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.
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.
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
From a warning about Bitcoin’s 2019 rally to new support for Stellar Lumens, here’s a look at some of the stories breaking in the world of crypto.
A prominent crypto analyst warns the 2019 Bitcoin rally is an “exchange driven pump” that’s due for a significant pullback. According to Willy Woo, Bitcoin’s Network Value to Transactions (NVT) ratio is now way out of whack.
“Presently the market price of BTC has outstripped organic investor flow unseen since the bull market mania phases of 2013 and 2017. Never before have we seen such a divergence so early in the bull market.”
The NVT ratio measures the utility value of Bitcoin according to the number of transactions on the network relative to the price. Because on-chain investor volumes are in the normal range, Woo says the only explanation is “a quant fund driven short squeeze devoid of any true investor volume.”
Whales can short squeeze a majority-short market by buying it up until the shorts are liquidated, forcing a torrent of buys that inflate the price, Woo explains.
“If you have sufficient capital. You can keep buying to liquidate the bears. It’s extremely profitable. You only stop when it’s no longer profitable. At the $8k-9k mark the market switched from short to majority long. This put a cap on the profitability of short squeezing.
“I’m awaiting this exchange driven pump to blow off, a proper retrace, and only then do I think real investor flows will come in and drive the true organic bull market.”
Ernst & Young’s global blockchain leader, Paul Brody, says blockchain is poised to trigger a fundamental transformation of how enterprises do business.
The accounting and consulting giant EY is building on Ethereum, and Brody says use cases for audits and supply chain management are some early examples of prime use cases for the technology.
“What I hope you’ll take away from this today is that blockchain is maturing. We have real products, real customers, real use cases, real value creation, stuff that’s in operations, and we also have a road map for where things can and should go in the future and how this can have an ever-bigger impact…
Blockchains we think are going to be the future way in which companies model and manage their business processes and, in particular, we can basically model any process between two enterprises or two agencies or two governments as a combination of tokens to represent assets and items of value and contract.”
Ripple and XRP
A presentation from Ripple’s chief technology officer David Schwartz is now online. At the We Are Developers in Berlin, Schwartz talks about the future of blockchain beyond the hype.
The Litecoin Foundation’s unique methods for raising funds to support the LTC ecosystem continue.
The Foundation has started to ship custom Litecoin cufflinks and tie bars, with a signed certificate of authenticity from LTC creator Charlie Lee.
Crypto.com has added Stellar Lumens (XLM) to its Wallet & Card app.
Users of the app can now purchase XLM at true cost with no fees, with both credit cards and bank transfers supported. People can also use XLM with Crypto.com’s MCO Visa Card, making it easier to convert Stellar’s token into fiat for purchases from everyday merchants.
Tron’s latest report on the network’s decentralized app ecosystem is out.
According to the report, four new gaming DApps launched on the network this week, along with a decentralized exchange called SunDex.
Blockchain technology which is the core technology behind cryptocurrency is undoubtedly described as a major disruptor of the global business process. However, it does seem like a lot more attention is being paid to cryptocurrencies…. https://www.pivot.one/share/post/5c7b6fcf595ce722c03e7d2d?uid=5bd49f297d5fe7538e6111b6&invite_code=JTOJYV
Since the beginning of the fall, two Nobel Prize winners have been working at Cryptic Labs, the economist Christopher Pissarides and Harvard University professor Eric Maskin….. https://www.pivot.one/share/post/5c790a64016de75c363c42fe?uid=5bd49f297d5fe7538e6111b6&invite_code=JTOJYV
Paraguay has reportedly recently paid for an Argentinian shipment worth little over $7,000 in bitcoin, the flagship cryptocurrency, in an apparent first for both countries. The deal was made as part of new program incentivizing small shipments. According to Cointelegraph en Español, Argentina sold Paraguay pesticides and fumigation products, and paid for the products in BTC, which was then converted to Argentina’s fiat currency, the peso, to pay the agricultural chemicals’ exporter.
On January 8, 2019, the first six tobacco stores in France began selling bitcoin as a result of a deal inked with Keplerk, a French fintech company that intends to expand the sale of bitcoin to 6,500 more stores by February. In November 2018, it was announced that Keplerk, a French fintech company, would be partnering with tobacco shops in France to make bitcoin as easily purchasable as cigarettes. Now, the first 6 tobacco shops in France have begun selling bitcoin alongside their products and according to the management of Keplerk, there are plans to bring aboard as much as 6,500 more shops by February……
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Earlier this month, Huobi Group officially announced the opening of its Russian office, launched in partnership with the VEB Digital Transformation Center and Russian experts in the field of blockchain and exchange trading. According to the latest announcement, the legal competence center has been launched with the support of VEB’s Digital Transformation Center. The legal lab will be led by Elina Sidorenko, Professor at Moscow State Institute of International Relations (MGIMO).
Bakkt, the digital assets platform developed by Intercontinental Exchange – the operator of New York Stock Exchange (NYSE), has secured $182.5 million in its first round of funding. According to the official announcement, the funding round saw participation from Boston Consulting Group, CMT Digital, Eagle Seven, Galaxy Digital, Goldfinch Partners, Alan Howard, Horizons Ventures, Intercontinental Exchange, Microsoft’s venture capital arm, M12, Pantera Capital, PayU, the fintech arm of Naspers, and Protocol Ventures…..