BlackRock CEO Larry Fink Says Libra Is Not A Cryptocurrency, Wants Technology to Interchange Currencies


BlackRock is the largest money-management firm in the world with more than $6.5 trillion in assets under management and Larry Fink is their CEO with over a billion dollars of net worth. He appeared on CNBC recently:

Fink said many of his clients and hedge funds are taking risk off the table. However, he believes such a move is a mistake, and he advised investors to stay invested in stocks. He thinks that people are under invested in equities.

Fink indicated that there is a huge need to democratize the exchange of foreign currencies in cross-border transactions and to bring down the fees of the interchange. He showed that there is a huge problem when it comes to making cross border payments, claiming that people who are making cross border payments are paying a huge amount in fees to organizations charging from 5-10% on each transaction.

He said:

“I actually believe that the idea about libra — I don’t think we need to create a new currency, but the technology to instantaneously calibrate all the currencies. That should be done. You don’t need a libra. you have computers that can monetize and calibrate euro to dollar instantaneously for a couple of basis points.”

Fink was openly against bitcoin for a long time now. Calling out the whole asset class as illegal, he has cited three main concerns to back up his claim. The infamous unpredictable price swings, the mostly anonymous nature of the market and the unregulated playing field make him feel he has a case.

[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: Sritanshu Sinha

Ripple Executive: Mexico, Philippines Lead the Way for Demand in Cross-Border Remittances

Ripple Executive: Mexico, Philippines Lead the Way for Demand in Cross-Border Remittances

Ripple, the creator of the RippleNet and the XRP tokens (which are currently the 3rd largest cryptocurrency by market cap) are always on the lookout for new clients and partnerships. Because of this, the company has recently announced a new partnership with a company called MoneyGram.

This new partnership with the money transfer company based in Dallas will see Ripple investing $50 million USD in MoneyGram. This is being made to boost the use of RippleNet, the network of the company, which is mostly used for international payments.

With this partnership, Ripple would be able to increase the adoption of xRapid, one of its most popular for cross-border transfers. MoneyGram is a pretty established company that would help Ripple to upgrade the adoption of its products with time as the company is active in over 20 countries.

The vice president of product at Ripple, Kevin Mole, affirmed that XRP has a huge role in providing on-demand liquidity for markets and that this was a way for customers of the company to be able to send money to other countries with a fairly low cost and without having to pre-fund the destination accounts.

He affirmed that some of the other ways to send money to other countries are highly inefficient, so there is no reason why people should not change the kind of services that they are currently using.

According to him, on-demand liquidity is already available on both Mexico and the Philippines. These two countries are huge when it comes to receiving external remittances, he affirmed. Mexico received $31 billion USD last year while the Philippines were able to get $33 billion USD.

Because of this data, the company believes that the country holds a considerably big demand for services such as the ones being offered by Ripple. Also, many of these payments are made in order to cover necessities, so they can have a really high impact on the lives of these people.

Mole also affirmed that the company was able to settle payments in mere minutes while most of the other companies out there took sometimes even days. The cost is low and the impact is very big, so these markets are going to be considerably improved by being a part of the company’s targets for growth.

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Author: Gabriel Machado

Binance’s Crypto Exchange Market Share Continues to Grow Over Coinbase, Bitfinex and Kraken


Binance Becomes One Of The Largest Exchanges In Terms Of Market Share

  • Binance is the dominant crypto exchange in the market
  • With a friendly regulatory environment, the platform was able to reach a larger number of users

Binance, one of the largest virtual currency exchanges in the market, has registered an increase in the market share compared to other exchanges. According to a recent report released by The Block, Bittrex and Poloniex have seen large drops in their marketshares. This situation is related to the regulatory environment and how these platforms operate and deal with it.

Binance Surges As A Popular Exchange

There are different cryptocurrency platforms in the market, some of them provide users with different features and unique services. Others just offer a basic trading exchange for individuals and investors to have access to digital currencies.

In a recent report released by The Block, they show how Binance has been growing as a cryptocurrency exchange with a large market share. Exchanges such as Poloniex, Kraken and Bittrex have been losing their presence in the market due to different regulatory issues.

Poloniex was a very popular exchange for trading a large number of tokens while Coinbase was considered to be the exchange for dealing with the most popular cryptocurrencies, Litecoin (LTC), Ethereum (ETH) and also Bitcoin (BTC).

Binance expanded as a new option for trading digital assets launched by Initial Coin Offerings (ICOs) and other projects in the market. When the exchange was launched in 2017, Binance had less than 5% of the total share of the market. Bittrex and Bitfinex and Poloniex were the best performing exchanges at that time with a large share of the market.

In February 2018, Binance was able to surge and reach over 30% of the total market share, becoming the largest exchange in the space. Poloniex and Bittrex experienced a large contraction. Indeed, in March this year, Binance almost had 75% of the total market share, which is a very large number considering the other exchanges The Block analyzed are also very popular and recognized.

Binance has been working over the last few years in order to expand the services that it offers to users. They are not only offering a trading platform but they have a digital asset (Binance Coin or BNB), a decentralized exchange platform (DEX) and its own blockchain network. Moreover, the firm is also helping companies launch their own tokens through the Binance Launchpad platform.

One of the main reasons behind this drop in the market share of other exchanges is related to the regulatory issues that they have been experiencing over the last months. As Binance is trying to operate in very friendly places with clear crypto and blockchain regulations, Kraken, Bittrex and Poloniex follow regulations from the United States, that tend to be harder for them and their expansion plans.

In the near future, Binance is expected to release new stablecoins to the market and support a wide range of virtual currencies backed by fiat. This is in order to help users have more choices for trading.

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Author: Carl T

Tron (TRX) Crosses 450 DApps and Adds 20k Daily Active Users in Latest Report

Tron (TRX) Crosses 450 DApps and Adds 20k Daily Active Users in Latest Report
  • Tron dApps register the largest USD trading volume in the market
  • Tron continues to show its network is expanding

The Tron (TRX) ecosystem continues to expand despite a weak situation in the market last week. According to its weekly report, Tron shows that dApps have been registering a very good performance compared with Ethereum (ETH) and EOS.

Tron dApps Continue Growing

According to the dApp report, 16 new decentralized applications were added to the Tron network. That means that the number of total dApps on Tron moved to 463. At the same time, there was a surge in the number of daily users of 20,000. Other indexes related to the network remained stable compared to previous measures.

The most popular dApps were those related to gambling. Indeed, gambling decentralized apps were the top contributors to Tron’s network performance. As reported by dApp review, Tron registered the highest 24-hour volume in USD terms handling $11.11 million in traded volume. EOS had a volume of $9.96 million. Finally, Ethereum has a volume of $7.05 million.

As usual, Justin Sun commented about these achievements of the Tron network on Twitter. Mr. Sun is the CEO of Tron and BitTorrent.

Moreover, the dApp report introduced new decentralized applications, including TronFaucet and ToCandy. TronFaucet is a utility faucet token that provides free tokens to the community.

The application gives 10,000 sun that are worth 0.01 TRX to community members every 10 minutes in order to try the basic utility of different products on the network such as wallets, decentralized exchanges or dApps.

CoinMarketCap shows Tron is the 12th largest digital currency in the market with a price of $0.0299 and a valuation of $2 billion. In the last 24 hours, the virtual currency fell 7.74%.

[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

Defunct Mt Gox CEO Karpeles Launches Tristan Technologies to Create a Blockchain-Based OS

Defunct Mt Gox CEO Karpeles Launches Tristan Technologies to Create a Blockchain-Based OS

Mark Karpeles, the former CEO of the former largest Bitcoin exchange in the world, Mt Gox, has affirmed that now he has decided to “start from zero with a new company and a project that will be based on the blockchain technology. Karpeles will be the new Chief Technology Officer (CTO) of the company, which is registered as Tristan Technologies Co.

He just recently escaped from the case in which he was accused of being involved with the fall of Mt Gox, so he seems ready to start fresh now. Now, as reported by The Mainichi, Karpeles was in Japan when he affirmed that this new startup will have a very ambitious goal: to create a new secure operating system using the blockchain technology.

The idea is really very bold. This new blockchain-based system would be more secure and faster than the OSs we already use.

During the announcement, he said that he acknowledges that his reputation in the country may be somewhat tarnished, so he hopes to create some work which will be very important for Japan to take back its place as a tech leader, something which has been lost to the United States in the last two decades with companies like Apple, Facebook, and Amazon.

He said that Japan used to be one of the major countries before when it came to computers. However, the days have changed and today the U. S. dominates cloud technology, for instance, as well as the internet as a whole. He did affirm that he believed in Japan’s potential, though, so he was ready to fight in order to improve the country.

Karpeles also affirmed that the blockchain could change the world by creating cashless payments and cloud solutions, as well as smart contracts, which could improve our lives significantly.

During the announcement, he also talked about cryptos. He deems them as “highly risky” and said that he does not hold any crypto and also that he’s not really rich today, despite having an early career in crypto.

Karpeles Is Surrounded By Controversies

Despite the announcement and all the positivity surrounding it, Karpeles is far from a very beloved figure in the crypto space.

He is often associated with incompetence during his time as the CEO of Mt Gox, the crypto exchange which was hacked in the first half of the decade and had to shut down after 850,000 BTC were stolen from the company. At the time, Bitcoin was not really so valuable, so the 850,000 BTC was worth “only” $450 million USD.

Also, he was only recently cleared of charges of embezzlement and breach of trust because of the company. He was found guilty of manipulating the data from the exchange, though, for which he should be in prison for two and a half years, a sentence that was recently suspended for four years. He is going to appeal the conviction, though, but he’s going to jail if he doesn’t win.

Back in March, he affirmed that he was innocent of all charges and that he will prove it in court. So far, he has not been able of doing it.

Would You Trust Karpeles?

The main question now is: should we trust this man? The blockchain technology is only as trustworthy as the communities building it. If you create several backdoors or have malicious intent, the technology will not be safe at all. So, should we put our trust in a man that is convicted of fooling investors by adultering data?

Many Mt Gox victims are still struggling to get their money back, so it is hard to simply put our trust in this man again, which was described by The Mainichi as a genius who has come


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Author: Gabriel M

Facebook’s Aging Demographics Could Prove to be a Challenge For Company’s New Crypto Offering

Facebook’s Aging Demographics Could Prove to be a Challenge For Company’s New Crypto Offering

Facebook currently owns the largest social media platform in the world. This is pretty much enough in order to have a successful launch for the long-awaited Facebook Coin, right? Well, not so much, according to a new piece of research made by Diar.

The new currency created by Facebook is set to disrupt the global banking networks and to earn a lot of money for Facebook while doing so. By removing all the financial barriers and making some of the products advertised on the company cheaper, the idea is to take over the world, basically.

However, the new report from Diar poses an interesting question which should be taken into account in order to discover if Facebook has big chances or not. The fact is that the users of Facebook are continuously older as time passes. New generations are not as prone as the old ones to keep using the social media network.

This demographic could prove to be the largest challenge for Facebook so far, especially as the company is struggling to widen its reach. The main problem happens because older people are not so prone to know about cryptocurrencies and to be willing to use them as young ones.

According to the report, the most probable strategy that Facebook will use in its expansion is to target countries which do not have a very strong financial structure. This way, they will offer their token to people as an alternative in order to make payments online.

It is important to notice, too, that the so-called Facebook Coin (also known as Project Libra), will possibly be used on WhatsApp and Instagram, too, which changes the whole scenario, especially when you consider that the userbase of Instagram is considerably younger than Facebook’s.

Facebook Is Already Starting Partnerships To Launch New Token

Another important fact that should be taken into account is that Facebook is already moving major partnerships forward. The company is said to be currently dealing with the Western Union, which will possibly help Facebook in the future. Other rumors, however, affirm that the company is only consulting as part of its research to provide services for the unbanked around the world.

Facebook also met with representants of both Visa and Mastercard, the two largest payment processors in the world right now. Even the venture capitalist investor Tim Draper was consulted by the company. He is known as a major Bitcoin bull and a crypto enthusiast.

Last week, it was also reported that the giant of social media was talking with members from both Coinbase and Gemini, two prominent crypto exchanges in the U. S. market. According to anonymous sources cited by the Financial Times, Facebook has negotiated with the companies in order to ensure that its stablecoin has a peg to the value of the USD.

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Author: Gabriel M