Jack Dorsey believes in a future where cryptocurrency is the de facto medium of exchange on the internet. He stated this belief while on stage at the 2018 Consensus conference in New York on May 16, 2018. The Square CEO has always been bullish on Bitcoin, cryptocurrency and blockchain technology. Dorsey has significant Bitcoin holdings and his company; Square is one of the leading players in the Bitcoin fintech arena. Speaking at the Consensus summit, Dorsey also reiterated the need for simplifying the entry barrier for crypto payment systems.
xCoins is a cryptocurrency exchange, but it isn’t like any exchange you’ve encountered before, I’m pretty sure of that. For starters, you can use Paypal with xCoins, which is pretty rare in itself. Secondly, it’s a peer-to-peer marketplace, which isn’t too unusual, but this marketplace is focused on connecting Bitcoin lenders with Bitcoin borrowers. You read that correctly. The xCoins exchange is for lending and borrowing Bitcoin.
LedgerX has launched a new Bitcoin savings product designed to address the needs of investors wishing to buy and hold Bitcoin. The U.S Commodities Future Trading Commission has already certified the new product with swap execution facility (SEF) and derivative clearing organization (DCO) license. SEFs is a platform for financial swap trading that provides pre-trade information, e.g., bidding participants can also perform swap transactions.
Those who prefer some privacy, yes even anonymity when buying Bitcoin should be aware of the BitQuick exchange. BitQuick is a simple peer-to-peer Bitcoin marketplace owned by the same company as the Athena Bitcoin ATM network. As you can probably guess, this company has a high regard for anonymity in cryptocurrency purchases and sales. Just like you can go to a Bitcoin ATM and anonymously buy Bitcoin, you can also go online and anonymously purchase Bitcoin through the BitQuick marketplace.
IBM is partnering with Veridium Labs, a technology startup focused on environmental preservation, to issue a cryptocurrency token on the Stellar blockchain. The partnership was announced on May 15, making it IBM’s first ever cryptocurrency token. The collaboration between IBM and Veridium is geared towards transforming carbon credits into fungible crypto tokens. This move is yet another example of the innovative ways in which corporations around the world are leveraging the technology behind bitcoin to solve a multitude of problems plaguing the planet.
Bit-Z is a Hong Kong based cryptocurrency exchange that was founded in 2016. It is regularly in the top ten exchanges by volume, with roughly $200 million in trading volume daily, and in addition to its digital asset trading, it also provides over-the-counter (OTC) assets. The leadership at Bit-Z is surprisingly diverse. Unlike most other cryptocurrency exchanges, the management team comes not just from crypto, but also from the finance, gaming, social networking and ecommerce industries.
After the persistent lull around Bitcoin through 2018 to date, a New York event is trumpeting cryptocurrency again in a manner reminiscent of December 2017. Although the Bitcoin price still far from its heyday at just under $20,000, celebrity Bitcoin is but one aspect of a cryptosphere event like Blockchain Week.
A three-day blockchain bonanza started on May 10, 2018 and attendees can expect to see young technology enthusiasts debating the future of digital currencies with some big names in fintech. Startups will also be pitching their concepts to anyone who passes by. The New York City Economic Development Corporation is a principal partner in Blockchain Week, launched as a showcase that presents the city as a great destination for blockchain companies. A concurrent job fair has been scheduled for May 16, 2018.
National cryptocurrencies are slowly creeping their way into our lives. At present, Venezuela is the only country with a “functioning” national cryptocurrency as legal tender, but this only the beginning of a newly emerging trend. Russia, China, Estonia, Iran, and Turkey are just a few of the countries that have made their intentions of creating a national cryptocurrency public.
There’s no doubt that digitalization of money is inevitable. In fact, about 92% of all the money in the world exist in digital form, and digital payments are slowly replacing cash payments. Countries like Norway, Sweden, and Denmark are already planning to stop using cash altogether.
Michael DuBose is set to join Bitfury as the US head of Crystal. Bitfury picked DuBose to help the company introduce Crystal, a product designed to track Bitcoin blockchain to law enforcement agencies, financial groups, and any other major audiences within the US.
DuBose brings experience in computer-aided crime having worked in the Computer Crime and Intellectual Property section in the US Department of Justice for 11years.
Coinone is a South Korean cryptocurrency exchange, and was established in 2014 by founder and current CEO Myunghun Cha. The site was officially launched in 2015, and while it was once one of the top 10 global exchanges, it is currently ranked #41 in trading volume. While crpytocurrencies continue to increase in visibility and popularity, especially in South Korea, the rise of so many new and innovative exchanges has cut into the Coinone trading volume.
Previously Coinone was also the second largest South Korean exchange, with only Bithumb topping it, but the new Upbit exchange also has more trading volume now, putting Coinone solidly into the third position among South Korean exchanges. As of May 2018 Coinone has roughly $50 million in daily trading volume, but Upbit sees over $500 million exchanged daily, while Bithumb is nearly $750 million in daily trade volume.