Cryptocurrency Research Firm Messari has debunked claims of Grayscale adding over 30,000 BTC to their Bitcoin Trust since the halving. On the 5th of June, ZyCrypto reported on claims of Grayscale securing over $279 million worth of Cryptocurrencies, particularly Bitcoin from investors since the Bitcoin halving event that took place four weeks ago. However, according to new research from Messari’s Ryan Watkins, it appears that the leading Cryptocurrency investment platform has purchased way less Bitcoin than what was reported.
Grayscale has only purchased 31% of all new bitcoins mined since the halving
More precisely, the research claims that Grayscale has only bought 31% and not over 150% of all the Bitcoins mined since the halving event, this includes “in-kind” purchases.
As seen on the official Grayscale website, the “FAQ” section noted that “Existing and prospective investors may contribute coins in kind for shares of Grayscale’s single-asset Products”, thus affirming that the investment firm did not secure the earlier reported amount of funds.
While Grayscale did not affirm or debunk the claims, Messari is reporting that asides from the misinformation in investment funds for the past one month, the structure of Grayscale’s product leaves retail investors at the likelihood of misunderstanding “additional risk they’re exposing themselves to.”
Inflation of premium prices for Cryptocurrency exposure
On Grayscale’s Ethereum trust, accredited investors can access ETHE shares. These shares can be created in “kind” either with cash or Cryptocurrencies. After one year of holding, the involved investors can proceed to sell the shares to the general public on secondary markets, according to a “144 exemption rule”.
However, if and when the number of buyers exceeds the number of sellers in the market, the investors trading on the secondary market can go on to inflate the current prices of the shares to make them higher than the underlying worth of the Cryptocurrencies, which then creates a premium to the underlying value.
Because there are no new incoming shares, there are also no new Cryptocurrencies entering Grayscale’s trust. This allows for the creation of new shares by the initial investors in the primary market thereby giving these accredited investors an opportunity to benefit from the price difference in both shares.
These premiums have continued to grow in price, leading investors to believe that the ETHE premiums match the underlying value. Investors are said to be paying more than 750% premium for ETH exposure. More precisely, the investors on the secondary market are paying a sum of $2,095 for ETHE’s ETH underlying value. A graph from messari shows that the price is currently 46% more than ETH’s all time high.
These exaggerated premiums are supposedly causing investors on the secondary market to continually buy Ethereum exposure at outrageous prices, which plays a huge role in increased volatility as well as instability in premiums.
While Messari specifically terms the ongoing event as a misunderstanding amongst investors, at the time of this writing, Grayscale is yet to publicly make any statements relating to the research reports.
Top 10 Blockchain-as-a-Service (BaaS) Providers
🔥🚀 BaaS or Blockchain-as-a-Service is a paid blockchain-based cloud service that blockchain companies provide to customers. BaaS provides customers with the ability to build, host, and use their own blockchain apps, smart contracts, and any other digital services on a distributed network.
It is important to clarify that the BaaS concept is derived from the concept of SaaS (Software as a service) and works similarly to it. 👇
◆ How does BaaS work?
According to the BaaS concept, blockchain companies install, manage, and maintain, blockchain-based cloud platforms in addition to providing the tools necessary to build blockchain applications to customers in return for a fee.
◆ The future of the BaaS industry
Currently, the global revenue from blockchain services is estimated at $ 2.5 billion and by 2025 this number is expected to rise to $ 19.9 billion.
Overall, the business value of blockchain solutions will increase to more than $ 360 billion by 2026, with estimates of this number reaching $ 3 trillion by 2030.
The previous figures clearly show the future of the industry as well as explain the huge and successive investments in the blockchain business in general.
❖ Advantages of using the BaaS model
The BaaS model provides its users with many advantages, most notably high data security, efficiency, scalability, unlimited customization potential, as well as it is compatible with current cloud services.
In addition to the above, the adoption of the BaaS model reduces administrative burdens and provides better management and recruitment of resources.
Moreover, the BaaS model is easy to use and affordable, given the value it offers.
☉ BaaS vs owning a blockchain-based cloud platform
The BaaS model is a better solution for business than having a blockchain-based cloud platform in all aspects. Owning a blockchain-based cloud platform is hugely costly due to start-up costs (infrastructure, personnel, software, licensing, hardware, consulting, and more), retirement costs (decommissioning of server racks), and operational costs (monitoring, cost per transactions, bandwidth expenses).
In addition to the above, owning a blockchain model means fully assuming administrative responsibilities. 👇
🗨 While in the BaaS model, the cost is significantly lower because you only pay for the service you get. The service price in the BaaS model is subject to several factors, including the transaction rate, the maximum number of concurrent transactions, the payload size on transactions, and so on.
Also, in the BaaS model, all administrative burdens are borne by the provider.
● How to choose the right BaaS provider?
There are a number of points to consider when selecting a BaaS provider. For instance, the provider’s experience and reputation, the security of the platform, the technical support as well as the ease of use and pricing.
In addition, it must be ensured that the platform integrates with the existing operating systems and software.
🚀 It should also ensure that the platform supports smart contract integration and deployment, identity access management (IAM) system, different runtimes, and frameworks. 👇
🟥 Top 10 Blockchain-as-a-Service (BaaS) Providers
Blackwell is one of the world’s leading providers of blockchain solutions to governments, enterprises, and end-consumers. Founded in 2018 by experts who have contributed for 20 years in developing emerging technologies for some of the largest companies in the world.
Blackwell aims to assist organizations in adopting blockchain solutions by providing consulting and a cloud blockchain platform in addition to a distinct and diverse set of tools and programs.
Blackwell aims to help everyone generate profits by allowing them to build and expand blockchain tools, services, and products.
Currently, content creators rely on existing toolkits developed by Blackwell, set their own commission structures, and earn percentages as they sell and promote their tools around the world.
During the past two years, Blackwell has developed blockchain solutions for cryptocurrency businesses around the world. 👇
🔻In addition, Blackwell has vetted dozens of token contracts for some of the most popular exchanges in the world, prevented and stopped hacks saving individuals millions of dollars, built successful token-swaps tools, and analytics tools.
Blackwell’s previous work includes the names of many well-known businesses such as JPMorgan Chase Bank, Wells Fargo, Disney, GoPro, Paramount, Mattel, Universal, Lucas Arts, Suzuki, Epson, Time Warner Cable, Guitar Center, Beachbody, Marriott, Jaiyen Eco-Resort and more.
🗨 Blackwell has an impressive list of tools and applications. Notable among them are Blackwell Wallet, Pride Token, Fire Tokens, EgoCoins, Blackwell, Blackwell Book, Sheets-n-Blocks – Blockchain, Contract Tool, VoteBlock, API Miner, Smart License Creator, Blackwell Prime, Listener, Token Swapper, Blackwell Daico, Blackwell Telescope, Blackwell Spyglass, Blackwell Velvet, Blackwell KYC Form Builder, Non-Fungible Token Creator, BW, and Dumbapps.
In addition to apps and tools, Blackwell has launched a store for DApps named “Well Spring” that has 16 working apps so far.
Blackwell backed tokens are valued at over $ 80M.
🗨 Regarding the future, Blackwell is seeking to expand by investing $ 10M. The company plans to obtain it by selling 100MM tokens to investors.🔻
Amazon introduced its BAAS service called “Amazon Managed Blockchain” in 2018 through its cloud arm, Amazon Web Services (AWS). Amazon Managed Blockchain is a managed service that makes it easy to create and manage scalable blockchain networks using open source frameworks including Ethereum and Hyperledger Fabric.
Moreover, Amazon allows customers who want to manage their own network to go ahead, but it is an option that needs experience in dealing with AWS Blockchain Templates.
Amazon also enables companies to integrate their blockchain-based networks and business processes to improve IT infrastructure, business processes, human resources, financial transactions, and supply chains.
In addition to the above, Amazon provides AWS Key Management Service to secure Hyperledger Fabric’s CA (Certificate Authority) and Amazon QLDB technology to manage augmented ordering service.
🗨 The BAAS offer from Amazon is characterized by flexibility in identifying resources to suit companies’ needs.
Amazon customers’ list includes star names like Nestlé, BMW, Accenture, Sony Music Japan, and the Singapore Exchange. 👇
🚀IBM is one of the world’s most important BaaS service providers. Forbes selected it among the top 50 blockchain companies, thanks to its blockchain platform “IBM Blockchain“, which it launched in 2017.
IBM Blockchain is a fully-integrated distributed ledger technology platform that enables businesses to “’ develop, govern, and operate a blockchain ecosystem quickly and cost-effectively on a flexible, cloud-based platform by using Kubernetes.
Partnerships have been vital to IBM’s continuous BaaS expansion. it created the Trust Your Supplier platform alongside blockchain firm Chainyard and also pioneered the Contingent Labor platform in conjunction with IT People.
As well as IBM Blockchain has joined The Linux Foundation’s Hyperledger Project to evolve and improve upon earlier forms of blockchain. Instead of having a blockchain that is reliant on the exchange of cryptocurrencies with anonymous users on a public network (e.g. Bitcoin), a blockchain for business provides a licensed network, with known identities, without the need for cryptocurrencies.
👉 IBM Blockchain Platform has been used widely in industries such as food supply, media, advertising, and trade finance. 👇
🔥 Microsoft is one of the oldest BaaS service providers as it has been in the market since 2015 when it launched Azure Blockchain Service.
Microsoft aims through its BaaS service to enable users to build public, private, and consortium blockchain environments with industry-grade frameworks and bring their blockchain apps to market.
🎯Microsoft provides three products to customers: Azure Blockchain Service, Azure Blockchain Workbench, and Azure Blockchain Development Kit.
Azure is compatible with other Microsoft products such as Logic Apps and Flow, making it a great choice for organizations looking to harness blockchains such as General Electric and T-Mobile.
Microsoft Azure’s most prominent features are the support of several Blockchain frameworks, including Quorum, Corda, Hyperledger Fabric, and Ethereum. Plus, ease of deployment using Azure CLI, Azure Portal, or Visual Studio Code with the Azure Blockchain extension. Azure also supports full monitoring and logging.
🗨 The above helped Microsoft to forge important partnerships with prominent entities such as its partnerships with Ripple and BitPay. 👇
🔻 Alibaba is one of the leading blockchain solutions providers around the world. The well-known Chinese company introduced its BaaS service in 2018 through its cloud platform.
🗨 Alibaba has an active research team and has registered many patents on blockchain during the past period.
Utilizing Quorum, Hyperledger Fabric, and the Ant Blockchain, the platform integrates Alibaba Cloud’s Internet of Things (IoT) and anti-counterfeiting technologies to create blockchain solutions for product traceability.
Alibaba’s BaaS offering provides diverse solutions to meet user needs including encompasses enterprise-level BaaS services, an agile BaaS platform that supports private deployment, and specific blockchain solutions for container services. 👇
🚀 Software giant Oracle unveiled its BaaS service in 2017. The service, called “Oracle Blockchain Cloud Service”, aims to provide an enterprise-grade distributed ledger platform that can help businesses to “increase trust and provide agility in transactions across their business networks.”
Oracle enables its service users to provide permission blockchain networks for private or consortia models, enroll member organizations, and run smart contracts to update and query the ledger in addition to many other benefits.
🎯 Also, Oracle enables its service users to use its other solutions such as Oracle Supply Chain Management (SCM) Cloud, Oracle Enterprise Resource Planning (ERP) Cloud, and other Oracle cloud solutions. 👇
🔥 R3 launched its BaaS service called “Corda” to enable companies to transact directly and privately using smart contracts.
Corda is an open-source blockchain platform that works on minimizes blockchain nodes’ deployment time by a few minutes, allowing enterprises to host the Corda network in a few clicks.
👉 Interoperability, security, and privacy are the foundations of the finance-focused Corda.
Royal Dutch Airlines (KLM) recently hired Corda service to streamline financial processes and enhance settlements
Corda provides users with the following benefits: Easy cloud-based deployment and quick setup of nodes with Docker, a Built-in blockchain application firewall to provide additional security, as well as R3’s Interoperability feature that allows developers to work with more than one application at the same time.
🗨 It is worth noting that R3 has developed solutions for more than 300 clients in addition that it has partnerships with many prestigious institutions such as Barclays, Credit Suisse, Goldman Sachs, J.P. Morgan, and Royal Bank of Scotland, Bank of America and Wells Fargo, and more. 👇
🎯 SAP launched its BaaS service “Leonardo” in 2017. Through its service, SAP aims to help companies transition into the digital age through the use of distributed ledger technology.
Leonardo is a Hyperledger based service and resides in the SAP Cloud service, meaning it can be accessed from any device.
🔻 The platform provides plug-and-play blockchain solutions and allows for the easy setup and hosting of blockchain nodes.
SAP Leonardo functions as a blockchain cloud service, machine learning service, and supports the Internet of Things (IoT) in a single ecosystem.
👉 SAP Leonardo provides its users with several benefits such as cloud deployment, monitoring of blockchain data in real-time, and more. 👇
🚀 Well-known Chinese smartphone manufacturer Huawei launched its BaaS service in 2018. The service, called “BCS“, is based on Linux Foundation’s Hyperledger Fabric, a blockchain framework that allows components, such as consensus and membership services, to be plug-and-play.
With its BaaS service, Huawei aims to enable companies to develop smart contracts on top of a blockchain network for several use-case scenarios.
🔥 Huawei also works with enterprise customers to promote the deployment of blockchain solutions and applications and to build reliable, public infrastructure, and an ecosystem-based on blockchain and shared success.
🗨 According to Huawei, BCS enables enterprises to deploy blockchain technology within five minutes. It concentrates on nine application scenarios, including data assets, Internet of Things (IoT), operation, identity verification, data certification, data transactions, new energy, philanthropic donations, and inclusive finance.
Huawei has many and varied partnerships inside and outside the Chinese market, but the most prominent name remains the famous car manufacturer Honda. 👇
🔻Factom launched its BaaS service in 2017. The service, called “Factom Harmony“, aims to allow enterprises and software vendors to quickly add blockchain capabilities to any application or workflow using simple API calls.
Harmony also aims to enable users to create portable, archivable cryptographic proofs to use as trusted inputs for internal and external audits.
🚀 What sets Factom Harmony apart is that it reduces the time and resource requirements to perform audits and meet compliance objectives. ⤵
✍ Author: Husayn Hashim
Bio: Husayn Hashim works as an author and programmer. He has been writing about blockchain technology and cryptocurrencies for si years. He’s interested in programming, technology, finance, and business. He loves writing and loves to share his knowledge with others.
How Does the Future Look for Cryptocurrencies in the Financial Market?
The trading share of cryptocurrencies in the financial markets is getting bigger by the day, as professional and occasional investors redirect their funds from traditional assets to crypto coins. Billions of dollars, euros, pounds, and of other fiat currencies are used by traders, for the opening of new crypto trading positions, increasing crypto coin values, reputation, and market share. This is also one of the reasons, why new cryptocurrencies are regularly being launched. However, the supply of investment funds is not without limit, and on many occasions, it feels like a number of these new crypto coins are doomed for failure.
Today, cryptocurrency development stretches beyond its original creational limits, as even regulated institutions are investing in the creation of digital coins. These coins are generated to achieve collective wallet digitalization and consequently to gradually eliminate the need for cash. This, of course, is not something for which traders and investors care about, as their primary concern is how these assets will perform in the financial market. That being said, if a crypto asset is trusted and respected in the real world, then this will reflect on its performance in the world of finance. The problem is that for a cryptocurrency to earn the respect of the real economy, it will need to have enough time to mature.
Crypto Trading and Investment Challenges
Trading cryptocurrencies is not an easy task. There is a lot of research required, and there is a lot of work that needs to be done before opening a trading position. Experienced traders know that it is not something as fun and as easy as taking a spin on penny roulette, but those with less experience in crypto trading can end up facing heavy losses, just because they have not invested enough time to prepare for the worst-case scenario. Even though we have not seen any signs of a new cryptocurrency bubble burst for a long time, it does not mean that the threat is not there. This applies both to new cryptocurrencies as well as to those which the market categorizes as established.
Where Do We Go from There?
With a higher demand for digital monetary alternatives, it is only natural that countries, unions of nations, and Central Banks are looking towards finally regulating the crypto market. The regulation of such assets will set new standards for commerce and revolutionize the flow of money. It will, however, limit the profit potential of crypto coins, as it will no longer be possible for a cryptocurrency – whether it is new or old – to go from being worth peanuts to being worth as much as gold in a matter of hours.
👉Not being able to become rich overnight is bad news for those who dream of becoming wealthy through cryptocurrency trading, but it also comes with benefits. A regulated cryptocurrency market will discourage “dodgy trader” activity and reduce the risk of seeing toxicity forming in the crypto market. This will allow for the growth of crypto assets in a positively-charged environment, which will give them the time and stability they need to get to the same level of trust as that of traditional trading assets.
How Blockchain Can Help Your Business Grow
Ever since the introduction of Bitcoin in 2009, the world has changed the way it views fiat currencies and digital security. People were excited that they could finally transfer digital currency anywhere in the world without exaggerated banking fees or long hours.
The technology, however, proved so versatile that it has found its way into other uses as well. In 2020, there are so many businesses that use blockchain that we simply don’t have the time to enumerate them all in a single short article. But we will do our best to give you examples of ways the blockchain could potentially help you.
Hackers rarely sleep. That’s one statement that Sony forgot back in 2011. While it is unclear whether they now use the blockchain or not, many other companies have started implementing it with great results.
The encryption technology that the blockchain employs requires transactions and other processes to go through multiple nodes connected to the blockchain to get approval. This way, if a hacker attempts to do something malicious, the multiple nodes will eventually realize that fraud’s at stake and stop the transaction in its tracks.
More Payment Methods
People often think that the blockchain is meant solely for cryptocurrencies. That’s not true, at least not anymore. Banks all over the world have started implementing this tech to ease transaction times and lower processing fees.
Moreover, businesses that implement blockchain can use this technology to offer their customers multiple payment methods with seemingly endless currency options. One non-banking company that has proved the efficiency of this method is BetConstruct, offering more than 400 payment methods.
Through the blockchain, you can set up a reliable network of chatbots that can help out your customers.
With the help of the blockchain, these AI bots can easily communicate with one another and learn from each other based on what users respond, how they rate their satisfaction with the chat, and how customer support agents respond to users once the chatbot sends them their way.
Hire Better Employees
Small companies often don’t have the time or necessary resources to double-check the information in a CV. But with the help of the blockchain, you won’t need any of that.
Even today, there are still a lot of people seeking a job who ungracefully lie in their resumes. The blockchain can process all the data in a resume and send you the verified information to see if it’s legitimate.
Not only does this save you time, but it also means you’ll have hired the right person for your future projects. And we all know what having the right person can mean if you want your company to be successful.
Improve Your Marketing Campaigns
You’re probably aware of the usual marketing techniques like social media, video ads, billboards, SEO, SEM, and more. Look, you won’t need the blockchain to implement those tactics.
However, Blockchain can be used by marketers to keep track of client information and consumer behavior. With this data, skilled marketers can craft clever campaigns that bring greater ROI. You can also use the blockchain to track any changes made to your campaigns. If only David Ogilvy has had this tech at his disposal, who knows what he would’ve been able to craft.
👉🔥The Bottom Line
The blockchain has revolutionized businesses all around the globe the same way it has revolutionized the way people view money.
Implementing this technology for your business will net you tons of long-term benefits for an otherwise small investment considering all the things you’ll be getting.
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