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Topics - G.Belaci

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Banco Santander, the Spanish multinational banking giant is looking to expand its international payments solutions One Pay FX to 19 more countries around the globe. Launched in 2018, One Pay FX is a cross-border payments app and is popular for same-day international payment settlements.

The One Pay FX platform uses Ripple’s blockchain-based RippleNet payments solution for instant processing and payment settlements. Ana Botin, the executive chairman at Banco Santander said that it has initially deployed the payment solution in United Kingdom, Brazil, Poland, and Spain.

One Pay FX Chief Technology Officer Ed Metzger said that being part of the RippleNet payment ecosystem has helped the platform to develop sustainable relationships with financial institutions from around the world.

During the official announcement on Thursday, July 09, Metzger said: “Ripple helps us address some of those pain points that we have seen in the past with some of our customers, and that’s around being able to generate that certainty and that transparency along the transaction so that we can show that to our customers. When they’re making their payment, they can see how much is going to arrive, and they’ve got that certainty about the timing as well.”

Having tasted success for its remittance services between the U.S. and Mexico, last week Ripple announced that it will expand its remittance corridors to APAC region.

On the other hand, using RippleNet for its global services will allow Banco Santander to defend its position against a growing number of FinTech startups like TansferWise and TransferGo.

Speaking about their strong partnership with Ripple, Metzger said: “We want to be at the forefront of the merging of finance and technology. But our innovation is always customer led. Customers told us that the international payments process could be better so we partnered with Ripple to explore how blockchain could make transactions faster, cheaper and more transparent.”

He further added: “We’re looking to expand One Pay FX to new territories and customer segments so more people can benefit from faster, cheaper and more transparent international payments. The partnership with Ripple is key because our success so far gives us the confidence to move ahead even faster. It’s not just the technology. Being part of RippleNet has helped us to forge sustainable and scalable relationships with other financial institutions around the world. By offering more customers a better way of sending money abroad, we’re achieving our goal of helping people and companies prosper.”

Source: WorldCoinIndex

Crypto Discussion / Winners of today
« on: July 14, 2020, 10:00:47 AM »

Todays winners according to WorldCoinIndex contain non top 10 coins. Still there are some interesting coins in this list.

With the cryptocurrency market continuing to make progress over the last decade, popular crypto exchanges and companies continue to expand their services in the crypto space.

In one such move, popular cryptocurrency exchange is now mulling for a stock market public listing ahead this year. Citing sources familiar with the matter, Reuters reported that Coinbase can opt for a listing as early as this year. This will make Coinbase as the first U.S. crypto exchange to go public, said people familiar with the matter.

Of course, Coinbase will mandatorily need to go through all the regulatory process and seek approval from the U.S. Securities and Exchange Commission (SEC). In case, Coinbase gets a go ahead from the SEC, that would set a new benchmark and encourage other crypto companies and advocates to join the mainstream financial market.

The sources added that Coinbase could proceed for a listing later this year or early next year. However, they added that these plans are subjected to change ahead. Coinbase has not disclosed any of its intentions to go public so far. But the sources said that the company has been in active hiring of law firms and investment bankers.

On the other hand, the SEC has been much critical about cryptocurrencies while strongly insisting that many of them actually fall under the category of securities. When it comes to public listing, Coinbase is one among many of those first companies to do so.

Over the last year and two, Coinbase has also put major focus on offering institutional products and services to its clients. The company has also managed to get the necessary regulatory approval to handle services like the institutional-grade cryptocurrency custodial solutions.

After its last fundraising in 2018, Coinbase valuations stood at $8 billion. Sources familiar with the matter said that Coinbase might opt for a direct public listing instead of going through the traditional route of opting for an IPO.

In a direct listing, the company doesn’t sell additional new shares as in case of an IPO. Besides, all the existing investors have some lock-up restrictions on when they can divest their holdings after the public listing.

Coinbase is one of the world’s largest global cryptocurrency platforms in the market with over 35 million active users.

Source: WorldCoinIndex News

Crypto Discussion / Winners of today
« on: July 13, 2020, 01:04:28 PM »
No winner from the top coins today.

Source: WorldCoinIndex Trending

Crypto Discussion / Winners of today according to WorldCoinIndex
« on: July 09, 2020, 11:54:51 AM »
If I had only had bought some Tagz5.

It looks like the People’s Bank of China (PBoC) is all set to test its central bank digital currency (CBDC) - Digital Yuan - in its market. In a major development Chinese ride-hailing giant DiDi announced that it is now developing a task force to implement the Digital Yuan use on its platform.

A spokesperson from Didi said that the company has entered into a strategic partnership with the Digital Currency Research Institute of the People’s Bank of China (PBoC). This move is an effort to accelerate the real-life application of the CBDC, known as Digital Currency Electronic Payment, or DCEP.

In its official statement, the company said: “Under PBoC’s overall DCEP strategy and operation timeline, DiDi’s DCEP taskforce will design and implement pilot DCEP projects in accordance with rigorous safety, security and governance standards. The partnership is a key milestone in DiDi’s ongoing initiatives to enhance the interconnectivity of online and offline economic sectors in China, as the government seeks to support the development of the real economy sectors with innovative financial services”.

As per the data from CB Insights, Didi is the world’s second-highest-valued unicorn startup valued at $56 billion and with over 550 million users across Asia, Latin America and Australia. Called as the Uber of China, its major services include public transportation and food delivery. The company also plans to release over 1 million self-driving cars in the market through its autonomous subsidiary, by 2030.

With such a massive user base of Didi, the PBoC can get a better understanding of the working of its CBDC. Besides, it will have enough data at hand to judge the project’s user-friendliness and how consumers are reacting to it. This, in turn, will help to set the stage for the pan-country launch its CBDC.

The Chinese central bank (PBoC) which is currently working with the Digital Yuan has also joined hands with multiple commercial banks and other technology giants for testing the CBDC. Reportedly, PBoC is also working with other commercial banks to test run a wallet application that will store, send, and receive the Digital Yuan.

As per the latest media reports, PBoC is conducting CBDC tests at some commercial shops like Subway, McDonalds, and Starbucks and has asked all government representatives to participate in it.

China has been Asia’s contender to work on a CBDC project and has accelerated all its developments over the last year. Another Asian economic giant - Japan - also plans to soon start testing the Digital Yen looking to the rising developments in global market.

Source: WorldCoinIndex

Investors holding privacy-centric digital currencies could soon be on the radar of the U.S’s top-most tax agency, the Internal Revenue Services (IRS). The IRS is now looking for tools that can trace privacy-centric digital currencies and some other off-chain transaction protocols like the Bitcoin Lightning Network.

In a pilot program initiated by the IRS Criminal Investigations Division, the agency issued a request for information (RFI). In the RFI document, the IRS explains:

"This RFI is associated with a pilot IRS Criminal Investigation Division (CI) program. CI Cyber Crimes is requesting information about systems that will allow developers and testers to conduct investigative research of distributed ledger transactions involving privacy cryptocurrency coins (e.g., Monero (XMR), Zcash (ZEC), Dash (DASH), Grin (GRIN), Komodo (KMD), Verge (XVG), and Horizon (ZEN)); Layer 2 off-chain protocol networks (e.g., Lightning Network (LN), Raiden Network, Celer Network); Side-chains (e.g., Plasma and OmiseGo); and tracing challenges following the integration of the Schnorr Signature algorithm.”

The IRS is looking for an interactive prototype with a graphical interface that lets it club transactions from a single user and help the associate “user distributed addresses with distributed ledger addresses” of any criminal suspects.

Besides, the IRS wants that the prototype should be able to disclose the suspects’ distributed ledger addresses. The prototype should do this by using open-source intelligence data allowing agents to share data between concerned agencies and export data to different file formats.

The RFI explains that acquiring applications to allow an investigation to more easily trace privacy coins and other protocols that provide anonymity to illicit actors would allow investigations to be more effective, as well as facilitate a higher level of deterrence by making it harder to conceal criminal activity. It also provides an investigative efficiency that is currently limited.

The IRS said that it already has a few investigative cases deployed to trace transactions. Speaking about the Layer 2 protocols like the Raiden and the Lightning Network, the IRS said "even though Layer 2 protocols have been dismissed by many in the investigative support community, there is clear evidence that this is a growing network.”

As crypto use and popularity continue to grow, the IRS is having a close watch on the new developments. The IRS has asked prospective bidders to submit their responses by the 14th of July.

Source: WorldCoinIndex

With governments across the globe working on a fiat-pegged digital currency, Canada’s central bank is now weighing options for its central bank digital currency (CBDC).

On Tuesday, June 30th, Timothy Lane - the Deputy Governor of the Bank of Canada - outlined different scenarios under which Canada might consider a central bank digital currency (CBDC). The governor said that the North American might consider a Digital Dollar imitating the traditional bank notes when it comes to accessibility and availability.

A group of experts is now considering the viability of such a project and if implemented, the CBDC will be available to people in urban, rural, and other remote communities without a bank account. It specifically aims to target people who are without bank accounts as well as to those who are partially sighted and blind.

Moreover, for maximum inclusion and accessibility, the central bank note says that it should include a CBDC which the Canadians can access regardless whether a person uses a smartphone or has access to the internet.

The Bank of Canada is currently conducting extensive consultations with its citizens and other groups to understand their needs and bring those implementations in its CBDC. Thus, the central bank is considering several options and will also release a prototype before the main launch.

Lane said that there’s still no compelling reason to have a CBDC in place. But he acknowledged that two main events can trigger the use of CBDC. One is the significant reduction in cash use or if any private stablecoin hits the market and raises the competition bar.

In a paper published by the central bank, it has outlined another scenario of having a foreign CBDC that facilitates the extensive cross-border use in Canada. The paper carries a small footnote which includes:

“Until now, examples where an alternative currency has challenged the dominant position of the official currency of a jurisdiction have been restricted to cases where the state was facing severe social and political stress from other sources. But this does not mean it would be impossible for modern technology to enable the establishment of a challenger currency in a stable, advanced economy.”

While major economies are closely observing the CBDC developments in China, Canada is more focused on what actions the U.S. has to take. Canada has a big trade with its neighboring country U.S. with more than 75% of the total exports to America and 50% imports from America.

Hence it is more likely that if the U.S. were to issue a Digital Dollar (USD), Canada could soon follow with its native CBDC release.


Crypto Discussion / Todays Winners and Losers
« on: July 01, 2020, 09:55:46 AM »
Todays Winners and Losers on WorldCoinIndex. There are still opportunities to make money with cryptocurrencies. Cloudbric which is ranked #370 on WCI has a 24volume of $482,21K.

Trading / Todays Gainers and Losers
« on: June 26, 2020, 11:52:56 AM »
Hi all,

Found these list of top 10 gainers and winners of today. I found it interesting and therefore I want to share with you.

Source: WorldCoinIndex Stats

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