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ICON Coin News: New Blockchain Projects In Seoul

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ICON coin news

The recent ICON coin news has brought a lot of excitement regarding this South Korean blockchain platform. During the Seoul Metropolitan Government Blockchain International Digital Festival, the ICON team decided to present its three new projects. The projects were developed with the goal of using the blockchain technology for improving Korean society.

ICON’s demonstration was a result of collaboration between ICONLOOP and several of the country’s government entities. The Seoul Metropolitan Government and Korea NIA (National Information Security Agency) were among the most notable ones. Furthermore, the country’s National Election Commission supervised the event.

The demonstration also represents yet another way for ICON to strengthen the ties with the South Korean government. The project is entering important discussions with the government on regular basis, and their main goal is the acceleration of crypto legislation in Korea. Considering how friendly Korea is to the crypto world, there is a lot that the two entities can achieve to change life in this country through mutual effort.

As a result, the latest ICON coin news has brought three new initiatives that will make the Korean society more democratic, reliable, and prosperous, as ICON’s Medium post says. The projects that ICON has introduced include an ID card, a new voting system, as well as S-Coin payments, all of which are based on ICON’s own blockchain.

ICON’s blockchain-based ID card

The first of the three demos revolves around a citizen ID card based on blockchain technology. The concept of it is simple, and user details and photo are simply recorded on the blockchain. A new QR code is generated, and when scanned via phone, it displays this information. Right now, the system is still quite rudimentary, and there is room for improvement. However, the fact that information recorded on blockchain cannot be changed makes this technology perfect for recording and safely storing such sensitive data.

ICON introduced a new blockchain-based voting system

The second of the three initiatives concerns voting. ICON has presented a new system that many consider being the next gen election system. By using this system, users will easily register their votes via the voting platform, and as a reward, they will receive S-coin. Furthermore, the S-coin, which was backed by Korean Won for the purpose of this demonstration.

This project has the potential to completely digitize voting. Additionally, the qualities of blockchain technology would completely eliminate any kind of tampering or vote manipulation.

ICON’s S-coin Payments

The third and final project that ICON has been working on is a prototype crypto named Seoul Coin, or S-Coin. The coin is designed to serve as a new way to make digitized payments throughout the city of Seoul. Users would have the currency stored in their crypto wallets, and by simply scanning QR codes on different products, they would transfer the product’s price and details via the app that would allow them to pay for the product instantly.

If this type of payment gets introduced, it would effectively eliminate any need for carrying cash and even cards.

The ICON coin news has caused a lot of excitement, as the projects do promise to change a lot of things for the better. However, the positive reaction to ICON’s demonstration has yet to reflect on its own coin, ICX. At the time of writing, ICON is experiencing losses, with the coin’s value dropping by 3.30% in the last 24 hours. Its current price is at $0.622471, which is the lowest that the coin has experienced in the last two weeks.

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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.

Image courtesy of Pexels

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3 Reasons Why WISE Token Could Be a Massive Winner in 2021

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WISE token

After working in proprietary trading for over a decade, I decided to transition to crypto in early 2017.  Although crypto is significantly different from traditional capital markets, I managed to successfully find a niche for successful and opportunistic trading.  While 2017 was the perfect time to get involved, the past few years have proven to be a bit more challenging as far as generating ROI.

Cryptocurrency traders have spent the past several years searching far and wide for the next big winner.  While the market as a whole hasn’t been very bull friendly, one specific area that appears to be gaining traction is decentralized finance, more commonly known as DeFi.  This area generally refers to the digital assets and financial smart contracts, protocols, and decentralized applications (DApps) built on Ethereum.  The reason why so many crypto entrepreneurs are flocking to this space is that it allows them to create traditional financial vehicles in a decentralized network, outside the meddlesome control of foreign governments.

One extremely popular DeFi project is Chainlink (LINK) which is a decentralized oracle network that provides real-world data to smart contracts on the blockchain.  Chainlink has seen its token price increase by more than 300% year-to-date.    Another impressive project in the space is Kyber Network (KNC) which has seen its token soar from $0.20 at the start of the year to more than $1.60 at present.  Kyber Network’s on-chain liquidity protocol allows decentralized tokens swaps to be…

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Lotto Nation is Revolutionizing the Traditional Lottery Industry

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Lotto Nation

As the global economy continues to deal with the economic fallout due to the ongoing pandemic, companies are coming to terms with the fact that normalcy may not return for quite a while.  Many economists are wondering how the business landscape will look a year or more from now.  It’s certainly possible that many businesses, such as retailers and restaurants, may be unable to survive the current downturn.  But while some businesses will falter, others will emerge stronger than ever.

Traditionally, when economies go through a severe downturn, companies adapt.  Those that maintain the status quo usually have great difficulty while those that adapt prosper and conquer.  One possible example of this is Lotto Nation.  Thanks to the entrepreneurial skills of Nils Thomson, the Founder and CEO of Lotto Nation, the company is attempting to completely modernize the traditional lottery industry.

Current Lottery Model is Severely Outdated

It’s safe to say that nearly every human that has ever walked the earth has fantasized about winning the massive jackpot that would completely change their life.  These dreams have turned the global lottery industry into a $302 billion market that is expected to reach $380 billion by 2025.  Despite this predicted growth, the industry suffers from a variety of problems that are preventing it from really exploding.

Perhaps the biggest problem is that traditional lotteries are centralized.  Because of this, there is essentially no oversight on what a lottery provider…

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Aluna.Social is a Compelling Social Platform for Crypto Traders and Investors

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Aluna.Social

When one thinks about the social media landscape, the companies that first come to mind are most likely Facebook, Instagram, LinkedIn, and Snapchat.  These platforms are a great way to stay connected with friends, families, and colleagues, especially when geographic distance is a factor.  But, in addition to just chatting about life in general and sharing pictures, social media can be used to bridge the information gap that exists within the investment community.

Over the last decade, many trading offices have been established in large cities all over the world which allow solo traders and investors to pay a monthly fee in exchange for a workspace.  The real benefit to trading in these offices is to participate in the free flow of trading ideas and information.  Proprietary trading is one of the most challenging careers to be successful at and the exchange of ideas is almost required in order to succeed.  Traders at hedge funds and investment banks work in teams so why shouldn’t remote traders?

While these trading offices are a great way to help bridge the information gap, Aluna.Social may provide an even better way, especially as it relates to cryptocurrency trading.

Mission Statement

Aluna.Social, founded by Alvin Lee and Henrique Matias, is a multi-exchange social trading terminal for crypto traders and investors.  The goal of the platform is to help newcomers shorten their learning curve, unlock their full potential, and improve trading performance.  Cryptocurrency trading can…

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