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Bitcoin’s Legal status

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Technically Bitcoin don’t need legality, but few countries are less amicable towards the computerized money (digital currency) than others. A few governments have begun creating administrative and regulatory frameworks for cryptographic currency, others boycotted digital currency; and numerous governments have not taken an official position on the innovation.

The stance of some major nations and their administrative position regarding Bitcoin is as given below.

United States

The United States has declared it an asset similar to that of stock, and the federals have not taken any stance on Bitcoin. This made it qualified for capital gains tax than income tax.

Bitcoin use is lawful (legal) in each of the 50 states. However, some state governments have started controlling bitcoin-based organizations by either applying existing licensure directions to them or creating unique guidelines for the organizations.  

A few expresses that apply existing controls to bitcoin have endeavored to indict people selling bitcoin in a distributed manner (peer-to-peer). As indicated by experts in those states, the people being referred to worked as unlicensed money transmitters, in this way abusing the states’ monetary licensure laws.  

China

The Chinese government’s association with Bitcoin is regularly examined and as often as possible misunderstood. In late 2013 and start of 2014, the People’s Bank of China reported it would not permit its customer banks to exchange specifically with Bitcoin organizations — blocking account exchanges for exchange customers. In 2014, the government likewise asked for Chinese cryptographic money trades not go to the principal Beijing Bitcoin Conference, and issue a joint articulation cautioning clients against risky speculative investments.

 Opposing to widespread belief, China has never “banned bitcoin”. More recently, arms of the Chinese government have demonstrated a warmer attitude to “blockchain technology”, saying China has natural advantages in hardware and innovation it should leverage to become a leader in the space. The Ministry of Industry and Information Technology (MIIT) published a blockchain research paper in October 2016.

Australia

The Australian government has received a receptive way to deal with Bitcoin and digital currency up until this point. It even held a Senate request, which closed the nation should regard bitcoin as (legal) money, or like an outside currency. 

Bitcoin still faces a couple of obstacles in Australia. Initially is the nation’s Goods and Services Tax (GST), a 10% deals charge connected to local consumer products and services. Since bitcoin is dealt with as a “supply” instead of “cash”, its sales might be taxed. This has constrained Australian trades to charge a premium for bitcoin deals, and thus driven customer offshore. 

Maybe the principle obstruction to bitcoin development in Australia originates from the private banking sector. Bound by strict KYC/AML directions, large banks have consistently and singularly shut accounts having a place with Bitcoin organizations and individual dealers. Indeed, even consistent new businesses with friendly banking relationships confront this if a solitary client takes part in any fraudulent activity.

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Blockchain Technology can save Billions in digital advertising

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Approximately $14 billion of all mobile ad spent in 2017 was potentially fraudulent


Digital advertising industry is fighting with problems like Fraud, lack of control over data privacy and extreme complexities in supply chain.On one side advertisers are losing money in ad frauds and on the other side they can’t even control their own ads due to problems in supply chain , related to middleman and third parties.

Digital advertising industry needs transparency and what’s better than Blockhain Technology!

Blockchain technology can help digital advertising industry in many ways, here are some important ways through which Blockchain Technology can resolve these issues of transparency and trust.

Data Protection 

Cambridge Analytica fiasco took everyone by surprise, facts were shocking and after that users are cautious than ever, governments are trying their bit to improve the security of users with initiatives like General Data Protection regulation but that’s not enough. Data privacy is still a big issue because people tend to enter their personal information on multiple websites and that makes their privacy more vulnerable as security breach in any one of those websites can lead to stolen data.

Blockchain Technology provides them opportunity to store their sensitive information at a safe place. One of the best examples of this technology would be a highly encrypted decentralized data base for personal information that eliminates the need of reentering the same data and information multiple times. People can access their information with a private key and they can decide themselves what to share and with whom, making this entire process more secure and transparent. Advertisers on the other hand can use this technology to show users how their information is being used so that they can build trust with the users.

Fraud Prevention 

Ad fraud is one of the biggest problems digital advertising industry in facing, exact numbers of ad fraud may vary from source to source, but it has been estimated that in 2017, as much as 36% of the digital traffic was fraudulent and as much as $40 billion were spent on mobile advertising, so around $14 billion of all mobile ad spent in 2017 was potentially fraudulent.

A digital ledger of transaction enabled by Blockchain Technology is the solution for this problem. Each transaction of the digitized product is stored on that ledger and no one can fake or change the fact. Every transaction is recorded only when all parties agree. The ledger is decentralized which means no single party can influence the ledger in negative manner. This process brings transparency and advertisers can easily monitor where ads are going and what’s happening to them.

Improved Supply Chain 

In good old days, advertising supply chain was a simple process but not anymore, digital advertising supply chain is a complex phenomenon now, 3rd parties, advertising agencies, middleman came into the industry and made the entire process difficult to understand for advertisers, and these days most of the advertisers don’t even know what’s happening to their ads and they feel that they are losing their control over ads. Decentralized ledger can help all the parties and will be able to record each and every party involved in the process from advertisers to publishers. This process will enable advertisers to regain control over their ads with transparency.

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Tether is the winner in this bear market

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Crypto market is suffering from one the worst phases since it’s inception and almost every crypto currency is down this year. Tether, a coin which is often referred as a Stablecoin and known as the safe heaven crypto currency is the actual winner in this rough patch.

Market cap of this crypto currency increased significantly since start of the year, at the start of 2018, market cap of Tether was around $1.38 billion, which is now at around $2.8 billion, shows more than 100% growth in market cap.

According to the official website of Tether, it is a token which is backed by the actual fiat currency assets in US dollars, Euro and they are also looking forward to introduce Japanese Yen as well, covering all the major fiat currencies in the world.

Tether provides protection from volatility in the wild crypto market and that’s why people refer Tether as a stable coin or a safe heaven currency, just like Dollar in the real world. But, the thing is that the main purpose of a crypto currency or a token is to get rid of the Fiat currencies and the banks in order to make the entire process and ecosystem decentralized, with backing of Fiat currencies, Tether is breaking that concept and vision of free market, so that’s why critics of Tether don’t recommend usage of Fiat based token.

There’s another side of the story as well, in this volatile market where price movement of 20% in a day is just like a normal day, market needs at least one currency which is stable so that they can use that for transactions, tether is helping in that sense, exchanges, ATM’s , wallets and other players in the crypto market can now use Tether for stable transactions because there is so much volatility in the crypto market that they can’t even process transactions in the volatile market making it more difficult for the businesses to operate with volatile tokens, increasing market cap and acceptability shows that businesses are not only using Tether but they are also encouraging usage for retail clients as well. Steady growth of Tether helped this token to gain the 8th position in coinmarketcap rankings.

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52% of ICO’s failed in 2017

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According to the data compiled by Fabric ventures and Token Data, 52% of ICO’s failed in year 2017, and only 48% of them were successful.

A Total of $5.6 billion was raised by ICO’s in 2017, making it the most beneficial year for ICO founders ever, although project success ratio has dropped.

Number of successful ICO’s in 2017 were 435 with average funding of $12.7 million

10 largest projects raised 25% of total ICO’s funding 

worrying sign is that return on investment for new investors in the market is on downtrend.

Venture capital fund Fabric Ventures and cryptocurrency data provider TokenData shared the figure in their “State of the Token Market” report. 2017 saw a huge boom in companies raising money by issuing their own digital currencies, which are structured similarly to bitcoin, in return for funds to build their business. These “coins” can then be traded freely on online exchanges, offering greater liquidity to investors than traditional equity investment.

“More than $5.6 billion of capital was raised in 2017 according to the metrics used by the TokenData team,” the report says. “This compares to $1 billion of ‘traditional’ venture investing in blockchain startups in the same time frame and a ‘mere’ $240 million raised by token sales in 2016.”

ICO

Fabric Ventures and TokenData found 435 successful ICOs out of an attempted 913 last year — meaning just 48% were successful.

The average amount raised was $12.7 million but the report notes: “Collectively, the 10 largest sales raised close to $1.4 billion and roughly 25% of the total capital raised in 2017.”

Almost a third of funding went towards blockchain infrastructure projects. The biggest ICO of last year was Filecoin, a project to build a decentralized data storage solution based on the blockchain. The project raised $257 million in September.

The majority of people investing in these ICO projects have been retail or small-time investors but institutions are increasingly looking at ICOs due to their eye-catching returns.

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