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Malaysian Finance Ministry: Cryptocurrency Adoption Remains Low

Malaysia’s finance ministry says domestic and global adoption rates of cryptocurrencies are low, notwithstanding the significant attention the disruptive sector has garnered. Malaysia’s finance ministry says both domestic and global adoption rates of cryptocurrencies are low, notwithstanding the significant attention the disruptive sector has garnered. In its Economic Outlook 2020 report released today, the ministry nonetheless noted that several prominent firms in key economic sectors had taken steps toward digital currency adoption, according to a business news report from Bernarama on Oct. 11. Malaysia’s crypto regulatory landscape to date“Although the impact of these projects has yet to be felt more widely, digital assets may well emerge as a part of the wider economy or recede into the background as a novelty, depending on the outcome of its usage,” the report is quoted as stating. The ministry has urged global authorities to formulate frameworks to tackle the issues raised by di..

Offline Transactions: The Final Frontier for Global Crypto Adoption

Though crypto transfers are immutable, offline cryptocurrency transactions may be the key to total censorship resistance for blockchain. Earlier in September, Cointelegraph reported that Israeli cybersecurity startup GK8 had raised $4 million to finance its offline cryptocurrency transaction solution. The company developed a cold wallet with “hot wallet functionalities” that is completely shielded from online hackers because it does not require an internet connection. Apart from creating additional security layers, offline transactions could, in theory, enable complete censorship resistance for cryptocurrencies. Being able to sign, send, validate, receive and record value transfers without the internet might also be the key to ensuring global cryptocurrency adoption. To this end, there are some startups working on mesh networks (commonly called meshnets). The idea is to create parallel decentralized networks upon which blockchains can truly be censorship-resistant. Achieving total ce..

Crypto in Cuba Faces Challenges Despite Growing Adoption, Overview

While ordinary Cubans are using crypto access the global marketplace, the sector faces a number of challenges. Following the roll-out of mobile internet across the country in 2018, many ordinary Cubans are increasingly using cryptocurrencies to bypass economic sanctions imposed by the United States and access the global marketplace. Despite growing adoption, cryptocurrencies still face a number of challenges in Cuba, including limited access to crypto exchanges, lack of a pertinent regulatory apparatus and the growing popularity of a gold-backed MLM stablecoin. 10,000 Cubans use cryptoOn Sept. 12, a report published by Reuters included excerpts from an interview with Jason Sanchez, a 35-year-old Cuban who describes virtual currencies as “opening new doors” for ordinary citizens. The Havana resident runs a cell phone repair shop and uses Bitcoin (BTC) to purchase hardware online from China. According to members of CubaCripto, a Telegram group boasting 600 members and considered to be a..

Blockchain Adoption as a Cure for Cross-Border Trading

Blockchain can contribute to trade cost savings by replacing the paper-heavy custom processes that slow down trade. In August of 2019, both the United States and Thailand announced their plans to test blockchain applications for tracking and managing shipments. The U.S. Customs and Border Protection (CBP) is planning to test a blockchain application against their current system to determine how distributed ledger technology (DLT) can improve its existing processes. Thailand, on the other hand, plans to use IBM’s blockchain-based logistics platform Tradelens to improve customs processes such as data sharing. Originally developed in a joint venture between IBM and logistics giant Maersk, Tradelens seeks to streamline processes in the global shipping industry by making the flow of information occur in real-time. The blockchain platform is reported to currently process about half of the world’s shipping data. These moves highlight countries’ increasing interest in employing blockchain tec..

Development ‘On the Chain’ to Promote Off-Chain Blockchain Adoption?

What does the next decade hold for blockchain? Institutional adoption, portfolio diversification, fundraising schemes and IoT. In the last decade, blockchain and distributed ledger technology has had an immense impact on a multitude of industries, with 84% of organizations experimenting with the technology, with more than half (52%) of blockchain projects in the research and development phase, according to the PwC Global Blockchain Survey. The industries making important strides forward with blockchain include financial services, manufacturing, energy and utilities, health care, as well as government sectors, but the potential of the technology is limitless. Ultimately, any business that is looking to simplify the processing method of large volumes of transactions while ensuring the verifiability of these transactions — stands to benefit from the use of blockchain technology. So, what does the next decade hold for blockchain, and what barriers are there to overcome in order to see t..

Blockchain Adoption Takes Off in Airlines, Aviation Industry

The Aviation Industry is setting a new playing field with blockchain adoption spreading through loyalty programs, baggage tracking, air supply and logistics. In an era in which catching a flight is easier than renting a car, and an estimated 40 million flights will occur this year alone, it is understandable that competition is fierce, and even the smallest advantage may be the difference between leading the industry and being forced into an unwanted merger. Last year, Cointelegraph discussed the potential benefits the blockchain industry can have for airlines. Fast-forward 12 months and the waves this technology is making not only for airlines but also air travel and the aviation industry as a whole can be clearly seen. We have gone from a period in time in which competitors see the potential into an era seeing blockchain applications being regularly announced around the world. In fact, executives from some of the largest airlines are publicly stating the priority of blockchain integ..

New Blockchain Partnership Aims to Pave the Way for Mass Adoption...

sponsored A blockchain platform and a gaming company note their partnership will benefit millions and pave the way for mainstream adoption in China. A blockchain platform and a mobile gaming company have unveiled a partnership designed to benefit hundreds of millions of users. High Performance Blockchain (HPB) has announced it is the first public chain to team up with gaming company Shanghai Youwan — paving the way for widespread adoption by the customers of some of China’s biggest brands. According to HPB, this integration means that its coins can be converted into in-game currency that can be used on an array of titles. Players will also have the freedom to make conversions into in-game credits compatible with all companies under the Ping An Group, such as Ping An Bank and Ping An Insurance. Compatibility will also be achieved with China Telecom, China Mobile, China Unicom and JD.com. Through the partnership, Shanghai Youwan’s mobile games will be connected with the HPB wallet, exp..

Official: Russia to Postpone Adoption of Bill on Digital Currencies

Russia’s parliament, the State Duma, may defer the adoption of the country’s major crypto bill “On Digital Financial Assets” until autumn. Russia’s parliament, the State Duma, may defer the adoption of the country’s major crypto bill “On Digital Financial Assets” (DFA) until the autumn session, local news outlet TASS reported on July 9. The Duma is considering shifting the adoption of the DFA bill to the autumn session, while the representatives have largely agreed on a bill on crowdfunding, according to the chairman of the State Duma Committee on Financial Markets, Anatoly Aksakov. Aksakov further explained that officials have not been able to reach a common position on the fate of digital currencies in Russia. "The law on the DFA is set to decide whether we will prohibit cryptocurrencies as a medium of exchange in Russian legislation, meaning that there will be no exchange points nor exchanges that work with cryptocurrencies. We have not yet reached consensus on the issue. We need t..

Cardano’s Charles Hoskinson Talks About Global Adoption Of Cryptocurrencies, Bitcoin Maximalism...

Cardano News Today – Founding leaders in the cryptocurrency space often have a strong interest in the promotion of blockchain technology and cryptocurrencies as a whole and not just on promoting the major tokens of interest. The founder of Cardano, Charles Hoskinson, is one of the major contributors to the cryptocurrency and blockchain space who is always willing to offer his opinion about everything and not just cryptocurrencies. Recently, during an interview with Cryptoglobe, Hoskinson talked about Bitcoin maximalism, internet trolls and global adoption of cryptocurrencies. Cardano News Today – Cryptocurrency News Today – Cardano Talks About The Future Of Cryptocurrencies During the interview, he was asked about why he initially developed interest in cryptocurrencies. In reply, he said that he stumbled upon blockchain and cryptocurrencies many years ago and he developed an interest in the technology because he came to saw that it was more than just a philosophy and was something tha..

Weiss Ratings: Litecoin ‘Excellent’ in Adoption and Investment Returns

American provider of investment data Weiss Ratings has ranked Litecoin as “excellent” in regard to investment rewards and adoption. American provider of investment data Weiss Ratings has ranked Litecoin (LTC) as “excellent” in regards to investment rewards and adoption Digital currency ratings unit Weiss Crypto Ratings has classified the fourth largest cryptocurrency in terms of market capitalization LTC as “excellent” when it comes to investment rewards and adoption. At the same time, the agency ranked the altcoin’s investment risk factor as “fair,” which resulted in the B- rate in the risk to reward ratio. Litecoin — a cryptocurrency and an open-source project released in 2011 with the idea to make a faster and cheaper to use alternative to bitcoin (BTC) — started out at the modest $4.30 price mark and had been hovering around that point throughout several subsequent years until the crypto market surge in December 2017. Over the past year, LTC has remained somewhat volatile, dipping..
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