Visa Head of Crypto Says Central Bank Digital Currencies Could Boost Bitcoin (BTC) – Here’s How

Cuy Sheffield, Visa’s head of crypto, says the emergence of central bank digital currencies (CBDCs) will become a dominant trend in the future.  In a series of tweets posted on Saturday, the Visa executive emphasizes that interest in CBDCs is just getting started. “I’d argue that central bank digital currency (CBDC) is one of the most important trends for the future of money and payments over the next decade. Regardless of anyone’s personal views of whether it’s good or bad, the reality is that global interest in it is not going away.”…

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Cosmos, Polkadot Join Terra In New DeFi Savings Project

Guided by a belief that decentralized finance (DeFi) is still missing “a simple and convenient savings product,” South Korea-based stablecoin issuer Terra (LUNA) has revealed Anchor, a new DeFi project. The new platform will be governed by a newly formed organization the Interchain Asset Association, consisting of individuals associated with Terra, as well as blockchain platforms Cosmos Network (ATOM) and Polkadot (DOT). Speaking in a livestream for the Unitize online conference yesterday, Terra CEO Do Kwon revealed the new blockchain platform, which promises to pay savers what is described as a “dependable APR” (annual percentage yield)…

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Crypto Spot Trading Halved in June; Kraken’s Move in Europe + More News

This is your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Exchanges news Spot trading volumes on both top tier and lower tier crypto exchanges plummeted in June to USD 177bn (-36%) and USD 466bn (-53%) respectively, said the latest report by CryptoCompare, a provider of the crypto market data. Crypto derivatives volumes dropped 36% to the 2020 lowest monthly volume of USD 393bn, while total spot volumes dropped 49% to USD 643bn. Thus, derivatives represented 37% of the market in…

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How CBDCs Might Change Our Daily Payments

“The only advantage of having a bank account is that it enables digital payments.” “For regular people CBDC wallets will be treated as alternatives for card payments.” Traceability may not be desirable for more privacy-minded consumers. Central bank digital currencies (CBDCs) could provide consumers with cheaper and faster payments, according to experts in the cryptocurrency and blockchain industry. They’ll sidestep the need for an account with a commercial bank, and in the process will reduce many of the costs and risks that come with the commercial payment system. In fact,…

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A Russian Blockchain Referendum Voter Managed to ‘Spoil Their Ballot’

Russian electoral officials are claiming success in the country’s recent referendum on constitutional reform – which saw the country make use of a blockchain-powered voting platform for the first time on a national scale. However, one tech-savvy voter appears to have pulled off a remarkable feat – by spoiling their blockchain-powered ballot paper. As previously reported, citizens in the cities of Moscow and Nizhniy Novgorod were given the option of casting their votes via smartphone or computer, with 1 million Muscovites and 140,000 residents of Nizhniy Novgorod registering to vote. However,…

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Former US Head of Treasury Lawrence Summers Backs Cryptocurrency

In an interview between CEO of the digital currency company Circle —Jeremy Allaire and Former US head of Treasury Lawrence Summers, the latter advocated for cryptocurrency’s benefits. He stated that what appeals to him about cryptocurrency is that it reduces payment friction. In other words, cryptocurrency increases the speed of transactions and eliminates a third-person mediator. A little about Laurence Summers Laurence Summers was originally the head of the US Treasury, under President Clinton. He was also the former director of the National Economic Council under Obama’s presidency. Similarly to President Donald Trump, Summers…

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Governments Will Eliminate Bitcoin, Says Investor Jim Rogers

Will decentralized cryptocurrencies like Bitcoin—that are beyond the influence of Sovereign Governments—be allowed to survive? Not according to American investor and financial commentator Jim Rogers. The emergence of Bitcoin and cryptocurrencies have captured the attention of the financial world as a new way forward for global trade, money issuance, capital movement, and trust. But how long do we really believe that governments, such as the United States and China, will allow the mechanism for their own destruction to survive? How influential would the United States be without the dollar squarely positioned at…

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Telegram Users’ Data on Dark Web, Arrest for Buying Bitcoin + More News

Crypto Briefs is your daily, bite-sized digest of cryptocurrency and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Crime news A Russian website alleges that data on an undisclosed number of Russian and Iranian Telegram users is circulating on the dark web. Per Kod.ru, dark web sites are offering a download of a 900-megabyte file, which contains phone numbers, user login names and other details on of a group of users, 30% of whom are Russian and 70% of whom are Iranian. A Singaporean national named Lange Vivian…

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Why Banks Hold the Key to Wider BTC Adoption and Hyperbitcoinization

Banks will be instrumental in bringing about wider cryptocurrency adoption. Without their involvement, the general public will continue to view crypto as a less-than legitimate part of the world of finance. Admittedly, the vast majority of financial institutions still view bitcoin (BTC) and other cryptocurrencies with suspicion. That said, some are slowly starting to embrace crypto and blockchain, which in turn is likely to pressure their rivals to follow. And according to a range of experts, once banks embrace crypto more fully, they’re likely to provide the seamless user experience and easy…

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Japan: SBI to Issue Blockchain-powered Local Gov’t Gift Certificates

SBI Holdings, a Japanese financial giant, crypto exchange operator and Ripple’s biggest Asia-based partner, is to begin developing blockchain-powered gift certificates with the Fukuoka Chamber of Commerce and Industry. Per Fisco, via Kabutan, the initiative will be conducted in the city of Ukhia, in Fukuoka Prefecture. The Chamber of Commerce and Industry regularly issues gift certificates in an attempt to boost the local economy, but in the past has mainly done so using paper-based solutions. However, as the coronavirus pandemic continues to disrupt life in the prefecture, the province instead wants to digitize its…

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