The central banks worldwide have been concerned for some time about the rising market trends towards cryptocurrencies. Among other institutions, the Bank of England and the Swedish Riksbank have published papers and have declared an interest in the emerging crypto industry. The resilient nature of Bitcoin continues to astound governments (and central banks) despite years […]
In the financial world individuals who lack access to banking or financial services are often described as “unbanked”. A vast majority of unbanked individuals use cash, and many do not have any retirement and savings accounts, insurance, pensions, and other safety nets. Globally, only 69% of adults, or close to 3.8 billion people, carry a […]
Cryptocurrencies are gaining massive popularity, and no one can deny that. Between 2018 and the last quarter of 2020, the number of cryptocurrency users increased by 66 million. Both the private and public sectors are eagerly embracing cryptocurrencies as a means for payments, storing value, and investing. Decades ago, when cryptography began to advance digitally, […]
The dominance of the cryptocurrency market is undeniable as it sits with a market cap of over $1 trillion. With Bitcoin worth over $600 billion, the underlying blockchain technology poses a threat to the traditional financial systems. The transparency, security, and decentralization offered by almost every cryptocurrency far outweighs heavily centralized traditional financial institutions on […]
Cryptocurrencies were introduced as a viable alternative to fiat currencies and the traditional financial system. The financial crisis of 2008 birthed the urge for producing an asset or a financial system that is decentralized, immutable, resistant to political interference, secure, anonymous, and easy to use. This urge was fulfilled by the mysterious person named Satoshi […]
The rise of the chaos amidst the pandemic proved that traditional finance isn’t prepared for situations like these. The rise of the COVID-19 pandemic left national economies and businesses taking huge jabs, as governments struggled with lockdown measures to control the spread of the virus. The chaos insinuated by the pandemic left big shifts in […]
What New York is up to with cryptocurrencies Decentralizing technologies in blockchain and cryptocurrencies were so disruptive in the global financial systems that no amount of regulation can stop its explosive influence. The Internet-based platforms blasted through walls and borders of regulation without signs of abatement to the wonder of fiat users who would not […]
One a legit business can’t live without The development of blockchain technology and smart contracts digitized what has been the traditional financial culture of recording every money movement via receipts such as sales receipts, bank statements, invoices, credit vouchers, and a replacement order. Whatever the case, money movement is documented and recorded in an attestation […]
Today’s world is manifesting a revolution in technology that is proving beneficial in the many ways transactions are conducted. Take the case of legacy systems that long dominated control via centralized power. Bitcoin’s introduction of the distributed ledger technology (DLT) in 2008 finally broke the clutches of centralization to make possible the running of effective […]
A problem that refuses to go away can become your problem, too. The digital world we are in today relies heavily on communication and the exchange of information. The faster, the better? Maybe. After the pandemic hit, the Internet became all the more the main means upon which we relay messages from one point to […]
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