However, I think none of those entities would attempt to organize something like Libra without the support of Central Banks. Facebook is taking the lead in the project because it is the one organization capable of reaching a large percentage of the world’s people instantly. Statista estimates Facebook’s social media 2.375 billion users in 1st Quarter 2019. In detail, Statista estimates Facebook itself had 2.32 billion users, WhatsApp had 1.6 billion users, Facebook Messenger had 1.3 billion users, and Instagram had one billion users in April 2019.
Emanate claims it can offer risk-free collaborations by using smart contracts. To explain, a smart contract is a digital construct built into a cryptocurrency or blockchain platform. BlockChain Hub describes a smart contract “as a computer code running on top of a blockchain containing a set of rules under which the parties to that smart contract agree to interact with each other. If and when the pre-defined rules are met, the agreement is automatically enforced.”
UFED Premium could present little threat to criminals but a menace to law-abiding citizens. Law-abiding citizens will have no defense against UFED Premium because the do not know it exists. Sophisticated criminals, however, will quickly learn of UFED Premium, and take precautions against it.
Consequently, I have to ask is Facebook really planning a cryptocurrency? I ask this question because there are serious technical and legal obstacles facing cryptocurrencies. The blockchain scalability problem is the biggest technical obstacle to a Facebook cryptocurrency. Today’s blockchains can only transmit tiny amounts of data at low speeds because all the encryption limits space. For instance, Ethereum creator Vitalik Beterin admits his cryptocurrency “can only process 15 transactions per second” (TPS), Invest in Blockchain reports. Thus, an Ethereum platform could crash if it tries to process over 15 transactions per second. Scalability could make a Facebook cryptocurrency impossible because Facebook itself had 2.38 billion users in 1st Quarter 2019, Statista estimates. In addition, Statista calculates WhatsApp had 1.6 billion monthly users in April 2019.
Statista estimates global PC/MMO (massive multiplayer online) gaming revenues at $30.7 billion for 2017. Additionally, Statista estimates 2017 revenue from MMOGs at $2.5 billion. Additionally, one category of MMOGs, Shooter online games saw its revenues increase by $237 million in North America in 2017.
Speculators need to stay away from BetDice; however, because it is an unproven business, they link to an unproven blockchain. Notably, it is not clear what social media network, BetDice will work with.
The $495 billion Statista predicts the global gambling industry will rake in, in 2019 demonstrates how irrational people are with money. Yet the prediction market operators claim their marketplaces can make rational decisions about human behavior. Consequently, I think present-day prediction markets cannot work. My guess is that prediction markets will need better data aggregation and analysis technology to work. Algorithms that could screen out human emotions or sentiments could make a prediction market effective. On the other hand, artificial intelligence or machine learning could soon provide that technology.
To elaborate the Abyss is a gaming platform that uses a cryptocurrency they call the Abyss Token (ABYSS) for payment. Hence, they intend the Abyss to be a Steem (STEEM) alternative for gamers. Steem is a platform that allows players to accept payment in its cryptocurrency.
The PIVX (PIVX) is a cryptocurrency whose creators ask “what is privacy worth?” To explain, privacy is the primary goal of PIVX. The PIVX team claims to take privacy to the…
You can now use Google Pay on the New York subway, and Apple Pay in Hungary. The Metropolitan Transportation Agency (MTA) is accepting Google Pay at some subway station ticket…
However, BitGo is big, it claims to be the world’s largest processor of Bitcoin (BTC) payments. For instance, Bitgo claims it process 15% of all Bitcoin transactions.
Harmony is constructing a blockchain platform with a built-in scalability problem solution. Essentially, Harmony is building the infrastructure before the solution.