Leading Japan with 60% market share, Amaten to become the next Amazon in the gift card industry, estimated to reach $2.7 trillion in value by 2027.
6th August 2020 – Japan’s largest digital gift card marketplace “Amaten” has announced plans to globalize its brand across the world, after record sale that reached $100 million USD. The company has reinvented the digital gift card solutions to create a “win-win” situation for both consumers and shops, shooting to a resounding growth in recent years. Today, Amaten has set up its first overseas operations in Dubai, UAE.
Since 2019, the gift card market generated profits worth $617 billion, this number is projected to reach a revised size of $2.7 Trillion by 2027 as demand for going cashless is accelerating during the Covid-19 era. It is a market that’s is rarely talked about yet, its current technology is completely obsolete into today’s digital world.
Retailers increasingly refer to the adoption of digital gift cards, yet they struggle with technical errors that make their cards easily compromised to be used multiple times, causing financial losses, in addition to more common issues, where gift cards have limited purchasing options and tight expiry dates.
This is where Amaten comes to the rescue, the massive success the fintech company has brought in Japan comes from the revolutionary makeovers that it created in the digital gift card industry.
At first glance, Amaten is engineering their digital gift cards with blockchain integration. It is taking the gift card and putting on a smart contract making it truly digital thus, illuminating all the structural shortcomings of the current technology. This provides a great advantage for merchants and consumers from a security standpoint, as they’ll be able to trace gift cards ensuring that it’s not compromised, as Blockchain will ensure the highest level of data encryption.
This advanced integration makes Amaten the most secure gift card issuer on the internet, thus tackling the “Gift Card Error” issue that is commonly seen among other suppliers. A long-awaited paradigm shift in this fintech industry.
Apart from accepting gift card purchases using cash, Amaten was among the first marketplaces worldwide to accept Bitcoin. Conversely, users can redeem unwanted gift cards to cash, hence tackling the issue of unused cards that counts $1 Billion in losses globally every year.
The Amaten platform currently lists the top 25 global merchants gift cards, the likes of Amazon, Apple, Rakuten, and Google within the Japanese market.
Soon, Amaten will allow any merchant to issue gift cards, thus encouraging buyers to purchase them for potential shopping in the foreseeable future, thus keeping businesses under financial support during slow economic activity.
The inspiration for Amaten’s innovation comes from one of Japan’s IT industry leaders, Mr. Tom Kanazawa, who played a major role to the backing and funding IT ventures in Japan since 1998, he is currently the Chairman of Amaten.
Commenting on the opportunities that Amaten has for investors, Mr. Tom Kanazawa said,
“Amaten has the potential of becoming a monopolistic enterprise and change the gift card for good because we are solving the last mile problem between cash and the legacy gift card, Until recently, it was deemed impossible for the industry to reinvent itself, but as for Amaten, using our blockchain solution built on Aelf, we tackled those structural issues and will ensure a seamless experience for our users and merchants, finally building a true fintech digital product and expanding the industry and its market ‘size even further. This is a true use case for blockchain technology that can be applied right away!”
Mr. Kanazawa added,
“We also have seen quite some interest in white label solutions that can be provided to hotel chains for example or enterprise incentive programs to create a truly digital and seamless ecosystem. We invite everyone interested in AMA to join our telegram channel, or to visit our website amaten.io, me and the team will be happy to cater to your questions and we’ll be here to help!”
Litecoin price prediction: LTC to hit $51, analyst
Litecoin price hits the $46 mark, but unable to find support. Strong support is found at the $45.50 mark. Analyst believes LTC price is ascending towards $51. Litecoin is going through a tough support level and can sway sideways as well. The Litecoin price traded above the $45.5 level through most of the 24-hour trade. […]
- Litecoin price hits the $46 mark, but unable to find support.
- Strong support is found at the $45.50 mark.
- Analyst believes LTC price is ascending towards $51.
- Litecoin is going through a tough support level and can sway sideways as well.
The Litecoin price traded above the $45.5 level through most of the 24-hour trade. While major Litecoin price prediction reveals that the cryptocurrency is likely to hit the $51 mark.
The cryptocurrency observed a bullish momentum near noon on the 25th of September, after which it rose past the $46 mark. On the 24th of September, the price was observed moving towards the $45 mark.
1-Day Litecoin price analysis
Litecoin was priced at $46.07 US Dollars at the time of writing. The price rose to the day’s high of $46.53 on the 26th of September. The 24-hour low was observed at the $44 mark.
Litecoin price prediction: LTC to see a rise towards 51?
Explaining his Litecoin price prediction, Trading View analyst Rohan Jas is of the opinion that the LTCUSD trading pair will rise towards the $51 mark soon. Per the analyst, the cryptocurrency recently broke above a descending trend line on the 24th of September.
The analyst believes that the cryptocurrency has entered an ascending parallel trading channel and that it is currently moving towards the $47 resistance to test it. The LTC price is expected to break above this resistance and rise towards the $51 mark, where it will test another resistance level. The target price for this trade was marked at $51.44, while the stop-loss order was laid at $41.4.
What to expect from the LTC price?
The Trading View analyst Parsah believes that the LTC price will form an ascending parallel channel and rise past the $130 mark on the long-term trade. Per the analyst, the cryptocurrency has confirmed a support structure near the $34 level, while it currently trades above an ascending trend line near $40.
The price is expected to enter an ascending parallel channel that may lead the cryptocurrency towards the resistance structure between the $130 and $160 levels. If this idea comes into play, the pattern that will be formed between the support and resistance structures will be of a cup without its handle.
Litecoin price prediction: Will the LTC price fall to $40?
Another major Litecoin price prediction expect bears to take over soon. Trading View analyst Velmunis believes that the LTC price will see a fall towards the $40 support after falling below a descending channel. The analyst used the 4-hour chart of the LTCUSD pair for its technical analysis.
Per the analysis provided above, the cryptocurrency fell on the 3rd of September after forming a head and shoulders pattern. The cryptocurrency then entered a triangle pattern, from which it broke out on the 11th of September. The LTC price has been trending close to a minor trendline until the 21st of September when it touched the bottom of the descending channel highlighted in the chart above.
The analyst believes that Litecoin will continue its trade close to the upper boundary of the descending channel, and it will fall towards the $39.28 mark once the channel is completed.
Litecoin price prediction: What’s next for Litecoin?
Another Litecoin price prediction comes from the Trading View analyst Hesha Mahli, who is of the opinion that the LTC price will fall towards the $40 mark while trading inside its current descending channel.
Per the analysis, the price will travel above the midline of the descending channel, after which it is expected to form a long-term Elliot wave projection which will allow the LTC price to break above the descending channel. If this breakout takes place, the price will rise towards the $53 resistance.
Disclaimer: The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Bitcoin Always Online In Venezuela: Launched The First Satellite Node In Collaboration With Blockstream
Bitcoiners in Venezuela don’t need the internet to send some Satoshis. Today, the crypto payments startup Cryptobuyer announced the successful launch of the first Bitcoin satellite node thanks to a collaboration between Cryptobuyer, Blockstream, and a team led by a crypto enthusiast named Aníbal Garrido.
The initiative allows interacting with the Bitcoin blockchain without the need of an internet connection. A satellite antenna installed in Venezuela is in charge of the communication between the node and the blockchain.
We successfully installed and run a satellite #Bitcoin node in #Venezuela which allows us to be independent of the internet to download messages and validate transactions. Thanks to @Blockstream @adam3us @richardbensberg @anibalcripto for all your support https://t.co/TUb6eG19XP
— Cryptobuyer (@cryptobuyer) September 25, 2020
How the Satellite Node Works
This novel solution allows the Venezuelan node to process information in real-time completely off-line. Thus, the normal functioning of the network in case of connectivity failure (something widespread in the country) is guaranteed. It also facilitates the use of cryptocurrencies in remote places where internet service is scarce, expensive, or even non-existent.
The project works as follows: Blockstream contracts a number of satellites to provide the communication service between the nodes and the blockchain. Cryptobuyer bought the necessary equipment to receive the signal and connect to the satellite, and Anibal Garrido and his team were in charge of assembling the antennas and making the required adjustments.
It’s been a pleasure working with @cryptobuyer and @anibalcripto to launch the first of many #BlockstreamSatellite nodes in #Venezuela, ensuring bitcoiners in the region are always connected to the Bitcoin network! 🛰⛓💻 https://t.co/hzqoR1nACI
— Blockstream (@Blockstream) September 25, 2020
For Alvaro Perez, a software programmer from Valencia City who helped set up the whole infrastructure, the node’s synchronization was an inspiring moment. In statements compiled by Cryptobuyer on an official blog post, the expert says that the operation was a “great achievement.”
“We downloaded the whole Bitcoin blockchain and successfully carried out the first transaction through a Bitcoin satellite node in our country on September 23, from the city of Valencia (…) We received bitcoin through the satellite connection without any internet connection. It was a moment of great achievement.”
The journey is just beginning for Bitcoiners in Venezuela
This would be the first of three antennas that Cryptobuyer plans to deploy to cover the country’s most critical areas. The remaining two will be placed in the country’s capital, Caracas, in the north of Venezuela, and Puerto Ordaz, an industrial city located south of the country.
Later on, they plan to deploy a large number of small devices that will serve as a sort of repeater antenna to create a sizeable mesh-type network that will facilitate transactions in Bitcoin even far away from the primary antenna.
Now there’s no excuse to start using some satoshis in the country. Venezuela keeps proving that it has plenty of reasons to be on the podium of the three countries with the most adoption of Bitcoin around the world.
KuCoin’s CEO: The $150 Million Hack Is “Small” For KuCoin, Insurance Will Cover
In a dedicated live stream, KuCoin’s CEO noted that although why he cannot reveal how much of the company’s total assets were affected during the hack, the stolen fund amount is “small for KuCoin.” The exchange will cover all the losses with its insurance fund.
- The company first noticed the abnormalities at 2:51 AM, Sept 26, when it received an alert from its internal risk-monitoring system. More alerts followed, indicating abnormal transfers from the hot wallet.
- At 3:01 AM, the exchange received an alert about its remaining balance from the monitoring system. Three minutes later, more alerts came in showing abnormal XRP withdrawal, which was followed by another alert that the company’s hot wallet is “running out of balance.”
- Subsequent alerts between 3:05 AM and 3:40 AM showed abnormal BTC withdrawal alongside other tokens.
- While the abnormal withdrawals were ongoing, the company set up an urgent task force and then shut down its wallet servers. However, the shut down did not do much to stop the hackers as the abnormal transfers continued.
- At this point, KuCoin realized that the private keys of its hot wallet had leaked. The company then started moving the remaining balance in its hot wallet to cold storage at 4:20 AM. The process took about 30 minutes to complete.
- Lyu said the exchange would publish the addresses used by the hackers on its official channels. An earlier report on the hack shows that the Ethereum address supposedly used for the operation contained over $150 million in ETH and ERC-20 tokens.
- KuCoin is now in contact and working with the international police, its largest clients, and industry experts for an in-depth investigation into the incident.
- The CEO also said they had asked most crypto exchanges, including Binance, Bitfinex, OKEx, BitMEX, and Houbi Global, to blacklist the hackers’ wallet address and assist with the investigation.
- The crypto community was quick to swing into action to assist KuCoin in its request. Bitfinex CTO Paolo Ardoino said they have already frozen 13 million USDT on EOS that was part of the hack, while Tether froze the 20m USDT on Ethereum in the ETH address used for the hack.
- While trading services are still available, withdrawals and deposits will remain closed until the exchange completes its wallet upgrade.
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