New Zealand Legalizes Payment Of Salary In Cryptocurrencies

According to the August bulletin published by New Zealand’s tax office,

also known as the Inland Revenue Department (IRD), the government has made it legal to receive salaries in cryptocurrencies, and be taxed accordingly. The agency published a new ruling under the Income Tax Act (in relation to section RD 3), where it states that any employee can receive cryptocurrencies as a salary as long as these payments are related to the services performed under an employment contract. Said services must be performed for a fixed amount and form a regular part of the employee’s remuneration.

The crypto assets have to be paid in accordance with the working contract, but most importantly, the cryptocurrencies have to be able to be exchanged for fiat if the worker desires to do so. Cryptocurrencies also must have the primary purpose of acting as a currency or be pegged to the price of one or more fiat currencies. The bulletin further states that any salary paid in crypto assets will be treated as PAYE (pay as you earn) income payments. These types of taxes are deducted by the employer and passed onto the tax department directly. This ruling is set to go into effect on September 1st, 2019.

Article Produced By
CryptoCoin.News

https://cryptocoin.news/news/new-zealand-legalizes-payment-of-salary-in-cryptocurrencies-29246/

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

Who could be the biggest Libra user in the future?

Facebook’s Libra project has gone through more than enough government

and community criticism, but it still seems to be on its way to be launched sometime in the future. Sure there have been some rumors that several Libra Association members want to leave the project, but no matter how many will try to leave the project, new players will join it regardless of the overall outlook.

In the wake of so much criticism and uncertainty, multiple crypto enthusiasts tend to ask the question, “Who would actually risk using the Libra cryptocurrency?”. It’s an understandable concern considering how Facebook has been involved in data disclosure multiple times. Having one’s personal information from social media disclosed to the highest bidder may not be a life-changing issue, but having one’s financial details be in the same danger is much more serious. But, the Libra executives keep on assuring that customer data will be protected at all costs.

Who could use the Libra cryptocurrency?

After numerous surveys in different countries about Facebook’s Libra, we found out that the majority of users will not trust it as an individual provider. However, it’s likely that Libra adoption will happen through intermediary efforts, rather than direct influence over Facebook users. For example, several companies could have online shops present on Facebook, which is already a feature and only be able to sell these products via the Libra coin. This is the most likely outcome, but there are others as well. Let’s take a look at all the available options for Libra usage online.

Promotions and instant deposits

One of the primary roles of Facebook for a company is to spread awareness of their new product or a new feature that they’re offering. In most cases, this leads to consumers having to be redirected to their website if they want to make a purchase right then and there. However, with Libra coin, it could be possible to make such a payment without having to leave Facebook at all. And considering the fact that Facebook’s main goal is to keep the users online for as long as possible, this could be a very accurate prediction.

Several marketing managers have commented on this new addition saying that it may not impact the brand recognition as much as a redirect to the website, but it could increase sales, which is always the primary focus for companies. Samantha Cambridge, the manager of digital marketing of the Playamo AU blog has commented: “We as a company don’t really focus on the time that users spend on our platforms. All we focus on is the numbers, such as the amounts in deposits, withdrawals, in the amount played with and the amount lost. Therefore, having something like user-friendly payments directly from Facebook would be much more of a benefit to our platform rather than a detriment.

We’ve heard our users say numerous times that they always have difficulties to make deposits when they have to input their personal information over and over. Having a universal “digital wallet” from a platform they use on a daily basis is going to not only make the process easier for the users themselves but for us as a company as well. I understand why blogs would be against such a notion, simply because they rely on people staying on their website for as long as possible so that they can use that time spent as revenue from ads they place. I think it’s all about the product one offers.” But this is just one part of the global industries that can be affected. There are other comments as well.

E-commerce stores

The option to buy from a Facebook store has already been added to the website, however, it’s not as well performing as a redirect to the company’s website. Why? Because it’s the same process regardless of where the user makes the payment. It’s about choosing a credit/debit card and indicating the required details. However, according to several e-commerce store owners, having an effortless payment process directly from one’s Facebook account would impact company sales by a large margin. One of the most reasonable quotes to be found about this is the following:

“When doing e-commerce through Facebook, it’s absolutely essential that you’re either the first one to show up in somebody’s feed or you’re at least offering something different. Having something to stand out from the competition will determine the success of any e-commerce store owner, especially in a heavily populated area. Having the Libra coin attached to your payments could indeed be that differentiating factor between you and your competitors. If they don’t have that small extra feature that helps the user to save some time, it’s highly likely that you will be chosen as the supplier, just because you’re offering a user-friendly gateway.”

With e-commerce, it all boils down to convenience and the speed at which the users can make the payments. But this still doesn’t redeem the issues that are currently present with the Libra Coin. Some experts are essentially calling it a digital currency rather than a cryptocurrency, which in the current financial world is a big deal.

Article Produced By
Zerocrypted

https://zerocrypted.com/who-could-be-the-biggest-libra-user-in-the-future/

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

China Zombie is a serious company with serious goals Says John McAfee

China Zombie is a serious company with serious goals – Says John McAfee

One of the Popular crypto influencer and libertarian U.S. Presidential John McAfee

seems to have stuck into another conflict with Zombie coin, and they are now demanding $100 million in compensation. A Chinese venture that allegedly awarded John McAfee a sum of $4.5 million in order to successfully promote an Initial License Offering (ILO) linked to the zombie token now wish to sue John. The South China Zombie Research Center believe that the revered crypto-enthusiast violated the terms of the original deal.

On September 6th, The South China Zombie Research Center threatened McAfee to sue the influencer for $100 million. According to the platform, John has violated the terms which he initially agreed. The firm claims that McAfee has disparaged them in the white paper which he has partially written and published. The SCZRC claims that McAfee has not delivered on his obligations. Consequently, he has been accused of endangering the human race as the world is now presumably less prepared for a Zombie invasion.

John McAfee’s Response to Zombie coin

Further, responding to the tweet, john said that the allegations by the zombie coin project were simply a misunderstanding. It was caused by his client’s failure to grasp the ‘nuanced humor’ contained in the white paper he wrote. He further added that the zombie coin idea could only have been conceived by a “mentally deficient four years old”. Meanwhile, According to the reports of CCN on Sep 6th, McAfee said that this is a huge misunderstanding. He insists that he’s not trivializing China Zombie’s research. During the discussion, McAfee told CCN that it is a serious company with serious goals. Moreover, he says he regrets “this misunderstanding and hopes this issue can be resolved.”

He also explained that he was just making fun of the SEC’s ludicrous involvement in cryptocurrencies by writing the only Disclaimer Section that could possibly meet their requirements. McAfee claims that he never meant to disparage China Zombie. In fact, he praised them for doing profound research into chemically-induced Zombieism. Additionally, McAfee claims their research has “uncovered bad actors in multiple countries who are attempting to use advanced research chemicals to potentially destabilize entire cultures.”

Article Produced By
Nidhi Kolhapur

Nidhi is a passionate crypto Journalist covering the world of alternative currencies. She shares the latest and trending news on Cryptocurrency and Blockchain.

https://coinpedia.org/news/china-zombie-is-a-serious-company-with-serious-goals-says-john-mcafee/

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

Manny Pacquiao Releases His Own Cryptocurrency

The boxing prodigy from Philippine, Manny Pacquiao has announced the launch of his own cryptocurrency doing a concert in Manila city. The concert gathering had more than 2,000 fans to pimp up the fad for the new cryptocurrency. Sunday’s concert marked the unification of music with the virtual currency as Pacquiao recited songs from his hit album and abruptly announced the launch of his cryptocurrency right before the show came to an end.

“Pacquiao is idolized by many. People will be encouraged to check this innovation,” said Aaron Baetiong, a person who attended the concert, spoke about the “Pac” tokens.

In July, 40-year-old defeated Keith Thurman winning the Welterweight Super Championship of WBA. The man also boasts of being a Philippine senator, and endeavors earn through his brand new “Pac” tokens that let its users buy the merchandise as well as interact the celebrity through social media.

The token is also reported to be listed on GCOX, the Global Crypto Offering Exchange (GCOX) of Singapore with Pacquiao along with the ex-Liverpool & England soccer champion Michael Owen to be deemed as the private investors. They will also be accompanied by a person from the family of Abu Dhabi’s ruler, Sheikh Khaled bin Zayed al-Nahyan. Hence the stardom of the token is not just known to the world but also been back up by robust and powerful candidates.

This new token is right now acknowledged as the Pac token. Although, this token is reported to be listed on GCOX. Coming from a household name, the token will be a good acquaintance to global celebrities too.

Even the main website for the proprietary launch mentions that the champion’s status and fame will be promptly used to promote the adoption of the new tokens. Here are the exact words:

“PAC Token (PAC) rides on the advantage of blockchain by transforming the popularity and brand of Manny Pacquiao into crypto tokens, which are quantifiable and exchangeable. Millions of fans will now be able to get closer to their idol Manny Pacquiao by having access to his bespoke fan-celebrity programs powered by GCOX.”

BY SARA GILLARD

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

Elliptic A Crypto Forensic Startup Raises 23 Million USD

Elliptic, A Crypto Forensic Startup, Raises $23 Million USD

Elliptic, a British startup firm aimed at tracing suspicious crypto activity,

has raised $23 million USD in a funding round led by SBI Holdings.

Elliptic to Expand into Asian Markets

The Series B funding round was led by Japanese financial institution SBI Holdings and will enable Elliptic to continue expansion into Asian markets where it has recently opened an office in Singapore and will open another in Japan this week. Elliptic CEO and founder James Smith cited Asia as a highly attractive market for the company due to its prominent crypto community and the fact that Asian regulators tend to be more technologically advanced than elsewhere in the world.“The Monetary Authority of Singapore and the Japanese Financial Services Agency are very well-versed in crypto. Japan has its own licensing scheme for exchanges; I think all that is really key to the growth of crypto because once you set the ground rules, then businesses can engage and innovate,” Smith told CoinDesk.

SBI to Incorporate Elliptic’s Technology into VC Trade

Elliptic has developed artificial intelligence and machine learning technologies that are capable of tracing and locating suspicious transactions on blockchains. The company was founded in 2013 in London and had previously raised $12 million USD in five funding rounds. SBI was keen to get involved with the company as it has a number of crypto assets under its portfolio, including an exchange called VC Trade, which will incorporate Elliptic’s technology.

Elliptic is also looking beyond expansion into Asia with this investment, as it also has plans to develop a monitoring service for Facebook’s under-fire Libra network. Libra has received heavy criticism and scrutiny from regulators who question how they are meant to trust Facebook given the social media giant’s recent history of data misuse. Elliptic hopes to give somewhat of a helping hand to Libra by providing added transparency and security to the network.

Article Produced By
Caileam Raleigh

Caileam Raleigh is a financial content writer from Dundalk, Ireland who is currently working in Vancouver. Having graduated with a BA in Journalism with French from the Technological University of Dublin in 2019, he is currently a full-time contributor for PotStockNews, MicroSmallCap, CryptoCurrencyNews, and StreetSignals. Caileam cites music and football as his two great passions in life and is a fan of Liverpool FC, his beloved hometown Dundalk FC, and the sounds of Mr David Bowie.

https://cryptocurrencynews.com/elliptic-funding-round/

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

Walmart Deploys Blockchain Technology: Things You Need to Know

Over the past few years, blockchain technology has become synonymous with cryptocurrencies,

but it is important to note that the technology in itself has a wide variety of uses. Plenty of companies that have nothing to do with cryptocurrencies are now exploring ways in which to incorporate blockchain technology into operations. Walmart is one of those companies.

Important Update

In a new development, it has emerged that retail behemoth Walmart (NYSE:WMT) is now deploying blockchain technology in order to improve the system for food traceability. The whole system is based on proof of concept, and the company has tested the whole system twice.The testing has been on done on two separate projects. The whole point of the use of such a system is to trace the origin of the food products that are being sold at Walmart. Considering the sheer size of Walmart’s operations, the use of such a system could prove to be a huge boost for the company. The first project was engaged in tracing the origins of all the variants of mangoes that were being sold in Walmart stores in the United States. The other one was to trace the source of pork that the company brings in from a range of Chinese outlets. Since the whole project is about food, traceability is a hugely important factor for the safety of the consumers.

However, the company has now expanded the whole project significantly and the system, known as Walmart’s Hyperledger Fabric, run on blockchain, can now trace as many as 25 different products. Moreover, the system can trace it from as many as five different suppliers. Walmart had been trying to install a traceability system for years, but it had not been able to do so, and now it seems that blockchain technology has come to the company’s rescue. The company is now going to incorporate all of its vegetable suppliers into the new system.

Article Produced By
Ankit Singhania

Based in India, Ankit is a financial content writer and stock market analyst. He has worked for almost a decade on several financial projects related to the stock market news, fundamental research and technical analysis for several websites. He obtained his Masters Degree In finance (MS – finance) from ICFAI. Currently, he serves as a financial consultant and technical analyst at Tradersinsights.com.

https://cryptocurrencynews.com/walmart-deploys-blockchain-technology/

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

OKEx Reached Partnership with BitBns as the First Step into India Crypto Market

OKEx, the world-leading digital asset exchange,

established itself as a reliable and stability focused entity is pleased to announce a strategic partnership with BitBns, India’s leading exchange to bring the global brand experience of secureness and reliability to Indian crypto traders. This strategic partnership with BitBns marked the entry of OKEx into Indian crypto ecosystem, which not only enhances OKEx’s position in the Indian crypto industry but also restores the lost faith in Indian crypto community by maximizing the crypto trading experience and resources.

Being the world’s leading digital asset exchange, the Malta-based crypto exchange OKEx already caters to over 20 million users from over 100 countries with business centers scattered across the world, including Hong Kong, Tokyo, San Francisco, Luxembourg, and Seoul. OKEx provides a safe, reliable, and stable environment for digital asset trading globally, providing comprehensive digital assets trading services including Fiat-to-Token Trading (OTC), Spot Trading, Margin Trading, Futures Trading, Perpetual Swap (1x-100x), with the aim to enrich the investment choice of users. Currently, the exchange offers over 400 token and futures trading pairs, enabling users to optimize their strategies, as well as 24/7 local customer service to provide

a perfect experience for traders.

“This announcement with India’s largest exchange, BitBns is the first solid step in our journey to build on our vision to serve Indian crypto community,” according to OKEx official. “OKEx has been very dedicated to supporting blockchain development around the globe and we respect regulation in all the countries. To cultivate the blockchain ecosystem, we are always happy and open to share our experience and insight with the local regulator in order to prompt the regulatory environment.”

OKEx upholds the openness and win-win strategy to accelerate globally business layout and achieve the widespread adoption of Blockchain technology. Towards this end, OKEx is establishing a local team & executing localized operations by partnering up with authoritative crypto entities, including prime projects, crypto exchanges, and tech startups in developing underlying technology.

In the future, the company will fully open up to accumulate the resources in India, as well as share ecological dividends and user traffic. OKEx will work with high-quality blockchain projects to integrate Indian market resources and help local exchange with global liquidity to accelerate and extend their capabilities, with the aim to promote positive development for blockchain industry by building a mutually beneficial ecosystem.

Article Produced By
Ishan Garg

Ishan is a cryptocurrency trader and a journalist. He is the founder of Blockmanity. He trades cryptocurrencies and holds some but he prefers holding USDT.

https://blockmanity.com/news/okex-reached-partnership-with-bitbns-as-the-first-step-into-india-crypto-market/

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

What does it take to be an entrepreneur?

What does it really take to be an Entrepreneur?

I think that most people do not fit into the category of Entrepreneur because of their mindset. A typical person with a typical job is not looking for anything different from what they currently have, so they certainly do not fit into the category of entrepreneur.

If you think along most or even any of the following lines, you may have what it takes to be an entrepreneur.

1) I am looking for something more than what I am doing every day.

2) I am looking for something different than I am currently doing.

3) I would like a new challenge that is more than what I am currently doing.

4) I would like more control over my work life than I currently have.

5) I don't mind working harder than I am currently working, but I would like more freedom to work according to my own schedule.

6) I would like to become more of an owner than I currently am.

7) I would like to profit directly from my efforts instead of sharing my efforts with others in a higher position than myself.

8) I am kind of tired of being just an employee.

9) I don't really see many opportunities for growth in my current job.

10) I want to build something that I could sell for a profit or pass on to a family member when I retire.

If any of these types of thoughts have passed through your mind, you may be someone who would like to become an entrepreneur.

Do I have the skills to become an entrepreneur? If you think you have or are capable of developing these kinds of skills you may have what it takes to succeed as an entrepreneur. Don't worry if you think you may not have all these skills right now. Some of them are acquired skills that entrepreneurs discover along the way.

1. Ability to solve problems by using critical thinking.

2. I can lead when necessary and delegate when it is appropriate to do so.

3. I can think creatively when necessary.

4. I have the ability to manage people or groups of people.

5. I can coordinate with people within as well as outside my company.

6. I can manage my own emotions and help others to control theirs when necessary.

7. I can exercise good judgment and make good decisions on both a short term and long term basis.

8. I realize that in order to succeed, I will have to put the needs of customers first, and set up mechanisms within my company to make sure that this culture is instilled in all employees.

9. I am able to negotiate. This means I have to be willing to compromise when necessary.

10. In dealing with critical issues, I will be able to show flexibility and show empathy within and without my company, rather than insist on my way or the highway every time.

If you can see yourself in the top or bottom ten points listed here, then entrepreneurship may be for you.

Best of success in all your endeavors.

John Lombaerde

https://markethive.com/jonlomb/page/standard

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

US Banking and Remittance Firm PNC Now Utilises RippleNet

US Banking and Remittance Firm— PNC, Now Utilises RippleNet

According to a recent report, a leading financial institution PNC

has become the first bank to provide international remittances service in the United States using RippleNet after it remitted $4.3 billion as revenue in the first quarter of 2019, and had $385.9 billion in average assets. The bank now uses Ripple’s chain of banks and financial institutions which is referred to as RippleNet to transfer funds overseas.

The released publication stated that:

“As the first US bank to process these payments in real-time, PNC offers commercial clients in the US with the ability to receive a payment from an overseas buyer against their invoices instantly, transforming the way they manage their global account receivables and allowing them to better manage their working capital.”

The partnership between PNC and Ripple was firstly revealed in September of 2018 during which PNC stated that:

“As the global economy becomes increasingly digital, the need for real-time payments globally is critical. We are focused on providing our clients with capabilities that enable making secure digital payments in an instant, whether they are sent across the street or across the world.”

With the new partnership, PNC’s commercial clients will be able to receive real-time invoice payments from their buyers who are not based in the United States.

The Senior Vice President of Customer Service at Ripple, Marcus Treacher said that:

“For far too long, the technology underlying cross-border payments has been opaque, slow and costly. PNC, as an innovative and forward-thinking institution, understands the promise of emerging technologies like blockchain,” “Quite a few payment providers have joined RippleNet recently, so it’s great to see one of the major U.S. banks come on board as well,” he added.

Also, PNC is probably utilising Ripple’s payment messaging system xCurrent to carry out cross-border transactions because xRapid is still encountering some regulatory issues in the United States.

Article Produced By
Joshua T.

Olanrewaju Joshua is a Freelance writer, who loves to write about anything related to technology. His interest in Cryptocurrency started in 2015, and it has not stopped since.

https://coindoo.com/us-banking-and-remittance-firm-pnc-now-utilises-ripplenet/

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