Opinion

Dogecoin co-creator Jackson Palmer has labeled the cryptocurrency industry a right-wing, hyper-capitalistic technology. Palmer dropped the bombshell on social media in a lengthy Twitter post. He said that he would never return to cryptocurrency, a powerful cartel of wealthy figures. He added that crypto is created fundamentally to amplify the wealth of the rich by extracting money from the financially desperate and naïve. Palmer is not usually active on social media. As a matter of fact, in 2019, he had…

Government and monetary bodies in China continue to oppose the existing cryptocurrencies in the market, dismissing them as any form of legal tender. The crypto restrictions came into the spotlight in 2013 when China's Central Bank blocked financial institutions from conducting any Bitcoin transactions.  Trading platforms, exchanges, and ICOs followed suit as China prohibited any conversion and fundraising activities in 2017. According to the Chinese regulators, ICOs and crypto transactions are closely related to frequent fraudulent activities. As a result,…

Even though cryptos are becoming commonplace in transactions and international fund transfers, they're still regarded by many as a geek's plaything. Their fairly young age doesn't help the situation, having first been implemented in 2009 with the launch of Bitcoin. Nonetheless, blockchain technology is gaining traction fast, with the level of growth differing by country. Several factors, such as government policies and efficiency levels of traditional financial systems, play a key role in this divergence. Below are the top 5…

Get the weekly summary of cryptocurrency market trends, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $1,304 trillion. Bitcoin is down by more than 6% but still trades above $30,000 Ethereum has decreased by over 7% over the past seven days to trade below $2,000. XRP records a 6% value loss over the week. Dogecoin, Polkadot, and Cardano have registered significant value drops in the past week. The DeFi sector…

We have all seen the unimaginable get unlocked by blockchain technology. I mean, from the overnight millionaires of crypto trading to virtual assets, NFTs, selling for millions of shillings on auctions. Blockchain technology finds use cases in almost all industries and always makes remarkable impacts. At first, the focus was on the financial sector, but it's now evident that the world's future is blockchain. So today, let's see what blockchain technology has for development economics. Understanding Development Economics Economics is…

Many folks see bitcoin as a robust defensive asset akin to gold, which can protect them from the many shortcomings of the legacy financial system. The world's first cryptocurrency has held up better than most traditional investment instruments during the ongoing Covid-19 induced economic meltdown.  The world is slowly shifting from traditional financing to a P2P payments model and decentralized finance. In this article, we look at how its anonymous creator engineered bitcoin to be a haven from the many…

The Government of Nayib Bukele plans to create a national cryptocurrency currently referenced as the Colon dollar. According to El Faro newspaper, which cites videos of private meetings between cryptocurrency investors, officials, and two of the president's brothers, the currency would be tied to the value of a fiat currency like the dollar. The development, which is targeted soon, would restore an essential element of monetary policy that the country lost when it adopted the U.S. Dollar in 2001: issuing…

Following the eruption of Covid-19 that caused a global standstill, modern healthcare systems are finding a challenge in dealing with abrupt health emergencies. As a result, the deadly virus continues to strike numerous regions, with data recording cases surpassing the 180 million mark.  The global economy is also crippling due to the coronavirus pandemic, forcing governments to look for advanced mechanisms to boost a nation's development efforts. Such solutions include cryptocurrencies which represent digital versions of money.  Another additional solution…

According to reports from PwC, over 85% of central banks are either investigating or on pilot programs for digital versions of fiat currencies. The digital versions are now gaining traction as Central Bank Digital Currencies (CBDC), with China taking the lead with the e-yuan. However, while many countries seem ambitious about this version of virtual currencies, it doesn't mean they embrace cryptocurrencies. CBDCs are not cryptocurrencies, and some governments developing them have even banned cryptocurrencies. China is one of the…