EDITORIAL THE FUTURE OF BLOCKCHAIN
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here are more than 28 million blockchain wallets being used around the world. That is more than a 800% increase from 2015. So why is a great number of people adopting blockchain? Banks have been around for many years, and people always relayed on them to do any type of monetary transaction that was not a physical. Not only are people relying on them to do their job right, but also paying multiple fees for the service. One had to adhere to their rules, their times, and blindly trust their processes. So, what if they made a mistake? Would one know? Can one be sure that the funds arrived safely if one has no contact with the recipient? Not really. Banks won’t share any information about their process that they don’t want to share. They have all the power over your money, and more importantly, all the power over information. With blockchain technology, one can have complete transparency and know that not only one entity with a certain set of goals (focused mainly on making the bank more money) has the control. Instead, it is a group of individuals doing transactions for the sole reason of doing them to get their reward. Transparency, making sure everything goes well, and providing accurate information, benefits the overall consumer giving them back the power. While a bank can take days to process transactions, blockchain can take only seconds to hours, depending on the blockchain being used. Also, the information is encrypted which is pretty much impossible for someone to alter the transaction. In addition, new technologies are coming out in the way that it is now possible to send several payments (thousands even) through a single transaction. This could mean: payroll made easy and fast. As with any technology and financial transactions, there are many risks that come with it. Nevertheless, blockchain technology presents a new way to transact. It is up to the consumer to decide if it is better for them. Since blockchain works in a non-centralized way, several entities will verify the transaction. Their interests are more pure, since verifying the transaction means being able to use that block of information to work on and make money. Distributing the ledger among multiple parties means a healthy competition. People are eager to work the blockchain because of the reward that comes with it. Blockchain does require an investment because it means you have to do a complete change of technology. Moreover, you also have to change your data management mindset to a blockchain mentality mindset. What was only achievable through banks is now open to anybody. Less fees to process, means more money to invest, therefore a growth in economy. More public information and more independent parties involved means more supervision, therefore more safety. Blockchain is taking the money out of banks, in a way, and distributing in back to the thousands of businesses that are trusting this technology so they can reinvest creating diversity and growth to individual businesses.
CONTENIDO VISIONARIES Renato Rodriguez
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TECHNOLOGY Tech you should be familiar with to stay ahead of the curve
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TECHNOLOGY
TECHNOLOGY
Blockchain and the law
The History of Blockchain
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TECHNOLOGY The airlines of the future
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CRIPTOMUNDO Master Councils
TECHNOLOGY
CRYPTOWORLD Cryptocurrency: 10 years of history
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TECHNOLOGY
The start of a new relationship: cryptocurrency and banking
Cybersecurity: Worldwide Standards
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CRYPTOWORLD Altcoins, 200,000 different options
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CRYPTOWORLD Traxalt – The new proposal for the cryptoworld
CRYPTOWORLD Traxalt arrives to Motorbike BP
TRAVELS How to survive a long flight
VISIONARIES Gutemberg Dos Santos
GOURMET Culinary Excellence
SPORTS The new form of interaction in sports
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CRYPTOWORLD Smart Contracts: are they the key to say goodbye to scams?
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CRYPTOWORLD Book your hotel with cryptocurrency
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GOURMET
Top 5: The most expensive meals in the world
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LUXURY The seven most luxurious airlines in the world
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SPORTS New ways to support athletes
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CRYPTOWORLD Cryptoeconomy glossary
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CRIPTOWORLD
Malta: Cryptocurrency heaven
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Stars in Singapore
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SPORTS
What you should know of Formula Racing
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CRIPTOWORLD
Celebrities seduced
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TRAVELS
Discover Singapore: Smart and Diverse
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Pietro Estrellas Michellin enFittipaldi, Singapur overcoming the worst fear
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JBlockchain ® Año 1 No.3 junio 2019. Es una publicación editada por Editorial World Class S.A. de C.V. Av. Coyoacán 329, Col. Del Valle, Del. Benito Juárez, CDMX C.P. 03100 Tel. (55) 5131 3969 Editor responsable: Daniel Pérez Alamillo. Registro en trámite ante el Instituto Nacional del Derecho de Autor Solicitud de Título Publicaciones y Revistas Ilustradas de la Secretaría de Gobernación. Blockchain no se hace responsable por los servicios, promociones, productos, marcas, logotipos y contenido editorial mostrados en ésta publicación; ni comparte la filosofía de éstos. Esta publicacíon se reserva el derecho de no aceptar en sus páginas la inclusión de avisos o anuncios y cualquier tipo de mención comercial que vaya en contra de los intereses de la propia revista o de terceros. Las publicaciones expresadas por los autores y/o los colaboradores de esta publicación, no reflejan la postura de la casa editorial, por lo que los primeros asumen la responsabilidad que llegara a repercutir al respecto. Esta revista considera sus fuentes como confiables y verifica los datos que aparecen en su contenido en medida de lo posible; sin embargo, puede haber errores o variantes en exactitud y contenido de los mismos, por lo que los lectores utilizan esta información bajo su propia responsabilidad. Toda inversión y oportunidad de negocio tiene un riesgo inherente, por lo que es necesario que toda persona, antes de llevar a cabo cualquier inversión, consulte previamente un abogado y/o contador debidamente certificado, pues esta revista se constituye única y exclusivamente como de apoyo. Revista Blockchain ® y/o Editorial World Class S.A. de C.V. no promueve ni organiza ninguna oportunidad de inversión o de negocio en especifico, ni ofrece asesoría legal o financiera de cualquier índole, ya que los tema tratado es de carácter general, razón por la que la revista como tal, sus editores; casa editorial, empleados, colaboradores o asesores no asumen responsabilidad alguna por el uso del contenido editorial.
TECHNOLOGY
BLOCKCHAIN HISTORY In just a decade, this technology has revolutionized many industries, but it’s journey began a lot sooner than you think
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It has been 10 years since blockchain technology was introduced to the public. Currently, blockchain has evolved and grown bigger and better than was ever expected from the first users and creators.
How did blockchain evolve to what it is today? 1991
Stuart Haber y W. Scott Stornetta trabajan en un método digital de sello de tiempo para coleccionar documentos en una cadena de bloques segura y que nadie puede alterar o cambiar.
2004
Stuart Haber and W. Scott Stornetta work on a time-stamping method to digitally collect documents in a secure chain of blocks that no one can tamper or change 6
2008
“Bitcoin: a peer-to-peer electronic cash system” is published online. This document outlines how to build a digital currency that is secure, transparent and does not use a bank or middle-man. This document is written by Satoshi Nakamoto, a name which is believed to be a pseudonym.
2009
Bitcoin is launched by Satoshi as an alternative to current financial systems. Blockchain attracts interest because it solves the problem of trust by recording important information in a public space that doesn’t allow anyone to change or remove it. Bitcoin is the first application of blockchain technology.
2010
The world’s first cryptocurrency exchange is set up: Bitcoin Market. The first real world payment with Bitcoins is completed to buy 2 pizzas.
2011
The price of 1 Bitcoin reaches $1 creating more interest while Satoshi releases the maintenance of the Bitcoin code. The term ‘blockchain’ starts to appear on Google searches. Bitcoin’s open source (public code) impulses the creation of other cryptocurrencies.
2012
The blockchain technology of Bitcoin is believed to have other applications. At this time, groups start to research and develop more uses for it.
2013
Vitalik Buterin starts to develop a blockchain technology that includes smart contracts in its programming. This is the beginning of Ethereum.
In 2010, the first real payment was made with Bitcoin, they were bought two pizzas
2014
Blockchain and Bitcoin separate propelling new uses of blockchain in other markets. There is an increase of investment to discovery how block-
chain could impact supply chains, healthcare, insurance, transportation, voting, contract management, and more.
2016
IBM starts offering BaaS (blockchainas-a-service) to businesses. Google, Amazon, and Microsoft start testing blockchain services with clients
2017
Bitcoin is recognized as legal currency in Japan. Bitcoin Cash is launched as a faster alternative to Bitcoin. Bitcoin’s price reaches its highest price of almost $20,000 to then fall less than half of its price a month later.
2018
Switzerland and the state of Arizona accept taxes in Bitcoin. Walmart runs a trial to track and verify the source of food on the blockchain. Santander becomes the first UK bank to use blockchain technology. Consensus reaches 4,000 attendees. This is the world’s biggest annual blockchain conference. Blockchain technology is still in its infancy, but it promises to revolutionize the digital industry and countless other markets. Although cryptocurrencies have monopolized blockchain for the most part, there are multiple other applications that will improve the way we do things. 7
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BLOCKCHAIN AND THE LAW Some of the traditional functions of lawyers have become obsolete as a result of blockchain technology, however, new roles and opportunities have risen for them to offer
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lockchain and distributed ledger technologies will change the landscape for various industries including the law. The blockchain ecosystem tries to build a decentralized, disintermediated, and distributed technology; however, it must be taken into consideration the challenges and opportunities of a blockchain-based future in the broad context of the current institutional, legal, political, economic, social, and cultural frameworks. Lawyers can have a significant impact on shaping how this technology interacts with traditional society.
Technology
Blockchains are disintermediated and transnational networks, often relying on open-source software protocols. They are resilient and tamper-resistant and due to their distributed nature, the consensus mechanisms employed, and the use of hashing. Blockchains are transparent—in the sense that transaction data is authenticated and visible—and the data they contain is non-repudiable (due to the use of public-private key cryptography). 9
TECHNOLOGY Blockchains are characterized by pseudonymity, as they allow transacting parties to participate in the system without disclosing their identity. Blockchains have particular incentives and cost structures, e.g. block rewards and mining fees that incentivize and compensate parties maintaining a blockchain-based network. One of blockchain’s unique characteristic is the deployment of consensus mechanisms to coordinate social activity towards an agreement on the state of affairs within the system. Blockchains may facilitate the execution of software code that is entirely independent of any party. Some blockchain architectural features are designed to enable the evasion of effective regulation and law enforcement.
Finance and Contracts A. Digital Currencies and Payment Systems
Blockchain technology could improve payment and remittance systems. Anti-money laundering (AML) laws, which impose monitoring obligations regarding financial transactions, often coupled with Know Your Client (KYC) lawsand reporting requirements are inconsistent with the pseudonymous blockchain protocols. As blockchain technologies seek to anonymize transactions, the law seeks to further identify parties to a transaction.
B. Smart Contracts
Smart contracts enforce obligations through autonomous code, i.e. strict and formal programming language, wherein code is executed in a distributed manner by the nodes in the underlying network. Smart contracts are more difficult to terminate than legal agreements. Unless, such termination option is properly coded into the software. Lawyers, then, must be aware of conditions built into software code and advise their clients accordingly. 10
C. Smart Securities and Derivatives
Securities and derivatives will inevitably be consumed by blockchain technology. Current settlement and clearance processes suffer from operational failures including time to settlement, counter-party risk and— for derivatives in particular—lack of transparency. In light of the 20072008 financial crisis and its known link to the emergence of Bitcoin, there is a powerful intuition that finance is a prime field for blockchain to flourish. The advent and eventual mass
adoption of blockchain have reduced/ eliminated the need for intermediaries and middlemen in transactions. This, coupled with the evolution of smart contracts, has led many to believe that lawyers are no longer needed in peer-to-peer transactions. Although a few of the traditional roles of lawyers are becoming obsolete as a result of blockchain technologies. However, the technology has given birth to new roles and created opportunities for lawyers to deliver differentiated, higher-quality services to clients.
VISIONARIES
RENATO RODRÍGUEZ In 2004, he started his first business, investing in a truck to move merchandise in the United States. Today, he is the owner of nine different companies that allow him to t each others about what he considers the best way to reach financial independence: cryptocurrency.
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enato Rodríguez is an entrepreneur dedicated to educating people about investment, specializing in crypto economy. Among his top interests are technological development, economic innovation, and math. He currently owns nine different enterprises focusing on diverse industries. Rodríguez was born and raised in Guatemala. During his last high school years, he took a course on software development that made him discover his passion on the subject. He even developed a receipt software for a food store himself. This software calculated the item price including taxes and printed the receipt for the store. In 2002, he moved to the United States where he began studying software engineering. However, he soon realized that he was more interested in the area of economics. Thus, Rodriguez changed his university focus and graduated in economics. Meanwhile, he did not forget his interest in mathematics and development and continued his independent study. In 2004, Rodríguez started his first company. He invested in a truck and began transporting merchandise within the United States. He went directly 11
to the ports looking for clients and managed to get the MAERSK account as one of his most important clients. In a short time, he hired a driver and began to expand the company. Overall, he managed it during nine years in which they acquired 29 clients that generated between 1 to 10 containers per week each. At the same time, Renato gets involved in a multi-level company. At first, he did not spend much time in the industry. But over time, he began to discover how personal relationships can generate a strong organization and a harmonious environment in which everyone wins, and he saw potential in that. Therefore, Renato searched for a partner for the transport company and began to focus on multilevel. This led him to achieve unimaginable goals including forming an organization of over 75,000 people under his leadership, making 1.6 million dollars. In 2012, Renato manages to sell his transport company and creates a new mobile phone company in Guatemala. Today, it is the largest lowend mobile phone company in Guatemala. Soon, Renato discovered that even though the Bitcoin movement was on the rise, very few people understood the concept. That is why one of his goals is to educate people on the subject so they can use it to improve their lives. Under this concept, he starts a multilevel company where that soon obtains 4 million members with more than 12 million memberships sold. Today he has managed to establish 9 strong companies some of which are dedicated to the development of blockchain, mobile technology, printing, lithography, jewelry, real estate, etc. Rodríguez believes that one of the key aspects that have led him to success is his philosophy of never seeing a problem as a problem, rather as a challenge to be solved. For him, failure is when you do not get up or 12
when you do not solve. Failure isn’t making mistakes; failure is not getting up. For Renato, the motivation is external and lasts little, but inspiration is an internal flame hard to extinguish. His advice to the people is, “You have to make things happen. Don’t expect them to go through someone else. Don’t wait for the government. Don’t wait for anyone.” Despite the infancy of blockchain technology, Renato Rodríguez considers that this is the future of the economy, and he wishes to share it with other people. His goal is not only to teach how to invest and create a profit through cryptocurrencies, but also the economic success that many can achieve thanks to advances and technological innovations. Rodríguez is positioned as one of the main leaders and representatives of blockchain and digital currencies in Latin America and the world.
In 2004, he started his first business, investing in a truck to move merchandise in the United States. Today, he is the owner of nine different companies that allow him to teach others about what he considers the best way to reach financial independence: cryptocurrency.
TECHNOLOGY YOU SHOULD LEARN TO STAY AHEAD OF THE CURVE From health to education, the use of tech is becoming more common in how we do business, how we communicate and how we improve our relationships with others. That’s why keeping up with technology is vital for personal and business success
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echnology is a fast-changing market that influences many aspects of life. From healthcare to education, technology is more and more embedded in the way we conduct business. Keeping up with technology is vital to personal and business success. In the future, technology will only be more relevant in anything we do. This is why learning and educating yourself about new tech-nologies is crucial to your personal growth. Do not get stuck in the past by thinking that you don’t need to be technology-smart. Empower your businesses, brands, and personal life by keep-ing up with the technological word. nología, Zurich 13
TECHNOLOGY Artificial Intelligence According to Adobe, the amount of jobs requiring AI has increased by 450% since 2013. Ar tificial Intelligence (AI) was for many years considered to be science fiction. Today, this is one of the most versatile technologies in the world. We already use ar tificial intelligence every day without realizing it. Netflix algorithms that propose new shows, word suggestions while texting and voice recognition of vir tual assistants like Alexa are just some of the new ways AI has influenced our lives.
Top AI Universities:
Massachusetts Institute of Technology, USA Carnegie Mellon University, USA University of Edinburgh, UK Nanyang Technological University, Singapore
Blockchain According to The World Economic Forum in the next 10 years blockchain platforms are pro-jected to store 10% of global gross domestic product. This is a relatively new technology that is exponentially gaining popularity in multiple areas. Blockchain is also a technology many companies are investing, researching, and developing. Even today, people believe that cryptocurrencies and blockchain are the same, but cryptocurrencies are just one of the applications. Universities and online platforms offer courses and degrees on this technology.
Top Blockchain Universities:
Stanford University, USA National University of Singapore Cornell University, USA Swiss Federal Institute of Technology, Zurich Plekhanov Russian University of Economics, Russia
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Cryptocurrency In 2017, statistics showed there were 18 million users participating in the cryptocurrency ecosystem. By 2018, there were 35 million users. That’s a rise of 94% more users. Cryptocurrencies are a very popular investment these days, but in order to be able to successfully make a return in this market you have to truly understand how it works and evolves. Learning about cryptocurrencies is more than knowing the technology behind it. You also have to learn about stocks, investing, technology, and more. This technology is fairly new, but it shows potential in its growth while great minds keep working on its improvement.
Top Cryptocurrency Universities:
Stanford University, USA National University of Singapore Swiss Federal Institute of Technology, Zurich Plekhanov Russian University of Economics, Russia
Internet of Things (IoT)
Gartner predicts that there will be 20.4 Billion IoT devices by 2020. Another technology like AI, which was believed to be only an idea of fiction. Today, this new technology is a booming new market that promises to revolutionize businesses and networks. In a nutshell, IoT is a giant network of connected devices – all of which gather and share data about how they are used in the environment in which they are operating.
Top IoT Universities:
Massachusetts Institute of Technology, USA Malmö University, Sweden University of Salamanca, Spain Stanford University, USA
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TECHNOLOGY
CYBERSECURITY: WORLDWIDE STANDARDS Online threats have evolved at the same pace of technology. Most internet users feel that they can detect cyberattacks but in reality, most of them are not fully aware of the multiple threats and sophisticated scams that can trick even the most experienced.
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echnology advancements and the digitalization of information have made life more efficient and quick. Economic processes like purchasing and trading can be done from anywhere with a network connection and people can communicate from opposite sides of the world because we are able to store information online for easy access and use. Unfortunately most networks, online accounts, and platforms can be hacked or duplicated to steal confidential data. That is why cybersecurity awareness is in the rise to all end-users. Any process (digital or otherwise) that requires the exchange of confidential information should be taken with seriousness and care. In the same way actions done while connecting with others through a network or online platform should be executed with precaution. Online threats have evolved as much as the technology we
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There are many forms of ‘phishing’ or identity theft that can be found in emails, websites or search engines.
Basics of Today’s Cybersecurity The easiest way to illegally access confidential information is by hacking credentials (login and/or password). If an account is compromised, the user is unlikely to notice it until it is too late giving criminals access to network privileges, company information, credit card numbers, etc.
use every day to enhance life. Most users feel confident in spotting cyberthreats, but the reality is that users are not aware of the multiple threats and advanced scams created to steal information even from the most tech-savy people. Cybersecurity today goes beyond “don’t share your password” and “don’t trust people on the Internet.” Now all users must be aware of the multiple ways information can be accessed illegally. There are many types of phishing scams (fraudulent attempts to obtain sensitive infor-mation) that can be found in emails, websites, and web browsers. In the past, phishing emails were recognizable by obvious markers like glaring spelling mistakes, too-goodto-be-true offers, or suspicious personas. Today, many users are targeted with fraudulent emails that replicate legitimate companies to get them to share information. Cybercriminals go
as far as to replicate legitimate websites for users to enter their information in order to steal it. •Do not open a link in an email from an unknown or suspicious sender. If you re-ceive an email from what looks like a legitimate source, don’t use the embedded links instead access the website by typing the address in your favorite web browser. •If you are redirected to a website, always check the address to make sure it is legit-imate and not misspelled. •Do not share confidential information via email with unknown users. Just as cyberthreats have become more advanced, security softwares and measures are evolving to make users safe. Get a trustworthy antivirus software, keep your systems up-dated, keep yourself and others informed about cyberthreats, and trust your gut. If some-thing looks suspicious don’t dismiss it and double check that everything is in order.
•Do not share passwords or write them down. •Do not use the same password for different accounts. •Use caps, special characters, and numbers to strengthen passwords. •Use two-factor authentication (2FA) to add an extra layer of security to online accounts •Change all passwords at least once a year.
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TECHNOLOGY
THE AIRLINES OF THE FUTURE The International Air Transport Association (IATA) is the trade association for the world’s airlines, representing 82% of total air traffic. They support many areas of aviation activity and help formulate industry policy on critical aviation issues
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he IATA (International Air Transport Association) is considering implementing blockchain solutions in order to solve many issues that the industry currently faces. Airlines are losing a big part of the profit margin. Few people realize that from the moment you search online for an air ticket to the time you arrive at your destination, the airline is just one of around 26 business partners involved in the aviation chain. Airlines aren’t known for being revolutionaries, so for them to adapt and utilize blockchain seems a little far fetched. But, they are being forced to evolve in order to prosper 18
since the involvement of so many businesses represent many cuts from the airline’s profit margin. Another problem the industry haces is that financial institutions (banks, card managers, etc.) take the most profit with the lowest margin of risk. IATA’s financial settlement systems handle around $400 billion per year from which 20% of the estimated net profit of the entire global airline industry goes to banking fees. In addition, introducing blockchain technology could help consolidate information providing a more efficient system. Instead of relying in several ledgers (the banks, the airlines, commission agents, etc.) this
could all be unified on the blockchain. This could result in many benefits for both the flyer and the airline including greater speed, protection from fraud, and transparency in the transactions. Doing such changes could mean more investing capital for airlines. If the industry is to be able to invest in new aircraft, open new routes, and offer a better travel experience, it must achieve sustained financial health. IATA said, “rebalancing the value chain to create a stronger industry means even passengers who never hear the words ‘distributed ledger’ will end up benefitting from the new kid on the block.”
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MASTER COUNCILS Master Councils are international leaders that look to safeguard the wellbeing of the company and take the best course of action to benefit the growth of the business in any aspect
COLOMBIA Gerardo Coral
I am a person in constant preparation. I think a lot about my partners and when I make a decision they are always going to go first than my own benefits. Country of Origen: Colombia “AirBit Club is an educational system about a new economic tendency and an effective tool to accomplish all your dreams.”
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Jairo Salazar
I am someone determine to teach and duplicate good practices in the right way. Country of Origen: Colombia Time in AirBit Club: 3 years “AirBit Club is a dream accelerator and an innovative financial tool.”
Martin Marudt Beltran Santos
I am a disciplined, coherent, and loving man, who has focus and determination as the main characteristics of an entrepreneur with a business vision. Country of Origen: Colombia Time in AirBit Club: 37 months “AirBit Club is the evolution in Digital Economy that allows us to have a profitable business based on Education and personal development worldwide.”
Juan Manuel Jiménez Pérez
Ana Maria Forero Pantoja
Ana Maria Forero Pantoja I am a free, happy, and altruistic woman. Country of Origen: Colombia Time in AirBit Club: 3 years “AirBit Club is the best tool to share information of value and wealth with the whole world.”
Freddy Angel Ballen S.
I am a persistent person, constant and with a lot of willpower to achieve my goals. Too dreamer and highly creative, I make things happen. Weather in AirBit Club: 3 years Country of Origin: Colombia “AirBit Club is a financial tool that allows anyone to transform their inner life so that it manifests on a physical, emotional and economic level.”
I am a leader of faith. I am determined to work for the dreams of others, and I’m willing to share AirBit Club around the world. Country of Origen: Colombia Time in AirBit Club: 3 years “AirBit Club is the biggest blessing that any person in any part of the world can have. It is the best and only educational and financial tool designed to give hope to all families in order to level the economic inequality in the world.”
Monica Gallego
Faiver Sanchez
I am a persevering woman, determined and focused on fulfilling each of my objectives. Country of Origen: Colombia Time in AirBit Club: 3 years “AirBit Club is an excellent financial tool to fulfill our dreams.”
Passionate for what I do. With the conviction and security that we are at the threshold of something that is going to make a deference worldwide. Country of Origen: Colombia Time in AirBit Club: 3 years y 4 months “AirBit Club is our family, which I feel very proud to be a part of. AirBit Club is the official sponsor of the dreamers who have a heart and that are willing to share.”
Once a week they make a video call in which the measures are put to the vote to take to achieve the established objectives previously 21
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ECUADOR Maria Monserrate Reyna Zambrano
I am a happy person, and I like to share my knowledge and positive ideas with everyone. I am in AirBit Club to build a legacy for many people. Country of Origen: Ecuador Time in AirBit Club: 3 years “AirBit Club is the best opportunity of my life.”
Margarita Cabrera Moncayo
I am human, sensible, a dreamer, and always willing to give. Country of Origen: Ecuador Time in AirBit Club: 3 years “AirBit Club is an evolution to the new economy.”
MEXICO Itzeel Gutierrez
I am intelligent, dedicated, charismatic, disciplined, focused, altruistic, courageous, transparent, resilient and disruptive. Country of Origen: Mexico Time in AirBit Club: 36 months “AirBit Club is a financial tool to benefit people in all the world.”
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Cecilia Millán
I am a warrior woman, brave, loyal, determined, committed to values and principles. A student with a desire to always be learning. Ready to face and fight to achieve for my goals. Country of Origen:Mexico Time in AirBit Club: 43 months “AirBit Club is a blessing that has come to the world to be that quantum leap to improve the quality of life of many families. I see AirBit as a dream factory that shows us that dreams do come true!”
Federico Sanchez
I am disruptive, inspiring, and life transforming. Country of Origen: Mexico Time in AirBit Club: 2 years and 4 months “AirBit Club is my passion and my vehículo to financial transformation.”
Every time a great event is held, the Master Councils meet and, taking advantage of the closeness and immediacy, they usually have up to four assemblies that can last an entire night.
ITALY Jayson Abellar
Luca Brignoli
My goal is to help more people like me to change their lives by educating them just as AirBit Club did to me. Country of Origen: Italy Time in AirBit Club: 21 months “AirBit Club is a club that educates people in a new financial economy to achieve their dreams.”
Unstoppable Country of Origen: Italy Time in AirBit Club: 3 years “AirBit Club is a tool to make dreams come true”
Luca Bonicolini
Luca Rossi
A passionate dreamer who likes to learn and share with other people. Country of Origen: Italy Time in AirBit Club: 3 years “AirBit Club is part of my existence.”
I am rational dreamer. I like novelty, I like new projects, but mostly I like to finish what I start. Country of Origen: Italy Time in AirBit Club: 2 years and a half “AirBit Club is my life.”
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BRAZIL António Marcos Rodrigues
Mauricio Moura
I am loyal and focused. Country of Origen: Brazil Time in AirBit Club: 2 years and 10 months “AirBit Club is my family that I’ve learned to love so much.”
I am a professional with the capacity of adaptation. Innovating and using creativity to reach my goals. Country of Origen: Brazil Time in AirBit Club: 3 years “AirBit Club is a life changing agent. Including MY life.”
Raquel Moura
Andressa Costa
I am a mother who dedicated 20 years to her home. And today at AirBit Club, I am learning to share with different people and helping other people to change their lives. Country of Origen: Brazil Time in AirBit Club: 3 years “AirBit Club is life changing. It changes my life and the lives of all my family.”
I am a faithful woman, daring, tireless and capable of facing all the greatest challenges. Time in AirBit Club: 2 years and 11 months Country of Origin: Brazil “AirBit Club is a family that I take care of every day.”
Su-Ah Cho
KOREA 24
I always pray to be strong. Not only to have a comfortable life for myself, but to contribute to the lives of others
Country of Origen: Republic of Korea “AirBit Club is a new dream and a challenge.”
PHILIPPINES Aurora Gaurino
I am a person with logical mind and a compassionate heart.
Time in AirBit Club: 3 years Country of Origen: Philippines “AirBit Club is innovation.”
Tomasito Jr.
I am a simple person. Country of Origin: Philippines Weather in AirBit Club: 3 years “AirBit Club is a membership that teaches you the correct use of cryptocurrencies helping people achieve financial freedom.”
Abner Gaurino
I am a man of few words with a growth mindset. Country of Origin: United States Weather in AirBit Club: 3 years “AirBit Club is a happy life”
Gorgeous Ludy Grosnickle
I am an ambitious and motivated wife, mother and grandmother. I like challenges and I constantly set new goals. I am always looking for the opportunity to achieve greatness. Weather in AirBit Club: 3 years Country of Origin: United States “AirBit Club is a channel to solve problems and make life easier for people. It is a business that will contribute to the community and society in the coming years. “
Emely Academia
I am very passionate about the things I do Country of Origin: Philippines Weather in AirBit Club: 3 years AirBit Club is a life-changing opportunity for those who believe. “
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CRYPTOCURRENCY: 10 YEARS OF HISTORY
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The journey that the different cryptocurrencies have taken offers a glimpse into what the history of this economy has been like. Some reports estimate that billions of dollars are moved in this new market
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he route that has been taken by the different assets in the market offers a very accurate view of what the history of this new economy has been like. Although Bitcoin takes all the reflectors, there are alternatives that are sometimes more convenient. When we think of cryptocurrencies, most people automatically assume that we are talking about Bitcoin, which has been placed as a kind of standard of this economic movement. However, it is estimated that today, there are around 1,300 cryptocurrencies in circulation. Of those, assets such as Ethereum, Ripple, IOTA and Stellar stand out. There are reports that indicate that in this market billions of dollars are moving. Even though a stratospheric figure, that will surely continue to grow. Specially, when we consider that the first currency of this type,
Bitcoin, has only going to reached the decade in 2019. It is important to understand that cryptocurrencies are like cars in the sense that each offers different advantages and characteristics. It is important to take the time to analyze and decide which is best suited to our objectives. If a previous investigation is not made, we may remain with an option that does not leave us completely satisfied, which could end up damaging our perception of how cryptocurrencies work. At the end of the day, we are witnessing the beginning of a new type of economy, which, because of its early age, still presents a series of challenges totally different from those we have seen previously. Just one of the characteristics of the rise of this economy is the emergence of other currencies, as is the case of Litecoin, considered the silver of cryptocurrencies, a more simplified 27
CRIPTOWORLD version of Bitcoin by many experts. The coin was created in October 2011 by Charles Lee, a graduate of the Massachusetts Institute of Technology who, while working at Google. He launched it after mining only 150 coins, since, according to himself, his intention was to use only in minor transactions. Litecoin is believed to be the third cryptocurrency in history, and, despite Lee’s initial intention to keep it as a lower-profile currency, its creation is possibly the second most important denomination in the market. Litecoin is, in fact, the second cryptocurrency that Lee devised, the first being Fairbrix, however, his first attempt was not very successful, plagued by technical errors, plus, according to Lee himself, the developer created seven million of coins for himself and then launched the coin, which created distrust in the community of how effective it could be. Although it shares many features with Bitcoin, Litecoin offers a number of advantages with which the original currency, due to the size of its operations and the amount of money it is trading, is impossible to offer. For starters, the Litecoin network can process one block every two and a half minutes, while Bitcoin stays at ten, which makes Litecoin offer transaction confirmation much faster, and uses different algorithms. Circulation is also an important point, since there is currently the potential for around 84 million units of Litecoin, almost 4 times more than Bitcoin. This is why Litecoin’s currency is traditionally used in smaller transactions, in addition to the value of a unit is well below the Bitcoin ($ 32.04 for the approximate 3,880 in which the first-born coin round). In that sense, Litecoin still has room to grow, but it is very unlikely that it will reach the valuation of its competition in the near future. The market capitalization of Lee’s currency is around 12 billion dollars, while Bitcoin reaches almost 28
2019 is shaping up to be a year of consolidation for cryptocurrencies within the global market, so it is important to know the one of each of the offers that exist, since the old saying is still true, “do not invest in something that you do not understand “
15 times that amount, with approximately 170 billion valuation. In practical terms, Litecoin is the easiest currency to exchange between individuals and with which it is recommended to start investing those with less experience in the fine points of cryptoeconomics. Your portfolio can be downloaded directly from the official site, which also provides greater security to its users.
Dash
Another alternative to Bitcoin or Litecoin is Dash, a cryptocurrency that was originally launched in December 2014 under the name Darkcoin by developer Evan Duffield. At the end of 2018, the capitalization of Dash hovered around 1.51 billion dollars, while its unit oscillates at 82 dollars per unit. Dash is born from some of the Bitcoin protocols. However, it is designed to offer more privacy in your transactions. The currency became so effective in offering anonymity to its users that the same year in which it was launched, two different sites in the United States accepted the currency in the sale of narcotics and illegal substances, according to a report by Wired magazine.
Other advantages that Dash offers are the speed with which it can carry out transactions. It is superior to most of the cryptocurrencies in the market. However, one of its weak points is the excessive centralization, since, when it is launched to the network , many of the units were concentrated in a small group of investors, which has given them a disproportionate power over the future of the currency. Currently, there are about 7.4 million Dash coins in circulation, a relatively low number when we compare it against others of the industry heavyweights. Although it is relatively unknown, Dash is an excellent low risk alternative. The stories of these cryptocurrencies offer a good idea of how the market has moved through the last few months, taking into account that 2018 was one of the most significant years in the shor t life of this type of currency. This year is shaping up to be a year of consolidation for cryptocurrencies within the global market. It is impor tant to know the nature of each of the offers that exist, since the old saying is still true, “do not invest in something that you do not understand.”
WHAT IS AN ALTCOIN? AltCoins are all those cryptocurrencies different to Bitcoin, and there are over 200,000 listed in Coinmarket. The term comes from ‘Alternate’ and ‘Coin.’ The term was pinned since Bitcoin is the original cryptocurrency; therefore, any cryptocurrency created after is called “AltCoin.”
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itcoin was implemented as an open-source code in January 2009. The first block was mined on January 3rd, 2009. Ever since, blockchain technology has evolved to serve almost any industry, anywhere. Bitcoin worked with 2009 technology, and it was created under 2009 predictions of technology. However, technology moves faster and better every day making Bitcoin transactions obsolete compared to what blockchain technology is today. This has driven the creation of new cryptocurrencies or AltCoins. Not all AltCoins will survive, as well as not all of them will grow to be what
Bitcoin is. Bitcoin has created a strong, solid community. Nevertheless, that does not mean that an AltCoin cannot grow in the market like other AltCoins Ethereum and Litecoin that have a strong community.
How to Learn about a Specific AltCoin or ICO?
Most Initial Coin Offerings (ICO) in the market publish a ‘whitepaper.’ This document describes the ‘why,’ purpose, and functionality of the coin. Most AltCoins will have their whitepaper on their website, although, for others you will have to request it. 29
CRIPTOWORLD
TRAXALT – THE NEW PROPOSAL FOR THE CRYPTOWORLD
Backed with third generation block technology, Traxalt is looking to offer its users more speed in their transactions
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n this day and age, many cryptocurrencies are coming out; however, most of them will not survive. Traxalt is expected to come out to the market soon, and it projects a promising future. Normally what determines the success of a cryptocurrency is the trading volume it holds. According to the records shared by Traxalt, the trading volume compares to the top 10 coins in the industry. Traxalt was created as a more efficient alternative to what is currently out in the market. Bitcoin and Ethereum for example suffer problems of scalability. For this popular coins, it becomes harder to mine a transaction on their blockchain because the way it was designed making fee to transact higher. Traxalt works on the Stellar blockchain, a third generation blockchain. 30
First generation blockchains—bitcoin—and second generation blockchains—Ethereum—have the problem that they were never thought to grow so much limiting how many transactions they can make in a determined amount of time. While third generation blockchains are faster, more efficient, and their architecture is thought for continual growth that does not affect efficiency. While the Bitcoin blockchain can complete 6 -7 transactions per second, the stellar blockchain can complete up to 1,000 transactions per second. Holding accounts of Traxalt are also growing on a daily basis. According to their data, the average holding accounts that are created per day are more than 4,000. That is around 18% of daily growth since its beginning. Traxalt is also proposing a new
database system for businesses. With Traxalt, users could keep inventories in a more transparent way, and make large scale payments (up to 5,000 in a single transaction) with around 30% less fees than what users would pay in a bank. Nowadays, businesses utilize software that structure data in the form of tables. Traxalt is proposing a public and a private ledger to give users the opportunity to choose information they want to share with the world. They can choose to show a transaction only within their company or with the whole world. For example, payroll would be shared only within the company, but information about a product could be shared with the world to establish credibility. Traxalt is expected to come out for public sale in the next couple of months.
VISIONARIES
GUTEMBERG DOS SANTOS “Comfort is the most dangerous state of mind”
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utemberg Dos Santos is a businessman and philanthropist excelling in marketing and software industries. He has built his path to success with hard work and determination. His professional career began from a young age. At 11, he began a resale business where he made profit on the very first day. He always knew he wanted to be a businessman, but it was not until age 17, when he met Hagen Horst that his career really took off. With the guidance and inspiration from Hagen Horst, Dos Santos broke all the records in the industry within the first year. When he turned 20 years old, he had acquired significant experience in international business transactions; therefore, he decided to create an international hardware and software distribution company. After growing and having well-established software companies, he moved to
the United States. He had to overcome many obstacles to create his own path like cultural differences and having no significant connections. But in his own words, “being comfortable is the most dangerous state to be in.” He worked hard and built “Memorabilia International” a company that sells articles autographed by famous athletes. This led him to enter the sports’ business ultimately sponsoring UFC and boxing fighters. However, in 2005, he accomplished a goal that he had set for himself: to build a commercial society based on a balance between the environment and human beings. He recommends people to “be the influencer of your life.” By applying this philosophy, he managed to patent ZeroAgua, a product made to clean vehicles with little water. This product has led to save more than 3 billion liters of water. From helping the environment to making a positive change
in society, his accomplishments are great and philanthropist by nature. Gutemberg Dos Santos presides DA PONTE Brazil, an association in charge of disseminating educational and social assistance programs and projects. They increase the professional training of the entrepreneurial spirit and self-sustainability in the artistic, technological, and scientific fields at a local, regional, and national level in Brazil. Nowadays, Gutemberg Dos Santos developed a marketing network present in over 100 countries managing thousands of people amongst his companies. He is also an adviser of multiple software startup companies in Brazil. Additionally, he sponsors smart hardware, artificial intelligent, and Internet of Things development. As always, he continues to build his sports sponsorship portfolio by supporting athletes that compete in Nascar Mexico, Formula 1, Formula 3, Formula 4, and the Mercedes Benz cup. 31
TECHNOLOGY
THE START OF A NEW RELATIONSHIP: CRYPTOCURRENCY AND BANKING With its own cryptocurrency, JP Morgan hopes to accelerate its operations, which total more than 6 billion dollars worldwide
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ntil very recently, the banking industry had mostly rejected cryptocurrencies, tokens, and any kind of digital assets because its risks. In 2018, JP Morgan’s CEO Jamie Dimon described the market of cryptocurrencies as a risk for investors and a fraud, and as we will see later on, the institution has changed their opinion. Also, two other lenders prohibited the purchase of Bitcoin by their credit card customers. How did it happen that banks and their actors changed their minds and today there are more and more banks around the world wanting to participate in this digital economy? Next we will see some outstanding cases of banks interested in participating in the market of cryptocurrencies around the world.
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For the first time an important bank, in fact the largest bank in the United States by assets, decided to launch its own cryptocurrency. “JPM Coin” created and owned by JP Morgan Chase bank—opened in 1799. The institution is dedicated to finance leading in banking investments, financial services, stock management, and moving more than 6,000 million dollars worldwide in large-scale operations among large customers. The purpose of the launch of their own digital asset is to be used in some of these large-scale transactions, so that the operations can be liquidated immediately and without intermediaries helping to accelerate transactions like SWIFT, which usually take a day or more.Umar Farooq, JP Morgan’s blockchain leader, ensures that trea-
sury services and security transactions will also benefit from this initiative.
Features of JPM Coin: Less volatility
Its operation will be similar to the stablecoins: each JPM Coin will be backed by 1 USD. Thus, investments will move according to the dollar and not according to supply and demand counteracting the volatility that discourages many from investing in cryptocurrencies.
Target market
Initially it will be exclusively dedicated to international payments of large corporations that have in order the regulatory requirements and have the anti-money laundering certification. In
the future it is expected to extend the scope of JPM Coin to individual customers.
Private network
JP Morgan will be the institution in charge of handling the transactions of their cryptocurrency, and although it is based on Blockchain and facilitates the realization of instant cross-border transactions, its main difference with Bitcoin is that Bitcoin’s network is open and its transactions are approved through a democratic process.
Centralized
Their transactions are carried out by means of a central instance, which on the one hand satisfies the concerns of institutional investors; and it is another fundamental difference with the decentralization of BTC. For now, JPM Coin is a prototype in the testing stages. A small sample of institutional clients will receive the cryptocurrencies after depositing dollars in their account. Once the tokens are used for a payment, the bank will destroy them and return a proportional amount of dollars to the clients. According to CoinMarketCap. com, up to December 13 the crypto-
currency market was worth 103,900 million dollars. The launch of JPM Coin comes after a difficult 2018 for the cryptocurrency investors.
Why JP Morgan decided to launch its cryptocurrency?
Cryptocurrencies are not issued by governments. The blockchain technology transfers payments quickly with a clear record of the transactions. JPMorgan’s CEO Jamie Dimon has acknowledged supporting blockchain technology for monitoring payments, and says he believes that cryptocurrency is real and has to be examined individually. The bank has stated that it has always believed in the potential of blockchain technology, and that it supports cryptocurrency as long as it is controlled and regulated. Being an internationally regulated bank, they believe they have a unique opportunity to develop this capacity responsibly with the supervision of due regulators. “They have to be cryptocurrencies aligned to the dollar. With what I have problems is with a cryptocurrency that is not fiat; whether crypto USD, Sterling, Yen, they are all fine. But personally I do not understand the value of something that has no value,” says Dimon.
Some of the main reasons why JP Morgan decided to invest in the project are: •Make fast and efficient international payments. •Perform securities transactions and purchase of shares in the stock market. •Recirculate the dollars stored by large corporations through treasury services. •Make payments for services that use blockchain and require payment with crypto, such as smart contracts. •Modernize the bank transfer system since JP Morgan and the other financial corporations have used the same networks for 20 years. JP Morgan has the power to promote the adoption of this technology by new sectors. The impact of JPM Coin could encourage investment and adoption of cryptocurrencies in general and give them more value over time. Although this new asset attracts a new sector, there is still a large group of people who will be attracted by the benefits of Bitcoin’s decentralization.
Mitsubishi UFJ Financial Group Inc. and the MUFG Coin
s of April 1st of 2017, cryptocurrencies were recognized as a means of legal payment in Japan. The acceptance of this amendment positively affected the contributions of many of the digital currencies and placed the country in the second place in this type of investment. In this environment, Mitsubishi UFJ Financial Group, Inc., the largest Japanese bank and fourth in the world by volume of assets, has decided to launch its own internal cryptocurrency by the end of the year. In September 2018, they filed with the Japan Financial Services Agency (FSA) a request for authorization to launch a new currency. If approved, they will be the first financial entity in Japan to issue its own digital currency. With this digital asset, the institution will solve a series of operational problems with33
TECHNOLOGY in the bank such as expenses related to obtaining, storing, and transporting physical money, which have become unsustainable for the country. Likewise, it seeks to change the way in which customers interact with money.
Features of MUFG Coin:
•Less volatility: Its price will be fixed and its value will be equivalent to one yen. •Target market: Retail stores. In order to promote its adoption and be able to connect economic blocks, it will provide a deep insight into customer bases. •Private network: Your own exchange house will be put into circulation to control fluctuations. •Centralized: Your assets will be managed by the financial entity.
Learning Coin: the cryptocurrency project of the IMF and the World Bank
The International Monetary Fund (IMF) and the World Bank have jointly launched a private blockchain in which “Learning Coin” is built. This is a pseudo-cryptocurrency created as an education project on the use and benefits of cryptocurrencies in everyday life, as well as to pro-
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mote sustainable economic growth. Learning Coin is primarily for research purposes. Even thought, it is built on a private Blockchain, it is not a cryptocurrency because it has no real value. The “learning currency” will be accessible only within the IMF and the World Bank, and will be directed to their staff. In addition, the institutions plan to enable an application so that users have access to educational blogs, videos and, other research materials related to digital economy. Cristina Lagarde, general director of the IMF, has acknowledged that cryptocurrencies and blockchain technology have a potential that is shaking the traditional financial world that is why regulators and central banks are opting to adapt. “We are close to see a massive disruption. The way in which this new technology is lowering the price of financial transactions and making them more accessible, even for those smaller groups for people who do not have much, do not deposit much, and that don’t request big loans,” Lagarde said. Some of the benefits the director recognizes in cryptocurrencies are: •They are governed by a reliable system.
•They offer the option of being completely transparent. •They expand the possibilities of creating payment services in a decentralized economy. •They facilitate the international exchange of goods and services. •They expand the financial possibilities of the population. •They facilitate the storage of value. •They are technologies developed at international level. •They act around the world. The fact that institutions such as the IMF, charged with ensuring financial stability at the international level, began to give support to blockchain technology and digital assets and recognize and use their advantages, could play an important role in the regulation and proper implementation of cryptocurrencies. In the world, more and more banks are beginning to carry out tests and to offer their users cryptographic custody solutions, which assures them their assets are safe under the care of a trusted third party. Some other banking institutions that offer these types of solutions are State Street Corporation (a US financial services company); Fidelity Management and Research (a US company specializing in asset management and pension funds); Coinbase (a digital currency exchange based in San Francisco); Vontobel and the Falcon Private Bank (Swiss investment banks); Börse Stuttgart (the German stock exchange); Expobank CZ (a commercial bank of the Czech Republic); and Union Bank (a bank of the Philippines, among others). In the market there is a growing demand for a traditional and established custodian that provides safe storage of cryptocurrencies. Such projects, as mentioned in this article, can represent the necessary impulse that will support the institutional capital to move towards the market of cryptocurrencies.
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CRIPTOWORLD
SMART CONTRACTS: ARE THEY THE KEY TO SAY GOODBYE TO SCAMS?
Contracts have traditionally needed a third party to assure that they are enforced, however, since smart contracts have a base in code that utilizes the language of programming, they eliminate this necessity
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owadays, everything has to be intelligent. You can no longer afford to be impractical or just have one function. Phones, televisions, houses, cities, watches, all of them are objects (or places) that became multi-functional because that is what the market demands and because, within this multifunctionality, we save time, the most important currency in circulation. This doesn’t mean we are more impatient now, but that the rhythm of life has led us to this. 36
This technological revolution has also impact the way business are done. This is why we are already talking about smart contracts, which go hand in hand with the rise of cryptocurrencies. Contracts, in their general definition, are an agreement between two or more parts that define what they can do, how they have to do it, and what happens in case there is a breach by any of those involved in what was agreed.
For obvious reasons, contracts usually need third parties that supervise their execution. However, smart contracts eliminate this need since they are based on code scripts that use programming language and automate the processes through commands once the agreements established in the contract are fulfilled, which is stored in a platform that has this type of functions enabled (Ethereum , for example). Which means, the code acts as the supervisor.
These online documents, prevents to defraud someone since the exchange of goods or services is linked precisely to compliance with it. Being a visible code that cannot be edited, the contract offers participants a guarantee that was not previously available. A practical example: you need to do a hotel reservation. In this case, you need interaction with another person, someone who gives you they key or checks you in. By using a blockchain platform with smart contracts, a code is generated. Once the reservation is made and the transaction is succesful a smart phone linked to the user receives a digital key, which can open the door from the place we want to enter. All this sequence has a record on the platform, to avoid misunderstandings in the transaction. This new way of operating would revolutionize many industries that operate in a similar way. Which means, once the technology is normalized at a level that is accessible to the bulk of the population, the cost would be almost free. Although the concept of smart contracts is new for most of the general population, the idea was originally introduced by Nick Szabo on 1996. The founder of Bitcoin Magazine, Vitalik Buterin, an important enthusiast of this platform and someone who has dedicated a lot of time to promote it on many levels, describe them on the following way. “In the smart contracts approach, the good or money is transferred to a program and it executes a code that at some point automatically validates the condition and determines if the good should go to one person or another, or if the money should be automatically reimbursed to the person who sent it or even a combination of the options�. The main theme, above any other, is the descentralization that the system offers. Like the cryptocurrencies wanted to get rid of the intermediates (whether banks or even governments), smart contracts seek
to balance the scales, offer society a fairer and more secure alternative to ensure that their investments end where they should end .
Smart contracts against corruption One of the fronts where the implementation of this technology could benefit the most is in the fight against corruption, as it was discussed in the 2017 World Economic Forum. By using a smart contract, we would be making sure that the guidelines, for example, of campaign promises are fulfilled in time and form or that the money that is destined for some operation is actually given the intended use. 37
CRIPTOWORLD
BOOK YOUR HOTEL WITH CRYPTOCURRENCY
Golden Gate Hotel & Casino
When a hotel accepts payments with cryptocurrencies, it opens up a whole new market to exploit
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ittle by little, more people discover a new economy that offers more security and usefulness compared to the currencies of their respective countries. Among those who have decided to adopt Bitcoin and other digital currencies, we have sellers, and business owners, who see in cryptocurrencies the possibility of capturing a new audience. When a cryptocurrency is distributed globally, more people who do not have a credit card or have credit rating problems can make hotel reservations faster. Payment with cryptoactives promotes global financial equality; what has been palpable
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from what we see happening with the reservation process and the hotel industry. Business owners of hotels with this service are visionaries who want their businesses to be the first in the regions where they are located, and inspire other hotels to follow their example. Accepting a cryptocurrency in general opens a new segment of the itinerant global population. For administrators it is an opportunity to also return to peer-to-peer relationships with their potential clients. Currently, the large reservation portals have so much commercial power that the hotel industry and clients are at their mercy.
El Diablo y la SandĂa
The D Las Vegas Casino Hotel Golden
This hotel located in Oaxaca, Mexico, accepts Bitcoin since 2011, is pet friendly, and has a very Mexican style.
Both hotels in Las Vegas were the first Casinos to accept Bitcoin in 2014. Between both properties, Bitcoin is accepted at five locations including hotel receptions and gift shops.
Hotel Boutique El TiburĂłn
The adoption of Bitcoin in Latin America is happening gradually, and this hotel in Argentina joins the avant-garde by including Bitcoin as a payment method to book and pay for rooms and services since 2016.
This is the first hotel in Andalusia, Spain, to accept Bitcoin, Ethereum, Litecoin and BitcoinCash through a digital portfolio hosted in Coinbase. Located on the beach of La Carihuela, Torremolinos, one of the most privileged places within the frame of the province of Malaga on the wonderful Costa del Sol in Spain.
Onas Hotel&Suite
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CRIPTOWORLD
TRAXALT ARRIVES TO MOTORBIKE BP Treat yourself to one of the most exclusive restaurants in Guangzhou and take advantage of the benefit of being able to pay with the crcyptocoin that’s setting the market on fire
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he BP 机车 餐吧 Restaurant (which translates to BP Motorbike Bar) in Haizhu District in Guangzhou, China has gone viral not only because it has a high-grade culinary offer, but also because it is the first restaurant to accept payments in the cryptocurrency Traxalt. The restaurant specializes in
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craft beer, but it stands out with its Guangzhou’s authentic barbecue. Among the diners’ favorite dishes are the large oysters and roast beef with bone, which provides a significant amount of collagen. It has an outdoor space to enjoy with friends or family, have a glass of wine and enjoy a good meal. When finished, customers can proceed to
make the payment of their consumption through blockchain technology with the new Traxalt cryptocurrency. It’s as easy as scanning an address and sending the amount. The restaurant is located on Jiangwan Road, Haizhu District, Guangzhou, on the first floor of the Zhengyi mansion on Yi’an Street. The approximate cost per person is 79 yuan.
MALTA: CRYPTOCURRENCY HEAVEN Malta’s landmark legislation defines a new regulatory framework for cryptocurrencies, and it addresses AML/CFT concerns.
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hile countries debate about the safety and benefits of cryptocurrencies, Malta, a small European country, has completely assimilated this technology with the hope it will increase its economic growth and power. Malta is thought to be the most crypto-friendly nation in the world. According to the European Union economic forecast, Malta has one of the most dynamic economies in the EU. Real GDP growth is estimated to have reached 6.2% in 2018 while it is estimated that the growth will of be 5.2% in 2019 and 4.6% in 2020.
The Prime Minister Joseph Muscat said that “[cr yptocurrencies] are the inevitable future of money.” He believes that technology, specially blockchain, has the potencial to revolutionize and improve systems. “In Malta, we have launched ourselves as the Blockchain Island by being the first jurisdiction to regularize a new technology that previously existed in a legal vacuum” said Muscat. Recently, Malta implemented legislatures and passed bills that promote a healthy environment in which technologies can thrive, thus, making Malta a blockchain and cr yptocurrency heaven.
The Malta Digital Innovation Authority will be the government authority responsible for creating crypto policy, collaborating with other nations and organizations, and enforcing ethical standards for the use of crypto and blockchain technology. 41
CRIPTOWORLD
CELEBRITIES SEDUCED The crypto fever has managed to seduce celebrities from all walks of life thanks to blockchain technology that has improved the security in financial transactions
Ashton Kutcher
The well-known Hollywood actor has shown his interest in the financial system since 2010, when he founded an investment company called A-Grade. Digital currencies make up a large part of his investments, since you have allocated capital to the Unikoin Gold token, the currency used in e-sports or online games. In addition, he has become a shareholder of Uber, Airbnb and BitPay. 42
Multiple celebrities have expressed their support for cryptocurrencies as the currency of the future.
Bill Gates
The tycoon and owner of Microsoft has established himself as a reference in the field of cryptoeconomics. In an interview he will ensure that Bitcoin is better than the fiduciary currency, thanks to its digital presence and, in the case of large transactions, has greater security.
Steve Wozniak
The co-founder of Apple predicted that bitcoin will be the only currency that will be handled in the world. Wozniak knew the most famous cryptocurrency when it was priced at only 70 dollars, however, he invested when he had already raised to 700 dollars. Currently, a bitcoin is quoted around $ 5,000. For him, the biggest advantage of digital currency is that there are no companies behind them.
Mike Tyson
The American boxer is one of the celebrities that are most involved in cryptoactives. His name and image are the trademark of a bitcoin ATM developed by Direct LLC. In addition, he has a digital wallet thanks to an alliance with Bitpay. He has commented that he is grateful for being part of “this revolution�. 43
CRIPTOWORLD
Warren Buffett
The best investor in the world clarified his position on cryptocurrencies in an interview with CNBC, where he defined virtual currencies as an “effective way of transacting money”.
Hugh Laurie
The musician and actor recognized for his role as Dr. House is one of the celebrities with the greatest interest in cryptocurrencies. In 2015, a friend convinced him to invest in Bitcoin before it showed a big spike, so he ended up buying around five thousand dollars in BTC.
Snoop Dogg
The rapper announced in 2013, through Twitter, that his album would be available to be purchased with bitcoins and that it would be delivered by a drone. Despite not having kept his promise, he inspired other celebrities to do the same, such as Mel B or Björk. 44
The digital currencies have registered a growth of more than 1000% in the last five years, reaching its highest level in December 2017when each cryptocurrency was quoted at 17 thousand dollars
Björk
The singer from Iceland followed in the footsteps of Dogg and decided to commercialize her album Utopia through crypto-active as a method of payment. Those interested could pre-order the album through bitcoin, litecoin, dash or audiocoin.
Johnny Depp
The protagonist of “Pirates of the Caribbean” became a partner of TaTaTu, a blockchain-based startup that rewards its users with virtual currencies for interacting with content, such as movies and games.
Floyd Mayweather Jr.
The recent former boxer was the first major celebrity interested in the world of crypto economics, because his image was used to promote an ICO (Initial Currency Offer) right after the fight with Conor McGregor, one of the best events in his career. He has been a promoter of Stox, Hubii Network and Centra. His support for cryptoeconomics was reflected after twitting: “Spending bitcoins, ethereum and other cryptocurrencies in Beverly Hills.” 45
GOURMET
CULINARY EXCELLENCE In the world of high cuisine, few reviews are as important as this one, but, how is the grading process carried out?
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ichelin stars come from the tire brand Michelin. It originated in France in the 1900s when the company launched a road trip book of France. This book was created to increase tire sales by encouraging people to drive more. Then in 1926, they started sending out anonymous critics to review restaurants. This practice continues until today. The reviewers take notes on their visits and then get together to decide which restaurants will be awarded with the stars. Michelin awards 0 to 3 stars based on quality, mastery of technique, personality, and consistency of the food. They 46
do not care about ambiance, décor, or any aspect separate from food. • One star : A good place to stop on your journey, indicating a very good restaurant in its category, offering cuisine prepared to a consistently high standard. •Two stars: A restaurant wor th a detour, indicating excellent cuisine and skillfully and carefully crafted dishes of outstanding quality. •Three stars: A restaurant wor th a special journey, indicating exceptional cuisine where diners eat extremely
well. Distinctive dishes are precisely executed using superb ingredients. However, they don’t focus only on “fine dining.” They also have the Bib Gourmand award. This award is given to restaurants under a cer tain price limit (which varies according to the country based on the cost of living). Bib restaurants all have a more simple style of cooking. Something that is easy to eat and that one can replicate at home. This award also focus on value for your money making sure you have eaten something good for a reasonable price.
STARS IN SINGAPORE Singapore’s gastronomy is recognized by its diversity and innovation. In this eclectic country, you can find high quality dishes that come from all corners of the world. Michelin stars are the highest praise to restaurants and food establishments, and in Singapore there are many of these among the restaurant industry. Whether you want traditional food or dishes from other countries, Singapore offers some of the best restaurants in Asia and the world. Odette
Two stars Chef de cuisine: Julien Roye
This is a young French cuisine restaurant located in National Gallery. Although the restaurant is incredibly new, it has already surpassed all expectations and wowed the world with its quality. •9th best Asian restaurant by www.theworlds50best.com •No. 1 on the Asia’s 50 Best Restaurants in 2019 list •Restaurant Of The Year at the annual G Restaurant Awards •No. 28 on the World’s 50 Best Restaurants list
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GOURMET
Les Amis
Two stars Chef de cuisine: Sebastien Lepinoy
This is a French cuisine res taur ant in Shaw Centre. It has a renowned $5 million wine collec tion with a selec tion of over 3,0 0 0 bot tles . •16th best Asian restaurant by www.theworlds50best.com •Top 20 Asian restaurants by Restaurant Magazine •One of the best restaurants in Singapore by The Daily Telegraph
Shisen Hanten by Chen Kentaro Dos estrellas Chef: Chen Kentaro
This is the first chain of a Japanese-family restaurant outside of Japan. The restaurant is located in the Mandarin Orchard. •Highest Michelin-rated Chinese restaurant in Singapore.
Shoukouwa Dos estrellas
The highest rated Sushi restaurant in Singapore. You can find it in One Fullerton. •Singapore’s Top Restaurants 2018/2019
Waku Ghin
Dos estrellas Sous chef ejecutivo: Masahiko Inoue Executive sous chef: Masahiko Inoue Located at Marina Bay Sands, this is Tetsuya Wakuda second restaurant. It “combines the fresh-est Australian seasonal produce with French culinary ar ts and Japanese-style presentation.” •20th best Asian restaurant by www.theworlds50best.com. 48
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GOURMET
TOP 5: THE MOST EXPENSIVE MEALS IN THE WORLD Louis XIII Pizza Precio de $9,710 US Salerno, Italy Renato Viola’s pizza is the most expensive pizza in the world. Just the dough takes 72 hours to make. The toppings include 3 different varieties of caviar, a very rare coñac, brandy, champagne, lobster, prawns, and buffalo mozzarella cheese. In addition, the pizza is served in plates and silver ware that are limited edition.
Kopi Luwak Coffe Priced at €400 per kilogram Priced from $35 to $80 for a cup This coffee is digested by a mammal called civeta or Luwak, similar to a raccoon. Red coffee beans are a regular part of their diet, and they partially digest them. It has become a delicacy to pick up, wash and lightly toast them to create an exquisite cup of coffee.
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Only 500 kilos of the most expensive coffee are produced per year
Black Diamond Ice Cream Priced at $816 for a single sundae Scoopi CafĂŠ, Dubai It is made with vanilla ice cream from Madagascar, saffron from Iran, rare black truffles from Alba Italy and 23k gold flakes and powder. Served in a golden handcrafted bowl and a silver spoon, which the customer keeps after eating the ice cream, it is one of the most expensive ice creams in the world.
A dessert accompanied by 23 carat gold at only 816 dollars
Albarragena JamĂłn Albarragena Jamon Iberico de Bellota Priced at $180 per pound Yes, ham. It comes from pigs that are only fed with acorns and roots. In addition, it is cured for three years before being packaged in a handmade wood box with a handmade apron made by a tailor. It also comes with a DNA cer tif icate conf irming its authenticity.
Custom made Sushi Priced at $1978.15 for five pieces If you want a unique sushi made just for you, you can request it from Filipino Chef Angelito Aranet Jr. This sushi has details as no other. Each piece is wrapped in a 24k gold leaf with exquisite toppings such as caviar, Mikimoto pearls, and an African diamond to give it the special touch.
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LUXURY
TOP SEVEN MOST LUXURIOUS AIRLINES IN THE WORLD
More space, food from the best restaurants in the world, great wine, private chambers and the latest technology. These are just some of the features in the best airlines around the world
Singapore Airlines
Fly in your own private suite with your own TV, bed, and couch in an enclosed cabin. These can be for 1 or 2 people. Passengers also get access to a cocktail bar, spa facilities, and food that is prepared to order. Some of their destinations include Chengdu, Kuala Lumpur, Amsterdam, Zurich, Seattle and Phuket; among others. 52
Etihad Airlines
This airline counts with a “Diamond Class” in which you can choose from options like your own “apar tment” with a wide armchair and a separate 6-foot 10-inch fully-flat bed, a “suite” with a seat that conver ts into a 6-foot 8-inch fully flat bed. It also has a “lobby” area where guests can socialize over drinks or just relax at the upper deck. They
also provide inflight chefs and wine lists to enjoy a gourmet experience in the sky.
Emiratos
Emirates offers fully enclosed firstclass private suites with floor to ceiling sliding doors, soft leather seating, high-tech control panels, and mood lighting. The amenities include: •Bulgari Amenity Kit
•Faux leather notebook •Branded pens •Bowers & Wilkins Active Noise Cancelling E1 headphones Design details within the suite were inspired by luxury automotive brand Mercedes-Benz. And, the “First Class Shower Spa” provides a space where flyers can refresh by taking an inflight shower.
ANA Airlines
This airline has an exclusive lounge for first class flyers depar ting Tokyo. These first and business-class lounges both have shower facilities, a variety of seating, and delicious food. Unlike with some other airlines, even the center seats in ANA’s first class are incredibly private. At the front of the seat there’s a huge 23-inch HD display with a wide storage counter below and a large ottoman with room to accommodate a small roller bag. A gigantic tray table slides out from under the TV, while a smaller beverage table is available just in front of the left or right armrest.
Qatar Airways
According to several exper ts, the service is amazing in this airline. They have received many awards for their onboard service. Some of their airplanes include full-mood LED light settings to minimize jet lag and eight adjustable cabin temperature zones to offer more precise control over the air throughout the plane. Also they were the first ones to offer a double bed in their QSuite Business Class cabin, which can also be transformed into a working space.
Air France
Travel in a private suite with an upright seat that transforms into a bed with a memory foam mattress and a duvet. Enjoy amenities that include a high-quality cotton bath53
LUXURY
robe, slippers, socks, and Carita travel kit with moisturizing cream, anti-fatigue eye patch, hand cream, and lip balm. Enjoy signature meals that change every 3 months. They only have 9 f irst-class seats per flight, which provides exclusivity and privacy.
JetBlue
In 2018 the number of passengers increased to 4.3 one billion, 6% more than in 2017
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Flyers recommend this airline because of the great selection of food. They provide options of seasonal small plates inspired by NYC’s Saxon + Parole and complemented with espresso-based drinks from Brooklyn Roasting Company. First class seats count with a personal setback touchscreen, a large library of free on-demand movies and TV shows, and a DO NOT DISTURB button to sleep soundly without being interrupted.
HOW TO SURVIVE A LONG FLIGHT Long flights can be dreadful. Being stuck inside a metal tube for more than 6 hours is rarely en-joyed by anybody. That being said, there are many ways your flight a little bit more comfortable. Carry-on musts
It all starts in the packing. Make sure you have the following items in your carry-on bag: Noise cancellation headphones Eye mask Sleeping pills Snacks Water (purchased at the airport you are departing from) Pen (to fill out the forms) Having these available will solve many issues such as other passengers’ noise, people who turn on lights next to you, eating on your own schedule, and going through customs lines faster.
It’s all about the attitude
The clothes matter
Specific tips for women
Entretainment
Another great tip is to be nice both to other flyers as well as flight attendants. This will go a long way in keeping a nice environment and maybe getting something extra. Remember you have to interact with this group of people for hours. If you are a woman who suffers from oily hair, dry shampoo is a must. It can be really uncom-fortable to have oily, dirty hair while traveling. Dry shampoo is an excellent solution to this. Al-so, if you pack wipes, you will be able to feel refreshed even after hours of flying.
Make sure you wear comfortable clothes. This doesn’t mean you have to be messy. However, you can use stretchy or loose-fitting bottoms such as leggings and a cozy oversized sweater or cardigan that can also be used as a blanket. Although most airlines have enter tainment on board, don’t just assume you will f ind something to pass the time. Always be prepared. Make sure you have an iPad, computer, or some sor t of enter tainment provider in case there is none in f light . 55
TRAVELS
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DISCOVER SINGAPORE: SMART AND DIVERSE Located in southeast Asia, this little island is one of the most startling destinations in the continent
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ingapore is a country of technological innovation, quality lifestyle, and diversity. Considered the world’s most technologically-ready country, Singapore offers both a “smar t city” and a rich history full of cultural practices and diversity. Discover the different experiences and travel opportunities Singapore has for you. The Republic of Singapore has proven to the world that size doesn’t have anything to do with greatness. With its 279 square miles of territory and a population of 5 million and a half, Singapore is one of the most efficient and developed countries in the world. Its name derives from the Sanskrit ‘Simhapura’ that translates into the ‘lion city’.
For the Explorers
Whether you want to explore historical sites, nature wonders, or architectural gems, Singapore offers a great number of places that you can visit depending on your interests.
Lau Pa Sat
A historical land-mark frequented by both locals and travelers alike. Located in the Central Business District where people enjoy an authentic local environment and delicious and affordable delicacies. Tip: Try the satay in the satay street starting at 7:00 p.m.
Esplanade
This art center is famous for its aluminum façade and shape. Discover the booming art scene, shop the stores, attend a concert, or take pictures of the architectural wonder.
Gardens by the Bay
Located in Marina Bay, Gardens by the Bay is Singapore’s biggest botanical garden and nature park. Enjoy indoor nature and creations that fuse the best of nature and architecture. Don’t miss some of the most iconic locations like the world’s tallest indoor waterfall, the Supertrees, Cloud Forest, and more. 57
TRAVELS For the Foodies
Singapore’s cultural diversity creates an interesting and colorful cousin. While exploring the city don’t forget to try local food and dishes..
Chicken Rice
Singapore’s national dish can be found anywhere in the city, from street vendors to high-end restaurants. You have no excuse not to try this iconic Singaporean dish.
Chilli Crab
One of Singapore’s greatest culinary inventions, this sweet and spicy crab dish will leave you wanting seconds. Tip: Use manatou to soak up and eat the sauce.
Laksa
This spicy coconut milk-based noddle soup comes in various types. The most important element to the soup is its characteristic thick and short noodles. Try the native and most famous laksa: the Katong laksa.
For the curious
One of Singapore’s most important elements of identity is its diversity. In this country multiple cultures co-exist, share, and collaborate to create a rich and multicultural environment where differences are celebrated and accepted.
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Sri Mariamman Temple
The oldest Hindu temple in Singapore and focal point of the local Hindu community, the Sri Mariamman temple has an iconic façade of Dravidian style decorated with Hindu deities and mythological figures.
Chinatown
Visit Singapore’s Chinatown to discover historic temples, medicinal halls, and innovative new bars. Singapore’s Chinese immigrant population created a place where tradition and innovation go hand-in-hand.
Waterloo Street
Waterloo street is known to be an example of the multicultural and harmonic nature of Singapore. This street is famous for the multiple places of worship including Buddhist, Jew, Christian, and Hindu that worship within 550 meters. .
THE NEW FORM OF INTERACTION IN SPORTS
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here are many ways blockchain is influencing sports. By using blockchain technology, fans are able to stream and obtain information real-time without intermediaries such as sports channels. SportsCastr is a blockchain-based company that partnered with STATS, a provider of sports intelligence and data. Their goal is to deliver real-time data to the public with a product called FanChain. In this platform, fans will be able to see live data and stream different games and sports, or they can create their own ‘stream’ to talk about a live game and host a half-time show. FanChain provides talking-points and notes about the game so users can have more insight and a better experience when watching games. If users are able to attract a large number of viewers, they can get benefits such as prizes, awards, and credits. SportsCastr works with the company STATS because it is considered the world’s leading sports data and tech-
nology company. They have been in the industry powering sports for over 35 years. They analyze more than 10,000 games a year to provide accurate information and statistics to the public. According to the people of SportsCastr, this will open a whole new engaging platform for sports fans interacting in real time.
With information about your favorite sports in real time, you can even comment on a live game and win prizes
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SPORTS
WHAT YOU SHOULD KNOW OF FORMULA RACING Follow the journey aspiring pilots have to travel on their way to Formula 1
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F
ormula racing is an openwheeled single seater motorsport. One form of racing is open formula that allows a choice of chassis or engines.The other form of racing is a control formula where only one supplier for chassis or engines is allowed. There are four main series in formula racing:
Formula 1:
The first recognized race to be run was in 1950. It is regarded as the top category in the sport. It is where one can find most luxury and the higher prices to compete. About 2.6 billion dollars are spend by F1 teams per year. Formula 1 cars can hit speeds of 374 km/h (233 mph).
Formula 2:
The motors are about half a size from a Formula 1 car, F2 cars are backed by a 500hp engine. However, their max speeds are only 30 km/h less than F1. The cost to enter the F2 world is about $311,000.
Formula 3:
These are the slowest fuel-based formula racing vehicles. Their max speed only reaches 270 km/h (167 mph). But, given that they are all designed similarly, the races are much more exciting
as it is rare for one team to dominate the track.
Formula 4:
This is normally the step up from karting. These cars are open-wheeled, but they have no global championship. Their max speed is 210 km/h (130mph). This category was introduced in 2014, making it the youngest in Formula racing. Es habitual que los corredores construyan su carrera profesional desde la Fรณrmula 4 hasta la Fรณrmula 1. It is customary for racers to draw their career path from Formula 4 all the way to Formula 1. However, some might skip categories, depending on their skills and financial support. . 61
SPORTS
PIETRO FITTIPALDI OVERCOMING THE WORST FEAR In 2018, his car had some electrical problem moments before it exploded, resulting in an exposed fracture in the lower part of his left leg. There were some speculations that he’d never be able t o return to the racetrack, but only two months later, he was back in a car.
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n May 2018, Pietro Fittipaldi suffered from a broken leg and ankle as a result of a high-speed crash in the Spa FIA World Endurance Championship round. He was due to complete a part-season in Japan’s premier single-seater championship with Team LeMans, but was forced to abort the plan given his accident. However, his injuries did not stop him from pursuing his career as a driver. Fittipaldi began his racing career in the NASCAR Whelen All-American Series where he won the track championship at Hickory Motor Speedway in 2011. This was before moving to Europe to pursue a career in openwheeled racing in 2013. In 2014, he won the Protyre Formula Renault Championship clinching the title with one remaining race. In 2018, Fittipaldi’s car had an electrical problem moments before he crashed. He had to undergo surgery for a com-
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pound fracture of his lower left leg. It was speculated that he wouldn’t be able to go back to his driving career, but eight weeks later, he was back on the track. Fittipaldi drove for Jaguar Marrakech rookie test in 2018, and his appearance in the January 13, 2019 test marked the first time he drove a I-Type 3 Gen2 car. Recently, he was signed as Hass Formula 1 team’s test driver. According to Gunther Steiner, team principal of the Hass Team, the team signed him for his ability not his name. In Steiner’s words, “If he is called Fittipaldi or, I don’t know, Sanchez or whatever – I don’t really care at this moment. He needs to add something to us, an element to get the team better, and not us do better marketing-wise.” Pietro was first introduced to Steiner by his uncle (Max Papis) who lives near Steiner’s house in North Carolina, USA. At the time Pietro was driving in Formula Renault 3.5, and Steiner told him to win a championship and come back. Pietro did just that.
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SPORTS
NEW WAYS TO SUPPORT ATHLETES Smart contracts can benefit the world of sports, eliminating disputes between players and club or other sponsors
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ew platforms are emerging utilizing blockchain and specific tokens to support athletes. They are utilizing their tokens in order to fundraise money to support athletes. By utilizing smart contracts, they can create a bond between potential investors and the athletes that are on the rise. Being an athlete requires a lot of time and discipline, but most importantly, money to support it. Having this form of crowdsourcing allows aspiring professionals to focus on their development without having to worry about how to finance it. In exchange, they participate in smart contracts where they repay investors whenever they start earning as athletes. “This helps secure investor money, and could have implications even within more traditional sport agency models,” said Joshua Bernstein in a 2018 article for the DePaul Journal of 64
Sports Law. The global sports industry is a multi-billion dollar industry (some estimates putting it over USD$1 trillion); however, because there is so much money involved, there are several yearly disputes over it. “Self-executing smart contracts could be beneficial to the professional sports world eliminating disputes between players and either their clubs or third-party sponsors,” said Todd Byrne, a former professional rugby star who has been known to have a special interest in blockchain technology. Right now, the common practice is that athletes rely on agents for their negotiation. While the regulations for agent behavior have tightened, there are still many agents scamming upcoming athletes according to researchers at Villanova University studying sports agent regulations.
Bernstein said, “There’s definitely corruption among these sports organizations and endorsements. It’s the lower talent, unfortunately, that gets taken advantage of.” “Because smart contracts automatically execute once the agreed-upon conditions are met—and only once they are met—they could help prevent abusive activity,” Bernstein pointed out. Having the smart contract on the blockchain makes it available for anyone to see and unmodifiable so the agent or investor cannot alter it. Byrne gives the example of Player A agreeing to a $50,000 per year deal with Sponsor B, who in turn asks for one in-store appearance per month from December to September. Signed by all four parties, the contract is then uploaded to the blockchain where it is verified and transparent.
CRYPTOECONOMY GLOSSARY
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ryptocurrencies represent a sector that can be a very good option for those entrepreneurs that seek a business opportunity; although, because of all the terminology and concepts that this field entails it is necessary to conduct research in order to be able to make money and to be profitable to invest in them. In this space, we will give you an illustrative panorama of how the digital economy and this technology (that has a lot of projection) works.
Blockchain Blockchain, or Distributed Accounting, is a technology that allows the realization of any type of transaction between two or more people without the need of intermediaries (peer-to-peer or p2p) through the Internet. Thus, its original name was A Peer-to-Peer Electronic Cash System. It was created as a great accounting book that is public and accesible to anyone. It is an articu-
lation of structured technologies in a naturally encrypted system that provides the users with identity and transaction data protection. It was introduced to the world through the cryptocurrency Bitcoin: the first blockchain platform.
Smart Contracts Smart Contracts are contracts that have the ability to be automatically fulfilled once the parties have agreed to 65
CRIPTOWORLD their terms. The principal elements are the voluntary consent of the parties, the object of the contract (whether a service or a good), and a just, lawful, and true cause. An informatics program that is not written in usual language but in virtual code. This is one of the many applications that Blockchain can have. This software is programmed to complete a task or series of tasks according to introduced instructions. It does not require any middleman of trust, this part has been adopted by the code, which ensures compliance with the conditions, reducing time and costs significantly.
Cryptocurrencies Cryptocurrencies are a means of exchange like any other currency with the difference that they do not belong to any bank or government that control its emission. This characteristic is called decentralization. The market demand is the principal factor of its price. They utilize a complex cryptographic system making them impossible to falsify and duplicate, while each transference is encrypted by its complex code making them secure. In addition, bank accounts and card numbers are kept private. Commissions are really low because the exchange does not require intermediaries—the money goes directly from one person to another. Also, because they can only be access by the owner, there is no possibility to freeze or close the accounts arbitrarily. And the best par t is that they can be exchanged at any moment for any other currency.
Mining It is the activity through which new cryptoactives are issued and transactions are confirmed in a blockchain network. Mining is a decoding system that helps “miners” compete with each other to solve complicated mathematical problems through 66
cryptographic hash functions. Hash decoding is a mathematical problem seeking to create a block that is within the target or objective space.
Electronic Wallets Electric wallets, electronic purses, or online wallets are graphical interfaces to interact with the blockchain network. These allow users to do transactions and manage digital identities like manage cryptocurrencies. Wallets also store private passwords needed to access registered salaries in the public chain of blocks and be able to spend it. There are platforms like Bitfoliex that allow you to create an account in order to have a portfolio of cryptocurrencies and be a part of the crypto-world.
Trading Trading refers to the exchange of one article for another. In cryptoeconomy it is the purchase of a cryptocurrency at a determined price to sell afterwards for a higher price in order to gain a benefit. Through trade, market trends are recognized, which in the case of cryptocurrencies imply very high volatility and require analysis. There are many personal trading platforms that connect traders with the cryptoactives. Among some of these, we recognize AirBit Club that incorporates a wide range of features that allows both beginners and experienced users to execute advanced trading strategies with relative ease.
Value In the digital economy the value is not created, during mining units are issued or exchanged: •They are exchanged when monetary units are received as a commission for a contribution, which in this case is to offer computational power to execute the verif ication
algorithm of a cer tain transaction and thus receive the currency. When a PC does the work of verifying a transaction, it earns a commission; anyone can process transactions and make a contribution to the network and thereby earn commissions, since as cryptocurrencies are decentralized, there is no system, ser ver or central node. •The transactions are stored in blocks, which the miners register and verify publicly. The transactions are verified in a mathematical race to find the solution to a cryptographic problem, try more solutions per second, with it the block is solved and more currency is emitted for those who solve the problem. The more computing power one has, the higher the probability of solving a block. To accelerate that process the miners organize themselves in pools, groups in which several par ticipants contribute their mining power and their investments to increase the probabilities of solving the blocks and later divide the reward. Everyone can contribute to par ticipate in those free and anonymous pools. Educating yourself about this young, revolutionary, and disruptive market will help you see in cryptocurrencies more than a financial asset and will enable you to make a profit with them. There is really nothing to fear if you are well informed. If you want to continue learning about this new new global-digital economic industry go to AirBit Club. This platform was founded with the aim of educating with quality information about Bitcoin and other cryptocurrencies, to know about their origins, their benefits, and to teach people how to use them and take advantage of them. Currently less than 1% of the world’s population uses cryptocurrencies, but those who already do so are conquering their financial freedom in this era of vir tual revolution.
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