Silenced by “free speech” | #VentureCanvas

Josh Constine | TechCrunch


 There’s a fundamental incongruency between being pro ‘free speech’ and operating a global social network for civil public discussion. Twitter is struggling with it. Facebook is struggling with it too. And it can’t be solved by a little more transparency or by hoping average citizens will do the right thing. The principle of free speech on which the United States was… Read More

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Source: Silenced by “free speech”

Basecoin Raises Venture Capital Funding | #VentureCanvas

FinSMEs | FinSMEs


Basecoin (a project by Intangible Labs), a developer of a price-stable cryptocurrency, raised a venture capital funding of undisclosed amount. The project is backed by Andreessen Horowitz, Bain Capital Ventures, PolyChain Capital, Pantera Capital, Digital Currency Group, 1confirmation, and MetaStable Capital. Co-founded by Nader Al-Naji, Lawrence Diao and Josh Chen, Basecoin aims to develop a […]

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Source: Basecoin Raises Venture Capital Funding

Teams from over 32 countries attend Ethereum hackathon in Waterloo | #VentureCanvas

Aeman Ansari | Beta Kit


ETHWaterloo hackathon — which calls itself the world’s largest Ethereum hackathon — hosted its inaugural competition this weekend.

The event, run by a volunteer group of hackers and Ethereum enthusiasts, developed what organizers and participants hope will be the future of decentralized technology over 36 hours.

The hackathon brought together 400 attendees from over 32 countries across the world. During the course of the event, hackers were mentored by leaders in the cryptocurrency industry like Joseph Poon, founder of the Lightning Network; Ethereum founder Vitalik Buterin; and Ryan Zurrer, a Partner at Polychain Capital.

On Sunday, at the Centre for International Governance Innovation (CIGI), the top eight teams pitched their projects to their peers and a panel of judges. In the end, the winners were awarded 1,000 tokens of their choice.

The top eight teams selected this year were:

  • Happy ENS, a DNS server able to resolve .eth addresses in any browser, without any third-party plugins
  • Third eye, a platform for developers to audit smart contracts.
  • TrustUs, a simple platform to get started with smart contracts
  • Pocket, a gamification platform created to educate children about the value of currency and developing good saving habits
  • Provt, an application offering an easier way to safely download and verify files on the blockchain
  • Congruence, a tool that allows the exchange of service tokens for healthcare and insurance providers.
  • Rufflet, a tool that provides contract information and shows deeper insights to how methods are being used over a period of time
  • MetaMask Brave Integration: added support for the MetaMask extension into the Brave browser, allowing the Brave browser to run ÐApps

Photo credit Ben Arnon

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Source: Teams from over 32 countries attend Ethereum hackathon in Waterloo

Dutch Bank Complains About How Much Electricity Bitcoin Uses | #VentureCanvas

Jeff Francis | Bitcoinist


Dutch Bank ING released a report complaining about the energy amount that the average Bitcoin transaction consumes.


When it comes to Bitcoin, some people just aren’t happy unless they’re finding something to complain about. The fact that it’s essentially a revolution in finance and individual liberty isn’t important. What is important is what they consider the drawbacks of Bitcoin to be. The most recent example comes from the Dutch bank ING, who just released a report complaining about the high energy cost associated with every Bitcoin transaction.

Dutch Bank ING released a report complaining about the energy amount that the average Bitcoin transaction consumes

Leaving All the Lights On in the House

The report from Dutch bank ING looks at the energy consumption of the average Bitcoin transaction from several angles. On one hand, they note that the use of a tremendous amount of electricity makes fraudulent transactions costly by keeping the verification of trades expensive. This high cost does serve as a deterrent to those who would seek to cause mischief.

ING senior economist Teunis Brosens says:

By making sure that verifying transactions is a costly business, the integrity of the network can be preserved as long as benevolent nodes control a majority of computing power. Together, they will dominate the verification (mining) process. To make the verification (mining) costly, the verification algorithm requires a lot of processing power and thus electricity.

Brosens goes on to discuss how much energy is used in a Bitcoin transaction. He says that it takes 200kWh for every Bitcoin transaction, which is higher than the 37kWh for Ethereum. Of course, this is far higher than the 0.01kWh for a credit card transaction, say Visa. Brosens adds:

This number needs some context. 200kWh is enough to run over 200 washing cycles. In fact, it’s enough to run my entire home over four weeks, which consumes about 45 kWh per week costing €39 of electricity (at current Dutch consumer prices).

Leaving All the Lights On in the House

The Ongoing Energy Debate

A cynical person might note that Brosens may be pointing out the vast energy cost difference between Bitcoin and credit card transactions due to the fact that banks, such as ING, have a vested interest in promoting credit cards over cryptocurrencies. I’m pretty sure banks are not thrilled with the lack of centralized control associated with Bitcoin and other digital currencies.

However, it is true that Bitcoin transactions require a lot of energy, and there are many articles where people really dig into the math. It also appears that the energy consumption is increasing over time, even for the less taxing Ethereum. Yet is such energy consumption the end of the world? Are we doomed to live out our lives in a Mad Max future where we barter for water and precious juice with Bitcoin? While probably pretty cool, the answer is no. The amount of energy produced grows every year as more power plants come online and older plants become more efficient.

This really isn’t a zero-sum game or else the rise of server farms would have ushered in an age of calamity. There’s actually excess energy to be found, such as the case in Russia where power companies are selling off their excess energy to miners at a cheaper rate. In the end, such complaints are just another tirade against Bitcoin as it represents a massive shift from the old status quo and the powers that be are not happy with that.

Do you think Bitcoin transactions consume too much energy? Is the higher consumption worth it to reduce fraud? Let us know in the comments below.


Images courtesy of Wikimedia Commons and PxHere

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Source: Dutch Bank Complains About How Much Electricity Bitcoin Uses

Ron Suber: We are in the Golden Age of Fintech | #VentureCanvas

JD Alois | Crowdfund Insider


  Ron Suber has become one of the most recognizable voices in the global Fintech arena. Since officially departing the Fintech he helped to create, the former President of Prosper Marketplace has become an elder statesman for online lending and financial innovation in general. An… Read More

The post Ron Suber: We are in the Golden Age of Fintech appeared first on Crowdfund Insider.

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Source: Ron Suber: We are in the Golden Age of Fintech

The end of oversharing | #VentureCanvas

John Biggs | TechCrunch


 The early 2000s were the era of user-generated content. Companies like Associated Content and Shareasale rewarded content producers richly – one friend of mine made millions on YouTube in 2004 because he was one of the few serial content producers on the platform. The future was going to be broadcast in all of its gritty glory. Bloggers would win forever and ever. The voices of the… Read More

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Source: The end of oversharing

TreasuryXpress Receives $5M Major Growth Funding | #VentureCanvas

FinSMEs | FinSMEs


TreasuryXpress, a San Diego, CA-based provider of on-demand treasury management solutions (TMS), closed a $5m growth investment. Backers included MEVP, iSME Capital, and Azure Fund. The company intends to use the funds to continue to expand their on-demand business model into key markets with treasury-friendly fintech solutions. Led by Anis Rahal, CEO and founder, TreasuryXpress […]

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Source: TreasuryXpress Receives $5M Major Growth Funding

City of Boston Forms New Partnership with Crowdfunding Platform iFundWomen | #VentureCanvas

Samantha Hurst | Crowdfund Insider


Just a couple months after iFundWomen announced its expansion into Maryland, the City of Boston revealed on Monday it is teaming up with the crowdfunding platform women. As previously reported, iFundWomen is on a mission to help drive funding towards female entrepreneurs and close the gender… Read More

The post City of Boston Forms New Partnership with Crowdfunding Platform iFundWomen appeared first on Crowdfund Insider.

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Source: City of Boston Forms New Partnership with Crowdfunding Platform iFundWomen

Bain Capital, Andreessen Horowitz confirm investment in new crypto-currency: Reuters | #VentureCanvas

Reuters News | PE Hub – VC (US)


Bain Capital Ventures and Andreessen Horowitz have participated in the pre-sale of a new crypto-currency called basecoin, the companies have confirmed.

Basecoin will be created by three Princeton University computer science graduates, according to Intangible Labs chief executive officer and co-founder Nader Al-Naji on Friday.

Intangible Labs is the creator of basecoin. It’s one of many blockchain start-ups creating and distributing tokens to investors to raise funds for their projects. Start-ups typically hold a token pre-sale to institutional investors before opening the token offering to the public.

Aside from Al-Naji, the other founders of Intangible Labs are Lawrence Diao and Josh Chen.

Bain Capital and Andreessen Horowitz confirmed their investment in basecoin in an email to Reuters late on Friday. Digital Currency Group also confirmed its participation in the basecoin presale.

The other investors who invested in basecoin were Pantera Capital, AngelList CEO Naval Ravikant, PolyChain Capital, 1confirmation, and MetaStable Capital, Al-Naji said.

Those investors were not immediately available to comment.

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Source: Bain Capital, Andreessen Horowitz confirm investment in new crypto-currency: Reuters

Airbnb eyes expansion with affiliate program for sites with 1M+ users, new API | #VentureCanvas

Ingrid Lunden | TechCrunch


 While Expedia and Priceline roll out ways to encroach on Airbnb’s space with their own private home listings for travellers, the $31 billion venture-backed Airbnb is also looking at new ways to boost its own traffic and bookings. Airbnb is now rolling out a new call for affiliate partners, where high-traffic sites with over 1 million visitors can embed Airbnb property listings and… Read More

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Source: Airbnb eyes expansion with affiliate program for sites with 1M+ users, new API

This NYC Startup Just Raised $7.5M to Ensure Diversity in Hiring | #VentureCanvas

AlleyWatch | AlleyWatch


Diverse teams outperform non diverse ones by 35%.  African Americans are 16% less likely to get invited to job interviews.   The largest search engine in the world only employees only 1% African American in its tech staff and only 2% of that tech staff is Hispanic. Yet, 57% of employees think their companies should be […]

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Source: This NYC Startup Just Raised $7.5M to Ensure Diversity in Hiring

E-Sports – Will EHT be the New Universal Currency for Gamers? | #VentureCanvas

Bitcoin PR Buzz | Bitcoinist


In recent years, the rise of technology within the gaming sector has revolutionized the way users participate in games as well as the way they share content. This, in turn, has created the industry and online gaming community known as e-Sports.

[Note: This is a press release.]


E-Sports has been named one of the fastest growing industries, pulling in viewers of over 354 million during the League of Legends Worlds, as reported by Slingshot. Twitch, an industry giant, reports over 100 million unique users a per month as well as 10 million daily active users. (DMR 2017).

E-Sports encapsulates licensed betting from companies like Bet365, who have over 22 million users worldwide. This shows the scope of the industry, especially when you consider that during 2016, the global volume for betting exceeded 5 billion euros. With the evolution of gaming and its ever-expanding community, there is a clear need for a universal currency, which allows users to engage in transactions while giving back to the consumers. EHT has been proposed as this new currency via the application of blockchain technology.

Chief e-Sports officer and co-founder Benjamin Föckersperger said:

Never has there been a platform where gamers and fans can share, curate and enjoy cool content together, or even participate in and contribute to e-Sports events. There will be a shop for your favourite e-Sports team’s merchandise as well as hardware, chairs, coaching lessons, or betting on your favourite team. You decide which offers you want to participate in and which you don’t like. All our users can participate in creating content for those areas by writing guides or producing videos. They get paid in ERT for their contribution which can be cashed out from ERT to FIAT (i.e. traditional currency) through several exchanges or our site at the current value of ERT for that day and time.

EHT is based on Ethereum and will specifically target the e-Sports community. The platform will provide a singular service that incorporates and builds a one-stop service for Games, Licensed Betting, and e-Sports Physical Training Universities. From a market perspective, this will build long-term interest organically, perhaps even surpassing the classical sports market in the not-too-distant future.

Upon reaching a 20-million-euro funding milestone, the company will open a physical e-Sports center in Berlin. Any user may apply online for challenges held at the center, and possibly qualify to become a pro player in one of the specialist games. This will educate younger gamers and prepare them for the industry as well as participants in tournaments around the world and professional gaming.

The tokens will be on pre-release from the 1st November to the 30th November. Out of the overall 60,000,000 tokens deployed 40% will be released during the pre-ICO phase at a price of €0.79. Tokens purchased after this period will at the standard rate of €1.09.

Find out more at http://esports.com/

Media Contact

Contact Name: Marcel Thiess
Contact Email: marcel@anchor-point-marketing.com
Phone: +4917624708551
Location: Malta

Esports.com is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.


Images courtesy of eSports.com

The post E-Sports – Will EHT be the New Universal Currency for Gamers? appeared first on Bitcoinist.com.

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Source: E-Sports – Will EHT be the New Universal Currency for Gamers?

MIT’s The Engine wants to fuel bold tech ideas in Boston | #VentureCanvas

Ron Miller | TechCrunch


 Boston and its surrounding universities are jam-packed with big ideas, but the problem is that many of them never get out of the lab. MIT president Rafael Reif recognized this and decided the city needed an engine to push those ideas and The Engine — part venture capital firm, part business incubator — was born. When smart people are working on hard problems inside a lab, they… Read More

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Source: MIT’s The Engine wants to fuel bold tech ideas in Boston

MIT’s The Engine wants to fuel bold tech ideas in Boston | #VentureCanvas

Ron Miller | TechCrunch Startups


 Boston and its surrounding universities are jam-packed with big ideas, but the problem is that many of them never get out of the lab. MIT president Rafael Reif recognized this and decided the city needed an engine to push those ideas and The Engine — part venture capital firm, part business incubator — was born. When smart people are working on hard problems inside a lab, they… Read More

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Source: MIT’s The Engine wants to fuel bold tech ideas in Boston

7 huge business storylines for this quarter’s earnings season | #VentureCanvas

Matthew Lynley | TechCrunch


 It’s that time of the year again: Earnings season. It’s a finance nerd’s dream, but for the rest of the world, it’s important because some of the biggest technology companies in the world spill their guts to the public. We get to see who’s winning, who’s losing, what’s going wrong and how much Twitter’s monthly active user count dropped. In… Read More

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Source: 7 huge business storylines for this quarter’s earnings season

Gov’t nixes proposed tax change targeting capital gains, will restrict income sprinkling | #VentureCanvas

Jessica Galang | Beta Kit


The federal government is cutting the small business tax rate from 10.5 percent to nine percent by 2019, and confirmed that it is not moving forward with at least one of its three proposed tax changes affecting entrepreneurs.

The announcement was made at a press conference with Prime Minister Justin Trudeau, Finance Minister Bill Morneau, and Minister of Small Business and Tourism in Stouffville, ON. According to the CBC, the government will not be moving forward with its proposal to limit access to the lifetime capital gains exemption, noting “potential unintended consequences associated with the proposed measures.”

However, the Liberals said they still plan to restrict income sprinkling by January 1, which allows business owners to transfer income to a child or spouse who would be taxed at a lower rate.

In an op-ed on BetaKit, entrepreneur Bruce Croxon said that this will affect partners supporting the business by “holding the home front” while entrepreneurs build the company. Family members that don’t contribute to the business will not be eligible for income sprinkling, though the government has not been specific in how that will be determined.

“It’s not the people who are the problem, it’s the system,” Trudeau said.

The third proposed tax change called for limits on private companies making passive investments unrelated to the company, which would curb the ability of business owners to convert regular income of a corporation into capital gains, which are typically taxed at a lower rate.

Liberal backbenchers who were also among critics of the changes were briefed this morning. Morneau has already said that the proposals could see adjustments.

“I feel very, very positive. For the first time in a couple months, I’ve got a bit of a smile on my face,” said Saint John MP Wayne Long. Long was kicked off two Commons committees for voting against the government earlier this month on a Conservative motion calling for further consultations on the proposed reforms.

Photo via CTV News

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Source: Gov’t nixes proposed tax change targeting capital gains, will restrict income sprinkling

Minecraft now lets you export your creations in 3D — but only on Windows 10 | #VentureCanvas

Devin Coldewey | TechCrunch


 Minecraft players will now be able to easily save their in-game creations as 3D models. A new update adds the capability, but it’s among the few features that can only be enjoyed by players on the Windows 10 edition of the game. Read More

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Source: Minecraft now lets you export your creations in 3D — but only on Windows 10

Google Photos gets more pet-friendly | #VentureCanvas

Sarah Perez | TechCrunch


walking the dog If you’re a pet owner who uses Google Photos, you’ve probably typed in “dog” or “cat” before in order to surface photos of your furry pal – like anytime someone asks you about your pet, for example, which clearly means they would like to see a picture of Mr. Fluffypants. Today, Google is introducing an easier way to aggregate your pet photos in its… Read More

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Source: Google Photos gets more pet-friendly

Short-Term P2P Lender Welendus Receives Full FCA Approval | #VentureCanvas

Samantha Hurst | Crowdfund Insider


Last week, short-term peer-to-peer lending platform Welendus announced it has received full Financial Conduct Authority (FCA) Approval. The company revealed on LinkedIn last week the exciting news: “We are pleased to announce that Welendus (PTP Funding Limited) is now authorised and regulated by the FCA… Read More

The post Short-Term P2P Lender Welendus Receives Full FCA Approval appeared first on Crowdfund Insider.

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Source: Short-Term P2P Lender Welendus Receives Full FCA Approval

The HOLD 10 Index is a passively managed fund of the top 10 cryptocurrencies | #VentureCanvas

Fitz Tepper | TechCrunch Startups


 This year the market capitalization of all cryptocurrencies has grown from about $13 billion to well over $150 billion, fueled by infusions of capital from all different types of investors. But irregardless of this extreme growth, it’s still very complicated for most people to invest in cryptocurrency. So one startup is launching a private index fund designed to let you passively hold… Read More

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Source: The HOLD 10 Index is a passively managed fund of the top 10 cryptocurrencies

Appian The World’s First Ethereum App Store Launches ICO Oct. 16 UTC 00:00 | #VentureCanvas

Bitcoinist.net | Bitcoinist


The highly anticipated Appian ICO has been set to launch on Monday, October 16, 2017. The Appian team is building a revolutionary app store on top of the Ethereum blockchain. App stores have traditionally been centralized, like the Apple App Store or Google Play. Appian is completely changing that.

[Note: This is a press release.]


Appian

Appian gives freedom to users and developers. Anyone can develop for the app store. Anyone can leave feedback for apps. Great apps with great feedback will be featured on Appian’s Dapp store. Developers can take feedback and make their app even better. Appian also gives users a unique way to earn APP tokens by helping developers improve their app. Users will be awarded tokens based on how well developers rate their feedback. Best of all, these rewards will be given from Appian to save developers R&D costs.

In order to make this all possible, the Appian team has designed an Appian token (APP) for use on the Appian platform. APP tokens will be used to buy apps on the Ethereum App Store. These tokens are distributed only for three weeks during the ICO.

For more details, the Appian whitepaper explains the vision behind Appian.

Only for this week: crowdsale participants will receive a 20% bonus tokens for their contributions. This ICO will only last 3 weeks. After the limited time crowdsale, no tokens will ever be created again. In the interest of APP token holders, the supply of APP tokens will be capped at 4.5 million. Only contributions in Ether are accepted. The current rate for APP tokens is 1 ETH=360 APP.

For more information about Appian please visit http://appian.io.


Images courtesy of Appian

The post Appian The World’s First Ethereum App Store Launches ICO Oct. 16 UTC 00:00 appeared first on Bitcoinist.com.

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Source: Appian The World’s First Ethereum App Store Launches ICO Oct. 16 UTC 00:00

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