But as the technology has advanced and its ecosystem has developed, it has begun to transition from niche to the mainstream. Cryptocurrency is a decentralized peer-to-peer trading tool that is open to all, regardless of geographic location or position in society. It offers its users the ability to bypass financial intermediaries, such as banks, and to retain privacy in the form of anonymous transactions. These very benefits, however, create problems for regulators: removing intermediaries means less control while anonymity can help foster illicit financial funding. Recognizing the growing use of crypto, and the loopholes it can create for bad actors, regulators have stepped up measures for virtual currency providers over recent years, largely in the form of Know Your Customer KYC related processes.
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- How to Find Your Next Cryptocurrency Investment
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How to Find Your Next Cryptocurrency Investment
Steven Jones, the compiler of the Seafarers Happiness Index, writes for Splash today on the potential for a cryptocurrency solution for crews around the world. Having finally seen the latest Seafarers Happiness Index report over the line, I was sitting down with a coffee and scrolling through Splash, as one does.
Two articles really caught my attention. Both articles threw the gauntlet down to come up with other ideas, innovations and solutions. Manish grouped his thoughts into words beginning with C, covid, connectivity, collaboration and carbon. It was while reading this another couple of C-words leapt to mind, good ones I hasten to add…crypto and crew! It got me thinking of the potential for a cryptocurrency solution for the maritime industry, more especially seafarers. How, how, how though could this be made to work for the wellbeing and welfare of crews?
I drank more coffee and thought harder. What is one of the biggest problems facing seafarers? Not the shorter-term pains such as shore leave and crew changes, but the most fundamentally appalling and dreadful problem? It has to be abandonment. The idea that a seafarer can work for months, perhaps longer and then not receive what is rightfully theirs, and then be ghosted by their employer is a stain on the name of shipping.
That they can further be harassed, threatened and compelled to stay onboard discarded vessels in squalid, degrading and unsafe conditions is further evidence that change is needed. So, what can crypto do? What could that do to remove the likelihood of no pay, or of being lied to and left for a fool?
It seems there is a grain of an idea and mechanism in there. Perhaps, just perhaps this was the missing link in bringing transparency to seafarers and their relationship with shipowners?
The good would always release funds, and with the blockchain fully appraised of the status, then there would be no red flags flying for them. Where seafarer wallets do not receive what is owed…claxon, alarm, big black marks. At that point in my thinking process, having added a biscuit to my coffee a sugar rush of ideas exploded.
With overall seafarer happiness falling, a key issue to emerge in the latest report is the two-headed hydra of lack of respect and lack of reward. Respondents spoke of their annoyance at seeing shipping companies making record, multibillion-dollar profits, and yet none or very little is seen to trickle to the crew. What though, if a new shipping related cryptocurrency could be created which could sit in this seafarer crypto escrow and then…every month, week or whatever could find its way into their wallet?
With a lower limit of exchange always meaning that ILO minimum rates are met, but with a little cream on top if things are going well. Could this be the answer to many problems? I add a question because while I sense the tantalising tingle of a solution, it is obviously very far from any more than a vision. If it could be brought to fruition could it make some of the fundamental changes that would make not only life better for seafarers, but could it also give a real, workable, positive use for the blockchain?
Again more questions. I have a sense that other areas could be brought into this seafarer crypto escrow a CrewCrow, as it were , things which would bring quality to the fore. So, tying in vessel grades and standards, connectivity performance, seafarer happiness etc, etc. Whatever can be fed to make the algorithm more powerful and effective.
Then with all the issues that seafarers face could come together in a reporting mechanism, one that shows they have been paid. This could then be overseen by their home state, or certainly by the flag administration of the vessel.
There are only 62, odd vessels and 1. I will stop there, my coffee cold, my tin emptied of Danish cookies, my brain frazzled by the over thinking. If you would, then it seems yet another C-word could be thrown in the mix, that of community. In the meantime you can read more about the Seafarers Happiness Index at www. I am not a seafarer, but I know technology. I have lived in many countries and traveled extensively. The coffee and cookies were worth it. The idea is great. The implementation is critical.
The straightforward solution is connecting the seas for our seafarers to manage at ease with protection. Your email address will not be published. Don't have an account? Splash January 28, 2 4 minutes read. Read Next Dry Cargo January 28, Operations January 28, Ports and Logistics January 28, Environment January 27, Operations January 27, January 28, January 27, Leave a Reply Cancel reply Your email address will not be published.
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Crypto Aero Wholefood Horse Feed
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Column: Ukraine's rising role in grain exports complicates impact of crisis
The firm said the sharp rise in money laundering activity in was not surprising, given the significant growth of both legitimate and illegal crypto activity last year. Money laundering refers to that process of disguising the origin of illegally obtained money by transferring it to legitimate businesses. Mining pools, high-risk exchanges, and mixers also saw substantial increases in value received from illicit addresses, the report said. Mixers typically combine potentially identifiable or tainted cryptocurrency funds with others, so as to conceal the trail to the fund's original source. Is pseudonymity really viable in crypto, asks a veteran Canadian bitcoiner following this week's Wonderland scandal. Whether you're bullish on Bitcoin or not, I think the use cases for this digital currency have proven to be limited over the last few years. The dominant NFT marketplace remains stubbornly hands-off in its approach to controversy. The fight for the attention span of short video viewers is heating up in China, and it is turning into a slugfest between WeChat, the ubiquitous super app operated by Tencent Holdings, Douyin, the domestic version of TikTok owned by ByteDance, and Hong Kong-listed Kuaishou Technology. When WeChat gave animation artists Zhang Xiaoying and Qin Yun an opportunity to try out the platform's short video feature Channels in the summer of , the duo were quick to jump in even though videos of Yutaixi. The cloud giant is looking at services it can offer directly to blockchain developers.
'It's like the Wild West': Kentucky No. 2 in nation for new cryptocurrency mining operations
What do you think of when you read this word: «money»? Perhaps you have thoughts of a pleasant situation, such as an evening in an elegant restaurant or a holiday on a beach paradise. But not only that. Quite possibly, you will also have visualised the image of a banknote, some coins or a credit card.
What Makes Cryptocurrency Go Up or Down?
You may wonder what makes cryptocurrency valuable, given that it's notoriously volatile. Smaller cryptocurrencies can have even wider price swings. After reading this article, you'll have a better understanding of what makes cryptocurrency valuable and why the price might swing violently within a single day. Cryptocurrencies usually aren't governed or backed by any central authority. Government backing can improve faith in the value of a currency among consumers, and it provides a big spender and collector of the currency.
A Bitcoin Boom Fueled by Cheap Power, Empty Plants and Few Rules
Blockchain-based agriculture trading platform Cerealia has announced its commercial launch, Bloomberg reports Tuesday. The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group , which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights , which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Cryptocurrency Could Become an Important Funding Source for Non-Profits
Since , Kopernik has received funding from a wide range of sources in order to deliver our mission to find what works and reduce poverty in the last mile. Our funding sources have become more diverse over the years and we receive grants from foundations and governments, and donations from individuals and corporations. Until recently, we had not received any cryptocurrency donations.
The advent of Bitcoin and its stellar rise over the last few years has investors pouring their money into cryptocurrencies by the millions. Cryptocurrencies and blockchain projects achieved impressive returns, as well as dramatic declines. Now, others who seek to emulate the returns of their peers are looking for the next big thing in the market. With the right recipe, a cryptocurrency can achieve sustainable growth and keep it once the bubble pops.
Here's how much money you'd have if you invested $1,000 in 4 of the top cryptocurrencies this year
The scheme was launched in March It may be recalled that India has given grants of around three billion USD for various reconstruction projects in Afghanistan over the last 20 years besides training a variety of Afghan civil servants and armed forces personnel. Edible oil prices, though, have fallen by Rs 10 per litre in last two months, but there is no possibility of a further reduction in prices in the near term as international prices are ruling high. The decision comes amid uncertainty about the size, quality and time of arrival of the standing kharif crop due to erratic weather. Also, trade houses were concerned about the shortage of containers and vessels, which has increased the sailing time of cargo.
The delay in introduction of Cryptocurrency and Regulation of Official Digital Currency Bill, is being seen by the crypto community as a welcome sign. They believe the Government is finally taking cryptocurrency seriously and is not in a hurry to introduce harsh regulations. This committee not only recommended a blanket ban on all cryptocurrencies but also suggested the Government to criminalize carrying on any activity connected with cryptocurrencies in India. However, since then, cryptocurrencies have continued to thrive in the country.