Company Enables Artists to Sell Unlimited Concert Tickets by Using Blockchain-Powered VR
Mar31

Company Enables Artists to Sell Unlimited Concert Tickets by Using Blockchain-Powered VR


The company allows artists to sell unlimited ‘virtual’ tickets for fans to view the concert through a headset, removing the lost potential revenue on tickets available to be sold.

Millions of tickets are sold yearly for musiс fans to see artists of all calibers, from small venues to large arena concerts. However it is not physically possible for every fan to be able to see their favorite artist; the more popular they are, the more people miss out, as venues quickly reach capacity. Yet virtual reality company CEEK are looking to change this and tackle the issue of demand outstripping supply in live music.

Viewing the concert through a headset

According to CEEK, by allowing artists to sell unlimited ‘virtual’ tickets for fans to view the concert through a headset, the company have removed the upper limit (and therefore lost potential revenue) on tickets available to be sold. They are already available to purchase at retailers such as Amazon (and recently sold out at US retailer Best Buy), and simply connect to the user’s smartphone to allow for streaming. Since CEEK have partnered with Universal and Apple, music fans can enjoy concerts from an impressive lineup of artists who typically sell out, including Katy Perry, Lady Gaga and U2. In addition, they have partnered with T-Mobile to enable customers to use VR data-free; a seemingly small detail that will actually make a real beneficial difference for customers.

Celebrity Coin Mint

A unique and defining feature of CEEK is the ‘Celebrity Coin Mint,’ which allows artists to create unique custom virtual coins for fans, in order to purchase virtual merchandise or take part in VIP events. Artists can create these custom coins ‘within minutes’ on the CEEK platform without having to have an ICO. As each of these coins have a linked Ethereum address, the CEEK tokens act like a cryptocurrency and allow fans to possess bespoke items that will increase in value over time. Fans can also use CEEK tokens to vote for concert content. Established partners and other ticket sellers could also accept CEEK tokens as a payment method for gig tickets, allowing these tickets to be traded within CEEK and further increasing demand. The company claims, as unique minted tokens are created, demand for the service will increase, as it is not a feature offered by other crypto. Thus it is an area of potentially unlimited revenue for artists of any level of popularity.

CEEK are also decimalizing rights clearances which will allow creators to use the licensed music worldwide, further boosting revenues and simplifying the overall process.

When it comes to security, the Ethereum Blockchain provides consumers with confidence that their transactions are secure and transparent. According to the company, those using the CEEK Blockchain can maintain or trade their digital assets for a much lower price than on other platforms. The souvenir merchandise purchased by fans using CEEK have both physical and digital assets cryptographically authenticated, eliminating the risk of counterfeit goods. CEEK declare that ‘we are actually using Blockchain in the way it was intended,’ by driving this decentralized sales process and increasing efficiencies.

Future Plans and Token sale

With a formidable team at the helm (CEO Mary Spio has previously founded media platforms with clients including XBOX and Coca-Cola), CEEK’s white paper sets out ambitious plans for the future, including having their VR in use by 100 mln devices by the end of 2018. They are continuing to expand and build upon their existing infrastructure to support the Blockchain ecosystem. Their public token sale begins on April 15th. Further into 2018, they plan to enable live VR streaming of music festivals, and the introduction of a Smart Wallet system.

 

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.



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Cisco Developing Confidential Communications Via Blockchain In Patent Filing
Mar31

Cisco Developing Confidential Communications Via Blockchain In Patent Filing


IT giant Cisco has filed a patent for a Blockchain-based confidential group messaging system, aimed at ensuring more secure communication.

Cisco, a worldwide leader in IT and networking, is developing a method of confidential group communications based on Blockchain technology, according to a patent application released by the US Patent and Trademark Office (USPTO) March 29.

In the application, the company describes the way Blockchain can ensure more confidential and secure group messaging, file sharing, and tracking of membership history. The technology in the patent intends to address common challenges faced by ad hoc messaging groups:

“How group membership is established, communicated, updated, and secured from unauthorized tampering are common problems for which a construct is not available that can be effective in the context of dynamic, decentralized, and self-organizing group.” 

“This method permits ad hoc and decentralized group definition, dynamic and decentralized membership updates, open sharing, tamper resistance, and tracking of membership history.”

The method suggests establishing a secured network by using cryptographic keys. Only authorized participants will be allowed to join a group chat based on the aforementioned decentralized network.

The genesis block, which "defines the initial set of group members", is generated by the first participant. All actions of the chat, including adding and deleting members to the conversation, will be recorded in the subsequent blocks. Other possible applications of this technology suggest not only text messaging but also file sharing and even streaming media:

"In summary, presented herein is a method for achieving authorization in confidential group communications in terms of an ordered list of data blocks representing a tamper-resistant chronological account of group membership updates… There are many applications of these techniques. One such application is enabling end-to-end encryption of instant messaging, content sharing, and streamed media. This is useful in developing a protocol or application designed to enable confidential group communications."

Filed in December 2017, the document is a continuation of a previous application, where Cisco proposed to apply Blockchain to track Internet of Things (IoT) devices.

The publication of a patent application can grant the applicant certain provisional rights to the technology therein. If a patent is granted, the applicant can receive a reasonable royalty for infringing activity occurring from the date of publication of the patent application to the issue date of the patent.



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South Korea: Insurance Company Denies Hacked Crypto Exchange’s Damages Claim
Mar31

South Korea: Insurance Company Denies Hacked Crypto Exchange’s Damages Claim


The twice-hacked Bitcoin exchange Youbit has reported that their insurance claim for $2.8 mln has been denied

Yapian Corp., the operator of twice-hacked crypto exchange Youbit, has been denied their insurance claim of $2.8 mln for last December’s hack of an alleged 17 percent of their assets, the Wall Street Journal reported March 29.

The mid-December security breach of South Korean Bitcoin (BTC) exchange Youbit led the company to file for bankruptcy, with 75 percent of customers’ holdings available for withdrawal and the rest on hold until the end of the bankruptcy proceedings. The hack has been attributed to North Korean hackers, along with several other hacks of South Korean crypto exchanges. Youbit, which formerly went by the name Yapizon, was also hacked in April of last year.

A Yapian press release from March 28 says that DB Insurance, Yapian’s insurance provider, denied the payout due to what they cited as a failure on Youbit’s behalf to disclose pertinent information before purchasing the insurance policy, which Youbit sees as an excuse to not honor the policy.

The insurance policy was filed on Dec. 1, only a few weeks before the mid-December hack, covering up to $2.8 mln in damages at an annual premium of around $244,000.

The press release states that “cyber ​​comprehensive insurance” covers eight risks including; “data loss or theft, information maintenance violation liability, personal information infringement damage, cyber threat, and network security liability” Youbit’s insurance policy covered five out of these eight including; “information maintenance violation liability, personal information infringement damage, and network security liability.”

DB Insurance confirmed that they denied Yapian’s insurance claim in early February, but has not publicly stated a reason for the denial. WSJ notes that Yapian in currently being acquired by crypto wallet Coinbin.

Cryptocurrencies are a popular form of investment in South Korea. As previously reported by Cointelegraph, nearly a quarter of South Koreans in their 20s are “eager to invest in crypto”.



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Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Litecoin, Cardano, NEO, EOS: Price Analysis, March 30
Mar30

Bitcoin, Ethereum, Bitcoin Cash, Ripple, Stellar, Litecoin, Cardano, NEO, EOS: Price Analysis, March 30


Technical analysis on top 9 cryptocurrencies.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

The market data is provided by the HitBTC exchange.

The total market capitalization of the cryptocurrency industry reached $832 bln on January 07 this year, along with the talks of how it would reach $1 trln in 2018.

Fast forward three months and the market cap is down to $255 bln, a fall of about 68 percent from the achieved highs. Some analysts believe that the selling might intensify by mid-April as many will be forced to raise money to pay taxes on the gains they earned in 2017.

Analysts attribute the fall to tightening regulatory concerns around the globe and the ban on cryptocurrency-related ads by the various social media platforms.

Currently, the sentiment is negative, and it might send cryptocurrencies prices lower.

Much has been written about the dreaded “death cross” on Bitcoin, when the 50-day moving average will cross below the 200-day moving average. However, it is such a widely watched event that it might work as a contrary indicator. After all, traders who had purchased after the last death cross in September 2015 around the $230 mark smiled away to their banks as the price rose to $500 by November of the same year.

We are not suggesting to buy right away, but we believe that a bottom should be around the corner. Let’s watch the critical levels on the top cryptocurrencies.

BTC/USD

Bitcoin has broken below our stop loss of $7,600, and our position initiated at $8,800 has been closed. We had suggested long positions because we anticipated a pullback once the digital currency broke out of the descending channel, but we were wrong.

BTC

The bears strongly defended the 20-day EMA and pushed prices back into the descending channel once again.

There is a minor support at $7,000 below which the BTC/USD pair will retest the February 06 lows of $6,075.04.

However, traders should keep an eye on the relative strength index (RSI), which is entering the oversold territory. Previous declines to the oversold zone have turned out to be a good buying opportunity. Over the next couple of days, if we get a panic dip towards $6,000 or below that to $5,450.86, it might turn out to be a good place to buy for the long-term.

Investors should watch for prices to stabilize for about four hours and then purchase about 25 percent of the desired allocation. Panic dips, after a prolonged downtrend, should be used to invest. We expect the $5,000 to $6,000 zone to offer a strong support.

ETH/USD

Ethereum continues to be under pressure. The bulls have failed to even pull back to the 20-day EMA since March 05, which shows complete dominance by the bears. This has resulted in the RSI plunging deep into the oversold territory.

ETH

The ETH/USD pair is currently at the strong support zone of $355 to $385. If this support breaks, the next support zone is between $275 and $300.

As the RSI is oversold, we expect a relief rally that can reach the downtrend line. Once above this, a move to the 20-day EMA is possible.

We should watch for a couple of days before suggesting any long-term positions.

BCH/USD

Bitcoin Cash broke below the February 06 lows of $778.2021 on March 29. The next support is way lower at the $558 to $600. This level coincides with the support line of the descending channel and the horizontal support. We might see a relief rally from this strong support zone.

BCH

The RSI in the oversold zone also supports the possibility of a pullback, however, the BCH/USD pair will face selling at the 20-day EMA, which is right at the resistance line of the descending channel.

We recommend waiting for the virtual currency to stop falling before suggesting any trades.       

XRP/USD

Our stop loss in Ripple was hit when the price fell below $0.52 levels on March 29. We had expected the $0.56270 levels to hold, but we were wrong.

XRP

The next major support level on the XRP/USD pair is way lower at $0.22. The lower target levels will be invalidated if the bulls quickly push prices above $0.57 levels. Until then, all pullbacks will be sold into.

We recommend a buy when we find a particular level holding for a couple of days.

XLM/USD

Stellar has broken below the immediate support of $0.20. It is currently trying to take support on the downtrend line.

XLM

If this support breaks, the XLM/USD pair can slide to $0.16 and below that to $0.11 levels. Here, the RSI is showing a positive divergence, but we need to wait for the price to turn up before putting any long position on it.

LTC/USD

Litecoin could not hold the trendline of the symmetrical triangle. It, now, has support at the February 02 lows of $107.102.

LTC

If that level also breaks, the LTC/USD pair can slide to $84.708. The RSI is in the oversold zone. We can expect a relief rally soon, but we don’t find any buy setup now, hence, we do not recommend any trading position.

ADA/BTC

While most top cryptocurrencies have continued to break down of critical support levels, Cardano has held its own.

ADA

We expect the ADA/BTC pair to remain within the range of 0.00001690 and 0.00002460 for the next few days.

We suggest a buy position once prices close above 0.00002460 levels.

NEO/USD

NEO is trading at the critical levels of $49.04, which is the March 18 lows. If it breaks, there is no major support until the price reaches $31.15 levels.

NEO

If the support holds, there can be a possibility of a double bottom formation. Our bearish view on the NEO/USD pair will be invalidated if the prices sustain above $65 levels.    

EOS/USD

EOS continues to exhibit strength. Prices are trading close to the 20-day EMA. If the sentiment improves across the sector, we expect the virtual currency to break out of the resistance line of the descending channel.

EOS

On the downside, $5.1801 is a strong support, below which a retest of the $4 levels might take place.

We retain the buy recommendation on the EOS/USD pair at $7.5, for a target objective of $11. The initial stop loss can be placed at $5.

The market data is provided by the HitBTC exchange. The charts for the analysis are provided by TradingView.



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Crypto Start-Up Allows Businesses To Buy Ad Space Using Ether, Pixel By Pixel
Mar30

Crypto Start-Up Allows Businesses To Buy Ad Space Using Ether, Pixel By Pixel


A start-up wants to create a rich patchwork of brands, products and personalities in an image that is seen by millions of people.

A new project is aiming to create a “billion-dollar picture” by launching a cryptocurrency-powered advertising space that is open to everyone.

CryptoPicture is a 1,000 pixel by 1,000 pixel image where businesses and individuals can purchase a block to publicize themselves – personalizing it with a logo and a link to their website. Over time, the company aims to amass a rich patchwork of brands, products and personalities.

The start-up has bold plans to give each advertiser “huge exposure” and international reach through an array of platforms, with the ultimate goal of making the picture visible to millions of prospective customers.

How pricing works

Advertising space in the CryptoPicture can be purchased using Ether, with the cost per unoccupied pixel rising incrementally as more and more of them get filled. As such, those who buy a block early are likely to get the most reasonable rates.

However, there is no plan that the space will belong to a company forever. At any time, a block that is already occupied can be purchased by someone else without the owner’s prior consent. The new buyer would need to pay three times the price per pixel set by the current occupant, with 95 percent of the proceeds going back to the people who have just lost the space. The remaining 5 percent is treated as a transaction fee and collected when the smart contract is completed.

According to CryptoPicture, this mechanism is a form of self-regulation that will ensure the image stays “healthy” and fresh – regularly giving something new to those who view it. When the image is completely full, it means major corporations would be able to snap up the most prominent spaces with ease.

The company believes that tech-savvy companies – especially those in the Blockchain and cryptocurrency sectors – will likely be early adopters of CryptoPicture, with the image initially being given a prominent showing in the crypto community. However, over time, the start-up hopes to pivot to the public at large – incentivizing major consumer brands to advertise in the process.

Getting CryptoPicture “literally everywhere”

CryptoPicture was founded by Victor Sazhin – an inventor with a track record of creating web products which have made the Alexa Top 1000. As well as being behind Free Download Manager, a popular open-source application for Windows PCs, he created the Photo Lab app for smartphones.

Photo Lab has more than 10 mln users every month, and Sazhin plans to “heavily feature” his latest venture through special effects on the app. As a result, the company says “users who edit their photos with those templates inside Photo Lab will promote CryptoPicture themselves.”

The plans for promotion do not end here – with CryptoPicture hoping to end up on billboards, be featured in art museums, and maybe even be painted on to F1 cars in the future.

CryptoPicture argues that such ambition means that even corporations who spend millions of dollars’ worth of Ether on advertising space could get exposure which represents value for money compared with a conventional campaign.

Pixels go on sale

CryptoPicture’s presale has now been completed and gathered $3 mln, according to the company. Advertisers who have already taken out space include Freewallet, HitBTC, Informer.com and BlockShow. Pixels are now available for anyone to buy.

The company says it is willing to welcome many forms of advertising – from artwork to initial coin offerings. However, in time, it hopes to ensure that inappropriate content featuring violence, bad language or pornographic material is regulated by giving voting rights to block owners. The amount of influence that an advertiser has would be tied to the amount of pixels they own in the image.

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.



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