Similar to Facebook’s Libra cryptocurrency, A new patent filing suggests that United States retail giant Walmart may be developing its own U.S. dollar-backed digital currency. Walmart filed patent for Digital Currency via Blockchain.
Patent filing number 20190236564, “System and Method for Digital Currency via Blockchain,” was published by the U.S. Patent and Trademark Office (USPTO) on Aug. 1. The document outlines a method for:
“Generating one digital currency unit by tying the one digital currency unit to a regular currency; storing information of the one digital currency unit into a block of a blockchain; buying or paying the one digital currency unit.”
Walmart continues to outline that the proposed digital currency project can provide a zero – or low-fee place for users to store wealth, one that can easily be redeemed and converted to store cash at selected retailers or partners. Such accounts could even be interest-bearing, the filing adds.
Early on in the filing, Walmart proposes that the launch of its digital currency could provide low-income households, for whom banking is costly, with “an alternative way to handle wealth at an institution that can supply the majority of their day-to-day financial and product needs.”
“The digital currency may act as a pre-approved biometric credit. A person is the ‘credit card’ to their own digital value bank.”
This would allow customers to buy products or services for themselves and for others — using the platform to hire a technician for repairs, an associate or a designated shopper for a given amount of time.
Bitcoin is one of the most preferred investment options in the world, Bitcoin was intended as currency, rather than an investment tool. As per a new survey by Grayscale Investments, about 36% of the investors in the United States are willing to invest in BTC. That means, despite all the controversies surrounding it, BTC has a potential of over 21 million new investors alone from the US.
The report states “Investors are constantly looking for new ways to diversify their portfolios as traditional assets and markets have begun to move more closely in sync with one another. Increasingly, savvy investors recognize that bitcoin and other digital currencies may have unique investment characteristics that provide diversification far beyond the basic 60% stock/40% bond portfolio allocation.”
At a time when regulators across the globe, including the US President Donald Trump, are criticizing crypto and calling for stricter regulations, the report brings new hope for the US industry stakeholders.
Union minister Anurag Singh Thakur, told the upper house of Indian parliament, Holding or trading cryptocurrencies like bitcoin is not banned in India.
The Minister of State to Ministry of Finance said, issues and concerns relating to Crypto currency is still under radar and investigation of a government-appointed inter ministerial committee.
He stressed that the Reserve Bank of India and the Ministry of Finance had issued a string of circulars and notices regarding the use of bitcoin and other similar coins.
As of now it’s cleared that Bitcoin is not banned in India! only a final report from the committee could shed more light on the final status of such nascent asset class.
“Presently, there is no separate law for dealing with issues relating to cryptocurrencies,” wrore Thakur in his response. “Hence, all concerned Departments and law enforcement agencies, such as RBI, Enforcement Directorate and Income Tax authorities, etc. take action as per the relevant existing laws.”
Thakur went on stating “It is difficult to state a specific timeline to come up with clear recommendations. The Inter-Ministerial Committee (IMC) under the Chairmanship of Secretary, Department of Economic Affairs is examining all issues, including the pros and cons of the introduction of an official digital currency in India. No decision on licensing and authorising any entity or company to operate such schemes or deal with Bitcoins or any virtual currency has been made as yet.”
Bitcoin price saw a gain after the comment of Donald Trump as bitcoin traders and investors bet that Trump’s acknowledgment of bitcoin will bring greater awareness of crypto and could push prices up.
In the crypto world, they took Trump’s tweets as an endorsement of bitcoin and the underlying blockchain technology.
“Achievement unlocked! I dreamt about a sitting U.S. president needing to respond to growing cryptocurrency usage years ago,” Coinbase chief executive Brian Armstrong tweeted. “‘First they ignore you, then they laugh at you, then they fight you, then you win.’ We just made it to step three y’all.“
Mati Greenspan, senior market analyst at eToro wrote in a note to clients, “Even though Donald says he’s not a fan of bitcoin, the fact that he’s mentioning it at all is hugely bullish for the entire crypto market.”
Andrew Yang, has previously praised bitcoin’s underlying technology, saying: “The blockchain has a wealth of potential. [It] could make many things more secure transparent and efficient.”
Now Trump has made bitcoin a valid issue, there’s nothing stopping these and others in the race to the White House making bitcoin and crypto a bigger part of their campaigns.
Starting today The blockchain ready Opera Touch browser for iOS is available for download. This follows Opera’s addition of Crypto Wallet support on Android and PC, that means Opera is now Web 3 ready across all major platforms.
“I am happy to let you know that the award-winning Opera Touch browser for iOS now features crypto wallet integration and Web 3 support. This completes our efforts to offer Web 3-ready browsers with built-in Crypto Wallet on Android, Windows, Mac, Linux and now iOS. Opera Touch for iOS lets you seamlessly interact with the next generation of Web 3 applications on the Ethereum blockchain.”
Opera has won couple of awards the Red Dot Design Award and Gold IF Design Award. Opera Touch is an innovative web browser which is used by millions.
Opera supports all ERC-20 tokens, stablecoins and non-fungible tokens (NFT). Ethereum is a popular and quickly growing protocol that allows people to make transactions and enables developers to create decentralized apps (dApps) which provide practical use for this technology.
Opera Touch for iOS with Crypto Wallet, like the Opera browser for Android, supports the Ethereum Web3 API, making interacting with dApps seamless, without the need for browser extensions.
We’re not in a bull market now yet what we are in right now is a bull trend the ugly side of where we are at and where we are heading the scams are going to come back. the market gets the more creative and it’s not just coins it’s not just projects exchanges.
Who protects you or who is supposed to? what if they are decentralized? there’s no CEO or CFO who is going to protect you? is it the CFTC what they call Bitcoin a commodity and they say that they are supposed to regulate it but what are they actually regulating? The US Department of Justice is actually probed in two different projects but what have they actually done?
When it comes to cryptocurrency here’s something that’s really serious issue, the fact that that coins have been taken into wallets that you’re not controlling they’ve been sold on exchanges that’s your money being taken from you and there’s like what’s consequent to base the signal for that they have sanctuary this is that. you can’t depend on any regulators or any entities to protect and the problem will get worse.
So what can we do about it? Something peculiar about this situation, the investors who need protection there’s actually really good cryptocurrency projects who fall victim to it these exchange hacks who fall victim and the value of the cryptocurrencies get crushed so you actually have a really good project who suffers because of a hack and then there and then what happens is the community feels the coin is dumping which is a scam coin we see stuff like that all the time there’s not a lot of how can you say this you cannot do in the space of cryptocurrency without receiving some sort of a dramatic reaction and the drama goes both ways I mean we move up 5% all of a sudden people see it as trash.
What cryptocurrency does is that being said though everyone is getting excited and projects are getting so are the scammers so are the hustlers so are the people who want to steal your money everything comes with good and it comes with bad and we’re already seeing it happen.
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It is Finally happening, Bitcoin debt the price of all seems to indicate flat lining vertically got it now the bull is a conspiratorial animal and things like this are never of a natural occurrence ever neither up nor down it’s always some tether manipulation of some sort today it is most definitely because of the bad Briggs.
The government once again failed to reach consensus, after it went through resistance bang. The three key resistance levels were smashed 42 44 45 and not just for Bitcoin but Etherium over a $150 again, XRP isn’t on much difference, 450 litecoin well over $60, Finance coin is 19 bucks and Tether is a penny over a dollar, about Cardno it is almost 8, these peaks almost confuse sellers where they should put their sell orders.
Shorter’s of Bitcoin that bet the wrong way $400 million dollars lost getting liquidated in the last six hours, taking a look at what happened within 30 minutes Bitcoin jumped almost 20% to hit resistance at differing price levels. Now it depends on what exchange you saw sometimes you would have seen Bitcoin heading over 5k but generally the Aggregate a price that Bitcoin hit resistance at was for 800 for 830 someone for 850.
Many of us would like to have seen the old resistance lines be the resistance again which would learn about $6,000 sadly that’s not been the case however the good news is that this is pointing to a very positive and recent trend which is Bitcoin posting higher highs and higher lows where will it go now? to be honest no one is quite sure.
The idea of buying crypto at a peak being the point of maximum financial risk has proven to be far less true than it has been in a very long time, you don’t want to buy in if it’s a silly jump in price but so far it’s been a great idea you think you’re buying the top but nope that’s not always the case.
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