How businesses can use bitcoin

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By crossing the $ 40,000 threshold, bitcoin has doubled its all-time high of 2018. Will this unexpected rise change the feelings of business leaders? “The current increase is the result of the arrival of hedge funds”, explains Paul Desprairies, head of the blockchain lab of the Finnegan group. And these are arriving en masse in the United States due to a relaxation of banking regulations vis-à-vis cryptocurrencies. The OCC (office of the comptroller of the currency) has just released a note that clarifies what US banks are now allowed to do. “This opens up immense prospects, continues Paul Desprairies, American banks will be able to offer cryptocurrency services equivalent to what can be done with conventional currencies, with the added benefits of being completely digital.”

Scenting for a good deal, hedge funds anticipated legislative easing and rushed into bitcoin. “Their presence could stabilize prices, believes Paul Desprairies because they have the means to buy back when the price drops.” This theoretical possibility, however, did not prevent bitcoin from losing 6,000 do.

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155,000 American Merchants to Accept DASH as Payment

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The Dash Investment Fund (DIF), owned by the Dash network, has recently invested in CrayPay, a mobile payment platform that allows its users to instantly send and receive savings from over 150,000 locations and 75 national retail sites.

DASH (Digital Cash) announced the news on Tuesday which aims to increase adoption among its users. In coordination with this investment, Dash Core Group will be creating a new version of CrayPay’s saving platform to be utilized by DASH users.

A Broader Outreach

This collaboration means that users can spend and receive DASH back as savings from a plethora of American retail and online merchants. It will also give CrayPay users the opportunity to get exposure to the crypto if they choose to do so in the future.

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Global Database Crypto Market Research Report

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The increase in card payments that support multiple online transactions can drive the expansion of the global online payment gateway market during the trial period. The increase in digital installations can lead to the expansion of the online payment gateway market worldwide. The increased practice of cashless transactions and the emergence of payments from smaller denominations could lead to the expansion of the global payment gateway market in the coming years.

Market Research Future (MRFR) has announced a new launch in the global online payment gateway market. The report analyses all aspects of the global online payment gateway market in order to provide a comprehensive overview of market growth prospects during the 2018-2023 forecast period. According to the report, the global online payment gateway market is expected to grow at a strong CAGR of 12.8% during the 2018-2023 forecast period.

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Bitcoin Looks to Gain Traction in Payments

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Vegas Auto Gallery, a luxury car dealership in Las Vegas, has become a playground for bitcoin-rich investors looking to make money.

The dealership recently sold two high-end sports cars - a Pagani Huayra Roadster 2017 and a Bugatti Chiron 2019 - to a customer who paid more than $ 6 million in bitcoin, according to owner Nick Dossa, who says about 3 % to 5% of the dealership's revenues come from bitcoin transactions.

Bitcoin prices more than tripled in 2020 and are around $ 26,600, making millionaires out of accumulators from investors who have piled up to build the popular market. Professional investors like Stanley Druckenmiller and companies like Massachusetts Mutual Life Insurance Co. started investing this year. Companies like Robinhood Markets Inc. and PayPal Holdings Inc. have allowed their customers to buy and sell bitcoin.

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Digital Currencies May Make SWIFT Redundant, Says Russian Central Bank Report

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Digital currencies may challenge and someday could make redundant the SWIFT global banking payment system, according to a Central Bank of Russia official, Russia Today reported.

Given the pace of development of central bank currencies, several countries may launch one in the next five to seven years, according to First Deputy Governor Olga Skorobogatova, RT said.

“Then we can deal with direct integration issues. In this case SWIFT it may not be necessary, because it will be a different kind of technological interaction”

Skorobogatova said at a meeting last week, RT reported.

SWIFT is a messaging network that banks and other financial institutions use to securely transmit information and instructions via codes. It enables cross-border payments along with other services between more than 10,000 financial institutions in countries around the world.

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Digital Yuan and e-Krona: the revolutions of China and Sweden

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Both were two of the most talked about topics of this decidedly surprising 2020 for the cryptocurrency industry. They have a common feature: they have not yet seen the light of day, although they are in advanced testing phases. 2021 could be the year of its launch and, in any case, it will be something that can change the financial and cryptocurrency sector.

Let’s start by saying that what we call Digital Yuan should actually be called DC / EP, an acronym for Digital Currency Electronic Payment. It is a “cryptocurrency” that will be issued directly by the Chinese central bank (PBoC, People’s Bank of China), it will serve mainly as a means of payment. It is not a real cryptocurrency, but a digital currency. Cryptocurrencies, in fact, by definition, are pseudo-anonymous and decentralized, that is, without an entity that controls them. The digital yuan, in contrast, is issued by a central entity that can track movements and transactions, presenting a serious problem: user privacy.

Anyway, China is testing it in order to digitize the payment system, in addition to reaching the so-called no bank account.

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XRP Hangs While SEC Officially Files Charges Against Ripple

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XRP ( XRP-USD ), the third largest cryptocurrency in the world, lost nearly a third of its value on Wednesday, when investors responded to official accusations from the United States Securities and Exchange Commission (SEC) alleging that the token is an unlicensed bond.

The SEC filed lawsuits on Tuesday against U.S. company Ripple, whose founders created XRP. Two Ripple executives also face charges.

The SEC alleged that Ripple and its executives sold unlicensed securities, violating the rights of investors in the lawsuit. The watchdog said the group had illegally raised $1.3bn (£968m) since 2013 by selling XRP tokens without SEC authorization.

Read the entire story at: finance.yahoo.com.

Tokens And Accounts In The Context Of Digital Currencies

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Understanding the context in which tokens are referred is important for understanding digital currencies. The purpose of this note is not to propose new terminology or definitions, but to provide guidance that can help prevent potential confusion or lack of communication in the use of the terms 'token' and 'account'.

The first section of this note explains how the cryptocurrency community addressed the concepts of tokens and tokenization. The second section examines the domains of the payment economy and central banks, and discusses tokens in the context of CBDC. The note concludes by highlighting some problems with the dichotomy 'tokens vs. accounts' and the potential challenges that may arise as a result of the continued use of these ambiguous terms.

The broad adoption of the ERC-20 standard probably helped shape the notion of a 'cryptocurrency token' as a custom asset issued on top of a blockchain through the use of smart contracts. Other blockchain platforms that followed Ethereum's example by offering flexible programming capability, such as Eos, Cardano, Tezos and Stellar, allow the issuance of custom assets that the cryptocurrency community calls tokens.

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The Euro Is The Best Of The Worst In Reserve Currencies

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Record levels of central bank liquidity and government stimulus during the global pandemic have expanded currency supply, which weighs on the purchasing power of fiat currencies. A fiat currency has only the faith and full credit of the countries that print the currency with legal course as collateral. The foreign exchange market measures the value of one currency in relation to others. Therefore, it is a challenge to see the overall impact of the devaluation on the fiat currency. The moves against gold, Bitcoin and other tangible assets provide some insights.

We saw the U.S. dollar, the world reserve currency, fall from its highest level since 2002 in March to the lowest since 2018 in December. The euro is also a reserve currency. As we move towards 2021, the outlook for the value of the euro against the US dollar looks optimistic. The Currency Invesco shares the Euro Currency Trust (NYSEARCA: FXE) moves up and down based on the value of the euro against the US dollar.

It is not uncommon for governments to manage currency levels through a coordinated intervention process. When a currency falls for technical or fundamental reasons, intervention to facilitate the fall provides stability. Foreign exchange markets tend to trend for long periods, and price spikes are a rare exception. Therefore, the level of price manipulation is high because governments can justify intervention. Meanwhile, all signs point to a general erosion in the value of the asset class.

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Bitcoin Advantages Over Traditional Payment Methods

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Government-issued paper bills often accumulate in your wallet and coins can tinkling into your purse. Bitcoin can avoid this annoyance as it has no physical form. Since it works exclusively through technology, it uses specialized storage called digital wallet or Bitcoin. These digital wallets are accessible through smartphones or personal computers with Internet access, making them convenient and easy to use.

Bitcoin is digital money that uses technology to process transactions. Instead of spending half the day at banks, remittance centers or other payment service providers, you can complete transactions with just a few clicks on your phone or laptop! That way, you can send or receive money easily and quickly - if not instantly.

Third-party service providers often charge certain fees, which vary depending on the value, currency, location, and purpose of the transaction. Although there are still charges on BTC transactions, they are much cheaper because Bitcoin eliminates intermediaries. So if you are planning to send money locally or abroad using your BTC, be sure to look for platforms that offer much cheaper or free.

Read the full story at: vizaca.com.