Have you ever heard of a Crypto currency with the name of TRON? well TRON is up 100% in one day alone reaching the market cap of $10 Billion as 4rth Jan 2018, making it the 10th most valuable Crypto currency in the world.
Forget about Bitcoin, these smaller coins are making massive gains for the investors, TRON is a crypto currency focusing on worldwide free content entertainment system by integrating Blockchain Technology is up as much as 110% in a single day according to the data compiled by coinmarketcap.com.
What is TRON?
According to the official information given on the website
TRON is a blockchain-based decentralized protocol that aims to construct a worldwide free content entertainment system with the blockchain and distributed storage technology. The protocol allows each user to freely publish, store and own data, and in the decentralized autonomous form, decides the distribution, subscription and push of contents and enables content creators by releasing, circulating and dealing with digital assets, thus forming a decentralized content entertainment ecosystem.
Peiwo App with over 10 million users will become the first TRON-compatible entertainment APP.
TRON’s team members are followers of Sir Tim Berners-Lee, who are convinced that protocol, from the moment of its invention, is an asset for human beings, rather than a profit-making tool for small groups. Hence, TRON has established the Singapore-based Tron Foundation, a nonprofit organization that mainly engages in operating the TRON network in the principles of openness, fairness and transparency and supporting TRON’s development team.
The Tron Foundation is set up with the approval of the Accounting and Corporate Regulatory Authority (ACRA) and under supervision and regulation of the Company Law of Singapore. It is run by the Board of Trustees or the Board of Governors formed by eligible trustees for independent management and operation, which is also independent from the government’s administration.
Singapore is renowned for its stable and well-established laws and financial environment. As a nonprofit entity established in Singapore, the Tron Foundation, subject to the laws of Singapore, is a legal entity having no commercial interest that supports and engages in activities for public or private benefits. The “profits” obtained by the Foundation are deemed surplus and will be retained for the organization and implementation of other activities and events. Members of the Foundation will never partake any distribution of profits.
Smaller coins but massive gains
These smaller coins are providing huge gains for the investors as they are sky rocketing with overall market trend, TRON is a prime example which gained more than 100% in single day, so if you are looking for short term gain, you need to do your research to find these opportunities.
Is Toronto Next to Accept Bitcoin for Property Taxes?
Toronto is the biggest city of Canada with a population of more than 6 million. It’s also one of the leading global financial centers which makes it an attractive place for investors.
Bitcoin has emerged as the leading cryptocurrency in the world and attracted a lot of attention from financial investors. There are many crypto exchanges and investors in Toronto, which makes it an important destination for crypto startups and investors.
Recently, there has been a surge in usage of Bitcoin in the Real Estate world as lot of companies around the world are now accepting Bitcoin for buying and selling of properties. In April 2019, Innisfil, A town located in Ontario, at a distance of about 1 hour drive from Toronto, announced that they will accept Bitcoin for property taxes at the municipal level. In July this year, Richmond Hill announced that they are ready to accept Bitcoin as a payment method for property taxes.
Evan Kuhn, Co-Founder of a Toronto based crypto exchange Coinberry believes that integration of Bitcoin as a payment method for property taxes in Toronto can reduce cost, not only for tax payers, but for municipalities as well. Kuhn mentioned
“It doesn’t cost homeowners to use the service, and it costs the municipalities far less in processing fees”
“A credit card company charges a 3% fee,” he said. “Our fee is .5%, so that’s a lot more beneficial for the municipalities.”
He further explained the entire process to make it simple for the users and for the authorities. “When a resident makes a payment through our exchange, the company immediately converts the Bitcoin into Canadian Dollars and pays the relevant authority, so in basic concept this entire process works like a credit card system but with lower fee for both parties”
Morning Crypto Roundup
- Crypto market entered into a consolidation phase, with market cap at around $265 billion, market is currently trading in a range
- Bitcoin stays above $10,000
- Gray scale reported in a recent report that there are 7.1 million active Bitcoin users worldwide with more than 32 million Bitcoin wallets.
- After Innisfil and Richmond Hills, is Toronto next to explore an opportunity to pay property taxes through Bitcoin?
- According to a report from CryptoCompare.com, Untrusted crypto exchanges are dominating the crypto volume with more than 2/3 share