Crypto will change the world map
Representations of the virtual currency Bitcoin and Ethereum stand on a motherboard in this picture illustration taken May 20, MOSCOW, Jan 28 Reuters - Russian authorities have drawn up a 'road map' that envisages restrictions on cryptocurrencies but not a complete ban on trading and mining as advocated by the central bank, a document seen by Reuters showed on Friday. Politicians have pressed for a change of tack by the central bank, which has proposed restricting cryptocurrency trading and energy-intesive mining on Russian territory because of concerns it may cause financial instability. President Vladimir Putin has asked those involved to find a consensusand a working group, including the finance, economy, digital and interior ministries, the FSB security service, and the central bank, has been working on such a plan.
We are searching data for your request:
Upon completion, a link will appear to access the found materials.
Content:
- How a Software Map of the Entire Planet Could Change the World Forever
- The rise of using cryptocurrency in business
- All the cryptocurrency merchants and ATMs of the world in one map.
- How Banks Can Succeed with Cryptocurrency
- Types of Cryptocurrency
- Cryptocurrency World Map – Search interest by country
How a Software Map of the Entire Planet Could Change the World Forever
The border is a national asset. Put simply, making cross-border trade more efficient offers a sizeable pay-off for governments and citizens. International trade is complex and typically plagued by inefficiency. Despite digital advances, most cross-border trade procedures remain largely paper-based and involve a multitude of stakeholders. Governments have a key role to play in reducing cross-border trade friction, yet government-to-government initiatives experience similar complexity.
Bilateral and multilateral agreements take considerable time to negotiate. Adding to this complexity is the various government agencies with interests at the border. Today, clearing a single shipment across a border can involve on average 15 agencies and sometimes as many as 40! At the heart of this complexity is an inherent lack of trust between buyers, sellers, supply chain participants, agencies and governments. In short, if stakeholders can collectively use blockchain to overcome the fundamental lack of trust, the trade ecosystem will become more efficient, secure and adaptable for the future.
That will be good news for traders, governments and citizens as it will drive revenue and boost trade. Two years ago, blockchain was still largely a buzzword. Rather than asking whether blockchain should be applied, the question is when and where.
The temptation is to lead with blockchain as the solution, and then go in search of a suitable problem. The reality is that the opposite approach generates better outcomes. Essentially, this is about using the right technology in the right way to solve the inherent problem and create flexibility for the future.
It is not about the widespread information technology IT -driven implementation of a single technology that will provide all the answers. The era of e-commerce has exposed many people to buying something from a person they have never met, nor are likely to meet.
How can you trust that the person on the other end of the transaction is who they say they are? Once a purchase is made, goods may not arrive, they may not be as specified, or may be otherwise deficient in quality or safety standards. A digital identity based on blockchain technology could eradicate such misgivings for both large trading companies and individual consumers.
By using blockchain, relevant entities in a trade supply chain would have a secure and verifiable identity, parts of which could be shared where required, based upon the traditional handshake principle — ultimately guaranteeing veracity.
Blockchain technology can also help to bridge the trust gap that often arises between trading countries, and help to revolutionize multilateral trading agreements. A benefit of blockchain is that trading related documentation does not need to physically travel with the goods or be exchanged between parties, which decreases the paper-trail, reduces the opportunity for trade fraud, and ultimately helps ease cross-border trade friction.
Blockchain can also play an important role in proving where goods have originated from. Establishing the origin of imported diamonds, for example, is essential to ensure that they are ethically sourced. Tracing the origins or provenance of goods is also critical to addressing global health, disease and contamination challenges in a timely way. It took more than two months to identify the original farm source of contaminated papayas which caused a salmonella outbreak in the United States US during In essence, a cross-border trade transaction is the same as a simple transaction, such as buying a loaf of bread, which involves the seller handing over the bread and the buyer the currency — a change of ownership and risk is effected.
But distance, time and a lack of trust make international trade far more complex. In the best-case scenario, the seller is paid immediately after the goods reach their destination. But it often takes much longer, and naturally trust plays an important role. For example, the arrival of goods at their destination should ideally trigger payment. As an illustration, look at the mandatory fines airlines operating in the EU are required to pay when delays exceed a certain number of hours.
Building this logic into a blockchain could automatically trigger a payment, rather than requiring the passenger to file an often time-consuming and laborious claim.
Using blockchain to manage asset transfer would also help in combatting cross-border trade finance fraud. Trade finance, financial instruments developed to assist the flow of goods between countries, is required notably to cover the risk and cost associated with goods being damaged, lost or stolen.
But the risk of trade finance fraud is unfortunately quite significant. Tampering with documents remains the most common type of fraud; either to legitimize a fraudulent transaction or to use bogus information to raise funding. Blockchain has the potential to tighten the net on trade finance fraud, and potentially result in huge cost-savings for the private sector. Not surprisingly, most commercial banks are exploring the use of blockchain for payments.
Hong Kong and Singapore are working on a cross-border blockchain solution to facilitate trade and combat trade finance fraud. Once up and running, the model can easily be scaled to more countries. As goods travel from origin to destination, they change hands frequently. This requires considerable processing and exchange of documents and data. A pathfinder ledger built on blockchain could act as a pipeline of goods information throughout their journey, building up an entire record of every supply chain movement of entities, goods, packages or containers.
Container integrity could be improved. Maintaining an accurate record of the goods in a container is crucial for addressing theft, which according to estimates from the Federal Bureau of Investigation FBI results in annual losses of approximately 30 billion US dollars in the US alone each year. In effect, these costs are passed on to consumers who pay a higher price for their goods. And addressing theft is a significant part of why the United Parcel Service UPS is investing in blockchain as a member of the Blockchain in Transport Alliance, a forum for the development of blockchain technology standards and education for the freight sector.
By using blockchain in combination with Internet of Things IoT technologies, relevant data such as temperature, location or whether a container has been opened and even for how long can be recorded and maintained with complete integrity. For food or perishable goods, keeping track of conditions such as temperature or humidity is critical. Transport companies need to know when and why a container is opened to preserve perishable goods and to ensure truck drivers do not transport illegal goods or people.
Data submission along the supply chain can be rationalized. For example, goods in transit today require the frequent and voluminous exchange of documents and data. These processes are duplicative and inefficient. By using blockchain, workflows and data can be truthfully and efficiently shared between stakeholders in the ecosystem.
Take, for example, the bill of lading, the document issued by a carrier or their agent to acknowledge receipt of cargo for shipment. Today, this document is usually submitted by the carrier, who manually collates the data from others in the supply chain. This is enormously time-consuming, leads to poor data quality, and raises questions about accountability.
Another example is the security declaration, provided in advance of the arrival of goods. Given access to relevant blockchains, Customs agencies can see exactly what is in each container and whether anything has been added to or removed from it during its journey.
This could help officials identify fraud and security threats early, and enable timely risk assessment and planning of controls. Such segmentation allows compliant shipments from trustworthy traders to pass the border smoothly, leaving border agencies to focus their resources, time and attention on questionable packages. Legitimate traders are usually very willing to share data, especially if doing so reduces friction at the border.
A pathfinder providing government access would offer an effective technical solution — and crucially without governments having to build their own solution. A much less explored, but no less important, area for blockchain is its potential to facilitate collaboration between governments or between government agencies. This technology could enable governments to share data and maintain accurate sight of the usage of certificates and licences, without revealing intelligence or sensitive information.
A Customs agency could flag a certain trader or case as malicious via the relevant blockchain, alerting other collaborating countries. Different government agencies perform risk analysis controls based on their own confidential risk rules.
Using blockchain to share the control decisions and results would benefit partners and contribute to a more holistic and accurate risk assessment. The main obstacles are reluctance to share data, political sensitivities, and the inability of different agencies to agree on a governance model. Here, too, blockchain has a clear role to play.
For example, take agricultural licences. These are usually granted by the Ministry of Agriculture and controlled by health authorities or veterinarians at points of entry. The corresponding import declaration is supervised by Customs, and its approval might require writing-off the permitted quantity specified by the certificate.
Storing this information on a blockchain provides an integral view of usage, allowing for accurate write-off and avoiding double usage. Political sensitivities mean that, in practice, countries deploy their own data and exchange messages via an agreed-upon protocol. One example is the temporary admission of goods, whereby goods, such as paintings for an exhibition, enter countries on a duty free basis regulated by multilateral agreements. Using a blockchain to track their movements and share information would eradicate the need for paper-based processes and costly data exchange.
Rather than taking a technology-first approach to blockchain adoption, Customs agencies and governments should identify specific problems that this technology can help them to solve, such as fraud or inefficiency. For many agencies a first-step may be the undertaking of a pilot project to gauge effectiveness and to better understand the potential costs of rolling-out the technology across their organization. Ultimately, it all comes down to trust.
More information Jorien Kerstens jorien. Back to Edition Contents. It all boils down to trust. Blockchain: a new perspective for cross-border trade. Proof of identity — what you see is what you get. Why governments and Customs continue to need their own classification system for goods Addressing challenges related to Customs controls in free zones. Tags: Technology Digital Customs. Copyright World Customs Organization.
The rise of using cryptocurrency in business
Crypto Rocket Launch Plus. Welcome to CoinMarketCap. This site was founded in May by Brandon Chez to provide up-to-date cryptocurrency prices, charts and data about the emerging cryptocurrency markets. Since then, the world of blockchain and cryptocurrency has grown exponentially and we are very proud to have grown with it. We take our data very seriously and we do not change our data to fit any narrative: we stand for accurately, timely and unbiased information.
All the cryptocurrency merchants and ATMs of the world in one map.
It is the second year the blockchain data firm has released its Global Crypto Adoption Index, which ranks countries according to metrics such as peer-to-peer exchange trading volume, rather than gross transaction volume, which typically favors developed nations with high levels of professional and institutional crypto buy-in. Chainalysis said the purpose of the index is to capture crypto adoption by "ordinary people" and to "focus on use cases related to transactions and individual saving, rather than trading and speculation. Meanwhile, the United States slipped from sixth to eighth place, and China, which cracked down on crypto this spring, dropped from fourth to 13th. For one, countries such as Kenya, Nigeria, Vietnam and Venezuela have huge transaction volumes on peer-to-peer, or P2P, platforms when adjusted for purchasing power parity per capita and the internet-using population. Chainalysis reports that many residents use P2P cryptocurrency exchanges as their primary on-ramp into cryptocurrency, often because they don't have access to centralized exchanges. The report also says many residents of these countries turn to cryptocurrency to preserve their savings in the face of currency devaluation, as well as to send and receive remittances and carry out business transactions. With rising rates and inflation, investors are split on how to value bitcoin. Stocks that are inflation plays are moving closely with cryptocurrency, Trivariate Research found. Matt Ahlborg, a peer-to-peer data analyst, told CNBC that Vietnam is one of the top markets for Bitrefill, a company that helps customers live on cryptocurrency by buying gift cards using bitcoin.
How Banks Can Succeed with Cryptocurrency
Before you start spending crypto, you have to get some—but what if there's no Bitcoin ATM nearby? Figuring out how to buy Bitcoin safely online can be complex, and finding the best crypto exchange rates can be time consuming. Invity, our sister project, knows this, so they've handpicked and brought together only the most trustworthy partners in the digital currency market. This means you'll find the best offers for buying , exchanging , and investing in cryptocurrencies—all in one place. Then complete your trades in a smooth, minimalist interface that makes buying easy, whether it's your first or one hundred and first crypto purchase.
Types of Cryptocurrency
Ethereum has the potential to be bigger than Bitcoin and become the dominant crypto asset, according to a renowned market analyst. Bitcoin is a decentralised currency and Ethereum is a platform to build decentralised apps that make use of smart contracts. Although often seen as worlds apart, the fortunes of both Bitcoin and Ethereum have often run parallel as they reflect similar patterns of ebb and flow along the horizontal graphs that illuminate the puzzled faces of many traders across the globe. Lately, however, ETH has been planting its boots firmly on its own path. With far more activity and increasing numbers of users projected for Ethereum, thanks to the number of applications being built on it, I expect it will cause the overall network value to increase, and, in turn, the price of Ether could increase at a quicker pace.
Cryptocurrency World Map – Search interest by country
RippleNet makes it easier than it's ever been to run a high-performance payments business. Together with our customers, we are building a more inclusive financial system where more people and SMEs have access to better financial services. Our innovation is always customer led. Ripple helps us directly address the issues of speed and transparency around international payments raised by our customers and make sending money abroad better. CBDCS will play a critical role in the new, modern global financial infrastructure blockchain technologies will undoubtedly underpin.
Bitcoin pioneered decentralized infrastructure and Ethereum brought programmability. But earlier proof-of-work blockchains consume massive amounts of energy and process transactions slowly in order to achieve acceptable levels of security. Heavy bandwidth consumption by these technologies leads to expensive fees, even for a simple cryptocurrency transaction. The Hedera proof-of-stake public network, powered by hashgraph consensus, achieves the highest-grade of security possible ABFT , with blazing-fast transaction speeds and incredibly low bandwidth consumption.
Help us translate the latest version. To bring Ethereum into the mainstream and serve all of humanity, we have to make Ethereum more scalable, secure, and sustainable. Ethereum needs to support s of transactions per second, to make applications faster and cheaper to use. Ethereum needs to be more secure.
This article was originally posted on The Oxford Business Review. Read the original article here. The key hardware ingredient is a spinning laser fixed to the roof, called lidar, which provides the car with a pair of eyes to see the world. Lidar works by sending out beams of light and measuring the time it takes to bounce off objects back to the source. They will be crucial to the development of a wide range of emerging technologies including autonomous driving, drone delivery, robotics, and a fast-approaching future filled with augmented reality.
Cryptocurrencies often tend to maintain a publically accessible ledger of all transactions. This open nature of the transactional ledger allows us to gain macroeconomic insight into the USD 1 Trillion crypto economy. We specifically focus on the aspect of wealth distribution within these cryptocurrencies as understanding wealth concentration allows us to highlight potential information security implications associated with wealth concentration.
Bravo, what a phrase ..., the admirable thought
A gorgeous thing!