Blockchain Center Miami Celebrates in Style with Big Crypto Community Gathering

Blockchain Center Miami Celebrates in Style with Big Crypto Community Gathering

If you are based in Miami and you are interested in the blockchain world, we have good news for you. The Blockchain Center Miami has been finally inaugurated after months of planning. The center is set to be an important blockchain hub for the people of South Florida.

The building where the Blockchain Center Miami is based is on downtown Miami and it is set to serve as a venue for events in the community.

This new space was launched with a party full of drinks and food. There was even a DJ (DJ Yissel), according to the organizers of the event. The party attracted a lot of people from the local industry who were curious to see what the new place was all about.

Even the mayor of Miami attended the event, which can be considered a success. He cut the ribbon in order to inaugurate the place and presented the directors of the new center with a Certificate of Recognition.

As announced by the press release, the core team of the new blockchain center will include names such as Nick Spanos, Eryka Gemma Flores and Scott Spiegel. The organization will be focused on both global and local blockchain events and will cater to the local Florida crypto communities.

This is not the first blockchain center created by Spanos, though. Far from that. He first launched one back in 2013 when Bitcoin was not even five years old. The first center was located in New York and this story is featured on Banking on Bitcoin, a documentary that you can see on Netflix right now.

The New York-based center is located only 100 feet from the New York Stock Exchange, so you can bet that it is pretty well located (and that Spanos has a lot of money to invest).

During the launch, Spanos affirmed that one of the goals of the new center is to help to “unleash the minds” of Latin American youths. As you may know, Florida has a large Latin American population, so he is interested in influencing them.

Flores also talked about the launch, which she described as “exciting and surreal”. She affirmed that even as the company is pushing the decentralization of the world forward, having a physical space is very important because they are changing the narrative and creating important opportunities for the locals.

After the party happened, an afterparty event exhibited the Banking on Bitcoin movie, which was seen by the people present on a massive screen that was also able to see be seen from the street. The idea was to also involve the people passing on the street. In the future, a screen will show the projection of crypto price movements and news.

The organized also affirmed that the new center was created to be the go-to Bitcoin-related place for events in the city and the surrounding region. Not only it has a nice view but it also has offices and even entire floors that can be rented by local and international crypto companies that might want to use the space.

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Author: Gabriel Machado

Facebook Libra Cryptocurrency vs Kik KIN Digital Asset: A Look at Two Tokens Side by Side

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  • Kik and Facebook seem to have similar interests
  • Both companies want to improve their revenue model

Facebook has recently released the Libra cryptocurrency, which aims at improving Facebook’s presence in the financial system. In order for users to use the new digital asset, they will have to install the wallet Calibra, which is expected to be released to the market in 2020. There have been several backers and partners behind the launch of this digital asset and project, including PayPal, MasterCard or Mercado Libre, among others. Now, there are several analysts trying to understand which are going to be the effects of this announcement in the crypto market and in the largest digital assets.

Facebook’s Libra Vs Kik’s Kin

There is another digital currency that was launched by another messaging application. Tech Crunch wrote an article in which they compare Kik’s Kin, which is also a social network. A short time ago, Kik was in the news due to a current U.S. Securities and Exchange Commission (SEC) lawsuit that targeted Initial Coin Offerings (ICOs), and Kik ran one in 2017. According to the regulatory agency, Kik’s $100 million ICO was illegal because it was not registered with any agency.

At Creative Destruction Lab’s Super Session, Ted Livingston, the CEO of Kik, said that Kin was originally created to address the challenges that Kik had. Although Kik never achieved the scale of Facebook, it had moments of impressive success in terms of the number of users in the community. One of the main differences that this network has with Facebook is related to the fact that Kik never pursued an aggressive ads-based campaign.

The CEO of Kik explained that Kin made sense because it was an effective and easy way for people on the platform to exchange value. As per Darrell Etherington, the author of the article at Tech Crunch, the major difference between Facebook and Kik is the scale of their companies.

Kik needed a digital currency as soon as possible, this is why they’ve decided to start an Initial Coin Offering and gather funds. Meanwhile, Facebook was able to bring into their network collaborators that were able to work on the digital asset they released. They also have the possibility to keep expanding their business model through advertising.

As the author explains, both Kik and Facebook were searching for a new revenue model other than advertising, which could make their businesses much more sustainable and palatable to consumers.

Facebook will have to prove that their digital currency is able to fulfill the expectations that the market currently has. They might be able to help users around the world have access to financial services and allow them to transfer value as they send or receive a text message. Now it is just time to see which is the effect that Facebook’s Libra is going to have in the space.

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Author: Carl T

Ripple Announces New Strategic Partnership With MoneyGram (MGI)

Ripple Announces New Strategic Partnership With MoneyGram (MGI)
  • Ripple signs new partnership with MoneyGram
  • Using xRapid MoneyGram will leverage XRP to have faster and cheaper transactions

Ripple has just signed a new strategic partnership with MoneyGram, one of the largest money transfer companies in the world.

Through this partnership, Ripple is expected to become MoneyGram’s partner for cross border payments and exchange settlements using virtual currencies. The information was released by Ripple in a recently published statement.

Ripple Announces Partnership With MoneyGram

As per the announcement made by Ripple, during the next two years, Ripple will be providing MoneyGram with cross border trading services and foreign exchange settlement through digital assets. At the same time, Ripple has decided to provide a capital commitment to the company, allowing them to draw up to $50 million in exchange for equity.

Through this partnership, MoneyGram will be using the xRapid product developed by Ripple to reduce the reliance on pre-funding bank accounts. Funds would be sent from one currency and settled in another currency in other countries.

The xRapid product uses the XRP digital asset in order to make fast and cheap transfers. XRP is one of the most efficient digital currencies for settlement with transaction fees that are just fractions of a penny.

MoneyGram Chairman and CEO, Alex Holmes, commented about this partnership:

“Through Ripple’s xRapid product, we will have the ability to instantly settle funds from US dollars to destination currencies on a 24/7 basis, which has the potential to revolutionize our operations and dramatically streamline our global liquidity management.”

At the moment, MoneyGram is operating in a $600 billion global remittance market and it has served millions of customers in different countries around the world. MoneyGram relies on traditional foreign exchange markets in order to be able to meet its market obligations.

After the announcement released by Ripple, the price of the XRP digital asset moved over 5% from $0.43 to $0.45.

A few weeks ago, several rumors spread regarding Ripple purchasing MoneyGram. It seems that Ripple had something prepared, and this partnership seems to be very important for the future of the third largest digital asset.

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Author: Carl T

Wirex WXT Token Launches with Emphasis on User Rewards Rather than Fundraising Method

Crypto Payment Company Wirex Adds 10 New Fiat Currencies In Major Update

Many private firms have launched their own native tokens for a number of reasons such as giving their customers access to certain services and as a means of fundraising through ICOs and so on.

Everyone from cryptocurrency exchanges such as Binance who launched their native BNB token to large banks such as JPMorgan announcing their own JPM coin this year, it seems many firms are seeing the benefits of getting in on the cryptocurrency game and are launching their own tokens.

The latest of these is Wirex who announced on June 10, 2019, that they will be launching the Wirex native WXT coin which is their first native cryptocurrency. Wirex is a crypto and fiat payments platform and according to the official statement, the purpose of the coin is that it is is to designed to help users access unique rewards and save on fees.

The New Token

In the official announcement of the Wirex token, it was also stated that the launch would help the company achieve its ultimate goal which is “[democratizing] access to fast, low-cost international remittance and empower retail and corporate customers to use their cryptocurrency in day-to-day life.”

Wirex also launched their own debit card in the past which allows users to make both fiat and crypto payments all in one which has become quite popular with even Coinbase announcing the launch of their own card recently.

According to their CEO Pavel Matveev, “we believe that the nascent token economy will eventually replace conventional fiat currency as the dominant form of payment.”

“The Wirex Token helps us integrate with the payment environment of the future and offer users a convenient, fast, and cost-efficient way to move digital money across borders.”

The WXT tokens themselves will be sold and distributed through an ICO via OkEx’s jumpstart program. The first public sale will take place on June 26, 2019, and during that time only 1 percent of the total WXT token supply will be available to buyers and will also be sold on a first-come-first-serve basis for one cent per token.

In order to be eligible to participate in the sale and purchase tokens, buyers will need to have a verified Wirex account and must make a purchase of at least $25 in WXT with a maximum cap of $10,000.

Most times, when an initial coin offering is held by a company, the end goal is to raise funds but the management of Wirex has stated that this is not their goal in this case.

“Token sales are usually fundraising exercises. This is not Wirex’s top priority, which is why we’re only putting 1% of the total token supply up for sale during the IEO,” a company announcement said. “Ultimately, the long-term success of Wirex and the eventual adoption of a token economy are our primary concerns.”

Despite this, an exclusive IEO sale will take place on the wireless platform on June 13, 2019, and during that time two million worth of the token will be sold.

While some customers might have wanted to take advantage of this, the announcement stated that the sale is already overbooked though Wirex is always happy to talk to investors.

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Author: Tokoni Uti

Crypto Exchange CoinGate Sees Ripple XRP Payments Doubling Since February; Adoption Setting In?

Crypto Exchange CoinGate Sees Ripple XRP Payments Doubling Since February; Adoption Setting In?
  • CoinGate shows XRP payments have increased significantly since February 2019.
  • The digital currency provides many benefits to users including near instantaneous cross-border transfers.

CoinGate Informs XRP Transactions Grow

According to a recent report released by CoinGate, XRP usage continues to rise. The virtual currency is being used by crypto users in order to process cross-border payments. Other financial companies are also embracing the digital asset.

CoinGate informed that they have been processing XRP payments for merchants since February 2019. The number of people buying things with XRP has also been increasing every month. The main question asked by CoinGate is whether XRP is becoming a crypto for payments.

XRP Transfers Settled Faster Than BTC Transactions

The data provided shows that in February, the number of XRP purchases was 388, in March grew to 551 and continued the uptrend in April and May with 705 and 718 transactions each month respectively.

Compared to Bitcoin (BTC), XRP provides users with a fast and cheap way to process payments. While the Bitcoin network does not allow users to send micropayments as easily, it is possible to do so with XRP. Nonetheless, Bitcoin developers are currently working on the Lightning Network (LN) that is expected to help Bitcoin scale and process a larger number of transactions for low fees.

It is also worth mentioning that transactions on the XRP Ledger have remained stable since February until May. Last month, transactions moved from 392k transactions per day (TPD) to 979k TPD. Meanwhile, Ethereum (ETH) transactions have also grown during the same period of time. Bitcoin and Litecoin transactions remained without change since February.

Ripple Working With Financial Firms Throughout the World

Ripple has also been working on different partnerships with companies around the world, including bank and other financial firms that want to reduce costs and transaction times when processing cross-border payments.

Now it is possible to send XRP through the Money Message feature on Gmail. Moreover, the XRPTipBot is also helping individuals to send and receive XRP through different social media networks, including Discord, Reddit and also Twitter.

Currently, the third largest digital currency in the market has a price of $0.4112 and a market capitalization of $17.37 billion. In the last 24 hours, XRP lost 2.35% of its value.

All of Today’s Ripple (XRP) Price Analysis, Chart Forecasts and Industry News

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Author: Carl T

Expert Believes Petro Cryptocurrency Is Helping Venezuelan People Bypass Sanctions

Expert Believes Petro Cryptocurrency Is Helping Venezuelan People Bypass Sanctions
  • Cryptocurrency adoption is steadily increasing in Venezuela.
  • The South American nation’s citizens have suffering from one of the worst economic crises in history with the Bolivar becoming practically worthless.

Venezuelan Petro Moves Towards A New Phase

The Petro is now accepted in many shops in the country, according to Ricardo Baptista, the director of the Latin American Cryptoeconomy Corporation, the Venezuelan government wants to help the economy by promoting the use of virtual currencies, including the government-backed Petro.

The goal is to solve the many problems that the current Venezuelan economy is experiencing.

Using Virtual Currencies In Order to Circumvent International Sanctions

Mr. Baptista explained that the government of Venezuela is currently promoting the use of virtual currencies in order to improve its economy. The main goal is to avoid the negative effects of a massive blockade on the Venezuelan economy. Using virtual currencies, the country is able to evade these sanctions.

He has also mentioned that virtual currencies are now being used by the Venezuelan population and are starting to think in a different way the financial culture they have.

On the matter, he commented:

“Our currency, the bolivar, has been hit hard and what we are looking for is that financial technology is that the bolivar has a value, not on paper, but as a digital asset.”

During a conversation with the radio show “A tiempo,” which is broadcasted by Unión Radio, he said that cryptocurrency adoption was growing in the country due to the proliferation of different businesses and content distribution companies. Indeed, digital assets are currently being used for online payments, purchases and more.

The country is experiencing a very hard crisis in which individuals are not able to have access to basic goods and other services. Cryptocurrencies could have a positive effect on the economy and the population that is living in a very difficult situation.

The government has decided to create a digital currency called The Petro that tried to diminish the effects of these sanctions on the population. Although it has not been used for a long period of time and many experts believe that it was never going to be used by people in the country, it seems that there are some individuals already using it.

As reported by José Antonio Lanz, a Venezuelan crypto journalist, there are some businesses that have implemented the currency and it can be traded in six local exchanges. At the moment it is not possible to provide a positive future for the digital currency since the United States has imposed strict sanctions against those who deal with the virtual currency.

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Author: Carl T

G20 Leaders Request Multilateral Regulators And Recognize Crypto Benefits to Economy

G20 Leaders Request Multilateral Regulators And Recognize Crypto Benefits to Economy
  • G20 participants request regulators to have a multilateral approach towards digital assets
  • G20 countries request regulatory agencies to pay close attention to virtual currencies

Finance ministers of the G20 are requesting the Financial Stability Board (FSB) to monitor the risks related to cryptocurrencies.

The request was made on June 9 through a document published on the website of Japan’s Ministry of Finance. The goal is to have larger control over the crypto space.

Cryptocurrencies Must Be Controlled

The G20 leaders signed the document that requests institutions and regulators to control virtual currencies and take the appropriate measures for them to operate in the market. The leaders requested the FSB and other agencies to monitor risks and consider work on additional multilateral responses.

At the same time, the statement says that technological innovations such as blockchain technology are able to deliver significant improvements to the financial system and the economy. Back in July 2018 in Buenos Aires, the G20 leaders wrote a very similar phrase to this one.

The authors of the paper were also worried about some negative effects of virtual currencies. About this issue, they wrote:

“While crypto assets do not pose a threat to global financial stability at this point, we remain vigilant to risks, including those related to consumer and investor protection, anti-money laundering (AML) and countering the financing of terrorism (CFT).”

The document requests parties to adop the Financial Action Task Force’s (FATF) Interpretative Node on cryptocurrencies. Moreover, they participant leaders were open to apply teh amended FATF standards for virtual currencies.

It is also worth mentioning that the document states that finance ministers and central bank governors welcome the work related to cryptocurrencies that is conducted by international organizations.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Carl T

Mainstream Opportunity for Cryptos: Aussies Can Now Pay Bills with Cryptocurrencies via Cointree

Crypto enthusiasts in Australia now have everything to smile about after they were handed a massive opportunity to pay their bills using cryptocurrencies. Aussies can now pay bills via over 100 cryptocurrencies.

A Mainstream Opportunity

As one of the objectives of making cryptocurrency payments a daily option for folks and businesses, an intelligence bill payment solution, Gobbill, and crypto exchange platform, Cointree, has publicized a way of making bill payments through cryptocurrency.

The ‘pay any bill with any coin’ service is a fully standardized method for domestic as well as the local industries.

Currently, it’s directing a pilot to pay BPAY bills with several recognized coins including Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and XRP. The move is undoubtedly a massive mainstream opportunity for cryptos in the country in which the crypto sphere has highly welcomed.

According to Jess Renden, operations manager at Cointree, the firm had received several requests for a bill payment mechanism via crypto. After the experimental stage, ETH, BTC, and BCH can as well be used by Aussies for making bill payments. Cointree expanding the service across their crypto portfolio sees it offer the largest selection of cryptos to pay bills across the APAC region.

Furthermore, it will offer the lowest fees in the market for bill payments when compared with similar services currently charging even 4.2% for a bill payment.

Promising Use Cases

According to Jess Renden, the early use cases were promising with a plethora of individuals as well as businesses turning to the service and putting crypto assets into some practical use.

Perhaps, the service is easy as well as a safe way of using cryptocurrency given the massive utility for personal as well as business transactions. The service will significantly reduce fraud hence ensuring the security of the members.

Undoubtedly, it’s a significant step in the right direction for cryptocurrencies, and perhaps realizing mass adoption sooner than expected. Considering the recognition given to Cointree in Australia as the safest as well as trusted blockchain businesses, who knows maybe paying bills in the country may soon turn to be entirely in cryptocurrency.

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Author: Ali Q

Tether Tops Bitcoin’s Trading Volume Again as USDT Plays Its Part in ‘2019 is the Year of Stablecoins’ Motto

Tether-Tops-Bitcoins-Trading-Volume-Again-as-USDT-Plays-Its-Part-in-2019-is-the-Year-of-Stablecoins-Motto

The speculation that 2019 will be the year for all stablecoins seems to have begun already as Tether (USDT) recorded transaction volumes matching the ‘King Coin’ Bitcoin (BTC).

On the 28th of May 2019, the cryptosphere witnessed USDT’s 24hr transaction volume surpass that of Bitcoin (BTC) by about $1 billion, USDT recorded a volume of $27.2 billion, while BTC saw a volume of $26.7 billion.

Factors Of The Fall And Rise Of USDT

This hike in Tether trading volume came as a surprise to most as the stablecoin struggled out of the crypto winter. The main cause of this was the recent scandalous Bitfinex and Tether legal issues, which caused a drop in USDT user confidence and investor trust.

The present Tether surge is possibly linked to their announcement of the printing USDT worth about $300 million and also an improved effort to introduce new ICO listings as well as new trading pairs to attract potential new cryptocurrency enthusiasts.

‘whale trading’ could also be a factor to this Tether surge, which could also lead to a huge drop in the future.

Notably, a Twitter user, @lawmaster, a crypto researcher tweeted :

“Something really interesting is happening – there is now a 0.6% discount on Tether, which means that Tether is actually more expensive than USD on all the major exchanges. This started happening late at night yesterday and the discount has been sustained since”

USDT May Surpass BNB

Although Tether has not given any official statement about the stablecoins trading predictions, there is obviously a rise in the stablecoin market.

If the stablecoin keeps on the current rising path, there is a possibility of USDT taking the position of the Binance Coin (BNB) as the 7th largest digital currency on Coinmarketcap.

[Author Alert] The author’s opinions above are solely based on their own self-conducted research. Assume any and all authors are using, holding, trading and/or buying cryptoassets mentioned as a portion of his or her financial portfolio. Use information at your own risk, do you own research, never invest more than you are willing to lose.

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Author: Osahon Okodugha