Tag Archive: War on Cash

  • Blockchain Technology, News, News teaser

    Australia Criminalizes Cash Over $10K While Funding Blockchain Research

    Australia will crack down on cash freedom while dedicating over half a million dollars to blockchain research in its 2018-19 budget. Blockchain for Government Services The budget, which the country’s government unveiled May 8th, apportions $700,000 AUD ($521,000 USD) to the Digital Transformation Agency (DTA) to look at how blockchain technology can improve government services. The budget document reads: The Government will provide $0.7 million in 2018-19 for the Digital Transformation Agency to investigate areas

    · May 9, 2018 · 7:00 pm
  • ECB European Central Bank Bitcoin, Emerging Markets, News, News teaser

    European Central Bank: Bitcoin ‘Not The Answer To Cashless Society’

    The European Central Bank (ECB) claimed Bitcoin is “not the answer to a cashless society” March 13 while also casting doubt on bank-issued digital currencies. Bitcoin ‘Spotlights System Failures’ In an “opinion piece” co-authored by Benoît Cœuré, ECB board member and chair of the Bank for International Settlements’ (BIS) Committee on Payments and Market Infrastructures, as well as chair of the BIS Markets Committee Jacqueline Loh, the bank argues Bitcoin represents a “challenge” due to

    · March 13, 2018 · 1:30 pm
  • Cashless war on cash Bitcoin, Bitcoin Education, Bitcoin Technology, Op-Ed

    Bitcoin Will Be the Real Winner in the War on Cash

    Bitcoin looks to become the biggest beneficiary of increasing money digitization as countries, such as Sweden, spearhead the so-called ‘war on cash.’ But First, What is ‘Cash’? By definition, cash is legal tender or coins that can be used to exchange goods, debt, or services, according to Investopedia. The main property of cash is that besides being physically exchanged at the point of sale for goods or services, it also offers some degree of privacy

    · February 20, 2018 · 3:30 pm
  • eKrona Bitcoin, Bitcoin Price, News, News teaser

    Swedish Public Rejects World’s First e-Krona Digital Currency

    Bitcoin is king in 2016, but Sweden’s unpopular plan to create its pioneering digital currency ‘eKrona’ shows public understanding still has a long way to go. Two-Thirds Know Bitcoin, 10% Want eKrona Central Bank plans in November last year to launch the so-called eKrona in the country would have made Sweden the world’s first country to launch a national digital currency. When the public was asked about it, however, their response was far from enthusiastic.

    · January 2, 2017 · 8:00 am
  • SIMS Bitcoin, Bitcoin Acceptance, Bitcoin Investment, Bitcoin Price, News, News teaser

    Bitcoin is Soaring to $1,000: Why This Time, It’s Different

    Bitcoin’s amazing rise continues to break records, setting an all-time high market cap and reaching for the highest price since 2013. However, this familiar bull-run is different from the one experienced 3 years ago. Here’s why… ‘This Time, It’s Different’ One of the most basic and well-known premises of technical analysis trading is that history tends to repeat itself or as Sir John Templeton said: “The four most dangerous words in investing are: ‘this time,

    · December 30, 2016 · 11:00 am
  • Amsterdam FinTech, News, Technology

    Amsterdam Conscripts Homeless in the War on Cash

    Amsterdam has introduced the “Contactless Payment Jackets” for beggars, an electronic payment system that allows people to donate to the homeless. Amsterdam Fully Embracing Digital Payments Although the recent demonetization policies are mostly felt in developing countries where the economy is predominantly cash-based, developed countries are actually spearheading the movement. Most recently, the Netherlands have joined the ranks of developed countries like Sweden and Denmark in the war on cash. As a consequence of a society that relies heavily on

    · December 29, 2016 · 3:00 pm
  • rupee Bitcoin, Emerging Markets, News, News teaser

    India Will Now Jail Junked Rupee Holders for 4 Years

    As the deadline for handing in India’s decommissioned 500 and 1,000 rupee notes arrives, the government has signed a law jailing those who continue holding them. 4 Years’ Jail for Possessing Worthless Rupee Notes The Indian Cabinet has cleared a so-called ordinance, transferring liability to consumers and away from banks and authorities after a final cut-off point of March 31. Consumers could thereafter land themselves in jail for four years. Regular consumers only have until tomorrow

    · December 29, 2016 · 8:30 am
  • Paychecks Bitcoin, Bitcoin Acceptance, Companies, FinTech, News, News teaser, Services

    Bitcoin is Now Helping Indians Receive Bigger Paychecks from Abroad

    The Bitcoin Blockchain has enabled millions of workers in India to receive bigger paychecks in Indian Rupees through a new partnership between Bitwage and Unocoin.  Less Waiting, Bigger Paychecks for Indians Indian Bitcoin exchange Unocoin has partnered with Bitwage in an effort to improve wages for international workers. Leveraging bitcoin transactions, Bitwage is able to skip currency exchange and international transaction fees. It transfers wages directly to workers in India, who now have the option of being paid

    · December 22, 2016 · 2:30 am
  • Pakistan Bitcoin, Bitcoin Acceptance, Bitcoin Regulation, News, News teaser

    Bitcoin Buying Up 300% in Pakistan, Demonetization’s Next Domino

    Pakistan has announced plans to remove its largest currency notes from circulation as Bitcoin buying has surged fourfold in the country. Pakistan Joins War on Cash The demonetization policies that have been recently implemented in countries like India and Venezuela are now spreading across the globe. More and more countries are attempting to eliminate cash transactions in what is being called an effort to reduce corruption, money laundering and black market economy. This time, Pakistan is joining the

    · December 20, 2016 · 11:00 am
  • Wars Bitcoin, Emerging Markets, News, News teaser

    Global Currency Wars Are Creating Bitcoin’s ‘Killer App’

    There are more than just bitcoin price spikes and capital gains that stemmed from the ongoing currency wars. Bitcoin and its users are, in fact, on a bigger mission: providing refuge for currency war hostages. ‘Bitcoin Isn’t Just An Economic System’ The trajectory of bitcoin has changed over the years. In the beginning, people were curious about Bitcoin’s real-life applications. And the common answers from thought leaders would be in the area of remittance services and

    · December 14, 2016 · 10:00 pm
  • Bills Bitcoin, Emerging Markets, News, News teaser

    Unholy Trinity: Australia Joins in Cash Crunch, $100 Bills Could Go

    Australia is mulling the idea of decommissioning its highest value banknote in what appears to be a global trend for removing physical bills. Minister: Priority ‘Closing Down Loopholes’ As was previously reported, the country’s banks are already arguing for removal of larger notes, and making calls for a cashless economy. Speaking in a radio interview Wednesday, Australian revenue and financial services minister Kelly O’Dwyer said the move would come as part of a “crackdown on the black

    · December 14, 2016 · 6:10 am
  • Venezuela Bitcoin, Legislation, News, News teaser

    Bitcoin Liftoff? Now Venezuela is Ditching Big Bills to ‘Fight Mafia’

    Venezuela has announced the sudden withdrawal of its highest-value banknote, replacing it with coins ahead of a sudden major currency restructure. President to Mafia: ‘Stay Outside With Your Scam’ The country’s bolivar fuerte, introduced in 2008 and since almost crushed under inflation, currently comes in denominations of up to 100 units. The 100 bolivar note, worth around $0.02 USD on the black market, will be removed Wednesday, as Venezuelans have just 10 days to hand them

    · December 12, 2016 · 5:05 am
  • Record Bitcoin, Companies, News, News teaser

    India: ‘Record’ Bitcoin Trading, Users in Surging Market

    India’s Bitcoin surge continues with exchanges reporting record trading and new user numbers for November and December. ‘Another Record Month’ for Indian Exchanges India’s Unocoin exchange announced the record figures on its Twitter page late last week, while also releasing an all-in-one trading app to capitalize on the boom. November was yet another record month for @Unocoin in terms of number of new users and total #bitcoin trade volume. #IndiaBitcoin — Unocoin (@Unocoin) December 8,

    · December 12, 2016 · 2:10 am
  • biometric FinTech, News, News teaser

    War on Privacy: India Wants 400M Biometric Payments a Day

    India is touting biometric security as the next step in payments, shunning cash and cards in a bid to make the economy secure and free of corruption. Also read: SAXO BANK PREDICTS ‘OUTRAGEOUS’ BITCOIN PRICE OF $2,100 NEXT YEAR India Gov’t: Biometrics Future Of Payments The Unique Identification Authority of India (UIDAI), which is working on issuing every Indian citizen with a 12-digit ID called Aadhaar, should form the basis for transactions together with mobile-based

    · December 7, 2016 · 10:00 am
  • Bitcoinist payday Bitcoin, News, News teaser

    India’s Banks Buckle on First Payday Since Demonetization

    A shortage of new notes in India following sudden currency reforms means workers’ first payday comes amid a banking meltdown. Also read: BITLENDING CLUB SHUTS DOWN DUE TO ‘REGULATORY PRESSURE’ PAYDAY WOES, RUPEE LOWS On the evening of November 8, 2016, Indian Prime Minister Narendra Modi made the shock announcement that all 500 and 1000 rupee notes would immediately cease to be legal tender. For the majority of the Indian workforce, today is their first payday

    · December 1, 2016 · 12:00 pm
  • Bitcoin Price Bitcoin, Bitcoin Price

    Onward and Upward: Bulls Still Charging as Bitcoin Price Touches $750

    The bitcoin price is approaching the highs it hit in June, sitting around the $744 USD mark at press time. Will it break through 2016’s previous record? Also read: New $1.2 Million Grant Seeks Bitcoin Protocol Diversity On Chinese markets like BTCC and Huobi, the dollar-equivalent is over $10 higher than the USD markets, suggesting that country is once again driving bitcoin value. The bull run has stumbled a few times on the way to

    · November 19, 2016 · 5:00 am