Crypto Is Good Money, Bolivars Are Not According To Venezuelan Economist

It is not secret that cryptocurrency adoption in Venezuela is among the world’s highest.

This is due in part by the hyperinflation the economy of Venezuela is currently experiencing as well as the dollarization of the economy.

This was the opinion shared by a famous Venezuelan economist, professor Aaron Olmos who is a very passionate advocate of the benefits of cryptocurrencies and its underlying technology.

He describes the peculiar situation in Venezuela wherein dollars and cryptocurrencies are available but scarce, since no one wants to spend it because it is valuable, while on the other hand there is Bolivar that does not have value but it is the one that is recognized by the law.

He believes that the answer to the country’s economic issues could be introducing a double circulation system similar to that implemented by Brazil during the 90s rampant inflation where in the secondary currency would be cryptocurrencies.

Petro he laments is not part of the solution since the state issued crypto has a structure based on intervention, power, concentration and force usage.

CEO Of Binance Have No Problem With The Existence Of Facebook And JPM Coin

The CEO of one of the world’s biggest crypto exchange by transaction volume has recently revealed his thoughts on the upcoming cryptocurrencies from JP Morgan and Facebook.

According to Changpeng Zhao in a decentralized world anyone can do as they please so long as they don’t do harm on others.

Suggesting that the initiatives from the two behemoth organizations will eventually help spread awareness about cryptocurrencies.

He adds that no one is being forced to use the digital assets from the two aforementioned firms.

We are not yet sure what role Binance will play, if any, when the two digital assets comes out but one thing is for sure, Binance will be there if there would be a need for its services.

It seems that the exchange is not shying away from either project, if the need arises to interact with the said new coins is required you can be sure that the exchange will have a part on it or at least on interested in doing so.

2019 The Year Of The Blockchain

It seems that blockchain technology is now getting the attention and support it needed in Capitol Hills.

Legislators who attended the DC Blockchain summit in Washington D.C. quelled concerns of attendants by stating that they consider blockchain technology to thrive throughout in 2019.

This mark a softening of stance of people in Washington on cryptocurrencies, a departure from previous impression that the primary use case of crypto is for illicit activist

The co-chair for the Congressional Blockchain Cacaus , Tom emmer, states that it is time to separate hype from reality, he believes that the legislation will play a major role in making crypto a success and achieve mass adoption.

He adds that regulations should be made simple and precise that would help the nascent industry to grow and develop.

He believes that overly restrictive regulations might stifle the innovation and potential application of the technology.

Facebook Crypto Could Raise $19 Billion And Reinvigorate The Company

It has been reported that a Facebook issued cryptocurrency that could be used to facilitate cross-border payment and has Stablecoin properties could at least be worth $19 billion in revenue within the next two years.

This was the sentiment shared by technology analyst at Barclays, Ross Sandler.

Sandler based his prediction on the success of Google Play which has been reported to earn $6 USD per user.

He believes that if the Social Media giant can perform the same and leverage its 3 billion plus users worldwide then its annual revenue can jump by $19 billion USD.

He also states that the stock will gain renewed enthusiasm and confidence if Facebook will be able to find ways to profit away from advertising and other means that compromise user privacy.

Only time will reveal where the company plan to take their cryptocurrency in the future, however, it is exciting times for cryptocurrency community as main stream adoption might already be on its tipping point with companies as big as Facebook are already experimenting with the technology.

EToro Launches In The U.S.

According to news reports the global multi-asset trading platform with over 10 million registered users has launched its platform and crypto asset wallet in the United States of America.

The platform will be available in 32 states and U.S. territories and will have 13 digital assets available for trade with a plan to enable multi-asset trading on Q1 2020.

The platform of eToro allows users to track record, portfolio and trades with the community, allowing users to engage with each other trading ideas that are executed in real dollars.

The platform also includes educational resources to help users new to crypto and guide them on this new asset class and the risk profiles involved in it.

One of the main features of this social trading platform is its Copy Trader feature that allows users to allocate funds automatically trade proportionally to the portfolio of another user.

This will enable users to mimic the trades of more experienced traders in the crypto space.

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