Your Cryptocurrency Newsletter for 07 SEPTEMBER, 2020

If you are interested in cryptocurrencies, this newsletter is for you. [img]  [Learn more about RevenueStripe...](   [Learn more about RevenueStripe...]( [img]( [FeedBinary Newsletter]( [3 Ways To A More Sustainable Life With Blockchain]( Today, the carbon emission, which causes global warming and climate change, has increased gradually with the rapidly increasing production to meet the needs of the world population and has become a problem to be solved. In the meetings held recently on prevention of carbon emissions, authorities came together and started to come up with solutions. At this point, steps are being taken to reduce carbon emissions and make the planet a sustainable development with blockchain and digital money technologies that have been discussed in recent years. [blockchain] The most talked about topic of the World Economic Forum this year was how to save the planet. Prince Charles from Britain announced that the Sustainable Markets Initiative was established in cooperation with the World Economic Forum in order to identify the ways to decarbonize the global economy and to make transition to sustainable markets. On the one hand, Microsoft CEO Satya Nadella stated that data privacy should be seen as a fundamental human right. Sumedha Deshmukh, World Economic Forum’s Blockchain and Digital Currency Officer, stated in an article he published that changing traditional approaches in the fields of production, management and supply chain for sustainable development plans and using blockchain technology in these areas with the right use can provide significant benefits for the future. According to Sumedha Deshmukh, blockchain technology for sustainable development purposes; It can be effective in creating flexible and transparent supply chains, creating stronger and more accountable public institutions and encouraging a conscious use of resources. Footsteps of Blockchain and Digital Money Started to Be Heard in 2020 Sumedha Deshmukh pointed out that in 2020, when a global digitalization wind began to blow with the Covid-19 outbreak, blockchain technology was actually implemented at some points within the scope of sustainable future planning; He emphasized that this year is an important year for laying the foundations of digital money and digital identity. Stating that studies such as the Global Digital Finance Code and Presidio Principles are important steps in the standardization of blockchain technology, Desmuhk stated that these studies should ultimately be realistic and based on the principles of consumer protection.The article also stated that some organizations such as the Human Rights Foundation and the American Red Cross have long accepted donations with cryptocurrencies, and that sustainable future planning has also seen an increase in the use of digital money. Accordingly, UNICEF has recently announced the Crypto Fund. Desmuhk stated that the use of blockchain is becoming more widespread while the discussions of central banks on digital currencies and fiat currencies in the world, and cited the use of blockchain technology to verify identity in the Building Blocks project of the World Food Program. 3 Main Focal Points That Need To Be Worked On: Establishing flexible and transparent supply chains According to Sumedha Deshmukh, World Economic Forum Blockchain and Digital Currency Officer, with the Covid-19 epidemic, which has affected all over the world today, the disruptions and vulnerabilities of global supply chains have become apparent. In order to deal with these problems, there have been initiatives that started blockchain research or accelerated their current work. For example, multinational development banks such as the Asian Development Bank and the Inter-American Development Bank have started blockchain research. The UNICEF Innovation Fund has used blockchain technology to track a vaccine distribution in India. In addition, AB InBev company used blockchain to provide transparency in pricing local crops in Zambia. According to Sumedha Deshmukh, who stated that the problems in the supply chain could not be completely solved as a result of the researches and experiments carried out, the working structure of the global supply chain should be reconsidered effectively, significant cooperation should be established in the production and distribution network, and the issue of data integrity should be taken into consideration. Creating strong and transparent public institutions According to Deshmuk, who says that public institutions are one of the biggest sources of government expenditures, in this context, the biggest source of official corruption around the world is again public institutions. Public institutions, which have a complex and insufficiently transparent structure, can become the center of extravagance because they cannot be put in an accountable position. Emphasizing that blockchain technology can be used to increase external surveillance in this regard, Deshmuk stated that although blockchain alone is not enough, it can be a powerful tool with the tracking models created by Transparency International and the Partnership for Transparency Fund. Promoting the conscious use of resources Deshmuk stated that when the climate change and human rights issues that determine the agenda of the World Economic Forum this year are discussed, the importance of displaying a conscious behavior in production and consumption has emerged; He mentioned that blockchain technology has begun to be researched and used in places for monitoring carbon emissions, transparency of the supply chain and ethical sourcing. Stating that the moves to be made in line with these focuses should be done carefully and in good faith, Deshmuk finally stated that he believes that sustainable future plans will be successful in the future. [Read More]( The post [3 Ways To A More Sustainable Life With Blockchain]( first appeared on [Feed Binary](. [Read Full Story]( ------------------ You Might Like     [Learn more about RevenueStripe...]( ------------------ [China Digital Currency Could Revolutionize Global Payments]( China is well on its way to becoming a cashless society. More than 600 million Chinese already use Alibaba’s Alipay and Tencent’s WeChat Pay to pay for much of what they purchase. Between them, the two companies control approximately 90% of China’s mobile payments market, which totaled some $17 trillion in 2019. A wide variety of sectors throughout China have since adopted blockchain to pay bills, settle disputes in court, and track shipments. The Chinese government understands that, via blockchain, the issuance of its own cryptocurrency is an excellent way to track and record the movement of payments, goods, and people. The unsexily named Digital Currency/Electronic Payments (DCEP) is intended to be used by anyone around the world to purchase anything. It has the potential to revolutionize the global payments system. Assuming it succeeds, many other countries will want to emulate it. Some other governments have already launched similar initiatives, but not on the scope or scale of the DCEP, which promises to be the first global digital currency. What appears to have spurred the Chinese government to actively pursue the DCEP in 2019 was the birth of the Libra Association (Libra). Libra is a grouping of more than two dozen organizations creating the world’s first blockchain-derived global payment system, specifically founded on best practices in regulation and governance. Its stated objective is to transparently bring access to financial services to billions of people who either have limited or no access to the existing global banking system. Given that it is an American-led initiative that will use the U.S. dollar to determine its benchmark value, Beijing viewed Libra as an attempt to establish U.S. dominance over the global cryptocurrency marketplace. It previously viewed other cryptocurrencies as a threat to its own hegemony over capital controls in China. Although its motivations to counter the U.S. are clear enough, much remains unknown about the DCEP. One has to wonder just how much focus it will have on transparency, governance, or best practices. It will not be available on cryptocurrency exchanges, nor will it be available for speculative purposes. Embracing blockchain and creating a DCEP ecosystem will give the Chinese Central Bank unprecedented power over capital movements – certainly in China, but also around the world. Like Alipay and WeChat, the DCEP will require a digital wallet, but it will not require a bank account. Commercial banks will issue the digital wallets, but no Internet connection will be required to conduct transactions via the DCEP. All that will be required is that a phone has battery power. While a certain degree of anonymity will be present with the DCEP, the Chinese Central Bank will still be able to track who spent or received funds, when, where, and with whom. The Chinese government calls the concept “controllable anonymity” and will rely on big data to identify behavioral characteristics of the individuals and businesses using DCEP. Doing so will help the government identify money laundering, tax evasion, and terrorist financing. It will, of course, also permit a higher degree and quality of state surveillance of Chinese citizens and citizens of any other country that may use it. Since the Chinese government will be the first to launch a global digital currency, it will gain a considerable lead over the world’s nations and provide it with the ability to perfect its surveillance capabilities in China and around the world for any countries that choose to adopt the DCEP. It will also help to internationalize the yuan and simultaneously create less dependence on the U.S. dollar. So, the Chinese government intends to stay a step ahead of the competition, enhance its ability to monitor its citizens, broaden its soft power, and increase China’s appeal to other countries, while countering the supremacy of the U.S. dollar in the process. By issuing the DCEP, the Chinese government hopes that demand for yuan reserves will follow, facilitating a digital version of the yuan as a global alternative to dollar reserves, especially in Belt and Road Initiative member nations seeking to modernize their financial sectors. It could also help internationalize China’s e-payment systems, which are not used outside of China. In the absence of an American cryptocurrency, which seems to be a long way off, doing so could in theory make the DCEP the cryptocurrency of choice among BRI (and other) countries. Such an alternative system may be particularly appealing for countries under U.S. sanctions, which may wish to avoid using the U.S. dollar entirely, or for countries or businesses engaged in trading, investment, or lending with Chinese companies. But the yuan remains not fully convertible and just 1% of international payments are made using the yuan. That could have a significant impact on the government’s implementation strategy. In addition, the Chinese government is attempting to centralize what is a decentralized technology by requiring that all “nodes” using the blockchain register with the government and provide information about their users. While the Chinese people are accustomed to having their government pry into, and try to control, their private lives, most of the world’s people want nothing of the sort. It remains to be seen just how broadly the DCEP will be adopted, or whether it will turn out to be a net positive for the nations that choose to adopt it, but having the first-mover advantage will surely serve Beijing well. Despite its apparent flaws, if it also helps to bring some of the world’s poorest nations with the least access to basic and global financial services on a par with the world’s developed nations in that regard, Beijing will have done much of the world’s population a great service in the process. [Read Full News]( The post [China Digital Currency Could Revolutionize Global Payments]( first appeared on [Feed Binary](. [Read Full Story]( ------------------ You Might Like     [Learn more about RevenueStripe...]( ------------------ [Bitcoin Could Go From 10K to 100K in 5 years as Crypto Becomes ‘Digital Version of Gold’ – Bloomberg Intelligence]( The price trajectory for bitcoin is up, according to Bloomberg Intelligence, which sees the popular cryptocurrency adding another zero to its price tag and trading at $100,000 in 2025. Bitcoin has had an impressive growth cycle in the last ten years, rising from $10 in 2011 to $1,000 in 2013 and to $10,000 in 2017. And even though Bloomberg Intelligence foresees a slightly slower growth path going forward, it does not rule out a $100,000 price tag in 2025. At the time of writing, bitcoin was trading at $10,582, down 2.08% on the day. [bitcoin digital version of gold] Bitcoin could continue doing what it has for most of its nascent existence, appreciating in price on the back of increasing adoption, but at a slower pace as we see it. The first-born crypto has had a tendency to add zeros to its price from around $10 in 2011. It took about four years to go from $1,000 to $10,000 in 2017, so doubling that time frame for maturation could get the price toward $100,000 in about five more years,” wrote Bloomberg Intelligence senior commodity strategist Mike McGlone. The driver behind this rally will be wider adoption, McGlone added while pointing to historical price charts for an explanation.Bitcoin is unique in that supply cannot be influenced by price, leaving adoption as a primary valuation metric,” he said in the October update. “Since initially reaching $10,000 in 2017, the benchmark crypto corrected about 70% and remains in an extended period of consolidation around that level. When Bitcoin first traded at $1,000 in 2013, it corrected about 80% and consolidated. About four years after initially reaching $1,000, it added a zero … Bitcoin has a history of adding zeros.” The demand fundamentals are looking positive for the cryptocurrency with expectations that new adoption measures will continue to boost prices higher. Also, bitcoin’s growing market cap will act as a demand accelerator for adopting the cryptocurrency, creating a path for higher prices. “The total value of gold is around $9 trillion vs. only about $190 billion for Bitcoin. For comparison, the benchmark crypto is about half the market cap of Tesla. A big difference is higher prices are increasing the supply of Tesla stock. Bitcoin supply is fixed and declining on an annual percentage basis,” explained McGlone. “At less than $200 billion, the Bitcoin market is too small for many large institutions, including central banks, to add the crypto as part of their holdings, but if the market cap of Bitcoin increases, it becomes increasingly like a digital version of gold.” Investors could see bitcoin rise to $14,000 before the end of this year, added McGlone. Bitcoin is ‘becoming more like gold’ Bitcoin is becoming more like gold, and this year points to an interesting correlation, noted McGlone.Bitcoin, like gold, is in transition to being a beneficiary of increasing stock market volatility, in our view,” he said. “Our chart depicts the highest Bitcoin-to-gold 12-month correlation in our database since 2010. The crypto 12-month measure vs. the S&P 500 is elevated, but has been higher.” [bitcoin stay like gold] Gold and bitcoin have been gaining alongside each other this year and are likely to continue to do so as the stock market slows down, the October update added. “The dichotomy of an unchanged U.S. stock market in 2020 nearing the end of 3Q vs. the advancing prices of gold and Bitcoin is a shift toward relative value that we see gaining endurance,” McGlone said. “If the rapidly advancing stock market of the past decade has run its course … more quantitative easing and rising debt-to-GDP levels are likely, supporting the stores of value.” [Read Full News]( The post [Bitcoin Could Go From 10K to 100K in 5 years as Crypto Becomes 'Digital Version of Gold' – Bloomberg Intelligence]( first appeared on [Feed Binary](. 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