Posted by AGORACOM-JC
at 11:38 AM on Thursday, December 12th, 2019
SPONSOR: Tartisan Nickel (TN:CSE)
Kenbridge Property has a measured and indicated resource of 7.14
million tonnes at 0.62% nickel, 0.33% copper. Tartisan also has
interests in Peru, including a 20 percent equity stake in Eloro
Resources and 2 percent NSR in their La Victoria property. Click her for more information
Nickel prices hit 2-week high
Nickel prices hit their highest in nearly two weeks on Thursday, as investors who bet on falling prices had to buy in at a strong support level.
By Mai Nguyen
SINGAPORE, Dec 12 (Reuters) – Nickel prices hit their highest in
nearly two weeks on Thursday, as investors who bet on falling prices had
to buy in at a strong support level.
Nickel prices have fallen in the past weeks to touch a five-month low
of $12,900 a tonne on the London Metal Exchange (LME) on Tuesday, as
the market viewed prices more expensive than supply and demand
fundamentals indicated.
“$13,000 was a critical number to defend,†said a trader.
Three-month nickel on the LME on Thursday climbed as much as 0.9% to $13,980 a tonne, its highest since Nov. 29.
The most-traded nickel contract on the Shanghai Futures Exchange
(ShFE) jumped as high as 3.5% to 110,570 yuan ($15,708.42) a tonne,
nearing a two-week high, before ending at 110,190 yuan a tonne, up 3.1%
from the previous close.
Other nickel industry players said that a royalty hike in top nickel
ore producer Indonesia contributed to a bullish view on prices, but they
expressed uncertainty over how long the upward trend could last.
FUNDAMENTALS
* SPREAD: The LME cash nickel contract was last at a $65 a tonne
discount to the three-month contract, suggesting sufficient nearby
supplies.
* NICKEL STOCKS: LME on-warrant nickel inventories, or those
available to the market, rose to a 2-1/2-month high at 67,248 tonnes.
MNISTX-TOTAL
* ALUMINIUM STOCKS & SPREAD: LME headline aluminium stocks
MALSTX-TOTAL jumped to their highest since April 2018 at 1.33 million
tonnes, and the spread between the cash and three-month contract flipped
to a discount of $8.75 a tonne after mostly holding in the premium zone
for around a month. CMAL0-3
* OTHER PRICES: LME zinc advanced 1.3% to $2,250 a tonne at 0712 GMT,
while copper fell 0.3% to $6,139 a tonne and aluminium rose 0.3% to
$1,766 a tonne. ShFE copper rallied 0.5% to 49,030 yuan a tonne and zinc
jumped 1.1% while aluminium fell 0.3%.
Posted by AGORACOM-JC
at 10:33 AM on Thursday, December 12th, 2019
SPONSOR:ThreeD Capital Inc. (IDK:CSE)
Led by legendary financier, Sheldon Inwentash, ThreeD is a
Canadian-based venture capital firm that only invests in best of breed
small-cap companies which are both defensible and mass scalable. More
than just lip service, Inwentash has financed many of Canada’s biggest
small-cap exits. Click Here For More Information.
The cryptocurrency world has more than its fair share of
self-proclaimed clairvoyants. Whether it’s traders predicting great
things for a digital token that’s set to launch, or a journalist touting
the next groundbreaking Web3 project, future-gazing is a popular
pastime.
With so many crypto projects in the offing, and so many supposed
psychics pulling you in different directions, it can be tough to know
who or what to believe. Even studious observers of the cryptoeconomy
have difficulty reaching consensus on the next sure thing. If 2019 has
been any indication, however, the following projects are likely to
generate even bigger waves in 2020
Saga
Saga is a highly ambitious monetary
venture which seeks to position its digital token, SGA, as a truly
global currency. The UK-based company has been tirelessly working on
perfecting and polishing its monetary and governance models for the past
two years ahead of the ERC20 token launch on December 10. Initially
backed by a basket of national currencies replicating the IMF’s SDR, the
idea is that, as user trust in SGA grows, reliance upon reserves will
decrease and SGA will, as it were, stand on its own two feet.
The industry experience of the Saga team certainly nourishes the
perception that the project may launch into the stratosphere. Its
advisory board includes Professor Jacob A. Frenkel, PhD, chairman of
JPMorgan Chase International and former governor of the Bank of Israel,
and Professor Myron Scholes, Nobel Laureate in Economic Sciences and
Professor Emeritus at Stanford University. With such economic
heavyweights behind it, Saga has already attracted $30m of seed funding
from a collective of partners including Vertex Ventures. Watch this
space.
Fetch.ai
An AI-powered blockchain that launched in 2019, Fetch
allows organizations to pose questions about datasets residing on other
companies’ servers; payments, meanwhile, will be made with digital
tokens. In the Fetch model, Autonomous Economic Agents (AEA) are
utilized to connect IoT devices and algorithms, with the net result a
form of collective super-intelligence built atop a decentralized
economic internet. Got that?
Fetch recently set to work developing a decentralized metals exchange
with several Turkish steelmakers. The new DEX will integrate
AI-accelerated blockchain solutions to facilitate greater participation
and improved liquidity in the trading of steel, base metals and other
commodities. It’s yet another example of blockchain/AI tech feeding into
traditional industries, and when you consider that Fetch’s goal is to
bring smart cities from concept to reality – improving infrastructure
like energy utility grids in the process – you can’t help but think 2020
is going to be a massive year for the crypto project.
RSK
RSK is an open-source, Bitcoin-backed
smart contract platform. Encompassing multiple components including the
Root Infrastructure Framework Token (RIF Token), RIF Open Standard
(RIFOS), and Smart Bitcoin (RBTC), the second-layer protocol seeks to
become a key player in the development of Bitcoin-anchored decentralized
finance, permitting smart contracts and dApps to utilize the
ecosystem’s renowned security.
Its parent company, IOV Labs, also acquired Latin America’s biggest
social media platform Taringa, and it’ll be fascinating to see what
implementations are introduced in the next 12 months. With 30 million
users, Taringa has a ready made community for experiencing the benefits
of decentralized finance, including open access and trustless trade,
wrapped in a user-friendly interface courtesy of RSK’s smart contract
solution.
QAN
The threat of quantum computing is certain to intensify in the years
ahead. Hell, Google says they’ve already reached quantum supremacy in
2019. In any case, quantum-proof blockchain platform QAN
stands in a good position to capitalize. It uses sophisticated Lattice
cryptography to future-proof against quantum cyber attacks which could
break existing blockchain platforms like Ethereum. The result is a
highly scalable, developer-friendly platform that can run smart
contracts in all major programming languages.
QAN uses a Proof-of-Randomness (PoR) consensus to ensure low energy
consumption and is 100x quicker than Ethereum, with a TPS of 97k for
enterprise (POA) chains. The team has been busy shouting about QAN’s
many benefits at various crypto events throughout 2019, so expect more
of the same in 2020. Particularly since QAN’s IEO is due to commence
soon on BitBay exchange, bringing its token to a wider audience of
traders and developers.
There you have it: four innovative projects making plenty of noise in
the cryptosphere, and unlikely to lower their pitch in 2020. You’d do
well to keep tabs on all of them.
Posted by AGORACOM-JC
at 5:30 PM on Wednesday, December 11th, 2019
SPONSOR: NORTHBUD (NBUD:CSE)
Sustainable low cost, high quality cannabinoid production and
procurement focusing on both bio-pharmaceutical development and
Cannabinoid Infused Products. Learn More.
Canadians spent $908M at cannabis stores since legalization, StatCan says
Canadians spent $907,833 on non-medical cannabis between October 2018 and September 2019, the agency said, which works out to $24 per capita.
THE CANADIAN PRESS/Justin Tang
OTTAWA – Canadians spent about $908 million on non-medical cannabis
in the first year since legalization, but online sales dropped as more
brick-and-mortar locations opened, said Statistics Canada.
Canadians spent $907,833 on non-medical cannabis between October 2018
and September 2019, the agency said, which works out to $24 per capita.
Canada legalized cannabis on Oct. 17, 2018, becoming the second
country in the world – after Uruguay – to legalize the drug. Demand
initially appeared to outstrip supply as retailers warned of a pending
shortfall of product.
Over the year, demand appeared to be highest in the sparsely
populated Yukon where sales per capita led the other provinces and
territories at $103, according to Statistics Canada. It was not able to
provide data for Nunavut – the only area without a physical store.
Prince Edward Island sales per capita were the second highest at $97, while B.C. ranked lowest at $10.
Throughout the year, Canadians’ access to cannabis stores increased.
The number of retail stores jumped from 217 this past March to 407 in
July, according to the agency.
Alberta boasts the highest number of stores at 176 and B.C. took
second place with 57 stores. Nunavut had the fewest with zero, followed
by Prince Edward Island and the Yukon, both of which have four.
Nineteen per cent of Canadians lived three kilometres from a cannabis
store as of July 2019. Thirty per cent lived 30 kilometres away and 45
per cent lived within 10 kilometres.
Albertans enjoyed the closest proximity to a store of any province,
with half of the population living within three kilometres of a cannabis
outlet. That figure rises to 63 per cent for five kilometres and 70 per
cent for 10 kilometres.
Ontarians lived the furthest from cannabis stores on average. Nine
per cent of the population resided three kilometres from a cannabis
store. Eighteen per cent lived five kilometres away and 33 per cent were
10 kilometres away.
As the number of physical stores increased, the share of online sales
dropped from 43.4 per cent in October 2018 to 5.9 per cent in September
2019.
“While online cannabis retail ensures access to all Canadians
regardless of proximity to a physical store, accessibility continues to
improve as more stores open across the country,†wrote Statistics Canada
in its paper.
This report by The Canadian Press was first published Dec. 11, 2019.
Posted by AGORACOM-JC
at 11:37 AM on Wednesday, December 11th, 2019
SPONSOR: BetterU Education Corp.
aims to provide access to quality education from around the world.
The company plans to bridge the prevailing gap in the education and job
industry and enhance the lives of its prospective learners by developing
an integrated ecosystem. Click here for more information.
10 Ways Edtech Advances Are Shaking Up Education
The development of edtech isn’t expected to slow down any time soon.
No traditional teaching methods can compete with the levels of student attentiveness, availability and convenience that edtech currently offers.
Professionals from Forbes Technology Council look at the most compelling recent advances in edtech, and why they’re such a big deal to education in the 21st century.
Expert Panel, Forbes Technology Council
Education technology or edtech offers unique opportunities for
student development. The roots of edtech in whiteboards, projectors and
tablets have given rise to popular learning platforms. Now, students can
access on-demand courses, and learn whatever they want thanks to
technological advances in the field. Companies can provide classes to
their workers the same way, allowing them to leverage industrial edtech
for their own business needs and purposes.
The development of edtech isn’t expected to slow down any time soon.
No traditional teaching methods can compete with the levels of student
attentiveness, availability and convenience that edtech currently
offers. Professionals from Forbes Technology Council look at the most compelling recent advances in edtech, and why they’re such a big deal to education in the 21st century.
1. Online Learning Platforms
Digital transformations are now letting students ditch the physical
classroom. You can learn everything from coding skills to personal
finance basics from resources like Coursera.
These programs are taught by industry leaders who are aligned with
current trends and needs in the job market. You learn more valuable and
relevant skills in a shorter amount of time compared to traditional
education. – Marc Fischer, Dogtown Media LLC
2. Live Online Tutoring
Live online tutoring used to be relegated to English-language
teachers who had to wake up at odd hours to meet their pupils online. As
a more accessible option, the schedules of parents and kids no longer
need to coordinate, reducing traffic on the roads and carbon emissions.
It also allows parents to be more selective in their tutors instead of
going with whoever can accommodate their schedule. – Arnie Gordon, Arlyn Scales
3. Educational Phone Apps
Instead of fighting with students to keep them away from their
beloved phones, how about using smartphones to help them learn? We need
more simple, high-quality apps like Grasshopper.
Apps need to have bite-sized chapters that are small but super focused.
The interface should also be simple and intuitive. The more interactive
the content is, the higher the learning will be. Edtech is fun with
these apps. – Vikram Joshi, pulsd
Extended reality (XR) moves students away from traditional lectures
toward more engaging, immersive learning experiences within a simulated
real-world space. Other benefits include increased comprehension levels
and long-term memory retention among students. Best of all, as the
technology enters the mainstream market, XR will be an affordable
teaching option for many educational institutions. – Christopher Yang, Corporate Travel Management
6. Faculty Tech
Classroom edtech isn’t the only thing that’s been booming. There’s a
huge trend in primary and higher education systems using new technology
to track and monitor their strategic and operational plans. It’s really
interesting to see the difference in the past few years as universities
in particular have shifted from tracking plans in spreadsheets to using
integrated plan management tools. – Christy Johnson, AchieveIt
7. Screencasting
Screencasting has changed the dynamics of the classroom as it offers
both teachers and students the freedom to actively engage with the
lessons. It has helped teachers untether from the front of the classroom
and empowered students to share their work. This results in overall
higher engagement amongst the students, but in a fun and interesting
manner more importantly! – Mihir Shinde, B&H Photo Video Pro Audio
8. Gamification
One of my favorite edtech advancements has been gamification in the
classroom. Gamification is being applied to educational environments
through different pieces of software in the marketplace. This enables
greater student interaction in the classroom and in place of traditional
homework. I am a big fan of gamification in education as it gets
students more excited about learning. – Marcus Turner, Enola Labs
9. Professional-Grade Tools
Giving students professional-grade tools means they have the ability
to produce amazing things. Google’s G Suite and Chromebooks give
students professional tools at budget prices without any of the fluff or
bloatware of other solutions. Schools that deploy these tools are more
likely to have students that enter the workforce with experience and
familiarity with enterprise offerings. – Tom Roberto, Core Technology Solutions
10. Collaboration
I’ve seen some great edtech tools come and go, but one tool that has stuck out is Flipgrid.
It effectively combines the preferred way students like to share with
the way educators set instructional goals. By coupling these two,
students and teachers can collaborate, share and connect. It’s one of
the tools that is enabling engagement beyond traditional instruction. – Tyler Shaddix, GoGuardian
Posted by AGORACOM-JC
at 9:32 AM on Wednesday, December 11th, 2019
Until now, investor participation in Artificial Intelligence has been the domain of mega companies and those funded by Silicon Valley. Small cap investors can finally consider participating in the great future of A.I. through Datametrex AI (DM: TSXV) (Soon To Be Nexaology) who just reported the following:
Q3 Revenues Of $1.6 million, an increase of 186%
9 Mont Revenues Of $2.56M an increase of 37%
A Repeat $1M Contract With A Division Of Korean Giant LOTTE Group
$954,000 Contract With Canadian Department of Defence To Fight Social Media Election Meddling
Participation In NATO Research Task Group On Social Media Threat Detection
When a small cap A.I. company is successfully deploying at the
highest levels of global commerce and military, it is a strong sign of
the Company’s capabilities that behooves investors to look deeper.
That deep dive can begin with our joint interview of Datametrex CEO,
Marshall Gunter and President, Jeff Stevens in which we look not only
into the past recent success but also into what the future holds in
terms of both growth and competition.
Watch this interview on one of your favourite screens or hit play and listen to the audio as you drive.
As Greg McDougall prepared to fly the world’s first all-electric
commercial aircraft Tuesday morning, he said “nervous†wasn’t quite the
word to describe how he was feeling.
The fact that the Harbour Air CEO would be the first person to take
the modified de Havilland Beaver on a full test flight didn’t faze him,
nor did knowledge of a charging glitch the night before.
McDougall had gone for a dinner break Monday evening while a crew of
designers and engineers stared at their computers with furrowed brows,
and he returned later to find them smiling and laughing, crisis averted.
“The emotion isn’t necessarily excitement, it’s more sort of anticipation and focus,†he said.
Harbour Air pilot and CEO Greg McDougall talks to media after
completing the world’s first all-electric, zero-emission commercial
aircraft test flight in a 62 year old de Havilland DHC-2 Beaver from
Vancouver International Airports South Terminal on the Fraser River in
Richmond on Tuesday. DON MACKINNON / AFP via Getty Images
With the sun hanging low over the Fraser River in Richmond, McDougall
shifted the throttle into gear and took off. After landing, he said it
felt just like flying any other plane, only with more kick.
“For me, that flight was just like flying a Beaver but it was a
Beaver on electric steroids,†he said, adding he had to throttle back in
order to delay the takeoff to be in line with about a dozen cameras.
“It wanted to fly. With the tailwind it was going to leap off the water.â€
The brief but successful test flight marked a significant win for
Harbour Air and partner magniX, which designed the electric motor, in
the race to electrify commercial aviation fleets.
Harbour Air pilot and CEO Greg McDougall flies the world’s
first all-electric, zero-emission commercial aircraft during a test
flight in a de Havilland DHC-2 Beaver from Vancouver International
Airports South Terminal on the Fraser River in Richmond on Tuesday. DON MACKINNON / AFP via Getty Images
Dozens of companies are working on electric planes, including Boeing
and Airbus. Israeli company Eviation unveiled a nine-seat, all-electric
plane named “Alice†at the Paris Air Show in June, which also happens to
be a magniX project.
Roei Ganzarski, CEO of Seattle-based engineering firm magniX,
described the test flight as the beginning of a revolution in aviation.
In 1903, the Wright brothers made history with the first successful
flight and, in 1939, the Heinkel jet launched the jet age, he said.
“Since 1939, we’ve pretty much stayed stable. Today that team made history,†Ganzarski said, gesturing toward the design team.
Harbour Air announced in March that it had partnered with magniX with
the goal of becoming the world’s first all-electric airline.
The 62-year-old Beaver was outfitted with a 750-horsepower electric
motor, which gives it capacity to fly about 160 kilometres before
needing a recharge.
Harbour Air pilot and CEO Greg McDougall flies the world’s
first all-electric, zero-emission commercial aircraft during a test
flight in a de Havilland DHC-2 Beaver from Vancouver International
Airports South Terminal on the Fraser River in Richmond on Tuesday. DON MACKINNON / AFP via Getty Images
Weight, altitude and storage remain the biggest barriers to flying
electric. A mid-sized passenger plane weighs 100 times as much as a
mid-sized car and the battery technology hasn’t quite adjusted to the
aviation market.
Fuel also remains about 40 to 50 times more power dense than
batteries, Ganzarski said. But the team expects innovation in the
battery industry to continue in the same way for aviation as it has for
electric cars. The key will be developing batteries that are more
compact at the same time that they are more powerful.
The test flight used lithium-ion batteries because they are the most
“tried and true,†but there are already others on the market that are
more powerful, McDougall said.
“The evolution of lithium batteries is constant and there are
literally billions of dollars being poured into that technology as we
speak,†he said.
In the meantime, Ganzarski said the market is there for electric planes to take off around the world.
Harbour Air Pilot and CEO Greg McDougall taxis to the water to
fly the world’s first all-electric, zero-emission commercial aircraft
during a test flight in a de Havilland DHC-2 Beaver from Vancouver
International Airports South Terminal on the Fraser River in Richmond on
Tuesday. DON MACKINNON / AFP via Getty Images
Forty-five per cent of flights worldwide cover distances of 800
kilometres or less, and five per cent cover distances under 160
kilometres, he said.
Exactly when the electric aircraft will be approved for commercial
flight is unclear as Transport Canada will be entering new territory.
But McDougall said the goal is to get passengers on Harbour Air electric flights within two years.
The operating costs are between 50 and 80 per cent lower than
combustion engines and ultimately, that will mean lower ticket prices
for passengers, he said.
Harbour Air covers 12 routes and operates about 30,000 flights a year between Vancouver, Victoria, Seattle and other locations.
Posted by AGORACOM-JC
at 8:22 AM on Wednesday, December 11th, 2019
Company entered into securities purchase agreements with four accredited investors
Pursuant to the Purchase Agreements, in the final tranche, the Company issued the Investors convertible promissory notes in the aggregate principal amount of $550,000 (including a 10% original issue discount) and Warrants to purchase an aggregate of 916,667 shares of the Company’s common stock, par value $0.001 per share
BIRKIRKARA, Malta, Dec. 11, 2019 – Esports Entertainment Group, Inc. (OTCQB: GMBL) (or the “Company”), a licensed online gambling company with a focus on esports wagering and 18+ gaming, is pleased to announce the closing, on December 6, 2019, of the final tranche of its private placement offering (the “Offeringâ€) whereby the Company entered into securities purchase agreements (the “Purchase Agreementsâ€) with four (4) accredited investors (the “Investorsâ€). Pursuant to the Purchase Agreements, in the final tranche, the Company issued the Investors convertible promissory notes (the “Notesâ€) in the aggregate principal amount of $550,000 (including a 10% original issue discount) and Warrants to purchase an aggregate of 916,667 shares of the Company’s common stock, par value $0.001 per share (the “Warrantsâ€).
The Notes accrue interest at a rate of 5% per annum and are initially
convertible into shares of the Company’s common stock at a conversion
price of $0.60 per share, subject to adjustment. The Notes contain
customary events of default and mature one year from the date of
issuance.
Pursuant to the Purchase Agreements, each Investor was entitled to
100% Warrant coverage, such that such Investor received the same number
of Warrants to purchase shares of the Company’s common stock as is the
number of shares of common stock initially issuable upon conversion of
its Note as of the date of issuance. The Warrants are exercisable for a
period of three (3) years from the date of issuance at a price of $0.75
per share, subject to adjustment.
Grant Johnson, CEO of Esports Entertainment Group, stated: “This is
another major milestone for our Company. This financing will allow us to
complete initiatives that have been announced over the past several
months, as we look towards building our business and our brand in order
to return shareholder value.â€
Joseph Gunnar & Co., LLC acted as Placement Agent in connection with the Offering.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the securities, nor will there be any
sale of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of such jurisdiction.
This press release is available on our Online Investor Relations
Community for shareholders and potential shareholders to ask questions,
receive answers and collaborate with management in a fully moderated
forum https://agoracom.com/ir/EsportsEntertainmentGroup
RedChip investor relations Esports Entertainment Group Investor Page: http://www.gmblinfo.com
ABOUT ESPORTS ENTERTAINMENT GROUP
Esports Entertainment Group, Inc. is a licensed online gambling
company with a focus on esports wagering and 18+ gaming. Esports
Entertainment offers bet exchange style wagering on esports events in a
licensed, regulated and secure platform to the global esports audience
at vie.gg.
In addition, Esports Entertainment intends to offer users from around
the world the ability to participate in multi-player mobile and PC video
game tournaments for cash prizes. Esports Entertainment is led by a
team of industry professionals and technical experts from the online
gambling and the video game industries, and esports. The Company holds a
license to conduct online gambling and 18+ gaming on a global basis in
Curacao, Kingdom of the Netherlands. The Company maintains offices in
Malta and Warsaw, Poland. Esports Entertainment common stock is listed
on the OTCQB under the symbol GMBL. For more information visit www.esportsentertainmentgroup.com
FORWARD-LOOKING STATEMENTS The
information contained herein includes forward-looking statements. These
statements relate to future events or to our future financial
performance, and involve known and unknown risks, uncertainties and
other factors that may cause our actual results, levels of activity,
performance, or achievements to be materially different from any future
results, levels of activity, performance or achievements expressed or
implied by these forward-looking statements. You should not place undue
reliance on forward-looking statements since they involve known and
unknown risks, uncertainties and other factors which are, in some cases,
beyond our control and which could, and likely will, materially affect
actual results, levels of activity, performance or achievements. Any
forward-looking statement reflects our current views with respect to
future events and is subject to these and other risks, uncertainties and
assumptions relating to our operations, results of operations, growth
strategy and liquidity. We assume no obligation to publicly update or
revise these forward-looking statements for any reason, or to update the
reasons actual results could differ materially from those anticipated
in these forward-looking statements, even if new information becomes
available in the future. The safe harbor for forward-looking statements
contained in the Securities Litigation Reform Act of 1995 protects
companies from liability for their forward-looking statements if they comply with the requirements of the Act.
Posted by AGORACOM-JC
at 3:50 PM on Tuesday, December 10th, 2019
SPONSOR:ThreeD Capital Inc. (IDK:CSE)
Led by legendary financier, Sheldon Inwentash, ThreeD is a
Canadian-based venture capital firm that only invests in best of breed
small-cap companies which are both defensible and mass scalable. More
than just lip service, Inwentash has financed many of Canada’s biggest
small-cap exits. Click Here For More Information.
London Startup Aurus Launches Gold-Backed Crypto Token, Possibly Opening The Gold Market To New Investors
Stablecoins offer the potential for crypto to be used as day-to-day payments because their value is pegged to an underlying asset, where price stability is more consistent.Â
Still, the middleman sitting in-between buyer and seller exists to exchange digital assets into traditional fiat currency
The idea that crypto coins can be used for everyday goods and
services is not a reality, yet. Stablecoins offer the potential for
crypto to be used as day-to-day payments because their value is pegged
to an underlying asset, where price stability is more consistent. Still,
the middleman sitting in-between buyer and seller exists to exchange
digital assets into traditional fiat currency. Typically, stablecoins,
like Paxos or USDT, are used in the crypto market as hedging instruments
or as value stores. Payment pipelines for everyday purchases are
essential, and only when seamless integration is a reality can the
public reap the benefits of a more streamlined infrastructure, as some
blockchain purists promise. When we examine what is under the hood of
our payment systems, we can see where blockchain innovation could
transform older infrastructure into something better.
If we look at the evolution of stablecoins as an innovation in
payments, how they are regulated and hold value creates new risks for
investors. Stablecoins have been criticized over the past year as
potentially not being as price stable as believed. However, the market
for this type of security has grown significantly and is becoming more
crowded with new coins. Are stablecoins something worth integrating into
our economy? How does the crypto industry design a way where
decentralized technology creates an independent and non-controlled
currency that can be used for everyday transactions? Can the reality of
digital gold be achieved and utilized as a form of payment?
Aurus – newly launched – has created a form of tokenized gold, and
represents an actual ownership stake in physical gold. This adaptation
is an innovation from existing stablecoins that could decrease the
middleman footprint and could expand the traditional gold market.
I interviewed Guido Van Stijn, who is the CEO of Aurus. Aurus
is a software company that provides tokenization-as-a-service (TaaS)
that enables the gold market to autonomously tokenize their gold into
AurusGOLD (AWG). Mr. Van Stijn
explained that each AWG token is collateralized and redeemable for 1
gram of physical gold. As described to me, AWG will not be controlled by
a government and exists as an ERC-20 token. The claim being regardless
if Aurus survives as a company, the gold-backed token will survive on as
an asset, just as a gold bar would. This is a unique approach to
tokenization because each coin is traceable to a specific gold bar
registration. Unlike ownership in a gold exchange-traded fund, which is
an equity and does not represent physical gold ownership, AWG states
that it is actual gold ownership.
Using a tokenized asset like a gold-backed token could be a benefit
to the traditional gold buyer. The AWG tokens are sold at just a
fraction above the gold spot price. Mr. Van Stijn explained, “Our
processes are different than other gold-backed projects. All gold-backed
stablecoins currently on the market have a centralized minting process.
Meaning the company itself will, at some point, hold the gold. By
digitally replicating the traditional gold market, Aurus is the first
project to create a self-sustaining ecosystem made up of gold providers,
vaults, and distributors that work together to produce a
semi-decentralized gold-backed cryptocurrency.â€
To allow the self-sustaining ecosystem to exist, Aurus circulates a
second hybrid utility token, AurusCOIN (AWX). Mr. Mark Gesterkamp, the
Business Development Director for Aurus, said, “AWX is limited to a
total supply of 30,000,000 units, deriving transactional fees from the
usage of AWG. AWX offers investors the opportunity to buy into the
future growth of Aurus.†Mr. Van Stijn said, “As people around the world
trade AWG, 70% of all the generated transaction fees are proportionally
distributed across all AWX holders (paid in AWG). The remaining 30% of
the generated fees are allocated towards the ecosystems’ operational
costs as follows: 15% to gold providers, 15% to vault partners.†For the
first time, market participants can generate a passive income stream on
the bullion they sell.
Who wants gold when you can have Bitcoin?
There is nothing special about gold-backed stablecoins in crypto. But
Aurus has created something different that bridges the gap between
traditional gold trading and the crypto world. More importantly, access
to the gold market can be achieved without the need for gold
brokers. The claim made by Mr. Van Stijn is that his method lowers the
barriers of entry for public gold investment.
Tony Dobra, who sits on the Aurus advisory board, formally a general
manager of Baird & Co., believes that AWG is unique. Mr. Dobra said,
“While it is not the only gold on the blockchain, it is the most truly
gold-based trade available in crypto. Via the AWG cryptocurrency,
producers, refiners, and traders can tokenize their gold in multiple
locations of their choice and trade the underlying gold on several
platforms and exchanges. Because there are multiple locations,
providers, and traders, the best price can be obtained. You are not
limited to just one location or one price provider.â€
Aurus expects and is working to achieve a state where AWG will create
more liquidity in the gold market. More importantly, the team at Aurus
explained their main goal is for AWG to be used for everyday
transactions, i.e., have AWG be used like cash for everyday
purchases. While there is a long way to go before this is a reality, the
Aurus project seems to be a shift in the direction of asset-backed
digital currency. If this works, commodity and precious metal trading
could be influenced to follow suit. As for use in payments, stablecoins
like AWG, still require an exchange mechanism at the point of sale. Time
will tell if this style will become publicly adopted.
Posted by AGORACOM-JC
at 2:35 PM on Tuesday, December 10th, 2019
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Palladium roars to record $1,900/oz. on South Africa power cuts
“South Africa produces 40% of world’s palladium and the ESKOM outages are hitting some mines, giving palladium just that extra nudge above $1,900,” says Tai Wong, head of base and precious metals derivatives trading at BMO
Spot palladium recently was +1% at $1,901.27/oz., after hitting an all-time high $1,903/oz.
“South Africa produces 40% of world’s palladium and the ESKOM outages
are hitting some mines, giving palladium just that extra nudge above
$1,900,” says Tai Wong, head of base and precious metals derivatives
trading at BMO, but after 13 straight positive sessions, “it wouldn’t be
surprising to see some consolidation, though the overall trend
continues to look positive.”
Scarcity concerns over palladium already have helped lift the metal by ~50% in 2019, due to its large demand in the auto sector.
Other metals also gained on the South African outages, with platinum +3.1% at $922.40/oz., the highest since Nov. 21, and silver +0.4% to $16.66/oz.; spot gold only +0.1% at $1,463.66/oz.
Posted by AGORACOM-JC
at 1:20 PM on Tuesday, December 10th, 2019
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