February 11, 2018

Ted-Jan Bloemen: Olympic Speed Skater Lands Cryptocurrency Sponsorship

Getting paid in bitcoin or other cryptocurrencies makes sense for a lot of people; freelancers tend to benefit from this new form of money. In the sports industry, it seems there is far less interest in cryptocurrency right now. Canadian speed skater Ted-Jan Bloemen is a clear exception in this regard. His new sponsorship with ONG Social ensures he gets paid in the native digital currency. Bloemen is also competing at the Pyeongchang Olympics, which makes this deal even more intriguing.

Bringing cryptocurrency to the masses will not be easy whatsoever. Most people simply don’t care enough about this new form of money. It is rather surprising to find out one of the Winter Olympics speed skaters is a different breed in this regard. Ted-Jan Bloemen seems merit in digital currencies, partially thanks to a one-year sponsorship with ONG Social. This project is a social network and cryptocurrency community packaged into one.

An Interesting Choice by Ted-Jan Bloemen

Moreover, Bloemen will share his Pyeongchang journey on ONG Social as well. He is also appearing in a VR experience on CEEK VR, another platform which sponsors him during this journey. In exchange for these participations, Bloemen will be paid in cryptocurrency. This correlation between traditional sports and digital currencies creates an interesting precedent. Athletes can elevate VR and new social platforms to new heights just by being present.

CEEK VR CEO Mary Spio comments as follows:

“Bloemen’s support for cutting-edge technologies is reflective of his proclivity for pushing the boundaries. We believe Virtual Reality isn’t just great for our audience (Ceekers) but will ultimately be used for training and maximizing player performance and potential.”

Unlike what people may expect, Bloemen isn’t too worried about the volatility of digital currency. He is not getting paid in bitcoin or any of the other major currencies. Instead, it seems ONG Social has its own currency. At the time of writing, we do not know how many coins the Canadian speed skater will receive exactly. All things considered, this is a fun and exciting partnership for all parties involved. Whether or not cryptocurrency has a bright future ahead in the sports industry, remains to be seen.

Published at Sun, 11 Feb 2018 18:19:14 +0000

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January 5, 2018

Binance Shuts the Door on new Account Registrations due to Overwhelming Popularity

The year 2017 has been incredibly positive for most cryptocurrency exchanges. All platforms saw their user base grow, which is always a positive outcome. At the same time, it also means these companies need to start upgrading their infrastructure sooner or later. Otherwise, they will suffer from degraded services, such as Kraken and Coinbase. Binance is halting new user registrations due to the overwhelming influx of new traders.

In a way, it is good to see exchanges halt new user registrations ahead of time. More specifically, if the infrastructure gets taxed too much, things will deteriorate pretty quickly. Companies such as Kraken and Coinbase know all too well how things can get out of hand. Binance wants to remain ahead of the curve at all times. To do so, they are not accepting any new users until an internal upgrade has been completed. A smart decision by the company, as it will avoid unnecessary friction.

A Major Step Forward by Binance

While this is not a popular decision, it does make a lot of sense.All services will remain operational for the time being. New users will simply have to wait until the infrastructure upgrade is complete. For now, we don’t know how long this will take, though. The popularity of Binance should not be underestimated by any means. It has quickly become one of the hottest altcoin exchanges in the world. That popularity will only increase further if they continue to provide an optimal service.

If Coinmarketcap is to be believed, Binance is the biggest cryptocurrency trading platform in the world. Their daily volume has surpassed $2.5bn, which is rather impressive. It simply makes sense to implement the necessary upgrades at such a critical time. After all, if the company were to suffer from issues, their reputation would take a major hit. It’s always best to scale well in advance, rather than wait for problems to arise. There is still a growing demand for cryptocurrencies, that much is rather evident.

Such rapid growth in the world of cryptocurrency is rather unprecedented. After all, things were trucking along nicely until mid-2017. Ever since it feels as if we are in a new gold rush era. Everyone wants to sue exchanges and buy cryptocurrency. A positive development, assuming companies can scale quickly enough. Whether or not Binance will be successful in doing so, remains to be determined. Their course of action certainly hints at a positive future in this regard.

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