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TokenPay (TPAY) Says “HODLing Is Not The Purpose Of Crypto”

TokenPay (TPAY) has come out again, this time to dash the hope of HODLers, saying HODLing is not the purpose cryptocurrency. In a well-crafted enlightenment messages shared on its medium page, TokenPay stands to make changes to some “myths” in the cryptocurrency space.

Through its Twitter handle, TokenPay has been issuing blistering statements criticizing some ethos in the cryptocurrency community. The cryptocurrency’s recent message started off by saying the ease of integration and clear hype factor made most major crypto exchanges to be predominantly littered with ERC-20 tokens.

“Not only does an ERC-20 token not represent company “stock”, but it is actually even more sinister. This egregious invention has no blockchain or technological utility other than its ease of integration and tradability on unlicensed and unregulated crypto exchanges. It is a proverbial casino chip. There is nothing wrong with gambling, as long as the game is fair. But the crypto market is rigged.”

The blockchain platform then linked the present situation with that of Amazon, remembering the wondering crypto lovers of the 90% stock loss witnessed in a year by the e-commerce company, but still survives and stays among the best.

Adoption Matters Than Anything Else.

To TokenPay, which brands itself “Adoption Maximalists”, mass acceptance of cryptocurrency is germane than any other thing, pointing that real time settlement is very important.

Most Crypto Are Poorly Designed: Bitcoin Is Slow.

TokenPay condemned most of the cryptocurrencies, saying they are poorly designed.

“One of the dirty little secrets of the crypto industry is that there is really no benefit to transacting in most of the coins or tokens.”

As usual, TPAY berated Bitcoin again, pointing that it is slow and costly. The crypto firm said Ethereum isn’t scalable and has multiple bugs. The team said about NEO, recognizing that their blockchain failed recently.

HODLing is Not the Purpose of Crypto? Then What Is?

TokenPay is no bothered about the present condition of the cryptocurrency market. The cryptocurrency sees beyond HODLing saying real life use cases will birth a reformed crypto society.

The firm brags that it has “conducted in excess of a million dollars of real world transactions with various suppliers using TPAY as a method of payment”, and so is more concerned about adoption.

“To us it is an amazing achievement. But instead of embracing the real world adoption of TPAY, there exists a cancerous element of the crypto community that equates price of the coin with the success of an enterprise. There is zero correlation, in fact the inverse in many cases may have more relevance.”

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This content was originally published here.

Litecoin Acquires Stake in German Bank through Strategic Partnership with Payments Processor TokenPay

Litecoin Acquires Stake in German Bank through Strategic Partnership with Payments Processor TokenPay

July 11, 2018 by Ian Moore


  Litecoin foundation has acquired a 9.9% stake in major German bank through a strategic partnership with cryptocurrency payments processor Token Pay. The Crypto-to-fiat payments firm has now passed ownership of the 9.9 percent of the equity in WEG Bank AG to Litecoin Foundation in exchange for the latter’s technical assistance in advancing the bank’s

Litecoin foundation has acquired a 9.9% stake in major German bank through a strategic partnership with cryptocurrency payments processor Token Pay.

The Crypto-to-fiat payments firm has now passed ownership of the 9.9 percent of the equity in WEG Bank AG to Litecoin Foundation in exchange for the latter’s technical assistance in advancing the bank’s plans to bring cryptocurrency payment solutions to customers and working with TokenPay on its various blockchain projects.

I’m excited to announce that @LTCFoundation and @TokenPay have entered into a strategic partnership to buy a stake in a German bank, WEG Bank AG. We plan to work on many exciting consumer-driven crypto solutions. Stay tuned! 🚀

The Litecoin foundation is looking to integrate LTC with the WEG Bank AG and its services in order to make it easy for potential investors to purchase and use the cryptocurrency.

In an announcement earlier this year, TokenPay stated that the funds for the acquisition are derived from a token sale conducted in December 2017. The firm also plans to purchase a further 90% stake in the WEG Bank AG.

Launched in 2015, TokenPay built its own blockchain protocol and native TPAY token in an effort to facilitate scalable crypto-to-fiat transactions. The platform is looking to become a decentralized exchange offering asset management with TokenSuisse, a Fintech Platform, as well as offering a multi-sig transaction engine.

“Our ecosystem consisting of the TPAY blockchain, WEG Bank, TokenSuisse and Litecoin Foundation provides us with a tremendous opportunity regarding merchant solutions, along with a strong and diverse customer base for our crypto debit card business,’ said Dr. Jorg E. Wilhelm, head of the supervisory board of TokenPay Swiss AG. “The tangible reality of bridging the gap between the old and new world is electrifying.”

This content was originally published here.

Mark Zuckerberg is right to explore the potential of the blockchain for Facebook

That statement comes amid a period of crypto frenzy, with the cryptocurrencies themselves rising in value significancy, and it’s already prompting some people to speculate on what companies Facebook should buy. It marks a rare time that the CEO of a major global tech company has committed to even exploring the blockchain.

It’s really is a no-brainer for Facebook to look into these technologies since there is serious potential to advance the current tech status quo in meaningful ways.

We know that appeals to Zuckerberg. The Facebook founder has long believed his company’s mission is to connect the world — to the point that he still makes much-mocked efforts to woo the Chinese government — and the blockchain is a technology that, if utilized correctly, could give Facebook a platform to beat censors worldwide, even in China.

For example, Steemit is a Reddit-like decentralized social network that operates on the blockchain. Beyond a more robust position against censors, the service rewards its users for good content with small amount of crypto currency and has penalties for spam and fake content. It’s an early effort with a small community that has struggled to gain widespread adoption, but it might give Zuckerberg some early clues.

But censorship is just one of many areas where Facebook could utilize the blockchain and a decentralized network. It has invested heavily in peer-to-peer payments — perhaps in the hope of emulating the high level of user engagement WeChat sees in China — and fintech is a hotbed for blockchain-focused technology and startups. Beyond launching its own project or buying another, Facebook could also piggyback any number of decentralized payment platforms that are currently in development and aimed at making global payments cheaper (free?) and faster.

Others less obvious areas relevant to Facebook that others are attacking with decentralized projects including transparent online advertising platforms, local discovery platforms, artificial intelligence platforms, music/video streaming platforms and more.

Zuckerberg’s past New Year resolutions have focused on his own challenges such as learning Mandarin, making his own AI, and visiting all American states, but this time around it could impact Facebook’s tech and products.

Featured Image: Facebook

This content was originally published here.

Monero [XMR]s lead developer states TokenPay are “snake oil salesmen”

Recently, Twitter witnessed a feud involving the lead developer of Monero, Riccardo Spagni, who goes by the name Fluffy Pony on Twitter, and TokenPay, a cryptocurrency payment platform.

According to the posts, Riccardo was invited for an open debate by TokenPay to address the allegations made by him which stated that TokenPay was a centralized platform and their proposed Distributed Proof of Stake [DPoS] model was significantly worse than the distributed database.

After a series of discussions, the CEO of TokenPay, Derek Capo accused Riccardo of creating a platform which could be used by criminals to access the darknet marketplace whereas TokenPay operated only in legitimate markets. He said:

“while there are legitimate needs for privacy, drug dealing, child porn, and trafficking do not count”

Riccardo declined to debate with TokenPay as he did not want to give them free publicity, adding that they were “snake oil salesman”. Spagni was later accused of giving TokenPay publicity by publicly debating on Twitter. Furthermore, he was held responsible for declining the debate due to the fear that TokenPay would be a competitive concern for Monero in the future.

“Totally different. I’m not retweeting any of these replies, so they don’t appear in my timeline. Most of my followers won’t even be aware that the debate is happening. An audio/video/live debate would be markedly different”

TokenPay stated that they were not in a competition with Monero as the platform’s marketing was clearly driven towards dark market adoption whereas TokenPay was solely focused on legitimate commerce activity.

Riccardo countered TokenPay by stating that criminals on dark markets needed the strongest privacy. The Monero platform was not marketed to such criminals but they just started using the Monero without taking permission. He added:

“But they’re also smart, and will only start using technology if it’s truly privacy enhancing. Think about that for a second”

According to TokenPay, Monero was building products which catered to the criminal underworld. They further stated that Monero’s illegitimacy would soon be realized by authorities. They added:

“We will keep doing what we are doing in the legitimate commerce markets. Stop worrying, we aren’t competitors”

In the post, Riccardo stated that Monero’s intention to enable privacy was for the downtrodden and underserved. He further blamed TokenPay for their horrific insinuation. He added:

“If criminals choose to also use it we can no less stop them than a kitchen knife manufacturer can prevent their knife from being used to murder”

This content was originally published here.

This content was originally published here.