Telefónica opens application for startups interested in adopting blockchain technology. The congestion on the Bitcoin network has gradually decreased since last May 23rd.
The price of Bitcoin started to recover in recent days. The main cryptocurrency in the market returned to ranges above USD 9,000 and its weekly average is 5.6%, according to data from Live Coin Watch. At the time of writing this article, BTC is trading at USD 9,642, according to the market price for Latin America and Spain.
Satoshi Tango recently launched the following call on its networks: “Don’t let the MEP dollar and the CCL dollar trap you: Switch to the digital dollar now.” In this way, it requests Argentines to dollarize their savings through anchored cryptocurrencies or stablecoins. In the specific case of this exchange, it refers to the stable currency DAI. In this way, the Argentine exchange challenges exchange rate controls with dollarization through this type of cryptocurrency.
The Central Bank of the Argentine Republic (BCRA) recently issued a resolution for all companies established in the country that have assets acquired abroad. In the statement, it forces companies to dispose of them to honor their international commitments, before going to the institution to request foreign currencies.
The telecommunications company, Telefónica, launched a new acceleration program that will allow Spanish businesses to have access to its blockchain, IoT (Internet of Things), and AI (Artificial Intelligence) proposals. In recent days, the multinational reported that startups from Germany and the United Kingdom will also be able to participate.
There was a decrease in the congestion that the Bitcoin network had experienced since shortly before the halving occurred. Starting on May 13th, the Bitcoin mempool became increasingly congested. However, in recent weeks, the congestion on the network began to decrease, recording 13,432 transactions to confirm for every 1 sat/vbyte.
In recent days, a person shared a report by JP Morgan, dated May 22nd, which included an analysis of the post-halving Bitcoin mining scenario. Analysts at the multinational financial institution found through their analysis of Bitcoin’s intrinsic value that the cryptocurrency is currently trading 25% below the intrinsic value that it had after the halving. The intrinsic price that JP Morgan found was derived from the average cost of mining a BTC.
The world’s most widely used streaming service now allows its users to pay subscriptions with Bitcoin and other cryptocurrencies. Users can use Ether (ETH), Litecoin (LTC), Dash (DASH), and Dogecoin (DOGE) to receive the service. Cryptocurrency gift card provider Bitrefill added a service that allows purchasing more than 750 different gift cards spread across more than 170 countries. They can use them on platforms such as Amazon, eBay, Play Store, App Store, and Netflix, among others.
In recent days, the architecture of Bitcoin as compared to that of central bank digital currencies (CBDCs). At that time, it was explained that, in the case of the main cryptocurrency, decentralization is not desirable. As for CDBCs, central banks and their trusted institutions are responsible for the security and verification of transactions.
By Alexander Salazar
