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Singapore banks to use Blockchain, BitHappy vs OpenBazaar: Bitcoin Only Stores, Coinbase Shift Debit card and more news.
Cryptocurrency price fluctuation depends greatly on related news and events around of the World.
This week various events including the political proposal in Southeast Asia, a new service for US customers, the expansion of the largest global banks consortium to research distributed ledger technology and the rise of new platforms to make “Bitcoin Only” purchases have also had a great influence on the Bitcoin price. And here are some of them.
At the United Overseas Bank (UOB) 80th anniversary dinner, Lee Hsien Loong, Prime Minister of Singapore, commented that Bitcoin and blockchain technology are going to change the banking industry. This statement from Loong suggests a bright future for the decentralized technology within the country.
Long’s ten minute speech was concluded with words of support towards blockchain applications within the banking industry:
“The operation environment has become more challenging, and on top of that, technology is moving very fast, with new business models disrupting traditional banking. For example, more and more people are making payments through their smartphones, they can pay for taxes, buy movie tickets, shop online, transfer money, pay for goods at restaurants and shops, all on their smartphones. [...] And that’s just on the consumer side of the financial services. There are other technologies, like blockchain, which is used for Bitcoin but can also be used for many other applications. […] And our banks must keep up to date with these developments.”
BitHappy and OpenBazaar are positioned to lead the bitcoin goods trading software race, as both platforms prepare for a December launch.
Both BitHappy and OpenBazaar look to deploy immediate options to create functional, complete, “Bitcoin only” stores. Marco E. G. Maltese, author and journalist at CoinTelegraph, decided to compare both of the competitors and asked Brian Hoffman, lead developer of OpenBazaar, to give his point of view on both projects.
According to a report from Reuters on November 19th, BNP Paribas, Wells Fargo, ING, MacQuarie and the Canadian Imperial Bank of Commerce have joined the R3 consortium researching ways blockchain technology can be used in the traditional financial industry.
On November 20th, one of the largest cryptocurrency exchanges, Coinbase, announced the launch of Shift Card – a bitcoin debit card which seeks to provide an everyday solution for those looking to spend their bitcoins.
By combining the universal recognition of Visa with the security of Coinbase’s wallet, users will now be able to spend bitcoins stored in their Coinbase accounts anywhere that Visa is accepted. The Shift Card will allow users to spend their bitcoins as if it were a regular debit card.
On November 18th, the first public information appeared about bitcoin exchange solution provider ANX International offering a full suite of blockchain solutions to make the use of bitcoin and blockchain easier. These solutions could promote bitcoin among companies within the traditional financial sector as they work in a similar way.
ANX’s suite of services bonus is that it is completely modular, which allows any company to choose only those services they really need without having to pay for all of them. It’s actually convenient as each company is able to adjust the suite to its own budget.
Ken Lo, Chief Executive Officer and Co-founder of ANX INTERNATIONAL said:
“There is a growing demand for Blockchain solutions from all types of firms from listed companies requiring their own blockchain-based loyalty programs, to companies wanting to manage their own digital assets exchange, without the burden of hiring a large team to maintain their operations.”
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