Connect with us

Blockchain

Bermuda partners with Stablehouse to launch stimulus token

Bermuda has just launched a stimulus token that would pull the country out of the jaws of the economic decline caused by the coronavirus pandemic. In the full report, it says that the country presently has no framework or plans to launch a Central Bank digital currency but is ready to go ahead and issue […]

Republished by Plato

Published

on

Bermuda has just launched a stimulus token that would pull the country out of the jaws of the economic decline caused by the coronavirus pandemic.

In the full report, it says that the country presently has no framework or plans to launch a Central Bank digital currency but is ready to go ahead and issue a stimulus token. 

To bring the token to life, the country was said to have teamed up with a private company that deals in the issuance of stablecoins. Taking to Twitter, David Burt, the Premier of Bermuda lauded the move as one that showed the great part of what fintech could do to turn an economy around. 

He also noted that this partnership will bring about the next level payments method to the citizens of Bermuda as well as open up opportunities to entrepreneurs.

Development of stimulus token rushed up

According to the report, the stimulus token was launched in conjunction with a stablecoin powerhouse, Stablehouse, that deals in the facilitation of payments, and is renowned around Bermuda. 

The token which has been in the works since the start of 2019 was rushed up to serve its purpose to the citizens of the region. With the lockdown in place, the country made use of the tokens as a means to help people who were hit by the lockdown that was enforced to control the spread of the virus. The new token would receive a high rate of patronage in a country that does 99% of its activities with the internet.

Stimulus token pilot test ongoing

If the pilot test is complete, the government of the island nation plans to extend the use of the stimulus token across all parts of the nation. Even if there is maximum success in terms of the pilot test, the government has reiterated that they have no plans to produce a digital currency in the years to come. 

Presently, the pilot test is going on in three different locations across the country with sales merchants and individuals taking charge of the tests. In a bid to ensure security in storage, the token would be shared on the green wallet which was developed by the same company.

Source: https://www.cryptopolitan.com/bermuda-stablehouse-launch-stimulus-token/

Blockchain

YFI and UNI are now available for trading on CoinJar!

Republished by Plato

Published

on

We’re excited to welcome the following ERC-20 tokens YFI and UNI to the CoinJar lineup!

From today, DeFi tokens: YFI and UNI are now available to buy and sell through the CoinJar platform, joining our already great line up of digital currencies that members can send, receive and store using CoinJar.

These tokens will also be automatically added to new purchases of the CoinJar ERC-20 and CoinJar Universe Bundles. Existing owners of these bundles will not be impacted.

yearn.finance (YFI)

YFI, an ERC-20 token, is the governance token of yearn.finance. Yearn.finance is a platform built to utilise other DeFi services (such as Uniswap) for the purpose of simplifying the use of yield farming and maximising its effects.

You can learn more, view live prices, and purchase YFI here.

Uniswap (UNI)

UNI is the governance token of Uniswap, introduced on Sept. 17, 2020. The Uniswap exchange takes the form of two smart contracts hosted on the Ethereum blockchain and an open source front-end client. Uniswap’s uniqueness is defined by its use of Constant Function Market Makers rather than a typical order book.

You can learn more, view live prices, and purchase UNI here.

Happy Trading!

Source: https://blog.coinjar.com/yfi-and-uni-now-available-for-trading-on-coinjar/

Continue Reading

Blockchain

Five Reasons Ethereum Has Entered a New Bull Market

Republished by Plato

Published

on

Ethereum is currently retracting sharply from its previous and 30-month peak of $620. Even with a decline of around $100 to today’s prices of $525, ETH is still up over 300% since the beginning of the year.

The confirmed genesis of the long-awaited Beacon Chain, which is Phase 0 of the even longer awaited Serenity ETH 2.0 upgrade, has no doubt driven momentum but it is not the only strong point for Ethereum.

Over 5 Reasons to be Bullish on Ethereum

DTC Capital’s Spencer Noon has pulled out a few key charts to back up the notion that we are definitely in a bull run for Ethereum.

Active addresses on the network are the first metric as it now has just under 500,000 per day. This is almost double what it was at the same time last year.

In terms of fees paid, Ethereum dwarfs everything else in the crypto space with 80 billion gas now being used on a daily basis. The analyst exclaimed that this is;

“A clear sign that it is the most useful network in the world.”

Over $16 billion in stablecoins have now been issued on Ethereum, a figure that has gone parabolic since the start of this year which is a sign that there is a major demand for digital dollars.

The DeFi effect has been huge as, despite a number of rivals and ‘killers’ emerging this year, Ethereum remains the foundation of the entire ecosystem. Ethereum’s largest use case has gone parabolic as there are now ten times more DeFi users than there were a year ago.

Total value locked across the DeFi space has surged almost 2000% since the beginning of 2020 to reach $14 billion with five billion dollar plus protocols which is a sign that the space is maturing.

And There’s More …

The amount of Bitcoin tokenized on Ethereum is also at record highs with 152,000 BTC, or $2.7 billion worth at today’s prices wrapped on the Ethereum network.

The DEX effect cannot be overlooked either as decentralized exchanges on Ethereum have done $20 billion in volume over the last 30 days. This has brought their combined total to $86 billion this year;

“A sign that DEXs can compete with the top centralized exchanges.”

As reported by CryptoPotato, Ethereum social sentiment and searches are also at their highest levels since early 2018 as the mainstream media and the masses start paying attention.

This latest pullback may settle below $500, but there is little doubt it will provide a buying zone for ETH which still has a long way to go.

SPECIAL OFFER (Sponsored)
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.

You Might Also Like:


Source: https://cryptopotato.com/five-reasons-ethereum-has-entered-a-new-bull-market/

Continue Reading

Blockchain

Coinbase CEO Fears Rumored Regulations Proposed By The Trump Administration

Republished by Plato

Published

on

Coinbase’s CEO Brian Armstrong has sent a letter to the US Treasury Secretary Steven Mnuchin regarding new rumored regulations on self-hosted cryptocurrency wallets. Armstrong believes that if implemented, the new legislation could harm users and, ultimately, the role of the US in the cryptocurrency financial field.

New Regulations On Self-Hosted Crypto Wallets?

The CEO of the largest US-based digital asset exchange took it to Twitter to outline the potential importance of these regulations if indeed implemented. The rumors indicate that the current Treasury Secretary Mnuchin plans to make them official before the end of his term.

Armstrong explained that self-hosted cryptocurrency wallets (also referred to as non-custodial or self-custody wallets) are “a type of software that lets individuals store and use their own cryptocurrency, instead of needing to rely on a third-party financial institution.”

They enable users to access basic financial services through this technology – “just like anyone can use a computer or smartphone to access the open market.”

Should the proposed regulations become official, they would require financial institutions, including Coinbase, to verify the recipient (owner) of the self-hosted wallet. Meaning, it would collect identifying information on that party before completing the transaction.

According to Armstrong, such requirements would lead to several potential issues because “it is often impractical to collect identifying information on a recipient in the crypto-economy.”

Some of those issues could affect users that send cryptocurrencies to various merchants online or to other people in emerging markets, where “it is difficult or impossible to collect meaningful know-your-customer information.”

Even simpler transactions like upvoting some content on Reddit or transferring an item in a game would also require the verification of the recipient, which makes the process prolonged and complicated.

The US Will Suffer The Most

Armstrong believes that the impact of these “barriers” would prompt US-based users to initiate fewer transactions. This would “effectively create a walled garden for crypto financial services in the US, cutting us from innovation happening in the rest of the world.”

US customers would turn to foreign cryptocurrency companies to access such services, which could put the country’s status as a financial hub at risk in the long-run.

“If this crypto regulation comes out, it would be a terrible legacy and have long-standing negative impacts for the US. In the early days of the internet, there were people who called for it to be regulated like to phone companies. Thank goodness they didn’t.” – added Armstrong.

He also asserted that Coinbase and other cryptocurrency companies have sent a letter to the Treasury last week to articulate these concerns. However, he hasn’t specified if the Treasury has responded in any way yet.

Featured Image Courtesy of Observer

SPECIAL OFFER (Sponsored)
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter CRYPTOPOTATO35 code to get 35% free bonus on any deposit up to 1 BTC.

You Might Also Like:


Source: https://cryptopotato.com/coinbase-ceo-fears-rumored-regulations-proposed-by-the-trump-administration/

Continue Reading
Blockchain5 days ago

Comptroller of the Currency Seeks to End Sector-Based Discrimination from Banks

Home4 days ago

TramsToken (TRAMS): A Rising Star of the Fast Moving DeFi Space

Blockchain4 days ago

Crypto.com Launches Visa Cards for Canadians

Blockchain3 days ago

Ethereum 2.0 All Set For December 1st Launch As ETH Rallies Past $600

Blockchain2 days ago

Bithumb Temporarily Shuts Down Some Offices As Korea Faces Another Possible COVID-19 Outbreak

Blockchain4 days ago

Crypto.com Launches Visa Cards for Canadians

Blockchain4 days ago

The BitPay Black Friday Deals are Here!

Blockchain5 days ago

South Africa’s FSCA issues draft declaration on crypto-assets

Blockchain5 days ago

Bitcoin’s 14% Weekly Increase Eyes the ATH: The Crypto Weekly Market Update

Blockchain5 days ago

Here’s what you should know if you HODL or trade Bitcoin

Blockchain5 days ago

The word ‘decentralized’ has lost all meaning — Enough is enough

Blockchain4 days ago

Polkadot Aims to Become The New Home for The $14 Billion DeFi Industry

Blockchain4 days ago

Crypto Investment Manager DAiM Launches Company-Sponsored Bitcoin 401(k) Retirement Plans

Blockchain4 days ago

Launchpool Project Launches to $84M in Volume

Blockchain4 days ago

TA: Bitcoin Trades Below 100 SMA, Why BTC Could Face Short-term Dips

Blockchain4 days ago

Ethereum (ETH) Clears $600, Making A Retest Of All-Time Highs Imminent

Blockchain2 days ago

Blockchain-based voting systems have potential despite security concerns

Blockchain2 days ago

6,700 investors lock $10.5M in Oasis Network’s token-drop

Blockchain2 days ago

Bithumb Temporarily Shuts Down Some Offices As Korea Faces Another Possible COVID-19 Outbreak

Blockchain11 hours ago

ViaBTC launches new cloud mining service with BTC and ETH contracts available

Blockchain11 hours ago

Five Reasons Ethereum Has Entered a New Bull Market

Blockchain5 days ago

Bitcoin Has a Higher Market Cap Than All Public Companies But 17

Blockchain5 days ago

Crypto Investment Manager DAiM Launches Company-Sponsored Bitcoin 401(k) Retirement Plans

Blockchain5 days ago

Cybercriminals attack GoDaddy-based cryptocurrency platforms

Blockchain4 days ago

Ethereum’s Buterin responds to Blockstream COO’s ‘sh*tcoinery’ remark

Blockchain4 days ago

Ripple price rejected at $0.5 after a remarkable rally, what next for XRP?

Blockchain4 days ago

Bitcoin Price Prediction: BTC/USD Takes a Breath between $17,700 and $18,800 Price Range

Blockchain4 days ago

Polkadot Aims to Become The New Home for The $14 Billion DeFi Industry

Blockchain4 days ago

Crypto.com Launches Visa Cards for Canadians

Blockchain4 days ago

Over $200 Million Has Been Stashed Into Ethereum 2.0 Staking Contract

Trending