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Altcoins

AZ FundChain Offers a Compelling Alternative to Traditional Crowdfunding

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AZ FundChain
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Although many tokens have collapsed during the ongoing altcoin apocalypse, the future remains bright for applications with real world usage.  Because of the ongoing bear market and limited trading opportunities, analyzing businesses with the potential to experience real world adoption should be the priority.  Part of that analysis should include looking at industries that need improvement.  During my analysis, one area that quickly popped up is the field of traditional crowdfunding and money circles.  And, as it turns out, AZ FundChain application offers a compelling alternative.

Problems with Traditional Crowdfunding

President Obama’s JOBS Act essentially laid the ground work for crowdfunding.  This legislation was passed in 2012 and included a provision for large groups of anonymous investors to fund startups.  It essentially gets around the dreaded “qualified investor” requirement that created a barrier for so many potential participants.  Crowdfunding is a great way for non-traditional businesses to raise funds for operating capital.  It certainly beats having to beg a bank for a loan, or, even worse, a loan shark.

But, as the common cliché goes, no good deed goes unpunished.  Traditional crowdfunding and money circles certainly have their fair share of problems.  The biggest problem is trust.  There are essentially very little checks and balances when it comes to how these companies will use the money that is raised.  Companies can promise the world but may not deliver on them, and many don’t.

There is also a bit of an information disconnect.  The “crowd” does very little research into these businesses that use crowdfunding.  They may read an online pitch or video, and perhaps do some general industry research, but not much more.  On the flip side, look at venture capitalists and how much time they spend doing this exact same thing but on a much larger scale.  And VC’s lose on most of their investments.  So, will the public do better?  Unlikely.

AZ FundChain Application Offers a Compelling Solution

FundChain is a decentralized, transparent and reliable money circle and crowdfunding application running on the blockchain.  The application, with its native currency (AZ), offers many benefits as compared to the traditional model of crowdfunding.  Those benefits include the following:

  • Accessibility and Intuitive User Interface – The application is available on both iOS and Android which makes it available to nearly everyone.
  • Social Aspect, User Profiles, and Credibility – FundChain’s goal is to eliminate the asymmetric information and financial losses that occur because of negligence. With FundChain, in order to participate, participants will assess each other with regard to their reputation scores.  These scores can be seen by all which improves credibility.
  • Deposits/Withdrawals – Participants can deposit and withdraw via ETH, USDC, or ERC20 tokens. This is especially important as it offers an opportunity to reach unbanked communities.
  • Transparency – Because FundChain is built on blockchain technology, the application is fully transparent.  Funds can be traced and reputation scores are shown.  In addition, smart contracts work in a sort of manager role.

FundChain excels at understanding the problems associated with traditional crowdfunding and developing solutions to deal with those problems.  The above benefits are just a few of the many offered by FundChain.

AZ Token Sale

AZ Token will serve as the fuel behind the FundChain platform.  The token will have continuous demand as it will be bought back from the open market through transaction fees.  The company started the public sale of tokens on March 1 and the ICO is expected to last 30 days. The minimum required investment is $10 and each AZ Token is worth roughly $0.63 USD.

Summary

There is no doubt that crowdfunding is the way of the future.  But given all the problems associated with it, the industry is in need of serious change.  AZ FundChain is a promising application that offers a great start toward disrupting the industry and helping to better align incentives and risks for both businesses and funders.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

Is there a Real Value to Binance Coin (BNB)?

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Binance Coin
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Binance Coin (BNB) is one of the most interesting cryptocurrencies at the market right now. The coin was developed by the largest crypto exchange by trading volume in the world, and it only works within the exchange’s ecosystem. However, it still managed to achieve what many believed was impossible — it stopped following Bitcoin’s lead, and it started carving its own path.

At the very least, the coin is highly intriguing, but does it hold real value? This is a question that many in the crypto community have been asking for a while now, uncertain whether BNB is a worthy investment or not.

What gives BNB its value?

Binance Coin cannot be used for purchasing goods and services, like Bitcoin. It currently does not fuel a development platform like Ethereum. It cannot even be used as XRP for sending international payments. However, the coin had still managed to triple its price in the last three months and to surge when most other cryptocurrencies were seeing losses due to the last remnants of the crypto winter.

BNB managed to achieve all of this because of its use cases within Binance, but also because of its future potential. First of all, Binance is the largest crypto exchange in the world, with millions of customers, most of which use the exchange on a daily basis.

This means that the exchange inspires…

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Altcoins

Top 3 Reasons To HODL Binance Coin (BNB)

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Binance Coin
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After 2018 crypto winter began, everyone involved with cryptocurrencies experienced quite a difficult period. The prices were down, weak projects started failing, and even the strong ones appeared to be in more trouble than they could face. The year was especially difficult for HODLers, as they expected that the coins’ prices would continue to skyrocket. Instead, they lost a fortune, not even knowing if the prices will ever start returning to their former heights.

These days, things do not seem so bad anymore. The prices are still down, most of the coins are still at their newly-found bottoms, but smaller bull runs are improving the situation, while a massive one still remains somewhere in the future, at least according to optimists.

However, among the coins in the vast and diverse crypto market, one token stands out. Binance Coin is not exactly a typical cryptocurrency, and for many reasons. The biggest one is that it is one of the few tokens out there that does not follow Bitcoin’s lead, at least not anymore. Whether that will change in the future remains to be seen, but for now, BNB appears to be going its own way, carving its own path through the crypto market.

Its price has increased by several hundred percents since the year began, and for now, it continues to grow. As such, it is perhaps more worthy…

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Altcoins

Why Binance Could Become The First Centralized Company To Achieve Total Decentralization

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Binance DEX
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At this point, pretty much everyone who knows anything about cryptocurrencies knows that they are based on the concept of decentralization. The same is true for the blockchain technology. While there are some exceptions, such as certain stablecoins, most digital coins follow this principle.

This means that these coins, as well as their network, have no central authority, no single entity that would make choices and decisions that would impact others. However, while most coins managed to achieve this through different complex mechanisms and algorithms — one aspect of crypto trading still remains heavily centralized. We are, of course, talking about crypto exchanges.

Centralization of crypto exchanges

Most of the largest crypto exchanges out there are designed as companies, rather than community-operated platforms. The exchanges have their employees who designed them and developed special tools. They act as customer support, developers, innovators, and alike.

They also get to decide which coins will be listed and which are too weak, uncertain, or not fit to be found on the list. Exchanges are also responsible for keeping the traders’ and investors’ funds safe, which is why they typically develop their own wallets. As such, they are often targeted by hackers, as the coins are stored in an exchange wallet, waiting to be withdrawn, sold, or converted into different currencies.

This makes them extremely unsafe, and investors and traders are always…

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