Wednesday, October 16, 2019

Centrality Monthly Update

Monthly Update

CEO Aaron McDonald shares key developments over the past month. To stay up-to-date on the progress of Centrality's ecosystem, follow us on Twitter and our Telegram Announcements channel, plus join our community on Centrality's Official Telegram, Instagram, Reddit and Facebook

This month we launched the Centrality Bounty Programme and our community jumped at the opportunity to contribute to our network CENNZnet! This is an important step on our roadmap as we move forward to further decentralization of the network and development.

Half of the bounties have been successfully completed already! but there's still a chance to support us with documentation. Given the appetite, we'll be posting more bounties soon. If you have a question or an idea for the next bounty, let us know on slack.

You can check out our remaining bounties here.

first stage bounties completed

The core tecthnology team have been working on an audit of our technology and technology strategy with a big 4 firm and its looking really promising.

Finally, we're growing fast so we are hiring! If you'd like to join the Centrality team, all vacancies are available on our careers page. Check out the latest from our ecosystem partners here.

This month and ahead of schedule, the Sylo Smart Wallet exited TestFlight to be unveiled in the Apple App and Google Play stores around the world! A milestone event that the Sylo team have been working towards for almost two years, the DApp will change the way the world not only connects and communicates, but transacts.

Sylo

Sylo users can connect from the safety of a wallet address, send and receive digital assets in chat, make audio and video calls, and store any ERC-20 compatible token, such as SYLOs, CENNZ or ETH in a non-custodial wallet.

The team at Sylo have been focused on making technologies like crypto simple enough for everyday use, while still providing a feature-rich experience we couldn't be more proud to see them launch their app on the main APP stores.

Sylo is now growing quickly and we are seeing thousands of new users joining CENNZnet every week! The more people who join and use Sylo the stronger CENNZ will be so help us spread the word and invite your friends to join Sylo and use the Sylo smart wallet.

Upcoming feature additions to the Sylo Smart Wallet in Q4 2019 and beyond will include support for Bitcoin, decentralised storage, a non-fungible sticker marketplace, and the ability for users to create their own dynamic digital assets (DDA's).

If you aren't on Sylo yet, jump in and download it now to take your messaging and chat to the decentralised world.

IOMOB

Phil spent two weeks with Iomob's tech team at their HQ in Barcelona. This included working on our exciting Wellington MaaS (mobility as a service) project, which enables commuters to travel seamlessly with mobility providers including Green Cabs, Flamingo Scooters, Metlink buses, and even the East-West Ferry!

This closer-to-home project is strategically important for Iomob and Centrality, because it's a fast-turnaround initiative with the backing of many key national agencies, including the full support of Wellington Council. Success with our proof-of-concept should lead to a larger integrated pilot in 2020.

CarbonClick

The 27th September marked a series of international strikes and protests to demand action to be taken to address climate change. 170,000 New Zealanders joined the strike for the climate around the country, including CarbonClick who provided protesters with a way to offset their carbon omissions via their dedicated strike page strike.carbon.click

More than 40 climate strike events took place around New Zealand, as part of a global movement calling for urgent action on the climate crisis.

The core of the strike was school students, but many others joined them, with about 100 businesses including CarbonClick, Centrality and PL^G joining the marches and rallies #UNfucktheworld

To stay up-to-date on the progress of our technology, follow us on

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📌 What’s Killing Crypto, New Tax Guidance, and Bakkt Advancing

MUST READS

Mastercard, Visa, eBay Drop out of Facebook's Libra Payments Network

It's official – Facebook's biggest recruits have bailed on Libra.

These recent moves have threatened to derail the controversial project, which had ambitions to remake global finance, before it even got the chance to get off the ground. Here's really why it hurts.

What's next?

Mr. ZuckBucks himself still has to testify before Congress later this month... and he's forming a governing council to help fight this seemingly steep uphill battle.

Bakkt is Looking to Beat CME to the Punch on Options Tied to Bitcoin

Bakkt is looking to get into the bitcoin options business. The firm wants to beat CME to it, who are eyeing a Q1 2020 launch for their own bitcoin options contract.

Although we shouldn't expect bitcoin options contracts to dramatically change the market, the race for options between the CME and Bakkt is still worth watching.

Bitcoin options will likely attract more institutional investors... and ultimately bridge the gap even closer between the crypto and the traditional finance community.

Oh, and speaking of Bakkt – The trading volume of their futures products surged to 224 contracts on October 9. That represented a 796% increase from the previous day.

Slow start, yes... but there's still plenty of room for growth.

Cryptocurrency Investors Get New IRS Income-Reporting Rules

The U.S. Internal Revenue Service (IRS) has published its first guidance in five years for calculating taxes owed on cryptocurrency holdings.

The crypto community has been eagerly awaiting the update since May 2019, when IRS Commissioner Charles Rettig said the agency was working on providing fresh guidance. The agency's 2014 guidance left many questions unanswered, and the crypto market has clearly grown more complex in the years since.

Here's what the new guidance covers:

Tax liabilities created by cryptocurrency forks
Acceptable methods for valuing cryptocurrency received as income
How to calculate taxable gains when selling cryptocurrencies

It's also worth mentioning, the IRS will now ask if you own crypto in the most widely used US tax form – Form 1040.

Blockchain… Biotech… Pot stocks

It's 2019…

What are the wealthiest people in the world doing with their money?

Money Revealed tackles that question head-on… in a format you've never seen before.

Check out the trailer to see what it's all about.

>> Watch the Money Revealed Trailer

DEEP DIVE

How to Read Onchain Data (Part 1)

Ryan Sean Adams from Bankless just published a guide to help average joe's like you and me understand onchain data. Epic stuff.

In his own words: Learn the basics of interpreting onchain data for ETH and BTC using key metrics provided by CoinMetrics. Evaluate these metrics on a regular basis to reassess and understand the fundamentals of your crypto money bets.

Goal: Learn how to interpret onchain data for ETH and BTC using CoinMetrics
Skill: Intermediate
Effort: 1 hour
The result: Make better cryptoasset money bets based on fundamental metrics

What Kills Crypto Projects: Analyzing Deadcoins

With Halloween approaching, it seems like an appropriate time to take a peek into the crypto industry's graveyard. Even in an industry as young as crypto, plenty of projects have already died, and sites like Coinopsy and DeadCoins are providing crowd-sourced autopsy reports.

Get all the data right here...

CoinGecko's Q3 Quarterly Report is out! 🔥

Go ahead and snag CoinGecko's 2019 Q3 Report while its hot. It includes market stats, insights, primer/guides on derivatives, and a DeFi segment featuring some of our favorite projects.

Research Paper: A Model for Bitcoin's Security and the Declining Block Subsidy

This monster paper from Hasu, James Prestwich, and Brandon Curtis is one of the most sophisticated analyses conducted to-date on Bitcoin's economic security model. Well worth a read.

Big News from Trading Legend Jeff Clark

For the past 36 years, Jeff has used options to help people make millions of dollars.

So you may be surprised to hear that he's making a big change.

For the first time, he's telling people to start trading a small group of tiny stocks. That's right… not options, but stocks. Why is he making the switch? After all, don't options offer you the biggest bang for your buck?

He explains everything here…

REGULATORY FRONT

Bitwise's Bitcoin ETF Disapproved by SEC

What do ya know, another ETF rejection by the SEC. While we all were expecting this decision, we weren't expecting the SEC to drop a super-detailed 112-page explanation.

This is our favorite summary of it all, courtesy of @Rptr45. Pretty interesting take on Bitwise's ignorance.

Of course, Bitwise intends to refile in the near future.

SEC Halts Telegram's $1.7B ICO

Last week, the SEC filed "an emergency action and obtained [a] temporary restraining order" against two offshore entities behind Telegram's TON digital token offering.

More details here.