“Positive crypto regulations will generate wealth and millions of jobs in India,” says Nischal…

“Positive crypto regulations will generate wealth and millions of jobs in India,” says Nischal Shetty, CEO of crypto exchange

In the first Financial Fox episode of 2019, crypto PR guru Stefania Barbaglio interviewed Nischal Shetty, Founder and CEO of WazirX, the most trusted crypto exchange in India. Shetty talks about the country’s ever-growing crypto scene and his online campaign to raise awareness about the importance of setting up a welcoming regulatory framework which will allow cryptocurrencies to improve the economic conditions of the Indian population.

Founded in 2018, WazirX is quickly expanding, at a 15% growth a month according to Shetty. WazirX is a Cryptocurrency exchange with an advanced trading interface and features to buy, sell and trade cryptocurrencies in India. It’s an exchange with a Live Open Order Book system that lets users trade digital assets like Bitcoin, Bitcoin Cash, Litecoin, Dash & many more.

The impressive growth of WazirX is in reality a reflection of the expansion of the crypto revolution in India. “The excitement around crypto in India is huge,” says Shetty, as he believes that there are collectively about 5 to 6 million cryptocurrency users in India, with highest concentration being among the younger population, who see crypto as the future of finance.

The current scene in India is not favourable for cryptocurrencies, although they have not been banned or made illegal by the government. The real problem now is lack of clear guidelines, as the Indian government has not been very forthcoming about where they stand in terms of cryptocurrencies, he says.

The Reserve Bank of India (RBI) prohibited banks from enabling transactions related to cryptocurrencies and crypto exchanges from having bank accounts, but despite the banking ban, manyIndians are trading on crypto exchanges. In December 2018, WarziX reported a record in trading volumes.

Rumour has it that the government will release a draft for crypto policy in February, so with over 50k followers on social media, Shetty recently started the campaign #IndiaWantsCrypto to catch the attention of India’s Finance Ministry around cryptocurrency regulations: “We need positive regulations to allow Indians to be part of the crypto revolution that is happening around the world.”

More than just calling for official regulations, the campaign aims to show the advantages that cryptocurrencies can bring to people’s lives, especially in emerging economies like India.

India has the second-largest unbanked population in the world — over 190 million Indians over the age of 15 don’t have a bank account — but has one of the largest numbers of smartphones in the world. Cryptocurrencies act at the heart of this problem: “Internet penetration is faster and higher in India — and when you have internet you have access to cryptocurrencies.”

The blockchain space offers many opportunities for youth; Shetty believes that implementing positive regulations and allowing Indian people to integrate the digital currency economy will bring wealth and millions of jobs, creating a big boost for the national economy: “Over the last 10–15 years, the IT boom created possibly around 4 million jobs in India. This same effect can be replicated now in the crypto revolution with positive regulations in place,” said Shetty.

Talks about crypto regulations have gained more attention worldwide. Recently, two major European authorities have publicly called for better assessments of crypto technology and its impacts in order to develop appropriate regulations.

More developments are expected soon in the crypto regulatory space in India. Follow us on @cassiopeia_ltd and subscribe to our YouTube channel FinancialFox.

“Positive crypto regulations will generate wealth and millions of jobs in India,” says Nischal…

“Positive crypto regulations will generate wealth and millions of jobs in India,” says Nischal Shetty, CEO of crypto exchange

In the first Financial Fox episode of 2019, crypto PR guru Stefania Barbaglio interviewed Nischal Shetty, Founder and CEO of WazirX, the most trusted crypto exchange in India. Shetty talks about the country’s ever-growing crypto scene and his online campaign to raise awareness about the importance of setting up a welcoming regulatory framework which will allow cryptocurrencies to improve the economic conditions of the Indian population.

Founded in 2018, WazirX is quickly expanding, at a 15% growth a month according to Shetty. WazirX is a Cryptocurrency exchange with an advanced trading interface and features to buy, sell and trade cryptocurrencies in India. It’s an exchange with a Live Open Order Book system that lets users trade digital assets like Bitcoin, Bitcoin Cash, Litecoin, Dash & many more.

The impressive growth of WazirX is in reality a reflection of the expansion of the crypto revolution in India. “The excitement around crypto in India is huge,” says Shetty, as he believes that there are collectively about 5 to 6 million cryptocurrency users in India, with highest concentration being among the younger population, who see crypto as the future of finance.

The current scene in India is not favourable for cryptocurrencies, although they have not been banned or made illegal by the government. The real problem now is lack of clear guidelines, as the Indian government has not been very forthcoming about where they stand in terms of cryptocurrencies, he says.

The Reserve Bank of India (RBI) prohibited banks from enabling transactions related to cryptocurrencies and crypto exchanges from having bank accounts, but despite the banking ban, manyIndians are trading on crypto exchanges. In December 2018, WarziX reported a record in trading volumes.

Rumour has it that the government will release a draft for crypto policy in February, so with over 50k followers on social media, Shetty recently started the campaign #IndiaWantsCrypto to catch the attention of India’s Finance Ministry around cryptocurrency regulations: “We need positive regulations to allow Indians to be part of the crypto revolution that is happening around the world.”

More than just calling for official regulations, the campaign aims to show the advantages that cryptocurrencies can bring to people’s lives, especially in emerging economies like India.

India has the second-largest unbanked population in the world — over 190 million Indians over the age of 15 don’t have a bank account — but has one of the largest numbers of smartphones in the world. Cryptocurrencies act at the heart of this problem: “Internet penetration is faster and higher in India — and when you have internet you have access to cryptocurrencies.”

The blockchain space offers many opportunities for youth; Shetty believes that implementing positive regulations and allowing Indian people to integrate the digital currency economy will bring wealth and millions of jobs, creating a big boost for the national economy: “Over the last 10–15 years, the IT boom created possibly around 4 million jobs in India. This same effect can be replicated now in the crypto revolution with positive regulations in place,” said Shetty.

Talks about crypto regulations have gained more attention worldwide. Recently, two major European authorities have publicly called for better assessments of crypto technology and its impacts in order to develop appropriate regulations.

More developments are expected soon in the crypto regulatory space in India. Follow us on @cassiopeia_ltd and subscribe to our YouTube channel FinancialFox.

Digibyte’s 5-year journey and what lies ahead

DigiByte’s 5-year journey and what lies ahead

On January 10th, DigiByte celebrated its 5th anniversary and completed 8.000.000 blocks and has become the largest, fastest and most secure blockchain in current existence. DigiByte has a history of constant improvement, living up to its motto of the forward-thinking coin.

Over its 5-year journey, DigiByte has repeatedly improved, setting itself apart from other cryptocurrencies with multiple blockchain firsts such as SegWit, MulitAlgo Mining and DigiShield.

“I’d argue that the DigiByte we have today is the most advanced blockchain in the world , with the most steadfast secure set up,” said DigiByte founder Jared Tate in a reflection of the coin’s five years of development.

DigiByte has one of the strongest use cases in the cryptocurrency market: DGB can support over 48 million transactions a day: 10 times the current transaction capacity of the top 50 blockchains by market cap.

Over recent months, we have seen significant progression for DigiByte, such as the implementation of ASIC Protection for Next-Generation Blockchain Mining to further decentralise the DGB network, as well as the listing on Bitfinex, one of the largest and most important crypto exchanges.

Strong community

Throughout these five years, DigiByte has attracted more and more followers because of its genuine intention to create a financial system centered around people and social value. The community-driven effort and the tremendous faith that all those involved in DGB have in the project are the key factors that make DGB so unique and compelling.

DigiByte today has one of the most connected and engaging communities in the crypto space. DGB followers have set up foundations and networks to spread the word about the mass adoption potential of DigiByte.

Last November, DigiByte enthusiasts based in the UK and Europe had the chance to meet each other for the first time and talk to Jared himself at the first UK DigiByte Event,held in central London.

Decentralisation at the heart of DigiByte

More than a cryptocurrency, DigiByte offers the most reliable blockchain structure to support transactions at an uninterrupted global level.

In fact, the ultimate objective for DigiByte is to re-build the infrastructure of the internet today. Founder Jared Tate believes that an efficient blockchain can solve 90–95% of the security vulnerabilities in the internet today. The centralised databases which support the current system, such as Facebook, Google and YouTube, act as a catalyst for single points of failure. When all the valuable information is stored in one single place, vulnerabilities to hacks and breaches increase, as well as allowing surveillance and data control from central institutions.

The solution to fix the current system would, therefore, be to build a decentralised architecture for the internet, supported by sophisticated and advanced blockchain structures. A decentralised framework is user-centered, not relying on intermediary platforms to connect users and services.

In order to support this new internet model, DigiByte is built in 3 blockchain layers:

- Applications layer: The top layer of DGB to be used in everyday, real-world applications, such as DApps and Smart Contracts

- Digital Asset Layer/ Public Ledger Layer: The layer in which all DGB transactions are stored in an immutable public ledger, providing maximum security.

  • Core Protocol Layer: The bottom layers, made of decentralised nodes across the planet, where all communication and operation procedures occur.

What’s next?

The DGB community has plenty to look forward to into the near future. The first global DigiByte Summit will take place in Amsterdam on 19th April 2019. The theme of the Summit is ‘The Power of Decentralisation’ and its agenda will expand on the multitude of possibilities and uses enabled by decentralised technologies.

Stefania Barbaglio, Director at Cassiopeia Services — official PR for DigiByte commented: “Cassiopeia is thrilled to be organising and hosting the first ever DigiByte Summit next April. DigiByte represents the true power of decentralised technologies: It offers top security, performs transactions faster than any other crypto and has one of the strongest use cases in the crypto market. Blockchain technology has unlocked a new era where decentralised networks and markets empower individuals and change society and the global economy.”

Registrations are open to DigiByte Global Summit here

In the long-run, DGB investors can be cheerful as crypto analysts say that Digibyte has the potential to reach $1 as the coin develops and its features become more sophisticated over time.

More than that, we are likely to see the increasing deployment of DigiByte platform to projects such as Antum and V-ID, which power blockchain to provide verification and digital identity services.

Keep an eye out for the upcoming exclusive interview on FinancialFox news with Josiah Spackman, DigiByte Foundation Ambassador. Follow us on @cassiopeia_ltd and subscribe to our YouTube channel.

Digibyte’s 5-year journey and what lies ahead

DigiByte’s 5-year journey and what lies ahead

On January 10th, DigiByte celebrated its 5th anniversary and completed 8.000.000 blocks and has become the largest, fastest and most secure blockchain in current existence. DigiByte has a history of constant improvement, living up to its motto of the forward-thinking coin.

Over its 5-year journey, DigiByte has repeatedly improved, setting itself apart from other cryptocurrencies with multiple blockchain firsts such as SegWit, MulitAlgo Mining and DigiShield.

“I’d argue that the DigiByte we have today is the most advanced blockchain in the world , with the most steadfast secure set up,” said DigiByte founder Jared Tate in a reflection of the coin’s five years of development.

DigiByte has one of the strongest use cases in the cryptocurrency market: DGB can support over 48 million transactions a day: 10 times the current transaction capacity of the top 50 blockchains by market cap.

Over recent months, we have seen significant progression for DigiByte, such as the implementation of ASIC Protection for Next-Generation Blockchain Mining to further decentralise the DGB network, as well as the listing on Bitfinex, one of the largest and most important crypto exchanges.

Strong community

Throughout these five years, DigiByte has attracted more and more followers because of its genuine intention to create a financial system centered around people and social value. The community-driven effort and the tremendous faith that all those involved in DGB have in the project are the key factors that make DGB so unique and compelling.

DigiByte today has one of the most connected and engaging communities in the crypto space. DGB followers have set up foundations and networks to spread the word about the mass adoption potential of DigiByte.

Last November, DigiByte enthusiasts based in the UK and Europe had the chance to meet each other for the first time and talk to Jared himself at the first UK DigiByte Event,held in central London.

Decentralisation at the heart of DigiByte

More than a cryptocurrency, DigiByte offers the most reliable blockchain structure to support transactions at an uninterrupted global level.

In fact, the ultimate objective for DigiByte is to re-build the infrastructure of the internet today. Founder Jared Tate believes that an efficient blockchain can solve 90–95% of the security vulnerabilities in the internet today. The centralised databases which support the current system, such as Facebook, Google and YouTube, act as a catalyst for single points of failure. When all the valuable information is stored in one single place, vulnerabilities to hacks and breaches increase, as well as allowing surveillance and data control from central institutions.

The solution to fix the current system would, therefore, be to build a decentralised architecture for the internet, supported by sophisticated and advanced blockchain structures. A decentralised framework is user-centered, not relying on intermediary platforms to connect users and services.

In order to support this new internet model, DigiByte is built in 3 blockchain layers:

- Applications layer: The top layer of DGB to be used in everyday, real-world applications, such as DApps and Smart Contracts

- Digital Asset Layer/ Public Ledger Layer: The layer in which all DGB transactions are stored in an immutable public ledger, providing maximum security.

  • Core Protocol Layer: The bottom layers, made of decentralised nodes across the planet, where all communication and operation procedures occur.

What’s next?

The DGB community has plenty to look forward to into the near future. The first global DigiByte Summit will take place in Amsterdam on 19th April 2019. The theme of the Summit is ‘The Power of Decentralisation’ and its agenda will expand on the multitude of possibilities and uses enabled by decentralised technologies.

Stefania Barbaglio, Director at Cassiopeia Services — official PR for DigiByte commented: “Cassiopeia is thrilled to be organising and hosting the first ever DigiByte Summit next April. DigiByte represents the true power of decentralised technologies: It offers top security, performs transactions faster than any other crypto and has one of the strongest use cases in the crypto market. Blockchain technology has unlocked a new era where decentralised networks and markets empower individuals and change society and the global economy.”

Registrations are open to DigiByte Global Summit here

In the long-run, DGB investors can be cheerful as crypto analysts say that Digibyte has the potential to reach $1 as the coin develops and its features become more sophisticated over time.

More than that, we are likely to see the increasing deployment of DigiByte platform to projects such as Antum and V-ID, which power blockchain to provide verification and digital identity services.

Keep an eye out for the upcoming exclusive interview on FinancialFox news with Josiah Spackman, DigiByte Foundation Ambassador. Follow us on @cassiopeia_ltd and subscribe to our YouTube channel.

Calls for crypto regulation gather momentum around the world

As the crypto market matures and gains relevance within the global economy, executives, investors and even public bodies worldwide are calling for clearer crypto regulations.

In 2017 we witnessed the ‘Bitcoin boom’, with skyrocketing prices and major attention driven towards cryptocurrencies.

Since the Bitcoin Boom in 2017, the crypto market has exploded with Initial Coin Offerings — the controversial ICOs — with many of those projects, under the flag of the crypto revolution, proving to be nothing more than artifice designed to trick eager investors into putting money into a business that was never realised.

Nevertheless, the high number of fraudulent ICOs is more a representation of dubious morals than a testament of the actual revolutionary nature of blockchain. The challenge posed by the introduction of cryptocurrencies and tokens has allowed for an expansion of investment opportunities for new groups of investors, as well as giving millions of unbanked people around the world an alternative means of finance.

This realisation is slowly spreading among financial regulators, which are now exploring the ways that crypto technology can be integrated into the widerfinancial and regulatory market framework.

In recent months, with the rise in the popularity of tokenised securities — a SEC-compliant class of digital assets, comparable to equities stocks — the theme of regulation is spreading across the crypto space.

At the moment, although the EU does not present a unified framework regarding cryptocurrencies — regulations vary by state members — the European Central Bank has shown plenty of initiatives in exploring ways to regulate and manage cryptocurrencies.

In the beginning of 2019 alone, two major European regulatory bodies, the European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) have publicly called for better assessments of crypto technology and its impacts in order to develop appropriate regulations.

In an official statement, the EBA said it is calling for regulations to protect investors above all, and has asked the European Commission for a comprehensive analysis to assess whether unified crypto rules are needed across the region. In addition, the ESMA’s recommendations advise the EU Commission on the current regulations which can be suitably applied to crypto assets.

In the emerging markets scene, where the positive effects of cryptocurrencies are more tangible, calls for regulation have also risen, with movements urging authorities to work on implementing and regulating cryptocurrencies.

In India, where the legalisation of digital currencies has become a divisive topic, the Reserve Bank of India (RBI) has put a ban on banks and any regulated financial institutions from “dealing with or settling virtual currencies”. The move in April 2018 sparked backlash from crypto enthusiasts, who defend their right to enjoy alternative finance means.

The CEO of India-based Cryptocurrency Exchange WazirX, Nischal Shetty, kicked off a social media campaign to attract the attention of Indian financial regulators over the need for ‘positive regulation’ ofcryptocurrencies, which provide the Indian population with an innovative, necessary and accessible tool for economic growth: “Please bring positive regulations in crypto and over 5 million crypto Indians will be thankful to you. Youth of India have found a new way to make wealth & this is especially important when there are not enough jobs for everyone,” he said.

Crypto experts have already stated that 2019 should be “the year of crypto regulation” and represents an important move towards allowing the blockchain revolution to truly thrive and improve financial practices around the world.

“Regulations are a necessary step to take the crypto industry to the next level. We have seen numerous cases of fraud and scams in the ICO space in the last couple of years, which has put off institutional investors and created a sense of distrust in crypto projects. However, with a regulatory framework in place, cryptocurrencies and tokens are no longer products of mere speculation. They have become real assets. It benefits both the investor side and companies themselves, and shows the maturity of the crypto market,” says Stefania Barbaglio, Director at Cassiopeia Services, leading crypto & blockchain PR.

Keep an eye out for upcoming interview with Nischal Shetty about the crypto scene in India and the impact of cryptocurrencies on emerging markets. Follow us on @cassiopeia_ltd and subscribe to our YouTube channel FinancialFox.

Calls for crypto regulation gather momentum around the world

As the crypto market matures and gains relevance within the global economy, executives, investors and even public bodies worldwide are calling for clearer crypto regulations.

In 2017 we witnessed the ‘Bitcoin boom’, with skyrocketing prices and major attention driven towards cryptocurrencies.

Since the Bitcoin Boom in 2017, the crypto market has exploded with Initial Coin Offerings — the controversial ICOs — with many of those projects, under the flag of the crypto revolution, proving to be nothing more than artifice designed to trick eager investors into putting money into a business that was never realised.

Nevertheless, the high number of fraudulent ICOs is more a representation of dubious morals than a testament of the actual revolutionary nature of blockchain. The challenge posed by the introduction of cryptocurrencies and tokens has allowed for an expansion of investment opportunities for new groups of investors, as well as giving millions of unbanked people around the world an alternative means of finance.

This realisation is slowly spreading among financial regulators, which are now exploring the ways that crypto technology can be integrated into the widerfinancial and regulatory market framework.

In recent months, with the rise in the popularity of tokenised securities — a SEC-compliant class of digital assets, comparable to equities stocks — the theme of regulation is spreading across the crypto space.

At the moment, although the EU does not present a unified framework regarding cryptocurrencies — regulations vary by state members — the European Central Bank has shown plenty of initiatives in exploring ways to regulate and manage cryptocurrencies.

In the beginning of 2019 alone, two major European regulatory bodies, the European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) have publicly called for better assessments of crypto technology and its impacts in order to develop appropriate regulations.

In an official statement, the EBA said it is calling for regulations to protect investors above all, and has asked the European Commission for a comprehensive analysis to assess whether unified crypto rules are needed across the region. In addition, the ESMA’s recommendations advise the EU Commission on the current regulations which can be suitably applied to crypto assets.

In the emerging markets scene, where the positive effects of cryptocurrencies are more tangible, calls for regulation have also risen, with movements urging authorities to work on implementing and regulating cryptocurrencies.

In India, where the legalisation of digital currencies has become a divisive topic, the Reserve Bank of India (RBI) has put a ban on banks and any regulated financial institutions from “dealing with or settling virtual currencies”. The move in April 2018 sparked backlash from crypto enthusiasts, who defend their right to enjoy alternative finance means.

The CEO of India-based Cryptocurrency Exchange WazirX, Nischal Shetty, kicked off a social media campaign to attract the attention of Indian financial regulators over the need for ‘positive regulation’ ofcryptocurrencies, which provide the Indian population with an innovative, necessary and accessible tool for economic growth: “Please bring positive regulations in crypto and over 5 million crypto Indians will be thankful to you. Youth of India have found a new way to make wealth & this is especially important when there are not enough jobs for everyone,” he said.

Crypto experts have already stated that 2019 should be “the year of crypto regulation” and represents an important move towards allowing the blockchain revolution to truly thrive and improve financial practices around the world.

“Regulations are a necessary step to take the crypto industry to the next level. We have seen numerous cases of fraud and scams in the ICO space in the last couple of years, which has put off institutional investors and created a sense of distrust in crypto projects. However, with a regulatory framework in place, cryptocurrencies and tokens are no longer products of mere speculation. They have become real assets. It benefits both the investor side and companies themselves, and shows the maturity of the crypto market,” says Stefania Barbaglio, Director at Cassiopeia Services, leading crypto & blockchain PR.

Keep an eye out for upcoming interview with Nischal Shetty about the crypto scene in India and the impact of cryptocurrencies on emerging markets. Follow us on @cassiopeia_ltd and subscribe to our YouTube channel FinancialFox.

UK plans to revamp digital identity system by handing over to private sector in 2020

The UK government recently unveiled plans to pass on the management of the Verify system to the private sector, after a period of unsuccessful results. Regardless of who takes over the responsibility, handling digital identities is a major task and should be approached with due concern.

In October, the UK government announced that it will ceased investment in ‘Verify’, the digital identity system. The decision was later followed by moves of opening up opportunities for the private sector to take over.

“The Government expects that commercial organisations will create and reuse digital identities, and accelerate the creation of an interoperable digital identity market,” said Oliver Dowden, Minister for Implementation at the Cabinet Office.

“The approach announced today ensures that Gov.uk Verify will continue to protect public sector digital services from cyber threats, including identity fraud, and other malicious activity. In addition, the contracts enable the private sector to develop affordable identity assurance services that will meet future private and public sector needs,”

Verify was launched in 2011 with the aim of providing a single platform for public services, from tax collection to benefits. An integrated modern ID system means that separate departments don’t have to set up their own, saving time and resources.

Although the idea behind Verify was sound, its execution has been poor and disappointing: 56% of people who try to create a Verify identity are unable to do so.

What is digital identity?

A digital identity is a set of information about an individual or an entity, stored in computer systems. This file is used to assess and authenticate the identity of a user looking to work with or access a service.

Digital identity is perhaps the single most important asset individuals possess in this age, so there is much at stake in a digital ID system. One of the fundamental problems with such systems is cybersecurity. In this year alone, half a million users had their data exposed with the hack of Google+, and another 29 million in the Facebook data breach.

On the other hand, new legislation has been put in place to start tackling the vulnerabilities within the cyber environment — one of the most significant being the EU’s General Data Protection Regulation (GDPR), which imposes hefty fines on companies and institutions which do not carefully follow the instructions set out to protect their users’ information.

Data security is a highly concerning problem because it has been growing at an exceedingly quick pace: 90 percent of the world’s data was generated over the last two years alone, while 2.5 quintillion bytes of data are being created every day.

There is evidently an urgent to develop systems that can store, support and manage such an amount of information effectively. The best approach is a collective one, where governments, companies and individuals work together.

Creating a secure and authentic system powered by blockchain

Because of its decentralisation, automated data and strong security framework, blockchain is an ideal underlying structural technology to underpin online platforms that promote more authentic relationships between users and a healthier social media environment overall.

In order to address the issue, innovative technology companies are deploying disruptive tools to build a verified, secure and fast system to integrate digital identities whilst leaving each user fully in control of their own information.

Right of Reply (RoR) is one of the leading projects in this space. Led by a team of digital identity experts, RoR is developing multiple blockchain-powered platforms that integrate digital ID into different sectors, such as financial services, online media and social networks.

RoRKey, one of Right of Reply subsidiaries, focuses on aligning digital and real identity to allow verifiable identity and truth. RoRKey offers verified digital reputation identities for registered users (DRI Standard and DRI Pro), which allow them to interact in a secure and protected ecosystem in various social communications and online media content, as well as offering a verified ID that can used for different services within Right of Reply and its partners.

Right of Reply and RorKey are planning to partner with other third parties such as financial institutions, utility and insurance companies, online payment platforms, websites and social media to use DRI Pro as the means to prove the user’s digital identity. The plan for DRI Pro is to become an officially recognised legal proof of ID.

“In the digitised economy, individuals and organisations will be recognised by their digital identities. But most importantly, we need to be able to trust the systems that store digital IDs. Blockchain is the right technology for this end: It is decentralised, effective and minimises the need for trust”. says Stefania Barbaglio, from Right of Reply.

UK plans to revamp digital identity system by handing over to private sector in 2020

The UK government recently unveiled plans to pass on the management of the Verify system to the private sector, after a period of unsuccessful results. Regardless of who takes over the responsibility, handling digital identities is a major task and should be approached with due concern.

In October, the UK government announced that it will ceased investment in ‘Verify’, the digital identity system. The decision was later followed by moves of opening up opportunities for the private sector to take over.

“The Government expects that commercial organisations will create and reuse digital identities, and accelerate the creation of an interoperable digital identity market,” said Oliver Dowden, Minister for Implementation at the Cabinet Office.

“The approach announced today ensures that Gov.uk Verify will continue to protect public sector digital services from cyber threats, including identity fraud, and other malicious activity. In addition, the contracts enable the private sector to develop affordable identity assurance services that will meet future private and public sector needs,”

Verify was launched in 2011 with the aim of providing a single platform for public services, from tax collection to benefits. An integrated modern ID system means that separate departments don’t have to set up their own, saving time and resources.

Although the idea behind Verify was sound, its execution has been poor and disappointing: 56% of people who try to create a Verify identity are unable to do so.

What is digital identity?

A digital identity is a set of information about an individual or an entity, stored in computer systems. This file is used to assess and authenticate the identity of a user looking to work with or access a service.

Digital identity is perhaps the single most important asset individuals possess in this age, so there is much at stake in a digital ID system. One of the fundamental problems with such systems is cybersecurity. In this year alone, half a million users had their data exposed with the hack of Google+, and another 29 million in the Facebook data breach.

On the other hand, new legislation has been put in place to start tackling the vulnerabilities within the cyber environment — one of the most significant being the EU’s General Data Protection Regulation (GDPR), which imposes hefty fines on companies and institutions which do not carefully follow the instructions set out to protect their users’ information.

Data security is a highly concerning problem because it has been growing at an exceedingly quick pace: 90 percent of the world’s data was generated over the last two years alone, while 2.5 quintillion bytes of data are being created every day.

There is evidently an urgent to develop systems that can store, support and manage such an amount of information effectively. The best approach is a collective one, where governments, companies and individuals work together.

Creating a secure and authentic system powered by blockchain

Because of its decentralisation, automated data and strong security framework, blockchain is an ideal underlying structural technology to underpin online platforms that promote more authentic relationships between users and a healthier social media environment overall.

In order to address the issue, innovative technology companies are deploying disruptive tools to build a verified, secure and fast system to integrate digital identities whilst leaving each user fully in control of their own information.

Right of Reply (RoR) is one of the leading projects in this space. Led by a team of digital identity experts, RoR is developing multiple blockchain-powered platforms that integrate digital ID into different sectors, such as financial services, online media and social networks.

RoRKey, one of Right of Reply subsidiaries, focuses on aligning digital and real identity to allow verifiable identity and truth. RoRKey offers verified digital reputation identities for registered users (DRI Standard and DRI Pro), which allow them to interact in a secure and protected ecosystem in various social communications and online media content, as well as offering a verified ID that can used for different services within Right of Reply and its partners.

Right of Reply and RorKey are planning to partner with other third parties such as financial institutions, utility and insurance companies, online payment platforms, websites and social media to use DRI Pro as the means to prove the user’s digital identity. The plan for DRI Pro is to become an officially recognised legal proof of ID.

“In the digitised economy, individuals and organisations will be recognised by their digital identities. But most importantly, we need to be able to trust the systems that store digital IDs. Blockchain is the right technology for this end: It is decentralised, effective and minimises the need for trust”. says Stefania Barbaglio, from Right of Reply.

Cassiopeia trends to watch in crypto and blockchain for 2019

The year to come promises yet more innovative mainstream blockchain and cryptocurrency applications. Two years after the bitcoin boom, we can see increasing understanding of cryptocurrencies and markets reaching greater maturity.

Whilst the hype around bitcoin has certainly passed, the advantages and benefits of deploying blockchain have only just started to show. Blockchain technology itself has improved in 2018, with greater scalability, more decentralised features and enhanced security. One thing we can be sure of is that in 2019, the blockchain and fintech revolutions will continue to gain ground, paving the way for more innovations to enter the market.

The external mood is causing investors and entrepreneurs to steer clear of traditional markets. With the political climate bringing chaos in the UK and Europe, coupled with low oil price expectations and continued volatility in equities, alternative investment options, as those found in the crypto market, can be much more attractive.

Check out our predictions in the blockchain and crypto space for next year and pick your favourite projects.

  1. Bitcoin out, Altcoins in. DigiByte under the spotlight

The Bitcoin hype is certainly over, and the last year has created a chance for other crytpocurrencies — known as altcoins to shine.

One of the most successful of such projects is DigiByte (DGB). Powered by strong community effort, DGB is a token designed for mass scale adoption and cybersecurity. DGB is the fastest and most scalable blockchain in the world due to its design choices, such as multi-algorithm mining and decreasing block times. Every 2 years, the DGB blockchain's dynamic strcuture system doubles the number of transactions per second by doubling the block size. In 2019, capacity should reach 1100+ transactions per second, with a maximum capability of 280,000 transactions per second by 2035.

Another crypto in strong favour is Ripple. Desgined as the cryptocurrency of banks and international companies for money transfer, its token XRP allows users to send money all around the globe at high speed and low cost. Ripple is becoming further integrated to banks and fintech systems and is already being used by over 100 companies worldwide.

2. The Darwin Effect in the ICO market.

Capital to be directed to projects with stronger use cases.

After the ICO boom in 2017 through 2018, the next year will bring a more ‘evolved’ phase of the ICO market. Many of the vast number of coins launched over the last couple of years proved to be poorly managed projects with no real or practical applications, or in some cases even fraudulent.

The future of ICOs is in projects that present great scalability — ability to grow without losing efficiency — and strong use cases. Coins and tokens to watch are those that can add real value to the user experience and provide new avenues for efficiency in business models while promoting innovation.

With the introduction of more reliable regulating mechanisms both at governmental and community level, we’ll see a cleansing in the market, with a ‘survival-of-the-fittest’ model allowing only the most solid projects to stay in the game.

3. The Technology Revolution is on: Blockchain meets AI

The integration of blockchain with other disruptive technologies such as artificial intelligence is already a hot topic this year — a trend set to increase even more. Recently, Google announced solid moves to widen its AI team and research. The tech giant has promised to deploy AI features to social change projects and develop fairer machine learning mechanisms.

We should also expect further integration of blockchain into platforms with AI and Internet of Things (IoT). IoT is a system of multiple interconnected devices, all with unique identifiers and capable of transferring information between one another via network connection.

Because of its decentralisation, automated data and strong security framework, blockchain is an ideal underlying structural technology for many industries.

4. Crypto market matures and becomes more sophisticated amid widespread adoption of blockchain by different industries

According to a survey by the International Data Corporation, in 2019, we can expect more investments in blockchain projects as investors are searching for increasingly sophisticated solutions, faster networks and a higher degree of innovation. The technology is set not only to generate new applications but also be integrated into already existing systems. Respondents reported being keen to take blockchain on board as it will provide significant benefits to their companies and improve their way of doing business.

In the crypto market, the trend indicates that the number of exchanges and listed coins are continuing to grow, but also that the crypto market in general is more mature, more sustainable and receiving more substantial investments from institutional investors.

Aside from finance, so many different industries can benefit from adopting blockchain. One of the prime cases is Online Blockchain (OBC), a pioneer tech company developing a number of blockchain projects around the world. OBC employs a long-term strategy, analysing various markets and applications where blockchain can bring disruption. Throughout 2018, the company has launched cryptocurrencies in many Asian and Latin American countries, as well as establishing partnership with a gaming company to integrate blockchain into its gaming features.

5. Stronger crypto communities: DigiByte in the driving seat

With the widespread adoption of blockchain and people getting used to the decentralised ecosystem, there is an atmosphere of understanding and appreciation. People all over the world are beginning to understand the power of decentralisation so are keen to get involved in blockchain projects, sharing ideas and bringing their contributions to the cause. This proactive social involvement and engagement in the technology revolution has resulted in digital communities which are starting to serve as a key element for any project aiming at a wide adoption. They are also the new protagonist of a new marketing and communication frontier.

One example of such a strong and effective community is the community around DigiByte Coin. Tens of thousands of people from all over the world have contributed to DigiByte in countless ways over the past half-decade to make it what it is today. In fact, in a first-of-its-kind DGB event in London hosted by Cassiopeia Services, the founder of DGB Mr Jared Tate himself admitted that one of his developers is someone he has never met in his life, showing that people’s strong belief in DGB is the real reason behind its immense growth. Those people are highly motivated, driving the development of blockchain with new project ideas, all the while spreading awareness.

The next DGB event, DigiByte Global Summit is taking place in Amsterdam on 19th April 2019. Registrations now open here.

5.The Power of Decentralisation: Increasing Decentralised Applications (DApps)

The coming year will see a prominent boost in the adoption of decentralised applications. Any centralised database can be converted into a distributed, scalable database that can be used to power such innovative applications.

More recently, the scalability of DApps has been improving and investor attention is turning to the different applications that are built of top of blockchain platforms. One of the most prominent coins developing and exploring DApps is DigiByte, which has implemented further decentralisation features and increased security for the new generations of crypto applications.

Decentralised applications run on a peer-to-peer network, rather than a single computer, and have existed since the advent of peer-to-peer networks. They are a type of software program designed to exist on the internet in a way that is not controlled by any single entity. A DApp is a distributed application that runs its back-end code on a distributed ledger network. DApps can be designed to be censorship-resistant and prevent a failure or attack from a single point. The software program is designed on the internet where consensus — rather than a single entity — is the control. DGB’S focus on DApps regarding decentralised networks will cause a paradigm shift in the industry’s software models. The distributed, transparent, and incentivised application will transform technology, especially the app industry.

Games as DApps have already started to get the attention of millennials, an area which is expected to increase considerably in the coming year. One such example of a potential ICO is ULTICOIN.

6. Regulations and jurisdictions: Increase watchdog

Along with the ‘mainstreaming’ of blockchain come regulations and legal frameworks to standardise it. Countries like Malta, Gibraltar and Switzerland have already indicated moves towards welcoming crypto into their economies and legislations.

In light of expansive growth, other economies are working on strategies for digital economy and fintech, with special address to cryptocurrencies. In Europe, Switzerland takes the lead in welcoming blockchain and disruptive technologies into a regulatory framework. During this year, the country has established a crypto sector within FINM, its financial market regulatory body. In recognition of the increasing number of coins on offer under the Swiss market, the body has set specific rules for ICOs and digital assets, aiming to better protect banks, businesses and customers who transact with cryptocurrencies.

Malta has also followed similar steps to set cryptocurrency regulations which came into effect in late 2018 under the The Innovative Technology Arrangement and Services Act. The small country is indeed showing itself as the leading nations in embracing blockchain. Malta is home to famous crypto exchanges such as Binance and BitBay, and has established a partnership with OKEx to launch a new crypto exchange with the fintech arm of Malta Stock Exchange Holdings.

7. Gaming innovation and development. Gamification to spread

The multi-billion-dollar gaming industry is usually seen as a forward-thinking space in terms of adopting new technologies. This is (almost certainly the case with blockchain. Projects integrating blockchain into gaming services or coupling gaming and cryptocurrencies have recently emerged and are showing strong tendencies towards growth.

Gaming platforms built on blockchain offer many more features to users such as increased security and transparency, and the ability to trade assets without the need for a third party — which would usually set rules and charge fees.

Furthermore, projects such as ULTICoin offer gamers — for the first time — the chance to exchange their gaming tokens into cryptocurrencies and potentially fiat currencies, promising to turn gaming into a profitable activity and make the market increasingly attractive to investors. ULTI capitalises on the value locked in the gaming market, giving more power and control to developers over earnings and distribution.

A decentralised gaming market allows more independence for all parts involved, as it eliminates the middlemen who can delay proceedings or deprive these developers of their entitlements. On top of that, blockchain helps with distribution and publishing fees, arbitrary selection and restrictions.

8. Future Economy Tokenisation & Digital Security Assets

Structurally comparable to stocks, tokens are becoming the new assets, with the advantage of being more user-friendly, as tokens — more accurately called digital assets — are more practical and tangible. Usually located in digital wallets in smartphones, tokens are secure and immutable, representing a more attractive alternative to the old environment of the stock market.

Security tokens are fully-compliant digital assets representing the ownership in traditional asset classes such as real-estate, equities and bonds. Thanks to blockchain, investors of all levels are able to access investments on a 24/7, transparent and global platform to trade securities of all kinds.

Swarm Fund is at the forefront of the digital security implementation in market and investment. Swarm is the Open Infrastructure for Digital Securities and the first private equity blockchain fund: an open-source fully regulated platform for scalable crypto investments. In essence, Swarm is a decentralised capital marketplace that democratises investment in crypto security assets offering a fully compliant and legal infrastructure.

It offers a wide variety of investment options in crypto security assets, within a fully compliant and legal infrastructure. The investments are all built on the same platform: new opportunities and free access to digitised assets to any investor on a non-discriminatory basis.

Crypto experts believe that, due to increased sophistication and better regulation, Security Token Offerings will be just as successful as the movement in the ICO markets in 2018, or even more so.

9. Cybersecurity at the top

While a digital economy can make doing finance easier, it also poses risks of data breaches and hacking. Therefore, the future calls for better management of digital assets at all levels and more sophisticated mechanisms to counter malicious acts.

DX exchange is the first crypto exchange powered by NASDAQ. Its technology relies on NASDAQ’s infrastructure, such as its matching engine, used by over 70 exchanges around the world. DX’s regulations meet the highest regulatory standards, thus avoiding common errors and bugs, such as double count trading, and in general prevents fake volumes.

Cybersecurity is a major concern for crypto exchanges, as has been seen in numerous cases. This issue will also be addressed with the help of NASDAQ’s infrastructure, and Daniel Skowronski, the CEO of DX exchange, has promised to hire the best specialists in the field to avoid hacks and other malicious attacks.

10. Decentralised Exchanges (DEX)

The past couple years have seen centralised crypto exchanges being hacked, and attacked by regulators as a result. One of the trends in 2019 will be the growth of the decentralised exchange, which introduces the features of blockchain to the market structure. Even though DEX architecture employs centrally-managed, off-chain order books, traders retain possession of their private keys until a counterparty is found, at which point the trade is executed on chain.

11. Fintech spurs growth in developing countries

In emerging economies, technological developments are set to prompt economic growth and societal change by increasing financial inclusion and individual empowerment. Fintech tools, especially mobile banking, have helped millions of unbanked citizens to manage their money better and more safely.

In Africa, where the vast majority of the population works in agriculture, technology can make a big difference. Use of innovative tools allows small holder farmers to grow production and make a living. Block Commodities, a leading agritech company operating in Africa, has developed Farmer 3.0, a farming model that integrates small scale farmers into commercial supply chains and markets with the aid of disruptive technologies. With the use of digital finance, as well as big data, artificial intelligence, drones and machine learning, farmers are able to reduce inefficiencies in their practices and maximise production as a result.

12. Blockchain to combat fake news: Securing your digital identity is now a priority.

Among its various applications, blockchain technology can underpin online platforms that promote more authentic relationships between users and a healthier social media environment overall.

During 2018, we witnessed the spread of fake news on social media for political purposes. In light of this, technology companies have started developing applications to counter malicious content and bad actors online. One such company is Right of Reply, which is harnessing blockchain to create multiple platforms which can better regulate online interactions.

One way of addressing the fake news problem is to allow opposing ‘sides’ of a story to tell their respective versions within the same platform, to save time and enhance relevance. For this to happen, users need access to mechanisms which can manage their reputations and flag any mention of their names in online content.

RoRkey, Right of Reply’s technology subsidiary, focusses on aligning digital and real identity to allow verifiable identity and truth.

RoRKey offers verified digital reputation identities for registered users (DRI Standard and DRI Pro) which allow them to interact in a secure and protected ecosystem in various social communications and online media content as well as offering a verified ID that can used for different services within Right of Reply and its partners.

DRI Pro utilises a thorough identification process, requiring each user to undergo significant KYC (“know your customer”) and AML (“anti-money laundering”) procedures. This verification process reflects financial service level procedures, and includes the delivery of private and public encryption keys to the registered user.

Right of Reply and RorKey are planning to partner with other third-parties such as financial institutions, utility and insurance companies, online payment platforms, websites and social media to use DRI Pro as the means to prove the user’s digital identity. The plan for for DRI Pro is to become an officially recognized legal proof of ID.

The trends above set the scene for what we can expect in the tech space and the areas where growth and opportunity are brewing.

“Individuals have finally understood that blockchain is so much more than bitcoin and can truly revolutionise the way many industries work. Embracing this technology is not only positive but necessary to survive in an increasingly competitive space,” says Stefania Barbaglio, director of Cassiopeia Services, a leading PR/IR company acting in the blockchain space.

“The key to successful projects is to have strong use cases and applications that can add value to people and society. Innovation is the rule.”

The age of tokenisation: Understanding security and utility tokens

In the age of cryptocurrencies, assets of any kind can be stored in mobile wallets in our smartphones. Such assets are then known as tokens. Much like shares, tokens are a form of digital asset issued a by a company, and there are two main token types which investors looking into crypto should be aware of.

The fundamental difference between an ICO and an IPO is that in the case of the latter, you receive stock in exchange for the your investment, while an ICO provides you with a token in exchange for your investment. However, unlike company shares, a utility token is purchased mainly to give the user access to a service or a product provided by the company.

One utility token example is Filecoin, which after raising $257million in token sales, grants its users access to its decentralised cloud storage platform. Investing in utility tokens during a company’s ICO phase — also called user tokens or app coins — represents future access to that company’s product once released.

Security tokens, on the other hand, are digital assets whose value comes from external assets, whichcan then be traded and eventually generate profit for token holders.

The main difference between the two token types lies in their functionalities. Whilst a utility token represents a product or service in itself, the security token is an investment in a project togenerate future returns.

Any token sold with the prospect of future profit qualifies as a security, so because anyone issuing any form of security must register their investment contracts with the Securities and Exchange Commission (SEC), security token holders must follow SEC regulations.

Security tokens are subject to the federal laws that govern securities, preserving consumer protection and increasing company accountability. SEC’s primary objective is to ensure that all ICOs comply with the regulations. This ensures safer practices for both companies and token-holders, and a healthier marketplace.

As the blockchain industry evolves and expands globally at a rapid pace, regulatory bodies are feeling the pressure to implement tailored frameworks to guarantee well-functioning practices and avoid fraudulent activities.

By October 2018, the cryptocurrency market cap sat at approximately 300 billion dollars, while in Q1 of the same year, ICOs had raised an estimated amount $5 billion.

Following this crypto market ICO boom, and the consequent fall-out after many ICOs turned out to be scams, the SEC set up a special task force in early 2018 to oversee cryptocurrencies. SEC-regulated ventures attract institutional investors, resulting in substantial sums to drive the projects forward.

“Our securities laws apply to the ICO space, and if people are going to raise money using initial coin offerings they either have to do so in private placement or register with the SEC,” said SEC Chairman Jay Clayton, amid the crackdown on ICO regulation.

Under SEC rules, security tokens offer holders significant advantages and rights within the company, such as equity, voting rights, dividends, buy-back rights and many others that utility tokens could not offer.

Why use tokenised securities?

There are considerable benefits in issuing and purchasing tokenised securities. Apart from being SEC-compliant and offering security to asset holders, tokens allow inexpensive and fast transactions: because there are no intermediaries between companies and token holders, transactions are quick and cost-effective, adding more value to the use of tokens.

As is typical of digital assets, tokens can be transacted on a global scale, allowing borderless transactions 24/7 anywhere in the world regardless of business hours and time zones.

“Ultimately, we can envision a world where we may even work with regulators to tokenise existing types of securities, bringing to this space the benefits of cryptocurrency-based markets — like 24/7 trading, real-time settlement, and chain-of-title,” said Coinbase COO Assiff Hiriji when the exchange was awarded SEC approval.

For the reasons above, tokens are bound to become increasingly popular and regulatory frameworks should continue addressing them more fully.

“As the blockchain revolution keeps gaining ground around the world, we see more companies embracing new ways of doing business which prioritise consumer value and enhance transparency in the relationship between company and share/ token holder,” said Stefania Barbaglio, Director at Cassiopeia Services.