Autor Cointelegraph By Sarah Jansen

Blockchain-based fintech company prepares to enter $500B freight settlement market

Blockchain-based fintech company prepares to enter $500B freight settlement market

Uverejnil používateľ | nov 29, 2022 |

The world is quick to blame inflation for the rising prices at grocery stores and retailers. This was the #1 political issue for recent Election Day voters in the United States. For example, media sources recently reported poll data that 85% of Americans could not afford to spend $200 on a Thanksgiving meal in November 2022, and only 25% could afford $100.However, few recognize inflation is only part of the problem. Higher costs for products and services are also directly attributable to settlement fees paid by transportation providers who are forced to take out the equivalent of payday loans against their freight invoices.Shipper payment terms in the transportation industry are known to be egregious, and most transportation carriers cannot afford to wait 30–180 days to get paid. When a carrier factors, it pledges the collection rights in its accounts receivable to the bank and, in exchange, the bank advances cash in about 10 business days.By industry averages, this cost to carriers is 3% of every receivable — often escalating up to a 25% annualized interest rate. The bank then waits the 30–180 days and collects directly from the freight shipper. If inflation is thought of as a silent tax, invoice factoring is a second layer of silent taxes on everything we buy.More than 1 million U.S. trucking companies are factoring 100% of their invoices, and 50% of third-party logistics companies are too. Due to inflation, larger transportation companies are also losing 3% or more of their invoice values when waiting over 60 days to get paid by shippers. These costs create higher freight rates, and the excesses ultimately trickle down to every household and consumer.Fixing a broken supply chain by settling on the blockchainTruckCoinSwap (TCS) is a fintech and freight-tech company utilizing a blockchain-integrated mobile app to provide fast and free freight receivables settlement to transportation companies. Moreover, TCS is listed on CrossTower in the U.S. and abroad in 80 countries, and is now also listed on Uniswap.Chief technology officer Jake Centner explained:“Centralized exchanges can work very well, and the team couldn’t be more proud of the relationships TCS has made. However, the TCS token must also have a decentralized exchange and non-custodial option in the ecosystem for transportation companies and holders. Uniswap has been the gold standard in this space.”To that end, TCS has created a process and platform identical to how carriers are settling now, with one added step. A few days after uploading freight documents into the TCS mobile app, a push notification is sent and settlement is made available in the real-time U.S. dollar (USD) value of TCS tokens.The carrier can then accept settlement via direct deposit from TCS. After receiving the balance in its crypto wallet, the carrier can immediately sell through its exchange market to regain USD liquidity. By taking settlement via TCS, and being able to sell in a matter of minutes, carriers avoid both factoring costs and crypto volatility.By industry averages, TCS estimates every factoring freightliner can recapture a significant portion of its net revenue. In the supply chain, reducing operating costs makes transportation companies more solvent and applies downward pressure on freight rates. In time, the costs of goods and, more specifically, food prices, can decrease.Regarding the company’s adoption, CEO Todd Ziegler shared:“TCS already has truckers involved in the beta, and we were just approached by two more large strategics. One has 223 trucks. The second is one of the largest companies in the U.S. managing freight documents, with over 500,000 transportation users. It speaks volumes that these companies are already interested in integrating with TCS.”The future of freight and blockchainEarlier this month, TCS presented its solution at the Future of Freight conference to over 20,000 attendees and has since gained traction in both the crypto and transportation communities with features in FreightWaves, business publications and other related media.With many strategic relationships already in play, TCS believes it is in a strong position to help carry the transportation industry forward into web3. In looking ahead to the intersection of the two industries, Ziegler offered:“Following recent court rulings and the acceleration of the DCCPA [Digital Commodities Consumer Protection Act] on Capitol Hill, we’re going to see U.S. crypto exchanges eliminate several coins. Many exchanges are already struggling for revenue and AUM [assets under management], and they’re not going to stick their necks out in the wake of FTX. The projects with no real use case will be the first to go, and the digital assets with value propositions to industry will see greater market share.”Material is provided in partnership with TCSDisclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you with all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor can this article be considered as investment advice.

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Blockchain-based infrastructure forges the future for carbon markets, crypto and commodities

Blockchain-based infrastructure forges the future for carbon markets, crypto and commodities

Uverejnil používateľ | nov 23, 2022 |

The environment is now a global priority, evidenced by the threat of increasing carbon dioxide emissions reaching 414.72 parts per million, a new record high in 2021, as reported by the National Oceanic and Atmospheric Administration’s Climate in the United States. With the impact of these emissions on climate change in mind, many countries have publicized their mission to lower their carbon emissions. For example, the United States has openly communicated its plan for environmental commodity measurement through the Bureau of Economic Analysis.However, for many sectors, achieving absolute-zero carbon emissions is impossible; carbon offsetting becomes crucial to counteracting residual emissions. Under this model, organizations can compensate for residual emissions by investing in projects which absorb carbon. Carbon offsets then become a method for tracking the number of credits an individual or organization needs to be carbon neutral.Consequently, the president and founder of 1GCX, Michael Wilson shares:“Environmental commodities, a class of assets that exist as non-tangible energy credits, are now recognized as the most crucial value creators in the next 10–50 years.”Consider that with the environment and carbon becoming a top priority for the world, the traditional way the world will view energy and, more importantly, value, is also likely to shift. As more countries begin operating on an energy-credit-first approach, a value denominated in U.S. dollars and debt that may never be repaid may no longer be sustainable.Value, which is a construct of perception, may shift for countries to recognize non-tangible energy credits — more specifically, carbon credits to their balance sheets. Recognizing energy over dollars makes sense when you consider how significant U.S. debt is and how paying it off requires a budget surplus, which hasn’t occurred in the country since 2001.Unifying the carbon marketCurrently, there is still no unified solution for the carbon market that allows participants to quickly and seamlessly capture the value of carbon commodities. Today, several private companies offer carbon offsets to companies or individuals, each representing investments of contributions to forestry or other projects with a negative carbon footprint.Alternatively, buyers may purchase credits on a carbon exchange, but unfortunately, traditional finance (TradFi) has a poor reputation for being archaic and part of a suppressive system. High-quality carbon credits are scarce since verification methods vary, among other reasons.For this reason, 1GCX believes that taking the best parts of TradFi and merging them with blockchain will prove to be the only solution that can support a global transition to this new value system.Michael Wilson goes on to share:“Freedom begins and ends with the decision to be responsible for yourself and your world, specifically the environment around you. Trade, economics, and currency are at the very core of our civilization. If freedom is to be ideal, then the only path forward is one of liberty and responsibility. Cryptocurrency is bringing money, value, systems, and philosophy to the forefront of people’s minds. We are at a precipice, a new age is upon us, and the choice is one of consciousness, which is the way we will go.”A commodity-first approach1GCX is addressing these concerns head-on. The exchange represents a green technology that can bring the benefits of new markets to market valuations in cryptocurrency by highlighting its most promising projects. The resulting two-way bridge for carbon offset trading becomes part of a broad, holistic market that can facilitate adoption, education and connection across the crypto industry.Unlike others in the space, 1GCX incorporated a market-making, commodities-first approach to redesign its financial markets. Moreover, the incorporation of the pairing and cross-application of crypto, commodities and carbon credits differentiate this platform from other exchanges. For users, this means a new user experience for trading on the platform, with access to live markets in carbon and energy. Therefore, 1GCX will become an ecosystem starting with a marketplace for everyday people to access one of the most well-kept secrets in global finance — carbon commodities, also known as Natural Asset Capital.Looking at the rest of the ecosystem, users will come face-to-face with transformative offerings centered around tokenized bonds, called black bonds, and new payment systems that integrate crypto with crypto-commodity pairings.Since May 11, 2022, 1GCX has continued to offer trading pairs with Bitcoin (BTC), Dogecoin (DOGE), Ether (ETH), USD Coin (USDC) and Tether (USDT), and some less common trading pairs against not just the U.S. dollar, but also the Canadian dollar, the euro and the British pound, in addition to other well-known digital assets and physical commodities. Built on the best fundamentals from TradFi, the platform’s exchange has resolved to add new cryptocurrency assets every week. It also shares roadmap plans for creating the first digitized carbon assets from a variety of offset verifiers around the world. These assets are said to be available for trade as early as Q4 2022.Unlike today’s private exchanges, 1GCX will offer smooth and fast settlements, complete with low fees. For new users, this means having access to one of the most accessible platforms to use, even if they have never used a traditional exchange before.R.A Wilson, the chief technical officer of 1GCX, reiterates the company’s mission:“Our economic principles of open and transparent markets begin with increasing the flow of capital and accounting for unavoidable emissions through the use of free market solutions such as carbon offsets in a way that benefits everyone.”Material is provided in partnership with 1GCXDisclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you with all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor can this article be considered as investment advice.

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Where today’s DEXs are falling short, explained

Where today’s DEXs are falling short, explained

Uverejnil používateľ | aug 23, 2022 |

Modern exchanges are aggregating deeper liquidity to ensure sufficient funds in pools. The number of modern platforms is rising, making it hard for a user to choose the most suitable option.  KyberSwap is one competitive DEX on the market, operating with the ability to aggregate liquidity from over 80 exchanges across 11 chains extending from Avalanche to Aurora. Working hand in hand with a Dynamic Trade Routing platform, traders are guaranteed optimal trade routes and prices with an algorithm that automatically splits trades across these exchanges.  The DEX also provides a Discover feature that utilizes TrueSight technology to analyze trading volumes and price trends, ensuring that investors take advantage of trending tokens as they arise. On the liquidity side, KyberSwap provides additional incentivization for users to stake their funds through their liquidity mining program. Here, liquidity providers can earn bonus incentives by adding token liquidity and staking LP tokens to associated farms. A new protocol called KyberSwap Elastic has just been unveiled too, which is a tick-based AMM offering concentrated liquidity. This gives users the flexibility to provide liquidity to pools with different fee tier settings, with earnings automatically reinvested so they benefit from compounding. An anti-sniping feature is also offered for added protection. Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you with all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor can this article be considered as investment advice.

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Blockchain technology can help create safe and inclusive adult platforms

Blockchain technology can help create safe and inclusive adult platforms

Uverejnil používateľ | júl 29, 2022 |

The cryptocurrency market is no stranger to speculation. Consider that despite this industry’s growth, many continue to view these assets and associated technologies as a bubble that is about to burst. As history has proven, overcoming the technology adoption curve comes down to a major use case, or the so-called “killer app.” Although there is no clear frontrunner, the adult entertainment industry has proven to significantly advance new technology iterations in the past and presents an interesting proposition for the future of cryptocurrencies. The adult entertainment industry is believed to be worth billions of dollars, giving it significant influence over the world’s leading technologies. Although it doesn’t create these new technologies, it is often the first to adopt and do so successfully. For example, the industry was among the first to make money on the internet, where it continues to rake in over $1 billion a year. In part, this is because, unlike other industries that must go head to head with “big box” retailers, the adult entertainment industry doesn’t need to engage in traditional distribution issues. Although just one example, this industry has continued to demonstrate a history of adopting the newest forms of media to get their content across to viewers. To illustrate, let us consider the transition from VHS to Blu-ray to internet streaming. From Betamax to Blu-rayTaking a trip back to the 1970s, users will become familiar with the debate between the Betamax and the VHS, two devices that could run a film, thereby presenting a standard in viewing technology. In one corner, the Betamax has a wide format that enabled the device to have a better quality recording, although only one hour of video footage could be held. In contrast, the VHS offered poorer quality but with triple the storage capacity (up to three hours.) The result was that the VHS prevailed, with adult entertainment viewers now gaining access to 180 minutes of content. In an industry as large as this one, this small transition extended the longevity of the VHS and effectively put an end to Betamax.Looking forward to a more recent example, consider the technology transition between the HD DVD and Blu-ray. The HD DVD was already largely successful when Blu-ray was introduced, presenting a tough market to compete in. However, Blu-ray had more capacity to hold things like deleted scenes, behind-the-scenes footage and other actor commentaries, a reality that was realized in the adult entertainment industry. Therefore, like Betamax, the HD DVD was dead.As technology moves past Blu-ray and into Web3, it is only logical to conclude that the adult entertainment industry will once again pioneer a new era of technology evolution.Ushering in a new era for decentralized paymentToday, the adult industry has evolved far past studio-controlled content distributed by Blu-ray, into a model where creators are in charge of their creations. Despite having more autonomy, creators still face one barrier, how they will receive payment. Creators have little choice but to accept funds through traditional banking solutions, subjecting them to high fees, payment cancellations, chargebacks and account closures. Not to mention audience restrictions due to privacy concerns.Cryptocurrencies aim to resolve this, operating without an intermediary to ensure creators and clients can transact directly with one another. Due to their anonymous nature, cryptocurrencies also enable users to keep their identities concealed.A metaverse where adults come to playWith a potential solution to the gap in the market, it is not uncommon to see adult entertainment websites incorporating cryptocurrencies as a payment method into their website. However, newer platform releases have taken the application of blockchain technology and utility tokens one step further, creating entire ecosystems to maximize the fan experience.The Pleasure Network is demonstrating this by releasing a series of safe and inclusive adult platforms, powered by the Pleasure Coin utility token, NSFW. With NSFW, creators can be compensated for their content without the risk of a chargeback. The platform will effectively become a new way for fans and creators to connect, combining some of the highest-quality features from existing platforms.The token will also gain utility in the adult metaverse, Pleasureland. Pleasureland will include the Pink Tower, the first building in the metaverse, which will double as a place to store NFT assets, play, design, party or enjoy personal space. Users will also have the option to rent out their space to earn NSFW tokens.NSFW is said to be one of the fastest-growing tokens in the Polygon ecosystem — blockchain technology scaling transactional speeds to degrees beyond traditional credit card processing.And due to Pleasure Coin being designed as an ERC-20 token, it allows both creators and users to transact freely while keeping their identities and other personal information concealed.Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you with all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor can this article be considered as investment advice.

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Nonfungible airdrops: Could NFA become the next big acronym in the crypto space?

Nonfungible airdrops: Could NFA become the next big acronym in the crypto space?

Uverejnil používateľ | jún 23, 2022 |

Airdrops have become the bread and butter of the crypto world — for good reason.They’re an indispensable marketing tool for up-and-coming projects that want to create a buzz around their ecosystems.Done right, distributing free tokens to the public can help elevate demand — and unlock big benefits for recipients. After all, if these altcoins end up being listed on major exchanges at a later date, their value could explode.Unfortunately though, downsides have started to emerge. These campaigns aren’t just reaching enthusiasts who passionately believe in what a project has to offer, but “airdrop hunters” who are merely scouring for ways to turn a quick profit.Airdrop hunters typically want to sell off the tokens they’ve received for free — as soon as they can. And for cryptocurrency projects at their very early stages, this can be bad news — undermining carefully cultivated tokenomics and causing the value of a coin to fall.The current bear market has also unearthed another problem. Many projects are now postponing the schedules for unlocking new tokens — waiting until the economic climate improves slightly. And while this is usually in the best interests of a project and their investors in the long run, it can be disappointing news for those who won tokens in an airdrop. Why? Because they’re no longer able to freely trade or liquidate the digital assets they’re entitled to.So… what’s the answer? Can airdrops be revitalized, eliminating some of the downsides that have emerged in recent years? And is there a way for hodlers to benefit — even if they haven’t got their hands on tokens just yet?How NFTs can shake up airdropsRight now, projects are attempting to walk this tightrope between gaining publicity and engaging in marketing strategies that could damage their ecosystems. How can you get new users to follow a Telegram or Twitter account in order to be eligible for an airdrop, and incentivize them to stay involved with the community long term?Nonfungible airdrops — otherwise known as NFAs — could be the answer here. And, as you might expect, they incorporate some of the technology relied upon by NFTs to generate a “win-win” situation for projects and airdrop winners alike.NFAs aim to represent the true value of an airdrop reward when an initial DEX offering (otherwise known as an IDO) takes place. This is achieved through a model that’s not too dissimilar to a futures contract — an agreement to buy or sell assets that will be activated at a future date.The only difference is that the project owner releasing the NFA makes a promise to deliver the token or other digital assets on a future launch date. And as each airdrop winner ends up receiving different rewards under this model, there’s a one-of-a-kind gift that’s nonfungible.In this scenario, the nonfungible airdrop will boast a mechanism that allows holders to claim their tokens when a project launches — in effect, capturing the value of future tokens. Alternatively, it is possible to achieve instant returns by trading this NFA on a peer-to-peer marketplace. What makes this concept so compelling is that those who opt for an immediate transaction will miss out on perks in the long run.Nonfungible airdrops can be equipped with exclusive avatars and special benefits, such as discounts and free trials on the goods and services offered by a crypto project. Holders could also be granted exclusive early access to future features — and better still, their tokens will be waiting for them when they launch.Have your cake and eat itArken Finance says it is the mastermind of the world’s first nonfungible airdrop, a concept that has the potential to shake up the DeFi landscape immeasurably.The DeFi trading portal can be found across eight networks — and its goal is to arm investors with a greater number of trading tools, all while reducing friction.Arken had commenced an airdrop campaign back in November 2021, but this was postponed as the markets began to cool. Now, it’s pioneered NFAs as a way of igniting excitement about its future plans without falling into the common pitfalls of airdrops that have surfaced.Now, 2,000 winners of its trading competition have been rewarded with their very own NFA — each storing a different amount of tokens, and each with different benefits. They’ll be able to reclaim this cryptocurrency at a later date, but there’s plenty of exclusive advantages to keep them occupied in the meantime.”The team strongly believes in this application and is confident that this technology can be marketed to DeFi project owners in the future,” Arken said in a recent blog post.And while enthusiasts may have missed out on the chance to own one of the first-ever NFAs during the initial airdrop, the project says subsequent rounds are planned in the future.Some of the perks include an exemption from fees for the first 24 hours of a trading competition — and NFA holders will have their own special tier in the contest. On this mini-competitive track, they’ll subsequently be entitled to separate rewards. In addition, exclusive insights and fast-lane customer support is provided through a VIP Discord channel, and owners will have a front-row seat to the premium features that Arken Finance has in the pipeline.It’s a bold experiment, and one that could unleash new levels of loyalty in crypto projects that are getting off the ground for the first time. And for those who win airdrops, it delivers far more than tokens. Not only will they have a status symbol in the form of distinctive avatars that few members of the community own, but they’ll get an enhanced experience through VIP channels and front-of-the-line customer support. For those who really believe in a project’s potential, that’s gold dust in itself.There’s excitement as Arken Finance’s cutting-edge experiment continues — and the project’s hoping that “NFA” will be the next acronym to become prolific in cryptocurrency circles.Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you with all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor can this article be considered as investment advice.

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