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October 2012

What Does the Bitmain IPO Abolition Mean for Cryptocurrency Industry?

by
Bitmain

Bitmain

Bitmain Technologies has abandoned its IPO enthusiasm after the company’s Hong Kong stock market proposal listing expired earlier this week, sparking debate on the future of the entire cryptocurrency market.

The company did say that it plans to reapply at an appropriate time in the future, saying that “despite the huge potential of the cryptocurrency and blockchain industry, it remains a relatively young industry which is proving its value.”

Bitmain IPO Abandonment

The bitcoin mining giant attracted $700 million from investors in Asia leading up to its much-anticipated initial public offering, which has spurred rumors that investors will be filing a class-action lawsuit against the company. Whether or not this lawsuit will come to fruition remains to be seen.

This morning Bitmain announced that its next-generation Antminer S17 series would be going on sale globally on April 9th. This more powerful bitcoin miner is expected to maximize mining profitability by significantly increasing hashrate and increasing energy efficiency by 28% compared to the previous model.

What Does Bitmain’s Hesitance Say About the Crypto Space?

As mentioned, Bitmain has shied away from its public listing because the cryptocurrency and blockchain industry is relatively young. Of course, the volatility of the cryptocurrency market isn’t a secret, with crypto prices dropping significantly.

Still, the decision not to follow through may be more related to Bitmain’s own profitability. Despite bringing in more than $700 million in profit in the first half of 2018, the company reported a net loss of $500 million in Q3 2018 and reportedly spent $500 million on failed chips in the last 18 months.

>> Weiss Cryptocurrency Ratings Places XRP, EOS, BTC, and BNB on Top

The Hong Kong Exchange has stated in the past that it is reluctant to approve IPOs from Chinese bitcoin mining equipment manufacturers due to the volatility in the industry and uncertainties regarding how sustainable their profits are.

Add that to Bitmain’s poor sales, technical issues with failed chips, and the declining crypto price, and it seems that it may have not been the company’s choice to let its application lapse. It will be interesting to see if the company moves forward with another application in the future.

What do you think of Bitmain’s decision to let its IPO expire?

Featured Image: Pixabay

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Altcoins Recovering | Ethereum (ETH) & Ripple (XRP) Lead Crypto Higher

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altcoins

altcoins

Cryptocurrencies are trying to bounce back after a steep pullback from one-year highs. Bitcoin (BTC) is trying to bounce back after coming under immense pressure after rallying to highs of $13,000. Altcoins Ethereum (ETH) and Ripple (XRP) are also showing signs of bottoming out.

Cryptocurrency Analysis

Despite rallying by 2.6%, Bitcoin finds itself below the $10,000 psychological level. Below the mark, the flagship crypto remains susceptible to further drops given the short-term bearish momentum. While there were expectations that Bitcoin would skyrocket during the American Independence day, that never happened.

Ether, on the other hand, is trying to register steady gains after falling by more than $200 in one hour on July 14, 2019. An 8.3% rally has seen the altcoin find support above the $200 mark. After seven days of declines, Ripple might as well have hit bottom and is due for a correction higher. A 9% rally represents one of the biggest gains among the major cryptocurrencies at a time of growing concerns in the sector.

Cryptocurrency Uncertainty

Cryptocurrencies have come under pressure in recent trading sessions amidst regulatory concerns. Analysts have raised the red flag that governments and regulators may as well be planning to kill cryptocurrencies.

The decentralization aspect, which makes it impossible to track crypto transactions, is reportedly not going well with authorities. Banks are always in control of the circulation of money in the financial sector. However, with the increased use of cryptocurrencies, regulators will no longer be in control of how money moves in an economy.

>> Bitcoin Price Experiences Second Largest 24-Hour Drop of 2019

The fact that cryptocurrencies are poised to shape people’s livelihood and disrupt the status quo is something that is not boarding well with authorities. India and China have already cracked the whip on closing down all the channels for cryptocurrency and altcoin liquidity.

The US government has taken a keen interest in Libra, the newly launched Facebook (NASDAQ:FB) cryptocurrency. The move follows the creation of a task force to look into digital currency fraud, which the government insists is a threat to national security.

At the time of writing, Ethereum is trading higher by 7% at $211, and Ripple is up 6% at $0.319.

Featured image: DepositPhotos © sinenkiy

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Movement Toward a Cashless Economy Set to Take a Big Leap Forward With Introduction of uBuck Pay!

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LiteLink Technologies Inc. (CSE:LLT) (OTC:LLNKF) Has Created Quite Possibly the Fastest, Most Secure & Most Cost-Effective Digital Payment Platform EVER!

As the use of digital wallets and electronic payment methods continues to soar, LiteLink Technologies Inc. (CSE:LLT) (OTC:LLNKF) is debuting a P2P payment platform that is being deemed as the first serious threat to traditional banking options for money transfer and payments.


First Mover Fintech Company
Litelink Technologies Inc.’s uBUCK Platform Displacing Banks
Get Their Latest Press Releases Delivered To Your Inbox


Up until now, no platform has been able to combine the right amounts of speed, security and cost-effectiveness to mount a real challenge to traditional banks.

But LiteLink Technologies Inc.’s (CSE:LLT) (OTC:LLNKF) uBuck platform is widely considered to be way ahead of its competitors in terms of speed, cost-efficiency, and soon availability.

uBUCK is the world’s ONLY stable digital token that is backed dollar-for-dollar by the US dollar when it comes to PIN Voucher sales. This completely eliminates the typical volatility concerns that come with most digital currencies.

uBUCK can be instantly converted into US dollars, unlike traditional exchanges or money transfer businesses and comes with access to traditional payment methods through the proprietary uBUCK MasterCard, which is connected to the uBUCK Pay digital wallet —allowing users to pay bills, and withdraw money from ATMs wherever MasterCard is accepted around the globe.

Perhaps the most important factor during this cryptocurrency rally for uBUCK is that this Stable Token gives users the ability to instantly cash out their bitcoin, ethereum and other cryptocurrencies.

uBUCK is a perfect vehicle for the crowds of people that will be looking to cash their bitcoin into cash right away, rather than selling on an exchange, which can be costly and time consuming.

Among the crowds of people with cryptocurrency to cash out are Esports gamers. Through a strategic partnership with LiteLink Technologies Inc.’s (CSE:LLT) (OTC:LLNKF) (the largest publicly traded video game media and Esports company in North America with 150 million monthly unique users), Esports enthusiasts will have access to uBUCK’s leading digital wallet and payments platform, as a commission-free and highly secure compared to traditional payment methods.

Now with three major partnership deals in place for both physical purchases, a loyalty rewards platform already with millions of users, and one of the largest esports gaming communities in the world, uBUCK is primed to capture a major market share in a very short amount of time.

But Wait, There’s More … uBuck is Also Targeting the Massive-Sized “Underbanked” and “Unbanked” Markets!

While the use of digital wallets and electronic payments has been exponentially on the rise around the world there has still remained a large segment of people who use mobile banking services very little or not at all – these are the “underbanked” and “unbanked.”

LiteLink Technologies Inc.’s (CSE:LLT) (OTC:LLNKF) uBuck platform aims to give these markets fast, easy access to free transfers.


First Mover Fintech Company
Litelink Technologies Inc.’s uBUCK Platform Displacing Banks
Get Their Latest Press Releases Delivered To Your Inbox


Let’s take a closer look at what is going on around the world.

First, we can see that society is quickly moving toward a cashless economy through statistics like these:

In China, 583.4 million people[1] are already using mobile payment transactions.

Leading P2P digital payment company Venmo is expected to have 22.9 million US users by year’s end and Zelle is expected to have 27.4 million.

Now at the same time that mobile payments are becoming more common, there are still hundreds of millions of people around the world who are not using mobile banking to send money and pay bills (the “underbanked” and “unbanked”).  In the US, this represents 25.2% of the population.  That’s a staggering 32.6 million out of 129.3 million households!

According to a study by PYMNTS.com, “More than two in five of these underbanked households already use mobile banking to access their accounts. But only a quarter use a bank’s mobile website or mobile app to pay bills, and only about one in eight use a bank’s mobile website or mobile app to send money to other people. Using mobile bill pay or mobile person-to-person payments instead of cash or non-bank money orders increases safety and convenience, deepens the connection between households and their banks, and increases the opportunity for households to derive value from the banking relationship,” the study explained.

Now with the groundbreaking speed, security and cost-effectiveness of uBuck, the underbanked and unbanked will have even more incentive to embrace mobile payments.

Tested for international markets and easy, secure, and FREE transfers, uBUCK is truly offering a unique and appealing user experience that could potentially explode very soon.

The month of May 2019 has already seen the company attract two major deals that potentially gives the platform access to millions of new users, 2019 could be a very lucrative year for uBUCK and its developers, LiteLink Technologies Inc. (CSE:LLT) (OTC:LLNKF).

Positioned to QUICKLY Capture the UnBanked & UnderBanked Market

Digital payments is a BIG business.  With approximately 27.4 million users, Zelle processed over $199 Billion worth of payments, but these giants (see table below) do not serve the unbanked population.  The lower income sector must rely on companies like Western Union to transfer funds to friends and family around the globe with and pay ridiculously high transfer fees with slow processing times.

* raised $30 million in 2014
** raised $2 billion
Statistics as of May 17, 2019

Recently, uBUCK announced a strategic partnership with US prepaid platform, PreWay. Prior to the deal, all uBUCK users had to purchase vouchers digitally within the app. Now, through this agreement with PreWay, uBUCK gains access to over 7,000 convenience stores across the United States, where users can physically buy vouchers and redeem them to uBUCK in the app via a PIN number.

This new option is a revolutionary game changer for uBUCK—officially opening up the “unbanked” and “underbanked” in the United States to use the platform as a bank account and/or credit card with one simple purchase. 

Should this step be repeatable in other international markets, the potential for welcoming in the underbanked could be enormous.  Around the world, the proportion of the public unbanked or underbanked—lacking bank account—is surprisingly high.

According to World Bank[1], this population is globally significant (approximately 1.7 billion people).

Remittance transfer alone from the US to Mexico hit a record high of more than US $33 billion sent in 2018[2]—to a country with an estimated 42 million lacking bank accounts[3].

India is both the second-largest population in the world, and the second largest unbanked population in the world[4]. However, it is the largest receiving country in terms of remittances, having received over US$78.6 billion in 2018.[5]

By catering to this incredibly large base of unbanked populations, and to their generous transfer senders, the uBUCK option provides significant revenue potential for LiteLink Technologies Inc. (CSE:LLT) (OTC:LLNKF).

UBUCK INKS LOYALTY REWARDS PARTNER TO GAIN ACCESS TO MILLIONS OF USERS IMMEDIATELY

Almost immediately after the PreWay announcement, uBUCK announced an LOI with leading customer loyalty and data management company Datable Technology Corp. Under the terms of deal, uBUCK will integrate Datable’s loyalty and rewards program, PLATFORM3 into its digital payments platform, allowing uBUCK Pay account holders to earn rewards for purchases and payments made within the uBUCK Pay digital wallet or on their uBUCK Mastercard.

In turn, Datable will also be integrating uBUCK as a cash card Prepaid Credit Card offering within their client’s portals giving uBUCK access to millions of potential users.

Together, each party will be sharing their customers, which is a significant addition for uBUCK because of Datable’s relationships with major brands that include Universal, General Mills, and Unilever.

“We believe that Datable is the #1 Rewards platform on the market.  They continue to sign up well-known brands and we’re excited to be a part of their cash card offerings,” says James Youn, CEO of uBUCK. Mr. Youn also commented, “The uBUCK Pay platform will see immediate growth.  Datable’s referrals will allow uBUCK to potentially gain access to millions of new users.”

“Datable provides consumers of Fortune 500 brands with access to over 300 digital gift cards from leading retailers including Starbucks, Walmart, and Target. The partnership with uBUCK provides Datable with a unique and flexible cash card offering that our brand customers are looking to provide to consumers as rewards for engagement,” says Robert Craig, CEO of Datable Technology.

There are even more reasons that uBUCK from LiteLink Technologies Inc. (CSE:LLT) (OTC:LLNKF) is set to potentially disrupt the entire digital payments and e-wallets sector, through its unique fast, secure, and accessible platform.

No Other Digital Platform is Backed by the US Dollar

Uniquely positioned from its competitors, the uBUCK Platform from LiteLink Technologies Inc. (CSE:LLT) (OTC:LLNKF) provides a stable digital token, backed by the US dollar with PIN voucher sales—no other group can say this.

The utility token (or uBUCK) is backed with, and instantly convertible to the USD, making the currency absolutely stable. This factor alone significantly raises uBUCK’s credibility and avoids perhaps the biggest pitfall in cryptocurrency today—volatility and difficulty converting to Fiat.

Other attempts at stable digital currencies have fluctuated close to the value of the US dollar, but until now none have truly been redeemed for exactly $1 for $1 in value.

The uBUCK utilizes the 2018 record-breaking blockchain platform Waves[6]. There is currently no faster blockchain in existence.

Speed, accuracy, and cost-effectiveness allow uBUCK to be one of the most stable cryptocurrency options in existence.

Unlike other digital currencies, the uBUCK doesn’t involve an exchange. Cryptocurrencies are notoriously difficult to trade since they require a tedious and sometimes costly exchange process. With uBUCK, the user can simply do a free token transfer.

Users can purchase uBUCK vouchers with either cash, credit, bitcoin or ethereum, which can then be converted back to uBUCK tokens. Each uBUCK token has US$1 deposited in trust that it’s attached to. These uBUCK tokens can then be transferred to other users or withdrawn using uBUCK’s mastercards at NO COST TO THE USER.

The utility token-based wallet has all the advantages of a cryptocurrency with NONE of the disadvantages.

With international transfer fees becoming quite expensive, the free and secure transfer option given by uBUCK could very quickly incur rapid adoption. Users can withdraw fiat currency without a hassle, using the uBUCK MasterCard at any ATM.

 uBUCK has the potential to financially enfranchise hundreds of millions who are currently left unserved or underserved by banking options. Usable for FREE transfers around the world, uBUCK tokens allow for users to use proprietary debit cards to withdraw cash and pay bills.


First Mover Fintech Company
Litelink Technologies Inc.’s uBUCK Platform Displacing Banks
Get Their Latest Press Releases Delivered To Your Inbox


TODAY as the cryptocurrency market continues to climb, uBUCK gives users and holders of bitcoin and ethereum a safe, easy, and instant method to cash out their crypto into fiat currencies. This alone offers a major upgrade over the current method of cashing out, involving selling on exchanges, and waiting for payouts.

“It has the potential to really disrupt traditional banking when it comes to global money transfer options, and simultaneously empower the vulnerable global population usually ignored by traditional banking options”

Transfers with uBUCK Pay are FREE and SECURE

uBUCK from developers LiteLink Technologies Inc. (CSE:LLT) (OTC:LLNKF) is advantaged by its FREE and SECURE transfers. In comparison, the two largest international transferring houses (Western Union and PayPal) have very high fees.

To transfer uBUCK tokens is not only free, but instantaneous—no matter the distance. Whereas for a receiver of funds through Western Union or PayPal, transfers can take hours to days for funds to be released.

Not all free transfers are secure, either, as two of the major transfer platforms have gained notoriety for scams and hacks. Problems continue to arise for popular platforms, such as Zelle[7]and Venmo[8].

Due to its decentralized architecture, and a distributed ledger (using world record fastest blockchain platform, Waves), uBUCK is nearly impossible to hack. In order to hack the system, the malevolent party would have to hack each and every device (“node”) that contains the ledger.

The uBUCK Pay platform offers multi-factor authentication, biometric and device verification, SSL encryption and MasterCard SecureCode. The system ensures that no one but the user has access to the wallet, even with the user’s device and one of the user’s passwords.

 This arrangement ensures the highest level of security of its kind, unparalleled in other banking options in the market—both traditional and e-wallets.

Once customers become aware of this option that’s among the safest available, this could be a tipping point for users of other services to switch to uBUCK.

In the gaming world, esports enthusiasts are now able to use the uBUCK digital wallet and payments platform, under the moniker “Streambucks”, which is specific to the esports industry. As part of the sponsorship, uBUCK will facilitate the transfer of the prize funds to the winners of the tournament.

Through this connection, uBUCK’s userbase will be infused with access to the Enthusiast’s publisher network that currently reaches over 150 million monthly visitors across 85 gaming related websites, with an additional 50 million monthly visitors from 900 gaming YouTube channels.

The Streambucks app gives users the ability to purchase products with a debit card, transfer payments, and make donations to their favourite streamers and gamers.

“This partnership with Enthusiast Gaming will give uBUCK access to a large and targeted esports audience, making this the perfect opportunity to market our newly created payment solution to what we feel is an ideal demographic,“ said uBUCK CEO, James Youn. “We are confident that Streambucks will be well-received and look forward to playing a key role in the rapidly growing esports industry.”

Managed by Skilled Veterans of the Industry

 As one of its top subsidiaries, LiteLink Technologies Inc. (CSE:LLT) (OTC:LLNKF) strategically has left uBUCK in the hands of some of the best in the industry—including blockchain, advance payments, and digital currencies experts.

Here’s a quick look at some of the key figures behind the team in charge of LiteLink Technologies Inc. (CSE:LLT) (OTC:LLNKF) subsidiary, uBUCK:

Ashik Karim: Mr. Karim is the CEO of parent company LiteLink Technologies Inc. (CSE:LLT) (OTC:LLNKF).  He has over 2 decades of global technology leadership experience in the telecommunications & high tech sectors driving change on how enterprises use business technology. He has taken several software platforms through full commercial use with large clients such as TELUS, Wind Mobile, and MDA. In the second half of his career, Mr. Karim furthered his portfolio by focusing on start-ups that disrupt enterprise software & consulting companies with AI, blockchain and leading emerging technologies. With his balance of start-up and enterprise platform industry commercialization experience, Mr. Karim brings the right strategy and tactical focus to this business.

 James Youn: Leading the company as Chief Executive Officer of uBUCK, James Youn brings over 10 years of capital markets and finance experience. Youn started on the sell side with TD Asset Management and RBC Capital Markets, before moving to the buy-side where he became an expert in alternative investments. He has shared his knowledge throughout the sector, having been published in numerous periodicals, including the Institutional Investor’s “Journal of Alternative Investments”. Having acquired expert knowledge in blockchain, James Youn is not only a finance expert but a digital finance expert.

 Greg Bauer: Joining Youn is Chief Operating Officer, Greg Bauer, who has been a serial entrepreneur with over 30 years of experience building results-based businesses. Bauer recently served as CEO of Gopher, an advance payment system with over $75 million in revenue. He has also served as an Executive Director for PreWay, which brings valuable access to an outlet for uBUCK vouchers. This relationship has already yielded an LOI with PreWay for the company. Bauer is also highly knowledgable about alternative financial services, as an ongoing member of the AFPA (Alternative Financial Service Provider Association).

 Samir Bandali: Serving as an essential Strategic Advisor for uBuck, Samir Bandali brings invaluable relationships he has developed over his career. As the current Director of Strategic Partnerships for the digital clearinghouse CoinPayments, Bandali has already delivered an invaluable strategic partnership between them and uBUCK. An expert in global merchant acquisitions, and a passionate advocate for cryptocurrency since 2015, Bandali brings a wealth of experience and relationships to the team, and will perhaps most importantly aid the company’s expansion into emerging markets.

1

 

THE ONLY STABLE DIGITAL TOKEN BACKED BY THE US DOLLAR:

Unlike any other digital token available, uBUCK is strictly linked to the US Dollar and converted instantly in real-time. Built upon the current world’s fastest blockchain technology (Waves), uBUCK is able to accurately deliver dollar-for-dollar pricing on its tokens in a way that no other competitor can. This eliminates digital volatility, while also allowing users to seamlessly convert their payments in fiat currency—ie. cold, hard, cash!

2

 

CIRCUMVENTING BANKS AND ENFRANCHISING THE UNBANKABLE:

Through its instant, free, and secure abilities to transfer funds, and its innovative e-wallet technology, uBUCK has the potential to enfranchise potentially hundreds of millions of unbanked people around the world. By lubricating the remittance market of users sending money from one country to another, the platform is boosting a rapidly growing economy of people moving away from traditional banks to a future cashless society.

3

 

STRATEGIC PARTNERSHIPS FOR RAPID MARKET CAPTURE:

Through two recently announced deals, uBUCK has made two very strategic moves that could potentially result in explosive user growth. The first was a partnership with PreWay, giving uBUCK access to 7,000 convenience stores, and opening up physical purchases of vouchers and further enfranchising the unbanked. Next is the incorporation of Datable’s PLATFORM3 loyalty rewards program, immediately exposing uBUCK to potentially millions of new users. Most recently, through a partnership with Enthusiast esports gaming, uBUCK (under the name Streambucks) instantly gains access to over 100 million monthly visitors. Together, the new partnerships open uBUCK to far more markets, customers, and future partnerships.

4

 

FREE AND SECURE TRANSFERS:

In comparison to the largest money transfer services on the planet (EXPENSIVE), uBUCK is far more affordable (FREE). Transfers through the platform are instantaneous and delivered with a security standard, unlike its closest competitors. Due to its decentralized nature, uBUCK Pay is practically impossible to hack, the platform practically reduces the threat of theft and scams, as well as the transfer cost down to ZERO.

5

 

VETERAN TEAM OF DIGITAL CURRENCY AND PAYMENT EXPERTS:

Leading the way for the LiteLink Technologies Inc. (CSE:LLT) (OTC:LLNKF) subsidiary uBUCK is an experienced team of blockchain, advance payments, and digital currencies experts. Industry experts Chairman, Ashik Karim, CEO James Youn, COO Greg Bauer, and Strategic Advisor Samir Bandali lead the way with their extensive knowledge and invaluable streams of relationships developed within the industry. Already the team has established an impressive amount of crucial deals, including with PreWay and CoinPayments.



First Mover Fintech Company
Litelink Technologies Inc.’s uBUCK Platform Displacing Banks
Get Their Latest Press Releases Delivered To Your Inbox


[1]https://www.google.com/url?q=https://www.statista.com/statistics/278487/number-of-mobile-payment-users-in-china/&sa=D&ust=1557944175541000&usg=AFQjCNHIO27upgSrqNverwPo2oJg25nmrw
[2]https://globalfindex.worldbank.org/sites/globalfindex/files/chapters/2017%20Findex%20full%20report_chapter2.pdf

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Blockchain Technology Revenue Expected to Hit $10 Billion in 2023

by
blockchain technology

blockchain technology

Last year the cryptocurrency industry experienced a harsh industry-wide drop in asset prices. However, the prices have since recovered, and the blockchain technology is expected to rack billions of dollars in growth.

Blockchain Revenue to Hit $10 Billion in 2023

ABI Research conducted a study, and its findings indicated that there are big things ahead for blockchain technology. The firm has predicted that blockchain revenues will grow in the next six years. Categories that will drive blockchain revenue include industrial blockchain applications, financial services, as well as consulting services. ABI has indicated that blockchain revenues could hit $10 billion in the next few years.

Things are interesting currently for blockchain development despite the slump of initial coin offerings in 2018. Growing interest from institutional investors in blockchain technology has helped the growth. Some mainstream companies have started incorporating the underlying technology in their operations. For instance, enterprise players such as JPMorgan Chase, Amazon, and Walmart have made a move towards the adoption of blockchain.

Last year, the largest cryptocurrency asset, Bitcoin, experienced a massive price fall of over 50%. Other digital assets also experienced a similar slump. However, the price of Bitcoin has recovered this year and has regained some ground in the market. The rest of the cryptocurrencies have equally recovered, although not to the same magnitude as Bitcoin.

Blockchain Investment Shifting to Venture Capital Funding

According to ABI, the multi-billion dollar revenue expected from blockchain will profit most companies employing the technology. ABI research director, Michela Menting. indicates that there are several ways revenue is derived from blockchain. She points towards consultancy, transaction fees, and blockchain frameworks as the main methods of generating revenue.

>> Ripple’s Brad Garlinghouse Clamps Down on XRP FUD

Currently, there is a shift in trend from ICOs to venture capital funding. Venture capital funding is already taking on ICOs and has increased with 620 rounds generating $3.1 billion in 2018, up from 153 rounds in 2017 that raised $850 million. Tighter regulations and taxation on cryptocurrencies in various countries is prompting investors to adopt VC-based investments.

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