Reserve Bank of Australia Exploring The Use of Digital Currencies
The Reserve Bank of Australia has announced that it is partnering with ConsenSys Software, a Blockchain technology, Commonwealth Bank (CAB), National Australia Bank (NAB) and Perpetual to explore the impact and effectiveness of central bank digital currencies (CBDC). The RBA says it plans to develop and test a proof-of-concept (POC) for the issuance of a tokenised version of fiat currency (CBDC) for the funding, settlement and repayment of a tokenised syndicated loan on an Ethereum based platform. Financial System Assistant Governor for the RBA, Michelle Bullock has commented on the project; “With this project we are aiming to explore the …
PayPal To Introduce Crypto Capabilities
PayPal, one of the biggest online payment platforms has just confirmed that it is busy working towards bringing crypto capabilities to its platform. Currently, PayPal has in excess of 277 million active accounts globally and available over 200 markets worldwide. Through a PayPal account you are able to receive money in more than 100 currencies, withdraw funds in 56 currencies and hold balances in your account in 25 currencies. PayPal was introduced to Australians in 2005, with 7 million active accounts in Australia alone. The Block has reported that the decision made by PayPal to introduce crypto capabilities to its …
Are Banks Buying Bitcoin On The Down Low?
In a recent interview, Jason Williams of Morgan Creek Digital has said that major banks are buying Bitcoin (BTC), and they don’t want anyone in the public to know about it! Williams believes that Banks are investing into the best performing asset of the decade (BTC) and don’t want people to know about it to ensure that the price of Bitcoin doesn’t spike too high too soon. Over the past ten years, since Bitcoin has come into existence and into our every day lives, banks have been against the digital asset, and spoken strongly about this on a public level. …
Generation Z – Re-Writing How Markets Work
Generation Z also known as the ‘true digital natives’ are re-writing how markets, especially crypto markets are operating. Members of Gen Z are those born roughly around the time period of 1995 to 2010. They are the known as the earliest youth; they have been exposed to the Internet, to social networks and to the mobile systems. This has provided them with the knowledge and comfort of collecting and cross-referencing many sources of information. Generation Z is the largest generation in the world, making up for almost 30 percent of the U.S population. Crypto To Accelerate As The New Traditional …
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 …
36% Of Large Investors Own Crypto Assets – Bitcoin Is Their Favourite
In a recent survey done by Fidelity Investments they found that more than one-third of large institutional investors own crypto assets, with the most popular one being Bitcoin (BTC). The survey, which was released on Tuesday 9th June 2020, showed that 36 percent of institutional investors in both the United States and Europe own crypto assets. These institutional investors include pension funds, family trusts, financial advisors and hedge funds. In the United States alone, 27 percent of investors have said that they hold crypto assets, which is up a staggering 22 percent from a year ago when Fidelity ran the …
From Cash To Crypto – Are You Ready?
New Technologies has always been a main driver for social changes globally. With new technology too comes resistance. Technology however, is not the only way social changes have been stimulated, there have been reasons such as: wars, natural disasters, plagues and our most recent one the Covid-19 pandemic. Yes, we may be sick and tired of hearing about it, but, the reality is, it is happening and it will change the way in which we globally do business whether we like it or not. Since the outbreak of the Covid-19 pandemic many industries have suffered drastically, with the losses and …
J.P. Morgan Creates First US Bank Backed Cryptocurrency For Payments
Once against Cryptocurrencies, America’s biggest financial firm has suddenly changed their tune. J.P. Morgan will soon roll out the worlds first bank backed cryptocurrency in order to transform the payment industry, instantly settling transactions between businesses globally. The lender currently moves more than $6 trillion around the world every single day for global corporations. The digital token created by engineers, named JPM Coin, will start its trial phase in a few months time. Accounts have already been opened to Gemini and Coinbase, two of the world’s largest cryptocurrency exchange platforms. J.P. Morgan will provide these two companies with deposit, withdrawal …
How To Sign Up To NGS Crypto – A Step By Step Guide
So you’re ready to make the next move and sign yourself up to NGS Crypto to start your crypto mining journey. Below is a quick and easy step by step guide on how to sign up to NGS Crypto and become a member today. How To Sign Up Go through the prompts, adding in your username, first and last name, email and password. You will be sent your verification code to your email address, copy and paste it into the ‘Email verification code’ section. Download the Google Authenticator app to your smartphone. Put in your subscription amount, a minimum of …
“It’s Official! Bitcoin Is The Best Performing Asset Of 2020 And The Decade”
We have said it before and we will say it again; Bitcoin (BTC) has had exponential returns in 2020, projecting the world’s first cryptocurrency to outshine any other traditional asset on the market. In a recent meeting held by the Federal Reserve, they promised that every financial tool would be used to recover from the Covid-19 pandemic we are currently experiencing. When they say every tool would be used, what they mean is more money will be printed in order to recuperate the dwindling global economy. When this announcement was made, it came at no surprise that the price of …
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