Binance Coin Price Analysis: BNB Records New ATH Following Binance’s Latest IEO Announcement

Binance Coin Price Analysis: BNB Records New ATH Following Binance’s Latest IEO Announcement    

    

Binance Coin continued its bull run today,

rising by 2.71% to reach a fresh all-time high (ATH) value of $36.91. In the past three months, BNB is up by more than 147%, and the cryptocurrency is up around 500% on the year. Its most recent rally followed the announcement of the latest initial exchange offering (IEO) to be held on Binance Launchpad. The project is called Elrond and the event will take place on July 1. Meanwhile, BNB remains the seventh-largest cryptocurrency by market capitalization, sitting on a market cap of around $5.1 billion.

Looking at the BNB/USD 1-day chart:

  • Since our previous BNB analysis, BNB/USD has continued to climb above the $34 level. The cryptocurrency surged past the $36.22 resistance level to reach an ATH at $36.42. The coin’s price is now back on its way to the $36.22 resistance level.
  • From above: The nearest level of resistance lies at $37. Above $37, further resistance is found at $38 and $38.53 (where the medium-term 1.618 Fib Extension lies). The next level of strong resistance above $39 is at $40. If the bulls push the price above $40, more resistance is at $42 and $42.66.
  • From below: The nearest level of support lies at $36.22. Beneath this, additional support is found at $35, $34.20, $32.41, $31.20, and $30. If the selling continues beneath $30, further support can be expected at $28, $26.60, and $25.18.
  • The trading volume has remained very high during May and June.
  • The RSI recently bounced from the 50 level, indicating that the bulls remain in control of the market momentum. The RSI has more room to go higher before becoming overbought, which suggests that the bull run can continue.

Looking at the BNB/BTC 1-day chart:

  • Against Bitcoin, BNB has also continued to climb above the 100-day EMA at around 0.003680 BTC. Binance Coin recently reached the 0.004 BTC level where it met resistance.
  • From above: The nearest level of resistance lies at 0.004 BTC. Above this, further resistance is found at 0.0042 BTC, 0.0044 BTC, 0.004615 BTC, and 0.0048 BTC. If the bulls continue north, additional resistance lies at 0.004920 BTC, 0.0050 BTC, and 0.0052 BTC.
  • From below: The nearest level of support now lies at 0.003785 BTC. Beneath this, support is found at 0.003680 BTC, 0.003555 BTC, and 0.003420 BTC. If the selling continues, more support stands at 0.0031880 BTC, 0.0031 BTC, and 0.0030 BTC.
  • The Stochastic RSI recently produced a bullish crossover signal in the oversold territory, indicating that the previous round of selling has run its course. Furthermore, the RSI itself is currently battling the 50 level as the bulls attempt to take control of the market momentum.

Article Produced By
Yaz Sheikh

Yaz is a cryptocurrency technical analyst with over seven years of technical analysis trading experience. As an Economics graduate, he has taken a keen interest in the future potentials of blockchain in the financial industry. Removing crypto from the equation, Yaz loves to watch his favorite football team and keep up-to-date with the latest fights within the UFC.

https://cryptopotato.com/binance-coin-price-analysis-bnb-records-new-ath-following-binance-next-ieo-announcement/

David https://markethive.com/david-ogden

Ripple Partners MoneyGram to Enhance Cross-border Payments with XRP

Ripple Partners MoneyGram to Enhance Cross-border Payments with XRP

                                 

 

Ripple has secured another major partnership with international money transfer company MoneyGram.

This will allow the company to use Ripple’s native token XRP to provide liquidity for international payments to MoneyGram customers. This is in a bid to enhance the speed and efficiency of the payment system that MoneyGram operates. In an interview with Fortune on the partnership, Ripple CEO Brad Garlinghouse said: “This will eliminate the need to deploy foreign bank accounts. That’s why MoneyGram has negative working capital. It will help customers and also smooth out their treasury operations.”  The partnership also gives Ripple an 8% to 10% stake in MoneyGram by paying $4.10 per share. This, however, does not give Ripple a voice in the dealings of MoneyGram for now as part of the agreement.

MoneyGram, on the other hand, will have the opportunity of reviving its financial standing from Ripple’s investment which it direly needs after its share price crashed significantly.  It will also increase the efficiency of the payment platform, the management said. “We are very pleased with the terms of the Ripple investment which supports the Company with permanent capital and additional liquidity,” Larry Angelilli, chief financial officer of MoneyGram, said in a statement. “This partnership also provides MoneyGram with the opportunity to improve operating efficiencies and increase earnings and free cash flow,” Larry Angelilli, the chief financial officer of MoneyGram said.

Ripple is the leader in remittance services as far as the blockchain industry is concerned. Its xRapid is second to none in terms of transaction efficiency and speed. With the new partnership, XRP which will be used for liquidity will be exposed to MoneyGram’s customers in over 200 countries globally. MoneyGram is the second largest provider of money transfer services in the world and while partnering with Ripple will ensure better service delivery to its customers, it is also a huge breakthrough for Ripple which has been looking to expand its reach further into the world. With hundreds of clients using Ripple’s payment platform, the company has grown significantly thus improving the international remittance settlement market by improving customer experience in conventional financial institutions.

Article Produced By
Ponvang Bulus

Ponvang is a cryptocurrency enthusiast, investor and writer. He's particularly interested in trending issues in the crypto space both technical and financial and lovOKes to write about same.

https://zycrypto.com/ripple-partners-moneygram-to-enhance-cross-border-payments-with-xrp/

David https://markethive.com/david-ogden

Unstoppable Domains Set to Auction 60 Blockchain-based Domains

Unstoppable Domains Set to Auction 60 Blockchain-based Domains
                                 

Unstoppable Domains, a software firm that builds blockchain-based domains

which host uncensorable websites, has released a list of 60 .zil domains it plans to auction off on June 27, 2019, according to a press release on June 17, 2019.

The 60 Most Watched Domains

As stated in its press release, the San Francisco-based startup Unstoppable Domains has released a list of the “most wanted” domains it plans to auction off to the highest bidders on June 27, 2019. According to the firm, the 60 most watched .zil domains are: bitcoin, crypto, porn, blockchain, money, insurance, gold, cars, hotels, satoshi, bra, zil, usa, bank, wallet, beer, ethereum, carinsurance, lasvegas, pay, trump, weed, travel, toys, pizza, cannabis, xxx, litecoin, privatejet, music, xrp, fb, z, shop, 366, coffee, coin, cash, vacationrentals, porno, hotel, payme, booking, diamond, insure, game, exchange, 1, ripple, donaldtrump, abc, cardano, auction, shoes, ai, car, we, domain, elonmusk and israel. The firm claims the top bitcoin.zil domain has already attracted 505 potential buyers. Commenting on the matter, Matthew Gould, CEO of Unstoppable Domains, expressed his excitement over the growing enthusiasm people have shown towards its product so far.

He said:

“These domains provide two very essential benefits to users: they enable people to send cryptoto a single human readable name, and they offer a platform to create uncensorable websites. The concepts of free speech and growing the cryptosphere are really resonating with our customer base.”

Specifically, the team has made it clear that the auction will be divided into two broad phases. During phase one, the above listed 60 watchlisted domains will be auctioned for a “buy now” price of $10,000 each. Interested buyers can pay for the domains with either bitcoin (BTC), ether (ETH), litecoin (LTC) and bitcoin cash (BCH).

In phase two, zilliqa (ZIL) will be the only accepted mode of payment and bidding will start between $10 and $1,000 depending on the price of the particular domain in the pre-order phase. Participants cannot bid above $10,000. Each new bid must be at least five percent higher than the previous bid, and if a person is outbid, they will get their funds back immediately. The team says the auction event is open to participants from across the globe and anyone can watch the auctions live. In related news, in September 2018, BTCManager informed that the Ethereum Name Service (ENS) announced that users would be able to claim their unique .xyz domain names on the ENS platform. 

Article Produced By
Ogwu Osaemezu Emmanuel

https://btcmanager.com/unstoppable-domains-set-auction-60-blockchain-domains/?q=/unstoppable-domains-set-auction-60-blockchain-domains/&

David https://markethive.com/david-ogden

Zilliqa Collaborates With Xfers to Bring the Benefits of Blockchain to Southeast Asia

Zilliqa Collaborates With Xfers to Bring the Benefits of Blockchain to Southeast Asia

                                 

One cryptocurrency project that has engaged in new initiatives

to improve customer service and boost adoption is Zilliqa. According to recent reports making rounds in the crypto space, the public Blockchain platform, Zilliqa has announced a new partnership with Xfers. The goal of this accord is to bring new innovations through Xfers’ enterprise solutions, such as support for payments, built-in digital wallet, and regulatory compliance to name a few. Zilliqa has revealed that it is partnering with MAS (Monetary Authority of Singapore)-approved WA SVF (Widely Accepted Stored Value Facility), Xfers, to develop more Blockchain uses when it comes to payment solutions powered for more than 500,000 users in the Southeastern part of Asia.

About Xfers

Xfers was founded in 2014. The company has an extensive portfolio of big clients in the fintech industry including Tunaikita and Julo two of the largest Southeast Asian peer-to-peer lending platforms. Another of Xfers client’s is Payfazz. Payfazz is an Indonesian based financial platform.

This service is extremely important for people who are unbanked. Take these stats as an example, the entire South East Asia as a whole is home to a mobile connectivity rate of about 133%. This is because some people own multiple SIM cards or mobile phones. However, only about 27% of this population have bank accounts. Cambodia is another region with extreme mobile connectivity rate of about 173%. However, only 13% of the full population of users have bank accounts. However, with the help been offered by Xfers’ payment infrastructure built on the smart contracts layer of Zilliqa, Xfers’ pool of enterprise solutions can come new innovations that offer support for payments, disbursements, regulatory compliance, and add a built-in digital wallet, to name a few.

The Goal is to Create a Digital Financial System in Southeast Asia

Speaking on the new initiative Tianwei Liu, who serves as the CEO and Co-founder of Xfers, said: “The vision of Xfers has been to create a trusted, digital financial system in Southeast Asia. Home to 600 million people, the Southeast Asian market is still predominantly unbanked. At least 70% of citizens have no access to the basic financial system.”

By partnering with Zilliqa, the goal is to provide cutting-edge solutions that will grant equal opportunities to citizens as well as cost-saving solutions for businesses to run digitally who are looking to come to the region. As we move into the next growth phase for financial innovation, it is only the most robust tech solutions that will allow us to embrace a digital economy fully,” he added. Zilliqa is known as an enterprise-grade open Blockchain platform designed to use sharding as its on-chain solution to help sustain decentralization and allow greater scalability. To date, Zilliqa’s Blockchain can process as many as 2,828 transactions per second.

Singapore Has a Large Base of Xfers Users

Xfers has great value for Singaporeans. Nearly all fiat to crypto bridges in the country use Xfers. Xfers is the preferred payment model on Singapore’s Coinhako exchange. An Xfers account is the sole payment method on the Singapore arm of Binance exchange. Xfers used to be Coinbase’s main payment model in Singapore until its volume became untenable. As of press time, the price of ZIL was trading at $0,024.

Article Produced By
Brian Lubin

Brian Lubin is a Crypto News Reporter for Smartereum. He's well-known for his reports on the crypto markets.

https://smartereum.com/58333/zilliqa-day-2019-zilliqa-collaborates-with-xfers-to-bring-the-benefits-of-blockchain-to-southeast-asia-cryptocurrency-news-cryptocurrency-market-update-zil-usd-live-pric/

 

David https://markethive.com/david-ogden

Gitcoin and ConsenSys Labs partner for Beyond Blockchain hackathon

Gitcoin and ConsenSys Labs partner for Beyond Blockchain hackathon

                           

Gitcoin and ConsenSys Labs will host a three-week virtual hackathon called Beyond Blockchain

from June 24–July 10. The event gives participants the chance to win prizes in Ethereum and ERC-20 tokens posted as bounties on Gitcoin. According to the announcement, the event focuses on bringing blockchain tools and technologies to a wider audience.

Funding open-source projects

$10,000 in prizes are up for grabs in categories like media, healthcare, and decentralized finance and more sponsorships and bounties will be announced as the event approaches. Prizes will be offered as bounties on Gitcoin’s platform using a featured hackathon prize explorer. The virtual hackathon continues efforts by Gitcoin and ConsenSys to develop funding for open-source projects. Interested developers, designers, and entrepreneurs can sign up here. Organizations interested in pitching sponsorships related to the event’s theme of increasing the adoption of blockchain tools and technologies can contact alex.voto@consensys.net. Gitcoin has promised to deliver more announcements regarding prizes and bounties in the weeks approaching the hackathon.

Previous events

The announcement comes just over a month after the close of the Ethereal Virtual Hackathon, and Ethereal Summit New York. Held in partnership with Microsoft, the hackathon saw over 600 participants competing for $67,000 in prizes offered by 14 different companies. Gitcoin offers a crowdfunding platform connecting projects with software developers. The project boasts 20,000 developers who have completed over 4,000 projects for a total of more than $1.5 million using the platform. Gitcoin’s hackathons give participants the opportunity to meet and work with important figures in the open source ecosystem. ConsenSys Labs is the venture arm of Consensys, supporting projects in the Ethereum ecosystem through seed and pre-seed investments and their accelerator.

Article Produced By
Seth Goldfarb

Seth is a Seattle-based writer who helps businesses using blockchain tell the stories of their success. His work has been published in CryptoSlate, Hacker Noon, and Coin Review and clients have included Evernym and Aave. Seth also maintains a calendar of Seattle-area blockchain events at www.pnwblockchain.com.

https://cryptoslate.com/gitcoin-consensys-labs-partner-beyond-blockchain-hackathon/

David https://markethive.com/david-ogden

Piixpay Lets You Pay Bills and Invoices With Cryptocurrency

Piixpay Lets You Pay Bills and Invoices With Cryptocurrency

Piixpay Lets You Pay Bills and Invoices With Cryptocurrency

If you need to regularly cover fiat payments but prefer to use your digital assets, a platform like Piixpay can be very helpful. The payment provider allows you to use cryptocurrencies to pay invoices, bills and make other recurring payments to recipients that still accept only traditional money.

Spend Bitcoin Cash, Make Fiat Payments

To initiate a new payment with Piixpay you have to provide the beneficiary’s name and Iban number. You are required to enter the exact amount in euros, as the platform processes bank transfers in Europe’s single currency. You also need to add a short description of the transaction and an optional reference number.

Then you have to choose the crypto you are going to spend. Piixpay currently supports four major digital coins – bitcoin cash (BCH), bitcoin core (BTC), litecoin (LTC), and dash (DASH) – as well as a stablecoin backed by euros. Est-coins (ESCT) are issued by Piixpay’s operator, Ungaro LLC, and have a redemption value of €1 per coin.

Piixpay has another useful feature called Instafill. It lets you link a crypto wallet address to a bank account. Each time coins are sent to that dedicated address, the payment processor will exchange the cryptocurrency and send the fiat to your bank account. You can also check the status of any payment at all times.

To use the services of the crypto payment platform you have to create an account. You can sign up with a valid email address or use your Facebook, Google, Linkedin, Windows or Yahoo account. Piixpay is registered and licensed in Estonia but it operates in over 100 countries around the world.

There’s a service fee of €1 + 1.75% of the amount for transactions funded with cryptocurrencies. Bank transfers cost €1 for transactions within the Single Euro Payments Area (SEPA) and €40 for outside the zone. The smallest amount you can transfer is 1 euro and each transaction is limited to a maximum of €20,000. You can find more information about all applicable fees on Piixpay’s website.

David https://markethive.com/david-ogden

3 Reasons why BitMesh’s Removal of XRP Won’t Matter Much

3 Reasons why BitMesh’s Removal of XRP Won’t Matter Much

                              

There are dozens of cryptocurrency exchanges and trading platforms around the world.

Some companies have a better reputation and reach than others, which is only normal in this nascent industry. BitMesh, while not the most popular exchange, will delist various trading pairs. One of them is XRP, which raises a fair few questions.

The Surprising Removal of XRP from BitMesh

In an email sent out to its customers, the BitMesh team explains how several altcoins, tokens, and assets will be removed from the platform over the next few days. While most of these offerings will not cause anyone to lose sleep whatsoever, the removal of XRP is a rather noteworthy development in its own right. It is one of the top markets in this industry, thus one has to wonder what has driven this decision exactly. There are many different reasons which may contribute to such a turn of events. At this time, it is evident XRP is one of the least liquid markets on the Bitmesh trading platform. It is only traded against Bitcoin, which will not exactly get too many people excited right away. This trading pair is also available on virtually all major trading platforms, where volume is not an issue whatsoever.

No Real Impact on Trading Volume

With the low trading volume offered by Bitmesh, it seems this delisting will not cause any major concerns in that regard either. Ripple’s native asset can be traded across roughly 400 trading pairs, which doesn’t even include BitMesh. There are also quite a few other exchanges which don’t node any real trading volume for this asset right now, yet they show no indication of removing this pair anytime soon. It is rather remarkable to see how much trading volume XRP can generate these days. A fair few trading pairs focus on the USDT market or fiat currency pairs, which are a lot more popular than trading the asset against Bitcoin these days. Albeit Bitmesh also provides USDT and USDC trading, it never allowed Ripple’s asset to be a part of that select club, for some unknown reason.

Price Impact Should be Minimal

While it is never good to learn a particular market will be removed from an exchange without much of an explanation, this decision will not disrupt XRP’s overall price trend. The exchange in question is too small to have any notable effect in that regard, although there might be a few panicky Tweets and other social media messages moving forward. For most users, it is best to ignore any panic-spreading attempts or FUD regarding Ripple’s asset. After all, this is a very minor exchange taking a course of action which has seemingly everything to do with liquidity rather than anything else. It is still advised BitMesh users withdraw the to-be-removed assets in the next two weeks, as no further withdrawals will be honored afterward.

Article Produced By
JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers.

 

https://nulltx.com/3-reasons-why-bitmeshs-removal-of-xrp-wont-matter-much/

David https://markethive.com/david-ogden

Coinbase, Spotify and eBay Reportedly Among List of Corporate Giants Backing Facebook’s New Cryptocurrency

Coinbase, Spotify and eBay Reportedly Among List of Corporate Giants Backing Facebook’s New Cryptocurrency

  •                   

 Facebook’s upcoming cryptocurrency, aka “GlobalCoin” and “Libra”,

will reportedly be governed by a new consortium of corporations and non-profit organizations. The social media giant established the Libra Association to include over a dozen companies that will act as founding members of Project Libra to launch Facebook’s new stablecoin. GlobalCoin, pegged to multiple currencies, is expected to debut early next year. The Block has published a list of the consortium’s founding members who will reportedly invest $10 million each.

Founding Members of Facebook’s Libra Association

Anchorage, Andreessen Horowitz, BisonTrails, Booking Holdings, Calibra (Facebook subsidiary), Coinbase, Creative Destruction Lab, eBay, Farfetch, Iliad, Kiva, Lyft, Mastercard, MercadoLibre, Mercy Corps, PayPal, PayU, Ribbit Capital, Stripe, Thrive Capital, Uber, Union Square Ventures, Visa, Vodafone, Women’s World Banking, Xapo

Unlike other cryptocurrencies that are trying to spur adoption and build recognition, Facebook’s coin will capitalize on its household name and the ability to eventually leverage its user base of 2.5 billion monthly active users. According to reports about Project Libra’s GlobalCoin, which has been under wraps for months, it’s designed to spawn a global network of crypto transactions including cross-border and domestic payments among friends and family with PayPal-like ease and Facebook-friendly features. The network, if successful, could power a global platform for e-commerce transactions among merchants worldwide. It could also position Facebook to offer more financial services and compete with banks.

Article Produced By
Daily Hodl Staff

https://dailyhodl.com/2019/06/15/coinbase-spotify-and-ebay-reportedly-among-list-of-corporate-giants-backing-facebooks-new-cryptocurrency/

David https://markethive.com/david-ogden

Cardano Updates Its Roadmap – What’s In For Investors?

Cardano Updates Its Roadmap – What’s In For Investors?

                             

Cardano (ADA), the proof-of-stake (PoS) blockchain network built on peer-reviewed academic research,

is being developed into a decentralized application (dapp) development platform with a multi-asset ledger and verifiable smart contracts. Cardano’s blockchain aims to be highly scalable, interoperable, and sustainable for real-world applications on an enterprise level to build the economy of the future. While that all sounds amazing, the project still has a lot of work to accomplish, and IOHK (Input Output Hong Kong), the parent company of Cardano, has released an updated roadmap outlaying progress towards its 2020 vision:

Cardano’s 5 Eras

Cardano’s roadmap can be broken down to 5 eras, namely Byron (Foundation), Shelley (Decentralization), Goguen (Smart Contracts), Basho (Scaling), and Voltaire (Governance). Each of the eras is centered around a primary goal with various releases and developments throughout the era to achieve this goal. The eras are completed sequentially, with research and development of future eras overlapped with one another (some of the work is being done in parallel). The first era (Byron) was officially completed this year, and now the primary focus is on completing the Shelley era. Currently, Cardano is in the Gougen era but is still very much focused on Shelley, which is supposed to be completed by the end of the year. Shelley’s mainnet is now live, and as its development continues, research and development for Goguen, Basho, and Voltaire will begin in parallel. Cardano’s roadmap is only updated until the end of 2020. By this time, Cardano’s development is expected to be vastly completed, and the focus will be on the blockchain’s governance (the Voltaire era).

Final Thoughts

As seen in the image above, the era we are currently in (Goguen) is right in the middle. It is intended to be one of the most formative eras of Cardano’s roadmap, as it’s tipped to be the one that brings mass adoption. However, IOHK is still working on finalizing Shelley, and then Goguen is set to be completed in the first half of 2020. By then, it’s expected that Cardano will have achieved a sufficient level of adoption with real-world use cases. A competing cryptocurrency project that has already achieved real-world adoption is Ethereum (ETH), which is being adopted by enterprise businesses such as Deloitte, Microsoft, Amazon, Ernst & Young, and others. Therefore, Cardano has some serious competition, and it will be interesting to see how these two projects compete once their roadmaps and blockchain technology are completed.

Article Produced By
Jeremy Wall

https://www.investinblockchain.com/cardano-updates-its-roadmap-whats-in-for-investors/

 

David https://markethive.com/david-ogden

Facebook’s Crypto Division Brings on Uber, Visa & PayPal as Backers as Globalcoin Nears

Facebook’s Crypto Division Brings on Uber, Visa & PayPal as Backers as Globalcoin Nears

                              

Facebook Bags Investments With Uber, Visa, PayPal For Venture

Traditional fintech firms, save for Bitcoin pundit Jack Dorsey’s Square, have been slow to adopt cryptocurrency. While PayPal has dabbled in the arena, purportedly launching a digital token for internal testing last year, firms like Visa, Mastercard, and their ilk have been hesitant to take the plunge. In fact, an executive — the chief executive — from Mastercard called crypto “junk” last year, citing the lack of transparency and their non-conformity to traditional finance. This is quickly changing though, with news that the aforementioned firms are investing in Facebook’s digital asset play. Reported Tuesday first by The Wall Street Journal, three major fintech companies are looking to invest a likely competitor to their own services. This competitor, as aforementioned, is Facebook’s foray into the cryptocurrency industry. The Journal, citing sources familiar as normal, claims that Visa, Mastercard, PayPal, the recently-‘IPOed’ Uber, Stripe, and other big names in finance/tech will be contributing around $10 million to an entity that governs the coin.

This capital will be used to purchase assets meant to back the cryptocurrency, which is most likely going to be a stablecoin tied to a basket of fiat currencies. This $10 million lines up with recent reports that revealed Facebook will be charging that eight-figure sum to those looking to run nodes for the cryptocurrency. This recent report, which comes after rumors indicated Facebook has been in discussion with giants like Visa, was dropped just ahead of the supposed June 18th release date of the whitepaper of “Globalcoin”, the name of the cryptocurrency. As Blockonomi has covered extensively, Globalcoin will likely be a private cryptocurrency that allows for low-cost, rapid, and borderless value transfer between Facebook’s billions of clients.

Globalcoin to Boost Crypto, Aid Bitcoin Adoption

Anyhow, regardless of Globalcoin’s exact nature, some have ventured that its launch will be the largest catalyst for Bitcoin adoption — and thus price — in this industry’s history. Blockchain Capital’s Spencer Bogart broke down his thoughts on the matter in an extensive Twitter thread. Put short and sweet, the stablecoin is “among the most bullish external tailwinds for Bitcoin in 2019/2020”. Bogart adds that the only bigger catalyst for BTC growth will be quantitative easing (an inflationary fiscal policy), which he calls a “reinvigorated push among central banks for easy-money globally”. Explaining the importance of Facebook’s Globalcoin, Bogart explains that the corporate cryptocurrency “eases the biggest friction in acquiring digital assets”, in that it makes getting fiat into this ecosystem extremely easily. Once fiat is allocated towards Globalcoin, the investor assumes that value can flow easily between the Facebook ecosystem and something like, let’s say, Bitcoin or Ethereum.

He writes:

“Facebook making a concerted push for digital asset adoption and creating a circular economy is great because it solves that friction point. Once people are holding/earning a digital asset, it’s relatively trivial to go from, for example, USDC to BTC.”

Also important is that Globalcoin will catalyze growth in cryptocurrency infrastructure, pushing companies to build everything from custody and wallet services to compliance measures and exchanges. In fact, the investor postulated that once Globalcoin hits the mainstream, “large financial institutions” will be incentivized to join in on the bandwagon.

Not Flawless

Many still see issues with Globalcoin, however. Most notably, issues with privacy and governmental oversight. Just the other day, Mark Zuckerberg was thrown into yet another scandal involving the privacy of his creation’s users. Emails published by the Journal on Wednesday revealed that Zuckerberg has been involved in “potentially problematic privacy practices”. More specifically, the Silicon Valley all-star mentioned issues with privacy in emails, evidently accentuating that he has been following these situations closely. The thing is, for the longest, Facebook has been slow to act in terms of stemming privacy issues. And some fear that this seemingly negligence may continue with Globalcoin.

Article Produced By
Nick Chong

Nick has been enamored with cryptocurrencies since finding out about them in 2013. He now reports on crypto- and blockchain-related news for a number of leading outlets.

https://blockonomi.com/facebook-crypto-uber-visa-paypal/

David https://markethive.com/david-ogden