Startups Hyperloop Project Revitalized Published 4 years ago on December 22, 2014 By Drew Cordell A couple of years ago, plans for a next generation transportation technology called the Hyperloop were revealed by Elon Musk. This new invention would transport passengers between Los Angeles and San Francisco in under 30 minutes. The Hyperloop is to utilize a combination of air blades and a semi-evacuated tube to create incredibly fast travel capabilities. For over a year, the project remained stagnant. It was unknown if Musk created a test model as he made the plans publically available, with a promise not to enforce his trademark on the idea in the hopes that others would take up his idea and develop it. Also read: Hack North Korea: Information Black Market. Hyperloop One of the first projects to develop the idea further is Hyperloop Transportation Technologies, a company formed last September. The company will be researching the finance and engineering of the system early this week. The company works with a model that is formed from a network of over one hundred professionals that have experience working in the transportation industry. Using the JumpStartFund model, each employee will be compensated through a share of the company’s eventual profits. Until the project is complete and profitable, each employee is a volunteer on the project. Though the project is far from completion, the group has made significant progress in how the finalized system might look. The group has created three models for different classes of Hyperloops across the US; these classes are economy, business, and freight. Each class would obviously have different routes and speeds based on the needs of the customers. “In the initial white paper, air has the advantage that it’s cheap, but it also has problems with control,” says CEO Dirk Ahlborn. The group is actively looking into other mediums for transport other than air, and if they are cheaper and more efficient, the new medium could be implemented in the design. Powering the Hyperloop with air from fans will make the technology relatively cheap to power. The trans-California route is estimated to cost between $7 and $16 billion dollars to fund after initial financial projections. Musk’s initial price projections were $6 billion dollars, much lower than the current projections. “The biggest thing for me is the price,” says Ahlborn. “We know it’s not going to cost $50 billion — we know we’re in a range that works.” Though the project is very ambitious, it is in the price range that is feasible. After remaining relatively stagnant for over a year, the Hyperloop project is finally revitalized. What do you think about the Hyperloop? Comment below! Images via Hyperloop Transportation Technologies. Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink. Rate this post: Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way. (0 votes, average: 0.00 out of 5)You need to be a registered member to rate this. Loading... Drew Cordell Drew is an undergraduate student at the University of Texas at Dallas, majoring in Business. He is an active member of the Cryptocurrency community, and enjoys Bitcoin, the decentralization of technology, and the rise of P2P applications. Follow @HackedCom Feedback or Requests? Related Topics:Elon Muskhyperloop Up Next Mobile Application Wakie Starts Your Day Off Right Don't Miss Believe It or Not, NASA Emailed a Wrench into Space You may like Oil Surges as Stocks Pull Back in Late Trading Tesla: Even Record Losses Cannot Stop the Stock’s Growth Tesla: A Good Option to Invest U.S. Extends Olive Branch to China, Easing Trade Tensions Elon Musk Launches Most Powerful Rocket of a Generation Be Very Careful Who You Follow on Twitter, or the PC Thought Police Will Come For You Click to comment You must be logged in to post a comment Login Leave a Reply Cancel replyYou must be logged in to post a comment. Companies Crypto Market Development: Goldman Sachs-Backed Circle Acquires Crowdfunding Platform Published 2 weeks ago on October 6, 2018 By Ken Chigbo Goldman Sachs-backed Circle has announced it has acquired SeedInvest. The fee has not been disclosed. SeedInvest are a crowdfunding platform. Circle are planning to expand SeedInvest’s offerings to support cryptocurrencies. The Goldman Sachs funded crypto start up Circle, are really stepping up their dominance within the market. Over the past two days, there has been a couple positive developments from their camp. Firstly, the firm has acquired crowdfunding platform SeedInvest. Elsewhere, they have added a new feature for their app, known as Collections. Circle Acquires SeedInvest Circle Internet Financial is acquiring SeedInvest. Should all be approved by regulators, the company are targeting the strategy of delivering a token marketplace. This will enable businesses as well as individuals to raise capital and interact with investors using open crypto rails and infrastructure. Circle will want to make it easier for startups to issue digital coins. The scope also to facilitate customers to trade a larger variety of digital tokens. A full statement can be observed by their latest blog. Collections Another development from Circle, coming in the form of adding a new feature, is “Collections”. This will allow its users to invest in a particular theme. The following themes offered are “Platforms, Payments, and Privacy.” Users will be able to invest in an entire theme, with a single click. Providing a simplified way for investors portfolio be focused on multiple coins. Full coverage was posted within a blog from the company. Market Review These developments continue to cement the huge improvements being observed across the market. The sky appears to be the limit, as the digital currency sector does not stop having its infrastructure solidified. Updates such as the announcements from Circle, demonstrate capabilities are not limited. See previous acknowledgement points of the sector taking big legitimizing steps, in a prior Litecoin article, under the section ‘Big Infrastructure Improvement In The Crypto Market’. The one thing that will likely continue to slowdown the market is regulation. This will have to be the case for the foreseeable future. As revolutionizing as the industry is, regulators must remain cautious for the sake of all parties involved. Their concerns remain about the safety of investors that want to participate in the marketplace as well as ensuring that anti-money laundering protocols are maintained. In the long run, it is in the best interest of all those involved. Besides all of this, there is still remains some way to go for complete a complete solid system, in comparison to the traditional financial system. Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading. Featured image courtesy of Shutterstock. Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink. Rate this post: Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way. (1 votes, average: 5.00 out of 5)You need to be a registered member to rate this. Loading... Ken Chigbo 4.5 stars on average, based on 33 rated postsKen has over 8 years exposure to the financial markets. During a large part of his career, he worked as an analyst, covering a variety of asset classes; forex, fixed income, commodities, equities and cryptocurrencies. Ken has gone on to become a regular contributor across several large news and analysis outlets. Follow @HackedCom Feedback or Requests? Continue Reading Business EOS Developer Secures New Funding from Bitmain, PayPal Co-Founder in Major Investment Deals Published 3 months ago on July 17, 2018 By Sam Bourgi Despite its recent struggles, the development firm behind EOS has received new backing from several big-name investors, including Bitman and PayPal co-founder Peter Thiel. The deals solidify EOS’ emergence as a major player in the booming market for decentralized applications. EOS Backing Bitmain, the world’s largest blockchain company, announced its investment stake in EOS on Monday after CEO Jihan Wu praised the protocol’s performance and scalability potential. “The EOSIO protocol is a great example of blockchain innovation. Its performance and scalability can meet the needs of demanding consumer applications and will pave the way for mainstream blockchain adoption,” Wu said. While the specifics of the deal were not disclosed, Bitmain’s involvement is said to align with Block.one’s vision of creating a more “connected world,” according to CEO Brendan Blumer. Bitmain has quickly evolved into an international conglomerate with a number of key investments in recent months. The company, which was originally a bitcoin mining manufacturer, announced in May it had led a $110 million Series E round for Circle, a cryptocurrency exchange and wallet platform that is also backed by Goldman Sachs. Earlier this month, Bitmain announced plans to purchase a roughly 43% stake in Opera Ltd., a Norwegian internet browser that has filed for an initial public offering with Nasdaq. As Hacked reported earlier this month, Bitmain has emerged as the world’s largest blockchain company with a total value of about $12 billion. EOS in the Spotlight In addition to Bitmain, the development arm behind EOS has announced that Peter Thiel and hedge fund billionaires Louis Bacon and Alan Howard have also invested in the company. While their monetary contributions have not been publicized, their backing is considered a silver lining for EOS, which has struggled in the wake of a botched mainnet launch that has revealed more weakness than strength. False starts, account suspensions and, more recently, RAM hoarding have all tainted EOS’ mainnet campaign. The project’s arbitration mechanism has also come under attack, which has compelled founder Dan Larimer to propose a new constitution entirely. “I am merely saying that the current constitution is not wise,” Larimer said last month. “I have learned a lot about human nature by watching the disputes, the witch hunts, the ‘bring everything before ECAF’ mindset.” Since peaking in late April, EOS has lost more than two-thirds of its value. The cryptocurrency is back below $8.00 a unit on Tuesday after reaching a high of $8.11 earlier in the week. Disclaimer: The author owns bitcoin, Ethereum and other cryptocurrencies. He holds investment positions in the coins, but does not engage in short-term or day-trading. Featured image courtesy of Shutterstock. Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink. Rate this post: Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way. (0 votes, average: 0.00 out of 5)You need to be a registered member to rate this. Loading... Sam Bourgi 4.6 stars on average, based on 648 rated postsSam Bourgi is Chief Editor to Hacked.com, where he leads content development for one of the world's foremost cryptocurrency resources. Over the past eight years Sam has authored more than 10,000 articles and over 40 whitepapers in the fields of labor market economics, emerging technologies, cryptocurrency and traditional finance. Sam's work has been featured in and cited by some of the world's leading newscasts, including Barron's, CBOE and Forbes. Contact: email@example.com Twitter: @hsbourgi Follow @HackedCom Feedback or Requests? Continue Reading Business FIC Network – Bringing Fixed-Income Assets to the Blockchain Published 4 months ago on July 5, 2018 By Daniel Won As blockchain and cryptocurrency continue to gain adoption, use cases are moving away from things that are solely related to the cryptocurrency world as people explore the potential for blockchain and digital currency to change existing structures. In fact, business spending on research and development of blockchain-based spending is set to explode from $2.1 billion in 2018 to $9.7 billion in 2021. One of the ways in which people are looking to implement blockchain is in traditional finance, where things like blockchain and tokenization will vastly speed up processes as well as make them more accessible to everyday investors. Bonds on the Blockchain FIC Network is an example of such a project and is aiming to bring bonds to the blockchain by allowing users to both issue and invest in fixed income assets, such as bonds, using cryptocurrency. According to FIC Network’s website, the worldwide global credit and fixed income market is valued at $230 trillion, which is more than 3x the already formidable global equity market of $70 trillion. Cryptocurrency, which is accessible by just about anyone who’s on the Internet, has a much smaller market size ($255 billion as of writing according to Coinmarketcap). Moreover, there is no infrastructure in place to create crypto-based credit and fixed income assets like bonds in traditional finance. FIC wants to become the blockchain-based infrastructure to allow for the creation of a global, mixed crypto and fiat currency credit and fixed income market. By doing so, the FIC team believes that they will greatly accelerate worldwide economic growth by allowing anyone, anywhere to borrow and lend both crypto and fiat-based assets, including but not limited to bonds, loans, collateralized loan obligations, credit default swaps, and futures, as well as securitize both crypto and fiat-based debt. Moreover, crypto itself should grow by adding a “mainstream” element (fixed income financial products) to crypto, which will expand crypto’s uses. Such a project can only be seen as positive news when it comes to wider adoption of blockchain and cryptocurrency. Not Just Blockchain, Taking on Conventional Fixed Income To repeat, FIC Network wants to create a blockchain infrastructure for both crypto and fiat credit and fixed income. FIC believes that its solution will be better than those offered by traditional finance because through blockchain, common problems, such as differing information, friction, illiquidity, lack of interoperability, and other operational problems, will be greatly mitigated. Furthermore, users will be able to access this crypto and fiat-based network with the currency or currencies of their choice thanks to FIC Network’s built in exchange. Not only is this more convenient, but it also eliminates things like exchange rate risks experienced on conventional platforms. Here is a brief overview of how FIC Network works. FIC Token Of course, like a lot of projects out there, FIC will have its own cryptocurrency that will power its ecosystem. In this case, FIC is a utility coin that will be used to perform various activities on FIC Network like listing, trading, and holding financial assets. Page 31 of the FIC whitepaper has a table of actions that require FIC deposits and fees to be paid. Moreover, while a lot of projects issue Etheruem-based ERC20 tokens, FIC will immediately release its own native blockchain cryptocurrency to investors who partake in its ICO. FIC Network’s Team and Advisors FIC Network Founder and CEO Arturs Ivanovs was a marketing executive and senior project manager at Porter Novelli Latvia, a leading public relations agency in the Baltic region. At Porter Novelli, Ivanovs represented clients like the European Investment Fund, Z-Towers, the Baltics’ biggest real estate project, and Mercedes-Benz. He later quit his job in 2015 after discovering blockchain technology the year prior and moved to the United States, where he founded FIC’s parent company, Factury. Factury was named a Top 10 Company Worldwide by Startupbootcamp NYC and selected to be part of Boost VC, a prominent Silicon Valley-based blockchain startup accelerator. Co-Founder and COO Alvar Soosaar brings a lot of experience in the financial sector to FIC and according to the FIC whitepaper, he previously managed a $7.8b fixed income securities portfolio for nearly 10 years. Soosaar is a University of Virginia (undergraduate) and University of Oxford (MBA) graduate. Co-Founder and Senior FIC Network Architecture Advisor Aigars Staks spent part of his career at well-known companies like Microsoft and PwC and has built his career around large-scale IT project planning and management. FIC Network advisors include Matiss Ansviesulis, Co-Founder and CEO of Creamfinance, which he helped grow to a 35m euro revenue business with 300 employees in 8 locations. Inc. Magazine named Creamfinance the fastest growing fintech company in 2016. FIC Network Risks What FIC is doing is definitely something that could bring massive improvements to the fixed-income market. However, the team’s plans for achieving its goals are unspecified. For example, there are no major partnerships with financial services providers that would facilitate onboarding of clients and growth of FIC Network. In addition, the team is not as strong (deep experience of success in fixed-income and/or blockchain) as it could be. Related to the above is the fact that there are lots of different parties working on bringing blockchain-based solutions to things like bonds. For example, Swiss asset manager Lomard Odier Investment Managers completed its first blockchain-based bond transaction back in January, and it’s believed that that particular example was the first catastrophe bond transaction to be settled via blockchain. Other examples include BondChain, which issues bonds on The Linux Foundation’s Hyperledger blockchain, a project being worked on by huge companies like IBM. The city of Berkeley, California is looking to use blockchain for issuance of municipal bonds as well. FIC Network Potential While FIC Network does face obstacles like lack of partnerships, lack of strong team, and competition from various parties, it does have some potential to become a big project. For one, the mere idea of bringing the benefits of blockchain technology to traditional asset classes like fixed income assets is definitely a huge growth opportunity. Moreover, they have a working demo, which is always a huge plus in the blockchain and crypto world, where many projects have nothing but vague whitepapers (if that). Therefore, FIC Network is definitely something to keep an eye on as the application of blockchain to uses, such as fixed-income marketplaces, continues to come to fruition. For more information, check out the FIC Network website. Featured image courtesy of Shutterstock. Important: Never invest (trade with) money you can't afford to comfortably lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here. Trade recommendations and analysis are written by our analysts which might have different opinions. Read my 6 Golden Steps to Financial Freedom here. Best regards, Jonas Borchgrevink. Rate this post: Important for improving the service. Please add a comment in the comment field below explaining what you rated and why you gave it that rate. Failed Trade Recommendations should not be rated as that is considered a failure either way. (0 votes, average: 0.00 out of 5)You need to be a registered member to rate this. Loading... Daniel Won 4.8 stars on average, based on 32 rated posts Follow @HackedCom Feedback or Requests? 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