Walmart has just filed a patent for a unique electrical grid. This is not your typical electrical grid. This is a grid which will be powered by cryptocurrency.
The purpose of the crypto grid is to better manage the consumption of energy and offer a transparency which is only possible due to the blockchain. Devices on the network will have a specific allotment to purchase energy with cryptocurrency. Devices on the network may share funds so that other devices have the required amount of cryptocurrency for the power needed.
Walmart filed the patent in the last months of 2017. The decentralization of the energy sector would be a tremendous feat if Walmart can achieve it. Walmart has been quite aggressive in filing patents pertaining to new blockchain technology. One of the patents is called a “Smart Package Patent” which would record a customer’s purchases. Walmart has also explored putting food on the blockchain to keep track of consumption and improve safety in cases of food recalls. Instead of a recall taking days to enact, blockchain technology could accomplish this in a matter of hours.
We are bound to see more applications for the blockchain technology as big business enters the cryptocurrency market.
What is the future of the Steem Backed Dollar (SBD)? During the early days of Steemit, the SBD was supposed to be pegged to the dollar. As a result the Steem Backed Dollar was often used as a port in the storm of a very volatile cryptocurrency market.
As a bear market approached, many investors would invest in SBD in order to stay in crypto, but at the same time enjoy a safe haven from the otherwise volatile market. As these investore grew in number we watched SBD hit unprecedented highs. The Steem Backed Dollar reached a high of almost $20 at one point. While this may seem like a good thing, this made SBD just another volatile cryptocurrency.
We have now seen SBD correct to lower levels, but will it last? More importantly, is it better for the price of Steem for the Steem backed dollar to remain low? This question seems to depend on whom you are asking. We are even seeing some discussion of getting rid of SBD altogether.
Steemit has enjoyed tremendous growth during the last year so it is only natural for Steem and SBD to undergo some changes.
Openledger has announced a reimbursement program for members who were victims of phishing attacks resulting from the hack of the Openledger.io domain. The DEX was not hacked, but Openledger briefly lost control of their domain which was registered through GoDaddy. Open ledger users who may have logged into their account using this domain were open to possible phishing attacks.
Some users inadvertently exposed there passwords and keys to the hackers. The blockchain itself was not hacked and remained secure. Openledger has since upgraded the SSL certificate to the highest and most secure class available.
In order to participate in the reimbursement program, users need to create a ticket. Make sure you put “My account was compromised” in the subject line. Openledger will take each case individually and investigate each loss.
While the hacking was somewhat disconcerting, I think we should be encouraged by the fact that the part of the exchange which was hacked was only the centralized domain. The decentralized exchange and all blockchain related activity remained secure. I think Openledger’s effort to reimburse victims of this attack speaks well of the Openledger community as a whole.
As interest in cryptocurrency has grown investors are increasingly looking for a safe way to invest in the rather unpredictable market of cryptocurrency coins. Coinbase has recently launched a cryptocurrency index.
At the moment the index includes Ethereum, Bitcoin, Bitcoin cash, and litecoin. Coinbase has just added Ethereum Classic to their platform, so this will also be added to the index fund.
The fund will most likely attract institutional money which heretofore has been lacking in the cryptocurrency market. Many think the introduction of institutional money to the market will cause the market to explode. The index introduced by Coinbase requires a minimum investment of $250,000. The maximum investment is twenty million dollars. Coinbase will charge a 2 percent fee.
As exchanges add the ability to buy crypto with fiat, Coinbase will be less important as an introduction to Bitcoin and other coins. Coinbase plans to offer more banking services in the future. The index fund is the first of many innovations at Coinbase.
ONO is the new social network which will be operating on EOS. This network will be similar to Steemit, but will also have some differences. ONO seems to be all about community. A strong bond seems to exist among the ONO volunteers. If you visit the telegram channel you will find everyone coming together to create logos and videos to promote ONO. Their excitement is quite contagious.
The founder, Ke Xu seems to be very open to innovation. She has done so much as such a young age. Four years ago she lauched ERA, a social networking app. She also created a blockchain based game called Crypto Dogs, which was very popular in China.
Until now ONO has been only available in China. The site was invitation only and was so popular that the invitations were selling on the black market for up to $400. ONO is set to expand into the US market. The sign up is invitation only, but you can request an invitation here.
Once you have acquired some Steem, you will probably do like most people on Steemit and power up with Steem power.
Your Steem power is what determines the value of your vote on Steemit. For the first year of Steemit, most people with Steem power used it to vote up content on Steemit.
Once Steem power delegation became available, more Steemit users began to delegate their Steem power to various new Steem platforms and services like voting bots. You can delegate your Steem power and earn a return on your delegation. The return on your investment will vary depending on which project you are delegating to. In essence, you are only loaning your Steem power out for a return, but the Steem is still in your possession.
The delegation button may be found in the Wallet section of your Steem account. Once you delegate Steempower, you will see a record of the amount of the delegation. The amount with the minus sign indicates the delegation amount. One of the best things about delegating power is that you may cancel the delegation at any time. Your Steem power will take 1 week to be released back to your own account. Delegation allows you to engage and support many of the Steem platforms and projects without making a long term commitment. You may also delegate to more than one project at a time.
The returns for delegating can be quite lucrative. Delegation is a great way to grow your Steem power while exploring the many platforms of Steemit.
Santander Bank has launched OnePay FX, the first blockchain banking payments app. The app is the first of it’s kind used by a major bank and will be powered by Ripple. The payment app will be available in just 4 countries for the next few months. The payments app will be featured in the UK, Spain, Poland, and Brazil with plans to expand in the near future.
Some of the benefits of the new Smartphone app include easy cross border payments, quick confirmations, and low cost fees. Even cross border transaction will be instantly available with very low fees. Many crypto enthusiast are not fans of Ripple. The fact that Ripple has been called the “banks crypto” may be seen as a plus or a minus. Most crypto investors do not see Ripple as a decentralized currency due to the influence of the banks. “If a bank can control your crypto, what’s the point?” is a common refrain. Another point of view is that the partnerships with multiple banks will give Ripple a distribution edge which will make it a top cryptocurrency.
Deutsche bank and Allianz have partnered with car exchange Auto1 to implement blockchain technology in the auto financing industry. The new company is called Auto1 Fintech. The company will offer financing for car loans as well as insurance products.
The transactions concerning financing will all be recorded using the blockchain. The blockchain technology offers complete transparency for all transactions. Financial transactions using blockchain technology will also enable the car dealers to act more quickly on services like refinancing and loan approvals. Transactions which would normally take a few weeks are an instant process using the new technology.
Blockchain technology has the potential to almost eliminate all back office expenses. The financial industry is just one of many businesses which will benefit from the advancements made possible by blockchain technology. Any business requiring record keeping will be completely transformed by this new technology. Hospitals, where accurate record keeping is imperative, stand to benefit the most.
During the “old Days” of Steemit.com, posting on Steemit was much simpler. We really didn’t have that many options. You wrote a post and shared it in the hopes that someone would vote you up. You voted until your voting power was too low and interacted as much as possible with your fellow Steemit posters. This was barely 2 years ago and we have seen dramatic changes. Obviously the price has increased considerably which makes it more beneficial to post. The use of bots has skyrocketed and the interaction has diminished somewhat.
First of all, so many people are delegating their Steempower to either bots or new Steem projects. We also have a multitude of platforms to post on and enjoy.
A typical day might include posting a video on Dtube, updating your podcast on dsound, and searching for the coolest products on Steemhunt. You may share a meme with your followers on Dmania and livestream a video game on Dlive. You can share a few thoughts on Zappl, add a photo to Steepshot, and write a quick post on Busy. You may need to check out the latest development updates on Utopia as well.
To relax, you might try to win a little Steem by playing the Steem based Super Eight Ball on your Android device and then share the results using your Esteem app.
After you’ve completed all of these activities, you need to share them on your Blog which uses Steempress to automatically post to Steemit from your WordPress blog.
I share this imaginary day to make the point of “Wow, look how much we have grown!” When you take the time to explore all of the new decentralized apps on the Steem blockchain, the sheer number of available activities based on Steem is quite astounding.
I’m certain I have left some new platforms out, so please add them in the comments. In short, in spite of many ups and downs, We have come a long way! This is just the beginning.
Binance, one of the most popular Cryptocurrency exchanges in the world, has plans to enable their customers to buy Cryptocurrency directly with fiat currency. The complicated process of buying cryptocurrency has been an obstacle for many potential investors. Instead of buying a currency like Steem directly, one must purchase Bitcoin or Ethereum first through companies like Coinbase. Once the Bitcoin is purchased, it must then be moved to an exchange to buy Steem or whatever cryptocurrency is desired. Throughout the entire process, the customer is paying fees and experiencing long delays before they can even begin to purchase the coin they are interested in. Recent moves by Binance may change this entire process.
Binance has moved their operations to Malta which is fast becoming one of the most “Crypto friendly” regions in the world. Originally headquartered in Hong Kong, Binance had major concerns over the often unpredictable regulations imposed on Bitcoin and the cryptocurrency markets by China.
Binance is working with local banks in Malta to set up fiat to crypto trading pairs. This action will enable investors to buy cryptocurrency directly with US dollars or Euros without having to go through Bitcoin first. The ability to buy directly with fiat is sure to bring in many investors as the entire process will be so much easier.
This development will be a welcome change to many who have experienced less than stellar treatment from the banking establishment. Early 2018 saw many banks ban credit card purchases of cryptocurrency. Some banks even imposed significant fees for debit card transactions as well. Coinbase also had a problem with merchant services double charging customers for many transactions.
The ability to buy cryptocurrency with fiat dollars and Euros will completely change the landscape of cryptocurrency investing. Get ready, Crypto is going mainstream whether the banks like it or not.