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.
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.
- Global: investors can buy contracts from anywhere in the world without needing to visit the farm
- Payments are made in bitcoins further enhancing efficient payments anywhere.
- For farmers, futures contracts reduce the uncertainty about the selling price which may drop significantly and they end up making losses.
- Farmers also get the necessary financing to enable them to fulfil their obligations
- Smart contracts: the making of a futures contract will involve smart contract which self-executes whenever the terms are met, reducing human error.
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.
SafeEarth Donates $100,000 to TheOceanCleanUp Kicking Off Blockchain Eco Project
Bitcoin Press Release: Blockchain eco project SafeEarth has donated over $100,000 to TheOceanCleanUp charity with more donations planned for other global charities.
16th April, 2021, London, UK — SafeEarth, a blockchain eco project, has donated over $100,000 to community selected charity TheOceanCleanUp. The donated funds will help towards the removal of plastic waste from the planet. This generous donation represents the first act of SafeEarth’s continuing initiative to help charities across the globe.
The money was raised from SAFEEARTH token transaction fees. From each token transaction a portion of the fees will continue to be used for further donations to charities that focus on green initiatives as SafeEarth looks to effect a lasting and positive change on the planet.
The Ocean Cleanup Head of IT Steven Bink offered his thanks to Safe Earth on Twitter, stating:
“Dear SafeEarth community. On behalf of the entire crew at The Ocean Cleanup, I would like to thank you for this very generous donation. We are also honored that you chose The Ocean Cleanup to be the first charity to receive this gift from @SafeEarthETH”
Safe Earth & Earth Fund
Deforestation, pollution, global warming and many other factors have had an adverse effect on the environment for decades. As the world shifts more towards renewables and eco-friendly alternatives, initiatives like that of Safe Earth represent a changing mentality in industry
SafeEarth’s sole focus is to generate capital and build a community which is able to repair the ecological damage done to the planet. Safe Earth also collaborates with another green charity called The Earth Fund, which has raised around 50 ETH ($125,000 at the time of writing) to be used for similar causes.
As a part of their plan to raise awareness for ecological causes SafeEarth have also started a #PlasticChallenge on twitter, which urges people to get rid of plastic waste. The challenge (which launched on 27th of March) rewards users from a prize pool of $3,600 in SAFEEARTH tokens.
In the short time since the challenge began the SAFEEARTH token has been listed on the number one DEX Uniswap, recorded $3 million in trading volume and locked away more than $1.5 million in liquidity.
SAFEEARTH Token Burn & Benefits
The SAFEEARTH token is a deflationary asset that uses an autonomous yield and liquidity generation protocol. Each transaction charges a total of 4% in fees, which is then broken up evenly with 1% going to charities, 1% refunded to holders, 1% for advertising and 1% token lock-ups to increase liquidity. By burning at least 50% of the total supply after launch, (which will go to a black hole address) SafeEarth ensures increased token scarcity and liquidity.
$SAFEMARS is the sister token to SafeEarth and available on PancakeSwap exchange. The token uses very similar tokenomics to SAFEEARTH and over 50% of the tokens have already been burned. As none of the transaction fees from SafeMars go towards charity the company has chosen to give more back to users, with a total of 2% going instantly back to the holders wallets and the other 2% is auto-locked to increase scarcity and liquidity. Right now the number of $SAFEMARS holders is growing steadily with 93,699 holders at the time of writing.
Save Earth Through Safe Earth
Harnessing blockchain technology through it’s unique protocol in the interest of both charitable giving and community incentives is helping SafeEarth to stand out from its competition. This $100,000 donation is just the beginning of the company’s mission to effect a lasting and positive change to the planet.
SafeEarth blockchain eco project is already gearing up for another large donation with another 35 ETH (roughly $87,600) reserved for 5 charities that focus on humanitarian causes, such as access to clean water and wildlife preservation. The charities will be chosen by the SafeEarth community and will be announced on Earth Day, April 22nd, 2021.
Media Contact Details
Contact Name: Bitcoin PR Buzz Press Team
Contact Email: firstname.lastname@example.org
Learn more about SafeEarth — https://safeearthcrypto.com/
Buy SafeEarth Coin on Uniswap — https://app.uniswap.org/#/swap
Take off with SafeMars — https://www.safemarscrypto.com/index.html
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SafeEarth is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest.
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Did Elon Musk’s ‘jet fuel’ set GameStop (and Bitcoin) ablaze?
Depending on where you stand on the GameStop saga, which saw organized retail traders extract $6 billion from Wall Street overnight, you may think someone should either take the matches away from Elon Musk, or give him more.
The CEO and “Technoking” of Tesla was accused of pouring “jet fuel” on the GameStop short-squeeze at a critical moment by hedge fund manager David Einhorn, founder of Greenlight Capital, in a letter to investors published Thursday.
Einhorn said Elon Musk and venture capitalist Chamath Palihapitiya were the real instigators behind the short-squeeze, claiming both had supplied “the real jet fuel” for the pump with their tweets and TV appearances.
“We note that the real jet fuel on the GME squeeze came from Chamath Palihapitiya and Elon Musk, whose appearances on TV and Twitter, respectively, at a critical moment further destabilized the situation,” wrote Einhorn, according to Markets Insider.
Amid the orchestrated short-squeeze on GameStop by redditors on r/WallStreetBets, Elon Musk tweeted what some interpreted as his support for the endeavor. On Jan. 26, shortly after GME stock was pumped 91% in a single day, Musk tweeted the phrase “Gamestonk!!” accompanied by a link to the WallStreetBets sub-reddit.
Over the course of the next 24 hours, GME stock soared 134%, climbing from a unit price of $147 to $347. The following 24 hours brought even more fireworks, and by Jan. 28, the value of GameStop shares had hit an all time high of $483 — an 18,693% increase on the stock’s value just nine months earlier.
Chamath Palihapitiya appeared to voice his support for the short-squeeze on Jan. 27, when he told interviewers on CNBC that the GameStop saga was an example of the man on the street pushing back against the man on Wall Street.
Einhorn said that “quasi-anarchy” now reigns, based on what he sees as toothless regulation of the stock market. Einhorn compared the situation, where “the laws don’t apply to [Elon Musk]” to the defunding of the police force.
“Many who would never support defunding the police have supported — and for all intents and purposes have succeeded — in almost completely defanging, if not defunding, the regulators,” said Einhorn.
Previously Elon Musk was suggested to have unduly influenced the cryptocurrency market with his vocal support of Bitcoin (BTC) and Dogecoin (DOGE) via Twitter. Legal professionals suggested in February that Musk’s tweets may have acted as a catalyst for the coins’ gains at the time, and warned that such tweets could attract SEC attention.
Musk laughed off the suggestion at the time, claiming that he would welcome any SEC investigation into his tweets, and that he simply liked “dogs and memes.”
Turkey to ban cryptocurrency payments
A new ban in Turkey will prohibit crypto holders from using their digital assets for payments, in addition to preventing payment providers from adding funds to their digital wallets at crypto exchanges.
According to a Friday announcement by the Central Bank of the Republic of Turkey, the ban will come into effect on April 30, rendering any crypto payments solutions and partnerships illegal.
The bank stated, “any direct or indirect usage of crypto assets in payment services and electronic money issuance” will be forbidden.
While banks are excluded from the regulation, which means users can still deposit Turkish lira on crypto exchanges using wire transfers from their bank accounts, payment providers will be unable to provide deposit or withdrawal services for crypto exchanges.
Payment providers and digital wallets are widely used in Turkey to transfer fiat funds to crypto exchanges and vice versa. Major global exchange Binance partnered with local payment provider Papara when they first entered the Turkish market to provide a lira onramp for several different cryptocurrencies.
This new regulation means that users have two weeks to clear their balances if they exclusively use payment providers as fiat-to-crypto gateways.
Historically, the Turkish government has always had a tight grip on the payment ecosystem. In 2016, Turkey banned major global payment provider PayPal in the country.
Crypto regulation is a hot topic for Turkey in recent months. Last month, the Turkish Ministry of Treasury and Finance announced that they are monitoring the crypto ecosystem and working with the Central Bank, Banking Regulation and Supervision Agency, and Capital Markets Board to regulate crypto.
Additional reporting by Cointelegraph Turkey’s Emre Günen.
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