Author: Anna Galvez

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Crypto Markets News

Bitcoin (BTC) Exchanges And Crypto-Related Companies In The Philippines Outperformed Traditional Financial Services

Bitcoin (BTC) exchange platforms and cryptocurrency-related companies in the Philippines surpassed traditional financial platforms in both customer activity and popularity during 2018, so far.

As CCN reported yesterday, the Cagayan Economic Zone Authority (CEZA), a government-supported economic center in the north of the Philippines, will embrace up to 25 cryptocurrency exchange platforms and operators which will enjoy friendly crypto regulations and fiscal policies.

In order to work within CEZA, cryptocurrency exchanges will be subjected to a stringent and thorough check conducted by local financial authorities and CEZA before they receive any regulatory benefits. The Director of CEZA, Raul Lambino, highlighted that exchanges inside the before-mentioned economic center would have to prove their potential to invest a minimum of $1 million within CEZA and to construct new offices in the region.

We do not want the Philippines to be a haven for scammers, even if these scams are taking place abroad. So, through our integrity and probity control, we can determine if your transactions are designed to attract unsuspecting people to invest in Bitcoin or any other cryptographic currency that is a fraud.

Raul Lambino, Director of CEZA

Bitcoin (BTC) exchange platforms and cryptocurrency-related companies in the Philippines outperformed traditional financial platforms

Among the first governments in the world to describe cryptocurrency as a real form of money, be it digital, there was the Philippines Government which even legitimated the crypto sector within the country. On the same page with its government, the Philippines Central Bank stressed out back then that, although it’s not its intention to invest or use Bitcoin (BTC) or other cryptocurrencies, they recognize cryptos as digital money and as a method of digital payments.

From then on, regional startups, Coins.ph, for instance, have grown to become part of the significant cryptocurrency exchange platforms and cryptocurrency-related enterprises in Asia.

Coins.ph, Rebit, Bitbit, BuyBitcoin, Keza, Prepaid Bitcoin and Bitmarket.ph are just a few of the numerous cryptocurrency exchange platforms and cryptocurrency-related companies that have prospered in the blockchain sector in the Philippines.

 

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Crypto News

Ripple (XRP): Ripple And Bill Gates Foundation Keep On Helping People In Poor Countries

Ripple, the owner of Ripple (XRP) token, with its single market approach has achieved a significant level of growth. As xSpring CEO Daniel Aranda remarked, the team has decided to pursue the development of improved payment solutions and has already established over 150 partnerships worldwide. One of them is with the Bill Gates Foundation, a deal signed in 2017.

Ripple’s partnership with the Bill Gates Foundation

The Bill Gates Foundation is a program that aims to help improve people’s living conditions in several third-world countries but not limited to them. On this road to improvement, the Bill Gates Foundation teamed up with Ripple to use its technology and roll out the Mojaloop innovative software.

According to the World Bank, over 2 billion people are poverty-stricken, most of them due to lack of access to a bank account or other essential financial facilities.

Mojaloop is an open source application that can be adapted and used very comfortably by banks at low costs and with little hassle. During the development phase of this software, the project was financed by the Bill Gates Foundation and was established by FinTech enterprises, Ripple included.

The interoperability of digital payments has been the most difficult hurdle for the financial services industry to overcome. With Mojaloop, our technology partners have finally achieved a solution

Kosta Peric, Deputy Director of Financial Services at the Bill Gates Foundation

What the partnership with Bill Gates Foundation means for Ripple (XRP)?

As the Gates family privately owns the Bill Gates Foundation, the venture can quickly take the technology and uses of the blockchain to new heights. That signifies that the partnership with Ripple would not just impact the company and its blockchain and platforms, but also the Ripple (XRP) token.

Earlier, the Ripple (XRP) has crossed the $0.5000 level recording an 11.18% increase, but, at the moment of this writing, XRP returned slightly below this mark, as it is now trading at $0.496

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Crypto News

Cardano (ADA) Blockchain Is Spreading In Africa And Asia

IOHK, a blockchain company that runs the Cardano (ADA) blockchain, is taking its general ledger distribution platform to a number of Asian and African countries. In May 2018, IOHK concluded a MoU (memorandum of understanding) with the Ethiopian Government to take its agricultural activities on the blockchain.

Cardano doing business in Africa and further

It is possible that the supply chain of Ethiopian coffee will use the Cardano blockchain shortly. IOHK will support the Ethiopian Government in hiring and coaching young software developers to master Cardano’s blockchain systems and deploy them into the country’s coffee supply chain.

The first series is scheduled to graduate in September 2018, and we’re talking about 30 fully-trained developers. The leading devs will be contracted by IOHK to develop the agricultural blockchain system solutions and provide support for Cardano’s code base.

We come not with solutions, but with a commitment to find them. Seeing the ideas that emerged from the dialogue between the IOHK and the ministry, we validated our launch in Ethiopia and our belief in a productive and mutually beneficial relationship. This belief is enshrined in the MoU that Charles signed with the Minister of Science and Technology, Dr. Getahun.

John O’Connor, Cardano (ADA) Director of Africa Operations

Cardano (ADA) spreading in Asia

The IOHK plans, as well, to deploy the Cardano blockchain to monitor beef supply chain in Cambodia and Vietnam.

One of the many Cardano development firm, Emurg Hong Kong, is keen to issue digital university certificates through the Cardano (ADA) blockchain. The new technology may reduce counterfeiting and forgery, while at the same time improve the system’s transparency and permit fast information verification on the blockchain.

The adoption of Cardano blockchain creates a single global market that allows anyone to trade on a global scale, which is revolutionary. The blockchain platform can solve many problems and make the world a better place.

Charles Hoskinson, Cardano (ADA) founder and IOHK CEO

Charles Hoskinson also said that using blockchain technologies could reduce smuggling, and he gave the example of China which bans Japanese imports but buys the Japanese Wagyu beef from Cambodia which, in turn, imports it from Japan.

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Crypto News

Tron Foundation Locked Up 33.25 Billion Tron (TRX) – What Does It Means For TRX?

The huge supply of Tron (TRX) tokens has always been a hot topic for debates within the cryptocurrencies market. Prior to burning the 1 billion TRX during the Tron’s Independence Day, the total supply was 100 billion. After that event, the Tron (TRX) total supply fell to 99 billion TRX. Now, deducting the already circulating 65.75 billion TRX, it results that there is an extra of 33.25 billion TRX still under the Tron Foundation possession.

Tron announced that the remaining 33.25 Billion TRXs are now locked in about 1,000 addresses in Tron MainNet. The distribution of these funds also reduced the risk of losing all coins in case an address was attacked. The team also mentioned that while providing additional information about their identity, TRONICS members had plans to develop an interrogation tool that they could regularly verify and search for addresses in question.

33.25 billion Tron (TRX) locked – What’s the reason behind this decision?

Tron’s move was also to address the problem of procurement predictability. Crypto traders and Tron (TRX) owners are confident that there is now 65.75 billion TRX in circulation. So, the 33.25 billion TRX will remain locked until January 1st, 2020. As a result, this procurement predictability will give investors more confidence in this token.

With this step taken to increase investor confidence, and with a running Tron MainNet, the Tron (TRX) value has begun to dominate the cryptocurrencies market with the expectation that its supporters will increase in time.

As a remarkable example of such market response, there is Ripple which blocked 55 billion XRP in December last year. Within a short period of one month after this move, the price of the XRP rose from $0.22 to $3.82 with an increase of 1600%.

Apparently, Tron seems to have taken the right step regarding its TRX supply in circulation until January 1st, 2020. That will give a more stable Tron (TRX) market, while the crypto investors can invest in TRX without worrying about the supply in circulation. And so traders will not worry about a price drop due to an excessive amount of TRX in the market.

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Crypto News

Cryptocurrencies Graveyard – More Than 800 Cryptos Are Dead

Since the creation of Bitcoin (BTC) in 2009, more than 800 cryptocurrencies have disappeared for various reasons. Thar is assured by the Dead Coins portal where you can consult the lists of these crypto coins, their status and the causes of their disappearance.

The 2018 cryptocurrencies market drop and lose of trust in cryptos caused many digital assets to vanish

The growth of dead or retired cryptocurrencies has increased in recent months due to the sharp fall of Bitcoin (BTC) and other significant cryptocurrencies. BTC entered in 2018 with a valuation of nearly $20,000 per unit and is now only valued at about 35% of that figure in the most conservative markets.

The reason for the loss of trust in this type of currency also increased due to the numerous hacking or scams that have been carried out against the cryptocurrency exchange platforms or newcomers, respectively. That generated fear in the people who owned these digital assets, forcing them to sell their cryptos before their money was utterly diluted, but also in those people who wanted to invest in this market for the first time.

Dead Coins list includes all kind of crypto coins, from hacked one to those that were never established

Several financial analysts have determined that this instability of cryptocurrencies is very similar to what happened in the 2000s when the “.com” bubbles burst and fear increases the crypto coins’ credibility. But other people are taking advantage of this fall to buy and invest in companies that launch this type of currency to finance their projects and then claim the cash when the momentum is gained.

The Dead Coins list comprises 12 hacked coins, 55 of which were jokes, 125 were scams and 635 were not established.

Also, the figures above indicate that ICOs (initial coin offerings), even though they are very frequent in the cryptocurrencies market, they are not as successful as expected. While between all the 760 ICOs on the Dead Coins list only 125 were scams, 635 were trustworthy ICOs but which didn’t reach maturity, stuck somewhere in the process.

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