Uncategorized Archives - Page 40 of 135

MondayMar 06, 2023 9:00 am

VISA Reaffirms Commitment to Cryptocurrency Strategy

A Visa company spokesperson, speaking to Blockworks, has confirmed Visa’s affirmation that it will keep focusing on its master plan to be the go-between for both traditional finance and crypto. Visa intends to keep working on its crypto strategies despite rumors that depict the contrary. The company’s rival, Mastercard, has keen intent to keep its focus on a more neutral arena: blockchain. In an earlier Reuters report, it was claimed that both payment giants may halt cryptocurrency businesses following the sinking of some high-status companies within the industry. Visa has since absolved itself from such claims. Visa’s vice president and…

FridayMar 03, 2023 12:00 pm

How Various Industries Are Merging AI, Blockchain

Technological advances have birthed innovative solutions in a myriad of industries. Blockchain and artificial intelligence (AI) are the trailblazers of our time, with the potential to upscale how we go about our daily businesses, and when these two are merged, they have such a synergy to catalyze revolutionary solutions. Understanding AI and Blockchain synergy AI mainly deals with the creation of intelligent machines, which can perform duties that otherwise require the input of human intelligence. Blockchain is a decentralized ledger allowing secure and transparent transactions to take place. The amalgamation of these two technologies is a potential trendsetter for most…

WednesdayMar 01, 2023 12:00 pm

Bitcoin Slides as Crucial Inflation Indicator Spooks Markets

Bitcoin took a sudden nosedive last week, plunging the whole crypto market into the red. Seemingly, inflation has been the catalyst of this dip, astounding investors within this biosphere. The CoinGecko data indicates that Bitcoin is currently trading at $23,070, suffering a 3% dip, yet last week it broke ranks to trade over the $25,000 mark, a first in more than six months. Many other cryptocurrencies have also been hit so hard so that Ethereum lost 3.1% trading in a day as Dogecoin traded at $0.082, suffering a 3.3% drop in just under 24 hours. Typically, cryptocurrency follows the U.S.…

MondayFeb 27, 2023 9:00 am

Blockchain Association Says More Transparency Needed in US Crypto Regulation Formulation

While many entities have yet to recover from the FTX collapse, plenty of investors, well wishers and lawmakers who were supportive of the space are feeling somewhat betrayed by the implosion of FTX. “The U.S. Congress needs to make the legislation of crypto a transparent process, so that there is a critical look at the market as a whole,” says Kristin Smith, CEO of the Blockchain Association, a leading not-for-profit crypto organization. During a recent interview, Smith intimated that the crypto industry wants U.S. lawmakers to speed up crypto legislation as the process has been painstakingly slow, even with the…

FridayFeb 24, 2023 12:00 pm

How Blockchain Technology Is Influencing Online Casinos

Blockchain has been influential in various major industries worldwide. Online casinos have also had a major update in the face of blockchain infusion into the industry, leading to secure and fair gambling. Effect of blockchain on the online gambling dens Some of the ways in which online casinos have benefited from blockchain tech include the following: Safety and transparency Blockchain has boosted transparency, ensuring that gaming and the outcomes are fair. Blockchain has leveled the gaming arena by providing transparent and unchangeable recording of all play activities in a casino. Security has also been heightened in that transactions are encrypted…

TuesdayFeb 21, 2023 9:00 am

US Regulators, Lawmakers Want Tougher Action on Crypto Industry

It was a catastrophic event for the crypto fraternity when FTX folded in November. This was termed the Lehman moment, when a giant within the industry buckled, the damage spread, and reluctant regulators suddenly had an epiphany and went on a public rampage to improve their image. The crypto industry is now plunging into the twilight zone: the Dodd Frank era. (Frank is the 2010 legislation Congress passed supposedly fixing the lax oversight within the banking industry that sunk the financial world into the worst historical financial abyss ever.) As the market burst into a mega-dollar enterprise, proponents grappled with…

FridayFeb 17, 2023 9:00 am

Crypto Loudly Absent at This Year’s Super Bowl

The Super Bowl is one of the most viewed sporting events each year globally. Previously, crypto companies Coinbase and Crypto.com among others would scramble to get even a single spot and spare no dime for an opportunity to advertise at the Super Bowl. However, the usual eye-catching cryptocurrency trading podium adverts were conspicuously absent during the Super Bowl event this year. Last year, Larry David was unamusing in the several old school outfits he spotted in an FTX advert. Another ad had a crowd of people buzzing like bees in the air for eToro, and in yet another advertisement, a…

WednesdayFeb 15, 2023 10:30 am

China Announces Plans to Establish Blockchain Tech Research Center

The crypto biosphere is new on the horizon as China becomes a blockchain technology pioneer. While the United States fixates on taming the “rogue aspects of the crypto industry” within its borders, China has announced its intentions to launch its National Blockchain innovation hub in Beijing. China Daily reported that the Chinese authorities established the center to experiment as well as develop technological blockchain innovations while maintaining an embargo on crypto currencies. The Science & Technology ministry of the country approved the center, saying the center will liaise with think tanks, local universities and blockchain enterprises to create a network…

MondayFeb 13, 2023 9:00 am

Bank of Italy Preps for Blockchain Integration in National Economy

The European Union and the Bank of Italy have assembled a supervisory domain in a bid to merge distributed ledger technology (DLT) into the mainstream economy, said Ignazio Visco, the Italian central bank governor. Visco said this at the 29th Assiom Forex Congress, emphasizing the benefits offered by DLT, such an efficient financial system and crossborder transactions that are cheaper. “Bank of Italy has to identify areas that new distributed ledger technologies can be issued to increase the overall financial system stability as well as client protection,” said Visco. He noted that in November, the Central Bank called for proposals…

FridayFeb 10, 2023 11:15 am

Tax Planning Can Help Offset Losses for Crypto Traders

When filing taxes, reporting on cryptocurrencies can help investors offset their losses. The year 2022 was a hard one for the crypto fraternity. Recently, an Immunefi report found that in 2022 crypto investors lost $3.9 billion. Colossal losses such as these usually alarm investors, though a silver lining may be in the offing for those investors who report crypto as part of their tax returns. Lisa Greene-Lewis, a TurboTax accountant, said that while in 2021 crypto investors had huge gains, the tides changed in 2022. “TurboTax is willing to help investors bear their loss,” she said. Harvesting of tax loss…