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Payger at Blockchain For Finance Conference 2018

  I attended this year’s Blockchain For Finance 2018 event in Dublin’s Aviva Stadium, and on the Monday ahead of the conference, Dogpatch Labs hosted a pre-conference pitch session, and Founder and CEO Christoph Hering did a talk to the crowd of about 60 people in attendance on their payments & communication app Payger. The app combines an e-commerce solution, cryptocurrency wallet and chat app into one, and uses stablecoins on a blockchain. It’s core offering is enabling consumers and businesses to connect peer-to-peer to send money and messages and buy products and services. It’s hooked up to a marketplace

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I attended this year’s Blockchain For Finance 2018 event in Dublin’s Aviva Stadium, and on the Monday ahead of the conference, Dogpatch Labs hosted a pre-conference pitch session, and Founder and CEO Christoph Hering did a talk to the crowd of about 60 people in attendance on their payments & communication app Payger.

The app combines an e-commerce solution, cryptocurrency wallet and chat app into one, and uses stablecoins on a blockchain. It’s core offering is enabling consumers and businesses to connect peer-to-peer to send money and messages and buy products and services. It’s hooked up to a marketplace that has chat agents to allow people to connect with participating businesses, such as car rental companies. Payger is an open platform, enabling multiple service providers to group together their offerings, for instance a car insurance provider as well.

The wallet supports up to 50 cryptocurrencies and ERC20 tokens, with a focus on stablecoins such as tether which reduce the risk of price volatility. It aims to address some of the common pain points around transacting in general, and with cryptocurrencies, with a 10 minute transaction time, avoid commercial spam on the platform, high fees for using payment gateways and mediocre user interfaces. With the approach of using a stablecoin, it aims to enable companies to get around many issues which lead to poor merchant adoption, while also enabling companies and consumers to track spending and taxes, as well as strong GDPR compliant privacy, as well as private key management.

Their solution is to enable instant crypto payments backed by stablecoins, communciations secured by PGP encryption, and enabling consumers to permanently opt out of commercial messages and control their private data. It also manages the transfer and exchange of multiple cryptocurrencies in non-custodial wallets. With these options, it hopes to connect businesses, consumers and developers within a single marketplace.

The platform itself uses the Bitshares API, which can handle large volumes of transactions per second, and enable same-day settlement in a local stablecoin of choice for the mechant, with automatic conversions of bitcoin and ethereum, as well as bypassing the credit card network with the associated reduction in fraud and chargebacks.

The following day at the conference,  we caught up with Christoph at his booth to get a short demo of the (web based) platform. What he showed us was a functional browser based wallet (accessible at wallet.payger.com) and a woocommerce integrated site with some demo items for sale. The first thing I asked was about support for fiat currencies, given that for commerce cryptocurrencies are still a minority, and while there is no support at this time, it is planned to partner with a payment gateway to provide this, as well as to integrate a buy cryptocurrencies option within the wallet.

The app itself allows to deposit, withdraw and transfer up to 50 cryptocurrencies, and enables chat and sending of funds by a payger id, email address or phone number for inter-wallet transfers, as opposed to a long complex private key. The app plans to have an iOS and Android versions, as well as an API to enable developers to build out interfaces, as the platform is modular and has a white label option available.

I asked where Christoph sees the app in its development cycle, and he said they see it in a beta state, with functioning wallet, and an integration with woocommerce already live. Integration with a couple of stablecoins is also available, enabling those who do sign up and use it to get settled via stablecoins. Finally, I asked where the project was funded from so far, and he said that they ran a modest ICO in 2016 under the name Blockpay, and have used the funds to get the platform to the point it’s at.

For merchants or developers interested in signing up to the platform, you can visit https://payger.com

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Source: https://bitcoinsinireland.com/payger-at-blockchain-for-finance-conference-2018/

Blockchain

Indian Olympic Medal Winners to Get Free Bitcoin (BTC) and Ethereum (ETH)

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The cryptocurrency platform Bitbns intends to open a systematic investment plan (SIP) in digital assets for Indian athletes who win medals at the ongoing Tokyo Olympics. The exchange will reportedly grant around $2,700 in crypto for gold medal winners.

‘Faster, Higher, Stronger’ And Earn Crypto

The Economic Times reported that Indian athletes at the Olympic Games could receive cryptocurrencies as a gift if they manage to win a medal at the tournament in Tokyo.

The trading venue that will reportedly provide the offer is Bitbns. The first athletes that can get cryptocurrency exposure for free are the winners Mirabai Chanu and PV Sindhu. The former won a silver medal in 49 kg women’s weightlifting while the latter acquired bronze in the women’s singles badminton at the Tokyo Olympics.

Bitbns plans to roll out a SIP account and grant nearly $2,700 in digital assets for Olympic champions, $1,350 for silver medal winners, and $675 for bronze medalists. It will transfer the amount into their accounts, and after completing the Know Your Customer (KYC) norms, the athletes will have exposure to cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH).

The trading venue explained that it would structure the SIP for a 3-5 year period, and thus the medal winners will be able to generate profits in the long term through Bitbns. Gaurav Dahake – the Chief Executive Officer at the platform – noted:


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“Bitcoin and Ethereum have been the best-performing assets in the last decade, and have given exceptional returns and we aim to get our winners indulge in this rewarding journey.”

Indians Love Cryptocurrencies

According to a recent research, Indian residents increased their digital asset investments from $200 million in 2020 to $40 billion for the first six months of this year, indicating that their appetite for cryptocurrencies surged significantly.

What is even more impressive is that Indians, who are well-known gold admirers, started switching their investment strategies from the precious metal to virtual currencies. A local investor explained:

“I would rather put my money in crypto than gold. Crypto is more transparent than gold or assets and yields higher returns in a shorter period of time.”

The survey added that the number of people who trade cryptocurrencies in India is 15 million. It significantly surpasses a well-developed country such as the UK, for example, where 2.3 million individuals have entered the market. Sandeep Goenka – the co-founder of the platform ZebPay – revealed the reasons why the second-most populated country saw this massive increase:

“They find it easier to invest in crypto than gold because the process is so much simpler. You go online, you can buy crypto, you don’t have to verify it, unlike gold.”

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Source: https://cryptopotato.com/indian-olympic-medal-winners-to-get-free-bitcoin-btc-and-ethereum-eth/

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Coinbase halts Bitcoin SV trading after yet another 51% attack

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Bitcoin SV is in trouble once again after Coinbase announced that it will be halting BSV trading on the platform. This update came on the back of a string of attacks the network has been facing since late June. As per the announcement made by the exchange,

“Due to the 51% attack that has occurred on BSV today we are stopping all BSV trading.”

Bitcoin SV was the target of a massive 51% attack early on Tuesday, an attack which was called “the largest since launch” by Blockchair developer Nikita Zhavoronkov. He further claimed on Twitter that the reorganization was 100 blocks deep and wiped out 570k transactions.

The attack was first brought to the community’s notice by CoinMetrics’ Lucas Nuzzi. Arguing that “some serious hashing power” was unleashed on the network early on Tuesday, he revealed that up to three versions of the chain were being mined simultaneously across pools.

Coinmetrics later confirmed that the firm’s own blockchain security monitoring tool FARUM identified the attack.

The Bitcoin Association also confirmed the incident on Twitter, recommending node operators to mark the fraudulent chain as invalid. It’s worth noting, however, that at the time of writing, the Association had released yet another statement on the same.

It said,

“…. believes that this is the same attacker that previously initiated block re-organisation attacks against the BSV network on June 24 and July 1, 6 & 9, 2021.”

Coinbase’s action made waves in the community. However, such steps are perhaps routine for the network now. In the past, BSV has been dropped by top exchanges like Gemini and Binance. It also saw several exchanges block withdrawals and deposits for the asset as liquidity providers suspended access to the token’s liquidity. This was preceded by more attacks in the last week of June and the first week of July.

As far as Coinbase is concerned, the exchange is yet to reveal when it might restart trading services for Bitcoin SV. With many in the community at sixes and sevens, it’s unlikely it’s going to be anytime soon.

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Source: https://ambcrypto.com/coinbase-halts-bitcoin-sv-trading-after-yet-another-51-attack

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Looking To Pull An El Salvador, Spain Considers Bill To Allow Mortgage Payments In Crypto

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Looking To Pull An El Salvador, Spain Considers Bill To Allow Mortgage Payments In Crypto

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Cryptocurrency and blockchain are becoming quite mainstream as of this year and it’s likely that just about any financial transaction will be able to be completed via the use of crypto in the next few years. Of course, there are bodies pushing against the integration given the lack of regulations and the fact that it could help finance illicit acts.

However, the crypto wave is continuing to grow despite all of the recent adversity. And, according to Spanish paper 20 Minutos, Spain could begin to allow persons to pay their mortgages with crypto pretty soon.

The publication reports that Spanish lawmakers are perusing a proposal that would see to the above. The Digital transformation Law, as it’s called, would make it so that crypto and blockchain become legitimized, while tax incentives are being considered for institutions keen on working under the artificial intelligence umbrella, which would include blockchain tech.

Spain’s incumbent People’s Party is intent on having the country’s banking infrastructure catch up to the times in terms of tech and will promote the use of digital currencies, as well as various other transformative technologies. The proposal suggests that the country’s whole mortgage system should undergo reform, in addition to having crypto payments possible.

El Salvador Took The Lead

This comes on the back of El Salvador’s move to accept bitcoin as legal tender. The Central American nation is very pro-crypto in such regard and it appears they have set the stage for other countries to naturalize digital assets, so to speak.

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Where Spain is concerned, the current proposal advises that banks use blockchain as a means of operating the mortgage system while making use of smart contracts for insurance.

“Introduction into the mortgage system – it also proposes that banks use Blockchain technology to manage mortgages, insurance and speed up compensation – it proposes to extend it to insurance policies, with ‘smart contracts’ with conditions depending on the procedures to be followed, the verification processes and potential incidents.“

El Salvador making bitcoin legal tender was a huge move and we aren’t yet to see the full scope, although the country’s population stands at just 6.5 million so they aren’t expected to have that great of an impact on a worldwide scale. Spain is a different case, however.

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Source: https://zycrypto.com/looking-to-pull-an-el-salvador-spain-considers-bill-to-allow-mortgage-payments-in-crypto/

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