Starbucks Finally Delving Into Crypto

It has been reported that the most recognizable coffeehouse chain, Starbucks has finally confirmed that it is looking into crypto and plans to integrate its operations using the same innovative technology that underpins cryptocurrencies: blockchain technology.

It was reported that Startbucks and Microsoft has stuck a deal where the former will use the latter’s blockchain technology implementation to track its beans with the said technology.

The company’s interest in blockchain technology and cryptocurrencies dates back in January 18, 2018 when its executive chairman and former CEO Howard Schultz discussed the subject during the company’s Q1 2018.

Schultz was skeptical of Bitcoin at that time but has recognized that a digital currency that is powered by the blockchain will exist in the future and would have to be legitimized by a brick-and-mortal environment for mass adoption.

Aside from implementing blockchain technology into its operations particularly in its supply chain system it was reported that customers will able to pay with Bitcoins using an application, however representative from the company was quick to point out that they are not accepting Bitcoins directly but an application will be used to convert cryptos into fiat which the company will readily accept.

Binance Returning To Normal Operations On Tuesday

It has been several days since one of the most recognizable cryptocurrency exchange has been hack and traders has been awaiting announcement for the resumption of its operations.

Since the attack the whole cryptocurrency space has seen a resurgence of interest where bulls now dominate the market and traders who have their crypto locked-up in Binance are eagerly waiting updates of the resumption of normal operations of Binance.

According to its CEO, Changpeng Zhao (CZ) his team has been making progress and has been working through the weekend and has made some significant overhauls to their systems with a large number of advanced security features added.

CZ also revealed that they are planning to resume normal operations by Tuesday depending on how the testing goes and will require that all trading operations be halted.

Halting of withdrawals and deposits on Binance was a result of Hackers being able to withdraw around 7000 BTC or 40 Million USD at the time of the attack, this will give the Binance team ample time to conduct an investigation and upgrade their security systems.

New Venmo lIke Application Launches In Venezuela

According to new reports online the Stablecoin that is backed by major US cryptocurrency exchange Coinbase will be launching a crypto-fiat payments app in Venezuela and Angola.

This was announced during a press released last May 12, 2019 which also announced that Reserve it will be listing its separate utility token, Reserve Rights (RSR) on major crypto exchange Huobi Global’s Token Sale Platform, Houbi Prime.

As per their announcement the mobile application will be available in the coming weeks and will enable people and business to switch back and forth from their local fiat currency to the firm’s Stablecoin, the Reserve Dollar (RSD) which is pegged to the US currency.

The co-founder and CEO of Reserve, Nevin Freeman, states that the primary reason of launching the Stablecoin in Venezuela despite apprehensions from some of its investors is the fact that the country is currently suffering hyperinflation, the exact problem that Reserve was built to fix

Aside from Venezuela the company also landed a partnership with 7Mobile Africa, the largest mobile importer in the country which will be pre-loading the mobile app on all its shipped smartphones.

New Crypto ETF Application Submitted To U.S. SEC

The whole crypto space has been waiting for the approval of VanEck’s bitcoin ETF which has in the past been delayed and ultimately withdrawn before its refilling just a couple of days later which effectively resets the review process.

The approval of VanEck’s bitcoin ETF is eagerly anticipated in the crypto space as it is widely seen as a possible catalyst to reverse the fortunes of Bitcoin which has seen persisting market downtrend since the beginning of early 2018.

While the market waits another firm has submitted a crypto ETF, the United States Commodity Funds (USCF) LLC has submitted a proposal for a crypto ETF, dubbed as the USCF Crescent Crypto Index whih is a market cap weighted portfolio of Bitcon (BTC) and Ethereum (ETH).

A majority of people agree that a crypto ETF might help push Bitcoin’s growth and adoption further but some critics are argues that investments vehicles like this might not be good for the new asset class and just reduce it to just another speculative asset.

Bitcoin pundits like Andreas Antonopolous argues that too much focus on just the investment perspective and the true value of Bitcoin which gives individuals the power to conduct and verify their own transaction will reduce its value to mere speculation.

New Partnership Enables Easier Sending and Receiving Bitcoins without Internet

Blockstream Satellite and goTenna has recently partnered together which will enable people around the world to transact with Bitcoin without the use of internet connection.

The partnership was announced during the Magical Crypto Conference in New York which will help onboard those without direct internet connections.

Blockstream Satellite’s network will be used to download a full bitcoin node and will be connected to goTenna’s technology which enables users to connect with others via a mesh network when they are within a mile of each other.
The move is part of a larger effort to make it easier for users to send offline transactions when needed.

There have been other efforts to enable internet-less crypto transactions in the past, these includes Dash Text and Coin Text which enable users to send and receive cryptocurrency through SMS messages.

Headlines for the world of Cryptocurrencies - May 12, 2019

Next Crypto-Enabled HTC Phone Will Run A Full Bitcoin Node / Bitcoin Treasure Hunt Attacts 60,000 Digital Sleuths And New Investors / Co-Founders Vitalik Buterin and Joseph Lubin Donate 1,000 ETH For ETH Development / Ethereum Foundation Has $30 Million Funds For Development / Barclays and Royal Bank Of Scotland Successfully Tested Blockchain Solution For Real Estate Transactions

Headlines for the world of Cryptocurrencies - May 11, 2019

Traffic On The Of The World’s Most Famous Exchanges Spikes / Blockchain Industry Needs Better Lobbying According To New York State Assemblyman / Funding Release By Ethereum Foundation and New Devcon Venue / Mark Yusko’s $400,000 Target Bitcoin Price / Hester Pierce Says Crypto Industry Hindered By Regulatory Delays

Headlines for the world of Cryptocurrencies - May 10, 2019

Hackers Mixing BTC’s Stolen From Binance / Facebook Removes Crypto Ad Ban While Intensifying Its Own Blockchain Initiative / Indian Crypto Exchange Opens Office In Australia / Bitfinex Will Be Conducting Its Own Initial Exchange Offering (IEO) / Raiffeisen Joins R3 Corda Global Network