Ror Ver: Crypto Future is Brighter than Ever

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Ror Ver: Crypto Future is Brighter than Ever

Speaking in an interview with Bloomberg Daybreak, Roger Ver, angel investor, early Bitcoin enthusiast, and Bitcoin Cash evangelist, said that he still as of a market being still in the red and it seems that it would be staying that way for a while.

Ror Ver: Crypto Future is Brighter than Ever

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Source: CoinSpeaker

US Government Aims to Make Privacy Coins’ Use Case Obsolete

A branch of the United States Department of Homeland Security (DoHS) is researching the possibility of using blockchain forensic analysis tools to better trace privacy coin transactions.
Privacy No More: US Government Preparing Forensic Analysis Tools
Among the biggest concerns surrounding cryptocurrencies like Bitcoin are fears that the emerging technology could facilitate money laundering by rogue countries, terrorist organizations, and cybercriminals.
However, the United States government has increasingly bolstered their ability to trace blockchain transactions, and have even learned how to track Bitcoin transactions back to the source and identify the wallet holder, as was the recent case where the U.S. Treasury sanctioned two men from Iran over their involvement in ransomware attacks.
Related Reading: Iran Is Prepping National Crypto to Evade US Sanctions
Next on the government’s agenda, is to begin looking into privacy-focused cryptocurrencies, such as Dash, Zcash, Monero, and more.
According to a pre-solicitation document published by the DoHS’s Small Business Innovation Research Program. The document, discovered by The Block, the U.S. government is allegedly investigating ways to better track transactions on the blockchains of the aforementioned privacy coins.
The report does speak positively about some of the aspects of privacy coins, but calls attention to transactions of “illegal nature” that occur using said cryptocurrencies. The eventual goal is to build out a platform that law enforcement agencies, government branches, and even private financial institutions can use to analyze and enforce important anti-money laundering laws.
Since the document is just a pre-solicitation, the notice is “merely an opportunity for interested parties to comment on or request information about the attached topic areas,” and doesn’t mean that the government already has such tools in its possession. It does, however, prove that the DoHS has concerns over privacy coins and their potentially illegal usage.
Japan Bans Privacy Coins, Will the United States Follow?
Zcash, Dash, Monero, and many other privacy-focused cryptocurrencies allow users to hide transaction and address data from anyone outside of the sender and receiver.
Monero is the cryptocurrency of choice for most cryptojackers as cybercriminals are able to easily hide their tracks. Monero has also unseated Bitcoin as the most-used cryptocurrency on the dark web, so it’s no surprise to see that the United States is joining Japan in addressing concerns around privacy coins.
Related Reading: Japan’s FSA Grants Self-Regulatory Status to Crypto Industry
In Japan, where cryptocurrency-related theft has skyrocketed, the Financial Services Agency (FSA) has imposed a ban against any cryptocurrency exchanges in the country from offering privacy coins. The ban took effect this past June, and the ripple effect is just now reaching the United States.
Coincheck, which suffered the largest cryptocurrency exchange hack in history at the start of this year, was among the exchanges that were forced to comply with the FSA’s ban, and removed Monero, Dash, Zcash, and Augur’s Reputation coin.
Featured image from Shutterstock.
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Exploring the New Way of Disrupting the World of Blockchain at Shift Money

CoinSpeaker

Exploring the New Way of Disrupting the World of Blockchain at Shift Money

Shift Money, a conference floor jampacked with content and amazing after-parties, has become famous for its atmosphere. Holding purpose to explore new ways to disrupt the world of Payments, Insurance, Lending, and Blockchain, it gathers industry’s representatives to find new partners and new opportunities.

Exploring the New Way of Disrupting the World of Blockchain at Shift Money

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After Bitcoin, terrorists now use Monero, Verge and DASH for fund raising says Ex-CIA agent

Yaya J. Fanusie, an ex-CIA agent, spoke about how terrorists are diversifying their financing with the help cryptocurrencies during a recent event.
Fanusie said that cryptocurrencies might become the normal way of transacting in the near future but with this advent, it might also become an “illicit financing toolkit” for the terrorist.
He added:
“CSIF has documented multiple jihadist cryptocurrency fundraising campaigns on social media cryptocurrencies…but the good news is that most terrorists particularly those operating on jihadist battlefields inhabit environments that are not currently conducive to cryptocurrency use.”
The ex-CIA analyst highlighted an incident where a jihadist funding campaign called Al-Sadaqa [for the charitable living] was claimed to be raising Bitcoin as funds for fighters in Syria. He said that this group was using social media channels to raise awareness among its users to donate anonymously using Bitcoin. He added:
“The group encouraged followers to purchase Bitcoin vouchers from website that took payment in Euros, the group hosted sites where supporters could use Bitcoin ATMs to buy cryptocurrencies so clearly the campaign organizers were trying to make the Bitcoin process easier for novices.”
Furthermore, Fanusie said that the group diversified from Bitcoin to other cryptocurrencies. According to Fanusie:
“The group’s most significant adaptation was eventually branching out beyond Bitcoin by early 2018, the group posted on Telegram that they were accepting cryptocurrencies like Monero, Verge and Dash.”

This is significant because tokens like Monero are privacy coins and the transactions are almost untraceable. These cryptocurrencies provide the users with features to hide their transactions from the general public, unlike Bitcoin, whose transactions are open and viewable by the general public.
Fanusie continued:
“The above case clarifies that some terrorist organizations are looking to add cryptocurrency donations to their funding streams…this means that if public cryptocurrency adoption increases, terrorist groups will probably begin to transact more in digital tokens.”
The Director of Analysis for the Foundation for the Defense of Democracies’ Center on Sanctions and Illicit Finance, said that people usually purchase or transact cryptocurrencies using exchanges, so he urged financial authorities to engage with exchanges to keep bad actors and terrorists from such platforms.
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Source: AMB Crypto

Dash stress test hits 3 million transactions; surpasses Ethereum [ETH], XRP and Bitcoin Cash [BCH] all-time high transactions

Dash, the thirteenth-biggest cryptocurrency by market cap, has surpassed all the top cryptocurrencies in the market in terms of transactions. Earlier this week, a stress test was executed by the Dash team, resulting in over 3.5 million successful transactions taking place in a single day. Moreover, the network did not face a congestion problem.
Along with this the stress test transactions surpasses the all-time high transaction of all the top cryptocurrencies in the market. This includes Bitcoin [BTC], Ethereum [ETH], XRP, and Bitcoin Cash [BCH], according to the data presented on Bitinfocharts.
BTC, ETH, XRP. BCH, & Dash Transaction chart | Source: Bitinfocharts
The stress place took place for 24 hours on November 11, 2018, on the Dash network. The community-driven stress test of the blockchain was live on stresstest.mydashwallet.org.
The previous stress test was held in the month of July 2018 and had over 700,000 transactions in a single day, according to Mark Mason, Director of Media & PR at Dash. Moreover, the Bitcoin Cash stress test, which had stirred up the whole community with a transaction of over 2.1 million. This stress test has effectively beaten the fourth-biggest cryptocurrency, Bitcoin Cash in terms of 24-hour transactions.
Mark Mason said on Twitter:
“I would like to extend a big thank you to Delta engine and MyDashWallet for orchestrating the test test, the final transaction count for the 24-hour period was over 3 million, which is new record and all-time high the number of transactions achieved by a Bitcoin-based blockchain.”
He further added:
“These stress tests are not just for bragging right, we need to test and push the blockchain to its limits to identify problem areas to improve upon. Those have claimed that on chain scaling wasn’t possible in the past have been proved wrong. This is only the beginning.”
Harshit Tiwari, a Twitterati said:
“We did it. That’s a NEW RECORD! Cheers to all the community members. Glad to be a part of this. Dash Dash Dash!”
Sikkcritz said:
“But it’s still a pre-mined scam coin and will never rid it’s reputation of it’s sketchy history. Just another variant of bitconnect IMO”
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Source: AMB Crypto

MBAex Accepting Dash To It’s Exchange

A cryptocurrency exchange in Southeast Asia, MBAex, will start to implement DAsh into its platform along with their own token MDP, Tether and Bitcoin trading pairs, due to the great work from Dash Embassy D-A-CH.
The exchange’s currency consumer base is around “70% from Greater China area (China, Taiwan, HK, Macau)”, “20% SE Asia”, as well as “10% Others” areas with “daily website traffic of approximately 1.8mil access and active trader count of approximately 200k to 300k individuals.”
The exchange told Dash Force News that they currently have over 1 million registered KYC–ed users. The integration will expose Dash to more individuals along with having the advantages of their “24hrs live chat support and an affiliate program to drive the growth of user base and transactions.”
The exchange features trading fees which are 0.05% with a VIP6 subscription and a normal rate of just 0.1%. They also have extensive informational and research sections for traders. Over the next two years, MBAex has a goal to offer more products and services to grow their community, continue efforts on branding and marketing and expand in European markets.
MBAex has said that they are motivated to integrate Dash because they always select the project with a great value proposition and potential to fulfil the needs of their user base. This is a common theme throughout the ecosystem and development of Dash. the payment processor and exchange, SlithEx is also aiming at integration in Southeast Asia by using Dash’s ease of use and technology advances to gain a better adoption.
As said by Dash Force News:
“Many groups who have integrated Dash have highlighted Dash’s focus on everyday usability as a reason for the integration and this increases the demand to buy and sell Dash on exchanges”
The demand from merchants and consumers alike which want to buy Dash to use it or need to liquidate it into fiat to pay bills which can’t currently be paid through Dash.
The team at Dash has actually said that it will focus on increasing adoption for Dash. This is due to traders using Dash as their liquidity service to move between exchanges and other coins quickly to capture the potential gains because Dash is faster and cheaper to move than other coins
What are your thoughts? Let us know what you think down below in the comments!

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Cryptocurrency Market Update: Monero and Dash Driving Monday Recovery

FOMO Moments
Markets recovering this Monday; Monero, Dash and BAT climbing, Eternal Token getting trounced.
As we start another week crypto markets have made some upward progress. Total market capitalization has passed $210 billion for the first time in seven days and green is the predominant colour at the moment.
Bitcoin is up marginally and has made it to $6,440 after a low just under $6,300 a few hours ago. Bullish momentum appears to have returned, in the short term at least. Ethereum is faring a little better and is posting a 4% gain since this time yesterday taking it to $208 at the moment.
Altcoins are all green right now and one or two are recovering well. In the top ten Bitcoin Cash has taken the lead with a 4.5% gain to $562. Monero is also trading strongly, knocking Tether down a spot and taking ninth place with a 4.8% rise on the day to $112. XMR market cap has reached $1.85 billion whereas USDT is at $1.77 billion, dropping it back to tenth place. The rest of the altcoins in this section are up a percent or two aside from Stellar which hasn’t really moved over the past 24 hours.
Dash is posting the best gain in the top twenty at the moment, up almost 6% to $167. Iota, Zcash and VeChain are all up between 2-3 percent on the day and the rest are trading around a percent higher than weekend levels.
BAT is still enjoying gains following its Coinbase listing and tops the top one hundred with a 9% rise to $0.321. Wax is also trading positively this Monday morning with an over 8% gain.
Getting bashed up at the bottom of things in the top one hundred altcoins is Eternal Token dumping over 17% at the time of writing. Ravencoin is also in the red with a 6% loss on the day and Bitcoin Diamond is not far behind with a drop of 5% since yesterday.

Total crypto market capitalization has gained almost 1.5% on the day to reach $211 billion, its highest level for almost two weeks. Things seem to have settled in this channel over the past few hours and, at least for the short term, the trend is bullish.
Bitcoin dominance has taken a hit as the altcoins start to show signs of recovery. It has dropped back below 53% as Ethereum has slowly crept back over 10% and Bitcoin Cash has made solid gains. Since last Monday’s market dump things have recovered by 4% over the past seven days.
FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals.
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Dash’s Adoption and Hashrate Reach New High While Price Continues to Languish.

While the prices of most cryptocurrencies are off their peaks, very few coins and tokens are working hard enough to regain those price peaks back. One such coin is Dash, which not only has worked on improving its merchant reach but also has worked on its core and improved its hash rate.
Dash firing all guns to break into top 10 coins
According to the latest post by Joël Valenzuela, the editor of Dash Force News – Dash’s own mouthpiece- Dash adoption and mining hashrate has reached new highs as the US economy shows long-term signs of trouble.
According to global Dash merchant listing site DiscoverDash, 4,015 businesses globally accept Dash as a form of payment. This is likely a conservative global estimate since many processors such as GoCoin do not publicly list their customers, and CoinGate alone, which enables Dash payments by default, claims 4,000+ merchants worldwide.
According to the post, the growth for Dash comes as other sectors of the economy show signs of worry. To quote from the post
“The growth in Dash’s ecosystem comes as other sectors of the economy show signs of worry. The US national debt continues to grow at an incredible rate, fast approaching $22 trillion. According to projections by the Committee for a Responsible Federal Budget, without changes to current spending policy, the US national debt will grow to six times the country’s gross domestic product (GDP) by 2093 when the population born in 2018 will have reached 75 years of age”
One of the other contributors to this growth has been Dash’s efforts in Venezuela. The coins successful endeavors in Venezuela have created a global template for adoption in the event of a worldwide economic crisis. At present, nearly 2,200 merchants in Venezuela accept Dash for payment, over 50% of the global known total. This is due to the combination of the several Dash teams on the ground pushing adoption for the last year, as well as Venezuela’s considerable economic problems, with hyperinflation leading to issues storing wealth as well as transacting. Dash has a fixed stable supply and can transact instantly anywhere in the world for fractions of a cent, presenting a superior alternative. In the possible event of more failing currencies around the world, we may see a similar opportunity for Dash adoption to rise.
While this has been on the adoption side. Dash’s mining hashrate has reached a new all-time high. At the time of writing, the current hashrate has reached an unprecedented 2.884 petahashes, according to data from BitInfoCharts. The previous high was reached in late December at 2.63 petahashes when Dash had reached an all-time high in the price of over $1,500 per coin. The current new high in hashrate comes as the price remains around 10% of what it was when the previous high was reached.
While Dash is definitely doing every bit to get its peak prices back, one will have to wait and see when does it actually gets there.
How sooner, do you think, will Dash reach its peak price of around USD 1500 again? Do let us know your views on the same?
The post Dash’s Adoption and Hashrate Reach New High While Price Continues to Languish. appeared first on Coingape.
Source: CoinGape

Cryptocurrency Market Update: Birthday Bitcoin Stays Over $6,000 for a Year

FOMO Moments
Markets have found a new level for now; Dash, OmiseGO starting to recover, Revain dumping still.
Crypto markets seem to have found another plateau for the time being. Yesterday’s big dump stopped just above $200 billion total capitalization and markets have remained at that level today.
Bitcoin has found support above $6,300 for now and has stayed there for the past 24 hours remaining flat on the day. The bears are still dominating things so a further decline to $6,200 could be imminent. Ethereum has extended its losses and remains under $200 at $197 at the moment.
Altcoins are currently mixed which suggests that they have found another level and no further losses have occurred. In the top ten only Monero has managed to claw back anything, and that is only 1.2% to just over $100. The biggest loser is Cardano again as ADA slips closer to dropping out of the top ten.
The top twenty is also half green and half red but only marginally. Dash is currently making the best recovery with a 2.5% gain to $156. Still falling is VeChain with a further loss of 2.5% during the morning’s Asian trading session. Just outside this area of the chart at 21 is OmiseGO has also made nearly 4% back today.
There are no double figure fomo pumps right now but topping the top one hundred’s best performing altcoins at the time of writing is Chainlink and Pundi X bit gaining 6-8 percent on the day. PIVX has also regained 5% and Loom Network is not far behind.
Topping the red end of the top one hundred and the only altcoin with a double digit loss is Revain shedding 13% at the moment. Also getting beat up is Cryptonex, Dentacoin, Digitex Futures, and Revencoin all losing over 7% on the day.

Total market capitalization has held the level it fell to yesterday which is $203 billion. Trade volume is a lowly $10 billion and this appears to be its new channel for now. We are still in the depths of 2018’s yearlong crypto winter. Bitcoin’s dominance has remained over 54% for its birthday and aside from a couple of quick dips has remained over $6,000 for a year which is remarkable.
FOMO Moments is a section that takes a daily look at the top 20 altcoins during the current trading session and analyses the best performing ones, looking for trends and possible fundamentals.
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Bitcoin [BTC], Ethereum, Litecoin and more accepted as payment by Marks Jewelers

In a big push for adoption, Marks Jewelers, one of the biggest jewelry retailers in the United States, recently announced that they would be adding multiple cryptocurrencies as payment methods. This move is to reportedly expand the reach of the company to reach global proportions.
The jewelers decided to add cryptocurrencies as a payment method in order to pay lower fees for cross-border payments and avoid pitfalls of centralized payment processing systems such as chargebacks. They aim to capitalize on the blockchain and its poster technology in order to “open [their] store to the world”.
They announced support for coins such as Bitcoin [BTC], Bitcoin Cash [BCH], Bitcoin Diamond [BCD], Bitcoin Gold [BTG], Ethereum [ETH], Litecoin [LTC], Dash and Zcoin [XZC]. This marks a big drive towards adoption in partnership with Shopping Cart Elite, an e-commerce platform.
Moreover, the business has been functioning for over 35 years and offers products such as fine diamonds, engagement and wedding rings, jewelry and timepieces. They are also known for their JEWLVISION program, which offers customers the opportunity to create custom jewelry for special occasions.
The Director of Marketing for Marks Jewelers, Joshua Rubin, said in a statement:
“We’re very excited to begin accepting cryptocurrency payments from our customers around the world. This will allow us to make our fine jewelry available to the global market while paying lower fees and avoiding chargebacks. Marks has long been known for our meticulous craftsmanship and curated selection, and we are thrilled to open our store to the world.”
This adds to the long list of services slowly adding support for cryptocurrencies and make them a genuine medium of exchange as opposed to a speculative asset. The reason Marks chose to accept cryptocurrencies is also interesting, as they claim to reduce international money transfer fees and pass savings on to customers.
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Source: AMB Crypto

Crypto exchange CoinCola announces partnership with Dash, launches in Venezuela

Hong Kong-based cryptocurrency exchange, CoinCola has chosen Venezuela as their first new market. Best known for its peer-to-peer over-the-counter [OTC] cryptocurrency platform, CoinCola allows traders to buy and sell bitcoin using their local fiat currency.
The exchange will also enter a strategic partnership with Dash in a bid to increase the flow and accessibility of digital currencies in the Latin American country. As part of the partnership, CoinCola will be adding the Dash coin to their OTC platform and offer a 0% trading fee for all dash transaction until October 31st, 2018. Venezuelan traders can also earn 50% commission for trades completed through the CoinCola Refer a Friend program.
On the partnership with Dash, CoinCola Founder and CEO Allan Zhang said:
“CoinCola is averaging 100,000 transactions every month on our platform. We are the second largest public OTC platform in the world by transaction volume and at this time 95% of total transactions are from Asia. With our partnership with Dash, we will be truly global. We decided to partner with Dash because it is the most efficient digital currency for payments, offers the lowest fees, and provides ‘InstantSend’ technology. Dash represents a strong presence in Venezuela, Latin America, and the rest of the world. We are very selective in with which coins we list to our platform and we are proud to now offer Dash to Venezuelan users.”
Dash, through its instant digital cash payment mechanism, has established a growing presence in Venezuela with over 1,450 merchants including grocers, restaurants and retail outlets accepting the cryptocurrency. The organization’s ‘Dash Treasury DAO’, a decentralized investment fund, has granted over $33 million-worth of dash since 2015. Together with Dash, CoinCola is aiming to increase the adoption of cryptocurrencies in Venezuela by facilitating safe and secure trading at a low cost.
Venezuela’s rapid rate of inflation has rendered the national currency almost worthless, with citizens facing severe shortages of amenities such as food and medicine. Cryptocurrency adoption in Venezuela, Dash, in particular, has surged as the country looks towards a more transparent and stable means of storing and exchanging capital. With both OTC and coin-to-coin pair trading, competitive fees and additional incentives for local users, CoinCola is aiming to bring much-needed accessibility and diversity to the Venezuelan cryptocurrency market.
About CoinCola:
CoinCola is a Hong Kong-based cryptocurrency exchange offering both over the counter [OTC] trading and coin-to-coin pair trading in one integrated platform. They offer fast, secure and easy-to-use trading services at competitive fees. The CoinCola OTC marketplace allows people around the world to use their local fiat currency to buy and sell Bitcoin [BTC], Ethereum [ETH], Dash [DASH], Litecoin [LTC], Tether [USDT], and Bitcoin Cash [BCH]. Trading is done on a person-to-person basis and transactions are completed via secure online escrow. The CoinCola Exchange allows users to expand their portfolio by trading one digital currency for another. CoinCola offers Bitcoin [BTC] and Tether [USDT] as base currencies and supports a growing list of crypto-to-crypto trading pairs. The CoinCola mobile app allows users to stay on top of the markets and securely access their account on the move.
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About Dash:

Dash is the leading e-commerce and payments-focused digital currency, and the rising alternative to Bitcoin. Experiencing significant growth since its beginnings in 2014, Dash is now accepted at more than 3,000+ merchants, including 1,450 in Venezuela, in addition to being accessible via 400+ ATMs and 90+ exchanges worldwide, making it one of the few offering safe, decentralized financial solutions to real-world problems. Dash offers a form of money that is portable, inexpensive, divisible, and fast. It can be spent easily and instantly online at merchants across the globe, at much lower fees than credit and debit cards. With over 60 members on the core team and a unique blockchain mining and treasury model, Dash is the only major self-funded, self-governed organization in the cryptocurrency industry. This allows for constant development and funding for the entire project.
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Source: AMB Crypto

Stellar Lumens [XLM] and Dash to be supported on BitGo blockchain security platform

Recently, California-based blockchain security company, BitGo announced their support for two major players in the cryptocurrency market, Dash and Stellar Lumens.
The Founder and CEO of BitGo, Mike Belshe stated that both the platforms offer advancement in payments. He added that Dash has been focusing on offering instant payments and one of their unique features is that the privacy payments can be accessed through their platform. He also spoke about Stellar Lumens [XLM] and how the platform had been contributing towards tokenization. He added:
“They have been focusing on the global payments for consumers which is a little bit different than what Bitcoin does”
BitGo, with the help of its custody product, supports 85 cryptocurrencies in the market, including Bitcoin [BTC], Ethereum [ETH], Bitcoin Cash [BCH], Litecoin [LTC], and Zcash [ZEC]. According to Fortune, BitGo announced that it will be supporting Lumens in a couple of weeks. The company had recently introduced BitGo Trust, which is a qualified custodian for digital assets approved by the financial regulators of South Dakota.
Mike stated that BitGo does not use its platform for trading but provides custodianship and securities. He added:
“In our view custodianship has been the missing piece in the infrastructure of digital currency”
He also spoke about the difference in the custody solutions offered by BitGo and other platforms. He said that exchanges are usually focused on retail investors, where they focus on signing up a hundred thousand users a day and the problem with this is that they have a very small team working behind the security. BitGo, on the other hand, has a fully dedicated research and development team whose sole purpose is to provide security to any company in the world.
BitGo had recently become one of the first cryptocurrency companies to offer custody solutions, especially for cryptocurrencies. The company has also agreed to open itself to audits, start the common scheme of ‘Know Your Customer’ and also reveal the company books on a monthly basis.
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Source: AMB Crypto

BitGo Adds Stellar Lumens and Dash, CEO Says They Offer Unique Features

BitGo, a major Palo Alto-based cryptocurrency startup, is adding Stellar Lumens (XLM) and Dash (DASH) to its list of cryptocurrencies that it offers custodian solutions for, signaling that the two cryptocurrencies are seen as being unique and practical enough to pass the company’s selective coin addition process.
Customers will be able to generate wallets for Dash, a spin-off of Bitcoin aimed at being a more effective means of payment, starting Friday, and wallets for Lumens starting sometime in the next couple of weeks.
BitGo markets themselves as being the “world’s most secure wallet provider,” so the addition of XLM and DASH wallets could be exciting for investors in the two cryptocurrencies. The startup is also the largest Bitcoin processor in the world, with over $15 billion in monthly transactions with clients from over 50 countries.
BitGo CEO: Dash and Stellar Lumens Offer Unique Features to Users
The announcement regarding the addition of XLM and DASH came from Mike Belshe, BitGo’s founder and CEO, while speaking on Fortune’s Balancing the Ledger FinTech video series. Belshe specifically noted that the addition of the two new cryptos is due to their unique features that “offer some advancements, particularly around payments.”
Specifically, Belshe explains that the addition of Dash is due to the cryptocurrency’s “instant payment” and “privacy payment” features that are proving useful for many people, specifically those in countries like Venezuela, who are using Dash to avoid Hyperinflation and damaging fiscal policies.
Ryan Taylor, Dash Core Group’s CEO, recently spoke to Business Insider about the adoption of Dash in Venezuela, saying:
“We are seeing tens of thousands of wallet downloads from the country each month… Earlier this year, Venezuela became our number two market even ahead of China and Russia, which are of course huge into cryptocurrency right now.”
Belshe also explains that Stellar Lumens was also a clear pick for BitGo due to its narrow focus on providing “global payments for more consumers,” which sets it apart from Bitcoin due to its specific focus on transactions rather than being a store of value.
Stellar Lumens has been seeing increasing adoption rates, specifically from IBM’s new cross-border settlement system, World Wire, which uses Stellar’s blockchain to process international transactions.
That being said, it is important to note that institutions looking to use World Wire are not required to use XLM to conduct the transactions, and the institutions have the ability to choose any cryptocurrency (whether it be XLM or a stable coin) to transact with. Many investors assume, however, that XLM will be the go-to choice due to its seamless compatibility with the Stellar blockchain.
BitGo’s Additions Come Amidst Increasing Competition
As to the increasing rate of cryptocurrency custody solutions, including those potentially being offered by JPMorgan Chase and the New York Stock Exchange, Belshe contends that BitGo will always be seen as a better choice due to custody being its sole focus. This is compared to exchanges that simply want to hold funds to encourage the use of their connected exchange.
Belshe explained that if the NYSE went to the SEC and said “‘Hey, please let us be a custodian for the assets that we trade,’ the SEC would laugh them out of the room.”
Featured image from Shutterstock.
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Dash drives adoption in Africa, aims to make cryptocurrency payment an everyday concept

Recently, Dash, an autonomous organization and open source cryptocurrency announced that Dash Africa and Dash Hub Africa made significant headway in driving the adoption of cryptocurrency in the continent.
The cryptocurrency platform confirmed that despite the lack of funds for its projects, Ghana and Nigeria have been progressively using Dash to buy mobile airtime through Dash’s collaboration with Bitrefill. Bitrefill is a company that allows users to refill their mobile devices by making payments with Bitcoin [BTC] and other altcoins.
Furthermore, Dash Hub Africa has been able to drive merchant and consumer adoption through the introduction of an ambassador program through which 25 merchants decided to use Dash for payment.
Dash Africa is a non-profit educational organization whose aim is to promote the concept, comprehension, and usability of the digital currency in order to bring financial stability and economic growth in the continent.
According to Dash Hub Africa, consumers were inclined to use Dash as currency for amenities like the payment of bills, vouchers, and subscriptions. Dash Hub Africa stated:
“Africa continent with Real-time use of $Dash… Remittance to Africa is over $63 Billion yearly with Expensive charges. The Dash Hub Africa project is to divert Remittances to Africa through Dashpay as a DigitalCash payment solution offers the best features with a low transaction fee.”
The Dash Hub Africa project was initiated to build awareness and adoption of Dash effectively, making it mainstream in Africa. Dash aims to increase the everyday usage of the cryptocurrency by using it as payment for goods and services for merchants and businesses.
Recent news also saw businessmen in Venezuela driving the adoption of Dash in Venezuela through the formation of three organizations, namely Dash Merchant, Help Venezuela and Dash Text. The businessmen also collaborated with thousand Venezuelan merchants through their endeavor. Alejandro Echeverría, the Director of Dash Venezuela stated:
“Dash is a cryptocurrency that is mainly based on being a means of payment: to be fast, to have almost imperceptible commissions, and to be an open cryptocurrency, exchangeable by any cryptoactive and any fiduciary currency worldwide.”
The post Dash drives adoption in Africa, aims to make cryptocurrency payment an everyday concept appeared first on AMBCrypto.
Source: AMB Crypto

Venezuela Formally Releases Petro, Will It Aid the Country’s Economic Recovery?

Venezuela’s oil-backed cryptocurrency, the Petro, will be released to the global markets this Monday, marking one of the first cryptocurrencies in the industry to be created and administered by a government.
The cryptocurrency is part of the government’s “Economic Recovery, Growth, and Prosperity Program” that came about after the country fell into economic turmoil following a messy political switch to socialism.
While speaking to the country during a televised address, Nicolás Maduro, Venezuela’s president, said that the Petro is practical because it is backed by physical assets, including the country’s oil and precious metals, reports Venezuelanalysis.
“The Petro, unlike other digital currencies, doesn’t need to be mined because it already has a value, it is shielded with Venezuelan oil and mining wealth,” Maduro said.
The country has notably forced banks and businesses to accept the Petro and to treat it the same as the country’s fiat currency, the Bolívar, which has been the victim of hyperinflation over the past year. The government now requires the Petro to be a legal substitute to the Bolívar for everything ranging from real-estate to groceries.
Maduro clearly has high and unrealistic hopes for how impactful the Petro will be to Venezuela’s economy, expressing that their openness to nascent technologies, like cryptocurrency, will be the incubator for a new and robust economy.
“All Venezuelans will have access to the Petro and through it to make international purchases…The National Plan of Cryptoactives of Venezuela, will last 10 years. This is going to be the epicenter of the development of a new economy in the country,” Maduro added.
In addition to turning a new leaf for the Venezuelan economy, the government expects the Petro to neutralize threats of illicit activities in the country. This includes the black markets and money mafias, which the government blames for the Bolívar’s hyperinflation and the country’s economic troubles.
Petro Not Being Utilized by Venezuelan Citizens, Bitcoin the Most Popular Substitute
Despite the government’s efforts to mandate the use of the Petro, it is not being widely used by the country’s citizens, who are turning to Bitcoin and other cryptocurrencies in order to protect their money from the Bolívar’s inflation.
According to volume tracker Coin Dance, Venezuelan Bitcoin trading reached an all-time high last week, and is already close to surpassing last week’s high in the first couple of days this week alone.
Last week, Venezuelan’s exchanged approximately $620 billion Bolívar’s for Bitcoin last week, and have already traded approximately $640 million Bolívar’s for Bitcoin this week alone.
In addition to Bitcoin surging in popularity, the cryptocurrency Dash has seen increasing Venezuelan adoption in the past few months, making Venezuela Dash’s number two market in the world.
Ryan Taylor, CEO of the Dash Group, spoke about the growing popularity of Dash in the economically tumultuous country, saying:
“We are seeing tens of thousands of wallet downloads from the country each month… Earlier this year, Venezuela became our number two market even ahead of China and Russia, which are of course huge into cryptocurrency right now.”
Although U.S. citizens are banned from buying the Petro due to sanctions from the White House, it is unclear how well international investors will take to the state-backed cryptocurrency.
Featured image from Shutterstock.
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