Blockchain 

Will the USD Hold Up as the Global Reserve Currency?

The USD is a global reserve currency. Therefore, while many currencies weaken during times of crisis, the US Dollar not only stays put but grows stronger. This has been happening over and over, so it’s expected that in the coronavirus recession, USD should behave the same way. And it does stand strong at the moment. However, the long-term forecast for this currency isn’t so bright. It’s quite possible that with the rise of digital payments in the pandemic, a crypto reserve currency is in our future. Is the USD Truly…

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Ethereum 

Ethereum Drops to $200 Levels as Crypto and Global Markets Crash

Ethereum (ETH) price has continued to fall after a dreadful weekend, which saw the price drop to around $198, wiping out last week’s gains. The cryptocurrency is currently trading slightly above the $200 support level and faces a nervy week in which it could drop as low as $170. Ethereum Drops to $200 as Crypto Markets Crash The coin has had a stellar year to date, having started the year at $130. It reached $280 in mid-February, outperforming even Bitcoin (BTC) in its percentage climb. However, there has been a…

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Blockchain 

BDeFi Invites Government Partnerships to Create a Singular and Global Stablecoin Platform with Integrated KYC

(November 30, 2019) – When it comes to onboarding new customers, whether by banks, financial institutions, or crypto exchanges, there is currently no one global KYC system or platform, leading to a very costly and chaotic situation. One venture, BDeFi, is working to revolutionize the global KYC system with a stablecoin-based blockchain platform. A recent global survey of crypto exchanges found that nearly 70% of these did not have a ‘complete and transparent’ KYC procedure, and only 26 percent could ensure high anti-AML procedures. The global KYC costs are around…

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Blockchain 

Bitcoin Breaks $12,000 Amid Global Recession Concerns

Bitcoin price broke $12,000 USD for the second time in three days on Wednesday as the notoriously volatile cryptocurrency develops a reputation among investors as a safe-haven currency amid concerns as the global economy heads towards recession. This takes BTC’s week-on-week gains to $2,000 USD. Following on from 2018’s cryptocurrency crash, BTC enjoyed six months of steady increases during the first half of 2019. However, in June the price of BTC nosedived yet again with nearly $4,000 USD being knocked from its value in under a week. After some wild…

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Blockchain 

Facebook Libra Faces Another Setback From Global Regulators

Ever since Facebook (NASDAQ:FB) announced that it was going to come up with its own cryptocurrency last month, the company has faced a whole range of backlash from regulatory bodies not only in the United States but also in the rest of the world. The name of the cryptocurrency is Libra, and although the company is planning to launch it in 2020, the white paper has received its fair share of criticism. In a fresh development, privacy regulators in the United Kingdom, the United States, and the European Union have expressed…

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Cryptocurrency 

Petro Coin | Beginning Global Trade in Venezuela Come October

Venezuela’s president, Nicolas Maduro, just made a bold statement regarding his oil-backed cryptocurrency, the Petro Coin. The Petro Coin Maduro appeared on the national VTV channel today and delivered a speech about his country’s latest economic issues. According to VTV’s official website, Maduro said: “The Petro enters the street, as a currency of exchange, purchase and convertible currencies for the world.” However, the Venezuelan president didn’t specify the areas where the Petro will be used. Maduro also didn’t name any countries willing to accept the Petro Coin. This oil-backed cryptocurrency was…

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