PR: Nexty Platform – a Breakthrough for E-Commerce and Retails

Nexty Platform - a Breakthrough for E-Commerce and Retails

This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. does not endorse nor support this product/service. is not responsible for or liable for any content, accuracy or quality within the press release.

The emergence of cryptocurrency has opened new vistas for the fintech industry. However, issues of high transaction fees, delays in completing coin transfers, as well as wild price swings continue to plague the emerging cryptocurrency landscape. Nexty is a blockchain platform that promises instant transfers at zero fees and smart staking & smart holding program to hedge against the volatility of cryptocurrencies.

Although blockchain and cryptocurrency has been regarded as one of the future revolutions, there still exist certain issues namely significantly high transaction fees as well as long waiting time for the completion of transactions.

While these fee values do not necessarily represent a major issue for transfers involving larger amounts, they are a major limitation for daily commerce and payments. Transfers of such nature typically do not go beyond a few dollars at a time.

Nexty, a blockchain startup, believes it now has the solution to this and other problems faced by digital currencies currently on the market. It boasts zero transaction fees, which immediately makes it the superior choice for daily use. Furthermore, Nexty transfers can be completed and confirmed within a few seconds. The Bitcoin network, on the other hand, can take as long as an hour to verify that a payment has indeed been made.

Nexty also addresses the issue of price fluctuation with a feature named Smart Staking that automatically regulates supply and demand to maintain a stable price. The platform will effectively incentivize its users to either sell, buy or hold Nexty tokens (NTY) depending on current market conditions. Nexty has set aside a total pool of 5.4 billions NTY to be used for this purpose alone.

When the pool is eventually depleted, Nexty plans to introduce a feature called Smart Holding in order to reward holders of NTY tokens. The program is open to anyone holding at least 1,000,000 NTY tokens in a single wallet and is willing to lock in their balance over a three month period. Individuals that decide to participate will be rewarded with a range of benefits, including the ability to vote, receive discounts and gain access to certain luxury services. They will also receive airdrop tokens from ICOs hosted on the Nexty platform over a period of 12 months. The development team believes these benefits will encourage users to stay within the ecosystem.

NTY tokens can currently be purchased on IDAX and Coinbene cryptocurrency exchange. Nexty has also released initial versions of its mobile wallets for Android and iOS.


Further details about the platform are available here: Website | Telegram

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Bitcoin in Brief Wednesday: Zug Tests Blockchain to Decide on Fireworks and Digital IDs

Bitcoin in Brief Wednesday: Zug Tests Blockchain to Decide on Fireworks and IDs

The city of Zug, home of the Swiss Crypto Valley, will invite its residents to take part in an experimental blockchain-based vote. They are expected to share opinions on several questions of local importance, including the fireworks display during the annual Lakeside Festival and the use of digital IDs to borrow books and pay parking fees. This and other fintech and crypto-related stories from the Alpine nation and other corners of Europe are featured in today’s edition of Bitcoin in Brief.   

Also read: Bitcoin in Brief Tuesday: POT Saves World, Coinbase Pumps ETC, Binance Wants EUR

Zug Experiments with Blockchain-Based Vote

Bitcoin in Brief Wednesday: Zug Tests Blockchain to Decide on Fireworks and IDsAuthorities in the Swiss city of Zug plan to ask local residents to participate in a consultative blockchain-based vote this month utilizing the city’s electronic ID system. They will be able to vote via their smartphones by downloading and installing an app. The experimental vote will be held between June 25 and July 1. Citizens will be asked if they are in favor of setting alight fireworks during the annual Lakeside Festival, and whether they think digital IDs should be used to borrow books from the library, pay parking fees, and for identification on regular referendums.

According to Swissinfo, the results of the vote will be non-binding. Nevertheless, the initiative, which aims to test whether blockchain can be used on a broader scale, highlights again the positive attitude of Swiss authorities towards cryptocurrencies and the underlying technology. The canton of Zug, dubbed Switzerland’s Crypto Valley, has become home to many fintech startups and even established crypto companies like the Chinese giant Bitmain, which has opened an office there.

Bitcoin in Brief Wednesday: Zug Tests Blockchain to Decide on Fireworks and IDsFor some time now, Zug has been accepting cryptocurrency payments for municipal services, including company registrations using bitcoin and ether. The city introduced its eID system to provide citizens with digital access to council services. The pilot phase of the project started last fall. The system is based on blockchain technology.

New Swiss Body to Simplify Capital Markets

In another example of Switzerland’s serious approach to fintech innovations, leading representatives of the country’s financial, technological, academic and legal sectors have recently formed the new Capital Markets and Technology Association (CMTA) to facilitate the use of blockchain in financial markets. In a press release, they noted that “the blockchain technology has the potential to reduce the complexity of the capital markets system and lower the barrier of entry for startups.”

According to CMTA’s founders, the lack of legal certainty is slowing and can potentially compromise development in the field. They hope to facilitate access to funding for new businesses by defining a set of industry-supported open standards. These should ultimately contribute to value creation throughout the economy said Jacques Iffland, CMTA’s chair and partner at Lenz & Staehelin, the largest Swiss law firm.

Bitcoin in Brief Wednesday: Zug Tests Blockchain to Decide on Fireworks and IDs

Swissquote Bank Ltd, a leader in online banking, and Temenos, which specializes in banking software, are also behind the initiative. CMTA promises to work to create toolkits that can be used by new or established companies, businesses and startups to access funding and raise capital securely and efficiently, using new technologies and leveraging digitalization. The association is based in Geneva.

Irish Blockchain Startup Delivering Aid to Refugees Raises €1m

Bitcoin in Brief Wednesday: Zug Tests Blockchain to Decide on Fireworks and IDsAn Irish startup, using blockchain to facilitate the distribution of humanitarian aid, has raised an estimated €1 million from investors, according to industry sources quoted by The Irish Times. The Dublin-based Aid:tech is working in refugee camps, often in hotspots like the Middle East. On Wednesday, Enterprise Ireland and SGInnovate, the venture capital arm of the Singaporean development authority, announced simultaneous investments in the Irish company. This is the first time both state-backed organizations have allocated funds to support a blockchain business, the Irish daily notes. Amsterdam-based Blue Parasol Investments and Tin Fu Fund, a closed private equity fund managed by Shenzhen Capital Group, also took part in the funding round.

Aid:tech aims to increase transparency in the distribution of aid, welfare, remittances, donations, and healthcare services through digitizing their delivery using blockchain technology on its platform. According to the company, only a fraction of the estimated €306 billion (~$360 billion) transferred each year by non-governmental aid organizations is currently delivered via transparent systems which, the startup claims, are extremely expensive to administer. The blockchain technology employed by the Irish firm would allow all international aid to be accounted for, including the distribution of medicine, food and other essentials, the publication details.

Government-Backed Platform to Promote Ireland as a Blockchain Hub

In an attempt to highlight Ireland’s capabilities in the blockchain ecosystem, authorities in Dublin have launched a new government-backed platform. Blockchain Ireland, founded in partnership with a young company called Consensys, aims to create conditions for greater cooperation between startups working in the sector, both on national and international level. The platform was launched by the Irish Blockchain Expert Group and backed by Enterprise Ireland, the Irish Department of Finance, leading members of the country’s blockchain industry and representatives from a number of academic institutions.

Bitcoin in Brief Wednesday: Zug Tests Blockchain to Decide on Fireworks and IDs

The online platform is a source of useful information about the Irish blockchain ecosystem. It will be used to promote the country as a blockchain hub by highlighting the Irish technology sector and business environment which turn Ireland into an ideal location for blockchain-enabled business, Silicon Republic reports. The services it will be offering include providing information on setting up a new company and support for blockchain projects in Ireland. Its activities, however, will stretch beyond Irish borders. Blockchain Ireland will be working to develop the European and international blockchain ecosystem as well.

What are your thoughts on today’s topics in Bitcoin in Brief? Let us know in the comments below.

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The Daily: Swiss Vote on “Sovereign Money”, Russian Banker Against Crypto Ban

Bitcoin in Brief Saturday: Switzerland Votes on “Sovereign Money” Referendum, Russian Banker Warns Against Crypto Ban

Swiss voters will decide this Sunday whether to turn back on fractional-reserve banking and support a “sovereign money” concept for the nation’s finances. Proponents of the initiative prescribe deeper centralization to remedy the shortcomings of the traditional financial system – a vision quite different from the decentralization that came with cryptocurrencies like bitcoin, following the 2008 global financial crisis. In today’s Bitcoin in Brief, we also cover a statement by a prominent Russian banker who warns that tight crypto regulations would hamper the development of blockchain technologies.

Also read: Bitcoin in Brief Friday: Bitpanda Offers New Coins, Microsoft Dips Data Center in the Sea

Switzerland Decides Fate of Fractional-Reserve Banking

Decentralization vs deeper centralization – the two alternative visions on how to respond to the 2008 financial crisis have been competing for attention and support in the past decade. The first strategy has been at the core of the crypto revolution. It is the remedy prescribed by both the growing global bitcoin community and the supporters of the small government/low taxes concept, like the followers of the Tea Party movement in the U.S. The proponents of the second approach have advocated granting more power and even greater responsibility to centralized financial authorities.

Bitcoin in Brief Saturday: Switzerland Votes on “Sovereign Money” Referendum, Russian Banker Warns Against Crypto Ban

On Sunday, June 10, Swiss voters will be asked to support “Vollgeld,” a radical reform aimed at further centralizing financial authority in the hands of the country’s central bank. On the “sovereign money” referendum, the Alpine nation will decide whether to ditch the fractional-reserve banking system, which allows banks to create money by lending far more than what they hold in deposits, Quartz reports. The proposal is to give the Swiss National Bank a monopoly over this function, while commercial banks will be required to lend only what they have.

The initiative would centralize money creation at the central bank, but also concentrate there the corresponding profits and the decisions on who should or shouldn’t receive loans. Its opponents claim that the referendum is a populist response to the previous financial crisis and warn that if it succeeds, that will lead to a new crisis and even spark Brexit-like panic in the country’s huge banking sector. This, however, is an unlikely result. The predominant expectations are that Swiss citizens will vote for more of the same, until the next crisis.

Bitcoin in Brief Saturday: Switzerland Votes on “Sovereign Money” Referendum, Russian Banker Warns Against Crypto Ban

In recent years, Switzerland has become a crypto-friendly jurisdiction, where many crypto businesses are headquartered or represented. The Chinese mining giant Bitmain opened a branch there, and one of Russia’s largest banks, Gazprombank, announced plans to test cryptocurrency deals in the Alpine confederation. The country has established a crypto valley in the canton of Zug and has been formally considering the possibility to issue a state-backed cryptocurrency.

Banker Warns, Tighter Crypto Regulations Will Hurt Blockchain Development

Bitcoin in Brief Saturday: Switzerland Votes on “Sovereign Money” Referendum, Russian Banker Warns Against Crypto Ban
German Gref (right)

A ban on cryptocurrencies on state level would endanger the development of blockchain technologies and prevent the disclosure of the full potential of digital currencies, according to German Gref, a prominent banker and former minister of economy and trade of the Russian Federation. Although he admits he does not use cryptocurrencies, Gref notes that he considers them a source of financing for the blockchain development. In April, he said the technology was still “unripe and overvalued.”

German Gref is the president of Sberbank, which is the largest bank in Russia and among the biggest in Europe. Earlier this year, reports suggested that Russia’s “savings bank” was planning to circumvent local regulations and offer clients overseas crypto-trading services.

Gref also shared his opinion that the majority of countries do not recognize cryptocurrency because of its decentralization. “No state will part with the monopoly on money issuance. Most governments believe that cryptocurrency is a property and, like any other property, must be taxable,” he said, quoted by Kommersant, a leading Russian business daily. The banker also cautioned that investing in digital assets is associated with high risks.

New Telegram Trading Bots Announced

The Intelligent Trading Foundation (ITF), a developer of an artificial intelligence-powered crypto trading assistant, has announced two new trading bots for Telegram. They will provide users with important trading signals and notifications about market opportunities.

Bitcoin in Brief Saturday: Switzerland Votes on “Sovereign Money” Referendum, Russian Banker Warns Against Crypto Ban The Intelligent Trading Bot, which comes with both free and premium subscriptions, sends users trading signals and suggest strategies based on technical analysis signals such as Simple Moving Average, Relative Strength Index and Ichimoku Cloud Breakout. The data covers hundreds of cryptocurrencies, offering traders valuable insight.

The other free option displays brief information about a specific cryptocurrency on request from the members of a Telegram Group that has enabled the service. The Intelligent Trading Infobot can be added to any group in the messenger, and will offer current price and trading volume data, as well as the latest trading alerts for hundreds of coins and pairs on three crypto exchanges.

What are your thoughts on today’s Bitcoin in Brief topics? Tells in the comments section below.

Images courtesy of Shutterstock.

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