The past week was pretty major for both the cryptocurrency and blockchain sector. Why? Because two big-league companies (Amazon and Starbucks) hinted at incorporating either a virtual currency or blockchain technology into their corporate models.
Will Amazon (NASDAQ:AMZN) Create an Amazon Cryptocurrency?
On February 27, LendEDU conducted a study which asked 1000 Amazon customers if they would be open to using an Amazon virtual currency in case the Seattle, Washington-based company decided to branch out into creating what has been dubbed the “Amazon Coin.”
More than half of the respondents indicated that they would use an Amazon cryptocurrency. The survey also asked respondents to indicate how they feel about Amazon possibly expanding their business into other sectors, such as life insurance, mortgage lending, and more. However, the cryptocurrency question took the cake.
Starbucks (NASDAQ:SBUX) Caught the Blockchain Feels
Now we all know that Starbucks Executive Chairman Howard Shultz is interested in cryptocurrency, with one exception: he doesn’t like bitcoin. I suppose this is fair, considering bitcoin’s volatility. However, now we know that Shultz is seriously considering integrating blockchain technology into Starbuck’s business plan going forward.
During a Fox Business interview this week, Shultz stated that he sees blockchain technology as something that the Seattle, Washington-based company (is Seattle becoming a crypto and blockchain hub?) will use in the near-future. He then went on to drop hints about a potential blockchain mobile application. Cool, right?
It makes sense that these two major U.S. companies are thinking about moving into these industries. After all, they have taken the world by storm lately, and like we saw with the emergence of the Internet, no company wants to be left behind.
Even Tom Lee, a Fundstrat strategist, knew this sort of announcement was coming. Last week, Lee claimed that it is very likely that both Amazon and Starbucks will integrate blockchain technology. He also suggested the two companies will “announce a crypto-strategy” in 2018.
Both Amazon and Starbucks ended Friday’s trading session seeing green. This is a good indication that the markets are pleased with the news announced this week. Starbucks ended the day up 1.35%, while Amazon ended the session up 0.46%.
There’s a new cryptocurrency coming – ECO – but how is it connected with Uber? According to the report by Fortune’s Robert Hackett, Uber co-founder Garrett Camp is planning to start his own cryptocurrency.
The goal of Camp’s crypto is to solve the technical challenges that hinder many current cryptocurrencies, such as the scalability issues of Ethereum, along with other challenges.
Camp told Fortune that he hopes to bring crypto back to its origins as “an instant, affordable, and borderless means of payment for the masses.”
Camp has long been a supporter and investor in cryptocurrency, but once he began branching outside of the main tokens, Bitcoin and Ethereum, he wasn’t fully convinced. Camp then began brainstorming for a crypto that he would be excited to invest in – one that took a different approach and was a collaborative effort.
Camp’s crypto will be known as “Eco.”
According to its whitepaper, Eco is “on a mission to build the world’s most usable and reliable digital currency powered by a network of research universities and trusted organizations.”
Eco is actively gathering feedback and suggestions from the public to help make the crypto the best it can possibly be. Anyone is welcome to send their ideas to firstname.lastname@example.org.
Camp believes his new cryptocurrency is destined to be the “digital currency for everyone,” described as “a new type of money you can use anywhere in the world.” Eco wants to be able to distribute its economic value to the community in order to create “a more equitable distribution of resources.”
The currency is still in its beginning stages; the “design phase,” as Camp explains. There is room for Eco to grow, improve, and take on a life of its own. Camp is looking for research-backed guidance from universities and other open-source projects to help with the currency. Those with expertise in technology, economics, security, policy, design, or governance are welcome to become contributors of Eco.
Part of Eco’s guidance will come from the Eco Foundation.
The Eco Foundation
The Eco Foundation, an independent, non-profit organization created by Camp, will be the backbone of Eco. Not controlled by any individual, organization, or nation, the Eco Foundation will further the development of Eco through “transparent governance, progressive decentralization, and continuous improvement.”
Camp will be funding the Eco Foundation with $10 million of his own money, along with contributions from several small partners.
The Foundation’s board is not yet complete but will include experts from diverse backgrounds across intellectual and geographic borders.
One-tenth of the tokens to be generated for the Eco project will be reserved for the Eco Foundation.
Where will Eco go from here?
Due to still being in its beginning stages, there are infinite directions open to Eco. Putting economic power back into the hands of the people, helping to solve global financial issues – the possibilities are endless. Where will Eco go from here – that’s up to you.
Camp wants Eco to be a collaborative process that is both globally supported and accepted. Think you have an idea that will make Eco closer to this goal? Contact email@example.com.
To read the full, original Fortune article click here.
The United Kingdom is really cracking down on the cryptocurrency sector. While other countries and their central banks are welcoming virtual currencies with open arms, the UK Central Bank is putting its foot down.
Over the past two months, we have seen a lot from the UK regarding cryptocurrencies. First, Prime Minister Theresa May came forward and stated that cryptocurrencies need more regulation. We also witnessed the UK central bank terminate all of its plans to launch its own cryptocurrency. Not to mention what happened last week. I’ll give you a hint: it involves the UK Treasury and an investigation into cryptocurrency.
Today, we have received more news from the UK’s central bank regarding its thoughts on digital currencies – the head of the bank announced during the Scottish Economics Conference in Edinburgh that the bank plans to increase its efforts to tackle the use of virtual currencies in various illegal activities. For instance, cryptocurrencies like bitcoin are being used for money laundering.
Similar to what Theresa May announced, the governor of the Bank of England, Mark Carney, disclosed to the audience at the conference that there must be tougher regulations applied to exchanges. Why? Because this should help to restrain the illicit use of cryptocurrencies.
It’s worth mentioning that Carney did state that he doesn’t believe the cryptocurrency industry is a threat or poses any risks to the current financial system. However, he did say that as time goes on the issue could get bigger and then traditional institutions will be too far behind to make the improvements to their systems before the worst possible outcome occurs.
Additionally, I find it important to comment on the bank’s view on regulation. Carney stated that cryptocurrencies provide a lot of innovation, and he isn’t against all that they can do. He solely believes that regulation would help the sector, allowing that innovation to be done in a more regulated environment. Personally, I agree that more regulation could do wonders for the industry.
Some countries in Europe are against cryptocurrencies, while others are infatuated with it. The latter now includes Liechtenstein, which is a German-speaking country in Europe. More specifically, there’s a family-based bank – Bank Frick, in Liechtenstein that has decided to put all of its eggs into the crypto basket.
The world was informed this week that Bank Frick will now allow its clients to invest directly in virtual currencies. This is significant news as this makes Bank Frick one of the first banks in the world to allow its clients to such a thing. This might be a small, family-owned bank, but that doesn’t mean it’s taking any short-cuts. According to the Liechtenstein-based bank, the primary goal is to target institutional and high-value private clients. These clients have to be able to purchase in with the following: Swiss francs, euros, and U.S. dollars.
How will it work? Well, here’s what we know so far: all of the crypto assets that are under Bank Frick’s custody will be held in cold wallets. This is essentially a security measure that keeps private keys away from hackers. Further, the announcement stated that clients wanting to invest in cryptocurrencies will not be able to do so until they have been 100% verified as well as 100% identified.
Speaking of actually investing in cryptocurrencies, what will be available for trading? According to Bank Frick, to start, the bank will make the following cryptocurrencies available for trade: Ripple, Ether, Litecoin, Bitcoin, and Bitcoin Cash.
I wasn’t completely surprised by this announcement. Were you? After all, this just marks one of the latest efforts among central banks moving to support the increasing popularity of blockchain and cryptocurrency. Earlier this week, Saudi Arabia’s central bank announced that it is going to start focusing more time on exploring all that blockchain technology offers.
To regulate or to ban? Everyone is talking about the cryptocurrency mania and the future of it; some are calling crypto a complete fraud, while others consider it a reliable medium of exchange and the most significant innovation in the financial world. The unexpected growth in Bitcoin (BTC), Ripple (XRP) and other digital currencies stunned investors and regulators, forcing them to look at the factors that are driving prices higher.
While blockchain technologies have solved the problem of time and higher costs in cross-border payments, their anonymous features have opened the doors for criminal activities – allowing criminals to move their wealth through online transactions without showing the original identity. This is because several prominent names in the financial sector suggested a complete ban on digital currencies.
Is It An Excellent Idea To Ban Cryptocurrencies?
Countries like China, India, and Bangladesh has banned cryptocurrency trading and all the activities related to ICO’s to protect the country economy from the illegal movement of money to other countries. China has announced that they will not allow any form of cryptocurrency trading platform, while Indian authorities have ordered cryptocurrency exchanges to stop their operations for the indefinite time.
South Korea has also initially decided to ban virtual currencies; they retreated from their earlier stance and only presented laws that will bar anonymous transactions.The global authorities are yet unsure what to do with these alternative currencies, the idea of imposing the complete ban wouldn’t be easy for authorities considering the vast popularity and several positive aspects related to these currencies.
Regulations Will Help The Crackdown On Illegal Activities
“A better path would be to regulate elements of the crypto-asset ecosystem to combat illicit activities, promote market integrity, and protect the safety and soundness of the financial system,” he said.
Other than illegal activities there is nothing wrong with cryptocurrencies. Though investors have been raising questions about the underlying value and the massive volatility, regulating and expelling criminal activities would allow the markets to correctly price digital currencies on crypto markets.
Yesterday, Weiss Ratings held an “emergency crypto briefing” yesterday mid-day where the team discussed their strategy behind their cryptocurrency gradings. The notorious ratings bureau was founded in 1971 and has since graded everything from insurance plans, stocks, mutual funds, and financial institutions. The Weiss team took on grading cryptocurrencies late January of this year. Many have been looking for a researched and unbiased metric to gauge cryptocurrency, as investors currently seek advice for cryptocurrency investing from either forums, facebook groups, or colleagues.
During the web conference, the Weiss team’s econometrician and mathematician, Juan M. Villaverde, spoke about his top cryptocurrencies and the five to avoid. I covered that yesterday here. If you’d like to listen to the entire briefing of their strategy, you can do so by clicking this link.
Dr. Weiss prompted a question to Mr. Villaverde during the web conference asking him what metrics an investor should follow when considering cryptocurrency investing. Villaverde followed the question with seven metrics all investors should use to research a specific cryptocurrency and its underlying project before actually investing. The first couple he put a lot of emphasis on but was very brief with the last few. If you are new to cryptocurrency or even a ‘seasoned’ investors, these seem to be a great start to cryptocurrency investing.
A big issue when cryptocurrencies were taking off in the second half of 2017 was the upgrades requiring hard forks. Projects and their developers were unable to agree on which direction the project should be headed causing multiple chain splits such as Bitcoin Cash and Bitcoin Gold. Governance is the top question Villaverde asks when looking into a new cryptocurrency. What is the voting mechanism or decision making process for the advancement of a project? Does the blockchain even require a hard fork for an upgrade?
To compete with giants like Visa and Facebook, blockchains need to be able to complete transactions at lightning speeds. Many of the new generation blockchains can verify thousands of transactions in a second, that is a big metric to take into account. Can the transaction times compete in the market? Along with the speed of the transactions, comes the cost. The slower the verification of transactions, the higher the fees so these are synonymous. Many new blockchains on the market are now fee-less, as well.
What can be done on top of the blockchain? Bitcoin allows for smart contacts, but it’s mostly just a payment vehicle. Its smart contracts allow for payment reversal and multi-signatures, but that’s about it. With Ethereum, an entire company could literally be built on top of the platform since its smart contracts allow for that. Obviously, Ethereum couldn’t handle it currently due to its scaling issue, but its smart contracts allow it. What is the potential of the project and cryptocurrency, down the road?
How trustless is the project? How much influence is exerted over decisions?
What types of security measures are taken? What code is used on the blockchain, is it widely known or a brand new code not many know? Generally a longer blockchain and more nodes, the harder the code is to crack, as well. The length of the project is something to take into consideration, as well.
How well known is the project/digital currency? Does it have a strong following?
This is by far the hardest metric to gage and one you might want to rely on Weiss ratings for. It can be almost impossible to come up with these calculations on your own, if you don’t have a strong financial background.
Abra, the bitcoin and cryptocurrency payment founded in 2014 by Bill Barhydt, a veteran in the cryptocurrency space is now the first and only all-in-one app allowing users to buy, sell and hold across 20 cryptocurrencies and 50 fiat currencies. Users can exchange across any currency with no deposit or exchange transaction fees, at any time with no limitations.
The new version of the Abra app for iOS and Android is available today to all users globally with an initial 13 cryptocurrencies, which include: Bitcoin [BTC], Bitcoin Cash [BCH], Dash [DASH], Dogecoin [DOGE], Ethereum [ETH], Ethereum Classic [ETC], Golem [GNT], Litecoin [LTC], OmiseGO [OMG], Qtum [QTUM], Ripple [XRP], Vertcoin [VTC] and Zcash [ZEC]. The additional 7 cryptocurrencies, including Bitcoin Gold [BTG], Stellar Lumens [XLM], DigiByte [DGB], Augur [REP], Status [SNT], Stratis [STRAT] and 0x [ZRX] will be available to all Abra users in the coming days.
“With the exponential growth of cryptocurrencies and their increasing importance in today’s culture, the Abra app offers a timely mobile experience that provides more access and exposure to these new digital currencies in an easy, quick and safe way,” said Bill Barhydt, founder, and CEO of Abra. “Our goal is to empower customers around the world, using their local currencies to freely invest in a wide variety of cryptocurrencies at any time, from anywhere without the restrictions of banks and fees. For the first time in the world, users can transact in and out of fiat or cryptos almost instantly.”
“By bringing 20 cryptocurrencies onto one platform, Abra has repaired a fractured system that has frustrated users who want to expand their crypto portfolios,” said Vinny Lingham, co-founder and CEO of Civic and General Partner at Multicoin. “Abra has unified the processes and transactions onto one app, creating a seamless user experience that the crypto community has long been asking for.”
“I’m excited to see Abra has chosen to use the Litecoin network in the newest iteration of its app,” said Charlie Lee, Founder of Litecoin. “Litecoin’s unique combination of low fees, high throughput, and secure immutable transactions is a great fit for its use as programmable money.”
How Abra works: Consumers can add money to their wallets using a bank account, an American Express credit card in the United States or using bitcoin purchased outside Abra from anywhere in the world. They can then invest in any of the 20 cryptocurrencies offered on the Abra app, quickly, easily and safely. To develop the new wallet and integrated exchange, Abra built a platform using price-stabilized crypto tokens, called stable coins, that facilitates holding both fiat coins as well as cryptocurrencies through a combination of litecoin and bitcoin-based smart contracts. This unique multi-sig smart contract based investment platform uses P2SH scripts on the litecoin and bitcoin blockchains that simulate investment contracts the way a gold ETF is a contract based on USD. Abra acts as the counterparty (i.e. the other signatory) to the P2SH scripts, enabling the company to now run a market-making operation that hedges away its counter-party risk on these scripts.
“With the launch of 20 cryptocurrencies in its app, including Dash, Abra is bringing innovation and simplicity to cryptocurrency investing,” said Ryan Taylor, CEO of the Dash core team. “Consumers can now instantly invest in a wide variety of cryptos while managing their investments in one place. Abra is the first company to enable such a diverse range of cryptocurrencies in one wallet, and I’m excited to see Dash as one of the supported cryptocurrencies at launch.”
“I am delighted that Abra chose to include Zcash as one of the many cryptocurrencies it now supports,” said Zooko Wilcox, CEO of the Zcash Company, “By buying or selling Zcash, you make it easier for other people around the world to use it, such as for sending remittances to their families back home. Abra makes it easy to own a diverse range of cryptocurrencies in one wallet, and I’m happy to see them offer this to users.”
“Abra has developed an easy-to-use app for managing investments in cryptocurrencies,” said Dan Boneh, Professor of Computer Science and head of the Applied Cryptography Group at Stanford University. “Their use of multi-sig technology in bitcoin and litecoin to create investment contracts is quite powerful. That they have done it in a super user-friendly way is commendable.”
Through the use of its stable coin platform, Abra can quickly add additional cryptocurrencies to the app once they pass the platform’s rigid analysis around liquidity, contract market making, and other factors. Additionally, consumers in any country can now invest in any asset class regardless of where the asset originated. This model can be extended to stocks, bonds, commodities and more with no changes to the existing Abra app. Finally, Abra can be used to send money in addition to investing, allowing Abra to become a crypto bank.
BlockCAT Technologies, a company that allows anyone to create, manage and deploy smart contracts on the Ethereum blockchain with no programming required today launched Tabby Pay. It is a smart contract that’s built to prevent user error. If you send Ether (ETH) to the wrong wallet, you can cancel the payment and your Ether will be returned. BlockCAT recently conducted a survey in which the findings reveal 74% of users own their private key to their primary wallet, 94% worry about making a mistake when sending crypto, and 11% have actually sent their crypto to the wrong address.
Now users can interact with Tabby Pay’s simple web-based UI to send Ether payments to anyone with a Web3 enabled wallet quickly and easily. The masterpiece is that users can actually cancel payments after they’ve been started. TabbyPay is, in fact, stopping the payment before it ever gets sent to the network, the app requires the recipient to confirm their receiving wallet. So if a user makes a typo entering a wallet address, the intended recipient cannot complete the payment, and the Ether will be returned.
The BlockCAT team stated:
“Think back to your first foray into crypto. How many tutorials did you read before signing up for your first exchange? How careful were you when setting up your first wallet? How anxious were you when you sent your first transaction?”
“These pain points are very real barriers to entry for a lot of potential users. And while there are a number of companies working on easy, straightforward solutions to some of these problems, few have stepped up to tackle one of the most common and stressful pain points of all: preventing user error.”
The blockchain industry witnessed a boom in 2017 with its safe, reliable, decentralized and tamper-proof features, the technology is gradually moving from geek to the general public. It not only opened up a revolutionary industry but also makes cryptocurrency a new investment and financing model, which completely detonates financial market and presents a tremendous commercial prospect. However, opportunities and challenges co-exist. Under the enormous return on investment, an increasing number of investors and teams streaming into the market, but the risk of investment in the field of cryptocurrency surges and the market presents a trend of brutal growth.
The company says they are the price monitoring app with the largest market share in China, MyToken focuses on the pain points of the industry with the aim of restructuring its investment ecosystem to become a clear stream in the field of cryptocurrencies.
What are the pain points brought by cryptocurrencies with brutal growth?
According to an incomplete statistics provided by MyToken, there have been almost 500 financing activities including initial fundraising for a public offering of tokens since 2017, which raised a total amount of 5 billion USD. The rapidly inflated market and the crazy development trend expose the ecological pain of cryptocurrencies in a more clear manner.
Investment transactions are too fragmented for people to measure their personal assets. Today, the total varieties of encrypted currencies available for trade now have soared to over 2,000 while the number of well-known exchanges offering digital currencies has reached nearly 300. For investors, the purchase of cryptocurrencies and the choose of exchange are full of difficulties. Transactions often go through multiple platforms, such as Over-The-Counter trading desks and token exchange platforms. Users may waste lots of times during the transactions among platforms. Due to the extremely fragmented transactions processes, users’ overall experience normally cannot form an effective closed-loop. Meanwhile, it is difficult to measure the individual assets scattered across exchanges. The costs of getting started with the learning of cryptocurrency trading are normally high, which makes it difficult to use as easily as that of stocks and futures.
Decision-making costs of users are high while the market is full of chaos. The essence of cryptocurrency is the investment is the early start of businesses and projects while individuals are actually acting as their angel investing institutions. However, the unequal information between project parties and users may lead to wild increases the decision-making costs of investments. It has become a big challenge to judge the authenticity of project information, the rationality of market value and the reliability of the team, and the risk of user investment soars correspondingly. Meantime, since blockchain has the characteristics of decentralization and globalization inherently, it’s very difficult for countries and governments to effectively regulate the entire industry through administrative orders. With the fickleness in the investment climate and the expectation in get-rich-quick, the phenomenon of frequent fraud has made many investors suffer from losses and caused chaos in the entire industry, which has brought a severe blow to the blockchain industry that is about to enter the rapid development.
The rapid growth can even worsen the pain points of cryptocurrency industries. When many air projects have collected a huge amount of money and flee the market together, who will be the one to settle the disturbed situation?
Can the solid landing MyToken reshape the investing in ecology?
MyToken starts from the pain points, committed to bringing a healthier future to the investment ecosystems. The project started in August 2017 with a breakthrough in cryptocurrency business. After six months of high-speed product iterations, it has become the price monitoring app with the largest market share as well as the most active user bases in China.
After a six-month period of development, MyToken has successfully solved the first pain point of the whole encrypted currencies industry- to satisfy the needs of one-stop view of the instant price among different exchanges, in order to achieve an easy management of investors’ personal assets.
Currently, MyToken has become the most popular market and information platform in China with more than 400,000 users, over 150,000 DAUs, more than 50 mature communities of core users. The application has now covered iOS, Android, HTML5, and Mac.
However, price monitoring application is just the starting point for the platform to establish a complete business empire. Today, MyToken is building a healthy cryptocurrency investment platform, with the objective of further ameliorating the industrial pain points and providing a bi-directional and transparent ecosystem for the development of the crypto market.
On the one hand, MyToken seeks to create an efficient investment environment that helps investors and developers better understand and participate in the future world of blockchain. It helps investors to depend on the understanding of blockchain industry and the project parties with the most objective and neutral data, information and tools, reduce the decision-making costs and integrate which into the blockchain world through data consolidation, UGC, community and ecosystem services in a more effective manner.
On the other hand, MyToken will be introducing both decentralized technology and token system to attract more eco-builders and business partners to jointly create an efficient, friendly and non-evil cryptocurrency investment ecosystem.
MyToken’s ambition does not emerge out of the void. Its vast user base and successful operational experience help provide us with a two-way transparent ecosystem. Moreover, matured projects often tend to be more popular among investors. MyToken’s achievements and reputation in its industry have added more to our expectations.
Can its culture-driven team become a clear stream in the industry?
MyToken believes they are building something to become a clear stream in the cryptocurrency market that is flooded with air projects. Today, the platform is gradually expanding, transforming its ecosystem and based on the business architecture after transformation, issuing ERC20 standard cryptocurrency and named MT.
MT will carry the value of circulation in MyToken’s ecosystem and become the blood of ecological co-construction and value consensus. At the same time, the ecological value is bound more deeply to all its members and investors to encourage value investments.
The system will periodically allocate [MT Contribution] according to the amount and period of MTs held by users. [MT Contribution] will be linked with user rights in some scenarios and consumed in the course of user behaviors.
In the future, MT will show great value for the improvement and upgrading of MyToken business, which is mainly shown as follows:
The platform sets up the information channel between project and user through accurate advertising while MT acts as a value carrier to realize the circulation between the advertiser and the user.
The platform links major exchanges and provides one-stop trading services for investors while MT will be used to offset the fees in the transaction process for users.
The platform selects reliable projects to help project parties and investors establish more accurate channels of mutual choices as well as build up convenient overseas ICO platforms. Project parties can accurately disseminate fundraising information through MT while investors can obtain a good experience and a highly consistent operating interface and avoid complicated and tedious processes by means of single-point KYC certification.
Based on the ecosystem, the platform is able to establish a comparatively more completed data services, such as quantitative trading, trading with investment, derivatives trading, smart contract audits and professionalized project evaluation. Developers and professional teams can charge MTs from users as the service fees. Meanwhile, MT contribution will be consumed when MyToken is about to open source;
The platform builds DApp Store. Project parties and developers can consume a certain amount of MT contribution to release their DApp in the DApp Store, and obtain the better presentation of performances by paying MTs. Users can easily search or add their favorite DApps in the store and make recommendations and comments on it.
Create an active and reliable UGC content creating a platform. As a value carrier, MT circulates in the platform and becomes the value carrier for users to create content.
Iris Zhang, a partner of the Spectra Ventures & Advisory, the consultant institution of MyToken, gives us a hint that products with high-frequency user behavior approaches are more inclined to be the traffic entrance. “In the next 3 to 5 years, this industry stands a chance of being a unilateral rise.” She added “It is also a rough estimation showing that the monthly profit of MyToken, to a large extent, will be counted in ten millions of CNYs. Moreover, the growth opportunity of MT is also rest-assured thanks to the mechanism featuring buy-back of tokens and, it is very likely to meet the target of buy-back of tokens to reduce its amount in circulation to 4 billion. However, the continuous growth of users and cooperation demands will make MT desperately needed and definitely deserve much attention.”
Not only has MyToken brought an ambitious blueprint for the blockchain world, but its healthy and steady development pattern has also become a clear stream in the blockchain world. As we can see, new reforms and challenges are being embroiled in the area of irregularly developed cryptocurrencies. MyToken can help more people participate in the transformation of the blockchain’s era in a faster and more effective way and jointly create a bright future for the entire industry and the human world if they are able to establish efficient connections between the blockchain world and the traditional ones, the blockchain-based project parties and investors and help all people better understand the world of the blockchain projects and the blockchain technology itself.
We expect blockchain to truly exert its value. The team of MyToken believes it can always rely on its “non-evil” values to make technology better serve human beings and bring prosperity to the times.
Those interested can add MyToken on Telegram to get updated info and 200 FREE MTs.
Today, the Dash core team announced a new integration and partnership with Payza, a UK based online payment provider. Having recently added multiple ways to support transactions in crypto, Payza users will now have the ability to send and receive Dash to and from other Payza users, spend it at over 100,000 e-commerce retailers, and exchange Dash to 25 different fiat currencies or Bitcoin.
CEO of Dash Ryan Taylor said, “Payza is an exciting partnership for Dash because our respective missions are so well aligned. Payza is supporting underbanked populations in nearly 200 countries, and the Dash network’s low-cost instant transactions are ideal attributes for meeting these customers’ needs. Payza is also well regarded in the industry with literally millions of users and they’ve thus far refrained from integrating other coins across their platform. We are truly humbled to be selected as the first digital currency to integrate beyond Bitcoin, and we look forward to supporting Payza’s growth going forward.”
Payza is headquartered in the UK, but primarily serves Asia, Middle East, Europe and South America, with some of its major markets including Venezuela, Nepal, Pakistan, Brazil, Mexico, and Haiti. It was founded to provide an alternative method of payment and storage of currency for people who have difficulty accessing bank accounts and traditional financial institutions. Over the past several months, Payza had received significant customer demand for built-in Dash access, particularly for its low fees, and focus on helping underbanked communities.
Payza CEO Firoz Patel said, “There are several reasons that we chose Dash to be the second cryptocurrency integrated into our platform, after Bitcoin. Dash boasts low network fees and fast transactions, two features that users look for in a cryptocurrency. Dash also has a vibrant and active community, especially in the developing world, which appeals to us as a company that also focuses on empowering underbanked populations. Finally, Dash is user-friendly and has a roadmap in place to further improve usability.”
Payza’s Dash integration is made possible through leading blockchain web services and infrastructure provider, BlockCypher. BlockCypher specializes in blockchain agnostic solutions and makes it easier for users and companies to interact with several cryptocurrencies through one solution.
“We are excited to see Payza integrate Dash so quickly using our web services and infrastructure,” said Karen Hsu, Head of Growth at BlockCypher. “Payza leads the digital payments market in providing customers with the choice to use Dash and digital currencies, which have become the fastest and most economical way of making cross-border payments for people around the world.”