Tagdigital currency

Russian Gold-Backed Crypto Slams the Global US Dollar Standard

bitcoin, gold

By CCN Markets: Russia is continuing to explore the possibility of a gold-backed cryptocurrency for use as a cross-border settlement alternative with other countries. Under heavy sanctions from the US, the potential of a value-pegged cryptocurrency could help Russia escape from the usage of the Dollar as a currency standard. Russia’s State Duma member Vladimir Gutenev proposed the creation of...

Bitcoin Not a ‘Legitimate’ Currency, But a Trusted Digital Currency Could Be: Starbucks Chairman

starbucks bitcoin crypto

Bitcoin is not a “legitimate” currency, but a digital currency could one day form the linchpin of a cashless future, at least according to Starbucks Executive Chairman Howard Schultz. Schultz made this prediction during a post-earnings conference call on Thursday, stressing -- as mainstream executives so often do -- that distributed ledger technology (DLT) can be leveraged outside of...

Brazilian Police Take down 'Digital Currency' Pyramid Scheme

On September 21, according to local publication G1, Brazil’s Civil Police took down a pyramid scheme based on a fake digital currency dubbed Kriptacoin. In Goiâna and Distrito Federal, 11 suspects were arrested for commercializing the false currency, and two are still at large. 18 search warrants have been issued. Civil Police took down the pyramid scheme, which involved over $79 million in...

Indian State of Karnataka Considers Digital Currency Policy

Digital Currency

The Indian state of Karnataka is in the process of putting together a policy that focuses on digital currencies such as bitcoin. Located adjacent to the Arabian Sea, Karnataka capital is Bengaluru, formerly Bangalore and is known as a high-tech hub. Due to a rising demand in the popular digital currency, bitcoin, the state is keen to maintain pace with the increase in investors who are turning to...

South African Town of Orania to Create Its Own Digital Currency

Digital Currency

The Afrikaner community of Orania, a rural town in South Africa’s Northern Cape province established in 1991, is set to launch its own digital currency, according to CNN. The town, of roughly 1,400 people, is somewhat controversial as it is a whites-only community that has been created on private land near the end of the Apartheid. Despite residents being mostly white farmers and traders, reports...

Geopolitics Bullish for Bitcoin

Recent debate about Bitcoin as a safehaven against geopolitics is supported by consistent buying demand for the digital currency. Furthermore, at key junctures in the War on Terror, Bitcoin has increased precipitously, with its best-known price rises coming during heightened geopolitical conflict. For instance, Bitcoin’s first memorable price increase took place as military conflict in Libya...

China to Lead the Way for Blockchain Usage

china

Industry experts have said that China is set to lead the way with the use of blockchain as it reinforces the development of digital intelligent services, reports the South China Morning Post. According to the report, this development is running alongside plans by the country’s telecommunications industry as it works at rolling out 5G mobile services by 2020. Vijay Mayadas, the vice-president of...

What is Ethereum?

Ethereum

Ethereum is a worldwide network of interconnected computers (nodes) that enforce, execute and validate programs in a decentralized manner without requiring a server, memory, CPU power, or any other computing function, as it is all provided by thousands of ethereum nodes scattered across the world. In short, ethereum is a global computer. This global computer allows applications, called...

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