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A tiny European country's only billionaire built his fortune on dental products — and now he's worth 50% of the entire nation's GDP

Christoph Zeller is Liechtenstein's only billionaire, according to Forbes. The 62-year-old billionaire, who made his fortune in dental products, is worth $3.1 billion. That's half of the tiny European country's $6.2 billion GDP. Zeller spent 13 years as the CEO of Ivoclar Vivadent AG, a dental products company that brought in $818 million in sales in 2018. Visit Business Insider's homepage for more stories. There are an estimated 2,153 billionaires in the world, according to Forbes. But in Liechtenstein, a tiny central European country of 38,547 people, there's just one: Christoph Zeller. Zeller's is worth an estimated $3.1 billion, according to Forbes, a fortune derived from dental products. The 62-year old billionaire is the former CEO and now a supervising board member of Ivoclar Vivadent AG, a Liechtenstein-based dental products company that brought in about $818 million in sales in 2018. Liechtenstein's gross domestic product (GDP) is about $6.2 billion, meaning the nation's only billionaire is worth half of his entire country's GDP. Ivoclar Vivadent was founded in 1923 to produce artificial teeth, and today it employs 3,505 people in offices in 25 countries and production facilities in Liechtenstein, Austria, Italy, the US, and the Philippines.  Zeller's grandfather, Dr. Adolph Schneider, bought the company in 1948 and Zeller served as CEO from 1990 to 2003, according to Forbes. Little is known about Zeller's personal life except that he lives in Vaduz, which is the capital of Liechtenstein but is home to only about 5,450 people. Liechtenstein is a tiny country of about 62 square miles — more than eight times smaller than Los Angeles. Despite its diminutive size, Liechtenstein has a thriving economy and the second-highest per capita GDP in the world — $165,028 — after Monaco. It's one of a handful of countries that claims to have zero national debt. Its diverse economy is focused on manufacturing, the financial industry, and the services industry. And it's not alone in having only one billionaire. At least 12 other countries, including Iceland, Portugal, and Qatar, are home to just one individual with a net worth of at least $1 billion. Most of the world's billionaires live in the US, China, Germany, Russia, and the UK.SEE ALSO: 13 countries that have only one billionaire DON'T MISS: Germany has the 3rd-highest number of billionaires in the world. Here are the 11 richest Germans, ranked. Join the conversation about this story » NOW WATCH: Traditional Japanese swords can take over 18 months to create — here's what makes them so special
Business Insider

The Most Profitable Trend to Watch in the Market Right Now

I’m being patient and paying very close attention to a single group of investors. I’m not listening to price targets from Wall Street analysts. I’m not turning on CNBC to hear what a money manager is doing with his money. Instead, I’m looking at companies that have one distinct signal. And I’m not talking about moving averages or technical indicators either. I’m simply talking about what the people who know their companies best are trading. Read more... Tags: Investing To get full access to all Money Morning content, click here About Money Morning: Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free. Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors. Disclaimer: © 2019 Money Morning and Money Map Press. All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. 16 W. Madison St. Baltimore, MD, 21201. The post The Most Profitable Trend to Watch in the Market Right Now appeared first on Money Morning - We Make Investing Profitable.
Money Morning

Brave Browser (BAT) Now Has over 10 Million Monthly Active Users

Brave Browser (BAT), a privacy-protecting internet browser that’s focused on giving the masses absolute control over online activities, while also rewarding them with Basic Attention Token (BAT), has announced that the browser has seen more than 10 million monthly active users (MAU) since launching Brave 1.0 in November 2019, according to a blog post onRead MoreRead More. The post by Ogwu Osaemezu Emmanuel appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\
BTC Manager

You Can Now Send Ethereum Anonymously For Under $1

The EY Blockchain team published the open-source code for its latest addition to the Nightfall project, which brings the potential for batching anonymous transactions on the Ethereum (ETH) network. Ethereum Transaction Batching Brings Gas Cost Down The Nightfall project brings usage of ZK-Snarks, the Ethereum-compatible technology for transaction veiling. Additionally, the team has worked on transaction batching, to allow the lowest gas cost possible. In a Reddit update, EY announced, Doing the full 20 transactions available in this version drops your gas cost to approximately $0.24. This includes both batching and a new tool for reducing Merkle tree updates called (appropriately) Timber developed by the EY Blockchain research team Paul Brody, the Global Blockchain Leader at EY, introduced the updated repository, promising more updates to optimize the usage of the Ethereum blockchain. I'm pleased to share that we have released an update to the #Nightfall open source and public domain tools from EY. This update enables our first version of transaction batching – allowing up to 20 transactions at once under zero knowledge. — Paul Brody (@pbrody) December 5, 2019 The achievement of the EY team brings a form of scaling to Ethereum, with more efficiency from transaction batching. The technology is aiming to improve the use of tokens, by also veiling some of the interactions with smart contracts. The Ethereum network still has busy days, though utilization has fallen to about 80-89%. Any form of gas-optimization may be useful to end users. Currently, a handful of smart contracts constantly burn most of the gas, and may remain fixtures on the network. EY Team Show Risks of Private Blockchains The EY team are one of the firms that have decided to tie working, business-ready blockchain solutions on one of the biggest public blockchain. The creation of a private blockchain is relatively straight forward, but businesses may not want to be locked out or face technical difficulties from their competitors. Using a public blockchain and open-source code may help spot problems and optimize blockchain usage. The EY technology offers a form of tokenization for business processes, generating a non-fungible token to represent a payment obligation, and using fungible tokens to fill that obligation. The process is similar to private blockchains using secondary types of payment settlement, thus avoiding legacy systems and middlemen. While Ethereum does not scale as expected, the chain has still offered valuable services. On a regular day, transaction cost remains at most $0.031, with some irregular spikes. The Ethereum network carries around 600,000 transactions per day, based on Blocktivity data. ETH traded at $148.90, finding a new stability ledge after crashing from the $180 level. What do you think of the new possibilities for ETH and token users? Share your thoughts in the comments section below! Images via Shutterstock, Twitter @pbrody The post You Can Now Send Ethereum Anonymously For Under $1 appeared first on Bitcoinist.com.
Bitcoinist

XRP Petitioner Now Sounds Alarm Bells on Tron [TRX]

Crypto Bitlord, a crypto influencer who had started a petition against Ripple earlier in the year for dumping XRP in the crypto market and suppressing its price, has now sounded the alarm bells on Tron [TRX]. What’s Wrong With Tron? According to Crypto Bitlord, Binance controls 56% of the voting power in the Tron network, and the Tron foundation holds 34 billion TRX which they may dump on the market and suppress TRX’s price. Did you know that binance control 56% of $TRX voting power and the foundation owns another 34 Billion to dump? We’ve been focusing on $XRP too much. How did we miss this 🤯 — ฿ITLORD (Hunger strike) (@Crypto_Bitlord) December 5, 2019 Crypto Bitlord substantiates his claims with a thread from Brian Fabian Crain, the CEO of Chorus One, a company offering staking services on Proof-of-stake blockchains. It was Crain who first pointed out that Binance controls 56% of the voting power on Tron foundation. Source: Twitter Is Binance Capable of Controlling 25 Out of 27 Validating Nodes? As per Crain, if Binance split their 12,489,690,950 votes across 25 nodes, then they would have 499K votes per node, effectively making them in charge of 25 out 27 validating nodes. What a joke: @binance controls 56% of the voting power on @tronfoundation. If they split their votes across 25 nodes, they'd have 499k per node and would control 25 out of 27 validating nodes. Decentralization theater. Centralized exchanges are an existential threat for crypto. pic.twitter.com/Ln7yfL8hP9 — Brian Fabian Crain (@crainbf) December 4, 2019 Crain further goes on to critique the Delegated Proof-of-Stake (DPoS) consensus mechanism. In DPoS, the members on the network vote for delegates that will validate new blocks and secure the network on their behalf. The voting power of each member is determined by the number of coins they hold. If a delegate successfully manages to validate a block, then the reward for the block is shared proportionally with the respective electors of the delegate. Crain implies that the design of DPoS systems centralises power, which is against the very gain of blockchain. He feels that if most of the coins are going to end up with centralised custodians, then we are just rebuilding traditional financial systems with new technology. But if coins will all end up aggregating with centralized custodians, it's hard to see what all that blockchain thing is about. These networks certainly won't be resistant to censorship or regulatory interference. Will we just replicate the old financial system with new tech? — Brian Fabian Crain (@crainbf) December 4, 2019 However, he also says that this may not be for the worst. “Or maybe it actually will be much more efficient and there will be a net benefit even if the original ideas of P2P, decentralized networks and users controlling their own assets get left behind.” The Crypto Community’s Take On Crypto Bitlord’s thread, debates ensued between members of crypto Twitter. While many members agreed with Crypto Bitlord’s stance on the matter, several members also rebuffed him for his fears. A few members posited that Binance only has power enough to elect 1 delegate or Super Representative. Source: Twitter Source: Twitter Several members of the community also came to defend the Tron foundation and Justin Sun, rejecting the possibility that the Tron foundation or Justin Sun intended to dump TRX on the crypto community. The reasons for the same were that the price of TRX was already suppressed, and so, it would be a bad move for the Tron foundation. Source: Twitter At press time, Tron is trading at $0.0145, up 0.71% in 24 hours. However, Tron has lost over 90% of its value from its all-time high of $0.3003. Do you think Crypto Bitlord’s concerns are valid or is it just unnecessary FUD? Share your views with us in the comments below.  The post XRP Petitioner Now Sounds Alarm Bells on Tron [TRX] appeared first on Coingape.
CoinGape

DAI the stablecoin can now be transferred GAS free (article explaining how it works via new MCD DAI contract). This holds alot of promise for the so called "Web3"

I found this article in the /r/MakerDAO sub https://medium.com/mosendo/gasless-by-mosendo-3030f5e99099 How it works In Sai (Dai v1), the only way for a user to grant a contract allowance over his funds was by manually calling the ERC20 approve() function on the Dai token contract, and not via meta-transactions. This function call required the user to pay fees in ETH. In the new MCD Dai token, a new contract function was introduced by Maker under the name of “permit”. This function allows the user to make an allowance to any address via a meta-transaction (signed message) instead of a manual transaction. The gas fees for this transaction can be subsidized by a relayer. ... few paragraphs down, The Gasless contract regulates the relationship between the Mosendo relayer and the user while ensuring that the relayer is trustless by only accepting meta-transactions that are authenticated by the user via signed messages. In exchange for its service, the relayer is also paid a Dai fee by the user in order to cover the transaction gas cost and running cost of the relayer infrastructure. This is compatible with metamask and perhaps the new browser "Web3" wallets, opera and brave are the first desktop ones to support it natively without extension. though the wallet is quite basic compared to metamask. The Web3 term makes me cringe as a dev, as it reminds me of "web 2.0" a few years back; which was really just an improvement of front end technologies and backend API perforamnce, and more generally evolution of the tech css / ease of layout tech (bootstrap) etc. I see web3 as pretty much a browser with a the ability to interact with blockchain, and thats with a wallet. I think tech advances such as the gasless wallets will open up huge opportunities in the future, not to mention other dApps that will come along as scalability improves. For one i think the the gassless wallet has a good chance at "banking the unbanked". Imagine being in a high inflation country 20%+ etc; and you had the ability to put your savings in DAI. it can also be loaned out via DeFi if you trust it. what are your thoughts on Web3?
/r/CryptoTechnology
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Blockchain Startup SpaceChain Sends Wallet Tech to International Space Station

Blockchain Startup SpaceChain Sends Wallet Tech to International Space Station Space-as-a-service-focused blockchain startup SpaceChain has sent its hardware wallet technology to the International Space Station (ISS). As part of the CRS-19 commercial resupply service mission, a SpaceX Falcon 9 rocket is delivering SpaceChain’s hardware wallet technology to the ISS, according to a Dec. 6 press […] Cet article Blockchain Startup SpaceChain Sends Wallet Tech to International Space Station est apparu en premier sur Bitcoin Central.
Bitcoin Central

Brave Browser (BAT) Now Has over 10 Million Monthly Active Users

Brave Browser (BAT), a privacy-protecting internet browser that’s focused on giving the masses absolute control over online activities, while also rewarding them with Basic Attention Token (BAT), has announced that the browser has seen more than 10 million monthly active users (MAU) since launching Brave 1.0 in November 2019, according to a blog post onRead MoreRead More. The post by Ogwu Osaemezu Emmanuel appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\
BTC Manager

Komodo’s AtomicDEX Exchange Runs a P2P Full Node in Your Web Browser

Komodo’s AtomicDEX Exchange Runs a P2P Full Node in Your Web Browser The developers of multi-chain architecture project Komodo claim that it has created an implementation of its AtomicDEX that runs a full peer-to-peer (P2P) node in the user’s web browser. Komodo developers wrote in a press release shared with Cointelegraph on Dec. 5 that […] Cet article Komodo’s AtomicDEX Exchange Runs a P2P Full Node in Your Web Browser est apparu en premier sur Bitcoin Central.
Bitcoin Central
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