Designed as an alternative form of finance and transaction, the coin is free to use, 100% secure and self-governing. It does not rely on any interaction with an authoritative body or government, putting Filipinos in control of their own finances.
The Philippines is considered to have a high rate of cryptocurrency acceptance among its Southeast Asian neighbours making it a promising territory for crypto tokens. This unique combination of openness to crypto and the lag between the banking services and financial exclusion puts Online Blockchain and its ManilaCoin in a favourable position.
ADVFN, the global stocks, shares and crypto information website and sister company of OBC, has a website in the Philippines, Finance Manila. The site represents a solid platform for OBC and the Board saw the opportunity to leverage its relationship with ADVFN’s financial communities.
The CEO of Online Blockchain, Clem Chambers, commented: “OBC is applying the tried and true strategy of thinking globally but acting locally. We are looking at different opportunities for crypto projects locally where we see a need and a community to serve. The Philippines is one of those.”
The internet never forgets: a lesson all too quickly learnt when sharing opinions online. Nowadays, as a great deal of interpersonal communication takes place on the web, personal exposure in the form of social media interaction cannot easily be taken back if you have been less than careful with your words.
South African presenter Trevor Noah knows this far too well. Five years ago, he told a joke perceived by many as racist. The clip resurfaced on the web only a while ago, prompting an outpouring of hate towards him on social media. Angry users hit back at Trevor over his comments, launching a campaign in Australia to boycott his upcoming tour.
Privacy boundaries are blurred in the online world. It is not uncommon to hear about cases of job applicants who miss out on employment opportunities because pictures and posts of a personal nature — which could be considered inappropriate for their professional image — are in the public domain.
Protecting our online reputation is indeed a tall order even for those who are not in the spotlight or have not supposedly compromised their image with polemical comments. The internet is full of trolls: those who purposely bully and offend other users online, sometimes in exchange for cash.
Just as individuals need to be mindful about their exposure online, companies’ reputations can also take a hit when they open themselves up to reviews. Over two million negative comments about businesses are made daily on social media platforms in the United States.
These days, when consumers can search and review businesses all too easily with their phones, online brand reputation is one of the most important assets a company can have. A study from Invesp pointed out that nearly 90 percent of customers trust online reviews as much as personal recommendations.
As web-based interaction becomes ever more intrinsic to our lives, authorities have recognised the importance of preserving online reputation, and as such are working towards protecting users from trolls and malicious activity online.
Right of Reply, a leading innovative online reputation platform, believes that empowering individuals to regain control and ‘tell their truth’ is the key. “The right of reply is a legitimate right granted by law. yet exercising this right is difficult, time consuming and expensive. even when exercised, the reply tends to come too late to have sufficient impact in balancing out the damaging content. it is important that every individual is in a position to reply to any kind of online content in easy, timely and cost-effective manner proportionate to the wrong or misleading content. this applies to every medium by which reputation can be damaged: press and media statements, blog articles, credit reports and social media” Right of Reply commented.
The EU has put some regulation in place to protect individuals in their battle to preserve their online image: since 2014, after a case in Spain, the European Court of Justice established the ‘right to be forgotten’, meaning that a person has the legal right to have sensitive, personal online content removed.
If a European citizen asks Google to remove certain pieces of personal information from the web, Google has the obligation to comply. Since this right was established, there have been more than 700,000 requests to Google to remove sensitive content from its search engines.
“I often think of the right to be forgotten as an obligation that falls on companies like Google,” said Michael Douglas, senior law lecturer at the University of Western Australia, as he highlights that data braches and scandals such as that of Cambridge Analytica are attracting the attention of regulators and authorities all across the world.
“It takes 20 years to build a reputation and five minutes to ruin it”
- Warren Buffett
For hundreds of years, a person’s reputation has been their most important asset. A reputation is something that can take years to build, but only seconds to crumble. We’ve seen this time and time again in the new age of social media. A study even found that 87% of executives rate online reputation management as more important than other risks. So why is our reputation so hard to protect?
Despite constant advances in technology and social media, there is still no integrated platform or service an individual can use to protect themselves from the spread of false information on the web. Unverified media sources can produce false content, with virtually no recourse. This increasing inability to determine the truthfulness of online content can be incredibly damaging to people and companies. For example, a rumour was spread years ago that Starbucks refused to send coffee to troops overseas. Despite this having been confirmed as false by the Company, it still appears frequently on social media, and the Company is still responding to queries.
@LouTiano1 From time to time this rumor seems to circulate online, but there is absolutely no truth to it. We are in complete support of our troops. For more information, please visit https://t.co/ivnLVmaKZS.
Right of Reply has a new, innovative solution that empowers individuals to directly control their online reputation. Underpinned by a team of serial entrepreneurs with solid experience in technology, a proven track record and access to capital, Right of Reply (ROR) positions itself as an innovative leading player in the online reputation space. Right of Reply brings expertise and cutting-edge technology to what is often the wild terrain of online reputation management — empowering its clients to regain control of their reputations by telling their truth.
The concept of ‘Right of Reply’ offers individuals the right to respond to any criticism made about them — in the same place that the original criticism was published. This concept is not new, yet not law in most countries. In many jurisdictions, there is no legally backed, systematic way to protect one’s reputation. Even when no one is trying to undermine the value of one’s reputation, it certainly appears that the right tools are not being made available for one to protect themselves if the potentially catastrophic spread of false information does start. In fact, 88% of adults agree that it’s very difficult to remove inaccurate information about themselves online. This is the exact problem that Right of Reply are tackling. Right of Reply offers three distinct services (RoR, RoCC and RoRKEY) that grant individuals the freedom to respond to anything posted about them on the internet in a timely, legally sound manner. Right of Reply believes that everyone should be able to tell their truth, and that their low cost, legally sound service will revolutionise the way that people manage their online reputations.
Right of Reply understands that more and more employers are checking applicants’ social media accounts, searching applicant’s names on the internet, and using the internet to find out as much as they can before hiring a person; in fact, 70% of employers admit to not having hired an employee because of online content. In 2018, we are seeing an unprecedented ability to access information that we would never have seen before. Right of Reply wants to help people everywhere make sure that the information about them on the internet is accurate and represents their truth.
Right of Reply, or RoR
ROR empowers individuals to respond to negative or erroneous online content through its suite of patented search, respond and publish tools. RoR enables the general public to access multiple perspectives on specific content, and offers media outlets protection against defamatory lawsuits.
Reply on Credit Check, or RoCC.
Typically, when banks and other financial institutions are deciding whether to grant loans, they complete a credit check to assess the risk factor of any given person. These credit checks do not reflect the unique situation of the person, and do not offer the ability to justify and explain credit history or offer any extra details. RoCC will revolutionise the way that money is borrowed by allowing individuals the ability to respond to information found on a credit check. Financial inclusion in the 21stcentury is a huge issue, and by giving individuals the power to respond to information on their credit check, add new information, and provide documentation to challenge inaccurate information, we can take a step towards a society based on fair financial assessment. This service could help countless people around the world access credit. For example, 20% of Americans have an error on their credit report. With RoCC, they will be able to correct these errors.
RoRKEY. Register of Reputation Keys
A decentralised register of reputation powered by blockchain technology, allowing anyone to store the proof of any digital content associated to their identity.
Powered by cutting-edge blockchain technology, RoRKEY has created an ecosystem centred on reputations, where users will have their own unique digital identity linked to a personal public key on blockchain.
RoRKEY gives users an online platform where they can quickly and easily address and personally reply to any negative online content, especially on unregulated media like social networks and blogs.
The software is quickly and easily integrated into many online media platforms. Platforms benefit from these innovative and easy-to-use tools by ensuring the accuracy of their content and avoiding time-consuming and expensive legal consequences from people mentioned in their content.
RoRKEY aims to become the foundation of the biggest ecosystem for decentralized and independent protection of personal rights in the realm of communication.
Social Enterprise UK is the largest social enterprise network in the UK, they are the leading global authority on social enterprise, paving the way in promoting equality through business. They firmly believe that social enterprise is the best way to create a truly equal society. This vision is something that Right of Reply enthusiastically shares — which is why they have become a certified member of SEUK.
“All businesses regardless of their set up have a role to play in creating a fairer, more sustainable world” — Social Enterprise UK
Social Enterprise UK works with some of the largest companies across both the private and public sectors. This unrivaled platform means that they can create real, lasting change. Some of the companies Social Enterprise UK work with include Santander, Johnson&Johnson, NHS England, the British Council and many more.
The services Right of Reply bring to the market come at an important point in time. It is becoming increasingly difficult to determine the truthfulness of online content and this poses a huge risk to personal reputations. RoR services finally offer low-cost and easy protection of your most valuable asset — your reputation.
Online Blockchain plc, a leading UK blockchain company, launches Buenos, a cryptocurrency for financial inclusion and challenge in Argentina. Designed to be an alternative form of finance and transaction, the coin will empower Argentinians, giving them full control of their finances.
Argentina is sliding into financial recession after three years of stable economic growth. The inflation rate for 2018 is at 25.4%, over ten percentage points above the estimates from the Central Bank. Since the start of the year, the Argentine peso is down over 20% against the US dollar, and President Macri has recently approached the IMF to close loan agreements. The Argentinian population has a history of mistrust towards banking institutions since the country’s crisis in 2001. As another recession looms, alternative forms of cash are gaining popularity.
Buenos is part of Online Blockchain’s strategy to address the opportunities in emerging markets worldwide where cryptocurrencies are gaining ground.
OBC, alongside ADVFN Brazil — a joint venture between ADVFN PLC and InfoAdvanced Ltda- recently launched Brazio, a new cryptocurrency for Brazilians. OBC has a global strategy to deploy a variety of digital currencies at a local level as it believes the real success of each application starts from the local user case and endorsement by the local environment.
By rejecting traditional banking institutions, Buenos allows its users to enjoy freedom and full control over their finances with no extra costs or hidden fees. Buenos coins can be mined by anyone with a PC or Smartphone at a 0% mining fee, and managed via the Buenos Wallet, a platform to store and transact Buenos freely and securely. Furthermore, the cryptocurrency has a mining cap at 500,000,000 coins, which is a natural anti-inflationary tool to keep valuation and exchange rates stable. OBC is planning to build up different applications on the coin as the market and the network becomes established.
Online Blockchain has pre-mined 20% of Buenos coins, which are directed into further development to ensure a full infrastructure for Buenos.
Buenos is listed on SouthXchange, the leading cryptocurrency exchange in Argentina. SouthXchange is a solid and expanding trading platform for digital currencies. It is built to support the emergence of crypto coins in South America as alternative means of finance.
The CEO of Online Blockchain, Clem Chambers, commented: “There’s plenty of potential for Buenos to succeed and become an important financial tool for the people of Argentina. Buenos is more than a cryptocurrency: it has been developed with a view to functioning as a second local coin in the long run. We think globally but act locally.”
About Online Blockchain Plc:
Revolutionising the world with cutting-edge research and development, Online Blockchain is leading innovation in cryptocurrency and decentralised ecosystems via various applications of blockchain. It is incubating exciting cryptocurrency start-ups, developing technical innovation in the blockchain space and setting the standard for the decentralised tomorrow. The company also provides continuous development and maintenance for a number of cryptocurrency projects worldwide.
The Online Blockchain team have been pioneers in the tech sector for over 20 years . Born as On-line plc, the company added Blockchain’ to its name in 2017 to reflect its new direction towards joining the blockchain revolution and its main focus in developing cryptocurrencies.
“Creating a smart network between the farmers and the outer environment is now achievable because of technology… These things are now available for us to use and create a unique solution for farming problems in Africa,” says Chris Cleverly, Chairman of Block Commodities, the UK company empowering African agriculture through blockchain-based technologies and sustainable development.
In today’s world, where traditional barriers are constantly being broken down by the latest technological and scientific advancements, we can start to see how these new innovations can be used to challenge long-standing centralised establishments that have until now towered over all sections of society.
Understanding the particular economic strengths and resources at a more local level is key to tailoring a growth plan that can addresse the untapped potential and develop a sustainable and efficient ecosystem in each country.
In Africa, a continent of more than 30 million square km, land availability is certainly not a problem. The hindrance to economic growth is found in poor management of land resources coupled with inefficient banking practices bound in red tape, leaving most of the farming population on the margins of financial inclusion.
The lack of access to services that developed countries would take for granted leaves millions of Africans unsupported when it comes to financial infrastructure. Loans, credit lines and savings accounts are some of the opportunities which remain unavailable to many.
The rise of new technological structures is here to shake up the status quo, just in good time.
Defining the problem: “Underdevelopment” due to inadequate systems and untapped resources
Agriculture is indeed a huge market in Africa: 700 million Africans are farmers. Yet, despite this figure, Africa is a net food importer, with its annual bill being $35billion, estimated to reach as much as $110 billion by 2025.
The food deficit in sub-Saharan Africa has grown 570% since 2001, reaching over US$40 billion in 2015. Twenty million Africans face food insecurity, a reality particularly tough in South Sudan, Somalia, Nigeria, Kenya, Ethiopia and Uganda.
The region’s largely unsustainable and inefficient agricultural infrastructure, commodity trading systems, and poor resources management have left farmers producing only 50% of the potential that an optimised structure could bring about.
Most farmers in Africa can produce just enough to feed their own families, unable to generate any further income. In Sub-Saharan countries, smallholder farmers represent 70 percent of the population.
On top of that, banking and financial services are a privilege for many in the developing world: there are 3.5 billion of unbanked people worldwide.
The cavalry arrives: Blockchain, technology and innovation
Block Commodities, in a joint venture with FinComEco, a fully integrated financial and commodity ecosystem, and supported by Swarm, the leading blockchain private equity fund, is working to tackle the inefficiencies within the African farming supply chain, ultimately maximising production and creating a leading Agritech ecosystem powered by blockchain technology.
Deploying blockchain technology to create an integrated commodity ecosystem, Block and its partners have developed FarmCoin, a security investment token that provides a fully regulated infrastructure to the commodity ecosystem working together for ultimate financial inclusion for unbanked farmers in Africa.
Both having extensive experience in the region, Block and FinComEco have identified the opportunity to deploy blockchain and cryptocurrencies to streamline the agricultural supply chain, with the first step being to tackle the extortionate interest rates for farmers who not could otherwise increase their production. Combining their expertise, they have designed an ecosystem aimed at increasing agricultural output within a permissionless environment, free from the constraints of financial institutions; simply empowering individuals.
However, the project is not only about making interest rates more affordable with blockchain. FarmCoin also enables a whole system with conditions which are much more conducive to optimised farming performance.
FarmCoin is about investing in infrastructure to spur economic growth in African countries via optimal farming performance. The token will provide more efficient and smoother transactions, movement and logistics, empowering wi-fi connections, data processing, soil analysis, transport and vehicle maintenance, drones and satellite — as well as supporting the development of leapfrogging technologies.
Farmers will be able to bring surplus crops to a warehouse to be sold via a FinComEco- facilitated commodities exchange. Once the crops are sold, the warehouse fees and loan interest are paid and the net profit credited to the farmer in FarmCoins, which can be exchanged for goods and services, including at educational and medical institutions.
Blockchain applications also improve the flow of information, allowing farmers and suppliers to keep production records and analyse the farming market more efficiently. Moreover, with increased consumer awareness about sustainability, carbon footprint and responsible farming, blockchain comes in handy as it allows the food chain to be tracked transparently from harvesting all the way to the end consumer.
“The whole development chain can benefit from this token,” says Hirander Misra, from FinComEco, highlighting that increased farming output has the potential to cause a significant increase in African GDP.
“It is all about getting farmers access to fertiliser and develop an efficient ecosystem where they can trade easily. Making use of an integrated supply chain and alternative means of finance, African farmers are now equipped to lift from subsistence farming to commercial level, perform commodity trading and access services to support production growth.
If we can demonstrate we can improve access and efficiencies, we can make a substantial impact in Africa” commented Chris Cleverly, Chairman of Block Commodities and co-founder of FarmCoin.
The pilot project is starting in Uganda end of the summer with 50,000 farmers, and it has full government support.
Rapid technology take-up in Africa has also helped with the success of implementation of FarmCoin. In Uganda, over 70% of people now own a mobile phone. In 2014, this figure was 52%.
FinComEco counts on the support of key technology partners, like GMEX, Saescada and Codel, who provide applications, banking platforms and software to ensure the smooth running of FarmCoin projects.
FarmCoin is designed to provide a strong foundation for farming economies across Africa and beyond, leading the Agritech sector and promoting financial and economical inclusion and growth.
The blockchain revolution keeps gaining ground worldwide. Offices in developing countries are deploying the technology to upgrade land registry systems and ensure legal compliance over property rights.
The adoption of blockchain indicates that societies are turning to alternative protocols and embracing more decentralised governances in various sectors. Among the many setbacks in developing economies is the lack of proper property registration systems. Most of the existing systems are old-fashioned and inefficient, so lack credibility to ensure legal compliance.
Land disputes are common and very often hurt the most financially vulnerable because without any legal documentation, poorer families have little resources and government support to protect their properties.
Even in otherwise legally protected territories, there can be abuse of power and lack of accountability. In the Amazon rainforest, illicit land grabbers have used fake identification to exploit local resources.
Land and farming is an important means of production and source of income for many families in the global south. The 'dead capital' which is lost due to undocumented properties is estimated at US$20 trillion around the world.
In Ghana, 78% of land is not officially registered, and in Brazil, there is no central registry for properties; these are managed instead by more than 3,000 private registry agents.
Blockchain-based systems are indeed feasible solutions for such issues. Authorities in countries in Latin America, including Brazil and Honduras have partnered with blockchain developers to introduce innovative measures to manage property rights.