Newnote Financial: Crypto currencies change the Bitcoin formula
HOME CRYPTO BITCOIN NEWNOTE FINANCIAL: CRYPTO CURRENCIES ALTER THE FACE OF MONEY
Newnote Financial specialises in the purchase and development of Bitcoin specific products and services. The company is currently working on an independent ecosystem for such services.
The company Newnote Financial is specialized in the purchase and further development of Bitcoin specific products and services. The company is currently working on an independent ecosystem for such services.
Bitcoin Mining, i.e. the process of Bitcoin formula, will be an integral part
„We want to be able to offer all available services to our customers on a single Bitcoin formula platform,“ said the managing director of Vancouver-based software company Newnote Financial Corp. (WKN: A1111P in Frankfurt) Paul Dickson. There is no doubt that Bitcoin formula is increasing slowly but surely, as can be seen from the purchase of a villa on the island of Bali worth USD 500,000, for example.
Dickson says most people simply don’t understand the Bitcoin yet. He compares digital currencies with mobile phones or app stores. „The Bitcoin protocol is like the Appstore and the Bitcoin itself is an App. Developers like us are working on new apps for the Appstore. This „app“ should contain various financial services such as trustees or various contracts.
The company recently purchased a new Bitcoin ATM. With the device, Bitcoins can be purchased in just 15 seconds. You can pay with banknotes from over 200 countries. According to Dickson many more machines will follow. The machine is directly linked to the company’s trading exchange. „Who buys thus Bitcoins with the Bitcoin automat, buys also at the same time at our stock exchange, so Dickson.
The exchange Dickson is talking about is also part of Newnote’s fast growing success story. The stock exchange is called Puretrade Bitcoin and will be launched soon. Dickson promises that brokers will find familiar tools from stock trading on the stock exchange. „It’s exactly the same as trading stocks.“
The company recently set a major milestone as Winrock Resources Inc. (CSE:WR), the wholly-owned parent company of Newnote Networks Inc. announced its IPO in April. „We’re really very happy about that,“ Dickson said. „We did it without being stopped, we did it very dutifully and we are very pleased with the result. „Slowly everything begins to bear fruit. It will be very exciting in the coming weeks“.
Part of the project is to take advantage of the very cost-intensive Bitcoin mining
Newnotes Bitcoin Mining Center, which has six 10 ton air conditioners, currently has a capacity of 6-7 terahashes, says Dickson. „That means we’re producing about 1 trillion hashes per second.“ A hash is the smallest part of the Bitcoin mining process. Over the next few weeks, the company plans to achieve a total of 10 TH and 50 TH by December.
The machines can be bought or rented. The users thus buy gigahashes and the dug Bitcoins are credited directly to their account. Once again, all the services offered by Newnotes are linked. So when a user creates an account to buy Gigahashes, they also get access to the trading platform at the same time. Vice Versa works the same way.
„We’re building a new ecosystem for Bitcoin Services.“
However, the data center also generates its own profits by renting server space to external parties. There are currently 12 external servers in the farm. Billing is per kilowatt hour.
An own crypto currency is also planned. The currency should be called CryptoAid and is actually only an adaptation of the Bitcoin OpenSource software. Unlike the Bitcoins, which go 100% to the miners, a part of the coins is distributed by the CryptoAids. While the largest part of the mined coins goes to the miner, a small part is sent to a group of beneficiaries. The list of beneficiaries was determined by the CryptoAid community and divided into different recipient levels. Those with the greatest need receive most of the donated coins.