Connect with us

Blockchain

The Future of Branded Stabecoins

Stablecoins are rising in popularity, leaving many wondering what the future holds for this type of cryptocurrency. The growing number of brands developing or looking into branded stablecoins is also on the rise. But why? The utility of using stablecoins to process payments certainly makes sense for brands. “For traders and investors, however, stablecoins address […]

The Future of Branded Stabecoins was originally found on Blokt – Privacy, Tech, Bitcoin, Blockchain & Cryptocurrency.

Published

on

Stablecoins are rising in popularity, leaving many wondering what the future holds for this type of cryptocurrency. The growing number of brands developing or looking into branded stablecoins is also on the rise. But why? The utility of using stablecoins to process payments certainly makes sense for brands.

“For traders and investors, however, stablecoins address a problem that plagues many popular crypto exchanges around the world—the exchanges don’t have relationships with banks, meaning investors can’t use dollars, euros or other government-backed currency to buy the cryptocurrencies they want to trade,” Tomio Geron explained in a Wall Street Journal article.

However, there is certainly more to the enticing nature of a less volatile form of digital currency. Payment flexibility, price stability, and blockchain technology is supported by today’s stablecoins. But let’s not count out the cost cutting profits, YOY financial growth, marketing opportunities, and customer loyalty at stake for early adopting brands. And brands are certainly seeing the value.

Facebook is developing Libra, a stablecoin that could completely disrupt the financial space, opening up global payment pathways to its 2.41 billion worldwide user base.

This of course comes with a few security concerns, but Facebook isn’t the only brand on the blockchain. Walmart is also looking into its own branded stablecoin, hoping to follow in the development steps of Facebook’s Libra.

Branded stablecoins could ease cryptocurrency and blockchain technology adoption across multiple industries. “Today, with over 120 projects on the market, it seems that stablecoins may lead the mass adoption of cryptocurrency payments for which the industry ‘veterans’ have been waiting,” Tatiana Koffman said in a Forbes article.

In fact, the stablecoin industry could be valued at a trillion dollars within ten short years. So what’s the future of stablecoins? Branded stablecoins. Let’s take a closer look.

Facebook Libra and Walmart Branded Stablecoins

Stablecoins have been relatively “under the radar” when it comes to cryptocurrency. The recent stablecoin popularity has come on the heels of Facebook’s stablecoin Libra, and now Walmart’s application for a cryptocurrency patent.

P.H. Madore explained in a CCN article, “Is Walmart trying to compete with Facebook Libra? Will CEO Doug McMillon be hauled in before legislators to defend his company’s right to innovate? Will the token ever actually launch at all?”

It would appear that Walmart is interested in cryptocurrency, whether or not they intend to develop and launch a stablecoin is difficult to tell. They did state that the cryptocurrency may be supported by USD. As difficult to tell as it is, it would, however, make sense.

For instance, Walmart could become a payment system in itself, since they stated in the patent application that the crypto could serve up no to small fees. Walmart could also:

  • Become the Bank of Walmart. Walmart believes that its low income customers could find a branded stablecoin easier and less expensive when compared to traditional banking alternatives. Walmart could essentially cover financial needs, and product needs under one roof for their customers.
  • Eliminate the use of credit cards. With a Walmart branded stablecoin, the biggest enterprise retailer in the world could effectively make credit cards obsolete. The alternative would be fingerprint and retina scanning to make transactions.

Here’s a breakdown of those fees . . .

It does sound a bit futuristic, but stablecoins could be the future of payments. Facebook and Walmart could very well corner the stablecoin market with their forward-thinking approach to making cryptocurrency mainstream.

What are the Branded Stablecoin Benefits?

The payoff could be huge for brands that become early stablecoin adopters. From quarterly profits to marketing, there are a number of business areas where stablecoins can make a positive impact. These areas include:

  • Large cryptocurrency reserves. A brand, like Facebook or Walmart, that releases its own stablecoin can easily convert coin for cash. This allows the brand to keep a large reserve of cryptocurrency, which in turn generates larger yearly profits.
  • No more card processing fees. Brands typically pay two percent to five percent when a customer uses a card. When dealing with digital transactions that are peer-to-peer on a generally decentralized blockchain, the fees are zero to very low.
  • Boost customer loyalty programs. By incentivizing customers with stablecoin, they can take customer loyalty programs to the next level. Using rewards and discount offers via branded stablecoins makes this very easy.
  • New sustainable marketing opportunities. Just look at all the press Facebook and Walmart have received due to stablecoins. These brands don’t even have an actual digital coin available and the marketing opportunities have increased exponentially. Stablecoins and cryptocurrency also speak to the next generation of consumers and users.

The Next Generation Stablecoin is Around the Corner

Today’s stablecoin is Tether, USDS, PAX, and others, simply pushing the less volatile angle with the 1:1 ratio between digital coin and a fiat currency or commodity. However, this generation of stablecoin is almost over. The next generation will maintain the non-volatile benefit, but also be heavily branded and come with a lot of new utilities like rewards, exclusive features, and potentially meta-stablecoins.

So the future of branded stablecoins is “branded” stablecoins themselves. Brands are beginning to see that the less volatile cryptocurrency could lay the foundation for many of the original crypto utilities we’ve all been waiting for. It will certainly be exciting to see how stablecoins disrupt nearly every industry in the decade to come.

The Future of Branded Stabecoins was originally found on Blokt – Privacy, Tech, Bitcoin, Blockchain & Cryptocurrency.

Source: https://blokt.com/news/the-future-of-branded-stabecoins

Blockchain

Bitcoin Just Marked New 2020 High, But This Indicator Signals Correction Incoming (BTC Price Analysis)

Published

on

Starting by looking at the bigger picture, Bitcoin price had made a remarkable run since October began, gaining almost $3000 to its value.

Looking at the following long-term weekly chart, we can see this week’s greenish candle that will be closed later today. From a technical point of view, as long as the candle close price is above the $12,500 area (previous high) – we can safely say that BTC is on a healthy uptrend.

btc_oct25_w-min
BTC/USD weekly. Chart by TradingView

The Good and The Bad: New 2020 High but Bearish Divergence

Just a few hours ago, Bitcoin price recorded a new 2020 high close to $13,400 (on Binance Futures); however, the primary cryptocurrency could not hold there, and quickly slumped to $12,700 in a matter of one hour.

Looking at the shorter-term chart, the 4-hour, we can identify a bearish divergence on the RSI. This is a bearish pattern and might indicate that the buying power is fading away.

This happens when the price goes through a higher-high, but the RSI indicator is doing the opposite and going through a lower-high.

Another worrying sign is the trading volume. Since its peak volume on October 20-21, four days ago, the trading volume decreased even though the BTC price had actually gone up.

BTC Support and Resistance Levels To Watch

As mentioned above, if BTC were to correct, then the first major level of support lies at the current levels around $12.9 – $13K. If Bitcoin breaks here, then the first significant level lies at $12,700, followed by the previous 2020 high from August at $12,400 – $12,500.

From the bullish side, if Bitcoin holds the $13,000 – then the first levels of resistance lie at $13,200, followed by today’s high around $13,400. Bitcoin will be looking to break the 2019 high from June – at around $13,880.

Total Market Cap: $400 billion

Bitcoin Market Cap: $240 billion

BTC Dominance Index: 60%

*Data by CoinGecko

BTC/USD BitStamp 4-Hour Chart

btc_oct25_4h-min

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Source: https://cryptopotato.com/bitcoin-just-marked-new-2020-high-but-this-indicator-signals-correction-incoming-btc-price-analysis/

Continue Reading

Blockchain

Bitcoin Breaks New 2020 High As Total Market Cap Topped $400 Billion (Market Watch)

Published

on

Bitcoin continues with the 2020 records and just a few hours ago marked a fresh high of above $13,350. Most alternative coins followed suit with impressive increases, but the market has calmed since then. The entire cryptocurrency market clocked at above $400 billion.

Bitcoin To Yet Another 2020 High

CryptoPotato reported a few days ago that the primary cryptocurrency exceeded the August 2020 high of about $12,500 and reached $13,200. What followed was a slight retracement to about $13,000 and stagnation yesterday.

Nevertheless, the volatility returned in the past 24 hours, and BTC headed towards new highs. This time, Bitcoin broke above $13,350. In fact, according to data from Bitstamp, BTC’s new 2020 high is at $13,362.

Another sharp rejection followed, and the asset tanked briefly below $13,000. Nevertheless, the bulls have since driven it above the coveted mark, and BTC trades at about $12,940.

A compelling chart recently revealed that Bitcoin is forming an inverse head and shoulders pattern. If it’s to play out, the cryptocurrency could soon skyrocket even further and top its all-time high of $20,000.

You Might Also Like:

If this scenario is indeed to materialize, Bitcoin would have to break above the resistance lines at $13,420, $13,500, $13,815, and $14,000 before reaching new records.

btcusd_chart
BTC/USD. Source: TradingView

Altcoins Follow Up And Calm Down

Most alternative coins experienced similarly increased volatility as Bitcoin. Ethereum surged to a new 7-week high of nearly $420. However, ETH quickly retraced and is now hovering around $409 again.

Ripple’s highest level came at about $0,26, but XRP has since decreased to below $0.253.

Thus, on a 24-hour scale, most larger-cap altcoins have remained essentially at the same positions as yesterday, despite the brief price jumps. Chainlink and Litecoin have registered the most gains of about 3.6%. LINK trades close to $12.35, and LTC is positioned at $56.3.

heatmap
Cryptocurrency Market Heatmap. Source: Quantify Crypto

The most impressive gainer since yesterday is Filecoin. After the recent controversy and continuous price slump, FIL has surged by 45% in the past 24 hours.

Ocean Protocol (18%), Quant (17.5%), THETA (10.2%), Reserve Rights (10.2%), and Ampleforth (10%) have also increased by double-digit percentages.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.

Cryptocurrency charts by TradingView.


Source: https://cryptopotato.com/bitcoin-breaks-new-2020-high-as-total-market-cap-tops-400-billion-market-watch/

Continue Reading

Blockchain

Ripple Board Member Arrested on Cyberstalking Charges

Published

on

  • Ripple board member and a close family friend of US President Donald Trump, Ken Kurson, has been arrested following allegations of cyberstalking.
  • According to the New York Times, Kurson has stalked and harassed a total of five victims, including his ex-wife.
  • He was reportedly most vicious against a friend of his ex-wife, whom he blamed for his divorce. He used pseudonyms to contact the hospital she worked and sent fraudulent emails claiming that she had an affair with her boss. Kurson also initiated a flood of negative Yelp reviews, threatening emails, and anonymous calls and messages to other hospital employees. 
  • The woman claimed that Kurson had used the same tactics against another female victim, who was fired from her job. The criminal complaint also asserted that the second victim is Kurson’s ex-wife.
  • The public corruption unit of the United States attorney’s office in Brooklyn is handling the case. A judge released Kurson from custody pending trial. 
  • Kurson is a close friend of Donald Trump’s son-in-law Jared Kushner. Kushner had previously appointed Kurson as the editor in chief when he owned The New York Observer in 2013. 
  • In 2018, the Trump administration offered Kurson a seat on the board of the National Endowment for the Humanities. After a routine background check from the Federal Bureau of Investigation, Kurson withdrew from consideration.
  • Kurson joined the board of directors at Ripple in early 2017. The announcement highlighted that Kurson was one of the first investors in the company. 

Featured Image Courtesy of CNBC

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).


Source: https://cryptopotato.com/ripple-board-member-arrested-on-cyberstalking-charges/

Continue Reading

Trending