Price of Crypto Asset BitGesell Is Announced on HotBit Exchange

Alexander Salazar
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Price of Crypto Asset BitGesell Is Announced on HotBit Exchange

An annual halving will ensure that BGL will achieve the maximum supply of 21 million coins in a short time. BGL’s programmed burn feature forces it to burn tokens with each transaction.

The crypto asset BitGesell is one of the most promising projects of 2020. This crypto asset comes with incentive proposals to attract the miners, investors, and participants of the network.

The inclusion of BGL’s price on the HotBit Exchange is just the latest milestone for the crypto asset. This allows for better access, through open-market trading, to experiencing what it means to own digital gold.

BGL Shortage as its True Business

BitGesell lead developer Emma Wu describes how BGL has addressed each of Bitcoin’s shortcomings. She assures that it is specially designed to adapt to the digital gold premise of maintaining and increasing its long-term value.

With BGL’s programmed burn feature, 90% of every transaction fee sent to miners will be irretrievably destroyed. This is not just a promise to repurchase and burn tokens, like with most projects, relying on centralized decisions to burn tokens. This is a hard-coded programming that forces BGL to burn tokens with every transaction.

Crypto asset burning is a proven token economy model that uses basic supply and demand principles. In this economic model, when supply decreases and demand remains stable, the equilibrium price will increase. Essentially, every transaction with BGL increases the shortage of currency, which increases its equilibrium price and value in terms of US dollars.

BitGesell Supply Parameters

Since the crypto asset BGL is built from the Bitcoin source code, there will also only be a maximum possible amount of 21 million BGL. However, given that Bitcoin has technical shortcomings like reductions by half once every four years and low transaction fees, its scarcity factor will thrive for decades.

Deflationary pressure is faster with BGL due to the burning of tokens, shorter halving times, and smaller blocks. This will cause the maximum supply of 21 million BGL to be mined in a few years, after which the maximum supply can only drop with the burning of transactions.

BGL has smaller block sizes (10% of Bitcoin’s block size), combined with higher fees per transaction. These two factors ensure that miners are well compensated and that only large transactions take place, promoting retention and limited supply.

There is an increase in scarcity measures through the burning of tokens. Ninety percent of all the fees per transaction in BGL will be permanently destroyed, ensuring that even more of the fixed supply is removed with each transaction.

There is a community wallet specified in the extracted BitGesell genesis block. This wallet will receive funds to be distributed for further growth of the project, which will be posted as a message: “Your support helps the ecosystem continue to grow.”

The community will be able to view the balance and transactions of this wallet publicly on the blockchain and receive regular information on the use of its funds. This is BGL’s declaration of commitment to build and expand its infrastructure.

Accelerated Issuance

It has an annual reduction by half to achieve a maximum supply of 21 million coins and zero issuance like BTC but in a fraction of the time.

Current Bitcoin holders will never live to see the day when Bitcoin achieves zero issuance and meets its digital gold label. However, the holders of the crypto asset BitGesell only need to wait a few years to see this cryptocurrency the way that their economic model described it.

By Alexander Salazar

The Pentagon Created a War Game that Rewards with BTC

Maria Rodríguez
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The Pentagon Created a War Game that Rewards with BTC

The game has similarities to the events happening in the United States of America today, in real life.

Local American media recently reported that the Pentagon created a war game that rewards its users with bitcoins (BTC). The Pentagon created this game in 2018, but the news was barely released in June 2020. The game bears a striking resemblance to current events in the world.

The name of the game is the 2018 Joint Land, Air, and Sea Strategic Special Program (JLASS). In this game, members of Generation Z (people born in the mid-90s) receive rewards in bitcoins (BTC) for their efforts in starting a rebellion called “Zbellion”.

That rebellion consists of the youth of Generation Z rebelling against the Government and stealing funds from the corporations to try to convert that money into bitcoins. In this way, Generation Z seeks to combat inequality in the world.

This game imagines frustrated young people launching a “Zbellion” in the United States of America in the 2020s, according to a report by The Intercept. This approach coincides with the protests that have unfolded in the United States this year, although the cause of current real events is the death of an African-American man named George Floyd due to racial discrimination.

However, the game coincided with social unrest and the year, 2020. This fact has impressed those who recently discovered the game dating from the year 2018.

About JLASS

According to local media, JLASS is a series of military exercises that members of the US war schools use to train and prepare for probable similar situations.

The Pentagon war game scenario involves Generation Z using Bitcoin to fight the system due to “a feeling of unease and insecurity.” Terrorist attacks of September 11th would have caused these feelings, the Great Recession, and the lack of opportunities.

The report on the game details that it begins with rallies and protests in the main cities of the United States and that the rebellion turns into “a global cyber campaign to expose injustice and corruption.”

Those who participate in the fictional rebellion are trained to use malware that allows them to steal money from corporations, banks, or any other institution. These people then convert the funds into bitcoins and distribute them to those who need it to combat economic inequality.

The concept of the game tries to reflect a description of the foreseeable trends in some regions of the world. For this reason, it also involves Islamist African militants and ISIS successors, something that is not currently happening in real life.

Like on the game stage, President Donald Trump said he would deploy military onto the street if state officials cannot contain protest violence, which has already spread to other countries.

Another similarity among the game and real life is that, in the current 2020s, society is moving towards the use of cryptocurrencies in response to “a feeling of unease and insecurity.” In real life, many Americans relied on buying bitcoins to safeguard their money, while companies considered using blockchain technology to protect their information and make payments faster and more securely.

In this way, current events indicate that Bitcoin can function as a store of value, regardless of the protests and even the Covid-19 pandemic.

By María Rodríguez

University in The Basque Country Offers Master’s Degree in Crypto-economics and Blockchain

Maria Rodríguez
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University in The Basque Country Offers Master’s Degree in Crypto-economics and Blockchain

The postgraduate course will last one year and will be available in October 2021.

Last June 9th, the Public University of the Basque Country (UPV / EHU) inaugurated the new master’s degree in Crypto-economy and Blockchain Technology. This master is for professionals in the areas of economics, finance, mathematics, engineering, and other related careers.

According to the announcement about the launch, the higher education program will be available from October 2021. The UPV / EHU Faculty of Science and Technology will be in charge of the course. Until now, the postgraduate course will be in person, from Monday to Friday, from 03:00 pm to 07:00 pm.

Other details of the master’s degree indicate that participating students will have, from the European Union, about 60 university credits. Although people in the Basque Country learn very fast, the postgraduate course will be in Spanish and will last one year to obtain the degree.

According to the university’s comments, the master’s degree is necessary for the professionals of the future, since the growth of blockchain technology has reached high levels in recent years. Hence, it is necessary to train young people to occupy positions within the blockchain industry.

The UPV / EHU exposes in its publication that companies increasingly involve these technologies in their financial and industrial processes; therefore, it is the responsibility of educational institutions to prepare professionals for the future. “Blockchain technology is one of the technologies that currently attract the most attention. Proof of this is that the labor market is increasingly demanding more experts in this technology.”

Besides, it adds: “The implementation of Blockchain technologies in industrial, financial, human resources, legal processes, etc. Today offers great advantages. For this reason, the demand for trained professionals to respond to this need for technological innovation is increasing.”

The opinions of the university’s board are following certain studies that point to the growth of the industry in the coming years. Ametic made a report where they estimate that only during this year 2020 the blockchain industry will receive an investment of at least 100 million dollars and forecasts growth in the coming years.

The Basque university also points out that, according to some records, the number of vacancies for jobs related to blockchain technology has tripled. It is for this reason that the student pursuing a master’s degree will obtain the necessary skills to occupy these new jobs.

According to the study curriculum, the master’s degree will have detailed information in areas such as cryptocurrencies, bitcoin, monetary policies, programming, non-monetary applications of blockchain technology, among other topics. In this way, the graduate seeks to be as complete and adapted to current new technologies.

The university expects that the reception by professionals interested in the area will be quite good, since, according to some studies conducted in Spain, the interest in these technologies has doubled from 2018 to date. Thus, they consider that the postgraduate will have a good enrollment.

By María Rodríguez

Conference of Rectors of Spanish Universities Published a Report on Blockchain

Maria Rodríguez
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Conference of Rectors of Spanish Universities Published a Report on Blockchain

The document analyzes blockchain technology and its possible adoption in the Spanish University System. The report also shows examples of use cases.

Recently, the Conference of Rectors of Spanish Universities (CRUE) published “Blockchain at the University”, the fifth edition of its ICT 360º report (Information and Communications Technology), dedicated to the emerging technology of distributed registers or blockchain.

Spanish local media reported this information. This news highlights that, despite that the Covid-19 outbreak and the quarantine time paralyzed different processes and sectors around the world, that same crisis accelerated digitization processes and the adoption of new technologies such as blockchain, as a payment method.

In the case of Spain, the Covid-19 outbreak generated a strong impact. All Spanish universities had to close their doors and offer an online service so that students could continue with their activities. All this change occurred in just 72 hours.

Thanks to the fact that many Spanish universities already had new educational technologies, these institutions have been able to guarantee the quality of distance learning, offered in a complex stage during and after the pandemic.

About the Blockchain Report

The objective of this report developed by the Conference of Rectors of Spanish Universities is to analyze the strategic situation of blockchain technology and its possible adoption in the Spanish University System. On the other hand, this report shows and explains the use-cases of Distributed Ledger Technology (DLT).

Among other details, local media pointed out that the analysis consists of eight chapters signed by nine authors. Some professionals that participated in the report are Andrés J. Prado, from the University of Castilla La Mancha; Antonio Tenorio, from Decentralized Science; Ricardo Martínez, from the University of Valencia; Diego R. López, from Telefónica I + D; Lluís Alfons Ariño, from the Universitat Rovira i Virgili; Jesús Ruiz, from Alastria; José Luis Hernández and Francisco Cruz, both from the Carlos III University of Madrid; and Carlos Castro-Iragorri, from the Universidad del Rosario, Colombia.

One of the universities that have stood out for the use of this technology is the Carlos III University of Madrid, which since its early years has sought to support teaching activities using new technologies.

For almost four years, this university has been interested in the use of blockchain technology. In 2016, the UC3M Computing and Communications Service was following initiatives to use blockchain technology within the field of education. Now, this university is one of the institutions that would consider using this technology.

Blockchain Technology Benefits

According to José Luis Hernández Fernández and Francisco Cruz Argudo, both professionals at UC3M, blockchain technology can help promote various certifications. These professionals say that blockchain technology offers many advantages. One of the most important benefits is that it prevents the falsification of information.

Employing blockchain technology reinforces not only academic management but also benefits the protection of intellectual property. Juan Gómez Ortega, president of Crue TIC and rector of the University of Jaén, comments that this technology can serve as a new way of issuing, verifying, and validating university credentials. In this way, it could replace the traditional academic diploma.

More and more universities are studying how to incorporate blockchain technology into their study programs, as a platform for storing information, or as a technology for the secure issuance of unalterable academic degrees.

By María Rodríguez

Unemployed Young People in Brazil May Participate in a Course On Blockchain

Maria Rodríguez
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Unemployed Young People in Brazil May Participate in a Course On Blockchain

The National Congress of Brazil suggested the proposal to benefit young people and take advantage of blockchain technology.

The National Congress of Brazil has promoted a series of courses aimed at young people without jobs. The initiative seeks to train the younger population for the future. According to the information that the entity shared, the name of the project is “Legislative Chamber – Shaping the Future”. This program has educational programs for various areas, among which the development of blockchain technology stands out.

According to the local news portal, Pelo Mundo DF, the program seeks to bring together young people with limited resources, public school students, and unemployed people who aspire to better job opportunities for the future.

The review stated that the institution officially launched the program on June 4th. Besides, the institution emphasizes that the objective of the program is to train young people who can perform work in different sectors of the economy as soon as possible. The National Congress of Brazil hopes that participants will be able to diversify their employment options in the future and that there will be personnel prepared to occupy defined positions, related to new technologies.

Students Will Receive the Educational Program in Blocks

Regarding some details about the educational program that The National Congress of Brazil has prepared, local media informed that the program will consist of two blocks. The first block is about Qualification and the second one is about Initiation and Improvement.

According to the program data, the first block of Qualification will have courses ranging from Graphic Designer for web products and Administrative Assistant to Controller and Production Programmer, among others. This block will have hourly loads that vary between 160 and 240 hours.

On the other hand, the second block of Initiation and Improvement will have an hourly load of between 20 and 40 hours. This second block will have courses more emphatic to new technologies, such as Mobile Programming for the Internet of Things (IoT), Blockchain development, Artificial Intelligence (AI), and Collaborative Robotics.

The aforementioned courses will function, in most cases, in a distance learning modality. According to project representatives, some collaborators will provide students with an ideal space for study. Only in very specific cases, students will go to the classroom.

Although the institution has not detailed further on what students will learn in each course, The National Congress of Brazil highlighted that it hopes to start the registration period in mid-July.

Regarding the birth of this project, local media detailed that Deputy Rafael Germano Delmasso, Representative of the Republican Party of Brazil, is the author of the idea and requested support from other legislators.

The Deputy mentioned that this project is of vital importance since it creates the conditions for the current educational system to maintain continuity, despite the difficult conditions the country is going through due to the Covid-19 outbreak that has forced citizens to maintain a mandatory quarantine.

“We need to find practical solutions so that people can be trained with all possible health security. This program is a way for the CLDF to contribute to the professional initiation of young people, mainly in this period of the pandemic,” the Deputy commented.

By María Rodríguez

Russia Will Implement Blockchain ​​Technology in its Electoral System

Maria Rodríguez
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Russia Will Implement Blockchain ​​Technology in its Electoral System

The country will use a blockchain-based electronic voting platform in the election for the constitutional reform that will take place between June 25th and 30th.

Russia is preparing its next national elections, where citizens will decide whether or not to approve the new amendment to the Constitution. Due to the recent social distancing measures to counter the Covid-19 outbreak, the electoral body announced that it will use an electronic voting system based on blockchain technology since this platform would help keep the data safe and avoid physical contact.

The name of the new voting system is e-voting. The country will use this platform for the first time in the constitutional reform that could extend the presidential term to 12 years, according to local media reports.

The government agency in charge of the system released a statement last Friday 6th. In the statement, the agency reported that the system will follow the traditional voting laws, so that all young people over 18 years old may vote for or against the amendment.

This statement also explains that the new method will test all the capabilities of blockchain technology to provide a more transparent and reliable electoral system.

About the Elections

The new constitutional reform in Russia proposes, in the first instance, the extension of the presidential term to 12 years. This is something that would make current President, Vladimir Putin, govern the country until 2036, according to some estimates. Besides, the amendment hopes to address issues such as public health and the minimum monthly income for workers in the public and private sectors.

The government announcement contains a user manual that explains how will run the electronic voting process. At the same time, the government specified the importance of this advance and how innovative it is to implement blockchain in elections.

Part of the statement details the operation of the network that will support electronic voting, mentioning how the system will allow voting to be secure. “Blockchain technology will guarantee the security and transparency of electronic voting. This network does not have a single server. For that reason, to change the bulletin information it is necessary to obtain approval from the majority of the participants in the network, making it almost impossible to violate the blockchain. The voice itself is anonymized and encrypted”.

To conclude, the Russian government recalled that people who have recently reached the age to participate in the process will be able to formalize the registration until next June 21st. The elections will take place between June 25th and 30th.

Russia has been conducting important experiments and tests to use blockchain technology in election processes. A local media reviewed an example of this in mid-May 2019 when the country used an electronic voting process to select representatives of the Student Councils in Moscow.

Although the Russian government implements blockchain-based solutions, it still maintains a hostile stance with the use of cryptocurrencies. Recently, the Russian press reported that the government was preparing a new package of sanctions aimed at people who trade using these digital assets. Sanctions range from fines to jail terms for those who use digital currencies in the country.

By María Rodríguez

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