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1  Alternate cryptocurrencies / Altcoin Discussion / What functionality of ICO dashboard is important for the project? on: March 26, 2019, 03:04:04 PM
The ICO running always consists of three integral parts that should be taken into account by founders. There are marketing, legal and technical aspects. All of them are important and the founders canít disregard any of them. We want to distinguish the technical part of the projects in the ICO sphere.

The dashboard is an important instrument for your ICO. The well-developed and complicated dashboard enables to complete the set of tasks that will save your time, money and efforts. The main aim of the dashboard is to automize the acceptance of the currencies during fundraising. Nevertheless, it can also have a range of functions that will cover efficient technical aspects during the ICO. So what functions are important? 

Transactions

The main and most important function of the ICO dashboard is the acceptance of funds invested by users. Thatís why the dashboard should let users make transactions in the most convenient way by depositing a different kind of currencies. The well-developed dashboard enables to carry out the transactions in more than 40 currencies.

Investors panel

Investors panel is the dashboard for the participants of your ICO. It should be user-friendly and establish secure and trusted individual communications with the investors. As usual, it contains the following sections:

The panel where the user can invest his funds. It should enable to accept different currencies in order user can choose the most convenient way to make investments. Also, it lets the contributors see token balance right in the panel.
Main info about the user. Such section contains the personal information about the user such as the name, ETH and BTC accounts, phone, country address.
KYC section. If the project requires KYC procedure this section enables to upload the personal documents and add descriptions on them.
Airdrop section, where the user can take part in the airdrop of the project.
Affiliate section. With help of affiliate section, the user can take part in the affiliate program and get his bonuses.

Email campaigns

The email campaigns function aims to automize the mailing process during the ICO. It helps to customize and schedule email campaigns to work with the segmented database and to increase conversion. The founders donít need to send emails manually or address to the external services providing mailings. So such function enables to avoid additional expenses and save the time.

Airdrop Engine
 
We have already mentioned the importance of this function describing investors panel. Airdrop is a quick way of the extensive attraction of potential investors. It helps to increase the number of registered users of the project by free token distribution. Also, airdrop engine enables quick community engagement and create a database of participants who can invest more funds in the future. 

Affiliate Marketing

Affiliate marketing enables to stimulate users, to create a friendly environment among partners and get a stable, additional income. This function of the dashboard helps each member of the community to track detailed affiliate statistics. After registration on the ICO website, the users receive a referral link and a proposal to invite friends, colleagues, relatives and get additional tokens.

KYC procedure

Know Your Customer, or KYC is a set of identification operations used by founders of the project to counter fraud, theft, money laundering and the financing of illegal operations. KYC during the generation and sale of tokens makes it easier to work with banks and to comply with legal norms against money laundering.

Social Stats Tracking


This function enables to track the social statistics of the interested projects automatically. The founders can always be aware of the situation of other ICOs by taking no efforts, just adding the project info to the dashboard social track section.

Bonuses system

ICO projects always have different stages. The earlier the stage the more advantageous conditions are proposed to investors. A good dashboard should charge bonuses automatically according to the selected stage. Such bonus system providing by the dashboard make the relations with the investors transparent and friendly.

Segmentation

The function of segmentation makes easier to communicate with the users by dividing them into different groups. The groups help founders to provide additional discounts to the investors as well as some special conditions for the definite group.


To sum up, we recommend you to chose the dashboard accurately taking into account the above-described functionality. By choosing the good dashboard you will solve a set of technical problems that can arise during the fundraising and after it. The user-friendly interface, complicated functionality and professional dashboard developers will support the project and help to gain the success.

If you are interested in ICO Dashboard, please visit our website https://icorecord.com/

2  Alternate cryptocurrencies / Altcoin Discussion / How do start cryptocurrency exchange business? on: March 13, 2019, 03:44:28 PM
The cryptocurrency exchanges have become very popular recently. The founders of such exchanges earn thousands of dollars every day. The cryptocurrency exchange business is profitable nowadays, thatís why if you are thinking to open such exchange this article will give you the idea of what steps should be taken into account.

The first step is to choose the right jurisdiction. Every country has its own attitude to cryptocurrency, thatís why the procedure of opening cryptocurrency exchange differ from country to country. Some jurisdictions require the obtaining of a license, which can take several months. Such licenses cost the solid amount of money and the founder should be ready to pay for it. The existence of license enhances the confidence of users to the exchange. The offshore jurisdictions require the annual fixed amount of money and the registration process can take the only month. Also, you can open cryptocurrency exchange in the jurisdictions which donít form any attitude to cryptocurrency yet. This variant is the cheapest but you must be ready that sooner or later the regulatory norms will be created and they can be not very comfortable for you.

The next step is to decide if you want to buy your own server or lease it. Your own server requires several thousands of dollars, but this way is more save as the only founder will have access to the server. Hosting costs up to 100 dollars each month, but in this case, the owner of the server is the provider and you should be confident of it.

The third step is the software for your cryptocurrency exchange. This step has two different options. The first option is to hire the programmer or team of programmers who develop the software by themselves. This will cost tens of thousands of dollars but you can add the complicated functionality that is the most important for you. The second option is to buy a box solution. This variant is quicker than the development of the software from scratch. There are a number of reliable providers in the market who can offer well-developed complicated solutions. The only thing that in both options it is very important to hire experienced testers who will check the software on bugs to avoid hacker attacks in the future.

The next step is to decide the market of your cryptocurrency exchange. The exchange can be international or can target the local market only. The audience of cryptocurrency exchange determines the currencies that should be tied. If your aim is a local market the exchange should be available for local currency. If the cryptocurrency exchange is international the dollar and euro should be available for exchange.

Also, you need to conclude the agreement with the bank. You require the cooperation with the bank or processing to process payments via fiat currency. It is very important what bank to choose as the transaction sometimes can take up to 2 days. Thatí s why partnership with a bank that has fast clearing and settlement of funds will provide convenience for the client. Adding and withdrawing funds can be automated through a payment gateway or made by manual transfer. If the cryptocurrency exchange allows exchanging the fiat money this step is necessary. If there is no such option you can avoid this action.

Almost every business requires marketing and cryptocurrency exchange as well. Of course, the main aspect is the quality of the platform, but nobody knows about it without advertising. There are many ways of advertising your exchange. They are forums, social networks, mass media. Also, one more option to start the cryptocurrency exchange is to run the ICO. In such a way the awareness of your platform among the potential users will be created during ICO stages.

According to the above-described steps, you should be ready for the difficulties that can arise. To our mind, the most important is to find reliable professionals who can fix any aspect in the sphere of their activities. Letís take a look at some possible problems.

The safety of the cryptocurrency exchange is very important. Each cryptocurrency exchange has its own safety system and there are no universal instruments for the moment. Nevertheless, no one is proof against hacker attacks. Thatís why you should hire a high-level team of programmers who will constantly maintain the security of your platform.

As the situation regarding regulating of cryptocurrency in different countries is changing rapidly you should also be confident about the professionalism of your lawyer. Difficulties may arise in case of incorrect legal registration of various papers and permits for conducting activities and can lead to very unpleasant consequences.

The reputation of the chosen bank or payment service provider is very important as well. You should check correctly the methods of work of the bank or payment processor before concluding the agreement.  If any problems with transactions of fiat money arise you should be answerable to your users for such difficulties. So you should be confident that your partner will solve them in an appropriate way.

To sum up, taking into consideration all the necessary steps allows you to open the successful cryptocurrency exchange that will bring you a constant income. The main point is acting responsibly and to be ready for the number of expenses. If your aim is to create a reliable and complicated platform you will for sure gain the success.
3  Alternate cryptocurrencies / Altcoin Discussion / What is better STO or ICO? on: March 12, 2019, 03:08:06 PM
Initial Coin Offering (ICO) has become a very popular method of crowdfunding recently. During a few years, a great number of funds were raised by means of ICO. It helped many startups, their teams and investors gained success and realized amazing ideas. But also participants of ICOs faced the risks connected with investments in scam projects. Thatís why the new instrument such as the Security Token Offering (STO) appeared.

During the ICO the utility tokens are issued. By buying the utility tokens the investors acquire access to the products or services in the future and teams attract the funds for the finance of their blockchain developments. Utility tokens are purchased exclusively for internal calculations, the exchange between users, fees for the provided functions of the software, and so on. Investment is required to simplify the use of the service.

So what is Security Token Offering? STO means the emission of digital assets in accordance with requirements on securities legislation. In 2017 the SEC stated that security tokens fell under the regulation applicable to standard shares, i.e. the release of tokens must be registered mandatory. For one side, the security tokens provide a higher level of protection for investors and reduction of regulative risks for emitents. The holders of security tokens have the right on dividends or voting power. From the other side, security tokens require higher costs for the issuer, as STO is a type of private placement of securities, while ICO is only one type of crowdfunding.

The issuing of security tokens consider the range of requirements that should be met. First of all, the emitent must understand the legislation of the chosen jurisdiction. There are a set of documents issued by SEC regarding the STO. The only high professional lawyer can understand the difference between Regulation A or Regulation S and so on. The emitent should be ready for the higher costs on legal services, as well as compliance. The KYC / AML procedure with such type of placement will consist of several stages. All accredited exchanges strictly require these procedures during the placement of security tokens. Also, the SEC requires that every investor should be checked and has the status of the accredited investor. These aspects make the fundraising much more difficult compared with a similar process during ICO. STOs and ICOs target a different audience, as only professional investors can participate in such placements. So, STO and ICO are two different investment attraction mechanisms aimed for different situations.

One more fact is that the STO requires a different marketing strategy compared with the ICO. The marketing during the ICO is based on attracting and building the community in social media. While the participants of STO are a professional investor, thatís why the marketing should be more complicated as well as more expensive.

The infrastructure for listing the security tokens are not formed yet. There are few licensed trading platforms where the security tokens can be placed. Thatí why the utility tokens issued during ICO are more liquid than security tokens.

STO guarantees a higher level of security for investors as such tokens must be registered in the SEC, so it avoids the possibility of scam projects. ICO canít provide such guarantees for investors, but they have a low level of entry allowing investors with a different range of incomes take part in the projects. STO considers a higher level of entry thatís why the range of investors is less.

STO consider an opportunity for companies in the real sector of the economy, which are not connected with blockchain technology. Esspecialy STO can be attractive to the medium business that can not incur expenses on traditional bond issuing.

To sum up, ICO and STO have their advantages and disadvantages. The most sufficient differences between ICO and STO are:

  • STO provides a higher level of security for investors than ICO;
  • ICO allows attracting a wider range of investors as they have a lower level of entry;
  • STO requires much more expenses for legal services. KYC/AML as well expenses on tokens issuing;
  • The expenses for marketing are less during ICO than STO. Also, marketing strategy during STO is much more complicated.

STO can be an effective way of project development in the future as it is very reliable and needs the implementation of serious instruments. But nowadays it is very hard for teams to meet the SEC requirements and run the STO itself. The market of STO should form all necessary conditions for projects. ICO instruments are clearer and easier now, thatís why more teams still choose this way of crowdfunding for project development.

4  Alternate cryptocurrencies / Altcoin Discussion / Decentralized vs centralized cryptocurrency exchanges, which one is better? on: February 06, 2019, 02:23:48 PM
Decentralization regards as one of the main advantages of the crypto world. Decentralization is the process of distribution of powers in decision-making without the participation of a centralized body. The lack of control makes the cryptocurrency attractive within many market players. Nevertheless, decentralization has its weaknesses and many institutions tend to develop rules and regulations to have control under important processes. These points are actual among cryptocurrency exchanges as well.

Most of the transactions at cryptocurrency exchanges proceed at centralized trading platforms. The centralized cryptocurrency exchanges are regulated by the definite company or person. The companies control all operation proceeded at cryptocurrency exchanges. The centralized cryptocurrency exchanges are the third party which connects sellers and buyers. The main profit of the centralized exchanges is getting by the commission of the transactions made by the users.

The centralized cryptocurrency exchanges store personal information about the users. This fact makes them very attractive to the hacker attacks. Also, most governments develop the regulations of cryptocurrency exchanges which require users to pass the verification process according to AML/KYC procedure. Such rules go against anonymity as the main principle of cryptocurrency. Thatís why many users regard the verification as an inconvenient way of cryptocurrency trading.

As centralized cryptocurrency exchanges are controlled by the definite company the traders should accept the user agreement before the registration. Such agreements can create not very cleared conditions to their users. Some cryptocurrency exchanges, for example, have the right to block the userís account without any warning if it is suspected of laundering money, receiving money from illegal activities and so on.

Centralized cryptocurrency exchanges provide good opportunities for the beginners. They provide users with a range of additional functions such as analytical materials, margin trading, stop loss, lending, etc. Thatís why centralized cryptocurrency exchanges create attractive conditions for those who start trading.

Decentralized cryptocurrency exchanges work on the basis of smart contracts and can operate autonomously. Thatís why the trading operations are conducted independently. There is no any intermediary, so the sellers and the buyers trade directly with each other. The decentralized cryptocurrency exchanges enable to store and to manage funds by users themselves. This fact makes decentralized cryptocurrency exchanges more reliable as they are less attractive for hackers attacks and quicker compared with the centralized exchanges, where the verification process can take a long period of time.

The technical support of decentralized cryptocurrency exchanges is more complicated. Thatís why such exchanges need the high-experienced developers who can launch appropriate dApps. Also, the functionality of decentralized cryptocurrency exchanges is still limited and not so user-friendly.

Decentralized cryptocurrency exchanges enable to exchange one cryptocurrency to another anonymously. But if the user wants to exchange the fiat money then he should pass the verification at most of the decentralized exchanges. One more advantage of such platforms is that the users' accounts canít be blocked by anybody. If the exchange is unexpectedly closed or its team is arrested, users will be able to withdraw funds, as they are stored in the blockchain.

Decentralized cryptocurrency exchanges give the opportunity to trade ICO tokens easier and faster. Centralized platforms require a higher degree of technical development before they can safely integrate a new token into their sites.

Decentralized exchanges have become popular recently, nevertheless, they have some significant disadvantages. One of them is the possibility of trading only tokens belonging to the platform. For example, decentralized exchanges based on Ethereum can only offer Ethereum network tokens. Also, there is a low trading volume at decentralized platforms because of limited functionality.
   
So what kind of cryptocurrency is better? The choice of each user depends on its demands and necessities. The centralized for sure is good platforms for newbies as they provide a trader with a range of user-friendly functionality. The experienced users can combine the trading at two types of platforms depending on the kind of operation. To our mind, the decentralized cryptocurrency exchanges maintain the main features of cryptocurrency and blockchain. Thatís why they are more reliable, transparent and anonymous. Nevertheless, the world tends to regulate cryptocurrency operations so that the decentralized cryptocurrency exchange may have various barriers in their development in future.

Thanks a lot for all your comments. So there are different points of view.

The decentralized cryptocurrency exchanges regard as the new era of the exchanges. They are not controlled by a definite company and the users' funds are stored at their personal wallets. Thatís why decentralized cryptocurrency exchanges provide the confidence and protection to the traders. There are a number of disadvantages in the functionality of decentralized exchanges compared with the centralized one.

I hope there will appear many DEXes in next few years with good volumes, performance and usability. Solutions that we have today are not that popular mostly due to their interfaces and slowness. But instead they have a lot of very important features such as security and many others.

of course decentralized was better, in term's of security DEXs have more point than centralized exchange.
when we use centralized exchange we entrust our money to them so if there are server down or exchange getting hacked you can imagine that all of our money in their exchange will also gone.
it's different compared to DEXs because orders and information routed in a peer-to-peer protocol.
but sadly mostly DEXs now still have to improve in their UI, because it's still confuse many people that new to DEXs.

Other opinions stated that the future belongs to the hybrid cryptocurrency exchanges. A key feature of hybrid exchanges is the parallel operation of centralized and decentralized systems.

Now there are hybrid exchanges. I think the future belongs to them. For example, at the development stage, the qurrex project.

But there are still many barriers to the development of hybrid exchanges.

Hybrid exchange are still new and we have few of them. The bearish market period does not give opportunity to determine the success rate of the hybrid exchange, none on the list high volume exchanges. Asides the security role and platform for large number of coins, the exchange will still have to compete for high volume trade and fiat exchange.  

So, the best way of protection is decentralization. That's why decentralized cryptocurrency exchanges are more secure. The lack of functionality of decentralized exchanges and the low level of protection of centralized exchanges have created the concept of hybrid cryptocurrency exchanges that can be a very perspective compromise in the future.

5  Alternate cryptocurrencies / Altcoin Discussion / Withdrawal Issues, KYC/AML and cryptocurrency exchange regulations in 2019 on: February 05, 2019, 11:23:19 AM
The popularity of cryptocurrency exchanges in recent years caused the appearance of the number of schemes which enable to launder money received with help of illegal measures. Thatís why the governments of some countries as well as owners of crypto exchanges aware regarding the protection themselves against money laundering. As the result, the specific regulations regarding AML/KYC procedure was developed in order to secure the cryptocurrency sphere from fraud. This process has its advantages and disadvantages for cryptocurrency exchanges. Despite the protection, the KYC/AML procedure also goes against the important principle of the crypto world such as privacy.

KYC procedure is the process of customer identity verification. As usual cryptocurrency exchanges verify their customers in order to protect themselves from illegally obtained funds. Such a process is called AML - Anti Money Laundering. Money laundering is the legalization of funds obtained by criminal means which includes actions that conceal the source of funds in order to give them a legal character. The fight against money laundering in cryptocurrency sphere consists of a set of measures aimed at preventing the use of the particular project or institution for legalizing money obtained by criminal means or financing terrorism. The development and implementation of these measures and instruments are carried out by international and national institutions, the banking and business community.

The AML procedure requires the number of expenses which can take a bite the owners of cryptocurrency exchanges. Also, the KYC procedure can stop transactions for up to 50 days or even freeze of the financial accounts. The KYC procedure breaks the anonymity of cryptocurrency as the main principle of this sphere. Nevertheless regulation has undeniable advantages in the world of traditional finance. Creating some obstacle, it protects customers from fraudulent actions of banks and financial institutions and even provides them with mechanisms for compensation for damage.

Binance
, for example, allows withdrawing 2 BTC per 24h for a non-verified account and 100 BTC per 24h for users who passed KYC.
https://support.binance.com/hc/en-us/articles/115000864371-Verification-on-Binance

Bittrex has several levels of accounts. The withdrawal limit depends on the type of the userís account. Bittrex emphasizes the necessity of compliance to ďthe Bank Secrecy Act, U.S. economic sanctions laws, and other legal and regulatory requirementsĒ. The withdrawal limits for different accounts are:
- New/Unverified Accounts: 0 BTC withdrawal limit.
- ID Verified Accounts (without 2FA): withdrawal limit is 1 (or equivalent) BTC per day.
- ID Verified Accounts (with 2FA enabled): withdrawal limit is 100 (or equivalent) BTC per day with two-factor enabled.
https://bittrex.zendesk.com/hc/en-us/articles/231701788

Bitfinex requires verification for those who want to deposit or withdraw fiat money. Also, it is stated the KYC procedure enable ďto speed up the deposit processĒ. Bitfinex doesnít set any withdrawal limits.
https://support.bitfinex.com/hc/en-us/articles/115003355893-Account-Verification-Individuals

More and more jurisdictions around the world require licenses or regulate cryptocurrency exchanges. According to the report Blockchain and Cryptocurrency Regulation 2019 3-4% of Europeís crime in 2017 were committed with the help of cryptocurrency and this percentage is tending to increase rapidly.
https://www.lenzstaehelin.com/uploads/tx_netvlsldb/GLI-BLCH1_Lenz_Staehelin.pdf
The most effective way to regulate the cryptocurrency exchange transactions is to regulate cryptocurrency exchanges. Every cryptocurrency exchange has its own rules on the registration process. The more exchanges require the stricter rules for account verification. As usual, the verified accounts have bonuses for trading operations, but there is a tendency that the user canít even start trading if he doesnít pass the verification. The effectiveness of the KYC/AML procedure depends on service providers mostly. The accounts are frozen for some period of time if there is any suspicious activities noticed.

European Union, The United States, South Korea have developed the KYC/AML rules for cryptocurrency sphere and made them an integral part of crypto regulation processes. After the beginning of the persecution of Bitcoin in China, many players moved their capital to South Korea. Until the beginning of February, they acted on the principle of self-regulation, but after the introduction of the new rules, they were controlled by financial authorities. From January 30, 2018, all Korean banks are required to exercise increased vigilance when working with cryptocurrency exchanges.

European Parliament passed rules concerning KYC/AML procedure. The innovations adopted in April 2018 entailed a series of changes in the work of cryptocurrency exchanges.
http://www.europarl.europa.eu/news/en/press-room/20180411IPR01527/anti-money-laundering-meps-vote-to-shed-light-on-the-true-owners-of-companies
As a result,  LocalBitcoins obliged to go through the mandatory registration of traders working with large capital, and opening a large number of positions. In May KuCoin platform also made changes. All users of the exchange are required to complete the authorization of KYC, indicating their passport details, gender, nationality, place of residence and so on.

The United States states that cryptocurrency trading or trading on stock exchanges falls under the definition of ďmoney service businessesĒ and therefore is subject to the same measures to AML/KYC procedure as other financial institutions.
https://www.sec.gov/about/offices/ocie/amlsourcetool.htm
Bittrex, for example,  established strict rules for withdrawal with respect to unverified users. Unverified accounts have a 0 BTC withdrawal limit, thereby forcing serious traders to go through full registration.

In 2018 Mistertango provided a survey. They asked 25 cryptocurrency exchanges with a daily turnover of 100 million dollars about the necessity of the regulation of cryptocurrency exchange transactions. As the result, 88% of cryptocurrency exchanges want regulation in their operations.
https://www.newsbtc.com/2018/07/31/survey-finds-that-88-of-crypto-exchanges-are-crying-out-for-regulation/

To sum up, we think that more and more reliable cryptocurrency exchanges require the strict AML/KYC procedure for their customers. The reason is that it is the most efficient way to protect themselves against illegal actions as well as protect their users from unpredictable circumstances that can lead to accounts frozen and even to the close of the cryptocurrency exchange. This fact goes against anonymous and decentralization but corresponds to current conditions in the market.
6  Alternate cryptocurrencies / Altcoin Discussion / Can Smart Contracts replace traditional contracts? on: January 31, 2019, 03:04:12 PM
Smart Contracts brought a revolutionary approach to the implementation of the agreements. They enable to performance agreement and preset parameters without a centralized intermediary. That means the avoidance of multiple representations that can take place in the traditional contracts. If the definite parameter is set in the Smart Contract the result will always be unamended apart from any interpretations. This fact differs the Smart Contracts from the traditional contracts where there are often the possibilities of various readings. When such a  situation occurs, the parties need to apply to the court and the solving of discord takes a huge amount of time, money and efforts.

So what Smart Contract is? Letís take a look at the most official definitions. According to Nick Szabo, who coined this term, ďA Smart Contract is a set of promises, specified in the digital form, including protocols within which the parties perform on these promisesĒ. He described the idea of a Smart Contract more than 20 years ago. Nevertheless, there are still a lot of controversial opinions to such agreements. So the Smart Contract is a computer protocol that independently conducts transactions with full control over their implementation on the basis of mathematical algorithms.

The Smart Contracts still have some weak spots that delay its widespread use. Blockchain Ethereum is one of the first platforms which has implemented the Smart Contracts. But even its founder Vitalik Buterin stated that he regretted to name the Smart Contracts smart he should have called them ďpersistent scriptsĒ. The main weaknesses of Smart Contracts are:

  • the writing of the unique and reliable Smart Contract requires a highly experienced specialist. The programmerís errors can lead that the contract will work incorrectly to the prejudice of one party;
  • the intransigence of Smart Contracts. While using the traditional contract there is the possibility to deal with the delay in production or payment. There is no such opportunity in Smart Contracts which can create a range of problems in case of unforeseen conditions;
  • if the user loses an electronic key, there is no possibility to log in;
  • the lack of control which can create the exposure of parties in case of conflicts or incorrect program work.

For the moment the sphere of Smart Contract application is limited with the ICO framework only. The Smart Contract protects the investors and gives them guarantees during the transactions. But in the future, the Smart Contracts can be used far beyond the ICO.

The Smart Contract can be used in sales and purchase transactions of real estate or cars. In this case, the seller creates the Smart Contract on the sale of the apartment and the buyer transfer Ethereum to such contract. The term of the contract stipulates that Ethereum is credited to the sellerís account only after the entry to the state register of real estate is made and the ownership is passed to the buyer. So that the buyer and the seller register the ownership transfer in the register of real estate by themselves and the Smart Contract credits the Ethereum to the sellerís account. Of course, the Smart Contract should be linked and synchronized with the state register of real estate, but also this will avoid such intermediaries, as banks, lawyers, notaries, etc.

Also, smart contact can be applied to insurance, elections, and taxation. The using of Smart Contract in such standardized transactions reduces the legal, banking costs and the costs of other organizations. That means that the transaction and administration costs will decrease a lot. The computer program is responsible for the contract execution. That avoids inequitable conduct of parties and intermediaries. Also, Smart Contract avoids any bureaucracy, corruption, and contrivances.

Nowadays lawyers have already taken into account the possible widespread application of Smart Contracts and many of them state that Smart Contracts can be given the status of a legal document in many countries. There are several theories in the legal world describing how Smart Contracts can be used in the jurisprudence. The particular model states the majority of documents will be written in the standard languages, but the Smart Contract can be appendixes to them. The hybrid model states that the traditional legal documents remain, but some particular terms will be fixed in Smart Contracts. So that in the future the layers should understand the language of Smart Contracts as well as they will be the part of legal documents.
To make a conclusion, we think that Smart Contracts wonít replace traditional contracts in the near future as there are still unsolved issues such as:

  • Smart Contracts can accept the only cryptocurrency for direct payments.
  • Smart Contracts canít regulate complicated human agreements, they enable to fix just standard transactions for the moment.
  • It is impossible to make changes in the Smart Contract, which means that any mistake will lead to incorrect implementation.

Nevertheless, a lot of things changes every day. So above-described aspects can be transformed and developed. The fact is that the Smart Contracts will be the part of human juridical relations in near future.

https://blockchaintechnologyandeconomy.blogspot.com/2018/12/can-smart-contracts-replace-traditional.html

I really appreciate your answers!


To sum up, most comments stated that the smart-contracts can and will replace traditional contracts.

Not just can and replace, all this and is now being implemented blockchain, and for him Smart Contracts to buy apartments and cars, etc., legal electronic contracts, in General, the progress is very fast, do not have time to look back as the world is different!!!

i agree with the majority here they can and they will did you think a traditional contract is more secure than a smart contract for me no i trust blockchain more then anything else in this type of agreement

One of the main point is that such changes need time to be implemented. I agree, that a lot should be done and for the first time, smart-contracts can be used just in a few spheres.

They can and they will. Not so fast of course, many things should being done from technical standpoint as well as regulatory area. In a few decades it could be a real deal, why not? Many middleman structures should be involved nowadays to execute usual contract and it's definitely unacceptable for future.

now Smart Contracts have begun to replace traditional contracts, but have not fully mereta new transactions using it, but gradually I'm sure if smart contracs can gradually replace traditional contracts.

Smart contracts were created to prevent a lot of paperwork and to automise contracts. I believe that smart contracts would replace traditional for example by opening a bank account or a regular B2B or B2C deals.

But as the smart contracts can't deal with unpredictable circumstances when the terms of the agreement can change as well as take into account all sophisticated relationships between parties there is a point of view that they will never replace traditional contracts.

Nope, for a dozen of reasons, but two main are:

1. People still trust old fashioned contracts and crypto adoption is too narrow at this point
2. People need a specific stuff from contact to contract with their own clauses even for standard contacts.

Smart-contracts are good for automated tasks, but people are not automates.

Nevertheless, the technologies are developing rapidly and the time will show the future of smart-contracts.


7  Alternate cryptocurrencies / Service Discussion (Altcoins) / Telegram ico groups on: November 16, 2018, 02:42:32 PM
What are the best telegram ico groups?  
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https://icorecord.com/

ICORECORD - запусти своё ICO за 15 минут


ICORECORD - это онлайн платформа, которая предназначена для проведения ICO вашего проекта. Выбирая ICORECORD, вы получаете качественное решение, а также техническое сопровождение ICO по разумной цене. Предоставляем различные технические составляющие для сбора средств, а именно, сайт для ICO, личный кабинет инвестора, сайт с админским кабинетом, смарт-контракт.


SERVER SOLUTION
$ 1 000

(начальная версия)


Настройка на вашем домене
Безопасное и надежное решение
Настройка на вашем сервере
Профессиональная техническая поддержка
Пользовательская настройка доступна в соответствии с вашими потребностями
Доступно 3 пакета (Start/Standard/Premium)

SAAS SOLUTION ДЛЯ ВАШЕГО ICO
$ 1 000

Быстрый запуск
Настройка на вашем домене
Профессиональная техническая поддержка
Безопасное и надежное решение
Нет необходимости иметь технический опыт и технический персонал
Все функции включены


ФУНКЦИИ


Панель инвестора на вашем веб сайте
Безопасная площадка, где вы устанавливаете безопасные и доверительные отношения с вашими инвесторами.
Отслеживание статистики по социальным сетям
Инструменты по отслеживанию статистики в социальных сетях.
Партнерский маркетинг
Каждый член сообщества может отслеживать статистику по партнерской программе
Рассылка по электронной почте

Возможность настраивать и планировать рассылку по электронной почте с целью работы с вашей сегментированной базой для увеличения конверсии.
Кастомизация
Возможность кастомизации структуры веб сайта для вашего сообщества.
Проведение Airdrop
Возможность проведения Airdrop для быстрого привлечения сообщества.
Сегментация пользователей
Сегментация пользователей и предложения по скидкам.
Процедура KYC
Процедура KYC и интеграция пользователей.
Интеграция с блокчейн
Мы поможем интегрировать ваш блокчейн на наш движок.
Баланс токена участников
Возможность инвесторам видеть баланс токена прямо на панели.
Инструменты для создания токена проекта
Создайте сообщество и отслеживайте его рост, используя наши инструменты.


ПОЛУЧИТЕ ДОСТУП К ДЕМО ВЕРСИИ ПРЯМО СЕЙЧАС


СМАРТ-КОНТРАКТЫ
От $ 1 000

Токен
ICO и pre-ICO
Выкуп токенов
Бонусная система
Дополнительные функции

НАШИ КОНТАКТЫ
Telegram @YasyaICO
10  Alternate cryptocurrencies / Service Announcements (Altcoins) / Services for company registration in offshore on: May 27, 2018, 08:33:32 PM
IT OFFSHORE LTD offers services for company registration in offshore zones.

We register companies in all offshore zones and help to choose the best option for each client.

The list of services is available at https://it-offshore.com.

Our clients:

adamant.io
worldcore.eu
trustx.smithysoft.com
bitandpay.com/ru

Telegram @ YasyaICO
11  Local / Бизнес / Услуги по открытию оффшорных компаний on: May 27, 2018, 08:07:30 PM
Компания IT OFFSHORE LTD предлагает услуги по регистрации предприятий в оффшорных зонах.
Мы регистрируем компании во всех оффшорных зонах и помогаем выбрать оптимальный вариант для каждого клиента.
С перечнем предлагаемых услуг можете ознакомиться на нашем сайте https://it-offshore.com.

Клиенты, с которыми работали:
adamant.io
worldcore.eu
trustx.smithysoft.com
bitandpay.com/ru

Телеграм @YasyaICO
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