis block was mined.

After selling some 60 billion tokens to its investors, the entire Ethereum ecosystem developed. Currently the platform is used to launch other cryptocurrencies.

Starting with the ERC-20 standard token, defined by the Ethereum Foundation, any developer can issue their own versions of token and collect funds with an ICO. In this way, the collectors establish their collection strategy, the goal to be achieved and receive ETH in return during the collection. With this financing model, trillions of dollars have been raised through Ethereum with initial coin offerings.

blockchain ecosystem cryptocurrencies ico
Initial coin offerings became popular from their implementation on Ethereum. Source: grafvision /

ICOs generated a kind of economic bubble between 2017 and 2018, when they grew exponentially and peaked in popularity. From 2019 the escalation stopped. The scheme that led many to think that they would get rich quickly, and which led to various fraudulent projects, seems to have vanished.

It is possible that pressure from the authorities influenced this decline. Since then, new experiments and dynamics have emerged for the launch and financing of cryptocurrency projects. Even so, the ICO model is still valid, only requires adequate regulation.

Decentralized applications (dApps)

Decentralized applications (dApps) are pieces of code written in smart contracts that communicate with the blockchain and are programmed to control various actions. They process the external information they receive, while the codes are executed in a P2P network (peer-to-peer).

How a dApp works depends on two elements: a network like Bitcoin or Ethereum and an execution environment. The blockchain allows the application to have a decentralized network infrastructure, while the environment makes it possible for dApps to be designed and executed under a defined framework and behavior.

In this case, the communication channel is the blockchain and there is a record of each operation that goes through the smart contract.

In particular, the infrastructure behind Ethereum has been noted for facilitating the creation of dApps simply and quickly. Hence the spread of decentralized applications had its maximum with the implementation of smart contracts on this platform.

In these 5 years of Ethereum’s history, the number of applications has grown substantially. There are already around 3,500 applications, encoded not only in this blockchain but in other platforms such as EOS, Tron, Neo and Steem.

quarter 2020 ethereum transactions
In the second quarter of 2020, dApps mobilized more than USD 12.4 billion. More than 90% of those transactions were executed on Ethereum. Source:

Despite the competition, the network maintains its leadership in this industry. Of the total decentralized applications, about 1,959 (almost 60%) are on Ethereum.

However, the data for this second quarter of 2020 shows a decrease in both the number of applications and the number of users. The quarterly report indicates that active users went from 4.85 to 3.81 million, and new DApps fell from 135 to 99. In this same period Ethereum doubled the number of active users in the DApps that run on your blockchain.

Non-Expendable Tokens (NFT)

A non-fungible token (NFT), also called a collectible token, is defined as a type of crypto asset that can be uniquely identified during its exchange and circulation. NFTs differ from fungible tokens (FT) in that they are indivisible and unique assets that can be kept on a blockchain. Both make it easy to create virtual representations of the real world.

With the development of the Ethereum ecosystem and the advancement of crypto asset creation through smart contracts, standards were proposed for NFTs. The ERC-20 standard was used as a fungible token, to develop the ERC-721 standard, the best known implementation of an NFT.

The proposal was raised by Dieter Shirley in 2017, who explained that these assets allow smart contracts to function as unique tokens. They are also interchanged similarly to ERC-20s.

Although the first non-expendable tokens existed in Bitcoin, such as those generated by the CounterParty platform, became better known in late 2017 and early 2018, when the company Axiom Zen launched CryptoKitties on Ethereum. The game allows you to acquire, breed and match virtual cats with unique characteristics. The first cat in the series, Genesis, was sold for 247 ETH ($ 117,000).

Cryptokitties’ huge success spawned numerous games in the form of decentralized apps over Ethereum and inspired similar ones based on the same standard, with variations in the allocation of unique tokens.

cryptocurrency eth ecosystem purchase
The capitalization of the non-expendable token market has been growing since 2017. Source: Non-fungible

Due to the popularity of games, the NFT standard is updated frequently. ERC-875 and ERC-998 are new proposals, based on ERC-721, that seek to improve the way of making transactions with these tokens. The ERC-1155 standard, approved in 2019, offers the possibility of creating both expendable and non-expendable assets.

In 2018 the NFT market grew by 482%. The figure fell in 2019, with growth of 17%. For the beginning of 2020 an advance of 50% was estimated, in calculations of the firm Nonfungible.

Decentralized Finance (DeFi)

The DeFi market constitutes the phenomenon of the moment in the cryptocurrency ecosystem. Emerges as an alternative to traditional finance and to the financial products and services offered by banks.

DeFi are defined as a new financial ecosystem, decentralized, global, transparent, resistant to censorship, without intermediaries and easily accessible, where each user has control of their assets.

Most of the tools to launch these platforms are the innovations explained above. Digital assets, dApps and smart contracts, along with decentralized exchange protocols and platforms (DEX), are essential for the development of the DeFi market.

market statistics attractive defi
Decentralized finance is one of the most attractive innovations of the moment. Source: Boonmachai Mingkhwun /

Ethereum is the blockchain associated with the birth of these products, because the stablecoin DAI (cryptocurrency anchored to ETH), became the basis of the system.

However, given the popularity of the Defi, other platforms are implementing this type of these services. EOS, Tezos and Algorand are some of these blockchains that dabble in DeFi.

In a recent tweet Ethereum co-founder and Consensys founder Joseph Lubin offered new data on DeFi’s growth on Ethereum during the second quarter of 2020.

According to the Lubin report, the ETH blocked in DeFi registered an increase of 500,000 after the launch of the COMP token of the Compound loan platform. The platform ends the second quarter of the year with a new all-time high of 3.3 million ETH blocked.

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To invest or not to invest in Bitcoin? What to do before the climbs?

Not even Nostradamus the fortune teller knows what the maximum is in a bullish move. Nor is it known when the minimum has been reached. We are told that we must buy at the bottom and sell at the top. But that is easier said than done. Because we know those values ​​only when we look back and it is too late. We can know last year’s minimum, but it is impossible to know next year’s minimum. And that’s the important minimum. The one of the future. And it is precisely that which is impossible to know. How do we solve this paradox? When should we buy Bitcoin and when should we sell it?

For a long-term Bitcoin investor the best time to buy is yesterday. In 20 years, it won’t matter if it was bought at today’s or tomorrow’s price. Just as it doesn’t matter today if you bought Bitcoin for $ 1 or $ 3 10 years ago. Time tends to fix bad valuations. People who bought in December 2017 today regret the decision, but when Bitcoin reaches a million dollars that decision will be reinterpreted and seen in a different light. However, There is always room for improvement in terms of trading techniques. We can’t leave it all to you at once.

Read on: Bulls Control Bitcoin Price Even When Funding Rates Reach Record Levels

Everything is in the mind. Well, not exactly in the mind. Everything is in the character. Mind, soul and heart. The bitcoiner who wants to be the richest in Babylon must become a Jedi master. When have you heard Master Skywalker talk about Lambos and Penthouses? This is not all about living like a drug dealer. Idiots with bad taste there are already many. It’s about being a samurai warrior. The captain of your soul and the master of your destiny. It’s about having the testicles of steel.

In this spiritual fight, we have two great antagonists. Two titans. The demon of greed and the demon of fear. And we fall into this because of folly. What usually happens? Well, Bitcoin rises in price and suddenly optimism returns. The investor catches all this positivity and does not want to miss the train. The famous FOMO. The same thing happens when Bitcoin goes down, but the other way around. The FUD. That’s because we don’t want to miss out on the opportunity. Here is the error. We think that the opportunity cost is real money. That is why if a trader gained 10% in one day, but Bitcoin raises 5 more points after its sale, he regrets because he sold very early. And it talks about that 5% that did not win as a loss. That is not the mindset of a Jedi Master. Master Yoda would tell us: “Fool you are.”

A Bitcoin is a Bitcoin. Price fluctuations should not take our sleep away, because they are only relevant when we are going to buy or sell. And being a samurai warrior is more about buying than selling. So the downs are always more interesting than the ups. The holiday is when everyone is trembling with fear. And the day when everyone is celebrating, the thing turns a little grayer. For all that you have to be greedy when others are afraid, and fearful when others are greedy. It is always a good business to buy from pessimists and sell to optimists.

Personally, I have found an indicator that has proven infallible. I have named it the “Max Keizer Indicator”. The Max index is an indicator of my authorship. The matter is like this. Max Keizer is a media man. He hosts a well-known show on financial issues and is a sick Bitcoin fanatic. It is a Bitcoinnazi. So, Every time Max Keizer makes a prediction, which is almost always optimistic in the extreme, Bitcoin drops in price. Anyone can check this. It is the only indicator I know of that never fails. You can search Max’s past predictions on Google and compare the price with a graph of the price. The result is astonishing.

The point of all this is that the smart investor understands greed and fear with enemies to overcome. The moment it crosses our mind that Bitcoin will rise infinitely and soon we will be millionaires to buy the Miami Vice lambo, the Trojan horse has already entered the city and the next thing is the flames. And vice versa. If we panic during a kill, we’re done.

Read on: The price of Bitcoin, Ethereum, and Ripple cryptocurrencies seem to be creating an upward pattern with new higher supports

In order not to depend on emotions, we need to have a strategy. The master plan. You have to put on Dalí’s mask and red panties. The goal is not to guess the lows and the highs. The goal is to grow our heritage. It is not about throwing a hit all the time hitting all the balls. This is a marathon. Our empire will be built one block at a time. Calm must be keeped. And go slowly.

Here is a suggestion. The plan may be as follows. It is not financial advice. It is just the anecdotal description of my personal plan. My secret sauce that I now reveal to the world as a world first. Every week I buy Bitcoin, a similar amount, regardless of the price. Example. Amount X every Friday. Friday comes, I buy X $ in any weather. I write down my purchases on an Excel sheet. The total amount invested and the average purchase price. The price goes up and down. So sometimes you buy expensive and sometimes cheap. But all together they form an average. And all the weekly amounts add up to a total.

Now if the price rises above my average, I am winning; And if it drops above my average, I am losing. My goal is to earn more than 20% a year and reinvest most of the profits to form an epic snowball. Why 20%? Well, because banks offer me 3% a year and the S&P 500 offers me 10% (on average) a year. So, my goal is to get a better performance with Bitcoin than I could get with the alternatives. More of that is luxury. Welcome if it did, but my expectation at first is to outperform the S&P 500 and achieve performance like that of Warren Buffett or Carl Icahn. As simple as that. One year. Amount invested + 20%.

Read on: What is the most important thing in Bitcoin? Its price or its development?

I am not looking to guess the minimum or the maximum, but I am forming an average. Now, suppose my average is the same as the Bitcoin average, which is what normally happens. Suppose that average of $ 8,888 per unit. And one fine day Bitcoin skyrockets and hits $ 11,000. 23% in a single day. What to do in this case?

We go to the document in Excel and see the total amount invested. If it’s $ 100, we have $ 23 profit. Well, that day we can go eat ice cream. And we put $ 5 in fiat. And the rest we left there in cold blood. However, we continue to religiously buy the same amount X every Friday. We do not sell everything. We only sell a percentage of the profit. We will use that balance in fiat when Bitcoin goes down a lot using our average as the reference.

If Bitcoin rises more, or falls more, there is no problem. We sell more or buy more. But not all. Always being clear about the amount we invest, the average price and the current price. In this personal strategy I play a lot with the averages, and the sentiment indicators. Buy similar amounts at fixed intervals. But taking small profits and making strategic purchases on special days. I forget about the opportunities that I am missing if Bitcoin rises more or falls more. My focus is on the gradual growth of my assets in the long term. To invest or not to invest in Bitcoin? The answer is to invest. But invest like a Jedi master.

The views and opinions expressed herein are solely those of the author and do not necessarily reflect Cointelegraph’s views. Every investment and trading move involves risk, you must carry out your own research when making a decision.

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“85% of CVs have some kind of false data”, Lucas Gil COO of EagleCheck

Times have changed forever, and with the COVID-19 pandemic, digital transformation has undoubtedly accelerated in many fields, especially the workplace.

After all, the world must continue to move forward and companies learn to produce under this particular situation. For it, Combating forgery of credentials has become a priority, in order to avoid fraud and scams on the part of some malicious actors who are dedicated to deceive the employer, in order to obtain an attractive vacancy.

One of the most striking ventures in this fight against false resumes, is carried out by EagleCheck, and today we give you a pleasant conversation with its CEO and Co-founder Lucas Gil Cantón, to learn more about his proposal.

1.- Hello Lucas, a pleasure to have you with us at Cointelegraph. Explain us a bit about how your foray into the Blockchain ecosystem was and how the idea of ​​EagleCheck was born.

The pleasure is mine! Delighted to be here. My foray into the Blockchain ecosystem was in early 2017. I first discovered cryptocurrencies and then the whole range of possibilities that Blockchain presents to change the world, and I fell in love. EagleCheck is born from that love. I created a Blockchain Club at my University, and in early 2019 a group of students began to wonder what problems in the educational system we could solve with Blockchain. We hit the alarming 85% fraud on the Resume, and the rest is history.

2.- Describe for us a bit what the platform consists of and how users can benefit from it.

EagleCheck is a decentralized platform that eliminates CV fraud and helps companies doing background checks find data faster and easier. It allows them to automate the verification process, increase their benefits and reduce their waiting times.

It works simple: Companies upload their verifications to EagleCheck so other companies can access them. When other companies do this, the initial verifier receives a profit, generating a new source of income. Participating companies can have instant access to the database where they can find reliable verifications, which they can use to meet the needs of their customers in a fraction of the time and at a much lower cost.

EagleCheck enables a “marketplace” so that companies that run background checks can sell and buy checks that are secured on the blockchain, at a lower price than current data providers, and with the candidate’s explicit consent.

Speaking of the candidate, EagleCheck makes him participate in the process, requiring his consent (a big problem in today’s market) and allowing him to access jobs more quickly thanks to his verified profile.

3.- Explain to us under which Blockchain platform EagleCheck runs and why your particular choice.

EagleCheck uses Blockchain technology from Hyperledger Fabric. When looking for a private network, since we treat sensitive data, we look for solidity and constant support.

– Fabric is developed and maintained by IBM, being Hyperledger’s most advanced and ambitious project.

– The number of complementary tools to Fabric are abundant, both in benchmarking and in scaling and transparency.

– It does not require any type of cryptocurrency for its operation, allowing much more realistic cost estimates.

– The time-to-market is fast and the updates to the system are practically immediate.

4.- I understand that EagleCheck was the winner of the MouseBelt Blockchain Accelerator competition. What other achievements are attributed in his short existence

Yes! MouseBelt’s Universities program, which includes more than 70 institutions, organized a competition to invest in the best Blockchain projects. Our team managed to win, receive funding and entry to the MouseBelt acceleration program, which has allowed us to grow a lot.

Besides that, We have managed to launch our first demo, which has been very well received in the market, and we have managed to connect with a market, that of background checks, in which we had no experience but which has welcomed us with open arms, teaching us a lot and eager to use our product.

5.- With a labor market changing to online mode, and Linkedin firing people, online mode will be essential. How do you see EagleCheck positioned in this new post-pandemic reality?

We believe that the need for portable, verifiable, digital credentials is now more apparent than ever.

We are working with the different actors involved to create an infrastructure that enables faster contracting after the pandemic, and that it generates opportunities for individuals at a global level, regardless of their location or how unknown the institutions where they studied or worked in the past are.

We start with background check companies, but our vision is global and wants to change the way we keep our credentials forever.

6.- How does the platform work on both sides of the business? This is for both users and companies?

The companies are in charge of uploading the information of the candidates to EagleCheck and carrying out the verifications. Only these companies can add and access data. Candidates, who are job applicants, will be able to view your verified data and accept that the information is correct. In the event that there is an error, the user has the possibility to correct it and send it to the companies to carry out the respective verification. For the candidates this service is free.

7.- Is it free to use or must a subscription be paid to access its benefits?

Initially, companies must pay an annual subscription to be able to access our services, both to upload information and to access it.

8.- What should we expect from EagleCheck for the near future?

In the coming months we are going to launch the first version of our product on the American market. We will use feedback from that pilot to make improvements and, in the future, expand to other markets and verticals. Therefore, we will move from working only with companies that verify backgrounds, to working with all types of companies and educational institutions, in order to help all these actors have a better experience with regard to verifications.

We believe that anyone should be able to work around the world, wherever and whenever they want, without their credentials being a problem. And we will work hard to make it happen.

9.- What is your opinion about the future of Blockchain technology in the coming years?

I think Blockchain’s growth is going to be massive. When I started in 2017, you were going to congresses and people were wondering: Will this work? Will someone use it?

Now we are no longer at that point. It is taken for granted. All the big companies are using and investing in Blockchain, and that “Enterprise” sector is bringing a lot of innovation.

The other side, however, is not an understatement. I think mass adoption by citizens will come soon, thanks to innovations like NFTs or the DeFi (Decentralized Finance) ecosystem.

Blockchain is here to stay. So far we have seen a lot of infrastructure, and I believe that when it settles, innovation and the real Blockchain revolution will come. I really believe in the power of this technology to change the world, and I think that soon we will see its great applications on a large scale.

10.- Is the platform available for any region and country in the world, or are they limited to a particular geographic area and target?

The idea of ​​our platform is for it to be an international database, just like the job market is today. In this way, companies that need to verify candidates who have worked or studied in another country will be able to find their credentials very easily. To begin with we are focusing on the largest market, which is the United States. However, we have expansion plans to markets that are growing exponentially such as the United Kingdom, India or LATAM.

11.- In 2012 Scott Thompson, ex-president of PayPal had to leave the position of CEO of Yahoo, after discovering that his CV was bulky. How does EagleCheck combat these types of abuses that are everyday today?

With EagleCheck, these types of situations will disappear. As you say, unfortunately, it is an everyday problem. 85% of CVs have some kind of false data, and around the world there are more than 2,600 companies dedicated to creating false diplomas.

Through our platform, companies dedicated to CV verifications will be able to find in seconds the fully verified educational and work history of any individual who is applying for a job. In this way, if any of the data provided by this person is false, they will immediately notice, cutting the recruiting process and saving the recruiting company thousands of dollars.

This will also prevent dangerous situations. A few months ago, the news broke that a NATO officer, with access to classified military information, had falsified his CV to reach that position. Situations like this shouldn’t be tolerable, and EagleCheck eliminates them forever.

12- Any scoop to share with the Cointelegraph team?

We can’t announce anything yet but we are working on very interesting partnerships. We take this opportunity to appeal to the Spanish-speaking community: Companies, educational institutions, background check companies, individuals, if you want to end CV fraud, we are open to speak with you and explore possibilities. Do not hesitate to contact us.

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Can XRP price follow Bitcoin’s trend and hit $ 0.30? Look at these key levels

The altcoins were crushed on their respective BTC pairs as the Bitcoin (BTC) price decided to break out of the two-month range and hit $ 11,400.

However, some alternative currencies performed relatively well and some of the top 10 cryptocurrencies showed strength as the Bitcoin price was rising. These include EOS (EOS), Litecoin (LTC) and XRP (XRP), which also showed strength when reaching a price level of USD 0.23.

Crypto market daily performance.  Source: Coin360

Daily performance of the crypto market. Source: Coin360

XRP exceeds the 100 and 200 day moving averages

The XRP USDT pair is showing substantial strength as it broke above the $ 0.20 level. In addition to the $ 0.20 level, the XRP price also outperformed the 100-day and 200-day moving averages (MA) and shows signs of bullish momentum.

XRP / USDT 1-day chart.  Source: TradingView

1-day XRP / USDT pair chart. Source: TradingView

The graph above shows a higher minimum clearance, which is essentially one of the pillars of the upward momentum. The price is now making a higher peak as it broke the previous peak at $ 0.22800.

What’s next for XRP?

Mainly as long as you hold the support above the 100 and 200 day MAs, you are in bullish territory, and declines should be considered as possible buying opportunities.

These MAs are required levels as they also include a range of support. This range of support can be found between USD 0.204-0.21. As long as XRP maintains support above this level, it is likely to continue towards the next resistance.

This resistance is between $ 0.265-0.275 and some resistance, if not a rejection, should be expected in this area for XRP.

Will XRP roll back before continuing?

XRP / USDT 4-hour chart.  Source: TradingView

Chart of the 4-hour XRP / USDT pair. Source: TradingView

It is doubtful to see a continuation of the resistance zone at once. Therefore, depending on the smallest deadlines, you are more likely to see corrective movement before continuing further up.

The next levels to observe are those that have not yet been tested. In each up and down movement, levels are tested frequently before continuing. For example, Bitcoin was above $ 10,200, but it is highly likely that it will wait for a correction towards that particular level to confirm if buyers are stepping in.

The situation is similar for XRP, where the $ 0.22250-0.22500 area is the level to watch for possible support bounces.

XRP / BTC pair lags far behind

XRP / BTC 1-day chart.  Source: TradingView

1-day XRP / BTC pair chart. Source: TradingView

The XRP BTC pair has shown massive volatility in the past few days due to the sharp rise in the price of Bitcoin.

However, XRP rebounded as one of the most trusted currencies in the recent move as well, but should more rally be expected for XRP?

The XRP / BTC pair is attacking the 100- and 200-day moving averages (MAs) and appears to be far behind the gains in USDT.

However, once the sats level 0.00002200 breaks down and is held as support (the known change in support resistance), a test of sats 0.00002450-0.00002525 enters the picture. If the 0.00002450-0.00002525 level is broken, the royal party begins, as there is an open road until 0.00003300-0.00003400 sats.

As known in previous articles, the crucial levels are the 100-day and 200-day MAs that need to become support, which will make XRP / BTC bullish.

Will Stellar Lumens follow XRP in these moves?

As XRP shows strength, its brother token Stellar Lumens (XLM) has already seen massive moves in the past few weeks. The XLM price broke the heavy resistance zone at $ 0.08 and is currently consolidating above this level.

XLM / USDT 1-day chart.  Source: TradingView

1-day XLM / USDT pair chart. Source: TradingView

The Stellar Lumens USDT chart shows a clear picture of the crucial levels that can be defined as support and resistance.

The $ 0.08 area acted as resistance for over a year. The accumulation period started as the price could not cross this area. This period can be seen by the volume at the bottom of the price which increased significantly in recent months.

As the Stellar Lumens price surpassed the $ 0.08 resistance level, it is very likely that there will be more increases. However, for such a continuation to occur, the price must confirm the previous resistance level as support.

This was attempted by the recent correction as further consolidation appears to be expected. However, as long as Stellar Lumens maintains the $ 0.08 area for support, the further continuation towards $ 0.14 is within the possibilities.

What are the crucial levels for the XLM / BTC pair?

XLM / BTC 1-day chart.  Source: TradingView

1-day XLM / BTC pair chart. Source: TradingView

The Stellar Lumens BTC pair was destroyed through the volatility of Bitcoin. In consensus, a drop below 0.0000850-0.00000870 sats would be bad for this chart as the price would be breaking in the previous range.

However, the most important levels to maintain are the 100-day and 200-day MA. As long as these hold and the XLM price maintains the 0.00000760 sats price level as support, XLM is likely to continue rising in the coming months.

Setting a support at 0.00000760 sats will create a new higher low. And since Stellar Lumens has just peaked higher at 0.00001100 sats, you are likely to expect a new test and a likely higher high to come.

However, nothing is certain, as volatility returns to Bitcoin (and altcoins generally don’t work well when this happens).

But XRP’s strength is promising for alternative currencies, which would benefit from Bitcoin’s price stability and likely result in a greater overall advantage for many cryptocurrencies.

The views and opinions expressed here are solely those of the Author and do not necessarily reflect Cointelegraph’s views. Every investment and commercial movement involves risk. You must do your own research when making a decision.

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