Smart contracts are already changing the way agreements are made in the digital world. Built on the Ethereum platform, they take out the middleman and execute on contract terms automatically, based on rules put in place. This technology has the potential to shake up a wide variety of industries from finance to healthcare.
Learn a little more about the companies already using smart contracts because those who are evolving and innovating now will be leading as adoption goes mainstream.
Slock.It is changing the way the sharing economy works thanks to smart contracts. Businesses use Slock.It to automate sharing, payments and rentals. Their most recent work with Share&Charge is a great example of how Slock.It works: Share&Charge uses their smart contract technology to automate the process of paying to rent electric vehicle charging stations.
Slock.It is also developing a Universal Sharing Network (USN), which will be an open-source network where blockchain application modules can be deployed. When complete, it will facilitate the sharing, allowing 3rd parties to add any object (service, product, etc.) to the network. When complete, the process is simple for users. According to their website:
- Open the app > Find object > Pay for it > Use it
- Use only one key (your smartphone) for everything
- No need to register or login for the service
The French airline, AXA, is taking flight insurance to the blockchain. The idea is simple: it can be challenging working with airlines to get compensated for late flights, even if you have travel insurance — and even then, it can be a headache depending on why the flight was delayed.
With Fizzy, if your flight is more than two hours late, and your airline details are loaded into the app, you’ll get automatically notified with compensation options. Once you make your compensation choice, the money is sent directly to your credit card.
This use of smart contracts is based on parametric insurance, in which users are not compensated for total loss, but rather, loss outside the traditional rules of insurance. This insurance is based on a triggering event. With Fizzy, that event is the flight being more than two hours late.
Right now, this product is only available for flights between the U.S. and Paris, with plans to expand in 2018, and you do need to pay a subscription fee.
This Vancouver startup calls themselves, “The smart contract creator,” and allows users to build their own smart contracts. They launched their “contract wizard” with 500 pre-registered users, who can access pre-made templates in their beta product.
The best part is you don’t need any prior smart contract or programming knowledge to create a number of contract types, including “create peer-to-peer escrow contracts, wagering, token creation, supply chain management, real estate agreements, contractor agreements and more.” This product allows companies to adopt the technology quickly and easily, streamlining processes, mitigating risk, and more.
Buying and selling real estate is a commonly discussed use-case for smart contracts and Propy is one of the first companies to actually make it happen. They had their first transaction in September of 2017, when someone purchased a $60,000 apartment in Ukraine.
This “across-borders” real estate marketplace allows owners and brokers to list properties, where buyers can also search and negotiate the sale. Both parties participate in the smart contract together and specific steps are taken throughout the process to ensure fair and legal play.
For example, an interested buyer can reserve a property by paying $5K to the escrow company currently holding it — thanks to terms of the smart contract, the buyer will get that money back if the seller refuses to sell the property. All paperwork and signatures are facilitated remote, through the app, making it easy to buy and sell property, regardless of where you live.
Other players, like licensed money transmitter companies, are involved to legitimize the process and verify transactions. Titles are still sent through local authorities as well, ensuring that every piece of the process follows necessary and legal protocol.
Invoice financing is a way for business owners to get their money from unpaid invoices. Invoice buyers pay up front to takeover the invoice for the business and then gets paid the original amount when the debtor pays the invoice. Populous is taking this process, which is currently localized and represents a small space in the market, global, making it easy for anyone to buy and sell outstanding invoices on the blockchain using smart contracts.
The benefit of removing the middle-man, and using smart contracts, is the speed at which the process can move while mitigating the risks, including manual human error and duplication of invoice financing. Within Populous, once the invoice seller uploads the invoice and terms, buyers simply choose to finance the money and all transactions are automatically facilitated via smart contract terms.
PolySwarm’s decentralized threat intelligence marketplace, the first of its kind, will run seamlessly thanks to smart contracts. When enterprises and ambassadors post their bounty, they’ll specify a reward (in Nectar, our utility token) for the person who submits the correct assertion. When the security expert does so, and their assertion is determined to be accurate, the funds are automatically released to the expert.
This allows us to incentivize innovation within cyber security, providing more accurate and effective threat protection.
When we think about bitcoin and which countries interested in bitcoin the most, most of the people think about native English countries and China (admit it)
After following google trends, Similarweb and few more websites for over a year I can tell you that this post gonna change your mind.
Before we start, you will need to understand how Google Trends data is adjusted? according to their official website:
How Trends data is adjusted
Trends adjusts search data to make comparisons between terms easier.
Search results are proportionate to the time and location of a query:
- Each data point is divided by the total searches of the geography and time range it represents, to compare relative popularity. Otherwise, places with the most search volume would always be ranked highest.
- The resulting numbers are then scaled on a range of 0 to 100 based on a topic’s proportion to all searches on all topics.
- Different regions that show the same number of searches for a term will not always have the same total search volumes.
The picture below will show you how which countries searched the most for the term ‘ buy bitcoin’ in the last 12 months:
Nigeria – 100
Ghana – 91
Australia – 49
Singapore – 43
South Africa – 43
Let’s Get Deeper Into the Data:
So we have 3 countries from Africa: Nigeria, Ghana, and South Africa.
1 country from Asia: Singapore. And Australia.
I want to mention again this rule by Google Trends:
Each data point is divided by the total searches of the geography and time range it represents, to compare relative popularity. Otherwise, places with the most search volume would always be ranked highest.
It makes sense because, without these rule countries like USA, India, China and more will always be number 1 on google trends list.
” In Nigeria, local traders and activists believe this new money presents an opportunity to democratize the economy. This is propelled by the fact that people in Nigeria have been failed by conventional money.”(source see also “Kenyan President Nominates BitPesa Board Member for Cabinet” )
with a population of more than 192 million people that sees bitcoin as a better alternative for their own economy, it makes sense the Nigeria and other countries with a poor economy will choose bitcoin as the first alternative solution.
Let’s have a look at the most popular cryptocurrencies exchanges:
Poloniex is leading with 23.5 million visits (which today while writing this posts the number increased to 30.6 million).
Vietnam, South Korea, Nigeria, Ukraine, and Pakistan are the top countries on google trends for the term ‘ poloniex.com’.
The beautiful thing about bitcoin and the cryptocurrency market is that finally after thousands of years money have no borders, and it doesn’t controlled by any country.
I’m sure that we will see virtual currencies much more popular in Asia, Africa, and east European countries in the near future.
If you found this post useful, check out our free trading tool.
The fear of virtual money – Bitcoinphobia :
If you’re into bitcoin, cryptocurrencies, and blockchain you probably face the same problem: many of your friends and family members don’t understand what you’re talking about. I found it quite hard to explain people about the blockchain, what is cryptocurrencies and why bitcoin has value. And even after they do, many of them are afraid of this kind of technology and virtual money.
It made me start thinking, do we always afraid from this kinda of innovations? like when apple asked us to putt our credit cards information to open apple id account for the iPhone? back then it seems strange but now it’s just the norma. Well, it made me eventually start writing this post: The fear of virtual money – Bitcoinphobia .
In this post, I will show you few cases from the past of innovations that changed the way we live and faced a hard time when they released.
1) Fear of computers – Computerphobia
in the 80’s when the first personal computers arrived “computerphobia” started to appear everywhere. According to the book, Women and Computers people who had computerphobia suffered from fear and resistance from the computers.
“These can take such forms as fear of physically touching the computer or of damaging it and what’s inside it, a
reluctance to read or talk about computers, feeling threatened by those who do know something about them, feeling that you can be replaced by a machine, become a slave to it, or feeling aggressive towards computers.”
I tried to find videos of people reactions to the first computers but couldn’t find any (if you find something feels free to share it with us in the comments section). I didn’t want to leave you without a video so here is a commercial of the first television remote control! 🙂
2) Fear of Taxis –
In 1897, the first taxi with a fully functioning meter was invented. In the early 1990s taxis arrived in New York. It was difficult for people to adopt it. People said that they cannot trust the person behind the wheel, it might be ex-convicts. People were also afraid that the taxi drivers will charge them a too high amount f
or the ride.
The reaction in the early 1990s reminds me the reaction of people in the last few years to Uber. What if the driver doesn’t have the right skills? What if he will kidnap me? Maybe it will be a terrorist? that’s just a few of the reactions that I’ve heard before Uber became popular.
3) Fear of Telephones – Telephobia
You gonna love this one! It wasn’t easy for people to adopt the first telephones. The idea that you can speak with another person that locate thousand of miles from you probably made many people freaks out. Some people who suffer from Telephobia believed the telephones were used to speak with the deads. While writing this post I also found out the Thomas Edison least successful invention called “The Spirit Phone”(also known as the psycho phone). You can find more information about the spirit phone in the youtube video below and in this article (you won’t be able to find a lot of information about it on the internet!)
4) Fear of Technology – Technophobia
Technophobia began popular at the industrial revolution. With the development of new machines that were able to do the work of skilled craftsmen using unskilled, underpaid men, women, and children, those who worked a trade began to fear for their livelihoods. “In 1675, a group of weavers destroyed machines that replaced their jobs.” they were probably pissed when they realized this piece of metal is much better than them.
5) Fear of Virtual Money – Bitcoinphobia
Since bitcoin first established the young virtual currency was facing so much resistance from many directions. While writing this post I understood that we are facing the same era as when the money we are currently using replaced the gold. I’m sure the reactions were the same!
if you would like to read about people that are into cryptocurrencies that also faced fear or friends/family from the new currency check out this thread: do you know people that afraid from bitcoin and virtual currencies? share it
If you’re using our trading tool or just following CrypTrends blog you probably noticed that my passion is cryptocurrency and data. The questions for today post is Can Wikipedia Page View Predict Bitcoin Price?
A few weeks ago I came across this fact:
The total amount of content that exists in digital form is projected to grow from 4.4 Trillion Gigabytes in 2013 to 44 Trillion Gigabytes in 2020. Within the next 3 years, 40% of this content will have become Cloud resident, yet only 5% of this data has ever been analyzed.
if only 5% of the content been analyzed and there are so many companies that using data for predictions it means that there is so much more potential in this field and we are only at the beginning.
The frequency of web searches generally reflects the public interest in a particular topic. Search logs are therefore useful resources for trend analysis. However, the access to search logs is typically limited to search engine providers.
One of the best tools that search engines do provide us is Google Trends that helps us to understand when a specific key term becomes popular on the google search. The only problem is that google trends have many restrictions, we cannot obtain a set of all trend keywords for a specific date.
To do so, we would have to burden Google servers by querying all possible keywords that may have been popular on that day
Because of the restrictions we are not able to 100% rely on the information they provide us. that’s why we should also use different methods. According to Alexa, Wikipedia is the 5th most popular site on the internet. The reason I choose Wikipedia is that it’s an open data source and you can get access to all the information.
When I started my research and asked my self, “can Wikipedia pages views predict bitcoin price?” I didn’t know how valuable the results will be to me and CrypTrends. I found a strong correlation between Bitcoin price and Wikipedia search views. I Also came across an interesting article that dealt with the same subject.
In order to understand the idea behind how can Wikipedia page view predict bitcoin price, I decided to make a simple infographic for you:
This Twitter Influencer Affect Cryptocurrencies Price:
The most important thing as a trader is to understand when it’s a good time to get into a position and when it’s a good time to sell.
What I’m gonna share with you now is based on my experience as a trader.
“Pump and dump is a scheme that attempts to boost the price of a stock through recommendations based on false, misleading or greatly exaggerated statements. The perpetrators of this scheme, who already have an established position in the company’s stock, sell their positions after the hype has led to a higher share price. This practice is illegal
As a trader, being able to predict when the next pump and dump gonna occur, you can avoid losses and end up making some GREAT returns.
How can you find events such as this? In my opinion, you need to be lucky and you need to follow Twitter Influencers on Twitter and recognize tweet pattern that repeats itself.
Before I will share with you one pattern I found that will help you to recognize a pump & dump event when it occurs and hopefully make some profits, I made an infographic that will explain to you what is Pump and Dump
Can google trends predict cryptocurrencies movements?
When I started to follow the cryptocurrency market I was wondering: Can Google Trends Predict Cryptocurrencies Movements? The answer was yes. I will tell you how I got to this insight.
I come from the marketing world. In the last few years, I’ve been using tools to measure how many people looking for a specific key term on the internet. it helped me to understand the potential of a specific niche. for example, if I wanted to open an online store that will sell organic tomatoes I will check first on sites like google trends, google keyword planner, and ubersuggest.
I will check the competition in this niche, and how many people searching for it. why? because then I will be able to understand the supply and demand. Understanding the supply and demand it’s the fundamentals of deciding if the niche is profitable and how difficult will be to earn money in it.
for example, a few months ago the price of bitcoin climbed above 2000$, because so many people heard about Bitcoin this week I found that the search terms “Coins similar to bitcoin”, “Alternative to Bitcoin” and search terms that close to it raised by thousand percentages!!
That’s because people googled “Bitcoin Price” and saw that it’s 2000$+.
Most of the people probably not familiar with trading virtual currencies and they don’t know that’s possible to buy 0.001 bitcoin, so they think that bitcoin is far too expensive for them and they are looking for an alternative.
Above: google trends graph, shows the popularity of the search term ‘ethereum price’.
Etherum was the second largest cryptocurrency and when people google it, Etherum when up from 131$ to 367$+ in less than a month!
Why I’m Sharing This?
We established CrypTrends in order to provide new & experienced traders insights about the cryptocurrency market. We believe it’s possible to use fundamental analysis in order to predict the movement of cryptocurrencies.
We are working hard to build a super useful free tool for you guys! The tool will gather data from all over the internet and summarize it so you will get a beautiful yet simple trading insights that a 4-year-old can understand.