Search Results for "virtual currency"
US Declares China a 'Currency Manipulator' while Bitcoin Sees Growth
The US Treasury Department officially designated China as a “currency manipulator” on Monday following the largest stock market losses the U.S has seen in 2019.
Is Blockchain-Based Virtual Reality the Future?
For years, advocates of virtual reality have struggled to overcome several major barriers to mass adoption — centralised corporations controlled user accounts, hackers eliminated digital assets, and developers lacked incentives to create quality VR content. Now, blockchain is changing the game.
Why Cryptocurrency Is Not A Viable Global Reserve Currency to Replace the US Dollar
With the recent rise of cryptocurrency, there have been talks about the digital currency poised to become a global reserve currency, thus replacing the U.S dollar. Based on the virtual currency’s potential, it can become the next global hedge currency. But let us look at the facts in the financial market, especially from the dimensions of regulations, digital currency, and fiat currency. This move would help us understand whether the claims hold water.
New Ride-Hailing App to Transform Payments by Offering Blockchain Direct Transactions
Bayride has revealed RideNode, a new transportation virtual and blockchain currency that seeks to transform the payment structures in this sector. America’s ride-hailing industry is touted to be revolutionized because RideNode will offer direct transactions between the service provider and consumers.
Ghana Confirms Its Interest in Piloting Central Bank Digital Currency
Ghana has confirmed that it is on the hunt for a Central Bank Digital Currency (CBDC). The Bank of Ghana’s deputy governor, Dr. Maxwell Opoku-Afari, recently revealed that the country’s central bank remains committed to piloting a national digital currency. He made such remarks during a virtual stakeholder workshop on payment systems and services as reported by GhanaWeb local news outlet.
Russian Banking Giant Sberbank and S7 Airlines to Streamline Air Ticket Purchase with Virtual Tokens
Sberbank, Russia’s biggest bank, and S7 Airlines are set to revamp the sale of air tickets with virtual tokens, smart contracts, and a blockchain platform.
Paraguay Begins to Audit Local Crypto Industry to Comply with FATF Guidelines
Paraguay is looking to take its cryptocurrency industry mainstream, in light of the Financial Action Task Force’s (FATF) guidance on virtual asset service providers (VASPs) released earlier this year.
Jamaica to Launch Central Bank Digital Currency in 2022
Jamaica’s Minister of Finance Nigel Clarke has announced that the country intends to launch its central bank digital currency (CBDC) in 2022.
Ahead of The Ripple (XRP) SEC Court Date, Flare Network Declares its Support
The Flare Network has stated that it is not associated with Ripple, but believes XRP is a virtual currency and not a security despite the United States SEC alllegations.
Standard Chartered's Planned Hong Kong Virtual Bank Announced as Mox
Mox is the new virtual bank in Hong Kong to be launched by Standard Chartered in partnership with PCCW, HKT and Trip.com. Launching later this year, the mission of Mox is to help everyone in Hong Kong grow – “your money, your world, your possibilities.”
China to Launch Its Own Digital Currency Later This Year
In order to remain ahead in the global competition, China plans to launch its own digital currency known as Digital Currency Electronic Payment (DCEP). The digital currency will stimulate daily banking activities like deposits, payments, and withdrawals from the digital wallet. Crypto news website Coin Journal shows that the People’s Bank of China, China’s central bank has initiated the efforts to roll out its very own digital currency. It is an effort aimed at staying ahead among all the central banks worldwide as well as preserving financial sovereignty.
Coinbase Takes a Step Further into the Japanese Crypto Market
Coinbase has been licensed in Japan since 2019, and has registered as second-class members of the Japan Virtual Currency Exchange Association (JVCEA), a self-regulatory organization for the crypto industry in Japan.