Category: Finance

Categories
Crypto Finance News

Ripple (XRP) and Tron (TRX) – Is Now the Time to Take Action?

Nowadays, the cryptocurrency market has generally been pretty stable, and at the time of this article, it’s currently approaching its peak for the month. Today, we’ll be taking a short look at three different cryptocurrencies that shown consistent an increase in value: Ripple, VeChain, and Tron.

With the exception of five cryptocurrencies, all the rest of the coins listed in the top hundred have sustained downturns this morning, and as it turns out, this is actually positive news. So far as we’ve seen, there haven’t been any notably significant updates in the cryptomarkets today, and this just may very well be a good thing.

VeChain (VEN)

Sunny Lu, the CEO of VeChain, has inspired a significant upturn in the price of VeChain following her latest tweet.

So it would appear that people who’ve long-supported VeChain now have reason to see their trust in VeChain increase, as well as buy up even more of the coin.

At the time of printing this article, VEN is recorded at $3.68 per coin, up 7.76%.

Ripple (XRP)

As we see here, Ripple(XRP) has done quite well this past week. Last week, Santander Bank, a subsidiary of the Spanish Santander Group based in the United States, announced their launch of their new international mobile payment app, Santander One Pay FX. One Pay FX is the first mobile app that makes use of Ripple technology to allow users to make transactions and payments internationally, all and entirely through blockchain technology.

 

Following the announcement, XRP has enjoyed a smooth, gradual upturn. With ever-increasing numbers of businesses facilitating support of Ripple’s internationally-friendly blockchain architecture, XRP sees ever-increasing popularity and use. One might say that a significant share of banks and other financial institutions worldwide have been really sitting up and noticing, and they’ve seen the benefits of supporting not only the architecture, but the general public usage of the technology behind Ripple and Stellar’s, and this is very likely just a small taste of what we can expect in years to come.

At the time of printing this article, XRP is recorded at $0.734 per coin, up 7.74%, within the past day.

Tron (TRX)

 

The Tron Foundation are holding a programming contest, and have announced the details as of just this past Tuesday. With the total reward being staked at an incredibly lucrative one million dollars in TRX, applications to the competition have already begun coming in. The launch of the Tron main net is a little over five weeks coming. These are definitely exciting times for the cryptomarkets.

If you’ve been contemplating getting into cryptotrading, and perhaps even rounding your portfolio out by adding TRX, this is the time.

At the time of printing this article, TRX is trading at $0.051436 per coin.

Categories
Finance News Tech

Facebook Facial Recognition Available in Europe Again

Facebook recently announced that they intend to bring facial recognition back in Europe. They had previously withdrawn this feature back in 2012 because several data privacy groups objected to it. Moreover, the social media network will make the feature available in Canada for the first time since its launch back in 2011.

The Official Announcement

This move was announced by Facebook through a blog post. The people responsible with the announcement were Deputy General Counsel Ashlie Beringer, together with the Chief Privacy Officer Erin Egan. The executives declared that for more than six years, they have been offering products that rely on face recognition all around the world. Now, as part of their latest update, they will give this chance to people in the EU and Canada as well.

But what does it do more exactly? This feature lets Facebook scan your photos and suggest some users you can tag in them. Facebook underlined the fact that this feature will be optional, not compulsory.

More Changes

However, this isn’t the only change Facebook plans to implement soon. Next month, they want to introduce some sweeping data protection rules, called the General Data Protection Regulation in Europe. This will offer its users more choices related to data sharing, instead of automatically signing them up.

Even so, the availability of facial recognition is a controversial one for the platform. They are currently facing quite a lot of scandal regarding the way they are manipulating their users’ data. At the same time, the EU regulators declared they’re not satisfied with the way in which the feature complies with their data rules. In fact, on Monday, one of the federal judges in the US ruled that the social network will face a class action lawsuit. This relates to the fact that the app uses facial recognition on photos without the user’s permission.

Categories
Finance News

Bank of Canada Rates Remain Steady – A Cautious Attitude

Currently, the Bank of Canada continues to build their case for some higher interest rates. However, they have stopped for the moment. The central bank has remained with a key rate unchanged from 1.25% on Wednesday. Related to this, they cited the present weakness in housing, as well as trade and investment when it comes to export.

A Cautious Attitude

Many key ingredients for sustaining higher rates seem to be okay. However, the bank declared its intention of remaining cautious when it comes to other policy adjustments in the future. Currently, we look at Canada’s economy while it’s operating with ‘little slack’. Moreover, inflation has been edging higher and now it’s in line with the 2% target set by the bank. All this information was presented in a statement issued by the bank to justify its rate decision. Don’t forget that the rising wages are also making the consumption growth stay quite ‘robust’.

An Interesting Evolution

Ever since last June, we witnessed three raises of the key rate of the bank. What’s more, the investors and economists expect us to see one more in 2018. Andrew Grantham works as an economist for the Canadian Imperial Bank of Commerce. According to him, the statement shows that the Bank will most likely make another rate hike in July. However, they’re not rushing to move anytime soon after that.

We can blame the go-slow attitude of the bank partly on the expansive capacity to grow of the economy. For 2018, 2019, and 2020, the bank boosted its own estimate for the potential output grow by 2 – 4%. This information was present in the Monetary Policy Report, which they had released on Wednesday. Now, the median should equal 1.8% in all these three years. If they are right, an increased capacity can help the economy grow faster without triggering the inflation.

Categories
Crypto Finance News

Soft Cryptocurrencies Regulations Are The Solutions Proposed By The IMF Director, Christine Lagarde

The boss of the IMF believes that crypto coins and blockchain technology could lead to a “more efficient and potentially more robust” financial system but only if soft cryptocurrencies regulations will be adopted.

A month ago, Christine Lagarde warned, in a blog note, about the “dark side” of cryptocurrencies, citing their high volatility and the fact that they can be used for money laundering or terrorist financing. But, as the boss of the IMF prepares to welcome in the Washington political leaders and central bankers for the traditional spring meetings, the former French Minister of Economy split Monday a new blog note where she shared another point of view, now recognizing the crypto and blockchain technology value but only under the conditions of soft regulations.

Undeniable security and speed

Drawing a parallel with the first financial bubble in history, the Tulipomania in Holland in the 17th century, Christine Lagarde first points out the following:

With more than 1,600 cryptocurrencies in circulation, it seems inevitable that many of them will not survive to the process of creative destruction. But those who take root will “have an impact on the way we put money aside, invest and pay our bills.

Christine Lagarde

Christine Lagarde praises, in particular, the speed and the low-cost of the financial transactions conducted via cryptocurrencies blockchain.

The IMF leader also emphasizes the security of transactions enabled by the blockchain technology, stressing out, again, that the cryptocurrencies and blockchain technology could have applicability for governments but only under soft cryptocurrencies regulations.

A more balanced ecosystem

Christine Lagarde hopes that decentralized services stimulated by cryptocurrencies will lead to a diversification of the global financial landscape and ultimately, they will create a more balanced ecosystem, which will be, at the same time more efficient and more secure.

However, the IMF director remains vigilant, saying that cryptocurrencies must still “win the trust and support of consumers and authorities,” which, according to her, is only possible by the implementation of soft cryptocurrencies regulations a better definition of the blockchain role in the financial sector.

Categories
Crypto Finance News

Nano (NANO) back on the right track with Smartphone compatible wallet

The crypto market went through some hard times lately. The prices went down for all coins after the unexpected jump at the beginning of the year. However, some coins seem to get back on their feet slowly.

Nano (NANO) is one of the virtual coins that is ready to fight with the big players like Bitcoin and Ethereum. While the market is receiving new competitors every day, Nano remains confident that it is able to face them. Here is what it has to offer:

Recognition

Not all coins manage to obtain listing in major exchanges. Nano received recognition for other important players in the market, including the founder of Litecoin, Charlie. The experts also appreciate Nano for its smart ecosystem that does not use too many resources.

Smartphone compatible wallet

Having a wallet is very important for a crypto coin, and users can benefit from it. One of the advantages of the Nano wallet is the fact that it is smartphone compatible. This means that you will be able to access your money even when you are on the go.

Having a wallet that is available on a smartphone makes it more accessible and easier to use. Which is definitely something that users will appreciate. The light wallet is considered an important one and it improved the reputation of Nano.

In fact, Binance exchange offered a reward to the Nano community, for being one of the best communities on the crypto market, which is an important accomplishment.

NANO tokens can be also used on Twitch, which is an online game streaming company that operates globally and is owned by Amazon. Since there are thousands of users, there is a chance that the NANO coin will be adopted by even more people in the future.

Exit mobile version