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The Future of Lending is Right Now - Etherecash

We at Etherecash have reached our first objective early, and the reaction from the community has been very positive and overwhelming. So, we would all like to take this chance to say a very big and ...

Sincere Thank You to All of Our Supporters and Contributors!

The future of sending, lending and spending is upon us, and we are one very big step towards creating the kind of financial ecosystem that is a much-needed reality for billions around the globe.

Since launching the ICO, we have had ...

Over 45,000 Registrations

… and more are coming in fast! Showing that the time is ripe for this idea to take hold and become commonplace. It is the perfect opportunity to take action towards a better financial tomorrow, today. However, now ...

Over $30 million has been contributed already

… and this means our target for the ICO has been reached and we will be closing it early.

We have set the deadline.

ICO Finishes 12th December at 6:29 PM (GMT)

The Early Bird Bonus Tokens will be issued to all those who took advantage of it and contributions will be allocated in a structured milestone based plan consistent with our development roadmap.

We all look forward to keeping you plugged into our development adventure which is only just beginning. For those that have just noticed us, ...

Be a part of the financial revolution and join today. Etherecash.io

[etherecash1-blog]

Blockchain Could Bring Our Binge-Watching to the Next Level

Faster and competitively priced broadband services have fuelled the growth of online video streaming services, creating the “Over-The-Top” (OTT) market.

The top three paid OTT providers are Netflix, Amazon, and Hulu. The peak time viewers tune in is prime time hours. Traditional TV viewing is dropping as consumers adapt to new ways of viewing television.

Globally, the OTT market worth is now estimated to be $35.22 Billion.

Blockchain Marks the Advancement of Peer-to-Peer (P2P) File Sharing

Peer-to-peer file sharing doomed the music industry in the early noughties with the development of the free MP3 file sharing app, Napster. In fact, the app was so devastating it was dubbed the killer app of its day. That was the start of the era the internet is in now. People can search and access free MP3 files, music albums, films, entire TV series, box sets and eBooks. Practically everything online is accessible for free.

P2P sharing is costing the entertainment sector millions. It’s affecting the livelihoods of creative entrepreneurs and forcing some to give up their dreams, hopes and aspirations because they’ve been robbed of the ability to profit from their work.

So you’d think P2P would be a bad thing!

Not so. Blockchain makes things truly peer-to-peer. The file-sharing systems used just now are centralized, which means someone somewhere administers the network.

Blockchain is decentralized. There is no single administrator. It’s a secure track-and-trade technology enabling the trading of anything - not just digital assets, but physical entities too.

Instead of the entertainment industries fearing the blockchain, they’re desperate for it.

Blockchain Video Sharing Platforms Are in Development

While the top 3 OTT platforms battle it out for viewer attention for revenue retention, tech teams are busy developing the blockchain technology that all OTT platforms have failed to recognize.

The Huge Potential of Independent Films.

Thousands of indie films are released every day by production companies globally and across multiple genres. Imagine an entire Film Catalogue from every major film market the world over. America, Europe, Hong Kong, Cannes, all connected to producers, distributors, directors and actors simultaneously on a blockchain video streaming platform.

Smart-contract functionality would enable pay-per-view transactions with percentages split automatically to all parties at the time of payment - and without the need for a central administrator.

That is what’s in early stage development by Stream Token, Viewly, and Livepeer.

Projects are underway to develop blockchain video streaming platforms that will connect thousands of entrepreneurial creatives and a library of thousands of indie films with the genres of the top 3 OTT platforms combined into one central hub.

Binge-watching will change as global audiences gain access to smaller productions that are gate-locked out of the mainstream.

The only thing that will stand in the way of indie film producers getting airtime will be the funding required post-production. That’s estimated to exceed $100,000.

That's where Etherecash could lend a hand.

It’s Etherecash’s ambition to provide the world's first peer-to-peer lending platform leveraging the decentralization of blockchain, fully integrated with lawyer backed smart contracts, near real-time revenue share and reporting functionalities.

This will assist in streamlining funding for film producers to create their film productions, which is typically hard to find.

Purchase our Etherecash token through our ICO from November 15th 2017. Developed on the ERC20 blockchain technology with lawyer backed contracts, to make blockchain backed lending and fund management, private and seamless.

Buy our tokens now. Visit Etherecash.io.

[etherecash1-blog]

How the Blockchain Is Revolutionizing ESports

A Newzoo research study indicates that revenue from eSports will grow to $700m in 2017. That’s a 41.3% increase from last year. By 2020, it is projected that the industry will reach $1.5 billion in revenue. It is little wonder major companies and celebrities are taking a keen interest in eSports.

Esports Presents an Untapped Market

Although we are only now having a conversation regarding blockchain technology and eSports, the idea is not new to gamers. Gamers and indeed the eSports community at large tend to quickly embrace new technologies. Even as the debate rages on if and how blockchain technology should influence eSports, gamers and eSports enthusiasts are already using cryptocurrencies.

Demographics largely comes to play with this easy transition. Millennials are more likely to be gamers or eSports enthusiasts, and this age group is already synonymous with the quick and early adoption of new technologies. It makes sense that the eSports industry would be at the forefront of the blockchain and digital currency conversation.

The growth of the eSports sector can also be attributed to the benefits that can be derived from blockchain’s ability to leverage smart contracts to make the purchase of virtual assets easier. This is why many eSports start-ups are turning to blockchain technology now more than ever.

Betting on eSports Is Cool

With over 500 million people gathering to watch eSports tournaments regularly, there’s clearly a giant market ripe for evolution. Currently, most of the revenue from eSports is generated from advertising and sponsorship - even when eSports betting could easily surpass NFL betting (which currently stands at $13 million a year).

There are a few problems that eSports betting has to overcome in order to successfully encourage enthusiasts to participate more. The current eSports betting platforms suffer from a complete lack of transparency and user-friendliness. These are issues that blockchain technology innovations could easily fix.

A blockchain-based platform could provide a decentralized and incorruptible way for eSports enthusiasts to place bets by using smart contracts. The current betting platforms don’t offer any kind of transparency on how betting is handled or how much the platform takes in commissions. Bettors are never sure what their returns on their bets will be.

With more digital currencies adopting the smart contract-technology, eSports betting is bound to go mainstream. Take Etherecash for instance. A bettor using Etherecash tokens to place bets can expect transparency since the system will detail all transactions in a transparent manner. They can also expect to place bets without involving a third-party financial service thanks to Etherecash’s smart contracts.

The transparency provided by blockchain technology means that the industry can grow into its potential. ESports enthusiasts can safely place bets and amateur gamers can have the opportunity to become pros with extra revenue easily. The profitable tournament environment means that gamers can sharpen their skills since blockchain technology will remove barriers to entry and allow for teams to come together more easily.

Blockchain technology further opens up opportunities in eSports by fostering contractual financial relations between players and enthusiasts without the need for third-party institutions. This is made possible by smart contracts much like the one Etherecash employs.

Purchase our Etherecash token through our ICO from November 15th 2017. Developed on the ERC20 blockchain technology with lawyer backed contracts, to make blockchain backed lending and fund management, private and seamless.

Buy our tokens now. Visit Etherecash.io.

[etherecash1-blog]

Will the Blockchain Be Our Next Internet, Email, or Smartphone?

Technology and the internet are moving at a fast pace. Knowing the latest and greatest in developing technology is essential in understanding the world we live in, especially when it comes to technology that could be the next internet, email or even smartphone.

So what exactly is coming, and why is it important to know about this disruptive technology?

The Emergence of Blockchain

The blockchain first existed as a public ledger to allow for the existence of cryptocurrency - namely, Bitcoin. Bitcoin is still available today, and its price and popularity have only increased, with top influencers endorsing it and even investing in it. Bitcoin has also led the way for thousands of other cryptocurrencies following its lead.

Security and the Government

A blockchain-based system itself is very secure and transparent. It’s also decentralized, so it can’t be controlled (or tampered with) by any single entity.

Blockchain technology allows for users to be secure while still allowing for transparency thanks to its two-key system. Each user has a private key only known to them, kept private usually using a third party digital “wallet” service. Users also have a public key that serves as their unique, visible address. This key is used to conduct transactions, which are permanently recorded in the blockchain ledger.

What this means is complete freedom from government taxes, banking fees, or any type of third party intrusion into your financial affairs.

Present and Future Innovations

“The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.” -Don & Alex Tapscott, authors Blockchain Revolution (2016)

Although the Blockchain technology was originally made for cryptocurrencies, it has vast potential outside of the financial industry.

Take one example: the music industry. Artists are looking to the blockchain to provide them with a secure way to distribute not just funds but also the music itself! The blockchain ledger could hold the key to stopping copyright infringement by recording every single album purchase, and tracking an artist’s work as it travels and is sold to different consumers.

Blockchain technology is already transforming many more fields - food production and transportation, the stock market exchange, artificial intelligence, even politics and government.

Authors of Blockchain topics like Melanie Swan foresee Blockchain as "the next huge wave in technology." Indeed, this is a technology foreseen by the experts to dominate the world, on a scale similar to the internet’s introduction.

Final Thoughts

Looking back, who could've imagined that these innovations that were nonexistent before-- outsourcing, working at home, emails, developments in cryptography, mobile phones, touch screen gadgets, and Android, to name a few-- would actually happen today? Etherecash.io provides all the kinds of services which allows you to have a new way of controlling your finances.

Blockchain, for now, seems like a complex system, but you don’t need to know exactly how it works to understand the implications it will have on our world today. Its decentralized nature will lead us to view entire industries in a radically different light - and revolutionize the free market as we know it.

With the help and support of Etherecash, you can invest with full confidence, as the team is ever ready to guide you. Etherecash makes use of the ERC20 blockchain technology with lawyer backed contracts, making blockchain backed lending and fund management, private and seamless.

Purchase our Etherecash token through our ICO from November 15th 2017. Developed on the ERC20 blockchain technology with lawyer backed contracts, to make blockchain backed lending and fund management, private and seamless.

Buy our tokens now. Visit Etherecash.io.

[etherecash1-blog]

Wells Fargo’s Lawsuits Only the Tip of the Iceberg

It began last year as 2 million fake Wells Fargo credit card accounts were uncovered - now estimated to be 3.5 million or more. Following news of the scandal came the firing of 5,300 employees, one of whom Wells Fargo has been ordered by the Department of Labor to rehire and pay remuneration of $575,000.

That’s only the opener into what’s facing Wells Fargo.

The Hammering Continues

What began as the forging of sales data has since spiraled out of control, damaged investor trust, consumer confidence, and the bank's bottom line.

Since the credit card scandal, the bank’s mortgage division has had a class action lawsuit filed for altering the terms of consumer mortgages belonging to those in bankruptcy. The auto insurance arm has also issued a notice stating they’ll be paying $80 million in remuneration to customers wrongly charged for auto Collateral Protection Insurance (CPI).

Just Another Day in the Financial Services Sector

The Wells Fargo fiasco is not isolated. Financial misconduct in banking is an industry-wide problem.

In 2015, the Consumer Protection Bureau fined PayPal $25 million for deceptive practices resulting in consumers signing up for PayPal Credit without realizing it.

 In 2016, Santander Bank was fined $10 million for charging customers overdraft fees without the customer's' consent.

Citibank was fined $70M for deceptive marketing practices and had to refund $700 million to the 9 million customers they duped with hidden fees.

Over the past seven years, the world's top 20 banks have paid a cumulative $235 billion in regulatory fines and consumer remuneration.

History Will Forever Repeat until Blockchain Steps In

Earlier this year, executives of Wells Fargo confirmed they are making radical changes internally. One of those was to invest in technology.

What type isn't clarified. However, separate documentation shows that the bank is working in partnership with Australian Bank ANZ, which has published a Proof of Concept (PoC) paper for the use of distributed ledger technology in correspondent banking.

Why?

Blockchain Is the Only True Trustless Solution Currently Available

When money’s involved, historical cases in the finance sector prove that people cannot be trusted. The blockchain is trustless in that it’s tamperproof.

Overhauling the industry is a long way away. It’s far easier to make progress by introducing a new platform and forcing the industry to evolve or die - which is exactly what Etherecash is working on doing.

Using blockchain technology and the Ethereum platform, Etherecash is developing a blockchain application geared towards the peer-to-peer lending sector. This will bring transparent reporting with accurate records on a tamperproof ledger, increasing the speed of transactions and enabling the use of lawyer-backed smart contracts.

One transparent platform, focused on personal financial freedom, can bring accountability to the financial industry as a whole. We’re one step closer to ridding the industry of the malpractices that are tarnishing Wells Fargo and affecting the investments of many a shareholder in finance firms.

This is the beginning of a new era in technology. Moves are being made by big banks and technology firms to develop tools that will put an end to corporate financial fraud.

Etherecash is playing an active role on that front. We invite you to be part of this transformation. Early investor opportunities are available.

Purchase our Etherecash token through our ICO from November 15th 2017. Developed on the ERC20 blockchain technology with lawyer backed contracts, to make blockchain backed lending and fund management, private and seamless.

Buy our tokens now. Visit Etherecash.io.  

[etherecash1-blog]

Wall Street Meets Blockchain: Clash of the Giants

Once only an eight-block street in Manhattan, Wall Street has since grown to be synonymous with the US financial markets and services as a whole. This is a gigantic establishment, unquestionably claiming its place as the home of the business and especially financial elite.

However, there are still underlying — and very serious — problems that plague Wall Street that could be solved with blockchain.

Is Wall Street Outdated?

In the digital age, it’s strange to think that Wall Street still uses some of the same policies that were created at its beginning. In particular, the policies that the Depository Trust & Clearing Corporation (DTCC — the actual owner of records for most stocks traded in the US) is guilty of, being relics from a time before the internet and the technology available today.

One outdated policy that’s particularly troubling regards the ‘chill’ period that is instilled when a public company chooses to go private. Trades can still happen, but they are ignored and undocumented by the DTCC.

It’s outdated rules such as these that make it possible for companies to oversell stocks that they don’t even have. Dole, for example, found out that they had 12 million shares unaccounted for — something only brought to light during a class action lawsuit. Dole wasn’t even aware that these shares existed.

With a blockchain-based platform, it would be impossible for a situation like this. Every share would be accounted for, even when they are sold and traded. The Blockchain could reveal any shady practices a company may be trying to hide using privacy as the excuse.

The Opportunity to Revolutionize Wall Street

With the way Wall Street operates today, there’s plenty of room for improvement. The question is: what will revolutionize the way stocks are handled? One thing that’s guaranteed to do just that is blockchain technology.

The Blockchain’s digital ledger system would legitimize all trades on Wall Street. The very core of blockchain technology requires public records, controlled by a network rather than any single person. Every time a stock is sold, ownership is instantly transferred to the new owner and the information of every person, or business, that has controlled a given stock is kept within the blockchain. The information cannot be altered or falsified.

Another aspect of the blockchain is that it removes the necessity of an intermediary, such as the DTCC, to validate or move goods from person to person. That will save time and money since there will be no extra fees with a middleman. The blockchain can keep track of all that information and complete the transaction immediately with the help of a Smart Contract once all of the obligations of that contract have been met.

The Integration of Blockchain

Even with Wall Street known around the world as a corporate giant, there’s no denying that there’s room to grow. Or, that blockchain will change everything about how the world works. Especially financially.

Companies like Etherecash are working hard to implement their own blockchain-based platform, backed by cryptography which significantly improves transparency, security, and reliability using Smart Contracts. They aim to “help bridge the gap between those with access to finance and those without, eliminating borders, intermediaries, and prejudices.”

Purchase our Etherecash token through our ICO from November 15th 2017. Developed on the ERC20 blockchain technology with lawyer backed contracts, to make blockchain backed lending and fund management, private and seamless.

Buy our tokens now. Visit Etherecash.io.

[etherecash1-blog]

How Blockchain Could Fix Frightening Stock Market Instability

Amid the current tough economic times, stock market instability is a serious concern. An uncertain tomorrow makes investments in stocks a risky option. Regulators seem incapable of detecting anomalies before they blow up into a nightmare for investors.

Despite advancements in technology, the stock market runs on the same model it did centuries ago. But unknown to many, a better way to manage stock market instability and promote transparency does exist.

Blockchain to the Rescue

The blockchain is set to revolutionize how stock exchange transactions operate. By eliminating intermediaries, championing transparency, and safeguarding the privacy of its users, it’s easy to understand why many consider blockchain the next step in our internet revolution.

The blockchain’s utilization of data mining tools, smart contracts and other analytical tools help recognize underlying anomalies such as creditworthiness. Add that to the ability of blockchain technology to eliminate intermediaries and enable the direct transfer of shares between investors and you have a system that is nearly flawless. This makes a traditionally long process shorter, more efficient, cheap, and secure.

Blockchain technology’s biggest selling point, however, remains the ability to be transparent and secure, reducing the chances of market hysteria due to information availability.

That same information availability also allows third parties to more easily identify and quantify risks. A problem identified is a problem half solved!

Blockchain technology’s tentacles of reach are extending beyond cryptocurrency to the stock exchange and currently to the banking industry.

Blockchain-based platforms such as Etherecash are set to change the banking concept by eliminating intermediaries, borders, and prejudices. Through its use of Smart Contract technology, which is lawyer backed, Etherecash aims to improve transparency, security, and reliability by providing peer to peer loans backed by crypto. Imagine a world without banks and financial transactions without annoying banking fees. Now that is revolutionary!

The Future of the Stock Exchange

Globally, a trend towards blockchain use in financial transactions is taking root. The Australian Securities Exchange (ASX) has already acquired Digital Asset Holding, a US-based developer of blockchain technology, joining other regulators and businesses keen to buy into the technology which propelled the cryptocurrency bitcoin to unprecedented success.

The blockchain revolution is already going global. The Korea Exchange, in collaboration with Blocko’s blockchain technology, intends to use blockchain to allow the trading of equity shares of startup companies on the open market. The Japan Exchange Group, on the other hand, are testing the potential of blockchain technology for trading in low transactions markets.

The rapid spread of blockchain technology points to a future completely dependent on it for all financial transactions. Of immediate concern, however, is the adoption of blockchain in the stock exchange market. It could prove to be our only hope for a more stable, transparent, and efficient stock market.

An investment in a blockchain technology company such as Etherecash holds the most potential for wealth generation going forward. It is an investment in the future whose returns may surprise you sooner rather than you think.

Purchase our Etherecash token through our ICO from November 15th, 2017. Developed on the ERC20 blockchain technology with lawyer backed contracts, to make blockchain backed lending and fund management, private and seamless.

Buy our tokens now. Visit Etherecash.io.

[etherecash1-blog]

Is Amazon Planning to Get Involved with Cryptocurrency?

According to CNBC, Amazon recently bought the domain names AmazonEthereum.com, AmazonCryptocurrency.com and AmazonCryptocurrencies.com. This decision is generating a lot of interest, especially since Amazon has said in the past that they will not be accepting cryptocurrency payments anytime soon.

So, why would Amazon seemingly put a stamp of approval on cryptocurrencies in such a huge way?

What Amazon Could Use the Domain Names For

This is not the first time the company has been at the center of rumors related to cryptocurrency. There has been speculation in the past that Amazon would accept cryptocurrency payments, but those have remained rumors with Amazon stating that they were untrue on more than one occasion.

But this recent step by the company further escalates the speculation. Could Amazon be shaping up to provide brokerage services for cryptocurrencies? It is also a possibility that Amazon might try to create its own digital currency system.

Bitcoin’s success has seen a rise in many companies considering creating their own digital tokens. Why shouldn’t Amazon consider the option? Either way, Amazon is staying quiet, and promising nothing when it comes to cryptocurrencies.

Amazon Interests Could Be a Stamp of Approval

Over the years, Bitcoin and Ethereum have grown in value, attracting interest from investors all over the world. But many brick and mortar businesses, as well as online retailers, have yet to embrace blockchain. If Amazon’s interest in cryptocurrency leads to them embracing cryptocurrency payments, it is likely other retailers will follow suit.

Blockchain technology has evolved in recent times to make the industry more reliable and transparent. The use of Smart Contract technology, employed by platforms such as the Ethereum-based Etherecash, has made payments and financial management through cryptocurrency more reliable and secure. Large companies like Amazon, particularly those with a large online presence, would do well to embrace cryptocurrency payments as a secure and reliable alternative to traditional forms of payment.

Etherecash understands this more than most, which is why they’ve invested in a system that allows the average user to maintain their privacy and security. And, at the same time, ensure the process is as transparent as can be.

Amazon Could Be Simply Protecting Its Brand Name

While Amazon has denied plans to accept cryptocurrency payments on its platform, their latest action does spell that blockchain is becoming more mainstream. There is even a petition for Amazon to allow Litecoin payments on its platform, which Amazon has yet to respond to.

There’s also a strong possibility that by purchasing the three domain names, Amazon is simply trying to protect its brand name. The company has in the past purchased Amazonbitcoin.com which redirects directly to Amazon.com.

But even as we speculate, the fact that Amazon deems digital currencies important enough to take action indicates an investment opportunity. Amazon is essentially saying that there is space for investors to place their assets into cryptocurrencies. For other developing platforms, such as Etherecash, the move is a sign of the growing importance of cryptocurrencies for industries globally.

There is still no indication that Amazon will allow digital currency support or that they intend to launch their own form of digital currency. But the speculation is enough to indicate the company is taking cryptocurrencies very seriously. Are you?

The future of cryptocurrency is transparency, reliability and security. Purchase Etherecash ICO from November 15th, 2017 to secure your position.

Purchase our Etherecash token through our ICO from November 15th 2017. Developed on the ERC20 blockchain technology with lawyer backed contracts, to make blockchain backed lending and fund management, private and seamless.

Buy our tokens now. Visit Etherecash.io. 

[etherecash1-blog]

The Reason IT Experts are Putting Their Money Towards the Blockchain

The modern-day IT sector is vast, covering many areas where investors can make significant returns. AI, machine learning, and all types of disruptive technologies present some enticing opportunities for would-be investors - but none more so than the Blockchain.

Investors globally are betting big on the blockchain. The statistics indicate that these investments will only grow stronger as more developments emerge.

The Largest Global Companies Are Already Involved

Google Ventures, the venture capital arm of Google’s parent company Alphabet, is one of the key investors in emerging technologies. They have a strong team of renowned experts and know the potential for start-up growth and market disruption.

Another strong investor in emerging technologies is the giant Goldman Sachs.

Google Ventures and Goldman Sachs are the two most active investors in blockchain technology start-ups.

Investors and IT Experts Are Investing Differently

According to Goldman Sachs, only two Blockchain investments made this past year were over $100 million. Of those top ten investments, one of them was raised with zero venture capital. Instead, the investment came from an increasingly popular crowdsourced funding technique called an Initial Coin Offering (ICO). This funding method is also being used by Etherecash to fund the development of a peer-to-peer lending blockchain application using Smart Contracts.

Whether venture capitalists will move into the ICO space remains to be seen, but as already stated by Goldman Sachs, that’s where investments are producing tidy returns.

The greater the impact blockchain can have on any industry, the bigger the returns will be.

IT experts know that the investment pay-off is the business value-add, rather than the dollar amount. In a report produced by Gartner Inc, that value-add is expected to grow to slightly above $176 billion by 2025. But, by 2030, the business value-add will exceed $3.1 trillion!

Investment in Blockchain Will Only Get Stronger

Blockchain-use cases are being proactively explored by some of the most prominent organizations in the world, including BP, Shell, Statoil and eight multinational banking groups in Europe which formed a consortium to investigate use cases for blockchain.

In a report published on HuffingtonPost.com, Brett Colbert - Solutions CTO and Vice President of Enterprise Architecture at Salesforce - who has been researching and collaborating with experts in the blockchain space for the past three years, highlights where blockchain is heading:

“Soon to be disrupted industries will include,

Financial Services,

Healthcare,

Aviation,

Global Logistics and Shipping,

Transportation,

Music,

Manufacturing,

Security,

Media,

Identity,

Automotive,

Land Use and Government.”

And That’s Why IT Experts Globally are Taking the Blockchain Seriously!

It’s only a matter of time before blockchain technology breaks out of its research stages and becomes mainstream (in fact - it’s already begun).

Currently, the team at Etherecash see tremendous investment potential, making inroads towards a blockchain prototype built on the Ethereum platform for peer to peer lending.

Using Smart Contract technology, Etherecash is progressing towards developing a platform that will simplify loan applications and approvals, reduce the risk element, speed up the process from application to approval and have lawyer backed Smart Contracts streamlined into an automated process.

Purchase our Etherecash token through our ICO from November 15th 2017. Developed on the ERC20 blockchain technology with lawyer backed contracts, to make blockchain backed lending and fund management, private and seamless.

Buy our tokens now. Visit Etherecash.io.

[etherecash1-blog]

Blockchain-Based Trading Platform Backed by Energy Giants

Danish shipping firm Moller-Maersk in partnership with Microsoft was successful in their early blockchain trial for marine insurance. Major banks are in trial stages in Europe to use blockchain to increase security and the speed of cross-border Trade Finance.

Following a successful live oil trade between parties with Mercuria using blockchain technology, it’s shown that it is indeed possible to improve speed, reduce business risk and lower the costs of trading by using blockchain.

Why the fuss?

Traditional Paperwork Based Systems Are Incompatible with the Speed of Business

Business owners should not be interested in just making money, but also getting things done, because that’s how the profits come in.

Paper-based systems are time-consuming. Companies have to deal with more steps and more physical problems, such as paperwork needing to be passed from one department to the next.

Using the blockchain for transactions, and requiring independent verification, brings a potential for further cost savings.

Take for example the real estate sector. The transfer of ownership of a property requires an intermediary to first check there’s no fraudulent activity happening, and then the rest is just to change the name on the properties Title Deeds and update the Land Registry of the new owner’s details.

In essence, the intermediary fee is the cost of trust. Blockchain technology can eliminate that because it is tamperproof.

Why Giants are Spending Big on Future Technologies

Investors are business-savvy. They know the faster things move, the more business can be done. Therefore, profits can soar.

To put a monetary figure on the possible cost savings, a joint report titled Banking on Blockchain conducted by Accenture Consulting and McLagan analysed the world’s top investment banks.

The figure they come up with: $8 Billion annually.

A Massive Collaborative Effort by the Giants of Three Industries is On Board

The most recent move in the blockchain space saw a consortium of three sectors join forces.

Energy giants BP, Shell, and Statoil, the two trading houses Koch Supply & Trading and Mercuria (the latter having already successfully trialed a live oil trade using blockchain) all joined together. Three major banks are also part of this latest blockchain venture - ABN Amro, ING, and Societe Generale.

One Successful Experiment Proves the Need for Further Development

It’s clear from the early success of Mercuria that blockchain technology is going to be implemented in massive industries, one day. That day is getting closer.   A lot of R&D is being spent by major brands to explore the possibilities of blockchain to increase business efficiencies

The most advanced solution currently available relies on smart contracts, something these energy superstars are keen to integrate into their blockchain prototype.

The same smart contract functionality the energy firms are trialing is what Etherecash is using to build a blockchain application for peer to peer lending, using smart contracts on the Ethereum platform to back loans by qualified lawyers.

Purchase our Etherecash token through our ICO from November 15th 2017. Developed on the ERC20 blockchain technology with lawyer backed contracts, to make blockchain backed lending and fund management, private and seamless.

Buy our tokens now. Visit Etherecash.io.

[etherecash1-blog]

Companies Involved in Cryptocurrency See Skyrocketing Share Prices

Three companies in three countries have seen a roaring spike in their share prices this year. One as high as a 4089% share price increase. They all share one commonality, and that’s what they're focused on. Blockchain.

This is the same technology that's being used to "deploy smart contracts, fuel betting, host tournaments, and ease the purchase of virtual assets," in eSports and is predicted to grow the competitive gaming industry by 41.3% this year to a staggering worth of $700 Million.

Dig a little deeper, and there’s more to the share price increases than meets the eye.

A Whopping 394% Increase Driven by Sheer Blockchain Hype

Just the word Blockchain is enough to drive excitement among investors. On-Line Plc is an Essex-based company first listed in 1996. Two decades later, they rebranded to On-line Blockchain Plc.

The result?

In the two decades they’d been trading, just announcing the new name saw the firm’s biggest ever one-day gain of 394%.

Australia’s Digital X Invests Investment to Fuel Share Growth

Back in 2014, the Bitcoin Group emerged. Similar to the rebrand of On-line Plc to Blockchain Plc, the Bitcoin Group rebranded to become Blockchain Global Limited in 2016.

The company invested 4.35 Million USD into Digital X, the first blockchain company to be listed in Australia, giving Blockchain Global Limited a 40% stake in the company.

What did they do with the investment? Why they invested $2 Million of that into cryptocurrency, sat back and watched their share price go nuts.

Canada’s HIVE Blockchain Technologies Ltd Soars by 4089%

HIVE Blockchain Technologies is the biggest of all shakers. They managed to gain a record 4089% share price increase when they announced their strategic partnership with Genesis Mining Ltd.

Unlike any other cryptocurrency that’s ripe for mining, HIVE Blockchain Technologies focuses on mining Ethereum, and that’s where things get interesting for investors….

Ethereum has 92 million + coins in circulation, which is the largest of any cryptocurrency, making it an ideal mining ground for HIVE to focus on expanding their mining power. The strategic partnership with Genesis Mining Ltd will enable them to invest in new data centers proposed to be located in Sweden and Iceland.

Cryptocurrencies are Much More than Blockchain

As far as other cryptocurrencies go, many are just that. A currency. Where some blockchain platforms lag is in technological advancements. Ethereum is among the first platforms to let developers implement Smart Contracts using blockchain technology, and that's what's fuelling the higher share prices with service-based products built on Ethereum with Smart Contract functionality.

Ethereum was among the first public blockchain companies to introduce Smart Contracts with a heavy emphasis on decentralized applications (DAOs) and smart contract inclusion.

It’s this functionality that the team here at Etherecash is on a mission to fully utilize by developing the world’s first peer to peer loans service, backed by crypto and using the Smart Contract technology. A first of its kind, fast and secure loan service fully backed by lawyers.

Purchase our Etherecash token through our ICO from October 25th 2017. Developed on the ERC20 blockchain technology with lawyer backed contracts, to make blockchain backed lending and fund management, private and seamless.

Buy our tokens now. Visit Etherecash.io.

[etherecash1-blog]

The Tech That’s Changing Banking Today

In the past year, numerous businesses have been dramatically disrupted, with events such as India’s demonetization exercise and Brexit, bringing home that we are indeed living in a society that is fast-changing.

As new technologies continue to appear, banks can provide better quality services that lean more on hospitality. Established automation is providing a deeper, unique, and more personal banking experience that everyone can ultimately take advantage of.

Changes such as growing interest rates, confident business owners, and tax cuts contribute to the necessary profit increase for banks. These balance growing technology expenses while allowing banks to hasten the digitization of various processes and platforms.  

The Major Trends Controlling Technology Investments and Banking

Here are some of the major trends to watch for in the coming years.

Year of the Chatbot

According to the Washington Post, 2017 will be known as the year of the bot. In the coming years, banks will embrace conversational commerce (the future of communicating between applications).

Acceleration of Technology Transformation in Banks

Midsized to large banks have been making huge investments to revolutionize their business by employing excellent digital service providers. This does not only impact legacy systems, but also the resolutions about which firms they should partner with, invest in, and purchase from.

The Cloud First Strategy Banking

Cloud adoption has already been accepted by progressive banks. Disruptive automation that continues to alter the face of businesses will be leveraged by utilizing the process of cloud computing. A large number of banks have already grasped the idea that the agility of a business offered by cloud counterbalances the concerns.  

Cashless Environment

In India, demonetization continues to push forward to a cashless environment. As more banks further develop and prepare to deal with a large number of electronic transactions, the cloud will supply banks with the necessary elasticity to meet all the required demands.

More Blockchain

As banks continue to be more adept and quick to meet the continuously increasing demands of clients, blockchain will act as an enabler for re-imagining development. In the coming years, banks will start transferring more businesses from pilot to production and leverage blockchain to automatize inter-organizational methods.

Artificial Intelligence

This will further develop into a crucial capability that aids in driving more effective outcomes for clients, boost the adeptness of banks, while also solving talent shortfalls when it comes to the skills of banker advisory. Artificial intelligence has already been working with us via robo-advising for investment portfolios, Siri for phones, as well as chatbots for back office; we cannot deny that these will further spread across the front lines of banking in the coming months.  

Final Thoughts

Expect the incoming year to have more disruption, changes, and further developments. With the increasing necessity for digital transformation, banks will certainly find ways to boost their existing plans and will more likely arrange organizational changes that will be compelled by brand new leadership.

With the continuous progress of technology, it is a smart idea to take advantage of such trends to make business and communication easier and more efficient. One of the best ways to do so is by purchasing our Etherecash token through our ICO from November 15th, 2017. This has been developed on the ERC20 blockchain technology and features lawyer backed contracts, making blockchain fund management and backed lending smart, private, and seamless.

 Purchase our Etherecash token through our ICO from October 25th 2017. Developed on the ERC20 blockchain technology with lawyer backed contracts, to make blockchain backed lending and fund management, private and seamless.

Buy our tokens now. Visit Etherecash.io.

[etherecash1-blog]

Why the Solution to Mistrust in Banking Isn't Banks

Mistrust in banks has always been around since the beginning of financial institutions. But it didn’t come to the forefront of most consumers’ minds until the financial crisis of 2008. For the first time in the history of banking, consumers understood the risks banks were taking with their money, and many chose to take a step back.

Although the consumer-bank relationship has been somewhat restored since the crisis, mistrust remains. In fact, an EY Global Consumer Banking Survey in 2016 found that trust in banks is dwindling. The survey collected data from 55,000 respondents in 32 different countries with the findings indicating that 23% of bank customers have little or no trust that their bank will provide unbiased service.

Are Banks Doing Enough to Remedy the Situation?

While 23% of bank users having no trust in their bank may not seem like much, it still points to a customer-relations problem that banks have. The financial crisis of 2008 was an indication that banks seem to favor profits over their customers. The banking system is set up to cater more to a bank’s balance sheet than the welfare of the individuals trusting the bank to keep their money safe.

Indeed, one only needs to look at how a bank conducts its daily business. For instance, during the financial crisis, it became increasingly clear that banks were charging additional services that customers had no prior knowledge of. These additional charges were also not easy for the average user to detect.

Banks Are Not All Bad

The availability of banks and financial institutions have streamlined the financial sector, significantly reducing financial risk. Just by being there, they have also contributed to the expansion of financial opportunities for many of their customers.

Yet, about 40% of those surveyed said they were becoming less dependent on their banks as the primary financial services provider. They were choosing non-bank providers instead. This is a large number, and the reasons behind this migration are varied.

Banks lack a transparency on product pricing and features that modern customers are beginning to demand from a financial services provider.

They also have a poor record of “delighting” their customers, something the authors of the Global Consumer Banking Survey agree they need to work on.

They lack innovation in customer experiences, and customers are beginning to look elsewhere.

Banks Fail to See the Need to “Delight” their Customers

Of all these problems with the banking sector, one of the most important is customer service. The ability to “delight” the customer with new, innovative experiences is largely lacking. That is why 40% of customers choose non-bank institutions like Etherecash as a primary financial services provider.

Customers need to be at the top of the bank’s agenda. This means transparency, security and customer service need to be improved. Financial services providers like Etherecash understand the need for unbiased financial information and transparency in all matters finance. That’s why Etherecash offers a secure blockchain-backed system that allows users to lend, borrow, spend and send money easily and reliably.

If you are looking for a non-bank solution for your bank woes, the Blockchain backed lending and fund management gives you a seamless and private alternative.

Purchase our Etherecash token through our ICO from October 25th 2017. Developed on the ERC20 blockchain technology with lawyer backed contracts, to make blockchain backed lending and fund management, private and seamless.

Buy our tokens now. Visit Etherecash.io.

[etherecash1-blog]

Russia’s Approach to Cryptocurrency: What We Think

Russia is looking to becoming a cashless society with their own cryptocurrency called the ‘CryptoRuble.’ Though the use of these cryptocurrencies is not wholly accepted by other countries, for Russia, it promises to boost the country’s development and advancement.

Russia’s Advancement Over the EEC

Nikolay Nikiforov, Russia's Minister of Communication and Mass Media, said in an interview that if they don’t launch the CryptoRuble, then in 2 months, Russia's neighbors in the Eurasian Economic Community (EEC) will do it.

The CryptoRuble will use the blockchain technology.

Most users of cryptocurrencies use it largely because of one of the big selling points of cryptocurrency: the fact that it’s decentralized. But that's not the case with the CryptoRuble. Just like any regular currency, it will be issued and tracked. To be able to track the coin, it will use Russian designed encryption in a bid. The rate is 13% of the earned difference when buying and selling a CryptoRuble.

Boosting Russia By Preventing Criminal Fund Transfer

The major push behind Vladimir Putin issuing Russia’s own cryptocurrency is that it will be beneficial for the Russian government in collecting income taxes from individuals.

To prevent tax evasion and money laundering, the CryptoRuble will be the only cryptocurrency available and legal to Russian residents.

Since cryptocurrencies are decentralized, Russia has historically been worried about it being used by criminals. Their concern that drug cartels, human trafficking and terrorists may try to use the anonymous currency, has pushed them into allowing cryptocurrency as a mainstream currency, but with specific rules.

Citizens are required to declare where their CryptoRubles originated, or they will be charged a 13% fixed tax when converting the cryptocurrency into Russian rubles.

The Russian president added that even though in the past they may have been worried about criminal activity, recognizing the growth of cryptocurrency and investing in its future has become a necessity.

What This Means for Cryptocurrencies

As Russia moves to bring cryptocurrency into the spotlight, the value of cryptocurrencies and the blockchain increases. As Nikiforov wisely noted, countries who don’t start innovating with cryptocurrency and blockchain technology will quickly be left in the dust.

The blockchain will allow for greater transparency, security and innovation in the financial industry. The race to become a part of this rapidly developing technology has begun, and other countries would be wise to get involved while they still can.

One platform is dedicated to helping not countries, but individuals get involved with cryptocurrency. Etherecash is developing a forward-thinking Ethereum-based platform that will allow users to buy, lend and sell using multiple cryptocurrencies, giving the power back to the people.

Become involved in the future of buying and selling. Invest in Etherecash by buying their tokens here.

It isn’t too late to be a part of the blockchain revolution - but it may very well soon be.

<b>Purchase our Etherecash token through our ICO from October 25th 2017. Developed on the ERC20 blockchain technology with lawyer backed contracts, to make blockchain backed lending and fund management, private and seamless.

Buy our tokens now. Visit Etherecash.io. 

[etherecash1-blog]

Delaware and the Great Blockchain Experiment

Delaware is one of the smallest states in the U.S. and doubles as the unofficial financial headquarters of North America. It is this latter feather in its cap that has encouraged the tiny state to incorporate blockchain technology into record keeping and stock trading - a trailblazing step.

Dubbed the Delaware Blockchain Initiative, the experiment is a groundbreaking action that seeks to embrace the smart contracts of the blockchain technology. This is an area that has remained a preserve of independent teams of programmers in peer-to-peer blockchain platforms such as Etherecash.

The Initiative and the Law

The state ratified the Initiative through the Delaware General Corporation Law (DGCL), a radical amendment to Title 8 of the state’s code that governs general corporate law. This action, in essence, legitimized any blockchain-based transactions in both the civil and corporate domains.

Why Is this Initiative a Timely Action?

About two-thirds of the Fortune 500 companies are incorporated in Delaware, and almost 85% of Initial Public Offerings in the U.S. are based out of the diminutive state; most probably because of Delaware’s well-defined structure of corporate finance law. The Initiative includes a series of trials to incorporate smart contracts in settling financial and stock transactions faster.

The Initiative presents a possibility to make financial transactions flawless. At the moment, security transactions aren’t instantaneous; and the process is even disjointed because incorporation and issuance of shares are two different steps. This is time-consuming and expensive. The Delaware Blockchain Initiative believes that by using smart contracts, the two processes can happen automatically and be enjoined in the end.

The Delaware Blockchain Initiative holds the key to streamlining operations in the financial industry. Wall Street, for instance, is in need of a dire technological makeover. Financial institutions that all seem to have glitzy and up to date customer-facing applications, like the numerous now-all-so-familiar banking apps, are dying under the weight of back-office processes executed using inefficient, outdated and time-consuming systems.

The Delaware Blockchain Initiative now makes it possible for banks to manage more transactions faster and easier, and spend way less to boot.

Why Delaware and This Initiative Are So Important

Delaware is keen to maintain its position as the leading destination for companies seeking incorporation. Its body of corporate financial laws and the necessary amendment to allow corporations to use networks of electronic databases are a good testimony to this. However, the changing financial landscape requires a lot more than just Delaware’s current modern laws.

The little state took the trailblazing step because most of its customers are businesses and, it has a Corporation Law Council, which is a sitting committee of legal advisers that ensure that the laws of the state are in tandem with the innovations that influence the financial environment. Because of the natural role of blockchain technology in record keeping, the government’s most basic function, incorporating the applications of the technology to state functions was only a matter of time.

What Is the Relevance of Etherecash?

The blockchain technology allows for limitless applications that solve daily-life situations. Access to loans is essential, and peer-to-peer lending holds the power to change the micro-financial lending landscape and ease the process of procuring loans.

This is why you should participate in Etherecash’s ICO. Be in the driver’s seat when it comes to the future of lending by investing in that future today.

Purchase our Etherecash token through our ICO from October 25th 2017. Developed on the ERC20 blockchain technology with lawyer backed contracts, to make blockchain backed lending and fund management, private and seamless.

Buy our tokens now. Visit Etherecash.io.

[etherecash1-blog]

Can we Ever Solve the Minority Lending Problem?

The availability of capital has always been a bone of contention in the small business community. Of the many problems business owners face when it comes to lending, one of the most enduring is a lack of equality. There is a very large gap between capital available to white-male business owners when compared to women and minority owners.

This diversity problem has, in turn, created a culture where minorities and women fear applying for capital. And when a 2016 Biz2Credit report indicates that women business owners are likely to receive loan approvals 33% less often than their male counterparts, the fear is understandable.

Can we fix this clear inequality, or do women and minorities need to start looking elsewhere?

Dissecting the Problem

In an attempt to understand the problem and come up with solutions, the Small Business Administration conducted an initiative in 2016. At the end of the study, the SBA and other organizations that included the Library of Congress and Duke University’s Fuqua School of Business, concluded that the racial and gender makeup of boards was likely to affect race and gender investment recipients.

The study’s findings also indicated that venture capitalists are also less likely to invest in people with diverse backgrounds. Considering the following breakdown of diversity in private equity and venture capitalist firms as detailed by TechCrunch, the future for minority borrowers seems bleak.

 Only 8% of investing partners of active micro-venture firms are women

 Women make up only about 7% of partners in the top 100 firms

 87% of venture capitalists are Caucasian

 89% of these venture capitalists are male

Is the Solution to the Minority Lending Problem Diversity in Investment Boards?

It is easy to think all that needs to be done is to diversify the investment boards and the minority problem will go away. But while the SBA has made recommendations to do so, there are some glaring problems with this solution.

To begin with, the process of diversifying boards is not one that can be done overnight. It is a process that is bound to take years or decades before the investment community can get used to the idea.

Without transparency in the borrowing process, it is also likely that the minority problem will not go away by simply diversifying the boards. Lenders have to be willing to be transparent about all aspects of the borrowing process. Regulation of the industry may come into play and that may also take years to implement.

Fortunately, blockchain technology is coming to the aid of minorities by providing peer to peer cryptocurrency-backed lending.

Millennials and Eliminating Bias through Tech

Older millennials who have graduated into a struggling job market could very well be the next victims of the minority lending problem. Over 54% of millennials are looking to start their own businesses and up to 10% are young people of color. Without diversity and transparency in the current lending system, these young people could well have a very hard time accessing capital.

But millennials more than any other group have been known quickly adapt to new technologies. They more than any other demographic are more likely to take advantage of the transparent and secure cryptocurrency-backed lending system offered by Etherecash. Cryptocurrency, thanks to its naturally unbiased nature, may very well end the minority lending problem.

You can take part in this revolutionary lending system by purchasing our Etherecash token through our ICO from November 15th, 2017. We use smart lawyer-backed contracts to ensure the process of lending and fund management is private and above all equal.

Purchase our Etherecash token through our ICO from October 25th 2017. Developed on the ERC20 blockchain technology with lawyer backed contracts, to make blockchain backed lending and fund management, private and seamless.

Buy our tokens now. Visit Etherecash.io.

[etherecash1-blog]

Blockchain Can Be Both the End and Savior for the Banking World

There are 45% of financial intermediaries that report economic crimes annually. The fact that the banking industry is built on a centralized platform causes a great risk for the entire financial system. This results in easy access for intermediaries, making client’s data insecure and easily alterable.

The Maturation of the Blockchain

The Blockchain technology has in the recent years grown in the digital industry.  It began as a platform for the bitcoin currency to be transacted upon. This was because it only served as a space for the bitcoin. Currently, the blockchain has grown to an ecosystem of itself proving to have a lot of potential.

With time, there has been the rise of the Ethereum blockchain, and with it, other ecosystems like Graphene have come up to utilize the blockchain. There has also been an increase in the number of industries which are using this technology, enjoying its benefits of transparency and efficient information logging.

Blockchain as the Savior for the Banking World

The banking industry is also seeking to get involved with blockchain technology. One of the main problems in the banking sector that blockchain will seek to solve is the problem of fraud.

The blockchain system offers a transparent and encrypted model which could easily curb the risk of fraud. In June this year, several banks joined the IBM to build a blockchain system. Its aim was to provide trade financing for start-up and medium-sized businesses. The blockchain will enable the banks to be more interconnected and ease the transfer of assets within seconds.

Banks will also have the opportunity to invest in cryptocurrencies. Despite the challenges of the cryptocurrencies such as lack of regulation, the industry has still grown popular.

Implications of Using the Blockchain Technology in the Banking Sector

The current financial changes may lead the world to find an alternative to the dollar. This is because global trade is now moving away from America, meaning that they also move away from the dollar. The banking system can, therefore, be swept away by the blockchain due to the numerous dangers centralized banking poses, and the benefits that blockchain offers over it.

The idea of the blockchain will help overcome current financial crises and establish a reliable and trustworthy alternative through the use of cryptocurrencies causing its popularity to rise. This will increase the investment of cryptocurrencies like Etherecash.

Become Part of the Revolution

With the current trend, there will be numerous developments of the blockchain in the banking industry. This will also include the growth of the cryptocurrencies. You can take advantage of the growth of cryptocurrencies by getting involved now.

Etherecash is selling its ERC20 tokens in its ICO which starts on the 15th of November. The tokens can be bought with Bitcoin or Ethereum. The tokens have been built on the Etherecash blockchain which has lawyer-backed contracts and offers transparency.

Purchase our Etherecash token through our ICO from October 25th 2017. Developed on the ERC20 blockchain technology with lawyer backed contracts, to make blockchain backed lending and fund management, private and seamless.

Buy our tokens now. Visit Etherecash.io.