Best cryptocurrency to invest in september 2017
Indeed, that headline-making development would be the first of many to come for It was a year that arguably exceeded last year's bullish predictions and one that saw unprecedented interest coming from places — particularly in the finance industry — that some may not have imagined possible just 12 months ago. While January started off with bitcoin price fireworks, that month would also see one of the defining regulatory moments of an initial move by the People's Bank of China, the country's central bank, to tighten its oversight of the country's then-dominant bitcoin exchanges. Yet, the warnings from Chinese officials didn't cause the market death blow that some observers feared. Those exchanges later halted withdrawals following new edicts from the PBoC, ultimately closing fiat trading this fall following further restrictions from Chinese regulators.
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- Best Cryptocurrency Apps and Exchanges for February 2022
- 12 most popular types of cryptocurrency
- Top 10 Cryptocurrencies In January 2022
- Demystifying Cryptocurrencies, Blockchain, and ICOs
- REGULATION OF CRYPTOCURRENCY IN CHINA
- Bitcoin is a fraud that will blow up, says JP Morgan boss
- The future of cryptocurrency regulation
Best Cryptocurrency Apps and Exchanges for February 2022
Blockchain technology and cryptocurrencies could remake global health financing and usher in an era global health equity and universal health coverage.
We outline and provide examples for at least four important ways in which this potential disruption of traditional global health funding mechanisms could occur: universal access to financing through direct transactions without third parties; novel new multilateral financing mechanisms; increased security and reduced fraud and corruption; and the opportunity for open markets for healthcare data that drive discovery and innovation.
We see these issues as a paramount to the delivery of healthcare worldwide and relevant for payers and providers of healthcare at state, national and global levels; for government and non-governmental organisations; and for global aid organisations, including the WHO, International Monetary Fund and World Bank Group.
Cryptocurrencies could enable universal access to financing mechanisms by removing third-party financial intermediaries and offering transparent, secure and accountable means for global health financing.
Blockchain technology could usher in a new era of multilateral financing mechanisms, for example, through the use of smart contracts for health system development. A blockchain-based financing system could reduce fraud and corruption in global health development while accelerating necessary transactions through secure, immutable ledgers. Blockchain technology could create new capital markets for healthcare data, engaging patients, hospitals, governments, researchers and others in an open market that could drive down costs and accelerate discovery and innovation.
In , leaders from around the world met in Alma-Ata. In turn, accessing such capital is dependent on improved transparency, such that investors can see how, when and where funds are deployed, and exactly what returns have been achieved as a result of this investment.
This level of transparency remains impossible under the prevailing system of monetary exchange. The weaknesses of this current paradigm beg the question: What if strategy, process, outcome and funding could all be inextricably linked? Blockchain, the technology underlying Bitcoin, Ethereum and countless other cryptocurrencies, is built atop a network that makes trusted, secure, immutable and interoperable records of every transaction.
Moreover, it makes this record available in every corner of the globe. This technology is already being adopted by a variety of industries, including banking, minerals and mining, and food procurement. Today, health systems in low and middle-income countries LMIC remain severely underfunded and suffer from limited access to capital markets. This, alongside weaknesses in workforce and infrastructure, represents the most fundamental challenges faced by these health systems.
There are many reasons why potential funders have historically shied away from investment in low and middle-income health systems. First, potential investors—both traditional donor agencies and sources of private, for profit investment—often have insufficient data about the quality of care and management of institutions in which they could potentially invest.
Second, such investments have often been inefficient, if not wasteful, and unable to yield meaningful health impacts. These upfront data gaps, operational inefficiencies, and inadequate monitoring and evaluation frameworks have limited capital flow into healthcare in LMICs because the return on investment—either financial or social—has been largely impossible to track. Blockchain has the potential to offer meaningful solutions to each of these challenges. In its June report on FinTech, the International Monetary Fund IMF found that emerging technologies are likely to improve cross-border payments with cheaper, faster and safer options, and blur boundaries between markets, intermediaries and financial service providers.
Cryptocurrencies that use blockchain are based on the concept of an ever growing, immutable, distributed ledger that can provide a secure, transparent, global currency with the potential to fundamentally alter global access to finance. Born out of the financial crisis, cryptocurrencies remove third-party institutions from finance and directly enable parties to pay and receive assets over a trusted peer-to-peer network. This represents a significant paradigm shift towards creating global health and financial equity through universal access to financing.
The system minimises fraud and prevents counterfeiting compared with current financing mechanisms, giving financial credibility to anyone who has funds. Second, by removing financial institutions as third-party intermediaries, cryptocurrencies using blockchain ledgers stand to further promote global financial equity by allowing those previously without access to trusted financial institutions—due to poverty, instability or corruption, for example—to bypass the hurdles and overcome the costs of accessing financial institutions.
Unlike third-party financial intermediaries with potentially high fees and long processing delays, cryptocurrencies offer faster payments, remittances with minimal transaction cost and increased verifiability that money arrives where it is sent figure 1. The cost and speed of such a blockchain will be highly dependent on what is developed in coming months and years.
Typically, a proposed cryptocurrency transaction relies on the verification of several data points to be executed. The proposed buyer must have the currency available to transfer, the recipient must be validated on the network, and the money designated to be moved must not be involved in any other transactions. A transaction occurs only after a member of the network verifies this information, and more than half of the other network nodes endorse this work.
By design, cryptocurrencies protect against duplicate or counterfeit transactions. In these transactions, conditions must be satisfied before a transaction can be executed ie, a certain amount of time may be required to elapse, or a certain number of shareholders may need to sign off on a transaction.
Such smart contracts can similarly be tailored to healthcare and to healthcare system development in a variety of ways. In recent years, the practice of results-based financing has gained traction in international development. Verifying such results, however, remains exceedingly costly, 13 often requiring on the ground verification by the grant makers. In addition, outcome measures must be quite broad and simplistic eg, the percentage of women of unknown HIV status checked at annual visits, or percentage of women in the third phase of labour who receive tocolytics.
Even still, results remain largely falsifiable with scarce accountability. A blockchain in healthcare development could use unique identifiers for equipment, supplies, patient care, lab results, combined with time and geolocation stamps. It could quickly and verifiably demonstrate exactly what services are performed and what outcomes are achieved. Similarly, at an institutional level, profit and loss can be monitored in real time, both by local and system level administrators, as well as by grant funders.
A smart contract could release additional funding as verifiable outcomes are reached or development goals are met. More importantly, smart contract blockchains for healthcare will create new funding and capital streams and potentially bring new funders into global health delivery.
For example, the rise of social impact bonds and development impact bonds in recent years, which have been employed in a variety of forms from reducing asthma-related in paediatric emergency department visits 14 to improving access to education for girls in rural India, 15 illustrates a broad market interest in investments intended to deliver social goods, reduce costs and bridge global health inequity gaps.
These bonds have the potential to bring new funders into global health and development, but have seen challenges scaling with investors because of difficult measuring impact and time gaps in return on investment.
Similarly, the World Bank has revealed plans to explore how blockchain can facilitate a mobile phone-based bond issuance program in Kenya 16 called M-Akiba aimed at promoting savings and investment by Kenyans. These new mechanisms represent only a few ways in which smart contracts on blockchain cryptocurrencies could develop new accountable funding streams and transform global health financing.
With advancements in interoperability, blockchain smart contracts could tie the purchase of large capital items to registration on parallel linked supply chain and inventory management systems, preventing fraud and corruption by ensuring that grant funds go to the intended capital goods purchases and those goods are delivered to the intended recipients; and, it is likely that this emerging technology will only make multistakeholder-funded projects easier to execute and monitor with trusted accountability as funding rules are prebuilt into smart contracts at the outset.
Blockchain-based systems could pave new paths for transnational healthcare capital markets, decentralised venture capital projects, distributed funding, microfinance and microinsurance across the globe in healthcare development. In addition, blockchain has the potential to revolutionise healthcare financial transactions, ranging from insurance verifications, to payment methods, to transnationally crowdsourced global funding.
Under current data mechanisms, transactional processes are slowed by data reconciliation and user verification, which leads to significant delays and waste for all parties involved.
Furthermore, the inability to interrogate and cross-verify health data under the current system opens up an abundance of opportunities for fraud, with some estimating that 7. Blockchain technology, however, is designed to create an immutable ledger which can serve as a permanent record of all transactions—resistant to tampering, hacking or rewriting. As a result, purpose-built data analytics can be applied to the chain in order to identify fraudulent activity while simultaneously accelerating transactions.
For example, today electronic prescriptions are directed to specific institutions, making it impossible to reconcile all records of pharmacies and electronic health records across institutions. This results in both waste and fraudulent claims. With an interoperable blockchain-based ledger, each institution could see all the events surrounding a particular prescription—from the writing to filling to refilling—removing all potentials for duplicity from the process.
Similarly, claims processing could be tied to actual generation of patient data, making fraudulent claims that lack associated results more difficult. Countries that have already created biometric identification databases are well positioned to leverage blockchain technology in healthcare. For example, in , India implemented the Aadhaar Card, a database that contains photographs and basic demographic and biometric data of over 1.
Using this verifiable, digital proof of identity, blockchain applications will be able to ensure that financial transfers and the delivery of goods and services reach the intended recipients and consumers, by creating blocks that contain these unique data such as an iris scan upon successful receipt of goods or services. With global trends towards creating similar centralised ID systems, the feasibility of using blockchain technology to build smart contracts, direct funding and prevent fraud becomes a reality.
Today, commodities and financial products are traded in an open and free market reaching around the world. Futures for oil, corn, precious metals and even carbon dioxide are traded by banks and individuals in all corners of the globe. With blockchain, the creation of a comparably open and transparent health data network is possible; and the creation of such a market offers the potential for both individuals and health systems to monetise the data they accrue figure 3.
Such health data, combining data from medical records, wearable devices, pharmacies and, increasingly, genetic and genomic data, stand to tell us more about human health than any major trial or series could. Efficacy of competing treatment algorithms for patients with cancer, and their likelihood of success based on factors not currently woven into treatment plans; implications of partial medication compliance on long-term health outcomes; and the optimised management of chronic diseases across wildly different populations, all stand to be elucidated by such data.
Presumably, the value of such data will ebb and flow over time, as more is learnt and better medications and treatment plans are optimised for various diseases and populations.
An open market would reflect the current value of health data, based on burden of disease and ongoing research. Moreover, blockchain creates the opportunity for medical information to remain the property of the patient, thus allowing an individual to opt in or out of given research studies.
This can be accomplished by using the above reference biometric data as a kind of private key, requiring researchers to gain approval and ascent from the patients before using their anonymised health data.
Moving health data from its current, protected status onto open, anonymised public ledgers will require a reorientation of thought and law in many countries. Notably, the use of mathematically derived pseudonyms is likely to run afoul of the regulation.
For LMIC governments, this type of data ownership, control and marketisation of health information could incentivise or promote investments in health system strengthening in exchange for access to national data.
Furthermore, as LMICs capitalise on their national health data for research and innovation, it is likely to drive down the value of data in HICs and create a more equitable global market for health data.
These market forces will drive down the costs of wearable devices, cellphones and other means for data collection, health monitoring and evaluation as research and innovation turns to LMICs, subsequently expanding LMIC access to monitoring and evaluation methods and giving them new focal points to target cost- effective national and local health interventions.
UHC and global health equity will not be achieved without first establishing more equitable access to capital markets and financing at all levels, from nation-state to patient-consumer.
Innovation in cryptocurrency and blockchain technology have the potential to dissolve transnational financing barriers and address issues facing equitable capital access including ease of use, accountability, transparency, monitoring and evaluation, corruption and fraud.
For blockchain to reach its full potential and help move the world towards health equity, the global health community and the global financial community must work together to help guide—not force, stifle or oppress—this process. Openness and accessibility are what make blockchain so unique and transformative.
To be clear, blockchain does not represent a silver bullet. There are many obstacles to be overcome before the potential highlighted here can be realised. First, as mentioned above, achieving appropriate regulatory guidelines for both financial transaction and medical information assimilation onto blockchain is imperative for legacy organisations to move more aggressively into this space.
Second, it is imperative that advances in blockchain technology not be limited to large, private companies, but rather remain as a fundamentally open-source technology. Third, the very size of health data pools—particularly imaging files—limits the feasibility of entire health records living on a blockchain.
Innovation into data management, such that tags linking full files to the chronological record built into the blockchain, will be imperative without a revolution of computational power. Finally, LMICs will also need assistance to realise the full potential of blockchain technology. For their parts, governments, healthcare organisations and consumers will need to become more familiar with how cryptocurrencies and the blockchain work.
Opening cryptocurrency accounts, verifying your identity, experiencing its security and transferring assets into these cryptocurrencies are all prerequisite steps towards participating in cryptocurrency capital markets and joining this next technological, financial and global health revolution.
Contributors All authors contributed to the manuscript in its entirety from conception, design, analysis and composition. Provenance and peer review Not commissioned; externally peer reviewed. Correction notice This article has been corrected since it first published. The middle initial of the last author is missing.
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She teaches a wide range of commercial law subjects. Her primary areas of research and publication are on blockchain technology, in particular, DAOs decentralised autonomous organisations , NFTs, the regulation of cryptocurrencies and legal issues surrounding smart contracts. For more background see here. Alex's legacy areas of research and publication are consumer law and intellectual property law in particular copyright law.
12 most popular types of cryptocurrency
As cryptocurrencies spread across the globe, so too do the regulations put in place to try and govern them. Learn how different nations approach coin and exchange regulation and if they have any upcoming legislation which could alter their approach to cryptocurrencies. Cryptocurrency exchanges: Legal, regulation varies by state. While it is difficult to find a consistent legal approach at state level, the US continues to make progress in developing federal-level cryptocurrency legislation. Meanwhile, the US Securities and Exchange Commission SEC has indicated that it considers cryptocurrencies to be securities, and applies securities laws to digital wallets comprehensively in an approach that will affect both exchanges and investors alike. The US Treasury has emphasized an urgent need for crypto regulations to combat global and domestic criminal activities. In , Treasury Secretary Steve Mnuchin announced a new FSOC working group to explore the increasingly crowded cryptocurrency marketplace and in December , FinCEN proposed a new data collection requirement for persons responsible for managing cryptocurrency exchanges, digital assets, DTLs, and crypto payments and on certain private digital wallets. The Justice Department continues to coordinate with the SEC, CFTC, and other agencies over future cryptocurrency regulations to ensure effective consumer protection and more streamlined regulatory oversight. However, with the Covid crisis hampering yet adding urgency to efforts to advance cryptocurrency regulation, the federal approach continues to be gradual.
Top 10 Cryptocurrencies In January 2022
Cryptocurrency has gone through endless metamorphoses in its short lifetime, and nowhere is this more apparent than in cryptocurrency price history. Analyzing crypto historical data gives a glimpse into the changing face of the industry. Taking a retrospective look at market cap data can quickly produce surprises, particularly for those who are relatively new to the space. Contrast that with the cryptocurrency list , and the scale of change that witnessed — due in no small part to the ICO phenomenon — is immediately apparent. A similarly wild variation can be found when looking at the cryptocurrency list , which saw the price of Bitcoin and altcoins alike plummet at different times.
Demystifying Cryptocurrencies, Blockchain, and ICOs
Many businesses such as Canadian online casino already accept Bitcoin as payment, which makes cryptocurrency a smart investment. For example, Visa transacts with Bitcoin. Plus, and the larger banks are beginning to incorporate Bitcoin transactions into their offerings too. Ethereum or ether is always in competition with Bitcoin. It is a decentralized blockchain platform that cuts out third parties.
REGULATION OF CRYPTOCURRENCY IN CHINA
He is a cryptocurrency enthusiast and founder of Coin Crunch India. How are millennials dealing with this new fad in investing? Naimish Sanghvi. Rupesh Firodiya, 28, comes from a business family that is into real estate broking in Pune. In November , he got drawn to the Bitcoin. After having invested Rs 1 lakh, he borrowed Rs 20 lakh from his parents and invested in Bitcoins and other cryptocurrencies through a company called Gainbitcoin. Later, he realised that the website was a fraudulent one — it even sold non-existent cryptocurrencies.
Bitcoin is a fraud that will blow up, says JP Morgan boss
The meteoric growth of global cryptocurrency markets presents novel challenges to regulators. Some policymakers and scholars warn that regulation will cause trading activity to cross borders into less-regulated jurisdictions—or even smother a promising new financial asset class. Others believe regulatory actions will stimulate activity by providing clarity to market participants. Standing behind this disagreement is a debate about the desirability of either outcome.
The future of cryptocurrency regulationRELATED VIDEO: Top 3 Crypto to Buy in February 2022 (HUGE Potential)
ICOs typically involve the issuance of digital tokens, created and disseminated using distributed ledger or blockchain technology. ICO scheme operators may promise buyers of digital tokens that the proceeds of an ICO will be used to fund development of a digital platform or related software which the token holders can subsequently access. Some token holders expect to make a return on their investment by reselling on the cryptocurrency exchanges. For example, an issuer may repay token holders the principal of their investment on a fixed date or upon redemption, with interest paid to token holders.
The top cryptocurrencies are attracting investors looking to diversify their portfolios. Now many growing companies are accepting cryptocurrencies as legitimate means of payment, now is a good time to invest in cryptocurrencies based on your budget. Here's a guide to help you figure out which coins are the best to invest in now. Here are some inexpensive coins that appear to be decent investments in , as there are a lot of choices for the cheapest Altcoins with potential. Although Bitcoin remains the most popular cryptocurrency , there are many others on the rise that smaller investors should consider. Here are ten Bitcoin alternatives to consider.