Friday, 14 September 2018

Is DeskBell Chain in the category of 'cryptoquest? ' It is hard to tell, but there’s no reason to deny.

All people love to play — it is a fact you cannot deny. A play is the easiest and the most interesting way to learn about something; there you can demonstrate your leadership skills and earn rewards. No wonder that lately, quests became so popular. Moreover, with the growth of cryptocurrency industry appeared cryptoquests, which we will discuss below.

As we know, quest is an interactive game with a plot, where you need to solve different brain-twisters and logical problems. And if previously, virtual quests were more popular, now many quests are in real life. Is there something new cryptoquests can bring in? 

A good example will be DeskBell Chain, which can be one of them.

DeskBell Chain project based on a blockchain technology and DeskBell app. Their target audience are tourists, hotels and business representatives according to the location of the hotel. They register in the system and become participants of the quest. For example: a business near the hotel creates a task and posts an ad about it in the DeskBell Chain system. 

A restaurant may offer to try a meal and rate it; a theater — to attend a play; a museum — to attend an exhibition and take a picture of it. Or, there can be more complex, multi-step tasks. Once a user hears about it, he or she does the task and gets a predetermined reward. In this case, the reward is measured in tokens (DeskBell Token), which can be exchanged inside the DeskBell Chain system or used as a paying method.

As you can see, a final goal for all the participants is different: hotels and businesses are trying to attract new clients and become more popular; guests, whether it is a family or a single person on a business trip, want to make their trip more memorable, exiting and efficient. Step by step, going from one task to the next, they will get all of the benefits mentioned above.

There aren’t many cryptoquests now, this field is still being exploited. The said DeskBell Chain is a unique one. It integrates geolocation mechanisms, token exchange, smartphone advantages and the real world, where the tourist will take action. Will these quests become popular? It is hard to tell, but there’s no reason to deny.

Thursday, 6 September 2018

Blockchain records transaction in a manner that preserves privacy and security.

by John David - CrytoTech Ventures & Consultancy

What is Cryptography and why Blockchain is the most secured instrument that protects your privacy?

Cryptography (or Cryptology) has been around and being used practically everyday without even realizing it. Cryptography converts data into a format that is unreadable for an unauthorized user, allowing it to be transmitted without unauthorized entities decoding it back into a readable format, thus compromising the data.

Information security uses cryptography on several levels. The information cannot be read without a key to decrypt it. The information maintains its integrity during transit and while being stored. Cryptography also aids in non-repudiation. This means that the sender and the delivery of a message can be verified.

Cryptography also allows senders and receivers to authenticate each other through the use of key pairs. There are various types of algorithms for encryption, some common algorithms include:

1. Secret Key Cryptography (SKC): Here only one key is used for both encryption and decryption. This type of encryption is also referred to as symmetric encryption.

2. Public Key Cryptography (PKC): Here two keys are used. This type of encryption is also called asymmetric encryption. One key is the public key that anyone can access. The other key is the private key, and only the owner can access it. The sender encrypts the information using the receiver’s public key. The receiver decrypts the message using his/her private key. For non-repudiation, the sender encrypts plain text using a private key, while the receiver uses the sender’s public key to decrypt it. Thus, the receiver knows who sent it.

3. Hash Functions: These are different from SKC and PKC. They use no key and are also called one-way encryption. Hash functions are mainly used to ensure that a file has remained unchanged.

Many of the messaging apps we have right now embeded with encyrption.

Cryptography is the siginicant reason why Blockchain Technology is so secured. Cryptography is the method of disguising and revealing - otherwise known as encrypting and decrypting.

In Blockchain, cryptography is primarily used for two purposes:
1. Securing the identity of the sender
2. Ensuring the past records cannot be tempered with.

What makes Blockchain unique is you can have complete confidence that once a transaction is recorded on the blockchain, it is done in a manner that preserves privacy and security.

Monday, 3 September 2018

DeskBell Chain - How to store your DBT Tokens

DeskBell is a new service, which has been confidently implementing in the hotel business around the world and can well become a reliable assistant for both the tourist and the personnel.

According to observations, DeskBell Chain is blockchain project within the service for DeskBell hotel business. It is an interesting project that attracts both experienced and novice cryptocurrency market participants.

The last trying to be fully in the field of crypto currencies, they read information on the special sites, subscribe to YouTube and Telegram blockchain channels, join crypto currency traders’ chats and closely monitor the ups and downs of the coins. 

However, during acquaintance with DeskBell Chain they can have quite logical questions: how to buy DBT tokens, and how and where to store them?

DeskBell is a new service, which has been confidently implementing in the hotel business around the world and can well become a reliable assistant for both the tourist and the personnel. The application contains full information about the hotel services (schedule, menu or list of services, prices, location, etc.), which will make vacation of the guests comfortable, and the work of the staff more calm and efficient.

Within the service, developers launched the project of the blockchain platform – DeskBell Chain, which offers a new model of interaction between business and clients in the tourist sphere. Hotels, local institutions, local business and the whole region will be united in a mutual exchange of services, offers and announcements of events. Hotel guests, in their turn, will be able not only use the offered complex of services with pleasure, but also become participants of various events.

Thus, instead of the usual mechanisms of marketing programs there are the participation of all sides and the socialization of the service, which leads to a reduction in costs for the advertising campaign, an increase of the average check, a flexible system of offers to different groups of guests, etc.

The unified internal currency of this service will be DeskBell Token (DBT) – a token based on Ethereum. It will be used to pay for DeskBell services, and will also become a reward for users actively participating in the life of the DeskBell ecosystem and filling the service.

Initially, only a limited number of tokens will be released into circulation, without the possibility of additional emission. Additional release of tokens is expected only after the fund raising: they will cover bonuses of early buyers and bounty campaigns. During the ICO, the emission will occur gradually, in parallel to the token sale.

Transfer processes and storage principles of the tokens resemble cryptocurrencies: both here and there special wallet applications are used that store and process keys, and also generate and sign transactions. Typically, such applications are included in the infrastructure of the tokenization platform.

Client’s personal Ethereum wallet will represent the internal account for DeskBell customers. They can open it either in DeskBell, or on their own specialized resources (in this case, the wallet must be registered in the service). Among the most popular and convenient wallets MyEtherWallet service is often allocated. According to the developers, this wallet is not an online Ethereum store, it is only a service that helps to access coins stored in computer memory via browser. The funds are not transferred to the storage of a third-party resource, all the access keys are kept only in the wallet, and therefore the user’s risk is minimal.

In DeskBell service, you can supplement your internal account through participating in programs, as well as purchasing tokens in public sources, for example, from other holders of DBT. If the customer has registered in the service and passed the verification, then he will be allowed to replenish the internal account directly with fiat means through DeskBell.

It is important to note that in the future, to support the liquidity of the token, developers are planning to create a reserve fund for DBT, ETH and fiat funds. Due to this, they will give priority to the token holders in their customers implementation of the service.

In general, the DBT’s turnover and storage scheme is fairly transparent and reliable. And it is not important where your personal wallet will be opened – in DeskBell itself or in any profile resource – the level of safety of your currency will be equally high. 

Saturday, 1 September 2018

Blockchain in FinTech - PNG's Finschaffen Special Economic Zone (FSEZ)

Blockchains are distributed banks or ledgers which can store real time records. In the case of currency they can store transaction records. They are called distributed because everyone who participates can have the entire record of every transaction that has taken place in the system but in a transparent anonymous way. 

In financial technology they help solve many loopholes in our current banking systems. Our current fiat currencies run by central banks are subjected to political influence, government manipulation and financial meltdowns. Thus the recent global financial crisis caused by greed in the banking industry. 

Such corruption cause wars, creates famine, cripple national economies and feed the corporate greed. In other words, our current systems are no longer free from corporate controls. It is set up to be easily manipulated or can now be easily manipulated. 

Currency manipulation is very dangerous as a superpower can easily use financial systems to manipulate resources prices and take over a nation by pushing it into debt. It’s happening all over Africa. Blockchains are an answer to solve corporate corruption and can help us get back our freedom. With its transparent architecture, distributed nature and lightning speed the internet of value can push transactions across the globe in seconds. It’s a trustless system meaning you don’t need trust it’s in itself a transparent system. 

You only need trust when humans are involved but the blockchain is powered by the laws of mathematics and as far as I know 1 + 1 has always been 2 and will always be. No room for corruption. Blockchains can help solve tax frauds, election fraud and keep proper state land records with technological ease.

It saves time and money. Smart contracts can be deployed to correctly pay service providers and help hardworking public servants correctly receive their entitlements. The Ethereum Blockchain is purposely built to implement smart contracts and will be a way forward in the future of how our governments are run.

The main reasons why central banks and some governments are against the use of blockchains is because firstly they don’t fully understand the technology. As a principal do not oppose something simply because you don’t understand it do your own research. Many governments are still in the dark doing nothing to fully study the technology and understand its impact on society. Weigh out the findings and do policies based on solid research. 

The other reason is blockchains will definitely put banks out of service. Just like emails and smartphones did to the post office. It will digitally disrupt the entire banking system. With fully functional blockchains up and running we don't need banks any more. All middle men are taken out of the equation. You can send money from the jungles of Menyamya to your girlfriend in Los Angeles in split seconds without any intermediary such as visa or western union charging you 50 bucks. It actually is free on some blockchains and can costs about K0.01 on others to send any amount. 

That’s why the banks will continuously send out threatening warnings to the public and the government in some cases will support them. This is because our money is kept in the banks and the government gets tax from it. Blockchains bypass all these and people get to do whatever they want with their own money however they want to. 

Blockchains & crypto currencies are sweet revenge for people who feel that governments are using tax income for corruption practices. To them it is the great economic reset, the shifting of wealth back to the people. On the other hand there are countries who have embraced blockchains. Russia and Venezuela have fully backed the crypto industry through their central banks. Microsoft has already implemented its Azure clould service onto the blockchain and Samsung is building microchips for bitcoin mining. 

These are superpowers and multinationals they can never be wrong Blockchain is here to stay. It’s coming whether we like it or not. Globalization has it’s humor, as always your kids will still adapt and use the technology you oppose after you are gone. Better adapt to the changing seasons or die out. 

As I’m writing this we have over 1,300 crypto currencies now trading on exchanges.

 In PNG the GoPNG has given the approval for the FSEZ in Finschafen with the backing of US blockchain firm Ledger Atlas Inc. back by Tim Draper which is a good move. In terms of financial inclusion services for the remote and unbanked it’s a bonus for PNG. The FSEZ will surely bring spinoffs to the locals. It’s just a matter of them positioning themselves to become the blockchain capital of PNG and the Pacific. SEZs can have tremendous effects on the district because it can attract blockchain firms to set up in the district bringing more services. 

Similar SEZ in Malta, South Korea and Philippines have attracted many firms all over the world to set up shop. The proposed bill states innovative set-ups, training and development so alot will be going on in the hub if done correctly. But again it is subjected to landowner cooperation and unity otherwise it can be moved to another province in PNG. 

Political rivalry can also hinder such advances so again it is subjected to these factors. Locals should now work with the politicians to register ILGs and start their businesses around the FSEZ Township to benefit when the IT firms roll in. And that simply is development, seeing the future and aligning the constituents for the coming FSEZ. 

Kudos to Hon. Rainbo Paita and his team though many in Finschaffen still need to understand what’s coming it was a bold move to accommodate the FSEZ in your district. As a side note beware of fake MLM schemes going on in PNG claiming to be cryptocurrencies, because of the fame of bitcoin many MLMs are coming out claiming to be cryptocurrencies. A good example would be TBC now growing in following in Morobe.

 Otherwise the paragraphs above are just my say on blockchain according to what I know just trying to be factual than opinionated. 

Friday, 31 August 2018

PNG's Blockchain Pasifik proudly launches the Junior Blockchain Challenge in Port Moresby

A CALL to uniquely design blockchain challenges based on real-life problems that companies and/or organizations face, thus providing true blockchain solution to solve complex situations while securing its adequate and smooth implementation are initiatives undertaken globally by various governments.

In Singapore, the Infocomm Media Development Authority (IMDA), advocates for a digital economy for a smart nation and promotes a blockchain challenge that sees its participants to produce Blockchain-enabled solutions going beyond financial solutions.

The Smart Dubai Office (SDO) also facilitates Blockchain challenges to startups in Blockchain application businesses.

In Papua New Guinea, the Blockchain Pasifik, in the true spirit of inclusive, the Junior Blockchain Pasifik Challenge was launched today, and is in full swing.

Four schools in the National Capital District, Port Moresby International School (POMIS), Kila Kila Secondary School, Don Bosco Technical Institute, and Kopkop College will participate in the inaugural challenge.

The competion requirement is for each School Team to prepare a Proof of Concept Paper on blockchain projects for PNG or the Pacific.

The teams will pitch their ideas during the PNG Leaders blockchain session on 10th October, at the grand event, and will be judged by blockchain experts.

The top concepts will win cash prizes and possible funding from investors or government.

Outstanding individual talents will be placed in a talent pool for further development via junior internships under blockchain projects in PNG, or abroad.

All schools will undergo weekly mentoring workshops, leading up to the Main Event in October.

The Junior Blockchain Pasifik Challenge is funded by the Australian Government and facilitated by Em Stret and Blockchain Pasifik.