Cryptocurrency

A former central bank official stated on Sunday that tracking the payments of citizens was never China's motivation for developing a sovereign digital currency. China is dominating the world in developing a national digital currency, a project it has been working on since 2014. The People's Bank of China (PBOC) has been cutting edge on the digital yuan, a so-called central bank digital currency (CBDC) that targets to replace some cash in circulation. According to data from Singapore bank DBS,…

Not long ago, Elon Musk called out Bitcoin for its mining mechanisms to wreak havoc on the environment. His apparently innocent tweet dragged the entire crypto market back into bear territory after one of the most impressive bull runs in its history. Besides that, it also raised the question - can cryptocurrencies be eco-friendly? The answer came from the legendary Apple co-founder, Steve Wozniak, and his new project, Efforce. His vision is that of a “revolutionary platform aiming at increasing…

For the past two weeks, top headlines from the crypto space have been on the Chinese crackdown on cryptocurrencies and Bitcoin mining. The country has embraced the technology underpinning bitcoin and has ambitions to implement its digital yuan managed by its central bank. China is now attempting to push its cryptocurrency activities forward.  On the other hand, Beijing is trying to ban crypto mining since they require vast amounts of electricity, often from coal-fired power stations, while the country has…

Input-Output Hong Kong, one of the companies behind the Cardano blockchain, has unveiled its plan for the rollout of its new smart contract platform on May 27. Alonzo will be implemented in September 2021 as the next step in a series of upgrades to the blockchain. It is a hard fork that consists of a series of color-coded testnets. IOG has started the Alonzo Blue test, which will bring new features like smart contracts on the Cardano network and a…

If you are a true cryptocurrency enthusiast, I bet we both know that the industry can be pretty lucrative. However, that doesn't mean anyone can hop in, invest and make huge chunks of money. The returns are never guaranteed, and success isn't that easy. Seasoned traders use different trading strategies, including software, to help them choose the right coins and detect the correct entry and exit times. Nevertheless, everyone must start somewhere. It's so easy to get tempted to join…

Since the launch of cryptocurrency and blockchain technology, several advancements concerning finance have been introduced. The idea was to make transactions safer, more reliable, and more permanent using blockchain.  Initially, the technology was focused only on providing payment currencies like Bitcoin, Litecoin, and Bitcoin Cash. More recently, crypto has focused more on providing comprehensive financial-related services, including trading and banking.  One service that crypto has replicated from the traditional banking systems is savings. Crypto assets are excellent modern-day savings tools…

According to Governor Perry Warjiyo, Bank Indonesia aims to introduce a digital rupiah currency. The country’s Central Bank has not yet decided which platform to use to utilize the currency, but the debate is ongoing. Indonesia saw a rise in digital currency transactions from the onset of the global pandemic COVID-19. As more countries continue to adopt the Central Bank-issued digital currencies, Indonesia doesn’t want to lag. In a report released last year, the number of crypto users in the…

According to the Cardano Foundation, its network has finally achieved a critical milestone of 1 million ADA wallets. The escalation in the number of wallets on the Cardano network can be attributed to the recent upgrade that introduced smart contract functionality. ADA was among the best-performing cryptos before the market tanked last week. The cryptocurrency made successive highs as it spiked above $2.00 en-route to new highs of almost $2.40. ADA's price has risen more than 1,000 percent this year,…

The evolution of the blockchain world has been phenomenal, showing no signs of slowing down. An interesting testament to this is the Non-Fungible token. Also known as NFT, it merges decentralization and unique rarity forms to produce a one-of-a-kind token. On the other hand, art is an expression of human creativity and imagination whose value is purely based on viewer opinion rather than the value of inputs used.  It's rare to have any aspect of cutting-edge technology being heavily dedicated…