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It has been a whirlwind year for the team over at Electroneum as they make moves to solve one of the worlds largest problems; getting the unbanked and less-fortunate people around the world access to life-altering opportunities that will change the global economy forever. Earlier this year Electroneum announced their mobile top-up initiative with South Africa, Turkey, and Brazil and have since expanded to Nigeria, Tanzania and Uganda with more to come soon. The crypto company has also announced their creation of a two-sided marketplace, AnyTask, that will function like the Fiver app via Electroneum payments in exchange of goods and services. Further, they will enable free e-learning for individuals to access in the third world in an effort to further pull people out of poverty. And with the near close-out to 2019, huge news continues to follow the coin as they announce bringing on David Bull; former Unicef CEO.

David’s role at Electroneum will center primarily around the initiatives happening on the ground in the developing world. Specifically; to ensure that Electroneum’s Fiver-like app, AnyTask, and their free e-learning platform, TaskSchool, are successful in their mission of enabling the unbanked to escape financial exclusion; a feat viewed as a trillion-dollar opportunity by many experts. Electroneum CEO, Richard Ells recently said “we are very excited and privileged to have David Bull on our team. He is here to help further our vision to help millions of people in developing countries and to broker deals with corporations and the most successful organizations in the world.” The excitement was shared by Bull as well who said Electroneum “is an ecosystem of initiative working in innovative, dynamic and creative ways to bring digital and financial inclusion and better and more sustainable livelihoods to those who are left behind…this seems to be just the kind of innovation which can help ensure that by 2030 noone is left behind, unconnected and financially excluded.” 

Bull served as the Executive Director for Unicef UK from 1998 through 2016. Under his leadership, the UK’s chapter of the UN’s International Children’s Emergency Fund became one of the most game-changing initiatives in it’s space; developing rich and lasting partnerships amongst private sector corporations. It was during that time at Unicef that Bull’s influence greatly assisted in the organization’s volunteer income growth from £13 million at the start of his duties to well over £100 million by 2016. David has done amazing work over the course of his tenure at Unicef and Amnesty International which enabled drastic improvements to the lives of the less fortunate and the communities they live in, all through sustainable development initiatives. In July of 2016 Mr. Bull left Unicef UK to journey into the world of independent consulting for purposes of educational and international development of non-governmental organizations (NGOs)

It makes a lot of sense that Electroneum would be a great place for Bull to make further impacts on the unbanked world, and the organization is privileged to have him on their team. Mr Bull recently wrote a blog article on November 22nd titled “Electroneum: A Cryptocurrency ecosystem with a Development Mission.” The article draws light to the UN’s SDG (Sustainable Development Goals) to “leave no-one behind” and targeting the year 2030 for achievement. He highlights that with only 10 years remaining to achieve this feat, over 2 billion people worldwide still remain far, far behind by not having access to financial institutions that would “allow them to earn, save and spend safely… 38% of the world’s population is ‘unbanked’ and they are disproportionately women and the poor.” Bull further shines light on the opportunities presented with the evolution of the “freelance economy” and it’s flexibility, as well as the shortcomings of past and present first-world initiatives at helping the unbanked. He then goes into Electroneum and praises the system for their initiatives towards transparency, compliance, NGO-centered mining process, as well as their 50 dollar smartphone which gives online access to people in developing countries.

Ultimately, David Bull’s goal is to help Electroneum to work with NGOs and communities to demonstrate how Electroneum’s model can really transform people’s lives who need it most via Electroneum’s current framework. He closed his blog article in saying [Electroneum] is an exciting project for me, and I am looking forward to learning from colleagues in the development world. This seems to me to be just the kind of innovation which can help ensure that, by 2030, no-one is left behind, unconnected and financially excluded, as the world changes around them.” It will be interesting to see what happens next with Electroneum and it’s global initiative in the years ahead.

Marcus Henry is an American Journalist with over 11 years working in the tech industry. He has been actively involved in the crypto community for the past three years and currently works out of Austin, Texas. He covers breaking news, writes perspective pieces and reflections, and conducts interviews with industry professionals and community members. Follow Marcus Henry on Twitter- @MarcusHenryHODL

Disclaimer: The information above does not constitute investment, financial, trading or any other sort of advice and you should not treat any of my content as such. I do not recommend the purchase, sale, or holding of any cryptocurrency or other product and nothing I write about should be deemed as an offer to purchase, sell, or hold a cryptocurrency or other product or service. Please do your own research and consult a certified financial professional before making any investment decision.

Marcus Henry , 2019-11-25 11:00:00 ,

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NewsBlock © 2019 - 2020 All rights reserved.

NewsBlock © 2019 - 2020. All rights reserved.

While Bitcoin’s price seemingly moves without rhyme or reason — collapsing by dozens of percent and embarking on face-melting rallies on a whim — the cryptocurrency market is filled to the brim with fractals.

Related Reading: Analyst: Bitcoin Price Likely to Fall to Low-$8,000s as Chart Remains Weak

A brief aside: A fractal, in the context of technical analysis and financial markets anyway, is when an asset’s price action is seen during a different time. This form of analysis isn’t that popular, but it has proven to be somewhat valuable in analyzing Bitcoin.

One recent fractal popularized by a well-known cryptocurrency trader is implying that BTC is going to return to the low-$7,000s in the coming days.

Bitcoin Fractal Implies Retracement to Low-$7,000s

A well-known crypto trader going by “Tyler Durden” on Twitter recently posted the chart below, which shows that a Bitcoin price fractal may be playing out. The fractal has four phases: horizontal consolidation marked by one fakeout, a surge above the consolidation phase, a distribution, then a strong drop to fresh lows.

If the fractal plays out in full, BTC could reach the low-$7,000s again, potentially as low as $7,100. This would represent a 20-odd percent collapse from the current price point of $8,800.

It isn’t only a fractal that is hinting Bitcoin has the potential to visit its lows. As we reported on Saturday, Bloomberg believes that if the GTI Vera Convergence Divergence Indicator flips red, a downtrend could push the cryptocurrency back to $7,300.

Related Reading: Stephen Colbert Pokes Fun at Bitcoin in Monologue: Mainstream Gone Wrong?

Can Bulls Step In?

But again, many believe it is irrational to have such bearish interpretations of the cryptocurrency’s chart at the moment. As reported by NewsBTC earlier, Popular crypto trader Mayne recently noted that the “people waiting for $6,000” are irrational. He quipped that Bitcoin retracing and consolidating after its fourth-biggest bull move in history ($7,300 to $10,500, a 42% gain) is perfectly par for the course, but noted that it’s totally possible we can go lower from $8,800.

The medium-term technicals support this.

Trader and CoinTelegraph contributor FilbFilb found that by the end of November or start of December, the 50-week and 100-week moving averages will see a “golden cross,” which he claims is far more significant” for the Bitcoin market that other technical crosses.

Also, a Bitcoin price model created using Facebook Prophet machine learning found that the leading cryptocurrency is likely to end the year at just over $12,000. What’s notable about this model is that it called the price drop to $8,000 months in advance, and forecasted a ~$7,500 price bottom for BTC.

To put a cherry on the cryptocurrency cake, Crypto Thies observed that when Bitcoin bottomed at $7,300, it bounced decisively off the 0.618 Fibonacci Retracement of the move from $3,000 to $14,000, which correlates with the two-week volume-weighted moving average. He added that summer 2019’s consolidation was marked by Bitcoin flipping major resistances into support levels, implying that a bullish reversal and subsequent continuation is likely possible in the coming weeks.

Featured Image from Shutterstock

Nick Chong , 2019-11-10 12:00:38

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