Huge amounts of money are being poured into attempting to resolve institutionalized flaws within government service delivery.

As recently as November 2017, the government of the UK committed £20 mln (approximately $27 mln in the US). Just as fintech has emerged as one of the fastest growing modern industrial sectors, it appears that ‘GovTech’ may join it in prosperity soon.

Key services which the UK’s initiative is claimed to potentially tackle, via the country’s official municipal website, are “reducing traffic jams, freeing up teachers’ time and improving the experience of patients visiting their GP.”

There are logistical issues which are not sufficiently tackled by governments the world over. Furthermore, these appear to be issues which can simply be solved through improved processes: as such, their improvement via technology is a logical next step when considering the role of automation in industrial growth.

The problem with nation states

The fact that nation state governments cling to their authority to control these processes despite their inability to provide the best services possible exposes a significant flaw in the existing system. If others can provide a better service then perhaps it’s time that we removed this obsolete middle-man altogether – and the wasted expenses for which the public foots the bill.

In this light: many citizens feel disenfranchised by the ordinance structures which their lives are governed by at present. One reason for this could be representation by a candidate they do not have faith at the national/international political level. Another might be an arguably inherent inefficiency which is enabled and encouraged by existing governance systems, as well as the vested financial interests held by influential third parties.

When you think about the subject of sovereignty the first things that probably come to mind are the restrictive borders of geographic location, and ruling political leadership of national authorities. Even in so-called democratic administrations, these authorities are most often run by a political party which has received no more than 55 percent of the popular vote (or even less for coalition governments).

Regimes, benign or not, have proven to be obtrusive to social, technological and economic progress in many ways – just like the barrier between government and technology itself.

A decentralized marketplace for government services

‘Bitnation’ hails itself as a Blockchain-based solution to the drawbacks or absence of services provided by traditional governments or “service providers” as they have been called by the Bitnation’s Founder and Chief Executive Susanne Tarkowski Tempelhof when speaking to Max Keiser of RT.

Bitnation seeks to pioneer decentralized, smart-contract based governance and help to overcome political, economic and geographic barriers posed by borders and overreaching regulations. Superseding the structures traditionally provided by these nation-states; this new Ethereum-based platform is set to provide superior services which are “better, cheaper, and fairer in a distributed and voluntary way.”

As such, people can join various competing “service providers” without having to conform to location or generalized tax without their explicit consent. The dual nature of their tokenized economy (non-tradable reputation tokens and tradeable ‘PAT’ or ‘Pangea Arbitration Tokens’) is set to discourage corruption actively.

A Blockchain based neighborhood watch style service is set to be one of the first services rolled out and will act as one of the early real-life use cases for the platform.

Singer and number one Twitter celebrity Katy Perry has joined the crypto craze by posting an image of her crypto-themed manicure on Instagram Thursday, Jan. 25.

Perry’s nails are now decorated with 3D images of five cryptocurrencies superimposed over a background of US dollar bills: the currencies are Bitcoin, Ethereum, Litecoin, Stellar and Monero. The singer did not disclose the reasons behind her selection. post – captioned “$—CrYpTo ClAwS—$” – has managed to amass over 150,000 likes.

Perry has also tagged the Instagram accounts of all five cryptocurrencies – ethereum_updates, litecoinofficial, bit, stellarlumens and moneroofficial.

More and more celebrities have been exposing their involvement in crypto lately.

Earlier this week, rapper 50 Cent was reported to have made about 700 bitcoins when he started accepting Bitcoin for his album released in 2014. He only remembered about his Bitcoin stash, which now amounts to about $7 mln, this week.

The European Central Bank (ECB) says it “expects” cryptocurrency regulation to be high on the agenda at the G20 Summit in Buenos Aires this March.

In comments at an event during the ongoing World Economic Forum 2018 in Davos, ECB board member Benoit Coeure added further weight to France’s economy minister Brune Le Maire’s vow to make Bitcoin a topic at the political forum.

The international community is… preparing an answer to that and I would expect, for instance, the G20 discussion in Buenos Aires in March to focus very much on these issues,” Coeure said quoted by Reuters.

Le Maire had previously expressed a desire to have Bitcoin regulation feature on the G20 agenda, with various entities repeating calls for an international regulatory effort on cryptocurrency during the WEF.

British prime minister Theresa May and US Treasury secretary steven Mnuchin both expressed the need to consolidate standpoints, while former US Secretary of State John Kerry told Cointelegraph the technology “had value” and that people were thus going to talk about it.

Elsewhere in Europe, Sweden’s deputy central bank governor has stopped short of calling for heightened control of cryptocurrencies, saying at the WEF they “don’t meet the criteria to be called money.”

They can be called an asset, fine, but they are not a very good version of money because it’s not a very stable store of value where they fluctuate a lot,” she continued adopting a frequent narrative on Bitcoin’s use. “And it’s not a very efficient medium of exchange because you don’t buy your groceries with bitcoin.”

Aiming to transform cryptocurrency trading, CryptoIdol- a versatile cryptocurrency exchange with support for 12 major cryptocurrencies is launched in India. CryptoIdol is a completely secure and technically advanced cryptocurrency exchange portal that is backed by Zimba Infonet LLP.

This press release was orginally distributed by ReleaseWire

Ahmedabad, Gujarat — (ReleaseWire) — 01/22/2018 — With an aim to take major cryptocurrencies to the doorsteps of common investors, CryptoIdol- a modern cryptocurrency exchange was launched at Ahmedabad, today. Using CryptoIdol’s advanced platform, a user can start trading in multiple cryptocurrencies within minutes. Unlike other trading exchanges in India, CryptoIdol promises fast KYC approvals and quick withdrawals owing to an advanced tech platform and sound backend infrastructure.

“We wanted to extend the benefits of investing in cryptocurrencies to common people and offer all the major cryptocurrency investment options on a single platform.” informed Mayur Saparia, co-founder of CryptoIdol. A venture of Zimba Infonet LLP, CryptoIdol boasts of being one of the smartest and fastest cryptocurrency trading platforms in India.

On top of its promise of being the fastest cryptocurrency exchange, CryptoIdol has another visible advantage over other Indian trading platforms. Apart from just 5 major cryptocurrencies- Bitcoin, Ethereum, Ripple, Bitcoin Cash and Litecoin, CryptoIdol also supports 7 other growing cryptocurrencies, at present. The platform has plans to support other cryptocurrencies in the future, making it the most versatile trading platforms in India.

Aiming to make cryptocurrency trading an indispensable part of an investor’s life, CryptoIdol promises simplified trading and lower fees than other trading platforms. CryptoIdol boasts of an efficient dashboard that makes the whole trading process hassle-free. With advance trading feature and stop order feature, even an amateur investor can book profits with ease using CryptoIdol.

CryptoIdol platform is highly secure, supports multiple payment options and gives the option to study live price charts for all major cryptocurrencies. This helps an investor to identify investment and growth opportunities with ease, without having to research about price and growth trends using external sources.

The major benefit of using CryptoIdol exchange is the availability of vast cryptocurrency options that are nowhere to be found in India. With the cryptocurrency enthusiasm at an all-time high, newer cryptocurrencies offer significant promise at cheaper rates. CryptoIdol envisions offering the taste of these low hanging fruits to investors without any spurious promises.

CryptoIdol also runs a referral program that gives every person a chance to earn cash rewards by inviting friends to join CryptoIdol using their referral link. Both the person who invites and the person who joins get a cash reward in CryptoIdol wallet on successfully fulfilling referral criteria. Along with referral program, CryptoIdol also runs multiple promotional offers that give users a chance to win Bitcoins worth Rs.1 Lakh. The chance to win depends on fulfilling a specified criteria. Other promotional offers promise users a rebate of up to Rs.1000 in the trading fee during the first month.

As CryptoIdol is an exchange backed by experienced investors and blockchain professionals, the platform is technologically, financially and technically-sounder than other exchange platforms. What’s more, the low transaction fee on CryptoIdol offers an added advantage to a common investor. All in all, CryptoIdol looks forward to transforming cryptocurrency trading landscape in India through its promise of multiple investment options, low transaction fee and best-in-class technological backend infrastructure.

About CryptoIdol & Zimba Infonet LLP
CryptoIdol is the most promising cryptocurrency exchange in India that gives crypto investors the option to trade in 12 major cryptocurrencies on a single platform in INR. With support for Bitcoin, Ethereum, Bitcoin Cash, Ripple, Litecoin, Dash, Neo, Ethereum Classic, Lisk, Dogecoin, Digibyte and Peercoin, CryptoIdol is one of the most promising cryptocurrency exchanges, operational in India. Backed by Zimba Infotech LLP- an established digital marketing company, CryptoIdol promises simplicity, reliability and profitability for common investors. Zimba Infotech LLP has been founded by experienced tech professionals and has been providing reliable digital marketing solutions to clients across the globe.

To join:

Tokyo-based crypto exchange bitFlyer was issued a Payment Institution license to operate in the European Union, the exchange reported Monday, Jan. 22. The license was granted to the exchange by the Luxembourg regulator, Commission de Surveillance du Secteur Financier (CSSF).

BitFlyer, which entered the US market compliantly as of fall 2017, already operates in Japan under a license granted by the Financial Services Agency (FSA).

Yuzo Kano, the founder and CEO of bitFlyer, said in the press release,

“I am proud that we are now the most compliant virtual currency exchange in the world; this coveted regulatory status gives our customers, our company and the virtual currency industry as a whole a very positive future outlook.”

While the company will initially offer only a BTC/EUR pair in the EU, other virtual currencies like Litecoin, Ethereum, Ethereum Classic, and Bitcoin Cash will be added to the bitFlyer Europe platform later this year.

BitFlyer traded a total of just under $300 mln in the past 24 hours to press time, currently ranking 14th by trading volume on CoinMarketCap.

Global regulation

Countries all over the world have been struggling to decide how to regulate cryptocurrencies, from several US states introducing licenses to operate within regulatory framework, to China closing all of its crypto exchanges.

Japan is one of the few countries to officially recognize Bitcoin (BTC) and other cryptocurrencies as money, a move that has allowed major Japanese banks to be comfortable investing a large amount of money into bitFlyer.

Germany’s Bundesbank has said that regulation in general, which for many is an anathema to the decentralized nature of all cryptocurrencies, will only work on a global scale.

America’s largest cryptocurrency exchange Coinbase reportedly made $1 billion in revenue in 2017, overshooting its 2017 revenue forecast of $600 mln by 66 percent, Recode reports, citing “industry sources.” According to Recode, despite the peaked interest of outside investors, the company remains private and does not allow stock to be traded on secondary markets.

The platform was swamped by an influx of new users looking to set up trading accounts as Bitcoin entered a massive bull run in November, 2017. Following the announcement of Bitcoin futures launch early that month on CME, Coinbase saw 100,000 new users sign up in just 24 hours.

Although Bitcoin’s long bull run ended in the week leading up to Christmas, its rise to an all time high of $20,000 in mid-December saw Coinbase make massive revenues through trades on its platform.

The cryptocurrency exchange makes revenue by charging fees for fiat to crypto conversions via its Buy/Sell feature and for trades on its GDAX exchange.

Investors clawing for stake in Coinbase

The success of Coinbase has not gone unnoticed by investors and venture capitalists. According to Recode’s report, shares in the company are being sought out on a number of fronts.

However, Coinbase shareholders have been told not to sell their shares to outside parties. Doing so would constitute a breach of policy, Coinbase told Recode in a statement:

“As a private company, Coinbase does not allow trading of stock on secondary markets for a variety of reasons, including the fact that there is not full and equal information available to the market. We will take appropriate action if we find people have sold Coinbase shares in violation of our agreements not to do so.”

In August 2017, Coinbase raised $100 mln in a series D funding run aimed at increasing its engineering and customer service teams as well as opening a new GDAX office in New York. Investors that missed out on the latest fundraising series are trying their best to entice current shareholders to part ways with lucrative shares, Recode reported.

By December, Coinbase had over 13 million users — more than mainstream brokerage firm Charles Schwab.

Yale economics professor and Nobel Laureate Robert Shiller has admitted in an interview with CNBC Thursday, Jan. 18., that he now “doesn’t know what to make of Bitcoin ultimately” after earlier calling it “the best example of a bubble”.

In fresh comments Thursday, several months after he told host Brian Kelly it was Bitcoin’s “story” not its value that had sparked public interest in it, Shiller told reporters “it [Bitcoin] has no value at all unless there is some common consensus that it has value. Other things like gold would at least have some value if people didn’t see it as an investment,” repeating a common narrative that investment in Bitcoin is like the 17th-century Tulip Mania.

Though he admitted his uncertainty as to what Bitcoin’s fate will be, Shiller overall remains sceptical, stating:

“[Bitcoin] might totally collapse and be forgotten and I think that’s a good likely outcome but it could linger on for a good long time, it could be here in 100 years.”

Bitcoin’s two-day slump this week has partially recovered to challenge $12,000, making it worth over 160 percent more than when Shiller made his previous bubble claims in early September, 2017.