Congressional democrats have sent a letter of concern to Facebook about their planned cryptocurrency project ‘Libra’ and Rep. Maxine Waters (D-CA), the chairwoman of the House Financial Services Committee intends to hold hearings. More to come.

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Crypto is hitting mainstream retailers.

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CEO Jack Dorsey explains to Congress why some of his team have looked to blockchain for potentially correcting some of the issues on the Twitter platform. Watch Here.

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It’s true. A majority of blockchain only businesses will fail. Here are a few reasons why.

1. The market is saturated with ICO’s claiming they have the secret to a great decentralized model.
2. There is no MVP (minimum viable product) or the opportunity for one.
3. The blockchain business requires an immediate following to attain operation.
4. Too many blockchain projects, not enough blockchain developers and cryptographers.
5. Great marketing, not so great product development.

“news.Bitcoin.com can report that 46% of them are effectively dead already — despite raising over $104 million.”

That’s half of the competition in 2 years or less. It will be interesting to see those numbers in 5 years, because they will be much higher.

This is not to say great projects don’t exists, among the pile of bad apples you can find some truly amazing companies with fantastic work on blockchain development.

Remember that blockchain is not a product or service. It is merely a facilitator of that product or service. It is the backbone for services to enter a decentralized setting.

This is a trap I did not want NewCurr to fall into, so we decided to take a different approach to our offering.

We decided to build a blockchain (the foundation), coupled with new apps (the products and services).

At first glance, a long whitepaper can be confusing, cumbersome and ultimately time consuming.

While we put as much work into our own whitepaper as possible, we understand not everyone has the time to read it, and at times a whitepaper will talk about concepts that don’t clearly get the point across.

We’re a company that has a more complicated offering at launch than most of our competitors, but our reasoning for doing this is quite important.

So, I will explain how our assets, blockchain, and new apps work together.

My hope is this article will do that.

Proprietary Assets

We have spent several years developing patents that could give us an innovative edge on blockchain services.

One of which is called “The Social Finance Network” this is the worlds first blockchain patent designed with social networking features that are geared toward financial well-being. We will release more information about this asset overtime.

We have several apps being developed with this patent, including a partnership with DebtMet, a business dedicated to alleviating student debt.

Our other patent being develop, dubbed the SIN Protocol, is a patent being completed with the aim of working on an innovative cryptocurrency conversion system. Information at this point is confidential, but following the patent process we will discuss more about this asset.

The Pallas-Athena Blockchain

NewCurr’s native blockchain which is being built, called the Pallas-Athena Blockchain, is design as a decentralized and accessible information system.

The goal has been to create a base layer structure that will allow other apps not created by us to adopt our system, therein growing our community and the amount of information being processed by the blockchain.

We also wanted to insure that those monitoring the information being processed, such as miners, would be rewarded for not only assisting our native apps, but any apps that join our community.

This blockchain is complex, to get a complete understanding please check out the full whitepaper.

More Apps, More Information

The premise is simple.

The more apps that join our network, the more accesibility to information.

This strengthens our open decentralized search engine.

Why do we need a Cryptocurrency then?

Our native cryptocurrency, the Pallas Coin, acts as a unit of accessibility.

Think of it like a membership card.

When you own Pallas Coin, you have a membership to the apps that have partnered with us and their more advanced features.

This also gives you advanced access to our native applications.

All apps can be accessible to the open public, without our cryptocurrency, but we want to motivate more value for the advanced membership features.

This is how we use the concept of a utility token.

Why Native Apps?

If I believe this blockchain can work as a true decentralized information sphere using various outside apps, then we need to prove it. The best way to prove this point is to create in-house apps that will not only show the blockchain as operational, but those apps have features that benefit the community in a multitude of other ways.

Who Benefits?

For Businesses- Apps are enhanced by our blockchain over time based on the wealth of information that is transparent and collected into a open search engine. These enhancements come from knowledge that can increase the productivity of an app. They will also have access to an immediate community that is being rewarded for communicating information across the system. This works like a marketplace for data.

For people- Having access to vast amounts of open data and a marketplace of cool new decentralized apps provides a wealth of opportunity for everyone. The information is vetted and consent based, which is more people oriented than typical centralized data networks.

Media And Satellite Capabilities

One of our first native apps, MediaCurr, is a media portal that integrates entertainment organization, networks ETC with Blockchain capabilities. We also have partnership access to a satellite platform for coverage and audience.

There is currently no other offering like ours on the market for decentralized media and news!

This app will launch with the first form of content being a 24 hour TV News Network. This station will present some of the most engaging stories, videos, talks, reviews on all things crypto and blockchain. That is just the beginning, with this news network branching into E Sports and a plethora of other genres to bring about the awareness of some really cool new entertainment.

Not only will this station have satellite capabilities reaching 275 million households, but it will be the only major news network that integrates blockchain into its core foundation.

If you want to know more about this project please read the full whitepaper. We will be doing some press about this offering quite soon and we’re excited to show it off.

First Product With MediaCurr: CBNN

The Social Finance Network And DebtMet

This app is a social network with upgraded finance tools that are revolutionary in the world of social media . All of this being developed with decentralized technologies.

We were keen on creating tools that are not only provided by us, but services that can be created by the community and other businesses.

If we’re going to allow community members and businesses the ability to financially help one another, we need to build a distributed reputation network. The best way to build a good reputation, and provide a service to the community, is to have a collection of transparent and trusted data on multiple clients and services created by the ecosystem. Thus the Pallas-Athena Blockchain.

Protecting The Investors And Community

Ensuring our community and investors can join our network with as much financial safety as possible was and is a top priority.

We believe that we do this by creating in-house apps that are self sufficient, and grounded in the needs of people. We wanted the apps to operate even in the circumstance of no blockchain technology. Our apps such as media and financial are core businesses that people connect with daily.

NewCurr is about innovating things that people want to use. We do not work with applications or blockchain technologies that are novelty. The need for innovative businesses is equal to decentralized foundations.

In The Event Of No Blockchain

While we believe we’re creating a one of a kind blockchain information system, everyday there is a new bright mind entering the scene that is already working on the next best blockchain tech.

99% of the companies only offering a blockchain are competing in a rat race that they just can’t win!

New decentralized apps are our core business, and the Pallas-Athena blockchain is a way for us to present that innovation and adhere to our moral mission of transparent data.

[1] https://news.bitcoin.com/46-last-years-icos-failed-already/

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Video Games…and Cryptocurrency? An Analysis

If you’re like me, a complete video game nerd to the core, you probably had an advantage fundamentally understanding cryptocurrency when it was first widely introduced. For years, gaming studios and publishers all over the world were introducing their own in game digital currency, which could only be bought by trading in your fiat. Does that sound familiar? You could then use the currency in-game, whether it be for costumes or slight opponent advantage.

Then came the loot boxes, a much more randomized system where a player will purchase in-game currency → buy a loot box with random items → pray they landed a much more expensive item for half the price. I will leave the issues with loot boxes to regulators, since many state it greatly resembles gambling.

This in-game currency system for opponent advantage or social status has become the core business model for publishers, rather than the actual game itself.

Let’s use the crazy popular last man standing game “Fortnite” as an example. They use a free to play model. In this model, the game itself is completely free to download and enter. However, if you want the premium content and offers, get ready to shell out $5 minimum. For even better content, expect to be spending monthly. This goes against the old models for revenue, where you payed $60 for the complete game and that was it. At face value, it may seem like the publisher is sacrificing revenue to generate player activity, but that is not the case. “Fortnite now has 45 million players and over 3 million concurrent users” [1] Lets break this down.

Forget the 45 million players, because games only incur revenue with active play. Now, lets assume only 1.6 million concurrent players out of 3 million purchase V-Bucks (their in game currency)

1 million players spend $10 dollars a year in V-Bucks = $10,000,000.00

500,000 players spend $15 dollars a year in V-Bucks = $7,500,000.00

100,000 players spend $30 dollars a year in V-Bucks = $3,000,000.00

That’s $20,500,000.00 in yearly revenue from ONLY HALF their free to play user base of concurrent players. The other half of purely free users can bring in revenue from word of mouth and streaming on platforms such as Twitch. We can probably assume this is a low ball estimate in revenue. Please note that these are speculative numbers and the dollars spent per player is not open data; but the numbers I’ve chosen are reasonable for a typical gamer.

This is much more profitable then the $60 per game model. Free players may think they are playing at a discount, but many are spending far more at the end of the year! If you spend $10 a month (which players tend to do) on in game (rather than $60) than you can expect to pay double for the same game.

So, how does this relate to cryptocurrency and blockchain technology? There are many cryptocurrency organizations and business that want to evolve into game money and further into full cryptocurrency with trading capabilities that are reflective of popular videogames.

I think it is important for us to consider an analysis to determine if this is a needed technology for videogames, or if its obstructive to the already thriving entertainment. Here I will present an analysis whether cryptocurrency has value when it is deployed for a videogame? How would it effect the game product.

My Analysis…

Gameplay:

Crypto and blockchain capabilities won’t inherently affect the actual gameplay of a videogame. Blockchain capabilities spread as far as distributed management and recognition, neither of which are needed for the immediate entertainment experience. Art, CGI, developers and talented individuals in design ETC are the primary providers of the experience, as it should be.

The possibilities for the alteration of gameplay is if the token price reflects better items in-game that change the dynamic of the entertainment.

Let’s use a Player 1 Vs. Player 2 duel as an example.

Player 1 enters the game with the item being bought and exclusive to token A

Player 2 enters the game with the item being bought and exclusive to token B

If token A is worth more on the market than token B, then the items from token A might be completely superior. Therefore, player 1 will win automatically.

This could be a huge problem. Because if player 1 wins based on equity in the market, and not gaming skill, the entire game is corrupted. Game players will not tolerate this reality.

If the game is corrupted it will lose value immediately with the general player base. It will be a game driven by traders only.

In-Game Story:

Much like the gameplay of a videogame, the story should not be hindered by a blockchain or a cryptocurrency. There are many startups in the crypto space that want to create videogames with activity that is driven by mining. “While we won’t get hands-on time with AllMine until GDC 2018 next week, the teaser trailer clearly shows it’s just another Candy Crush clone. And Candy Crush is a clone of Bejeweled, which is derived from earlier games like Tetris and Dr. Mario. In fact, there are countless match-3 puzzle games.” [2]

I personally have not developed an opinion on the “All Mine” game and concept. Until this game is widely played or gains awareness from the community, we won’t know what affect it may have on gaming or on blockchain. I will state that this game is not story related and these are typically design driven puzzle games. This should be ok for mining potential.

The issue I present for questionable narrative in videogames comes from a moment where we may go to far. What happens when mining through gaming is so popular, that triple A titles like Halo, for example, start having mining sequences in between storytelling.

Something along those lines can completely destroy the art and talent that created it and pull the gamer completely out of the narrative.

Would you stop in between a Martin Scorsese movie to mine crypto?

Cost Of Trade and In Game Items:

In every economy, digital or physical, there is always a secondary black market economy in action. The same applies for videogames and in-game items. “ More recently, Bloomberg published a report in which they explored how Counter-Strike skin betting essentially allows teens to gamble (which is illegal) and estimated that the secondary market moved $2.3 billion in 2015 alone. It is, to borrow a term from the seminal early ’90s Disney cartoon Bonkers, bonkers.”[3]

Why does this happen? In short the answer is fixed trading. Every videogame garners a community of people chatting about it. In almost every case of a major competitive videogame (with items or rank-ups) you will find players cheating the system. With trading, they do this by placing online team bets, where players can wager their items in competition. It becomes insider trading when the losing team only loses because of a private deal before the match. A rigged match means rigged profits.

This black market is only intensified by crypto, because in this game you aren’t only playing for items, but for crypto that can be traded for real cash. This could cause real world volatility!

That’s a serious problem for video cryptocurrency. Until a solution is met, this is the biggest issue for gaming companies investing into crypto tech.

Verdict: Gaming at this point does not need cryptocurrency as a means for in-game purchase. There are many boxes to check off before taking that route, specifically insider trading within videogames.

Possible Solution: In-game currency should be tokenized only for the purpose of insuring purchase validation on a blockchain. It can also be used to insure account verification and trust on large game markets. EX:Steam accounts purchasing or downloading.

[1]https://www.pcgamesn.com/fortnite/fortnite-vs-pubg-map-players-graphics-gameplay-weapons-review

[2]https://cryptobriefing.com/video-games-mining-cryptocurrency/

[3]https://steamed.kotaku.com/why-people-are-flipping-out-over-the-counter-strike-gam-1783369102

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This piece will focus on how NewCurr is working to create a blockchain with our patent developing Proof of Information protocol. Our intent with this design is to create a network where block generation is more compatible with future search systems.
The internet was founded on structures that make the reading and understanding of data assets comprehensive and interactive for every User on a network. The ability to transform complex decentralized information into legible display is one of our top missions. Here is a brief intro on our work…
As a block is being created on the Proof of Information protocol, it will have a tag in the smart contract and Olympus Contract library (both referred in the whitepaper). The tag will allow the user to search for any block under the set parameters dictated by the type of tag. This will make the blockchain searchable for any known tags that are desired, while also ensuring the organization of the chain as a whole. As time goes on this will be applied on the macro level by putting broader labels onto the tags, thereby allowing for people to see the health of industries or any number of relative macro data points. These tags are broken down into the following.
Gene: A Gene is a single block instance and it is a part of our Macro level chain.
Chroma: A Chroma is a group of blocks that share a tag. They are subcategories of the Macro level chain.
Helix: A Helix is a collection of Chroma, where the tag shares a label. A label is a metadata of the tags.

Simplified representation of Macro Vs. Micro chain
For example, Microsoft and Apple are both tags, but they would share the same technology industry label. The helix is a larger subcategory of the Macro level chain, which can be used to show the viability of markets.
These parameters will allow for a completely organized chain with an introduction to a real-time search query system. This is a rudimentary diagram of how our software will assemble chromas and helixes from the Macrochain. All chromas and helixes will be individually searchable and comprised of their own Minichain. Minichains will develop after this process and they enrich search fields over the time that the Macrochain develops.
We will be implementing 2 variations of “Stamps” that will further introduce valuable concepts to this design.
“IIP Signature” (Information Intellectual Property Signature): addresses the tier level system that is created and implemented for the Pallas-Athena blockchain. By creating signatures for divisible information structures layered into a full block, the community can build upon immutable transactions, further validating that already existing block. This creates further trust and security in the community.
“OP Signature” (Olympus Contract Signature): addresses the Olympus Contract Library where members of our community can earn Pallas Coins for providing new variations of crypto transaction contracts. These variations include aspects of contracts relating to any NewCurr Limited Company affiliated entity or user generated content.
With Proof of Information, a user within the network can provide evidence for possession of data, as well as what that data contains. This provides noteworthy evidence for where that source of data originated and whether that data was properly created during that origination. This also has significance across multiple versions of rights; including patents, artistic ownership, Dapps ownership, or any claim that exists in a document that is circulated across the Pallas-Athena blockchain.
Any modification to a finalized document or asset on this blockchain is subject to an alert system, re-evaluation and verification process that is more restricted than the first submission. This ensures proper action and community well-being. On our Pallas-Athena blockchain, if the information asset has not been touched or modified, it will produce the same signature that is distributed across the larger Pallas-Athena system, then process it for addition to our search engine. More information on this process will be released and consistently updated.
For any questions or discussion on what we’re creating, please join our Telegram at t.me/NewCurr
For up to date news on our developments, follow us on Twitter at NewCurr
The NewCurr Team
BlockchainBusinessTechCryptocurrencyNews

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Inflation VS. Deflation: The World Stage For Crypto Buyers

For those placing their hard earned cash into potential and risky investments across the new cryptocurrency exchange market, there is a wide birth of businesses that are creating networks with an even wider variety of token supply or infinite token supply. It can be exhausting and nearly impossible to sift through hundreds of potentially captivating and groundbreaking decentralized projects. Before engaging with the prospect of purchasing into a new crypto or crypto-related business, it is important to understand that a majority of these have crypto allocations that can have significant long term problems. These cryptocurrencies, and practically all digital currency DO NOT HAVE THE SAME ECONOMIC OR FINANCIAL MODELS OF FIAT CURRENCY. WE SHOULD ALSO ACKNOWLEDGE THAT THESE TOKENS ARE NOT NATIVE CURRENCY OF A NATION STATE, SO THEY ARE NOT NECESSARILY BACKED BY SUBSTANTIAL ENTITIES.

Typically speaking, businesses with an unlimited token supply are subject to multiple examples of inflation. One of the biggest issues with inflation, which is similar to issues with fiat currency, is that it can potentially devalue the existing supply. This in effect may devalue a current members’ economic status on the crypto market, or render them incapable of future purchases. This is a negative since the constant ability to buy and sell can lead to economic growth.

Inflation within an unlimited token cap also makes it difficult for a potential buyer to estimate the risks of a cryptocurrency investment. In cases where a token has an unlimited cap, fluctuations in price occur and tend to be violent compared to those with a limited supply.

While fiat currency and unlimited token supply share some of the same problems relating to inflation, there is reason to suggest that unlimited token supply is potentially more disruptive because of its distribution capabilities.

Fiat Currency can be duplicated as much as a Government may need. However, the rate of distributing this new supply is much slower than their unlimited token counterparts. Because fiat exists as paper in the open real life market, it could take months for the currency to exchange hands and filter through an economy, which can create stabilization.

In cryptocurrency settings, a new supply can be distributed to thousands of wallets instantly.

Slow inflation has some stability in the physical markets, but rapid inflation on the level of cryptocurrency is simply not sustainable if created by developers that care more about their technology than economic well-being on a global scale.

If a blockchian developer releases a new token or coin supply over a period of time, it could potentially have resemblance to fiat currency.

This is not something we should strive for, since day trading in cryptocurrency is valued against the fiat markets. Trying to emulate fiat currency will only infect cryptocurrency trading and the multiple exchanges it resides on.

The Nation State And Cryptocurrency Organizations

Inflation is just one economic model that CURRENTLY does not work for cryptocurrency markets. It is important to point out that this article does not factor in more complicated payments such as loans. We are not including this because cryptocurrency has not reached that level of complexity yet. When it does, the models for token supply may change. 

The biggest concern for Decentralized Organizations and the unlimited token supply that exists come from Nation State laws.

The protocols that exist on a blockchain network, as well as how a “Miner” is compensated has strong similarity to a monetary policy.

Countries have their own monetary policy for their native fiat currency, and a majority don’t completely approve of borderless policy because it infringes on a countries particular economic interest or domestic markets. Beyond that, countries must meet their own type of consensus. If a country must meet their own structured financial consensus AND the consensus of a borderless currency, then there is a good chance of diplomatic confusion.

A good example is the Euro.

However, the opposing argument might be that a blockchain protocol could make amendments in accordance with a more unified borderless currency, something many nations could agree on for better economic flow.

It is important to understand that unlimited token/coin supply is very new technologically compared to fiat currency.

That is not to say that unlimited token supply and managed inflation is not viable, but at this early stage, limited token supply has less volatility in a market that is still learning.

Pallas Coin Distribution

NewCurr’s Reasoning On Its Own Network

We want to explain why we personally chose a limited coin supply, rather than an infinite supply.

Our blockchain, and its proof of information protocol, is being built on the basis that we handle the content of information as a primary objective, not as a product of a currency. Therefore, it is logical to limit the coins for this concept, because future members/node rewards are derived from their commitment to valid information and its applications on the network. We believe information, and its transparency, has a larger value within the ecosystem. This works effectively in our network because altruistic behaviors, whether made in good faith or for monetary gain, increases each coin and its value.

We also believe that our coin can work more efficiently in this system as an access token/membership value. This goes beyond the idea of cryptocurrency resembling fiat, because you’re not purchasing a Pallas Coin just for potentially gaining future value, but to access the membership of multiple decentralized applications in partnership with us. It can also be used as an access key for our future search engine. This engine manifests from the circulation of information that was created by our architects and members. AND all of this data must being transparent, accessible, and consent structured. Pallas Coin or Token is simply the facilitator for this process.

In short, a limited coin supply is the best measure at NewCurr because we’re utilizing cryptocurrency as a unit of accessibility, NOT as general currency. In the future, financial speculation from outside viewers may not just arrive from our limited coin supply and amount of traffic, but from the actual products and services we distribute that attain real world value.

The intention of this article is to invoke thought about the economic models currently in play within blockchain networks.

We do not rule out unlimited token supply as a future economic model. For now, in this stage of this new technology, limited token supply is a much safer buy because its value hinges on the products and services that are offered.

The NewCurr Team

Follow us on Twitter @NewCurr

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