Can Bitcoin Help Alleviate Poverty

Crypto News of the week 14/2019

On April 2, the blockchain start-up Celo announced the impressive sum of USD 25 million as the result of the second financing round. Andreesen Horowitz and Polychain Capital are behind the investment and believe in Celo's planned social payment app and the Celo Gold Coin. Can Celo deliver on the promise of digital inclusion? - Celo in the start-up portrait. In the future, being able to have digital assets stored via hot storage insured against theft should strengthen digital asset trading and trust among investors in it. Coinbase and Lloyds London are currently leading the way here. The European Union is also hoping for broad impact in the adaptation of DLT technologies with its International Association of Trusted Blockchain Applications (INATBA), which was launched this week. Representatives such as IBM, Accenture, IOTA, Ripple or Consensys are already among the members. - This and more in the Crypto News of week 14/2019

The fact that the crypto veteran Bitcoin itself emerged in the course of the international banking crisis in 2008 with the aim of making international finance more transparent and inclusive is often forgotten in view of recent WashTrading incidents or ICO fraud. It is all the more gratifying to find time after time those that are committed to the original idea in the multitude of blockchain-relevant start-up ideas. Because Celo's himself explains: “The greatest goal and motivation is (..) to solve problems in the real world, such as the lack of access to stable currencies, and to set up money transfer programs that help alleviate poverty. Our mission is to develop a monetary system that creates the conditions for prosperity for all. - You can find out what that should look like in the start-up portrait of the week.

40 central banks test blockchain technology - New report from the World Economic Forum on the strong interest in DLT of established financial institutions worldwide

With multiple intentions to issue their own digital currencies in the future, 44 central banks worldwide are currently testing the use of DLT. The Banque de France is already developing its own Ethereum-based application. In Cambodia, blockchain technology is to be integrated into the state financial system. The inadequate banking landscape leaves many people here without an account and has led to countless incompatible mobile payment services confusing the market and people. The National Bank of Cambodia wants to link these services with one another using its DLT-based payment service. Further details from the World Economic Forum report released on Wednesday can be found here.

International Association of Trusted Blockchain Applications (INATBA) established - European Union teams up with industry leads for mainstream success

More than 100 members are already part of the International Association of Trusted Blockchain Applications (INATBA) founded this week by the European Union in Brussels. IBM, Accenture, Deutsche Telekom, IOTA, Ripple or Consensys want to bring together start-ups as well as small and medium-sized companies, regulatory authorities and standardization bodies as part of the INATBA. This hub of know-how from industry and politics is intended to bring Distributed Ledger Technology (DLT) into the mainstream. Coindesk has the details for you.

Coinbase Exchange gives insight into Crypto Insurance with Lloyd's of London - Hot-Storage Funds of the largest Bitcoin exchange protected up to USD 255 million limit

There's nothing worse than losing your funds in the event of a stock market hack. Hot Storage Holding only operates those who like to burn money. In the case of so-called “damage to trust”, frequent traders could still be affected in their daily cycle through no fault of their own. 2 percent of all customer funds can only be attacked via hot storage on Coinbase, but this has also been protected by the insurance broker Lloyd's of London since 2013, with a maximum of USD 255 million for the industry. On Cointelegraph and the Coinbase blog, you can find out how the difficult task of comprehensive protection of digital funds works in everyday life and what you can learn as an investor in terms of value protection using the example of Coinbase.

Bitcoin overtakes Visa - 450 times higher average transaction volume in 2018, according to Data Light study

Millstone Bitcoin? If you look at the current transaction figures of the Data Light study from the underlying year 2018, Bitcoin overtakes the classic top dogs Visa and PayPal in some important parameters. Those responsible for the study conclude that “the Bitcoin network is more suitable for larger and probably also international payments.” You can find an overview of the results of the study and in detail at BTC-Echo and datalight.me.

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Kathleen has been writing for Unternehmenswelt magazine since 2018. Her main interests are new ideas and concepts, disruptive technologies and sustainable entrepreneurship. Kathleen previously worked as an editor for the social startup scene, various foundations and communication agencies.