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PLAAS to launch FUTURES platform for farmers

PLAAS, the leading blockchain platform for African farmers is currently working on launching a futures platform that will create a better market for farmers and their produce.  A futures contract is an agreement to buy or sell a certain commodity/asset or security at a pre-determined price and date in the future. Futures contracts exist in […]

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PLAAS, the leading blockchain platform for African farmers is currently working on launching a futures platform that will create a better market for farmers and their produce.  A futures contract is an agreement to buy or sell a certain commodity/asset or security at a pre-determined price and date in the future. Futures contracts exist in various commodity markets as a way of managing risk while betting on the future price of the underlying asset. Oil, natural gas, maize, gold, are among assets that have futures contracts.

PLAAS Futures involves enabling farmers to sell their farm products at a specific price and date in future.

PLAAS FUTURES Community

The Futures platform will have a community of developers, validators, farmers, investors, and merchants. The validators will play a role in formation and scanning existing futures contracts to ensure they are valid. A validator earns PLAAS tokens every time they validate a contract. In this case, the validators act as miners. When a farmer opens a contract anyone can close it.

Before a contract matures, the validators will ensure all the terms of the contract have been met and payouts made as per the contract. Payouts to the farmer will be made in stages and the items are received by the contract owner when it matures.

Investors buy the futures contract and become the owners of the contract and the contracts are paid for in Bitcoin. For example, there could be eggs futures contract whereby a farmer promises to sell 50 trays of eggs at PLAAS 8 at a future date (30 June). An investor can enter this contract buy paying half the amount of the money required in BTC and these BTC are then immediately changed to PLAAS to activate the contract.The farmer immediately gets the initial payment. At the delivery (contract maturity) investors close the contract and gets the profits.

Contracts are made in PLAAS token while investors close contracts via bitcoin. The investor closes the contract with the expectation that when the future contract matures he/she will be able to make a profit out of the funds he invested in the farmer.

Characteristics of the PLAAS futures contract

PLAAS Contracts are non-fungible meaning tokens are different from each other and each contract is created only when a farmer opens the contract. The contract remains open and when an investor closes it, it is transferred to their wallet.

All contracts will be available on the PLAAS website. Farmers’ interaction with the platform will be through a mobile app for updates and payments.

More certainty for farmers 

With PLAAS futures, farmers get the assurance of a ready market for their products or animals. They also get better certainty in selling their produce at a specific price.

Validators visit the farm and set up RFDI and form a futures contract. There will be SMS updates for farmers on the progress.

Network of validators 

As the platform expands, there will be a network of validators working directly with farmers on the ground. Those wishing to become validators are able to buy a node from PLAAS and serve a certain region based on their capabilities. PLAAS centres will be in various locations adopting agency type of model.

Currently, the PLAAS development team is working on the hardware that will make up the nodes. As long as you buy the node, you will be able to take part in PLAAS futures as a validator. Not your hardware, not your node.

PLAAS tokens are earned 

Instead of giving tokens freely or buying them, they will be earned (mined) by validators. They can then later be traded on exchanges. Furthermore, open contracts can be re-sold before delivery is made.PLAAS is an internal utility token that makes the plaas network complete. It is a token to help smartcontract work,to pay developers,earned by node validators and earned by farmers and used by farmers on the PLAAS farmers market where they can buy and sell agricultural goods.

Future developments 

PLAAS has already conducted successful tests in Kenya with farmers and this is forming the basis for making validator nodes.

PLAAS futures will also be insured. PLAAS will partner with various insurance providers to safeguard the contracts in case of defaults on open contracts.

Overall, PLAAS futures has various advantages for farmers, investors, merchants, and validators.

  1. Global: investors can buy contracts from anywhere in the world without needing to visit the farm
  2. Payments are made in bitcoins further enhancing efficient payments anywhere.
  3. For farmers, futures contracts reduce the uncertainty about the selling price which may drop significantly and they end up making losses.
  4. Farmers also get the necessary financing to enable them to fulfil their obligations
  5. Smart contracts: the making of a futures contract will involve smart contract which self-executes whenever the terms are met, reducing human error.

About PLAAS 

PLAAS is a satoshicentre project, a leading bitcoin and lightning community hub in Botswana. Alakanani Itireleng, the bitcoinlady is the founder of Satoshicentre and co-founder of PLAAS. Alakanani is one of the foremost bitcoin and blockchain advocates in Africa. She is well known for supporting and promoting bitcoin awareness in Africa since 2013 and working with numerous successful projects at satoshicentre. She has spoken at various conferences in Europe, North America, Russia and throughout Africa.

Farmers in Kenya and Botswana will be able to take part with expansion to other countries in Africa being undertaken later.  You can check out more details about PLAAS Futures PLAAS whitepaper.

Source: https://coinweez.com/plaas-to-launch-futures-platform-for-farmers/?utm_source=rss&utm_medium=rss&utm_campaign=plaas-to-launch-futures-platform-for-farmers

Blockchain

European Central Bank’s president calls for greater regulation of bitcoin.

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According to the Reuters report, the European Central Bank president Christine Lagarde has called for greater regulation of bitcoin and other cryptocurrencies. She linked the use of cryptocurrencies with global criminality and money laundering. ECB chief Lagarde said the digital currency was increasingly being used by criminals worldwide to cover their tracks online and launder money beneath the authorities’ detection. She said criminals are relying on BTC and patchy regulation to move illegitimate money without oversight or supervision.

ECB President calls for more urgency around the global regulation of crypto.

ECB president called for more urgency around the crypto sector’s global regulation and more effort to develop common standards to prevent criminals from abusing digital currencies as a backdoor to money laundering and other nefarious activities. Highlighting the “funny business” going on in BTC markets, Lagarde described cryptocurrency criminality as “totally reprehensible.” “BTC is a highly speculative asset, which has conducted some funny business and some interesting and reprehensible money laundering activity,” she added. Currently, crypto regulations remain in a grey area in most countries, but regulators are catching up gradually. 

Crypto regulations begin to tighten up after bitcoin’s massive rally. 

The most notable example of crypto regulation has been in anti-money laundering, with exchanges and other crypto services now adhering to standardized AML requirements. The news coincides with a rally in BTC prices in recent months, spurred on by an increasing mainstream interest in BTC tokens. This has led to further calls for regulation worldwide, amid fears that more speculators could end up losing all of their money. Combined with soaring rates of fraud and concerns over money laundering and other criminality running through BTC, Lagarde said the time for light-touch regulation of the digital asset was over.

Source: https://coinnounce.com/european-central-banks-president-calls-for-greater-regulation-of-bitcoin/

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Why this on-chain analyst thinks Bitcoin whales aren’t institutions

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While most had high expectations from the crypto-market for the year 2021, it’s safe to say that the market has well and truly exceeded these expectations. Not only did the world’s largest cryptocurrency, Bitcoin, breach the $40,000-mark, but the industry’s cumulative market cap also went past $1 trillion.

Source: CoinMarketCap

The market and its largest cryptocurrency’s movements make for interesting reading, especially when its charts are observed. In fact, price charts noted an almost vertical movement by Bitcoin, suggesting that this bull run has far outpaced the bull run of 2017.

In such a case, the common perception is that the reason Bitcoin has seen such immense buying power is because a majority of this buying has come from institutions. The same sentiment was highlighted recently by Anchorage Co-founder Diego Monica who, while noting that institutions have more tolerance for volatility and are professional investors, said,

“This rally is absolutely followed and made by the institutions.”

As a result of this, investing in Bitcoin becomes less about following a fad and more about making an allocation to an uncorrelated asset class for purposes relating to capital preservation and appreciation. In fact, many have suggested that at current price levels, Bitcoin might even be too expensive for non-institutional investors to enter the market.

However, on-chain analyst Willy Woo isn’t so sure that this bull run is solely institutionally-driven. On a recent episode of the Unchained podcast, he said,

“We thought it would be, and right now the thing is, I don’t actually think that it is.”

According to Woo, Bitcoin’s bull run is being driven by the institutional narrative of institutions getting behind the idea of Bitcoin and crypto. While institutions have been suggesting that they are going to deploy funds, the majority of them are still yet to do so, he added.

In fact, it may be this validation from institutions that brought in many high net worth investors to this space, with family offices buying in at higher price levels.

Woo explained that a combination of things has contributed to his certainty about family offices making capital allocations towards crypto, including first-hand conversations with people in the space disclosing their intent to do so.

That being said, the main part of such certainty comes from his observation of capital flows on-chain. He explained that the value of withdrawals on exchanges is increasing, which at first glance, seemed to signify that institutions are present. However, a closer examination of clusters of wallet addresses pointed to the fact that a single entity controls multiple addresses.

“It’s not corporation scale where you’re talking tens of thousands of Bitcoin that are being held,” he claimed, adding, “The number of whales holding thousand Bitcoins or more is skyrocketing, and so are the smaller allocations of around 100 and 250.”

Source: https://ambcrypto.com/why-this-on-chain-analyst-thinks-bitcoin-whales-arent-institutions

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ETH Price Analysis [WoW]: Ethereum Price Trading at key Pivot, Oscillators Indicate Strong Momentum Despite Overbought Conditions

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  • ETH price breaking key weekly resistances and confirming them as support.
  • Breach of ETH price discovery is to be backed with increasing volume.
  • Oscillators suggesting strong momentum still present despite overbought conditions.

ETH price is currently trading at a true pivot where a bullish weekly candle close will greatly increase the probability of breaking into price discovery. Price action has been making consecutive higher highs and higher lows since it’s March 2020 Bearish Expansion. The projection remains bullish until proven as this is a strong weekly uptrend.

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ETH Price Analysis: Weekly Chart 

ETH price Analysis weekly
ETH price Analysis weekly

Preluding to the chart above, a strong uptrend is evident with continuous acceleration leading to a potential parabola. The 21 MA has provided a reliable Dynamic Support that has led to a strong Bullish Volatility Expansion from the lows. 

Key Weekly S/R levels have been breached with conviction; price action has confirmed S/R Flip retests along the way with further Bullish Volatility Expansions. ETH price trading in such a volatile range is deemed to have strong swings thus evidently, the volume profile has been increasing. 

Volume influxes are a key indication of a strong uptrend as bullish volume follow through is what drives price action. As evident on the chart, there has been a Volume Climax Node. Bearish volume is still below average as the current weekly candle trades open. For further follow through, an influx in volume is required to break the All-Time High with persuasion. 

The current shape of the weekly candle is of a Bullish Hammer; however, this is not confirmed until an official close. There has been a strong buy-back from the S/R Flip Retest which is indicative of strength. The next weekly candle open will be deemed telling of the overall direction of the trend. 

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Now holistically assessing the oscillators, momentum is still intact with the bulls, epically how the stochastics have been behaving.  

ETH Price Analysis: Weekly Stochastic oscillator

ETH price Analysis weekly: Stochastic oscillator
ETH price Analysis weekly: Stochastic oscillator

As evident, each and every bull cross has led to a substantial Bullish Volatility Expansion in price action. The stochastic helps to monitor momentum in the prevailing trend. It can remain trading in overbought regions for an extended period of time, epically in a strong up trend. Ethereum has an immediate Bull Cross coming to fruition, this will be confirmed on the next weekly candle close. Holding true will store momentum for the break of the All-Time-High. 

ETH Price Analysis: Weekly Relative Strength Index [RSI]

ETH price Analysis weekly: RSI
ETH price Analysis weekly: RSI

Furthermore, observing another key oscillator is the RSI that is responsible for measuring the speed and velocity of price action. Preluding to the image above, Ethereum’s RSI is considered to be in overbought regions however back testing swing high. This is considered to be very bullish if respected, breaking down will mean a reversion in price action. As long as the RSI and Stochastics maintain their respective bullish control zones, ETH price will remain very bullish as it comes close to price discovery, 

What to Expect for Weekly ETH Price ?

In conclusion, Ethereum price remains quite strong as it is approaching its All-Time High. Price action has been maintaining consecutive higher highs and higher lows. This next weekly candle close will be highly indicative of the overall direction. Both key oscillators are suggesting that the momentum is stored with the bulls. A true break is likely to be backed with increasing volume as price action enters price discovery. 

Hope this article helps in the preparation for the next volatility expansion in Ethereum. Follow us at tradingview for more in detail crypto price analysis. 

To keep track of DeFi updates in real time, check out our DeFi news feed Here.

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Source: https://coingape.com/eth-price-analysis-weekly-price-oscillators-suggest-strong-moomentum-overbought/

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