Day: July 14, 2020

DeFi Will be an Integral Part of the Lives of Many, CEO of Crypto Exchange OKEx

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Decentralized finance (DeFi) will be part of the lives of many people in the future, according to Jay Hao, the CEO of crypto exchange OKEx. When answering Cointelegraph’s recent inquiry concerning the listing of Compound (COMP) DeFi protocol’s token on OKEx, Hao predicted that the importance of decentralized finance will grow in the upcoming years. He said that he believes “that DeFi will disrupt traditional finance not far in the future” and explained: “We are very bullish on the future of DeFi and truly believe that its products will be…

PayPal Works on Development of Crypto Payment Capabilities

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From the letter sent to the European Commission it has become known that PayPal is working on crypto payment capabilities. PayPal Holdings Inc (NASDAQ: PYPL) has corroborated its crypto payment capabilities. The payments giant confirmed this in a letter to the European Union. The document was originally delivered in March this year. This letter was a response to the EU’s consultation process for the building of a framework for cryptocurrencies and digital assets. At the time of writing, PayPal (PYPL) stock price was down 0.30%, at $170.99. In the letter,…

Japanese Banking Giant to Issue Its Own Stablecoin in Late 2020

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Mitsubishi UFJ Financial Group, or MUFGt, the fifth largest bank in the world, is reportedly planning to issue its own digital currency in the second half of 2020. Initiated back in 2015, the digital currency project was originally designed to run on a blockchain network and facilitate instant peer-to-peer transactions. Following multiple delays, the initiative is now scheduled to be rolled out no later than 2020, Cointelegraph Japan reports on July 13. “We think that everyone will be able to use it openly” Hironori Kamezawa, president and CEO at MUFG,…

This Platform Automates DeFi Yield Farming for Its Users

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A new decentralized finance platform is set to ride the yield farming wave by automating the process of finding the most efficient opportunities for its users. The platform, Rari Capital, automatically moves user funds to the highest yield platform. At launch, Rari plays only with the yield differences between Compound and dYdX, constantly rebalancing between one and the other as their dynamic interest rates change.  Rari only supports yield on stablecoins, but an integration with 0x allows users to automatically sell their cryptocurrency when depositing on the platform. Once deposited,…

Chainlink (LINK) Breaches $8 Once Again: What Are Analysts Saying?

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Bulls are once again driving Chainlink (LINK) higher after a slight retracement on parabolic price action. As of the time of this article’s writing, the asset is up by around 15% in the past 24 hours, rallying past $8.00 once again. It now trades for $8.30 — just a few percentage points below the all-time high price in the vicinity of $8.50. Chart of LINK’s price action since the March capitulation from TradingView.com Chainlink Continues to Rip Higher, But What’s Next? Chainlink seems to be in a bullish place from…

Telegram Drops TON Testnet, but Independent Projects Carry New Hope

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At the start of July, Telegram announced it was discontinuing its support for the test network of Telegram Open Network in what seems as yet another — possibly the last — sign that the company is leaving its blockchain project for good. Telegram chose to abandon TON as a result of a drawn-out legal battle with the United States Securities and Exchange Commission, which apparently was close to convincing the court that TON’s private $1.7 billion initial public offering was an unregistered securities sale. So, does the latest development mean…

Stablecoins, CBDCs Will Boost the Usage of Bitcoin (BTC) & Crypto

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Quick take: Global Central Banks are embracing the idea of creating and using digital currencies.  At the same time, the usage of Stablecoins is increasing as many traders use them to transfer value in the crypto ecosystem. CBDCs and Stablecoins will most likely provide a gateway for new users to experience and invest in Bitcoin (BTC) and other digital assets.  There is a wave in the traditional financial space of global Central Banks exploring the use of Digital Currencies. At the time of writing this, some of the countries and…

What It’s Really Like to Live on Bitcoin in the Middle East

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Syrian developer Ghass Mo has been living off freelance bitcoin gigs from Kurdistan, Iraq, for nearly two years.  “I get paid in bitcoin for doing work on open-source projects related to the cryptocurrency industry,” Mo said. “The first programmer I met was Amir Taaki. … I learned a lot from him and he was supporting me.”   It’s impossible to say how many people are like Mo, inspired by a chance meeting with a bitcoiner to embark on an educational journey toward financial sovereignty. These cases are often isolated, at least…

From DeFi to Bitcoin Casinos, 2020’s dApps Are Going from Strength to Strength

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The latest Dapp Digest highlights an undeniable truth: the world of decentralized applications is growing fast. And it’s only set to intensify with the forthcoming launch of TRON 4.0, which will introduce cross-chain interoperability and customized blockchain-based apps for enterprise. dApps Break the $10B Volume Barrier dApps are becoming easier to build and simpler to use, with well over 1,600 active titles now available to a community of 100,000 daily users. Despite the economic downturn that has touched everything in 2020, DeFi apps had a combined volume of over $11…

Technology Giant VMware Leads Series C Financing Round of Digital Asset – Blockchain News, Opinion, TV and Jobs

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Cloud infrastructure and digital workspace technology giant VMware are leading a Series C financing round for open-source DAML smart contract language designers Digital Asset. A company with close to 25,000 staff $15 billion in assets, VMware joins technology leaders Salesforce Ventures and Samsung Venture Investment Corp (Samsung) as investors in Digital Asset and its growing ecosystem of DAML partners. VMware’s Brendon Howe, Vice President and General Manager, VMware Blockchain, also joined the company’s Board of Directors. Howe joined VMware in September 2019 and is responsible for leading their Blockchain business…