Dubai Welcomes Crypto in “Crypto Valley”

blockchain Davos

Davos 2020 went beyond traditional business talk this year to include several announcements concerning blockchain and cryptocurrency. The DMCC , a Dubai government entity, used the Davos meeting as an opportunity to announce the creation of a “crypto valley” within the city’s business district.

This “crypto valley” will be strategic in attracting innovators of blockchain technology and forward thinkers in the world of cryptocurrency. While some countries including the United States seem to be intent on more regulation for crypto and increased taxation, the “crypto valley” of Dubai promises no personal or corporate income tax.
Switzerland has projected a similar welcoming business atmosphere for future blockchain startups.

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Paypal Halts Payment Support for Pornhub

paypal bans

Paypal, the well known payment processor has announced that they will no longer support payments for Pornhub. Due to unspecified violations, Paypal will no longer do business with the site. The site plans to now accept payments in cryptocurrency. They will accept payments in the stablecoin, Tether.
The Tronlink wallet is currently available on both Google Play and Apple, which makes it easy to download and accept crypto payments.
Paypal has made news during the past few years by banning people and businesses from their once irreplaceable payment platform. As cryptocurrency becomes more common place, Paypal will have less power in the marketplace. We are just beginning to see the freedom of decentralization that blockchain technology offers.

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Binance May Limit Trading in Japan

Binance Japan

Binance has announced that they will limit access to traders in Japan. Binance was once headquartered in Japan , but moved their operations to Malta due to Japanese regulators. Binance also had headquarters in China before leaving for Japan.

The exchange has been forced to work around a constant change in regulations in order to operate in the ever changing cryptocurrency world. Binance assured their Japanese traders that the new regulations would be rolled out gradually in order to give traders time to adjust to the limited access and increased regulation.

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Square Files Cryptocurrency Payment Patent

cryptopatents

The US Patent office issued a new patent on Tuesday which may attract more consumers to cryptocurrency. Square, the popular payment provider was issued a patent which will make crypto to fiat transactions without some of the negative aspects currently associated with these types of transactions. In essence, the technology will enable a consumer to pay in any currency they choose and the merchant will be paid in the asset they prefer. For instance, I will be able to use the payment system to pay with Bitcoin and the merchant can choose to accept that payment in dollars.

The benefit of the new technology is that the transactions will occur instantly so that the waiting time for both consumers and merchants is zero. This technology will eliminate some of the problems of using cryptocurrency including volatile crypto prices and slow transaction times.

As this type of technology becomes more available, I think we will see a huge surge in the number of people actually using crypto on a daily basis.

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Steem Year To Date Chart

Steemprice

Steem’s year to date chart shows Steem price stabilizing around 17 cents. The recent 40% rise in price inspired some profit takers to sell as the price continued to rise, but for the most part long time holders of Steem appear to be in a “Hodl” mood. Perhaps the vision of Smart Media Tokens on the horizon has inspired more investors to take a second look at the Steem blockchain.

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EOS Remains Most Active Cryptocurrency

EOS blockchain activity

The blockchain activity report measures the most active blockchain over a 7 day period.
EOS remains the most active with over 54 million transactions in a 24 hour period. TLOS rates number 2 with one million seven hundred thousand thransactions. XLM is number three, KIN ranks number 4, and IOST ranks number 3.
Steem ranks number 6 with 844,000 transactions. 

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Did Peter Schiff Just Forget His Bitcoin Wallet Password?

Bitcoinpassword

Saying Peter Schiff is no fan of Bitcoin is a bit of an understatement. Peter has made his disdain for Bitcoin known on Twitter and other social media venues. As if the “Bitcoin gods” have heard, Peter is now having a problem with his Bitcoin Wallet password. He swears he remembers the password and that the fault falls entirely on the “technology of Bitcoin”.

Twitter users were ridiculing Schiff for admitting his password was one he used on many other sites and Twitter continued to revel in his misfortune. The phrase “OK Boomer” seemed to sum up the attitude of most crypto enthusiast who took to Twitter to defend Bitcoin.

Like an Angel from above, the folks from Blockchain.com (the Wallet Schiff was using) used Twitter to inform Mr. Schiff that his funds were intact and that they would be contacting him via private message to remedy the situation.

In all fairness, we can all relate to Schiff. Who has not had a moment of terror over forgotten passwords or misplaced keys? Adding a note of irony, Schiff may have just provided Blockchain.com with the best advertising money can buy.

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Steem Price Jumps Over 40% in 24 Hours

Yesterday I was posting about the price of Steem jumping over 4 %. At One point today the price of Steem had risen a little over 40%. At the time of this post Steem continues to be up over 38%.

Steem price jumps 40%

Price of Steem Jumps

The Steem blockchain is in the process of testing Smart Media Tokens. The testing started a few months ago and should continue through the Spring. If you are on Steemit, you already know the potential for Smart Media Tokens. In simple terms, Smart Media Tokens will allow companies to tokenize their own websites, projects, and companies almost instantly. Companies my create their own token which will run on the Steem blockchain. These Smart media tokens may be customized by participating companies while utilizing one of the most active blockchains in the world, the Steem blockchain.

Steem price

Steem Up Over 40%

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