Social encounters

India has experienced significant economic growth in an increasingly mobile and interconnected world. This nation of 1.36 billion people, more than every country except China, also has the biggest diaspora in the world. In addition, the country has perhaps the world’s biggest outsourcing industry, worth about $150 billion. Needless to say, huge amounts of cross-border money flow into the country, mainly in the form of remittances. Under the traditional financial systems of wire transfers and banking networks, a lot of this hard-earned cash end up in billions of dollars in transaction costs.

Blockchain and cryptocurrencies for cross-border remittances can save the world billions of dollars every year. With blockchain, you can transfer digital tokens to anyone in the world, paying only for the network power or technology used to send those tokens, which costs way lower than the current prevailing fees in the traditional services. This way, much more of your money can reach your family, instead of being wasted on fees.

Despite the changing attitude toward altcoins and initial coin offerings (ICO) on the whole, Launchpad — the token offering platform developed by the world’s leading cryptocurrency exchange Binance — is selling out of its offerings in a matter of minutes. With the firm now concluding a series of sold-out token launches, the company divided opinions when it announced changes to the structure of its platform.

The changes to Launchpad’s format drew sharp criticism from members of the crypto community, with many saying that the changes would price out small investors.

Investors and crypto enthusiasts expressed concerns over what implications the new format could have.

The main concerns fall into two categories. The first issue that critics were swift to point out is that the proposed system appeared to favor “whales” — i.e. individuals or entities that hold a large number of cryptocurrency — and was in danger of pricing out smaller investors unable to hold 100 BNB. CZ pointed out that, while it would be possible to lower the threshold, this would consequently reduce the percentage chance of winning and could result in dissatisfaction with the service. Many critics suggested a “magic number” of 50 BNB. While CZ admitted that the threshold could potentially be a mistake, he did stress that the core demand remained very high for Launchpad and that limiting the minimum amount does not represent a quick solution to the problem.

The second issue concerned whales creating several accounts in order to gain additional tickets, thereby maximizing their chances of being selected. In addition to information in the press release stating that all due diligence and Know Your Customer (KYC) measures would still apply as usual.

Binance Research Analyzes Irregularities Discovered on Augur. Research takes an in-depth look into irregularities discovered on @augurproject, the largest decentralized prediction market platform built on top of Ethereum. The report further reveals several issues faced by Augur in its current iteration, including low liquidity and participation rates, bare-bones usability functions, and complex voting, settlement, and forking mechanisms. MATIC NETWORK (MATIC). Matic Network is a Layer 2 scaling solution that achieves scale by utilizing sidechains, Plasma framework and PoS validators.

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Upcoming events:

Paris Blockchain Week Summit: Wei Zhou CFO of @binance will be on the main crypto market place.

Date: 6–17 APR. 2019

Location: Paris, France

Website: https://pbwsummit.com/

Blockchain Charity Foundation (Binance BCF)

BCF is expanding its support to 3,747 students and staff across 10 schools in Jinja and Kampala in Uganda. Each beneficiary was provided with the mobile crypto wallet, Trust Wallet account where they receive a daily crypto donation worth US$0.30 in BNB for their school lunches for a full year. The donation for these 10 new schools, totaling in US$236,061, was made possible by Binance and BCF’s sponsors, as well as TRON, IOST, and a Binance VIP customer, with the distribution of delivery, separated within 3 tranches for the current timeline.

The donated crypto funds will then be delivered to the crypto wallet held by the vetted suppliers, who provide food to the schools every day. The suppliers are then able to redeem crypto to Uganda shillings on Binance Uganda, which was established in October 2018 as the first fiat-to-crypto exchange of Binance.