China and Brazil to Replace Fiat With Cryptocurrencies
Due to a rapid inclination and surge towards the use of Blockchain technology and cryptocurrencies, citizens of China and Brazil are now seriously considering the replacement of fiat currencies with cryptocurrencies. Blockchain technology has harvested many widespread enthusiasts globally. Many countries, and large mainstream companies have been adopting and Utlising the technology for quite some time now and seeing great benefits to the system. Cryptocurrencies are not far behind, receiving large amounts of well-deserved attention over time. In a recent report issued by Deloitte, one of the big four accounting platforms, they have highlighted the status quo of Blockchain technology …
Coronavirus And Its Impact On Bitcoin
Coronavirus is sweeping the globe, with countries and their citizens at large affected adversely. According to www.worldometers.info, on the 26th February 2020, the current death toll from Coronavirus stands at a shocking 2,764 people, with an existing 80,997 confirmed cases across 42 countries. Coronavirus, as defined by the World Health Organization, is “A large family of viruses which may cause illness in animals or humans. In humans, several coronaviruses are known to cause respiratory infections ranging from the common cold to more sever diseases such as Middle East Respiratory Syndrome (MERS) and Severe Acute Respiratory Syndrome (SARS).” The disease is …
Australian Dollar Plummets To A Ten-Year Low
The Australian dollar is in dire straights after falling to record lows overnight after the Reserve Bank cut interest rates by 25 basis points. The Australian dollar hit a record 10-year low, the lowest it has been since the global financial crisis (GFC) , falling to 66.77 US cents. The last time we saw a drop like this was in March 2009, when the Australian dollar bottomed out at around 67.44 US cents. The currency has been on a gradual deterioration for more than one and a half years, and has resisted recovering positively since this time. US-China Trade War …
CHINA SET TO RELEASE THEIR OWN DIGITAL CURRENCY
After five years of extensive research, the People’s Bank of China (PBoC) has announced that its digital currency “can now be said to be ready.” PBoC Deputy Director Mu Changchun, who also states that the digital currency adopts Blockchain Architecture, made the announcement at the China Finance 40 Forum on August 10. The digital currency will operate on a two-tier system in order to cater to the nations “complex economy with a vast territory and a large population,” with the PBoC on the main higher level of operation and commercial banks operating underneath. This means that the system will convert …
BUY A PROPERTY IN MELBOURNE WITH CRYPTO
A new site in Melbourne’s East Ringwood area has been secured to build six new townhouses, which will be sold using cryptocurrency. Melbourne-based real estate trading platform Tycoon Global is driving the new project, has settled the purchase of the site for $6.5 million, which is near the Eastland Shopping Centre. Each unit built will have four bedrooms, two garages and will be between 180 to 250 square meters. They will be sold for the asking price of $750,000 – $1 million USD, and can be purchased using the Tycoon’s own cryptocurrency, Tycoon Coin Token (TCT). The new project will …
US & JAPAN TOP 2 GLOBAL CRYPTO CONTRIBUTORS
According to the latest research undertaken on May 31st by The Block, the United States and Japan are the top two countries contributing traffic to cryptocurrency exchanges. The study showed that 24.5 percent of all exchange traffic originates in the United States, with Japan coming in second place at 10 percent of the total traffic. South Korea followed closely behind in third place, accounting for 6.5 percent of exchange web users. It was also concluded in the study that China, whose population has a very strong interest in investing and trading in Cryptocurrencies could have skewed the results. This being …
STOCKS DOWN YET BITCOIN SKYROCKETS AMIDST US-CHINA TRADE WAR
May has started off on an extraordinary run for Bitcoin (BTC); we have seen the price of the cryptocurrency skyrocket to above $8,100 USD. On Friday 10th May 2019, President Trump’s administration team raised tariffs on $200 billion worth of annual Chinese imports from 10 to 25 per cent. Trump has also announced that he is ready to impose 25 per cent on yet another $300 billion worth of Chinese goods. As a direct result of this, the Dow Jones Industrial Average (DJI) has dropped more than 590 points, with Apple down 5 per cent on the day of the …
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