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The Global Decentralized Finance Bunker

The Global Decentralized Finance Bunker

Solanax is a new DeFi protocol built on top of the Solana network that will catapult Decentralized Finances to unprecedented performance levels.

As a decentralized and non-custodial automated pool-based liquidity mechanism supporting trades within the Solana ecosystem, Solanax is looking to revolutionize DeFi.

The Ethereum main-net proof-of-work (PoW) consensus design flaws are no longer news, as they have stifled Ethereum’s growth for a long time.

For example, Ethereum’s 15 transactions per second are far too sluggish, resulting in record-high transaction fees.

Its trustless token swaps, trading, and more significantly reorientation of the crypto world towards Solana. Solanax is destined to become a vital asset exchange community platform.

SOLANAX will remove all intermediaries, complexity, and time-consuming procedures from the equation, giving users the freedom to trade without fear of censorship or losing ownership of their assets.

In summary, Solanax has the following features:

  • Users have complete control
  • Next-level liquidity
  • Friction-less yield
  • Light-speed swaps
  • DeFi is faster, cheaper, and more powerful.

The project’s goals

Companies are always on the lookout for open source liquidity and Defi protocols that offer competitive interest rates. It is an element of their fund strategy for their clients.

Solanax strives to be the most widely used open-source liquidity and defi protocol for fund businesses, as well as a reliable and secure Ethereum-Solana and even more than three-way bridge. When new projects of this nature are announced, people are always delighted.

  • Utilize a blockchain to bring DeFi even closer to people, hence allowing it to scale even better.
  • Make financial tools more accessible to the general public.
  • Make it faster to cut cost on gas fee, hence cheaper
  • Build an interface that allows people to create a comfortable trading environment (limit orders; alerts; and more).
  • A central order book provides liquidity access across the ecosystem, so individuals are not reliant on a single source of liquidity.

Incentives for early adopters

The first beneficiary of the project is early adopters, who will be rewarded with platform incentives, with 40% of their total token supply allotted to them. The platform does not charge any fees.

Stakeholders of the $SOLD Token will get all swap trading fees (0.2 percent from the maker and 0.3 percent from the taker).

So, as expected, a large community popped up around Solanax on Sunday as soon as private sales were revealed!

Why Solana?

Solana blockchain has increasingly become the blockchain of choice for newly launched projects. As such, the company has re-evaluated its strategies and now expanding its capacity to accommodate the rising demand for faster blockchain services.

The blockchain aims to be the go-to network for decentralised applications, that’s according to sources at Solana.

Over time, it’s looking to effectively compete or even surpass the market leader, Ethereum.

Solana blockchain uses a new method of verifying transactions, proof of history (PoH), to solve the scalability and speed issues that have been problematic to its predecessors, Bitcoin and Ethereum.

Scalability is one of the most challenging aspects of blockchain technology to overcome. As these networks expand, they frequently encounter transaction speed and confirmation time constraints, which consequently leads to a high cost of transactions.

Through PoH, Solana can handle thousands of transactions per second, with significantly cheaper transaction fees. Solana attempts to achieve these by maintaining security and decentralization.

The Significance of Solana to DeFi Projects

DeFi technologies are meant to increase financial access to the increasingly capitalistic society.

These technologies will continue to improve the lives of many people on the other side of the world who previously lacked access to financial instruments that would have allowed them to compete in a capitalistic world. Investing in a future where everyone is more equal is a no-brainer.

We believe that Solana will be a significant player in the crypto space. A vast percentage of people are still unaware of the Solana blockchain. On the other hand, the team behind Solana is discreetly warping the crypto environment with new financial possibilities.

Solana has piqued our interest, and we’ve collected a group of crypto professionals from around the world to collaborate on the Solanax Project. The Bunker of Global Decentralized Finance.

SOLDonomics

Total Supply: 80 000 000 SOLD Tokens

Private Sale: Total available supply – 10,000,000 SOLD

Period: 06/06/2021 – 25/06/2021

Token price – 0.1 USD with 3months vesting period;

Token price – 0.15 USD w/o vesting period;

Initial Exchange Offering: Total available supply – 10,000,000 SOLD

Round 1: 28/06/2021 – 05/07/2021 | 0.20 USD | Available supply: 5,000,000 SOLD

Round 2: 08/07/2021 – 13/07/2021 | 0.25 USD | Available supply: 3,000,000 SOLD

Round 3: 16/07/2021 – 19/07/2021 | 0.30 USD | Available supply: 2,000,000 SOLD

Check out our website and Twitter for more information about the upcoming release, Airdrop, IEO, and Private Sale.

Users can participate in this Private Sale by emailing the team at [email protected]

https://solanax.org/

https://twitter.com/Solanaxorg

White paper: https://solanax.org/whitepaper.pdf

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Blockchain State of Affairs in Europe: Part Two

Blockchain State of Affairs in Europe: Part Two

This is part two of a three-part series of articles about the state of blockchain/distributed ledger technology (DLT) in Europe. The series covers the blockchain scene in some of the most important European nations. I would like to thank PR firm Wachsman for sharing with me the facts & figures and the commentaries present in this series. Part one may be read here.

European British overseas territory Gibraltar and the country of the Republic of Ireland both have a flourishing blockchain space. Below, we’ll be taking a look at their DLT sectors.

Gibraltar

Blockchain State of Affairs in Europe: Part Two

Europort Avenue, Gibraltar. Just across the road from Morrisons (2009). The Gibraltar Stock Exchange is located at Suite 741A
Europort, GSX11 1AA.

To regulate its blockchain sector, Gibraltar has employed a principles-based approach that is built around a core framework of nine principles. The British territory, which has almost complete internal self-governance through a parliament, also offers enough flexibility for DLT projects to succeed. The value-based, industry-informed framework of Gibraltar exemplifies vision and drive functioning autonomously, in which watchdogs and firms work together to deal with sector inefficiencies, fast-track extended processes and enhance citizens’ lives.

Main initiatives of the government of Gibraltar include the introduction of a custom-made blockchain framework in January 2018 and the formation of the New Technologies in Education (NTiE) group. With the framework’s introduction, Gibraltar became the world’s first jurisdiction to introduce such a system. The NTiE group, which signifies a team effort between the government of Gibraltar, the University of Gibraltar and some of the top new technology corporations based in the jurisdiction, is aimed at developing new technology-related education courses about DLT.

Gibraltar Minister for Commerce Hon. Albert Isola M.P. stated, “As the first jurisdiction in the world to introduce a purpose built Distributed-Ledger-Technology (DLT) framework in January 2018, Gibraltar has become home to a wide range of quality blockchain projects that want to be recognised as a licensed provider of DLT. Gibraltar’s supportive business environment and thriving blockchain community are two of the hallmarks of success for our wider economy.”

He added, “As a jurisdiction, we have always prioritised educational development alongside regulatory advances. The launch of the New Technologies in Education (NTiE) group, represents a joint effort between the Gibraltar Government, the University of Gibraltar along with some of the leading new technology companies based in Gibraltar. The NTiE group is geared towards creating new technology-related education courses around blockchain, giving students the chance to broaden their knowledge of the intricate workings of blockchain applications.”

GSX (Gibraltar Stock Exchange) Group Limited founder and managing director Nick Cowan commented, “As a long time advocate for the incorporation of new technologies in financial services, I became convinced of blockchain’s potential to build a new exchange model fit for a new generation of traders and investors. However, the creation of a stable, supportive regulatory environment was always central to this aspiration. The purpose-built legislative framework for businesses that use blockchain or Distributed-Ledger-Technology (DLT) here in Gibraltar has been pivotal in the success of our Gibraltar Blockchain Exchange (GBX), which received its DLT license from the Gibraltar Financial Services Commission (GFSC) in November 2018. Strong engagement between businesses and regulators has helped direct the formation of regulation that provides flexibility for guidelines to evolve alongside the blockchain sector. The DLT regulatory framework continues to provide a road to market for quality projects using DLT.”

Ireland

The 12.5% corporation tax of Ireland has made it an attractive place for some of the biggest tech corporations in the world, including Apple, Google, Airbnb, LinkedIn and Twitter, who all have their EMEA headquarters located in the country. As a nation with a population of just under 5 million, Ireland has shown that it is able to punch above its weight and seal its place as a worldwide technology powerhouse. The country also hosts some of the most pioneering blockchain startups including multi-award-winning AID:Tech, which revolutionizes how governments, corporates and NGOs provide digital entitlements all over the globe.

The Irish department of finance’s Mai Santamaria said, “Ireland has positioned itself as a leading destination for tech enterprise and research, and has the potential to be a centre of excellence for blockchain and distributed ledger technology. In addition to the growing number of companies using the technology here, the Government has taken several steps to encourage innovation in this sector. Some highlights include, the creation of a €500m Disruptive Technologies Innovation Fund; recently hosting a blockchain hackathon to identify public services business problems that can be solved using blockchain technology; and the founding of BlockchainIreland, a combined effort of Government and Irish-based companies, led by the IDA’s Blockchain Expert Group, to help promote and share information on blockchain in Ireland. Blockchain technologies have the potential to create great economic, social, and technological value and, where possible, Ireland aims to capitalise on this potential.”

The third & final part of this series will review the blockchain scenario in the Netherlands and Switzerland.

Image credit – Paul  (Source)  (CC BY-SA 2.0)

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How Synthesis Bank Brings the Benefits of Investment Banking to Blockchain

How Synthesis Bank Brings the Benefits of Investment Banking to Blockchain

What comes to mind when we think of investment banking? Usually, this conjures up thoughts of Wall Street brokers making billion-dollar deals and the general chaos that is the global financial market.

We also tend to think of it as an exclusive and expensive subset that most people in society do not have access to. Investment banking has generally garnered the reputation for being a sport of the rich and not the everyday man.

This means that large portions of the population are shut out from enjoying the benefits of investment banking or buying into profitable investment vehicles.

This, however, is changing with the advent of blockchain and with firms like Synthesis Bank that are bringing the benefits of investment banking to the masses.

No More Middlemen?

The problem has never been that the public has not been aware of the profitability of certain investment vehicles but rather, has not had access to them due to a number of barriers to entry which includes middlemen.

Take the buying of stocks, for example. This would often involve buying through a stockbroker who takes a commission on all trades and oftentimes, stockbrokers would require a minimum amount of investment before they would take on clients.

This means that everyday people who only wanted to invest very small amounts of money would be shut out of the market. Platforms like Synthesis Bank are combating this by leveraging smart contracts.

Smart contracts are created through blockchains and means that transactions can take place automatically without the need for a middleman.

This removal of the middleman also means that the process of investing is cheaper for consumers.

One of the reasons why consumers are drawn to traditional platforms is the sense of security that comes with middlemen. And with technology as relatively new as blockchain, there is concern about what could go wrong.

But Synthesis Bank gives customers assurance but having third parties validate all their processes. Specifically, Certik, a blockchain security firm, reviews both the bank’s blockchain and its smart contracts to make sure everything is up to par and customers are getting the best.

Institutional-Grade Investment Strategies

Besides direct access to the investment vehicles themselves, Synthesis Bank also offers certain trading strategies that in the past, were only available to big institutions.

This includes prop trading algorithms and a number of other strategies. For example, high-frequency trading options are available and usually, these would only be accessible to big investment firms which would pull together large orders for rapid execution.

Using smart contracts and blockchain-based platforms, Synthesis bank can offer this to its customers.

Then there is cross-exchange market making which is a combination of traditional marketing meeting an arbitrage in which a market made is done and one exchange while orders on another exchange are hedged.

Traditional market-making and arbitrage are also available to customers who wish to trade.

These days, it is not only singular big investment companies that can use these sorts of trading tactics and strategies but instead, users connected by the power of blockchain can do so as well.

STB Token

At the center of Synthesis Bank is its native STB token which is an ERC020 token representing a virtual stake in the bank. Those who buy into the token will receive monthly dividends which are based on the performance of the bank’s investment for that period.

50% of the profits realized via investment activities by the bank will be given back to the token holder in the form of USDT.

Another 30% will be reinvested into Synthesis Bank which, in turn, expands the assets under management and increases the price of the token.

The remaining 20% will be used for ongoing operations of Synthesis Bank as well as various administrative requirements such as legal fees and accounting.

This is an interesting development in that usually, token holding brings in an income via an appreciation in the value of their token but in this case, there will be a monthly reward for investment, and token holders will be notified via Synthesis Bank’s portfolio tracker of incoming dividends.

A pre-sale for the token will be held from July 2021 to August 2021 followed by a public sale in October 2021. There is a total token supply of 200 million STVs, 150 million of which will be available in the public sale.

Tokens will be sold until all tokens are exhausted after which no more tokens will be issued into the ecosystem.

Banking on the Blockchain

Ultimately, what synthesis bank is doing is more than just offering people the chance to buy into high-quality investment vehicles and make a monthly income.

What Synthesis Bank is doing is opening a range of products and services that the public has been shut out of for so long and letting everyone have a piece of the pie.

By eliminating middlemen and leveraging smart contracts to allow its customers to get the best results, Synthesis Bank is leading the way in investment innovation.

Over time, we can expect to see more companies follow this lead and even more capabilities of blockchain investment explored.

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Bitcoin’s 7-Day Charts Flash Green: Are Things Looking Up for BTC?

Bitcoin’s 7-Day Charts Flash Green: Are Things Looking Up for BTC?

Following a significant haircut in May, the price of Bitcoin has been meandering between $30K and $40K for the better part of a month. While some analysts are relieved at the fact that Bitcoin has not crashed through the $30K support line, and, heck, may even be building momentum to move back above $40K, others are not so sure about the future of BTC.

On the other hand, Bitcoin’s 7-day chart appears to have crossed into green territory for the first time in a great while. At press time, BTC’s 24-hour gains were sitting at roughly 2.6 per cent, while the seven-day price chart showed gains of 1.4 per cent.

Some Good News for Bitcoin

Additionally, Bitcoin has seen a bit of positive news in recent weeks that may be bolstering its price after it collapsed in May. On Wednesday, the nation of El Salvador became the first country in the world to adopt bitcoin as legal tender.

Michael Sonnenshein, the Chief Executive of Grayscale Investments, said on CNBC’s ‘ETF Edge’ earlier this week that: “As we think about nation states and central banks exploring digital currencies, we’re not surprised to see places that have historically relied on the dollar or folks who have experienced hyperinflation exploring the potential merits of digital currency.”

“We would not be surprised to see states and central banks beginning to think about adding bitcoin and other crypto to their balance sheet.”

Additionally, the conclusion of the Miami Bitcoin conference seems to have pumped a new bout of enthusiasm into the cryptocurrency industry (though positive COVID test results may be a mitigating factor).

Speaking of the event on the same episode of ‘ETF Edge’, Osprey Funds founder and CEO, Greg King said that: “It feels a lot like 2017 felt but with a broader base. It’s taking the movement forward from where it’s been over the last 12 years.”

Beyond El Salvador and Miami, a group of North American Bitcoin mining companies formally debuted The Bitcoin Mining Council on Thursday with the goal of addressing concerns about the amount of energy used in cryptocurrencies.

“The Bitcoin Mining Council is a voluntary and open forum of Bitcoin miners committed to the network and its core principles,” MicroStrategy Inc. Chief Executive Officer, Michael Saylor, who helped to form the association, wrote on Twitter, with a call to “Join us.”

What Does Bitcoin’s Stock-to-Flow Model Say?

Bitcoin’s stock-to-flow model has hit a rebound level that has not been seen since Bitcoin’s all-time high in 2017, a factor that some investors and market participants could find relieving after a month of price stagnancy.

“It’s a long time since [Bitcoin’s] price has been this far below [the stock-to-flow] line,” wrote Philip Swift, Creator of LookIntoBitcoin, on Twitter. “The Divergence oscillator at [the] bottom of the chart is highlighted by the orange dotted line and arrows to show comparable historical periods…#bitcoin price rebounded hard from such divergence previously (sic).”

A stock-to-flow measures the relationship between the currently available amount of an asset and its production rate. While this model is typically applied to commodities (i.e. precious metals), some analysts have applied it to Bitcoin: the amount of circulating BTC available is measured against the amount of new BTC that are being mined.

How Effective Is Bitcoin’s Stock-to-Flow Model?

The purpose of a stock-to-flow model is to show how much supply of an asset or resource (BTC, in this case) enters the market each year relative to the total supply. According to Binance Academy, “the higher the Stock to Flow ratio, the less new supply enters the market relative to the total supply.” And, therefore, an asset with a higher Stock to Flow ratio has higher scarcity, and should therefore retain value well over the long-term (at least, in theory).

Measuring Bitcoin’s price against stock-to-flow appears to have been originated by a pseudonymous Bitcoin institutional investor who goes by the name PlanB. While Philip Swift optimistically compared what is happening in the stock-to-flow model at this current moment with what happened in 2017, CoinTelegraph reported that even PlanB is nervous about the future of Bitcoin.

According to CoinTelegraph, this model “has been widely praised and is the leading valuation model for bitcoin proponents.” However, some analysts find the model to be fundamentally flawed.

“SF has achieved viral popularity and inspired rags-to-riches dreams for those gambling it all on the future of bitcoin,” CoinDesk reported in June of 2020. “However, we believe the model’s accuracy will likely be about as successful at forecasting bitcoin’s future price as the astrological models of the past were at predicting financial outcomes.”

2013 All Over Again?

However, if the stock-to-flow model is to be trusted, PlanB said on June 1st that while Bitcoin’s latest price movements do have some similarities with 2017, Bitcoin’s latest price movements are much more reminiscent of the year 2013.

“New dot: May close $37,341.. -35% .. we knew bitcoin would not go up in a straight line and several -35% drops are possible (and indeed likely) in a bull market,” he wrote on Twitter, adding that BTC’s movements were “Starting to look like 2013. [Stock to flow] model intact.”

However, while there are some important differences between Bitcoin’s price movement in 2013 and its movements in 2017, both years have something important in common: each of them saw a two-tiered run-up to a new all-time high. According to CoinTelegraph, “The first peak was followed by a significant drawdown in each instance, which then reversed to spawn a run to a new top.”

If history repeats itself a third time, Bitcoin’s second bull run of 2021 will take place later this year, which could lead BTC far beyond its previous all-time high of roughly $60K. In fact, PlanB believes that $100,000 is still in the cards for BTC. The stock-to-flow calls for an average price of either $100,000 or $288,000 between 2021 and 2024.

“Everybody Wanted to Buy #Bitcoin at $60,000, Nobody Wants to Buy Now.”

However, not everyone is so optimistic. Fortune reported this morning that Bookmakers at US-Bookies.com have “raised the odds that Bitcoin drops to $10,000 this year to 8-to-11—a 57.9% implied probability.”

And indeed, BTC investors seem to be fearful that Bitcoin is in for further drops down the line.

BItcoin market analyst, Michaël van de Poppe (@CryptoMichNL) wrote on Twitter that: “Everybody wanted to buy #Bitcoin at $60,000, nobody wants to buy now. Why? People are scared of red candles and expect a further dip.”

However, as BTC loses its grip, altcoins appear to be stepping up to the plate. At the beginning of 2021, BTC’s market dominance was over 70 percent. At press time, that figure had fallen below 44 percent.

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The Future of BTC? ”Until There’s Clarity, There’s Going to Be Chaos.”

The Future of BTC? ”Until There’s Clarity, There’s Going to Be Chaos.”

BTC’s price movements over the past several weeks have had many critics making doomsday claims.

However, Monica Eaton-Cardone, founder of Chargebacks 911, thinks that it may be too soon to make the call. “Let me gently paraphrase Churchill: ‘This is not the end. This is not the beginning of the end. But guess what — it’s not even the end of the beginning.”

“The crypto marketplace is going to be an epic, long-form rollercoaster ride for investors, and we’re just getting started. The steepest curves and the wildest climbs are still to come.”

“Why did the market drop? When there’s an absence of evidence–or when the evidence is unclear or incomplete–investors are forced to connect the dots on their own,” she continued. “But everyone connects the dots a little differently, and these connections are greatly influenced by our personal biases.” And of course, “The crypto market is no exception.”

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Monica Eaton-Cardone, co-founder & COO of Chargebacks 911.

What’s happening?

Let’s review: the most popular narrative behind Bitcoin’s price drop points to two pieces of news that hit the crypto scene in mid-May: firstly, that Tesla would no longer be accepting Bitcoin as payment for its famous electric vehicles, and secondly, that the Chinese government would be taking further steps to crack down on crypto–specifically, that it would be barring banks and payment companies from working with crypto platforms.

Analysts have also pointed out that both of these events seem to have triggered a “domino effect” of cascading liquidations. More than $12 billion in leveraged positions spread across over 800,000 accounts was liquidated in the price crash that followed the news of China’s crackdown and Tesla’s step back from BTC payments.

After days of death drops, the price of BTC finally seemed to stabilize between $34K-$38K from May 24th to June 7th. However, Bitcoin took another hit on Monday night, suddenly dropping 9 percent to $31,295.

Since then, BTC has recovered once again to $34K. Still, the drop has analysts wondering: could BTC retest $30K? If so, what would happen next? And what caused the drop in the first place?

Is the perception of BTC shifting?

Harriet Chan, the co-founder of software development firm CocoFinder, told Finance Magnates that “The ‘sudden’ drop in the value of BTC is actually a ripple effect of the criticism it has been getting in recent times about how green and sustainable it is.”

“Before, BTC was [seen as] a safe haven for many that wanted an alternative store of value for their money,” Harriet said. However, “it is now coming under strict criticism, especially over concerns about power consumption and its link to various criminal activities.”

Harriet also pointed to another hit to Bitcoin’s public image–”it is the subject of a ransomware demand in the US,” she said, increasingly the power of the narrative that Bitcoin is “linked to crime and terrorism.” On June 8th, Reuters reported that Colonial Pipeline paid $5 million to regain access to hacked systems that were causing massive shortages at gas stations on the eastern coast of the United States.

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Harriet Chan, co-founder of software development firm CocoFinder.

“BTC dropping below $30k is not as far-fetched as it used to be.”

As Bitcoin continues to lose momentum under the $40K mark, “BTC dropping below $30k is not as far-fetched as it used to be,” Harriet Chan said. “At this point, it is actually likelier than ever that it will drop below that point, and recovery might be an even more dream-like idea.”

BTC’s price could be in particularly bad shape if another negative news event breaks for the coin. “If BTC comes up in another crime scandal, its road to below $30K is as sure as done,” Harriet said, adding that “exactly how low it could go is not easy to determine.”

Doug Schwenk, Chairman of Digital Asset Research (DAR) told Finance Magnates that “more minor negative news stories could add to the pressure and given how far we are above last year’s levels, it is conceivable that below $30k happens.

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”A negative regulatory story, such as a ban on BTC from a major economy, would probably be the most damaging.”

However, Schwenk does believe that a regulatory slam could send the price of BTC hurtling toward the ground: “A negative regulatory story, such as a ban on BTC from a major economy, would probably be the most damaging cause absent a security bug or other catastrophic failure of the network.,” he said.

But is regulation likely to come for BTC anytime soon? “It’s hard to pinpoint one reason, but speculation and headlines in the news can cause massive swings in the valuation of cryptocurrency, like Bitcoin.”

Mark Henry, founder and CEO of  Alloy Wealth Management, told Finance Magnates that it’s not impossible. “Most recently, we saw the price go down after news investigators were able to recover about half of the ransom collected by hackers who attacked the Key East Coast pipeline in May. The involvement of the U.S. government shows assets can be taken back, which is causing fear of more regulations.”

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Doug Schwenk, Chairman and chief executive of Digital Assets Research (DAR).

“One of [investors’] biggest fears is about how cryptocurrency, like Bitcoin, will be regulated. Bitcoin is going to fluctuate. We could see it go well above $60k again this year, then drop and do it all over again.”

Still, he added, “Bitcoin is here to stay–be mindful that it is still up 14% from the start of the year.”

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Mark Henry, founder and CEO of Alloy Wealth Management.

”[…] We are going to see the price fluctuate.”

However, while Bitcoin may be here to stay, the events of the past month may have an important influence on the way that Bitcoin is used and perceived over the longer term.

“Currently, institutional investors that were looking to BTC as the tool to navigate the post-pandemic era are changing their opinion on that,” Cocofinder’s Harriet Chan said. “The effect of this is that other investors are also buying into the idea that BTC is very volatile and that won’t change soon.”

Mark Henry added that “The long-term investor who understands volatility and isn’t new to the investment world knows we are going to see the price fluctuate.”

“It may lose standing with the investor who doesn’t understand the markets and will panic when prices drop.”

”Until there’s clarity, there’s going to be chaos.”

In any case, the bottom line is that when it comes to Bitcoin, there are a lot of unknowns–as Monica Eaton-Cardone said, “we’re just getting started.”

“We’re still waiting to see if crypto will become an internationally accepted, ubiquitous presence, or a niche payment tool of dubious utility and/or legality,” Monica explained. “We’re still waiting for that seminal, paradigm-shattering moment when we’ll know for sure. So, in the meantime, we overanalyze and overemphasize every last bit of minutia, and that’s what’s triggering so much volatility. Until there’s clarity, there’s going to be chaos.”

“The crypto true-believers won’t be going away. They’re in it for the long haul. But until there’s long-term clarity, the crypto marketplace will continue to attract a large number of speculators who will come and go at various points.”

“Not everyone will have the stomach for the ride. This will exasperate the drops, and elevate the peaks. I can’t tell you how the crypto rollercoaster will end in 2021–but I can guarantee you, it’s going to be a helluva ride.”

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Blockchain State of Affairs in Europe: Part Three

Blockchain State of Affairs in Europe: Part Three

This is the final part of a three-part series of articles about the state of blockchain in Europe. The series covers the blockchain scene in some of the most important European nations. I would like to thank PR firm Wachsman for sharing with me the facts & figures and the commentaries present in this series. Part one may be read here and part two, here.

The Netherlands and Switzerland are the remaining two European countries whose blockchain spaces will be reviewed in this third & final part.

The Netherlands

It will not be incorrect to say that the Netherlands is on the rise on the global blockchain scene. This European nation recently hosted the Odyssey Hackathon, the biggest blockchain and AI hackathon in the world. The event was supported by the Netherlands Authority for the Financial Markets (AFM), the Ministry of the Interior and Kingdom Relations of the Netherlands, the European Union Regional Development Fund, De Nederlandsche Bank (the Dutch Central Bank), KLM and Deloitte. With 1,500 people in attendance, it saw 100 teams compete for €200,000. The Special Envoy of Startup Delta, Prince Constantijn van Oranje-Nassau, also supported the hackathon.

The Netherlands is home to 135 blockchain startups.

Switzerland

Blockchain State of Affairs in Europe: Part Three

Night view of the Swiss canton of Zug and its lake. Crypto Valley Association, an autonomous, government-backed alliance founded to leverage Switzerland’s strengths to create the world’s foremost blockchain and cryptographic ecosystem, is based in Zug.

The presence of state-of-the-art centers and knowledge hubs like Crypto Valley, which hosts 20% of the worldwide blockchain market; flexible regulatory bodies and the government’s strong encouragement have all enabled Switzerland to thrive as a leading hub for blockchain revolution. Switzerland is also the ICO capital of Europe, where firms raised $456 million in 2018, and $1.46 billion in 2017. Startups in this European nation received nearly 1.24 billion francs (almost $1.25 billion) of venture capital in 2018, about 32% more than the year before.

As for the number of DLT startups operating in Switzerland, there are 712 of them (out of 750 companies in the Crypto Valley) as of Q1 2019. Demonstrating the breadth of firms in the Swiss blockchain cluster is the startup Utopia Music, which is a new entrant into the Crypto Valley top 50 and the only media and entertainment firm to do so.

Switzerland also hosts four Unicorn startups (firms already worth billions). These startups include Dfinity, Cardano, Bitmain and Ethereum.

Crypto Valley Association president Daniel Haudenschild said, “At the heart of the blockchain movement, the Crypto Valley Association has been central to creating Switzerland’s leading position as a pioneer in cryptocurrency and blockchain. The valley is home to some of the most innovative and influential blockchain companies in the world, only made possible by the friendly regulatory environment, secure and predictable legal framework, world-class infrastructure, talent pool, sound policies and economic strength here in Switzerland.”

Armin Schmid, CEO of Swiss Crypto Tokens, part of the Bitcoin Suisse Group, stated, “At Swiss Crypto Tokens, we consider ourselves very fortunate to call Switzerland home. The Government here has always shown great encouragement of the blockchain community and this has undoubtedly been a huge part of our success in positioning Switzerland as the ‘Crypto Nation’. In addition, given how developed and influential the Swiss financial sector is — managing around 27.5% of all global cross-border assets — Switzerland is an ideal environment with a stable economy and currency for liquidity-providing instruments such as the CryptoFranc, our Swiss-Franc pegged stablecoin.”

End of Series

Image credit – Mensi  (CC BY-SA 3.0)

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