The more than 5,000 residents of an island that forms a part of St. Vincent and the Grenadines can use crypto as a means of payment.
According to a report from Euronews, both residents and visitors to the island of Bequia can use Bitcoin (BTC) to pay for goods and services ranging from property to food at one of the local eateries. The One Bequia project, backed by entrepreneur Storm Gonsalves, is building luxury villas on the island for sale in BTC. Gonsalves said the move to accept crypto was aimed at solving the issue of traditional financial systems abandoning Caribbean islands.
“The adoption of cryptocurrencies is far from being a gimmick,” said Gonsalves. “It’s a response to the very real challenges faced by island communities increasingly cut-off from mainstream banking facilities.”
“Residents of small island nations are finding it increasingly difficult to send and receive money internationally because of ‘derisking’ by large international banks. Derisking is when these large institutions remove their intermediary banking services from smaller island-based community banks. This prevents the island-based banks from transacting internationally.”
The island is currently home to one branch of the Bank of Saint Vincent and the Grenadines and also accepts the Eastern Caribbean dollar for fiat transactions. Gonsalves cited Grenada, St. Kitts and Nevis, Antigua and Barbuda, and Saint Lucia recently adopting DCash as examples of island nations in the Caribbean pushing back to seemingly being slowly cut off from international commerce. The Bahamas has also issued its own central bank digital currency, the Sand Dollar.
Though the entrepreneur claims that many people are “still skeptical” of crypto, the technology could provide an attractive investment for island dwellers. Some are already calling Bequia “Bitcoin Island,” given the opportunity for residents to use the crypto asset as a medium of exchange.
“The Caribbean is known for its laidback island atmosphere,” said Gonsalves. “It’s not exactly the place you would expect a groundbreaking property development on global proportions to take place. I wanted to break out of this mould and surprise the world by pioneering a new way of project financing, such as the use of alternative payment methods such as Bitcoin.”
AllianceBlock Announces Decentralized Capital Market on Edgeware with Defi-NFT Approach
[PR – Utrecht, The Netherlands, May 14, 2021]
AllianceBlock has announced it will launch a decentralized capital market on the Edgeware smart contract platform. The protocol brings unprecedented tooling to the Substrate-based Wasm contract palette, including NFT contract standards, Defi and DAO primitives to their peer-to-peer market, further empowering collectives and individuals to lend and fund across the network.
In the longer term, AllianceBlock is positioned to bridge traditional finance and defi through globally compliant platforms and tools – interoperating with the latest in digital organization and governance and their team’s background across both financial paradigms, including CEO Rachid Ajaja, previously at Barclays and the VINCI smart cities project:
Edgeware’s vision of building a community owned, decentralized platform with a focus on on-chain governance is perfectly in line with our own. We are seeking to build a new financial infrastructure that takes advantage of innovative technology, and Edgeware’s community treasury, facilities for DAOs, and bridging of digital and physical entities are important parts of linking DeFi with traditional finance.
We are excited to be integrating our products into Edgeware, and look forward to collaborating more moving forward.
Edgeware is currently the oldest and few of the mainnet Polkadot ecosystem smart contract platforms, enabling teams like AllianceBlock to fully test and deploy on variety of development and mainnet Substrate chains.The value alignment and technical foundation, including the opportunity to model best practices off the chain’s own governance, has made deployment on Edgeware a quick and effective launch.
Look forward to a launch AMA in the Edgeware and AllianceBlock community forums in the next few weeks.
AllianceBlock is creating a protocol that will bridge DeFi and traditional finance (TradFi) to bring the benefits of both areas to one another and create the first decentralized capital market.
The AllianceBlock Protocol is designed to reflect how traditional finance would be built today with current technology. It incorporates new technology such as DeFi in a TradFi friendly manner, ultimately allowing us to facilitate services required by both spaces.
Long term, the decentralized blockchain-agnostic Layer 2 AllianceBlock Protocol will provide a secure and regulatory compliant gateway for billions of dollars present in TradFi to flow towards DeFi and enable DeFi platforms and protocols to be used by a much greater audience. In doing so, we will unlock DeFi for the world.
Edgeware is a community-owned, fairly distributed, self-sustainable blockchain ecosystem built on Substrate with on-chain governance and a collectively managed treasury, enabling users to fund the chain’s development and teams to build projects.
CryptoTycoon will launch its IDO from May 20th to 25th
On May 15th, according to official news, the DeFi light game platform CryptoTycoon based on Binance Smart Chain (BSC) will launch its IDO, IFO, IIO on JulSwap, BurgerSwap, DODO, MantraDAO and Helmet from May 20th to 25th.
Among these platforms, JulSwap and DODO will be carried out in the form of IDO, BurgerSwap will be carried out in the form of IFO, Helmet will be carried out in the form of IIO, and MantraDAO will be carried out through Zendit LaunchPad.
According to the official data, 4% of CryptoTycoon’s total supply CTT will be released through decentralized exchanges(IDO) and centralized exchange(IEO), and the rest of early invested CTT tokens will be released to participants in the institutional fundraising round and community fundraising round, which will be unlocked fully in 2022 June. Therefore, the release from multiple launchpads is expected to be the main source of CTT circulation in the market for the next period of time.
Furthermore, the official also wants to remind users that due to the different schedules and rules/policies of each platform, the ways to participate and purchase hard cap for users will also be different. The exact launch time is scheduled from May 20th to 25th. Both CoinMarketcap and CryptoTycoon Medium have all showed detailed participation information with live updates.
In the meanwhile, there are similarly named CTT assets on BSC, so the official recommendation is that everyone trades through JulSwap, BurgerSwap, DODO and PancakeSwap after CTT is officially in circulation on 25th, in case users encounter fake/scam projects.
Coinsmart. Beste Bitcoin-Börse in Europa
Ethereum Classic Price Analysis: 14 May
Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice
Ethereum Classic’s [ETC] price has been following the trends of the Ethereum [ETH] market. This resulted in the value of ETC surging by 24% within four hours, at press time. What’s more, this surge pushed the value of the digital asset from $88.36 to $110.19.
With Ethereum Classic holding steady around the $110-zone, it would seem that the altcoin was in extremely bullish territory.
Ethereum Classic hourly chart
Ethereum Classic’s price had been pushed under the support level at $89.83, however, the latest surge helped the price recover from this plunge. This sudden shift in price trend also contributed to more volatility in the market.
Such steady support from the market has made it difficult to predict the short-term movement of ETC.
Ethereum Classic’s attached hourly chart pictured the long downtrend noted by the digital asset. However, at the end of this long descent, ETC’s price surged and catalyzed the low volatility. As the Bollinger Bands diverged and confirmed the rise in price action, the market was filled with buyers.
The Relative Strength Index underlined the rising buying pressure as the indicator shot up from the oversold zone. The RSI suggested that the asset had remained in the oversold zone under 30 for a while, with the buyers taking the opportunity to long the coin. As the price started climbing, the market became saturated with buyers.
Meanwhile, the Awesome Oscillator highlighted bullish momentum, with its histogram suggesting that this trend might be here to stay.
Ethereum Classic’s market noted a trend reversal as the alt’s price turned on its head. This change in momentum resulted in the market getting saturated with buyers. With the price moving towards the resistance level at $110.19, long traders might soon be making a profit.
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