BTC Prices Could Rebound Thanks to New Miners

Maria Rodríguez
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BTC Prices Could Rebound Thanks to New Miners

The increase of the mining community, the favorable regulations, and the disagreements in the use of fiat money give to cryptocurrencies the opportunity to raise their prices

By the end of 2018, Bitcoin experienced a strong drop that alerted some users, but it managed to recover from this decline during the first quarter of 2019. After falling to less than USD 6,000 last November, the price of the most popular cryptocurrency achieved this year USD 8,040 in Bitfinex, one of the largest digital exchange platforms based in Taiwan.

To date, cryptocurrency markets are traded laterally and most of the 20 principal assets by capitalization are listed at a loss, according to data from CoinMarketCap. But this scenario could change.

At the close of this edition, Bitcoin (BTC) quoted at USD 7,878, with a drop of 0.82% in the last 24 hours. Ether (ETH), the second cryptocurrency most marketed, fell 0.85% during the day and was quoted at USD 242.97. In the last seven days, this altcoin has fallen around 0.38%. Ripple (XRP), the third cryptocurrency in market capitalization, fell 1.44% in only one day, and 3.15% in the last seven days.

Due to these movements, it is inevitable to remember what some analysts said at the end of 2018. Some of them predicted that Bitcoin would be quoted at USD 36,000 by the end of 2019, whilst others believe that the trend will continue to fall.

The security company Kaspersky Lab considers that there is a direct relationship between the price of cryptocurrencies and the interest of users, who would be interested in investing or not in these assets after seeing their prices. The company ensures that, once the audience interested in cryptocurrencies reaches its limit, “the price will not go higher”.

Why is the Price of Bitcoin Increasing?

During 2018, Bitcoin and other cryptocurrency prices were expected to return to the levels they reached at the end of 2017 when BTC reached almost USD 20,000. However, some analysts explain that the fall in prices is normal and that the price of digital assets will recover this year to rise further in 2020.

In May 2018, analyst Thomas H. Lee, Head of Research at Fundstrat Global Advisors, predicted that Bitcoin would reach USD 36,000 by the end of 2019. His considerations are not made randomly. The expert is based on the probable growth of the mining infrastructure in the course of this year, a fact that, according to Coinshares, seems to materialize. As recently announced by this research company, 74% of mining activities are being conducted with renewable energies and this would lead to an increase in activity.

The “trade war” between the United States and China could also shoot up BTC prices, according to analyst Oliver Isaacs, who believes that cryptoactives will reach USD 25,000 by the end of 2019. “There are multiple factors behind the recent resurgence. There are geopolitical, technological and regulatory factors. The effect of the trade war between the United States and China has led to a sudden interest in Bitcoin as a way for investments”, he said.

In the But one of the most accurate opinions is the one of Mike Novogratz, Founder, and CEO of cryptocurrency merchant bank Galaxy Digital, who said that by the second quarter of 2019 there would be another Bitcoin rally that could break the USD 10,000 barrier.

For Novogratz, the increase would be driven by institutional investors, because the institutions would present FOMO (Fear of Missing Out or fear of being left out of technological advances).

Example of this is the Square payment company, which earlier this week began to allow certain customers to buy and sell Bitcoin. In addition, Nasdaq, the second largest stock exchange in the world, revealed its plans to launch an institutional-level crypto-price product.

Building a New “Floor”

The stability of the market (which presents falls, but also rises) could mean a new floor in the quotations of Bitcoin and the rest of the cryptocurrencies. Most analysts agree that cryptocurrencies and blockchain technology are already part of reality and their influence on finance is inevitable.

According to the Professor of Monetary and Financial Economics at the Complutense University of Madrid, Pedro Durá, the price would depend on the expectations on the use of this asset, the positive regulation in different countries, the behavior of traditional currencies, and the evolution of other cryptocurrencies.

The use of renewable energy to mine would be the surprise element that would encourage the growth of the mining community and, probably, the stability of prices worldwide. The result would depend on the combination of these factors.

The road continues changing. The next six months of the year would be decisive to know a little better how would be the behavior of these digital assets in 2020 and in the near future.

By María Rodríguez

Binance and other Exchange Companies Find Spaces in African Countries to Provide Help

Maria Rodríguez
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Binance and other Exchange Companies Find Spaces in African Countries to Provide Help

The precarious commercial activity and the facilities offered by the cryptographic market has helped more and more people from African countries to get involved with cryptocurrencies

For some years, large cryptocurrency companies have found in some African countries the advantages and freedoms that they have not received in more developed countries.

This is the reason why exchange companies such as Binance have the task of expanding its crypto-market in countries like Uganda, also serving as support forNon-Governmental Organization (NGOs) that seek to help the most vulnerable sectors of these poor countries.

Whilst companies dedicated to providing blockchain and cryptocurrency solutions have had a very selective acceptance in some more developed countries, it is clear that they have not being welcomed with open arms. Many times these new technologies are not advanced enough to provide users with a perfect control of the cryptoactives and they are still vulnerable to certain levels of scams or theft caused by cyber attacks.

Despite this, in some African countries the “boom” has been greater due to high levels of poverty, low industrial production, corruption, among other issues. Cryptocurrencies make it easier for some merchants in these countries to have a higher level of access to foreign products, as well as to produce assets that they can then exchange for fiduciary money or for goods and services.

It is for this reason that companies such as Binance have successfully settled in these countries where a banking system that can perform some type of prohibition or regulation is not well established, which in turn increases the income of commercial mobility within the territory, increasing the welfare of the citizens and establishing a viable option to develop commercially.

Thanks to some advantages such as not needing a bank to operate, many people from these African countries have been increasingly involved in the cryptographic world, which allows increasing the number of cryptoexchange companies in the continent.

Binance Signs an Agreement to Improve Uganda Educational System

Crypto-companies such as Binance have not only strengthened the commercial market with crypto-technology, but also they support and finance campaigns that help these countries cope with commercial and social failures.

It is for this reason that recently, the Binance Charity Foundation (BCF), the charity organization of the Binance Company, has signed a Memorandum of Understanding with the NGO of Uganda Safe Future, in order to improve the educational system of that African country.

The Binance for Children Special Impact Education Project Uganda has as main mission to provide to some schools supplies that can help students and teachers to continue their work.

Among the supplies that have been donated to each school is an ecological energy system with solar panels, LED TVs, school supplies, as well as food to activate dining rooms to provide breakfast and lunch to their students.

Mula Anthony, Safe Future’s CEO, told the local press that the project is already under development and that it will benefit more than 160 educational centers, with more than 100,000 students from all over the country.

It is known that this project is just an extension of another project already established by BCF, which is called “Lunch for children” in Uganda. Since the beginning of this year the program would have provided food to students throughout Kampala.

It does not stop. It is estimated that the project will be constantly maintained over the next few years and that the number of the students benefited will be more than one million throughout Africa in countries such as Uganda, Kenya, Ethiopia and Rwanda.

By María Rodríguez

Blockchain and its potential as a recycling technology

Maria Rodríguez
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Blockchain and its potential as a recycling technology

In Spain, an environmental project seeks to use Distributed Ledger Technology to identify the characteristics of different residues and its geolocation

The benefits that blockchain offers are diverse, but, maybe, the most useful currently are its ability to store information without alterations and its ability to track an item in the production and distribution chains to its final destination.

Now, thanks to blockchain technology, it would be known not only who participated in the mobilization of a certain product, but also where that product will end up as rubbish. This would even allow knowing if it is stored in the correct recycling cubicle (glass, plastic, metal) or not.

In Spain, the companies SigneBlock, spin off of the Signe Group specialized in blockchain, and Heura, a company dedicated to environmental advice and management, decided to join together to work on a proposal that helps to rescue the environment through solutions that would identify and locate the waste.

The agreement is a mutual work to use blockchain technology in waste management with the aim to optimize processes. The project would be a pioneer in Spain at a technological and environmental level.

“The objective of this collaboration is to promote the progressive development of a circular economy that contributes to achieving the objectives Europe and The United Nations have set in this regard for the period 2020-2030. There are demands for changes in production models aimed to improve the protection of the environment”, a statement released in local media says.

It could “tokenize” and reward factories

One of the benefits of using blockchain technology will be the traceability and transparency it offers to help know exactly the entire process a rubbish passes. This would make it possible to ensure that the waste complies with international regulations and would facilitate traceability for all parties involved in the process.

Thanks to blockchain, it would be possible to identify the characteristics of the waste and determine its geolocation, a fact that would allow an unalterable and efficient monitoring of all agents involved in the processing of products, like manufacturers, packers, or distributors, who are involved in the initial phase, which is the generation of waste.

Marta Gutiérrez, SigneBlock’s CEO, said that today it is important to take advantage of new technologies and take blockchain to the waste disposal sector, with the aim of achieving a circular economy with a mechanism that is not destructive. “This is a reuse of the process to help combat climate change”, the businesswoman said.

According to Gutiérrez, currently it is necessary to create a sustainable production system. In processes such as the blockchain technology one, the information linked to the waste is managed in all stages of the supply chain in a verifiable way. In addition, all participants are allowed to know the process that each waste follows.

Tools like blockchain allow even to “tokenize” or reward with a good reputation the factories that comply with environmental regulations, a fact that will motivate more and more companies.

The representatives of these companies consider that the use of blockchain in environmental management will provide a security that no other technology can offer; this includes optimizing processes and monitoring compliance with current regulations by each responsible entity.

In current times, it is vital that international regulations and protocols approved in the next environmental agreements are respected. Each step could make the difference in walking towards a more environmentally responsible world or following the current course of deforestation, melting of glaciersand disappearance of animal species. The change will also depend on the conscience and order that humanity finally imposes.

By María Rodríguez

“Coinbase Cards” Will now Be Available in Six Additional European Countries

Andres Chavez
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“Coinbase Cards” Will now Be Available in Six Additional European Countries

For cryptocurrency exchanges, it is vital to be able to expand their services and put more products and offerings in the highest number of markets possible. Coinbase, one of the top trading platforms in the planet, is by no means an exception to the rule.

The famous company has already expanded one of its brand-new offerings, the Visa debit card service, to six European locations.  The payment instrument will let investors and users spend their digital assets, according to a report from news network CNBC in recent hours.

The Six Nations

The news release explains that the six European countries that will have the service available will be Spain, Germany, France, Italy, Ireland, and the Netherlands now. The offering goes by the name of Coinbase Card and is associated with the prominent payment processor firm.

Among the cryptocurrencies that will be available for spending via the Coinbase Card are bitcoin, litecoin, and ethereum. As for the places and platform in which the card can be used, there are online stores and physical businesses that take Visa as a payment method.

Coinbase has been working on the crypto Visa debit card from April, but the services were available for users in the United Kingdom at the time. Now, it has moved to six major European markets, with the potential of reaching new horizons in the not so distant future. “We will be looking at all of our key markets including the U.S.,” were the words of Zeeshan Feroz, who is currently Coinbase UK’s CEO.

An “Extremely Strong Take-Up”

Feroz said to CNBC that the project has experienced an “extremely strong take-up” and that the company “blew past” the 1,000 cards issued to the clientele at no cost, although the exact number of people that has signed up for the service has not been disclosed at the time of writing this article.

The Coinbase Cards, an amazing concept that combines the best of cryptocurrencies and the comfort of paying for goods and products in a physical establishment, are linked to a mobile application in Android and iOS devices: the card syncs directly with Coinbase accounts. The users are able to pick the crypto asset they will use to fund each spending.

However, as per the product’s modus operandi, the client will not be paying for goods with crypto assets, at least not directly. Coinbase will charge a small fee to help the person convert the crypto to fiat currency as needed.

Uses and Applications

To bring the technology to the physical platform, Coinbase partners with British payment processor PaySafe, which is the company tasked with issuing the cards and making them available to users in the specified locations.

“You can buy groceries on bitcoin and then coffee on litecoin right after,” Feroz stated whilst talking about the applications and uses of the card. Impressively, the cards can also be used to withdraw cash from ATMs.

The initiative is part of a renewed attempt from exchanges, start-ups, banks, tech firms, and financial services providers to make payments in cryptocurrencies more accessible for people.

By Andres Chavez

Crypto-Gifts for Father’s Day You Can Buy with Cryptocurrencies

Maria Rodríguez
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Crypto-Gifts for Father’s Day You Can Buy with Cryptocurrencies

Having digital assets makes possible to buy in sites such as Overstock, OpenBazaar and Amazon, as well as give away Gift Cards or give away wallets to store digital coins

Father’s Day is coming and some enthusiastic users of cryptocurrencies want to know where to find the ideal gift they can buy with these popular digital assets. When performing the search, it is inevitable to be surprised with the amount of options that are available at the moment.

In The United States, as well as in many countries of Latin America and Europe, Father’s Day will be celebrated next Sunday, June 16th, so it is an excellent idea to think about which gift could be given to the men of the house, since, sometimes, it is easier to know what to give to women, instead of men.

Thinking on those fathers who are enthusiasts of cryptocurrencies and blockchain technology, as well as all those interested in using their digital currencies to buy products and services, there are different alternatives for each style.

Wallet for Cryptocurrencies

If giving a wallet is something traditional, and in many cases it is something very grateful, giving away a digital wallet is entering the new technological era and giving a gift as useful as the previous one.

If the householder is an enthusiast of digital currencies, an excellent idea would be to give him these devices designed for the storage of cryptocurrencies. Among the hundreds of options are Ledger NANO, Trezor or KeepKey wallets.

This hardware is one of the safest in the market today. The function of these digital wallets is to keep digital currencies safeguarded to avoid risks associated with hacking or other types of theft.

OpenBazaar

This is a P2P (peer-to-peer) platform that allows users to put items on sale and accept payments with different cryptocurrencies, among these cryptoactives are Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Dash (DASH), and many others.

At OpenBazaar, buyers and sellers come into direct contact when it comes to trading products and services, taking full advantage of the properties of blockchain technology, thanks to the easy and simple process that offers guarantees in the security of operations.

Overstock

Overstock is one of the main retail chains to trade products in dozens of countries around the world. This platform allows users to make payments with Bitcoin or Bitcoin Cash in a huge variety of products.

Overstock was one of the first platforms to accept this form of digital payments, and, since then, it has become a very popular site among Bitcoin or Bitcoin Cash users, who can use their assets as a legitimate means to acquire products and services in the physical and digital market.

Electronic equipment

For those fathers who love technology, the GSM Solutions and Fast Tech firms are the most suitable to buy electronic products, cell phones and spare parts for computers with bitcoins from their online store. The platforms offer cell phones of both Apple and Android brands.

Shopping on Amazon

Although there are many methods to buy items through Amazon using digital currencies, Moon’s team recently developed an extension for web browsers that allows payments with bitcoins through Lightning Network and within the platform.

The function of this extension is to connect Coinbase accounts with platforms from different websites to make it possible to trade items and services with cryptocurrencies.

Gift cards

And to finish this small group among the thousands of options, if it is not clear what to give, but you know in which commercial chain could be the ideal gift, an option that cryptocurrency users would appreciate is the purchase of gift cards through the website Gyft.com.

The service has available gift cards for some of the most popular stores such as Apple, Google, Nintendo and Xbox Live, for which users could make their payments with Bitcoin balances through the platform.

There are many options, but the most important is to share a quality of time with that man who takes care of the family and is a guide to his son or daughter.

By María Rodríguez

Video Game Company Ubisoft is Exploring Potential Blockchain Applications

Andres Chavez
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Video Game Company Ubisoft is Exploring Potential Blockchain Applications

The blockchain technology has attributes and traits that can fuel a whole industry’s turnaround. The gaming field is certainly not an exception, and what French company Ubisoft is eager to accomplish can change the way we view video games forever.

The famous enterprise of the video game industry is purportedly willing to experiment with potential blockchain applications in the field, and is already exploring the use of the technology to gain a competitive edge in a very competitive market. The development was first reported by the French financial publication Les Échos this week.

Putting Intra-game Virtual Items onto the Blockchain

According to the newspaper, Ubisoft has been exploring blockchain applications for weeks and even months, a development that has flown under the radar. More importantly, the French firm, allegedly, has already spotted one and is now planning to put intra-game virtual items and accessories onto the blockchain to make a profit.

Ubisoft’s idea is to do something similar to what Fortnite (a very famous video game, developed by Epic Games): the game itself is free of charge, but if the player wants to acquire virtual content as equipment for the game character, it will cost a specific fee, depending on the case.

The blockchain-centered approach will serve as a tool to preserve the gamers’ digital property rights, thanks to the immutable ledger’s traits. According to an official from the industry, cited by Les Échos, “when you buy a costume on Fortnite, your investment is lost, the accessory is locked in the game. If we use the blockchain, we give a physical existence to a digital element.”

Working With the Ethereum Blockchain

Les Échos also cited an anonymous source, allegedly close to Ubisoft’s experimentations with the blockchain technology, that said the company will strongly consider implementing the Ethereum blockchain for its project, and that everything is pretty advanced.

It is not yet clear whether Ubisoft will launch its blockchain-based gaming model within an already existing title or in a new franchise. According to an observation made by Les Échos, the latter would represent significantly lower risk than the former.

In Advance of Clearer Regulations

One thing is certain: as of now, there is no set timetable for the launch of the blockchain product, and the company is still “exploring” possibilities in advance of further clarification of France’s legal landscape regarding blockchain technology.

Being a publicly traded firm, per Les Échos, there is the possibility of the markets reacting unpredictably to the launch of an initiative with an innovative, yet relatively unfamiliar technology.

“This is the type of initiative that would increase the commitment of players,” per Charles-Louis Planade, who is currently the video game financial analyst at Midcap Partners.

The gaming industry has made significant advances when it comes to letting in the blockchain technology. For example, in the spring, Animoca Brands announced a partnership with Formula One to develop a game based on the world’s premier racing circuit. The same firm also joined forces with Atari earlier in the year.

By Andres Chavez

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