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Blockchain Experts Discuss: Will Blockchain Be the Missing Piece to Financial Inclusion?

The Singapore Fintech Festival rounded up blockchain discussions on the last day of the festival, focusing on one of the main themes of the event, financial inclusion. Discussions sparked in a panel joined by Changpeng Zhao (CZ), CEO of Binance, Weimin Guo, Chief Scientist of the Bank of China, and Vice-Chairman of the Chinese Internet Financial Working Committee, … Continue reading Blockchain Experts Discuss: Will Blockchain Be the Missing Piece to Financial Inclusion?

Alternatives of USDT Gained Wider Merchant Access including Microsoft

BitPay, the blockchain payments processor, now supports three stablecoins, namely, Circle’s USD, the Gemini Dollar, and Paxos Standard Token. This will allow over 30,000 merchants, including Microsoft and Avnet to accept payments in these three stablecoins. Essentially, BitPay’s users, alongside its prepaid cardholders will have the choice to spend the above – mentioned stablecoins through … Continue reading Alternatives of USDT Gained Wider Merchant Access including Microsoft

Director of FinCEN Affirms That Cryptocurrency Industry Is in Line With Agency Regulations

The director of FinCEN (Financial Crimes Enforcement Network) Kenneth. A Blanco believes that the cryptocurrency industry is starting to fall in place with the agency’s regulations on money transmission services. A speech was given at the American Bankers Association & American Bar Association Financial Crimes Enforcement Conference suggested that FinCEN’s guidance of May 2019 showed more positive impacts of the crypto … Continue reading Director of FinCEN Affirms That Cryptocurrency Industry Is in Line With Agency Regulations

SEC New Accredited Investor Definition Could Increase Access to Certain Crypto-Related Products

The United States Securities and Exchange Commission (SEC) is looking to allow more individuals and entities to participate in private capital markets. The current criteria for the status of an accredited investor take into account an individual’s income and net worth. Individuals with over $1 million in net worth and $200,000 in annual income, or $300,000 in joint … Continue reading SEC New Accredited Investor Definition Could Increase Access to Certain Crypto-Related Products

Why Crypto Exchanges Must Reinvent Themselves to Stay Relevant or Else Face Extinction

Several crypto exchanges have shut down their operations due to various reasons. For example, many crypto exchanges have found themselves having little business to sustain the cost of staying open. Others have closed because of the lack of meeting regulatory requirements. However, cryptocurrency exchanges are not going away. There is already an adequate number of … Continue reading Why Crypto Exchanges Must Reinvent Themselves to Stay Relevant or Else Face Extinction

Nobel Laureate Prof Banerjee – Applying RCT to Financial Inclusion

On the second day of the Asian Financial Forum (AFF), Prof Abhijit Vinayak Banerjee, the winner of the Nobel Prize in Economic Sciences will deliver a keynote speech on financial inclusion. Banerjee won the esteemed prize along with fellow MIT economist and spouse Esther Duflo and Harvard Academic, Michael Kremer. What is Financial Inclusion? Financial … Continue reading Nobel Laureate Prof Banerjee – Applying RCT to Financial Inclusion

Canadian Blockchain Project to Assist Mongolian Nomadic Farmers Fight Income Instability

Convergence.tech, a Toronto-based digital transformation company, has finished a blockchain-powered project aimed at assisting Mongolian nomadic farmers in maximizing returns on their cashmere product. Betakit reported on Jan. 8 that Convergence.tech deployed an Ethereum-based traceability platform called “Backbone” to assist the cashmere herders in eradicating income instability. The farmers also face challenges, such as the … Continue reading Canadian Blockchain Project to Assist Mongolian Nomadic Farmers Fight Income Instability

The Adoption of Bitcoin May See Considerable Increase if the Proposed Cash Ban in Australia Activates

Under the new bill being considered by the Australian Parliament, people could be jailed for two years and pay a fine of $ 25,200 for just using more than $10,000. If this bill is passed, it will force its citizens to look away from traditional fiat currencies and go for decentralized digital currencies such as … Continue reading The Adoption of Bitcoin May See Considerable Increase if the Proposed Cash Ban in Australia Activates

United Nations Development Programme to Conserve and Increase Kazakhstan’s Forestland Using Blockchain

The United Nations Development Programme (UNDP) has been working with blockchain development firm BitFury in an effort to help the country reduce its greenhouse emissions by more than 15 percent as this would conserve and boost Kazakhstan’s Forestland as a part of the United Nations sustainable development goals. According to the Astana Times, BitFury is … Continue reading United Nations Development Programme to Conserve and Increase Kazakhstan’s Forestland Using Blockchain

Nobel Prize Winning Economist Abhijit Banerjee: Is Blockchain the Key to Financial Inclusion?

We went along to the Asian Financial Forum (AFF) on Day Two to hear what Nobel Prize-Winning Economist Prof. Abhijit Banerjee would say in his keynote speech on financial inclusion. Insightful as it was, it mainly covered his application of randomized control trialing in inclusive finance and the insights he and his colleagues had gained … Continue reading Nobel Prize Winning Economist Abhijit Banerjee: Is Blockchain the Key to Financial Inclusion?