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Libra: Cryptocurrency By Facebook (In 5 Minutes)

 

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How many times have you faced difficulties while transferring from one person to another? Have you ever questioned why transactions are so slow? Why do I have to pay charges for the transaction?

Then this article will definitely help you to get rid of all your problems regarding transactions.

But before that let us find an answer to the question, where are we right now in the process of evolution? We are living in a world of revolutions, machines and digitization. We improved ourselves and updated technology as time passed but we still lack in offering basic financial services to everyone and satisfy them with the results.

Libra is a cryptocurrency built on blockchain technology, it is developed to improve millions of people by giving them a platform to be a part of digital currency. And to do this all you need is a mobile and data connection. It is fast, safe, and stable.

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The Libra association is a group of companies that are founding members of Libra. There are 28 companies which busily take part in the association and the strategy is to reach a total of 100 members who will act as the validators of the Libra currency.

Every institution present in this organization will get their share of the vote to make and finalize decisions regarding Libra and no individual will get higher than 1% of the total vote share.

People have different takes when it comes to trust in cryptocurrencies, one can easily trust Libra as it is backed by a reserve with constant liquid assets by combining with several other groups of exchanges and other liquidity providers. These assets stabilize the value of Libra.

The software used for developing Libra is a new programming language called Move it is used to execute and develop decentralized finance, smart contracts, and transaction logic.

To know more Libra, Click here on the infographic designed by Mrbtc.org

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When Facebook first announced it was getting into the crypto business—with a basically unregulated currency called Libra—the reaction from Wall Street and government bankers was about as expected. Fast-foward a few months, and Libra is in trouble. The social media giant had lined up a long list of corporate backers for the initiative, including major players in the payments space. And in October 2019, several prominent backers began to back out. Here’s how Facebook’s crypto future got into serious trouble. » Subscribe to CNBC: https://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic About CNBC: From ‘Wall Street’ to ‘Main Street’ to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News Online Get the latest news: https://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC #CNBC Why Facebook’s Libra Cryptocurrency Is In Trouble

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Bank Of England Governor Might Open Opportunity For Ripple Tech, Says That Payments Across Borders Should Be Indistinguishable From Those Across The Street

The Governor of the Bank of England, Mark Carney, has vowed to transform the central bank in preparation for the upcoming “fourth industrial revolution.”

Speaking at the Innovate Finance Global Summit, Carney said that he would focus on encouraging innovation among fintech startup, and making climate change and Artificial Intelligence (AI) priorities.

Carney stressed on the emerging digital economy, which many developing nations are preparing for by embracing blockchain technology and decentralized systems.

The Governor of the Bank of England, Mark Carney, has vowed to transform the central bank in preparation for the upcoming “fourth industrial revolution.”

Speaking at the Innovate Finance Global Summit, Carney said that he would focus on encouraging innovation among fintech startup, and making climate change and Artificial Intelligence (AI) priorities.

Carney stressed on the emerging digital economy, which many developing nations are preparing for by embracing blockchain technology and decentralized systems.

The second great wave of globalisation is cresting. The Fourth Industrial Revolution is just beginning. And a new economy is emerging. That new economy requires a new finance. A new finance to serve the digital economy, a new finance to support the major transitions underway across the globe, and a new finance to increase the financial sector’s resilience.

Carney also spoke of the changing nature of the way we exchange value,

Consumers and businesses increasingly expect transactions to be settled in real time, checkout to become an historical anomaly, and payments across borders to be indistinguishable from those across the street.

Though Ripple is not mentioned by name, the kind of solutions that Ripple offers is a partial answer for the kind of upgrade that Carney speaks of. The cross-border solutions that Ripple provides has been warmly welcomed by banks across the world.

Earlier this year, the World Economic Forum released a report that showed over 40 central banks across the world were conducting research and/or implementing blockchain solutions. Certainly there is a lot to be gained by established entities adopting the technology, IMF Managing Director, Christine Lagarde, has also said that “cryptocurrencies clearly shake the world.”

Abhimanyu Krishnan
About Abhimanyu Krishnan

Abhimanyu is an engineer on paper but a writer by living. To him, the most celebratory aspect of blockchain technology is its democratic nature. While he’s hodling, he can be found reading a good book or making the local dogs howl with the sound of his guitar playing.

Source: Bank Of England Governor Might Open Opportunity For Ripple Tech, Says That Payments Across Borders Should Be Indistinguishable From Those Across The Street

Stellar XLM/USD Above $0.1130: Latest Updates Regarding XRP’s Competitor

The 8th largest cryptocoin by market capitalization [current – $2.1 bln] is one of the only in the green as today’s market performance with 3.65% in the green leading the BTC market by 4.00%.

The aforementioned value movement marks out a monthly [30 days of trading] gain of 36.144 percent with the positive April crypto trending tending to go higher. Breaking above the monthly declining trend-line opened gates for further increase at least for the days ahead.

Source: Stellar XLM/USD Above $0.1130: Latest Updates Regarding XRP’s Competitor

Tether’s U.S. Dollar Peg Is No Longer Credible

USDT is the foremost stablecoin in the crypto world. Pegged one for one to the U.S. dollar, it is widely used as a vehicle for getting dollars in and out of crypto exchanges. Crypto enthusiasts will tell you that holding USDT (“Tethers”) is the same as holding dollars. But now, Tether, the issuer of USDT, has now admitted that Tethers are not 100% backed by actual dollars. The peg is no longer credible. And Tether itself has morphed into something all too familiar.

BANGKOK, THAILAND – 2018/08/30: A smartphone displays the Tether market value on the stock exchange via The Crypto App. (Photo by Guillaume Payen/SOPA Images/LightRocket via Getty Images)Getty

Here’s how Tether’s claim of 100% actual currency backing has changed during the coin’s existence. This is what their website originally said:

@CasPiancey

There has never been a “professional audit” of the reserves. After lots of people pointed this out, the wording on the website subtly changed:

Tether drops “professional audits” claim@CasPiancey

Lots of people questioned the “professional verifications”, too. So Tether simply removed all reference to them. It still retained the claim to 100% currency reserves, though:

Tether drops “professional verifications” claim@CasPiancey

But the rumors persisted. And now, it seems, they were justified. This is what Tether’s website now says:

Tether drops “100% currency reserves” claim@CasPiancey

So Tether does not have 100% traditional currency backing for its reserves. It has “cash equivalents,” which are presumably other cryptocurrencies (like pegging to a volatile asset is such a good way of ensuring stability). And some of its “reserves” are held in the form of loans that it has made to other parties. Tether has become an unregulated fractional reserve bank.

It’s a very risky fractional reserve bank, too. Loans that you can’t sell, can’t pledge for cash, and may or may not be able to call are not by any stretch of the imagination “reserves.” No regulator would let a licensed bank get away with this, even though licensed banks have Fed backing and FDIC insurance. Tether may regard one USDT as the same as one U.S. dollar, but without either the reserves or the central bank backing to guarantee this, its words are empty. The Fed isn’t going to step in and bail it out.

Remarkably, though, crypto markets still believe Tether’s guarantee:

Tether vs USD, BTCCoinmarketcap

Perhaps crypto enthusiasts should read up on the fate of Reserve Primary Fund in 2008. Or perhaps Venezuela. After all, an exchange rate peg only holds until the reserves run out…

The crypto world has taken another large step towards becoming a simulacrum of the existing financial system without any of its (admittedly inadequate) safeguards. This is supposed to be progress?

 

Source: Tether’s U.S. Dollar Peg Is No Longer Credible

Over 90% of dApps ‘Did Not Record Transactions’, dAppRadar Data Shows | CryptoGlobe

This, according to data from DAppRadar – which was pointed out by Twitter user Kevin Rooke on February 9th, 2019. As Rooks explains in his tweet, 86% of ETH-based dApps had zero users last Saturday, while 93% did not record any transactions. Although there are reportedly around 40 times more developers focused on creating software for Ethereum (when compared to its closest competitors such as EOS and Tron), ETH-based dApps don’t appear to have lived up to expectations. There are about 1,375 “live” dApps built on the Ethereum blockchain, however the number of active users have remained consistently low. According to data from DAppRadar…………….

Source: https://www.cryptoglobe.com/latest/2019/02/over-90-of-dapps-did-not-record-transactions-dappradar-data-shows/

Federal Reserve Bank of St Louis Recognizes Bitcoin as Permissionless and Decentralized, Says It’s Not Going to Zero

While the naysayers say Bitcoin’s price is ultimately going to zero, a new report from the St. Louis Federal Reserve examines the long-term prospects for Bitcoin’s price, saying the nascent asset is unlikely to fall to zero. The price of Bitcoin fell nearly 85% in 2018 and is now hovering around $3,700. With such a substantial decrease in price, naysayers have been calling for Bitcoin’s demise, saying it has nothing to back up its value and is fundamentally flawed. They’re just waiting for the rest of the market to realize this and move on…….

Source: Federal Reserve Bank of St Louis Recognizes Bitcoin as Permissionless and Decentralized, Says It’s Not Going to Zero

Crypto Prediction: Bitcoin (BTC) If $4,000 Isn’t Inbound, Test Of $3,000 Possible

2019 is finally upon the cryptosphere, which was beaten and bruised to hell and back during 2018. And with this new year, it seems that the powers that be — the whales, Wall Street institutions, industry insiders, and purported manipulators — have collectively decided that to impose a Bitcoin price lull. In fact, a recent report from CoinDesk revealed that BTC’s volatility is down 98% year-on-year, as crypto continues to sip on the proverbial sangria…….

Source: Crypto Prediction: Bitcoin (BTC) If $4,000 Isn’t Inbound, Test Of $3,000 Possible

Crypto Adoption: New Ambitious Academic Plan Turns to Scientific Methods

The cryptocurrency markets have been a rollercoaster over the last few years. The hype of 2017 was quickly replaced by the crypto winter of 2018. Will 2019 be the year of cryptocurrency adoption? Even though Bitcoin and blockchain technology have been around for 10 years, there is currently very little evidence of mainstream adoption. Think about it: When you walk down your local high street, how many stores actually accept cryptocurrency as a payment method?

Source: Crypto Adoption: New Ambitious Academic Plan Turns to Scientific Methods | The Daily Hodl

Blockchain: Not just for cryptocurrency | Educational technology , Erate, Broadband and Connectivity

There’s a lot more to blockchain than Bitcoin.

Source: Blockchain: Not just for cryptocurrency | Educational technology , Erate, Broadband and Connectivity

Crypto Currency Trend Trading Daily Reports

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As a charter subscriber, you get access to the same research results I get each day from my staff. They look at the top 75 coins based on market cap, searching for the specific type of news reports that I’ve identified as being important.

You get those results, so you can compress your research time by concentrating on specifics. You can then strike while the iron is hot. Now I know what you may be thinking…

Well, the simple difference is that signal sellers invest first, then publicize. I don’t do that.I don’t an agenda that drives what news is available to you each day, other than identifying the important reports that fit my criteria. I don’t play favorites.

Plus, you and I get access to the information at the same time. My own investments have nothing to do with what information you get. I’m going to use the information in my way, you can use it in yours.

But we’re on even ground here. I make my investment decisions AFTER the information is published, just like you. In fact, I think it’s important here to tell you exactly…

Here’s what you get each day with your Best CryptoCurrencies membership:

  • A daily spreadsheet showing the coins that were considered. The newsworthy coins are highlighted.
  • A PDF document with links to the news articles cited.
  • Access to our constantly updated resources library, where I’ve curated valuable videos, articles, groups, and channels to help you start, grow, and succeed. The rare times when I can’t find something I think you need, I have it created.
  • Your questions answered. If you have trouble, ask us for help. My staff can address your questions and walk you through your issues. If they can’t help you, I’ll help you find someone who can.

https://i1.wp.com/blockgeeks.com/wp-content/uploads/2017/07/How-to-Protect-Your-Cryptocurrency-Cold-Storage-Paper-Wallet-Guide.png?resize=740%2C387&ssl=1

Best Cryptocurrencies cuts through the noise to give you pinpointed, credible, non-agenda information each day, so you can spend your valuable time wisely. No special software is needed, you can view everything from within your members dashboard.

Best of all, Everything is in layman’s terms and simple to understand. You don’t need to be a cryptogenius who’s mastered chart analysis.

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