Daily News Digest Featured News

Monday March 4 2019, Weekly News Digest

Ripple

News Comments

United States

International

European Union

APAC

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News Summary

United States

Coinbase’s Ripple Coin Listing Already Sees XRP Trading Volume Surpass Bitcoin Cash (Bitcoin Exchange Guide), Rated: AAA

Earlier in the week, an official notification from Coinbase stated

“After 10 am on February 25 2019, we will begin accepting inbound transfers of XRP to Coinbase Pro. We will accept deposits for a minimum of 12 hours prior to enabling full trading. Please note that inbound transfers require the specification of an XRP destination tag.”

Following these developments, the coin quickly climbed to be one of the top 5 traded assets on the platform. In terms of trading volumes, post revel, the exchange has seen a total of $67 million worth of trade of BitcoinEthereumLitecoin, and XRP, in that order. In less than a week the cryptocurrency has overtaken Bitcoin Cash with a little nearly $4.5 million worth of trade, accounting for almost 10 percent of their daily transactions. Not too shabby for a coin listed less than a week ago. XRP, with a value of $0.31, will now look to usurp Litecoin but has a fair way to go to overtake its $9.6 million trade worth.

Forbes: “Ripple is a scam”; The community fights back (Chepicap), Rated: AAA

Forbes recently found themselves the subject of ridicule and persecution at the hands of the XRP army, when one of their writers casually indicated that Ripple may be a scam…

The writer in question, Jason Bloomberg (we’ll refer to him as Jason, rather than Bloomberg to avoid any confusion) recently authored an article on the recently announced (and highly maligned) JPM Coin.

Within the article, certain parallels were drawn between JPM’s latest venture and Ripple themselves. However, rather than positing JPM Coin as competition to Ripple, Jason simply dismissed Ripple as an outright scam – seemingly through conjuncture and without any real explanation given.

Ripple

XRP Is Officially Supported On Crypto Exchange Coinhako Backed By Bitcoin Billionaire Tim Draper (Oracle Times), Rated: A

XRP adds a new name on the list of crypto exchanges that support the digital asset.

Coinhako crypto exchange was founded in Silicon Valley back in 2014 by Yusho Liu who was the CEO and Gerry Eng the CTO.

Ripple Triumphant In Latest US Securities Class Action (Chainbits), Rated: B

The U.S. District Judge of the Northern District of California named Phyllis Hamilton ruled recently that a class action lawsuit filed against the payments firm – including its affiliated individuals and subsidiaries – should not be transferred all the way back to the lower courts. The decision came after lawyers for the aforementioned company first moved directly to district court in 2018.

Some of the world’s biggest internet messaging companies are hoping to succeed where cryptocurrency start-ups have failed by introducing mainstream consumers to the alternative world of digital coins.

The internet outfits, including Facebook, Telegram and Signal, are planning to roll out new cryptocurrencies over the next year that are meant to allow users to send money to contacts on their messaging systems, like a Venmo or PayPal that can move across international borders.

Regarding Facebook’s cryptocurrency (TechCrunch), Rated: A

If Bloomberg and the New York Times are to be believed, later this year Facebook will introduce a cryptocurrency which will allow WhatsApp users to send money instantly. Yes, that’s right: Facebook. Cryptocurrency. Earthquake! Revolution! The world is tilting on its axis! The end times are cometh!

Except – um – what exactly are people going to do with FaceCoin, once they receive it?

Crypto startup Circle seeks $ 250m in funding (Yahoo! Finance), Rated: AAA

Goldman Sachs-backed crypto finance venture, Circle, is looking to raise about $250 million in a combination of equity and debt, The Information reports.

Another Bitcoin Indicator Signals Price Bottom May Be Forming (CoinDesk), Rated: AAA

The money flow index (MFI), also known as the volume-weighted relative strength index, is used to identify buying and selling pressure and oscillates between zero to 100. A rising MFI indicates an increase in buying pressure, while a falling MFI is considered a sign of increasing selling pressures.

Essentially, the MFI validates or confirms price trends. Many times, however, the indicator diverges from the prevailing market trend.

For instance, BTC dashed hopes of a long-term bullish reversal with a break below $6,000 on Nov. 14 and hit a 15-month low of $3,122 on Dec. 15. The 14-week MFI also nosedived from the high of 43.00 in mid-November, confirming the sell-off in prices.

The indicator, however, bottomed out with a higher low at 22.00, contradicting the lower low in bitcoin’s price.

Bitcoin weekly

If History Repeats Itself, Bitcoin (BTC) Market Cap Could Surge to Over $ 7 Trillion During Next Bull Run (NewsBTC), Rated: A

Following last week’s increased levels of volatility, Bitcoin (BTC) is now nearing the end of a relatively involatile weekend, and it has further established that it is currently caught in a tight trading range between $3,800 and $3,900.

Although the persisting bear market has led the sentiment of crypto investors to near rock bottom, one analyst is now pointing out that if history repeats itself, Bitcoin may surge as high as $300,000 during the next bull run.

Bitcoin market
Source: @TraderScarface on Twitter

Bitcoin: About time to move (FXStreet), Rated: A

The next move should be on the upside if the pattern holds true to itself. The breakout point of this pattern would be around $4,200 and would result in prices rallying up and beyond $5,000 and two key hurdles in its way up would be 200 days SMA and EMA.

Source: FXStreet

Over 150k Bitcoins Accumulated by Bitcoin Whales in 60 Days (Coin Central), Rated: B

This is according to Weiss Ratings. The financial research firm which specializes in asset rating reports that an eye-watering 150,000 bitcoins have been accumulated by crypto whales within the past 60 days. The current valuation of these holdings is at $570 million.

Even Crypto Haters Feel That Adoption Is Inevitable: Bitcoin Venture Capitalist (NewsBTC), Rated: A

Over cryptocurrency’s ten-year history, this space has been beaten to hell and back by skeptics who don’t think (or don’t want) the innovation to succeed. Yet, one Bitcoin-friendly venture capitalist claims that there’s an inevitability to the crypto space. Better yet, he remarked that even those sardonic towards this space have an inkling of a feeling that this paradigm-shifting innovation could potentially garner traction the world over.

Litecoin (LTC) Price Analysis: Risk Of Further Losses Before Rebound (Ethereum World News), Rated: AAA

After a steady rise above the $45.00 resistance, litecoin price faced sellers near the $50.00 level against the US dollar. The LTC/USD pair started a major decline and broke the $47.50 support level to move into a bearish zone.

Looking at the chart, LTC price failed to climb above the $49.50 and $50.00 resistances. A swing high was formed at $49.11 and later the price started a downward move. It broke the $48.00 support and the 23.6% Fib retracement level of the last wave from the $42.36 low to $49.11 high.

Litecoin
Source: Ethereum World News

Explained: How Litecoin Mining Works? (Coinnounce), Rated: A

Anyone in the world can be a Litecoin miner by configuring the right Hardware – Hardware and Software.
Litecoin is slightly different from other mining operations and uses a unique scrypt – based mining algorithm.
Antminer L3 plus or L3 plus, a very powerful ASIC Scrypt minerusing Scrypt is a popular option for Litecoin mining.

Scammers, Satoshi and Tesla Miners: Elon Musk’s Complex Relationship With Crypto (CoinTelegraph), Rated: AAA

Last week, technology entrepreneur and Tesla CEO Elon Musk said that Bitcoin’s (BTC) structure is “quite brilliant,” adding that digital currency is “a far better way to transfer value than pieces of paper.”

Notably, that was perhaps the most straightforward comment on cryptocurrencies and blockchain from Musk so far, as he normally tends to avoid the topic. However, there have been a few encounters between the tech mogul and crypto to date — after all, given Musk’s previous experience at PayPal, he couldn’t pass up the innovative digital payment method.

Here’s how his relationship with crypto has evolved since 2014, when he made his first public comments about Bitcoin.

“LIGHTNING FAST” THUNDERCORE BLOCKCHAIN RAISES $ 50 MILLION (ICO Examiner), Rated: A

ThunderCore, a technology company based in Sunnyvale, California, has raised $50 million to fund the development of its “lightning fast blockchain platform.”

Investors from the U.S. and Asia, including Pantera, Huboi Capital, Arrington XRP Capital, and Kinetic have bought into the project.

MyCrypto CEO Weighs in on Rising Toxicity in Ethereum Community (CCN), Rated: A

CCN spoke to the CEO of MyCrypto, Taylor Monahan, about the recent departure of Ethereum community leader Afri Schoedon. Schoedon played a crucial role in the development of Parity wallet but has now sworn off Ethereum development after a meme made him the subject of targeted harassment.

An In-Depth Look at Ethereum’s Maker and Dai Stablecoin (Bitcoin.com), Rated: A

The following is an overview of how dais are created within a network called the Maker DAO and why some cryptocurrency enthusiasts seem to like the concept better than its fiat alternatives. But there’s also a slew of critics who dislike the Maker project for a multitude of reasons that could theoretically hurt a few individuals’ dreams of the perfect stablecoin backed by crypto assets.

‘Ethereum is not a valuable network except for experimenting’ (Chepicap), Rated: B

Donald McIntyre, the former vice president of giant financial institutions Morgan Stanley and UBS, said that the second most popular cryptocurrency, Ethereum, is only good for testing and demonstrating what doesn’t work.

According to Cryptoglobe, the former business development manager at ETCDEV, a company that focuses on contributing to the ongoing development of Ethereum Classic, said that Ethereum is not a valuable network except for experimenting.

5 Essential Tips for Preparing Your Cryptocurrency Taxes (CCN), Rated: A

Paying taxes on Bitcoin and other cryptocurrencies is becoming a priority for individuals in the US after the IRS announced on July 2nd, 2018 that one of their core campaigns and focuses for the year is the taxation of virtual currencies.

  1. KEEP A RECORD OF EVERY EXCHANGE WHERE YOU HAVE BOUGHT OR SOLD CRYPTOCURRENCY
  2. MAINTAIN RECORDS OF ANY CRYPTO THAT YOU RECEIVED AS INCOME
  3. LEARN HOW TO CALCULATE GAINS AND LOSSES ON BITCOIN AND CRYPTO INVESTMENTS
  4. SPEAK WITH A CRYPTO TAX SPECIALIST
  5. SAVE MONEY ON YOUR US TAX BILL BY REPORTING YOUR CRYPTO LOSSES

Banks are treating digital currency firms and the cannabis industry in equal measure (Cryptoline News), Rated: A

Despite leading banks slowly taking steps towards cryptocurrencies, the banks are not comfortable offering banking services to digital currency firms. According to the report, traditional financial institutions are avoiding crypto firms in the same way they have been avoiding the cannabis industry.

No bank is willing to help them [digital currency firms] out. I have met some really stand-up people in crypto that don’t deserve such a bad reputation and want the sector to be regulated, yet for every one of those, there are plenty of others trying to scam the public, launder money or evade taxes.

Report suggests QuadrigaCX deposited ETH in different cryptocurrency exchanges (AMBCrypto), Rated: A

According to a report by ZeroNonCense, a cryptocurrency research and consulting platform, the Ethereum [ETH] from the controversial Canadian crypto-exchange QuadrigaCX were deposited in several top crypto-exchanges.

The report claimed that the recipient exchanges were Kraken, Bitfinex, and Poloniex. These claims have also been attested to by Taylor Monahan, the CEO of MyCrypto and Kraken’s Jesse Powell.

International

Top 5 Crypto Performers Overview: Binance Coin, Bitcoin SV, Ripple, Dash, Litecoin (CoinTelegraph), Rated: AAA

Binance Launchpad platform has concluded a successful salhttps://blockchaintimes.news/?p=12369&preview=true#heading-45https://blockchaintimes.news/?p=12369&preview=true#heading-45e of the Fetch.AI (FET) token within 22 seconds on Feb. 25. This shows that there is market demand for what Binance Launchpad does.

A few weeks back, a similarly successful sale of Tron-based BitTorrent token (BTT) had completed in 15–18 minutes. In order to speed up the launch of its mainnet, Binance is handing out rewards for testing the company’s new decentralized trading platform Binance DEX. Binance Coin (BNB) has benefitted from these positive headlines.

The BNB/USD pair has risen by almost 174 percent from its early-December lows.

BNB
Source: CoinTelegraph

BSV/USD

Bitcoin SV (BSV) was the second-best performer of the week. It rallied sharply on Feb. 25 and 26 as the cryptocurrency got listed by payment processor CoinGate, as well as by a Turkish exchange Vebitcoin.

LTC/USD

LTC
Source: CoinTelegraph

XRP/USD

Ripple (XRP) got listed on the Coinbase Pro trading platform on Feb. 25. On Feb. 28, Coinbase announced support for the digital currency on its retail platform and mobile apps.

XRP
Source: CoinTelegraph

Binance Research Claims JPMorgan Token to Spark Mass Adoption Despite the Lack of Public Offer (The Oofy), Rated: A

Binance Research stated in one of their latest publications that the new JPMorgan token can in many ways push cryptocurrency and blockchain towards mass adoption, given the fact that JPMorgan is one of the largest financial institutions with 6 trillion dollars in assets on daily basis.

However, JPMorgan is less likely to affect the stable coin market with their token, as the upcoming token is not designed to match the philosophy of crypto assets as we know – instead, the stable coin made by JPMorgan will rest on a private blockchain network and it represents a permissioned blockchain environment.

Bitcoin (BTC) Payments at Chess.com Temporary Suspended (Ethereum World News), Rated: A

Because of “super frustrating” KYC requirements and  BitPay $10 limit, 27,324,757 members of Chess.com will now have to pay their membership plans with fiat and other alternatives, not Bitcoin. The temporary decision to suspend payment with the world’s most liquid and superior currency was made by the CEO, Erik Allebest.

CoinBase Executive: We Have Neutrino Because Providers Were Selling Client Data (Ethereum World News), Rated: B

But, it is emerging that CoinBase, the US Exchange that is one of the few exchanges to wade off hacks, acquired Neutrino–a Blockchain intelligence company, because providers were selling customer information to third parties. In an interview, Christine Sandler, the CoinBase Head of Marketing, the executive gave reasons saying:

“It was important for us to migrate away from our current providers. They were selling client data to outside sources and it was compelling for us to get control over that and have proprietary technology that we could leverage to keep the data safe and protect our clients.”

European Union

Ethereum (ETH) Price Prediction: At Risk Of Further Declines (Blockonomi), Rated: AAA

Ethereum price failed to climb above the $142.00 resistance and declined below $134.00. ETH/USD is currently trading below $130.00 and it could continue to slide in the near term.

  • Ethereum price topped near the $138.00 level recently and declined below $134.00.
  • ETH/USD is trading below a crucial resistance at $134.00 and a bearish trend line on the 30-minute chart.
  • The price could correct higher, but it is likely to face sellers near $133.65 and $134.00.
Ethereum
Source: Blockonomi

Ethereum Creator Vitalik Buterin Compares Bitcoin and Ethereum (Crypto-Economy), Rated: A

Have you ever wondered the difference between Bitcoin – the flagship cryptocurrency – and Ethereum – the leading altcoin by market capitalization? Well other than the obvious inspiration that Bitcoin was to Ethereum, the two blockchains couldn’t be any more dissimilar. In a recentinterview with Business Insider, Ethereum creator Vitalik Buterin makes a pretty accurate description of both blockchains and how they are worlds apart from each other.

Ethereum Foundation Director Sets New Vision for Blockchain Non-Profit (Coindesk), Rated: A

“When the Ethereum Foundation was founded, the Ethereum Foundation was ethereum. People in the Foundation were the ones that were building ethereum. Now, that’s not the case.”

That’s Aya Miyaguchi, executive director of the Ethereum Foundation, the non-profit organization founded and dedicated to the continuing development of the world’s second-largest blockchain by total value.

Since Miyaguchi’s appointment in early 2018, however, the ethereum platform has faced severe market turmoil, with the price of the blockchain’s native cryptocurrency, ether, dropping from a high of roughly $1,100 in early 2018 to roughly $130 today. Further, it’s seen rising competition in the form of new blockchains touting more advanced smart contracts and more sustainable decentralized application infrastructures.

Crypto exchange Binance announces $ 100k rewards in tokens for testing Binance DEX (The News), Rated: AAA

Crypto exchange Binance announces $100k rewards in tokens for testing Binance DEX

Cryptocurrency exchange Binance has announced a trading competition in order to increase awareness of its decentralized trading platform Binance DEX.

Binance Coin Price Rises Slightly While Other Markets Remain Subdued (Null TX), Rated: A

It is very difficult to determine which – if any – projects one should invest in in the cryptocurrency world. Since all markets are on very wobbly legs since late 2017 there is no guarantee of making a profit whatsoever. Binance Coin is perhaps one of the more solid choices, as it is tied to the world’s largest cryptocurrency exchange. Moreover, its use cases also transcend the platform itself.

With these most recent price gains in the books, BNB is firing on all cylinders again. A 1.7% increase in USD and BTC value has shown some sign of promise. There is also the 2% increase in BNB/ETH, although fewer people care about that. With the Binance Coin price now sitting at $11.51, or 298,613 Satoshi, the current momentum looks rather promising.

Binance CEO ‘CZ’ Wants Warren Buffett To Take On BNB For These Reasons (ZyCrypto), Rated: A

Following Warren Buffett’s most recent interview with CNBC’s Becky Quick, where he talked about blockchain’s importance and Bitcoin lacking inherent value, Changpeng Zhao aka CZ, the CEO of the leading cryptocurrency exchange Binance has recently just implied that the native coin of Binance exchange [BNB] has the potential to dominate the financial world as opposed to Bitcoin and as such Buffet should give it a chance.

MinerGate Will Support Monero (XMR) Hard Fork (MinerGate), Rated: B

United Kingdom

Payglobal Provides Cryptocurrency to Fiat Transfers With Existing Bank Cards (Bitcoin.com), Rated: AAA

There’s a new service available throughout the European Union, Australia, Singapore, Mexico and Nigeria that allows users to transfer cryptocurrency to fiat and load their existing bank cards. Payglobal, headquartered in the U.K., allows registered customers to receive funds through bank transfer, debit card, alternative payments and digital currencies bitcoin core (BTC) and ethereum (ETH). Giora Tal, Payglobal’s CEO, told news.Bitcoin.com that other cryptocurrencies will be added in the future and the company will also be expanding to other countries. The firm believes that individuals will appreciate a turnkey e-wallet solution that supports conversions from cryptocurrency to fiat money and transferred onto existing bank cards.

Cudo Miner brings easy Grin crypto mining to the masses with its latest GUI miner (Coin Rivet), Rated: B

Cudo Miner, the crypto mining software application, today released the latest version of its graphical user interface (GUI) miner with added support for Grin, the private and lightweight implementation of the Mimblewimble blockchain. Users will be able to mine Grin through Cudo’s powerful and simple to use Cudo Miner software.

China

Ant Financial Establishes a Blockchain Subsidiary in Shanghai (Crowdfund Insider), Rated: AAA

On February 25th, Ant Blockchain Technology (Shanghai) Co., Ltd. was unveiled in Huangpu District, Shanghai. The new business entity has a registered capital of 100 million yuan, and is 100% owned by Hangzhou Ant Future Technology Co., Ltd., a wholly-owned subsidiary of Ant Financial.

The business scope of Ant Blockchain includes: software development, big data services, computer software, and hardware sales, computer information engineering, computer information technology, network technology development, technical consulting, technical services, technology transfer, and financial consulting.

APAC

Facebook Is Developing a Cryptocurrency for WhatsApp Transfers, Sources Say (Bloomberg), Rated: AAA

Facebook Inc. is working on making a cryptocurrency that will let users transfer money on its WhatsApp messaging app, focusing first on the remittances market in India, according to people familiar with the matter.

The company is developing a stablecoin — a type of digital currency pegged to the U.S. dollar — to minimize volatility, said the people, who asked not to be identified discussing internal plans. Facebook is far from releasing the coin, because it’s still working on the strategy, including a plan for custody assets, or regular currencies that would be held to protect the value of the stablecoin, the people said.

Thai SEC Actually Banned BCH, LTC, and ETC For ICO Investment (Inside Bitcoins), Rated: AAA

A special association that watches over securities and exchanges in Thailand has also been tasked with regulating the cryptocurrency scene in the country. Called Thai Securities and Exchange Commission (Thai SEC), this regulatory agency decides whether a new asset will be allowed to be used in an ICO investment round or not.

The following statement was extracted from the announcement by the Thai securities regulator: “This latest update has resulted in the total of four cryptocurrencies for ICO investments and base trading pairs, namely (1) Bitcoin (BTC), (2) Ethereum (ETH), (3) Ripple (XRP) and (4) Stellar (XLM). Also, three other cryptocurrencies have been removed from the list, namely (1) Bitcoin Cash (BCH), (2) Ethereum Classic (ETC) and (3) Litecoin (LTC).”

DigixDAO Reaches Market Cap of $ 31.42 Million (DGD) (Fairfield Current), Rated: A

DigixDAO (CURRENCY:DGD) traded 2.7% lower against the US dollar during the twenty-four hour period ending at 19:00 PM ET on February 24th. One DigixDAO token can currently be purchased for approximately $15.71 or 0.00408085 BTC on major cryptocurrency exchanges including BigONE, Cobinhood, HitBTC and Binance. Over the last week, DigixDAO has traded 3% higher against the US dollar. DigixDAO has a market cap of $31.42 million and $456,985.00 worth of DigixDAO was traded on exchanges in the last 24 hours.

Erik Zhang on NEO 3.0: Could NEO be the Number One Blockchain by 2020? (Cryptosumer), Rated: A

After a rousing introduction to NEO DevCon 2019 by platform co-founder Da Hongfei on the evolution towards a smart economy, Erik Zhang joined the 500-or-so-strong audience via video link to talk about how NEO aims to build out its vision of the future. His presentation focused on proposed techniques to improve the overall efficiency of the NEO platform.

MultiVAC Launched Testnet 1.0 “Phoenix”, World’s First Fully-Sharded Blockchain (PR Newswire), Rated: A

Public blockchain MultiVAC formally launched its first testnet named “Phoenix” at the end of February 2019. As MultiVAC’s 1.0 testnet version, “Phoenix” is already developed with core modules including shard generating and splitting, Byzantine consensus family, storage nodes, and simple communication mechanism. It is also equipped with an all-dimensional sharded base-layer in terms of computation, storage, and transmission. Users can view transaction and block generating process via the blockchain browser.

These Three Blockchain Projects to Receive Public & Private Investment (Cryptonews), Rated: A

The South Korean government will team up with a consortium of domestic companies to funnel a combined USD 7.7 million into three blockchain projects – a used car trading platform, a financial services project and a platform for charity donations.

Per KiNews and iNews24, the Ministry of Commerce, Industry and Energy and the Korea Internet Development Agency (KIDA) will provide USD 4 million in funding, with the remainder coming from 24 private sector consortiums comprising some of the country’s biggest conglomerates and banks, as well as crypto exchange operators, domestic venture companies and blockchain startups – making for a total of 80 companies.

Blockchain isn’t the only choice for bankers in the APAC (Techwire Asia), Rated: A

However, it’s important to remember, blockchain isn’t the only solution for bankers in the APAC — which is what IDC Financial Insights’ AVP Michael Araneta explained to Tech Wire Asia at the 2019 Asian Financial Service Congress.

Truth be told, several banks have already taken the plunge into blockchain solutions and started working on prototypes and moved into the proof of concept stage but the question that Araneta asks them is this: Is the (disruptive) move is really necessary?

Litecoin Creator Charlie Lee and VNX Exchange to Host Litecoin Meetup at Asia Crypto Week (PR Newswire), Rated: B

Litecoin Creator, Charlie Lee, is set to co-host Asia’s inaugural Litecoin meetup with Alexander Tkachenko, Founder and CEO of VNX Exchange, a new digital asset marketplace, on March 14, in the city of Hong Kong. The meetup, expected to welcome over 200 community members and enthusiasts from around the globe, will explore topics from mass adoption to democratizing financial markets. This event also includes an all-star panel discussion including Charlie Lee, Creator of Litecoin; Alexander Tkachenko, CEO and Founder of VNX Exchange; William Peets, Chief Investment Officer of Passport Digital Holdings; Cristian Gil, Co-founder of GSR; and Chris Lee, CFO of Huobi Group.

Latin America

The Argentinean Crypto Market Defies Crypto Winter (Coin Central), Rated: AAA

The trend began last year when the country’s inflation rate reached a record 47 percent. The figure is still a fraction of the 84 percent peak experienced in 1991, but enough to alarm the citizenry. Consequently, more Argentines are seeking refuge in cryptocurrencies, with Bitcoin being the most popular.

Current statistics indicate that there has been a significant upsurge of cryptocurrency trades in the country. Weekly trades on the P2P crypto trading platform LocalBitcoins currently average over 6.5 million Argentine pesos. This is according to CoinDance estimates. Trade volume has been climbing steadily since December 2017 and peaked at just over 9.4 million pesos a week towards the end of last year.

Argentina crypto market
Source: Coin Central
Caribbean

The Bahamas to introduce blockchain central bank digital currency (finder), Rated: AAA

  • The Central Bank of The Bahamas has announced the creation of a central bank digital currency (CBDC).
  • The ongoing popularity of cash and cheque in The Bahamas, even where bank transfers are available, necessitates CBDC.
  • Signs suggest the digital currency will be built on public blockchain architecture.

The Central Bank of The Bahamas has announced “Project Sand Dollar,” a pilot program for its upcoming blockchain-based central bank digital currency.

Bahamas banks
Source: finder.com.au

Authors:

George Popescu
George Popescu
Allen Taylor
Allen Taylor

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Allen Taylor

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