The global financial system deals with almost trillions of dollars and billions of people every day. But even so, it’s full of many problems, causing frustrations over delays, extra fees, and tedious paperwork, which only opens up opportunities for crime and fraud. In fact, almost 45% of financial intermediaries across the tech and professional services sector suffer from daily crime on a daily basis. For this reason, it’s almost not surprising to witness how regulatory costs only continue to soar higher while still remaining a worrying matter for many bankers.…
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China wants its digital currency to reach greater use
The country is boosting its efforts to roll out the online yuan to the general population. China is boosting its efforts to roll out its digital currency to the general population, as local tech giants such as Tencent and Alibaba join in with its use. That said, there are a spectrum of challenges in the way of the widespread use of this online yuan. The primary question is whether people across China who are already using two exceptionally popular mobile payments systems operated by Alibaba and Tencent will want to…
Read MoreWhat are Smart Contracts? Use Cases and Examples
Smart contracts are an important part of most blockchain-based ecosystems, and the most important element of application-focused blockchains, such as Ethereum. These smart contracts are programs that run on blockchains. For instance, an Ethereum contract will run on the Ethereum blockchain. Smart contracts are digital, autonomous, transparent, trustless, and decentralized — and these contracts normally can not be modified or altered once deployed. One of the advantages of smart contracts include reducing or sometimes removing intermediaries and contract enforcement in a transaction or an agreement. With smart contracts, the code…
Read MoreYour Beginner’s Guide to Cryptocurrency Investing
Have you thought about the benefits of investing in cryptocurrency but haven’t been sure where to get started? Crypto is one of the fastest-growing opportunities for individuals to invest, often with a goal of building wealth quickly. Like any other investment strategy, there are risks here. Education and a bit of work may allow you to do well in this area, though. Understand What Cryptocurrency Is Cryptocurrency is a term used to describe virtual or digital currency. What makes it unique is that it is secured by cryptography. This is…
Read MoreHuawei mobile payments expand into new Bitcoin Wallet
BTC.com has become the first bitcoin wallet to launch on the recently-debuted handset maker’s app store. Huawei mobile payments have been brought to a whole new level with an important first. BTC.com, based in Amsterdam and Beijing, has become the first bitcoin wallet on Huawei’s new app store. This brings an important mobile payments opportunity to Chinese consumers behind the “Great Firewall.” The Huawei mobile payments will make it easier for Chinese residents to access cryptocurrency wallets, according to a CNN report. Both the Chinese government and telecom companies have…
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