Leo Global Associate Meeting 3rd October 2016 |Webinar | Engish

Dan takes us through some important announcements regarding the Pay Week; Infrastructure update; Member recognition and reports on the Cultural Exchange event before advising us of the new dates of our incentive programmer.

Bill Gates talks about CryptoCurrency / Digital Currency

" Bill Gates Cryptocurrency Are  The  Future  Of Money "

Bill Gates talks about CryptoCurrency / Digital Currency

America’s richest man actually threw his weight behind cryptocurrency and digital currency in general during the Sibos 2014 financial-services industry conference in Boston.  He sees the low cost to no cost payments solution as the way of the future.
LeoCoin is Digital currency or digital money is an Internet-based medium of exchange distinct from physical (such as banknotes and coins) that exhibits properties similar to physical currencies, but allows for instantaneous transactions and border less transfer-of-ownership.

The Upcoming Digital Currency most successes currency in the world because everything will buy using this.
Much like how when cell phones first came out, not many people used them or knew about them.  And 10 years later they became a normal part of everyday life and everyone has one.  Cryptocurrency will be much the same.  In 5-10 years time we will all be using digital currency!  Our society has already transitioned to a virtually cashless society anyways through the use of credit and debit cards.

If Bill Gates is backing cryptocurrency as a digital payments solution… you know where the future is headed!  He was right with Microsoft Windows.  He’s been right with his humanitarian aid to 3rd world countries.  He’s going to be right about the future of money, Bill Gates is America’s richest man for a reason, so when he speaks on topics you can profit from… you listen with intent!

I hope you enjoyed this bit of Bill Gates digital Currency .  I look forward to providing you with more info and education from the world of crypto currency!  It is my mission to education as many people as possible, because learning about what is happening here in time to capitalize on it… is simply life changing!

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What would happen if your country issued a digital currency

“Antshares is a decentralized and distributed network protocol which is based on blockchain technology. People can use it to digitalize assets or shares, and accomplish some financial business through peer-to-peer network such as registration and issuing, make transactions, settlement and payment.”

LEOcoin: Currency for the World of Business Technology

LEOcoin is a relatively new digital currency that operates on a blockchain-based, peer-to-peer network. Entering a market saturated with altcoins, this project will have to set itself apart from the crowd if it wants to avoid getting drowned out by all the altcoin noise.

LEOcoin Attempts to Address the Needs of Business in the Technological Age

The team behind this project seems to recognize the uphill battle they face, and wants to differentiate their coin by optimizing it for business transactions. LEOcoin, using a proof-of-stake algorithm, is “designed to be a world currency and the currency of choice for entrepreneurs,” as stated on the project’s website.

“We combine development skills, international infra-structure [sic], [and] real world entrepreneurial know how,” the website reads, “creating a platform for growth second to none.”

Bitcoinist sat down with the project’s co-founder and CEO Dan Anderson to learn more about this project, and to ask him how his team plans to succeed in an environment where altcoins are abundant, and respect for them is minimal.  

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Tell us a little bit about LEOcoin’s background, what inspired its creation?

LEOcoin was created in June 2014, and has been backed by a dedicated digital currency exchange (www.LEOxChange.com) since April 2015. It is the first digital currency to be launched in the UK that is designed for small business owners; allowing individuals to make fast, secure and cost effective transactions through a decentralised peer-to-peer network. The usability and accessibility of the currency positions LEOcoin as a world currency and the currency of choice for entrepreneurs.

The unique opportunity LEOcoin offers compared to other digital currencies is that it was created with an oven-ready community of users via LEO’s global community of entrepreneurs.

The big picture is to help the millions of people all over the world, who are frankly poorly served by existing multi-national institutions. The arbitrary barriers placed in front of them are frankly offensive and we think that LEOcoin can be part of the answer to break down these institutional roadblocks to people trying to earn a living and do business.

Tell us about the development team’s experience, what kind of things have they worked on in the past?

Our development team working as part of the LEOcoin Foundation have all worked on smaller digital currency projects in the past. These projects were usually experiments and learning opportunities to develop digital currency knowledge. They are based all over the world  However, since launching LEOcoin, they have successfully gone through a hard fork as part of a move to a unique method of Proof of Stake and are working on developing and improving the coin every day.

How are you funding this project?

LEOcoin was created and developed by the LEOcoin Foundation. The main funder of the Foundation is LEO, an e-learning and education business dedicated to meeting the needs of small businesses and entrepreneurs.

What is the purpose of Leocoin, why should people use it instead of Bitcoin or any other altcoin?

LEO has a global community of merchants and members who were keen for a way to trade internationally without the barriers and restrictions that come with conventional currencies.

LEOcoin was designed to be an entrepreneur’s currency, that truly levels the playing field for international traders and small businesses. Of course LEOcoin is available to more than just LEO members, anyone can start up a LEO wallet with a few clicks of a button.

We have designed LEOcoin to be as user friendly as possible. Bitcoin was indeed the trailblazer, but is based on older technologies and has always been too complex for the general user, not to mention requiring powerful computers to run. LEOcoin has learnt from Bitcoin’s experience and offers a more accessible approach. Our Proof of Stake model requires a fraction of the processing power, significantly lowering the barriers of entry to consumers.

Additionally, the way our PoS system is designed is unheard of in the sector. We have tiered the rewards. People who stake wallets with at least 1000 coins get 10% reward over a year. 5000 coins secure a 15% annual return and 50000 coins merit at 20% annual reward. As far as we know, no other coin in the world has a PoS system likes this and the structure certainly incentivise positive behaviour.

What has the reception for this project been like so far? Are a lot of people expressing interest in the coin?

LEOcoin continues to go from strength to  strength. We launched with considerable fanfare in London and Hong Kong in 2014, and since then the LEOcoin community has continued to grow.

LEOcoin can be traded on multiple exchanges and recent trading volumes have been very high. On some exchanges there have been days when LEOcoin’s trading volume has been second only to Bitcoin’s. Now that’s obviously not a daily event, but it’s a great endorsement of the cointo see who’s trading and visit www.leoxchange.com for the latest trading price.

What is your long-term plan for success?

LEOcoin was created to be a levelling force in international trade for small business owners and entrepreneurs. We will measure our success by the number of opportunities LEOcoin creates for those budding businesses. Every time there’s a trade between individuals/businesses using LEOcoin where a fiat currency would have been restrictive or costly is a success in our book.

And going beyond that, we have a desire to change the way that business is done. We can start by improving systems and increasing access for people, but fundamentally there are massive institutions who are getting in people’s way and their size and history means that they can get away with it. These institutions are well overdue some major disruption, and that would be a great achievement for LEOcoin.

Is LEOcoin meant to be a competitor to Bitcoin or a compliment to the advantages Bitcoin already provides?

We did not create LEOcoin to be a competitor against Bitcoin, we’ve created LEOcoin to be a real alternative for international trading between small businesses and entrepreneurs. We have sought to emulate the advantages of blockchain technology, like that used by Bitcoin, whilst removing the drawbacks and the high barriers to entry.

Is LEOcoin meant to replace fiat?

LEOcoin is about creating a viable alternative to fiat currencies, one that breaks down international barriers. We have not set out to replace them. In fact if you look at www.leoxchange.com trades can be made in a combination of digital currencies and fiat currencies. We are trying to give businesses as much flexibility as possible.

Ultimately digital currencies can be a global way of transferring value. If you look at the old-world currencies. The pound has crashed; the Euro is in trouble, the dollar turbulent. Maybe it’s time the world looks at a more global solution that isn’t subject to the petty whims of national governments?

Thank you, Dan, for taking the time to answer our questions. Bitcoinist will continue to follow this project as it develops, and will stay in communication with the LEOcoin team to bring readers the latest news.

What do you think about LEOcoin? Will it succeed? Let us know in the comments below! ? ? ? ? 

Big Banks Collaborate on New Digital Currency for Settlements

               The news follows the long-awaited publication of the World Economic Forum’s look at how blockchain can reshape the future of our financial services infrastructure. Among its many findings, it stresses the need for ‘deep collaboration between incumbents, innovators and regulators’. It is encouraging therefore to see the emergence of this new consortium and its subsequent engagement with central banks.

Intro Of Block Chain Technology:- 

The blockchain is seen as the main technological innovation of Bitcoin, since it stands as proof of all the transactions on the network. A block is the 'current' part of block chain which records some or all of the recent transactions, and once completed goes into the block chain as permanent database. 

Time will tell what industry standards emerge for digital cash systems, as several others are being developed. CitiGroup’s ‘Citycoin’, Goldman Sachs' ‘SETLcoin’ and SETL, a London based institutional payment and settlement infrastructure based on distributed ledger technology, all offer alternatives. The technology may well experience its own ‘VHS/Betamax’ moment as the market coalesces around one system. Industry standards will be required in order to ensure interoperability across different propriety systems, geographies and asset classes. Existing standards in financial services, around payments, securities trading and settlement and trade finance may well have to be revised. Despite the hype surrounding blockchain, debate does remain however as to whether it is the best model to employ in this field and whether central banks will approve the proposal for settlements.

In response to the news, Hyder Jaffrey, Head of Fintech Innovation at UBS remarked:
“You need a form of digital cash on the distributed ledger in order to get maximum benefit from these technologies. What that allows us to do is to take away the time these processes take, such as waiting for payment to arrive. That frees up capital trapped during the process.”

On the other hand, Founder of UK digital currency, LEOcoin, and Chairman of the LEOcoin Foundation, Dan Andersson, welcomed the financial sector’s recognition of the value of block chain technology, but expressed serious concern that the move could see the world’s biggest banks attempt to “hijack” the sector and crowd out those working in disruptive finance technology.

“I am obviously pleased to see the financial world wake up to the value of digital currency, even if they are late to the party. It is clearly a good thing for this technology to no longer be treated as a financial pariah reserved for those with malicious intent. It has the potential to link up businesses and entrepreneurs on a global scale, and at the LEOcoin Foundation that is what we are trying to do.

“However, I am concerned that the ‘big banking’ sector’s centralising inclination may cause them to hijack and stifle blockchain and digital currency technologies to crowd out disruptive entries. If banks simply use digital currencies to do more of the same they will have missed the point of this revolutionary opportunity.”

Following the publication of techUK’s whitepaper focused on the industrialization of distributed ledger technology in financial services, authored by members TCS, techUK will be soon convening the first meeting of its DLT working group. Keep an eye out for associated activities in the remainder of the year.

Reference:- http://www.techuk.org/insights/news/item/9209-big-banks-collaboration?utm_content=buffer950d4&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer 

Big banks plan to coin new digital currency

Breaking News 

Four of the world’s biggest banks have teamed up to develop a new form of digital cash that they believe will become an industry standard to clear and settle financial trades over blockchain, the technology underpinning bitcoin.

UBS, the Swiss bank, pioneered the “utility settlement coin” and has now joined forces with Deutsche Bank, Santander and BNY Mellon — as well as the broker ICAP — to pitch the idea to central banks, aiming for its first commercial launch by early 2018.

The move, to be announced on Wednesday, is one of the most concrete examples of banks co-operating on a specific blockchain technology to harness the power of decentralised computer networks and improve the efficiency of financial market plumbing.

“Today trading between banks and institutions is difficult, time-consuming and costly, which is why we all have big back offices,” said Julio Faura, head of R&D and innovation at Santander. “This is about streamlining it and making it more efficient.”

Blockchain technology is a complex set of algorithms that allows so-called cryptocurrencies — including bitcoin — to be traded and verified electronically over a network of computers without a central ledger.

Having initially been sceptical about it because of worries over fraud, banks are now exploring how they can exploit the technology to speed up back-office settlement systems and free billions in capital tied up supporting trades on global markets.

The total cost to the finance industry of clearing and settling trades is estimated at $65bn-$80bn a year, according to a report last year by Oliver Wyman.

There are several rival digital cash systems being developed. Setl, a London-based group founded by hedge fund investors and trading executives last year, also aims to settle financial market payments with digital cash linked directly to central banks. Citigroup is working on its own “Citicoin” solution, while Goldman Sachs has filed a patent for a “SETLcoin” to allow trades to be settled near-instantaneously. JPMorgan is also working on a similar project.

“You need a form of digital cash on the distributed ledger in order to get maximum benefit from these technologies,” said Hyder Jaffrey, head of fintech innovation at UBS. “What that allows us to do is to take away the time these processes take, such as waiting for payment to arrive. That frees up capital trapped during the process.”

He said the project team would spend the next year seeking the approval and co-operation of regulators and central banks and aim for a “limited and low-risk” commercial launch by early 2018. The consortium members plan to argue that the system would improve transparency for regulators.

The US Federal Reserve, the Bank of England and the Bank of Canada are among central banks examining the potential benefits of digital currencies. But concerns include the security and the impact on banking stability.

David Treat, head of Accenture’s capital markets blockchain practice, said the technology was still at a stage of having “three to five years before we get things adopted at scale and several more years before it goes mainstream”.

Credits :-http://www.ft.com/cms/s/0/1a962c16-6952-11e6-ae5b-a7cc5dd5a28c.html#axzz4IEAGvq27

Imaginary money: your cash won't be real in the future

" Five digital finance reasons why your pocket is about to be lighter " 

Money as a concept has changed a lot over the years - from mounds of salt back in Roman times ('salary' is derived from the Latin for salt) through to gold, then innumerable currencies and now to today's vast digital transactions. Sure, there's a lot of cash still sloshing around, but the big deals are all electronic.

Increasingly that's trickling down to us consumers too - from Wave and Pay in your local city bar, paperless bank statements and Oyster cards, through to rumors that Denmark is planning to go entirely digital. old money is on the run.

What's surprising is that your established high street bank is currently all in favor of digital transactions - they're cheaper to manage and a chance to slice off a fee.

But once consumers are happy with purely conceptual money then the role of banks themselves may start to change, and there's a wealth of alternative 'versions' of cash out there which are ready to exploit the new chapter of currency.

The changes coming our way are pretty big: from just altering the way we spend our cash to completely new types of money that could alter the financial landscape of the world, there's a lot to get your head around - so here's some help on that front.

Bitcoin

The behemoth of digital currencies, Bitcoin isn't just an alternative method of spending money. Its creators proposed that it could replace the traditional financial system entirely, ushering in a new utopia of hassle-free, unfettered consumerism.The key to the open-source distributed digital currency is that, unlike pounds or dollars, nobody owns or manages it, so it depends almost entirely on the trust of its users.

The central technological achievement is that all transactions are recorded publicly, within the 'blockchain cypher' which Bitcoin is based on, which means the lack of central 'owner' isn't an issue. There are many sites online where you can view Bitcoin transactions, such as this one.

Although it's free to use, it's a complicated technology to set up - there are 12 wallets recommended by the Bitcoin foundation alone, and many other options you could fiddle with if you choose.

Because it's based on open source software everybody has access to the code, including criminals, so it's vital to check that your chosen software packages are from a reputable source, and haven't been tampered with.

Finally, due to a limit on the total number of 'Bitcoins' that could ever be created, its future isn't assured as the money is literally running out.

However, the blockchain cypher which underpins Bitcoin may prove to be the long term winner, as the technology is being adopted and built upon by hundreds of companies. Maybe that new financial system will be a reality after all.

·         Price: Free

·         Ease of use: 1/5

Ethereum

As Bitcoin has struggled with public perception, a more flexible and investor-friendly rival has been rocketing in value. Ethereum was crowdfunded in 2014, and is run by a Swiss non-profit.

It takes the blockchain principle - in which all transactions are automatically and publicly logged without the need for a central agency - and opens it up for developers, and indeed anyone.

Because it's decentralised anybody can use it to create almost any kind of trading system imaginable, and there are hundreds of 'apps', created by both businesses and individuals, that offer new ways to do a mind-boggling array of tasks, from credit checks to trading to noise monitoring.

The 'wallets' are standardised, so while you can create your own currency you can also buy or trade others easily. You could create your own marketplace, build contracts with anybody else on the system, or make escrow-type deals.

This flexibility built on top of blockchain has led to companies including JPMorgan Chase, Microsoft and IBM describing Ethereum as a sort of Bitcoin 2.0.

On the downside, the inbuilt flexibility makes the software even more complex than Bitcoin, and Ethereum is so new that it's hard to predict how popular it will become. Still, who expects creating a new currency to be easy?

·         Price: Free

·         Ease of use: 1/5

Circle

Circle is a 'social payments' app for Android, iOS and the web that aims to get you making payments more easily and cheaply than ever before.

The main thrust of this is a slick app interface, where you can send or receive money immediately (along with emoticons or GIFs to convince your contacts to pay up).

There's a group request function too, so if you've shared a cab with a group of friends you can all chip in the next day. Download the app, link a card and you're off.

The interesting bit is that there are no transaction fees at all, and you can switch currency from pounds to dollars if you like, all for free.

Part of the reason for this lovely freeness is that Circle is based on open internet standards and protocols, including blockchain, so doesn't have to deal with the costs associated with traditional banks.

However, it's far from unregulated - Circle has an Financial Conduct Authority E-Money Issuer license, the first one ever issued to a consumer internet firm for cross-border payments with blockchain technology.

It's also partnered with Barclays Bank in the UK for additional trustworthiness. As it's a relatively new launch it's hard to say how popular it'll be, but being free and 'social' never hurt...

·         Price: Free

·         Ease of use: 3/5

LEO COIN 

LEOcoin is based on a blockchain algorithm too, and can be mined just like Bitcoin - it's based on Litecoin code, which is a licensed variation of, but extremely similar to Bitcoin. LEOCoin aims to be 'the entrepreneurs' digital currency of choice' and goes about this by being more secure - or so the founders claim - than Bitcoin; truly anonymous, and easier to use.

The process of downloading a wallet, then either buying or 'mining' your own LEOcoins is simplified, mainly by restricting the wide-open-choice nature of Bitcoin.

Another key difference is that by just maintaining a LEOcoin 'wallet' with coins in it you automatically accrue 'interest' at 4%, by being allowed to generate additional coins.

LEOcoin points out that this "is an excellent way to convince investors to hold on to their coins for an extended period". However, the product hasn't gained widespread traction yet, being still in the soft launch phase, so perhaps don't head out and change all your cash for LEOcoins just yet.

·         Price: Free

·         Ease of use: 2/5

Credits:- 

http://www.techradar.com/news/world-of-tech/imaginary-money-your-cash-won-t-be-real-in-the-future-1322397

On Eve of Success? How Accepted Are Cryptocurrencies Today

To read full story of LEOcoin success. Click on below link
https://cointelegraph.com/news/on-eve-of-success-how-accepted-are-cryptocurrencies-today

LEOcoin, an Entrepreneur’s Alternative for Bitcoin Moves to Proof of Stake

Bitcoin Press Release: LEOcoin, the bitcoin like cryptocurrency for entrepreneurs has shifted from the previously implemented Proof of Work (POW) to Proof of Stake (POS) consensus algorithm. LEOcoin has also added few exciting products into its portfolio.


For full detail about proof of stake, Click on link below:
http://www.newsbtc.com/2016/08/03/leocoin-entrepreneur-alternative-bitcoin-moves-proof-of-stake/

History of Cryptocurrency

History of Cryptocurrency

The first cryptocurrency was Bitcoin. Bitcoin was created in 2009 by a pseudonymous developer named Satoshi Nakamoto. Bitcoin uses SHA-256, which is a set of cryptographic hash functions designed by the U.S National Security Agency. Bitcoin is a cryptocurrency that is based on the proof-of-work system.

In April 2011, Namecoin, the first altcoin, was created to form a decentralized DNS to make internet censorship more difficult. In October 2011, Litecoin was released and became the first successful cryptocurrency to use scrypt as its hash function rather than SHA-256. This gave the general public the ability to mine for litecoins without the purchase of specific hardware such as the ASIC machines used to mine Bitcoin.

Litecoin began receiving media attention in late 2013 – reaching a market cap of $1 billion. Ripplecoin, created in 2011, was built on the same protocol as Bitcoin but services as  a payment system – think of it like a Paypal for cryptocurrencies that supports any fiat currency, cryptocurrency, commodity or even frequent flier miles.

Cryptocurrencies & Market Capitalization

Bitcoin is the largest cryptocurrency in both market capitalization, volume, acceptance and notoriety, but it’s not the most valuable coin. NEMstake, while only having a market cap of $1,116,720, trades at $1,117 a coin. Looking at the market cap, Litecoin takes second place after Bitcoin with Ripple close behind.

One coin that you are more than likely familiar with is Dogecoin. Dogecoin ranks, on average, thirds in trading volume, but has a relatively low market cap – ranking number six in the largest cryptocurrency.

Article Credits to :- https://www.cryptocoinsnews.com/cryptocurrency/

At the Speed of Money: How Cryptocurrency Will Transform Everything | David Morris | 

What is CryptoCurrency

What is CryptoCurrency by EarnitwithLeo