The Future of Money, Governance & The Law – Washington, DC & Live Streamed
How will this disruptive technology affect our money, the Government’s control of it, and our laws? We will attempt to look into the future by tracking the trajectory of Blockchain, AI, IoT, DLT, and a host of other recent technologies.
Binance Raising the Bar in Australia: Customers Can Buy Bitcoin with Cash at Stores
Digital asset exchange, Binance, has released a new platform in Australia. The platform will allow their community base to buy BTC with cash, from over 1,300 stores! The new release is called Binance Lite Australia and it is a cash-to-cash brokerage service. Currently, Aussies can buy the cryptocurrency using Australian dollars (AUD). In the future, Binance is looking to expand their cryptocurrency offerings, and add more to the platform. The process begins with users completing a verification process, then they are able to place an order to buy the digital asset online, and finally they can deposit their cash at the nearest newsagent and can receive the digital asset within minutes. The transaction fee is 5 percent for users that do purchase Bitcoin through the service. The CEO of Binance has mentioned that this new platform is additional proof that cryptocurrencies are becoming widely adopted by more and more people and institutions. Binance has been on fire as of late, they released a fiat-to-crypto exchange in Uganda and British ruled island Jersey. The list keeps growing for Binance, they are definitely an exchange you want to keep your eyes on and even become a part of.
Fortune 500 Company Now Accepting Cryptocurrencies
One of the globe's biggest distributors of electronic services and components, Avnet, is officially accepting cryptocurrencies via BitPay. BitPay is a payment processing company that uses blockchain technology. The Fortune 500 institution just announced the news, and their clientele can now pay in Bitcoin and Bitcoin Cash for products and services. Bitpay will take part by verifying the transactions, so everything runs smoothly. Cryptocurrencies will help to diminish the expenditures, time, and other complexities that involve Avnet's products being sold on the market. Within just the first month of allowing their clients to pay with digital currency, Avnet has already processed several multi-million dollar transactions! This news will make the company the third biggest tech institution in the States to accept BTC payments, not too far behind Microsoft and Dell. BitPay and Avnet are also working together to create a new hardware wallet that will allow digital asset storage and provide security. BitPay is already doing big things, by processing over $1 billion in transactions for two years in a row! This partnership is definitely comprised of big players in the market.
IBM Bringing its Banking Customers One Step Closer to Digital Currencies
Six international financial institutions have signed letters of intent for the issuance of stablecoins, on World Wire, which is an IBM payment network that uses the Stellar blockchain. This deal will promise that regulated banking institutions will provide value for transactions that happen border-to-border. It will also allow transactions to occur faster and cheaper, than the current correspondent financial banking structure. As of now, three banks have been named: Brazil's Banco Bradesco, Phillipines Bank RCBC, and South Korean Bank Busan. The remaining three will soon be identified. However, we do know that they will be offering digital forms of Euros and the Indonesian currency Rupiah. The network has already gone live, and so far there is one stablecoin that is on World Wire at the moment and that is the U.S. dollar backed token that was formed by Strongholed, a startup company out of San Francisco. So far, there has been favorable responses from U.S. regulators, which is always a good sign. The World Wide network already has locations in 72 nations and has 46 currencies under its belt. Besides allowing customers to use the stablecoins, in the future there is a possibility clients of these banks can use lumens, which is another token using the Stellar blockchain. The lumens can be implemented as a "bridge currency", which makes it easier to trade one fiat currency to another fiat currency. World Wire will be the first big bang to hit IBM, this year. Stellar was created by former Ripple co-founder, Jed McCaleb. What does this association have to do with IBM? IBM will be working as a network operator, with Stellar being at the protocol level. This will include tasks such as IBM keeping maintenance of the payment API and software that will handle client accounts and their money flow. This new innovation will also assist IBM in making its mark with most banks worldwide.
Blockchain App Brave Making Killer Downloads!
An internet browser that rewards its users with cryptocurrencies, is making its community base larger, with 20 million app downloads! The Android app, Brave, is only growing larger. Brave's main missions are to eliminate ads, fix the internet, and not to track its users location, unlike other apps. The cryptocurrency that is rewarded to users is called "Basic Attention Token" (BAT). Recently, Google was accused of using invasive privacy policies, that breached a lot of users' security. Brave is a potential threat to other web browsers, such as Google Chrome. The app is calculated to be in the top 1% of all Android app downloads. This marks for a significant adoption of blockchain for people using smartphones. Brave's team raised a whopping $36 million in just a matter of 30 seconds, during their ICO release. Even though Brave's main purpose is not to serve as a crypto exchange, it is yet another example of an app that provides built-in crypto features.
Facebook Launching its Own Crypto Soon
Social Media giant, Facebook, is very interested in creating and offering their own cryptocurrency. There have been many attempts to implement digital currencies into messaging and social media platforms, in the past. This will mark a major milestone for social media and customer outreach. The Times reported that Facebook will be releasing their digital currency by the first half of 2019. Currently, Facebook has a user base of 2.5 billion people worldwide. Facebook is working on a stablecoin for its messaging service and in recent months they have enlisted a strong blockchain team for the project. The company currently has openings for 20 blockchain linked positions, with a established team of 50 blockchain engineers already working on the project. Facebook's mission is to integrate users across its whole social media portfolio including: Messenger, WhatsApp, and Instagram. Keep an eye out on your apps in the near future, and note the new features that pop up!
Bahrain is the First Country to Regulate BTC
Just a few months ago, there was mention that Bahrain has completed its draft on regulations of digital currencies. The Arab nation has now finished its final version of the regulations, and there weren't many corrections they had to make. The country is now officially able to do business with cryptocurrencies. Currently, Bahrain's list of the regulations are not available anywhere for public access. However, the Central Bank of Bahrain has noted the regulations call for enhanced due diligence. The regulations demand that any company conducting digital currency operations, must educate their clientele. This is not a surprise to us, as many Bahrain officials have come forward as cryptocurrency supporters. Dr. Abdulhussain Mirza, Minister of Electricity and Water Affairs, has stated that blockchain technology is a huge step in the future to find a way to expedite transactions. Bahrain is one of many countries in the region that is looking at future economic gains. Countries that have a huge reliance on oil, to further their economies, have a unique incentive to build technological industries. Saudi Arabia is working with the United Arab Emirates to facilitate cross-border payments. The UAE is another Middle Eastern nation that is taking advantage of blockchain initiatives. Several crypto exchanges have set up shop in Dubai, as it is the hub of Arab finance.
10 Reasons Why BTC is Going for a Bull Run this Year
Just two days ago, Bitcoin's price reached a 40-day high, priced at $4,000. The transaction volumes of Bitcoin have also reached highs. The global digital currency market has been increasing as well with a market cap of $15 billion in just 2 days! This only makes investors optimistic that they are in for a bull run very soon. So here are a few reasons why we believe that Bitcoin will be experiencing a bull run this year: 1) Other top cryptocurrencies such as Ethereum and EOS are also experiencing surges. EOS market value is taking charge, with an increase of 25% in just 48 hours. Meanwhile, Ethereum has bumped up 10% over the same time period, while XRP has also acquired gains. Altcoins such as these, and Bitcoin, definitely complement each other. When one is doing well, the other is also. The digital currency market is still smaller than the amount of fiat currency that is coming into it. It is safe to say that BTC and ETH are not competing against one another, instead they are competing with institutions and forms of currency such as PayPal, Bank of America, bonds, stocks, precious metals, real estate, and anything else that holds intrinsic value. 2) If the bull run does happen, it may be because of financial institutions. Crypto investors have noticed that financial institutions are looking to get a bite into the digital currency market, this is how you know that the trend is taking off. 2019 will be the year that institutional finance starts hodling BTC. 3) Exchanges and trading platforms have made it easier to access cryptocurrencies. In the last two years, it was not as easy to purchase cyrptocurrencies as it is now. Exchanges have been implementing digital wallets via mobile apps so everything can be accessed at the user's fingertips. 4) Technologies are making it easier for a BTC bull run to occur. One hindrance of Bitcoin, it the congestion that occurs on the network. But that is feature that consists of deflationary monetary design. This is why Bitcoin is considered as "precious". Developers have been creating second layer technologies to make the network more streamlined, and make it easier for more data to flow in and out. 5) Countries dealing with economic shortcomings are a big part of this bull run. Venezuela, is a nation that has recently been blown out of the water in terms of economic depression. The country is not only dealing with inflation, but also political upheavals. This has caused the nation to turn to Bitcoin, and has also led to a high demand for the cryptocurrency. 6) Bitcoin ATMs are making a big appearance and they are spreading fast. Not only are there many point of sales for digital currencies on trading platforms, but Bitcoin ATMs are also popping up in more locations nationwide, making it easier for people to purchase the cryptocurrency. Chicago just added 30 new BTC ATMs, bringing their count to a total of 100 ATMs. Philadelphia also has 100 Bitcoin ATMs! 7) More governments are adopting Bitcoin. Paraguay is converting its bountiful hydroelectric energy, to mine Bitcoin. Also, as mentioned earlier, Venezuela is also depending on the cryptocurrency to bring its nation's economic status back to the surface. 8) Large retailers are also adopting Bitcoin. Retailers such as Rakuten, which is also known as the, "Amazon of Japan", recently stated that they will be releasing Rakuten Pay. This will allow users of Rakuten to purchase items using cryptocurrencies. 9) Silicone Valley is also in a 2019 bull run. Silicone Valley has not stopped at producing talented tech business partners, such as the Winklevoss Bros. These big-time investors are not only adding growth to the industry but also adding development and capitilization. 10) The lower the volatility of BTC, the better chances of a bull run. Another drawback of Bitcoin, is the fact that it is so volatile. This has also caused many people to say that the cryptocurrency is not a real form of currency. Although this may have been the case, as of late, the price of Bitcoin is stabilizing. The standard deviation of the cryptocurrency has been decreasing. Is there any other reasons you think, that can cause a bull run this year?
Spain’s Second Largest Bank Relentlessly Freezes People’s Accounts, Claimed to be Racism
The second largest financial insitution in Spain, BBVA, has in total, frozen 5,000 accounts which belong to Chinese clients. This has led to outrage from the clients, and cries of racism. Bank representatives, however, are claiming that they are following guidelines of anti-money laundering regulations. This is just another in-your-face example that banks can take control of accounts and funds ruthlessly. This would never happen in the cryptocurrency market, where digital assets are fluidly transacted between users of different races, and ages. This is why many people should not be sleeping on having their funds invested in Bitcoin. Banks are of the past, and we are heading towards implementing the future, that is Bitcoin. Chinese bank customers protested outside of BBVA in Madrid. Many were carrying signs that included words like racism and discrimination. Bitcoin does not discriminate, and a person should have the right to access their funds under any circumstance.
BTC Trades in Venezuela are Booming!
he volume and trading patterns of Bitcoin in Venezuela are at an all-time high. LocalBitcoins, which is a digital asset platform, has reported that per week the volume of Bitcoin to Venezuelan Bolivar (VES) has been gone up to 2,454 BTC. Convert this to U.S. dollars and that is close to $9 million every week and $1.29 every day. Some analysts are even saying that at this rate, the volume can spike up to $14 million which is $5,800 per BTC. Recently, Venezuela has been dealing with a recession and many government officials were uncertain of the plight of their economy. Things got worse when the U.S. stopped their humanitarian aid. Venezuelans were struggling to even have a proper meal, with household items such as flour costing 80,000 bolivars. Bitcoin has created a hope for Venezuelans, and it allows people to utilize cryptocurrencies to purchase everyday needs. However, it is unlikely that the global market's top digital asset, will ever be Venezuela's main form of currency. Here is another instance, where Bitcoin is saving lives!