View: 418
Want create site? Find Free WordPress Themes and plugins.

Basically, fintech ventures refer to specific computer programs and use of other related technology in order to support financial services in banking and other sectors. Since the end of the first decade of 21st century, fintech has expanded a lot, now it refers to many technological innovations in the financial sector e.g.; financial literacy education and various forms of crypto-currencies.

finetech companies

SFA and FAJ join Hands for Fintech

According to a joint press release, the Singapore Fintech Association (SFA) and the Fintech Association of Japan (FAJ) have decided to work together in order to bring improvements in fintech development. Both the countries signed a Memorandum of Understanding (MOU). The press release also states that this joint venture will probably raise the financial profile of the Japanese fintech companies as well as expand the business opportunities for Singapore in wider Asia.

Views of Chia Hock Lai about the MOU

Chia Hock Lai, the president of Singapore Fintech Association, said that this partnership will lead to fill the gap between the fintech communities of Japan and Singapore. Natalie Shiori Fleming, Vice Chairperson of the FAJ, also exclaimed his thoughts in this regard. According to him they are looking forward to increase interaction and cooperation level between respective markets of the two countries through a deeper relationship.

Japan’s Financial Services Agency (FSA) has also updated legislative rules and regulations in order to improve cooperation and interaction level between traditional banks and fintech companies. Same is the case with Monetary Association of Singapore (MAS) in case of fintech related innovations.

Reasons to Promote Fintech

An overview of the above details may arouse questions in your mind regarding fintech. First of all, what is the reason behind so much dependability and concentration on fintech?

Answer to this question in a single phrase is:

The financial industry is more than ever focused on technological innovation than it was at any other time.

All the major countries are become fintech dependent with the passage of time. At the moment, North America is leading fintech startups while Asia is following. A bird’s eye view of some of the most active areas of fintech innovation are as follows:

  • Digital cash in the form of cryptocurrency.
  • Blockchain technology, to maintain records with no central ledger.
  • Computer based smart contracts.
  • Cybersecurity and fintech are interlocked.

According to the modern day financial experts, fintech will have the same impact on future financial affairs as was of mobile phone and social media in case of communication era.

Did you find apk for android? You can find new Free Android Games and apps.

Leave a Reply

Type Comments Here

Your email address will not be published.

4 × two =

Share Your Toughts

View: 581

Factors behind the success of Bitcoin’s Value

Want create site? Find Free WordPress Themes and plugins.

Factors behind the success of Bitcoin’s Value

Something, which facilitates the people in their lives, automatically will have some values. Whether it is in goods or in services. Therefore, Bitcoin’s uses and its benefits are the reason behind its value. Bitcoin community is active as other social networks. In addition, the main reason behind its increasing worth is the limited supply of bitcoins. Whereas, the government is unable to trace and tax. Bitcoins are in limited quantity. Accordingly,  the price of bitcoin in this year is 50x. which is seriously an insane swing of any currency.

Currency needs some qualities

There are some qualities which should be in any currency.  These qualities make the money more powerful.

Rare

Actually, money/currency should be limited in supply.  As economics proves that demand will increase with limited supply. Similarly, with the bitcoin, the total supply of 21 million coins increases its demand. In the result, its values increase day by day. Today’s value of bitcoin is $2251 as of May 23rd 2017.

Utility

The utility of any currency or object plays an important role in the determination of its value.  In the result, higher demand enhances the higher price.

Transferable

As currency/money always use in the transaction process, or in exchange meanings. Accordingly, If money has an ability of easily transferable then it will use by a large number of people. Moreo, if it has not, then money/currency’s demand will be low. Accordingly, Bitcoin’s transfer availability is in more than 100 financial sectors.

Unspecified

Everyone in the world has an authority to keeps his/her transactions private. Whereas, People like the process, which provides them such kind of privacy for their transactions. However, Bitcoin provides such type of process to its users.

Here is some discussion about how bitcoin value.

Scientifically

Bitcoin technology has worth for solving the long-standing two general problems. Clever solution for transactions of digital spending is achieved by the self-organizing and time-base record. The blockchain populate the bitcoin network, is well known public ledger.

Technologically

There is not central server to control or shut down the bitcoin protocol. Censorship resistance of bitcoin is critical. Clearly, means there is no one to control the usage of bitcoin. Censorship resistance to digital currency and its payment system makes the bitcoin an irreversible disruptive technology.

Social values

In the field of computer science, Satoshi Nakamoto’s innovations are milestones. Even so, with no limitation, bitcoin become the number one exchange and payment network. Each bitcoin users are responsible for his/her bitcoin’ security. Most of the people like the anonymous behavior of transactions are one the reason of bitcoin’s fame.

Bitcoin’s design

To the solution of double-spending, Bitcoin’s explicit design features offer users additional value:

  1. Bitcoin’s payment method
  2. Secure storage and transmission of user’s data
  3. Blockchain (decentralize public transaction ledger)
  4. Contract mechanism

 

Secure way for transactions

In addition, bitcoin user’s wallet generates the public keys.  Therefore, no one is allowing to step-in transaction’s process.

Network

Bitcoin is peer-to-peer decentralize network. However, nodes are distributing to decentralize the whole network. Whereas, Bitcoin is designed to seek the nodes. In short, the greater decentralization the healthier the network.

Above all are few aspects, that makes the bitcoin valuable. So, take time and make the decision with bitcoin world.

Tags: current bitcoin value, Bitcoin’s success factors.

 

Did you find apk for android? You can find new Free Android Games and apps.
View: 483

Bitcoin could reach $5 trillion

Want create site? Find Free WordPress Themes and plugins.

28 June 2017, well-known investor Michael Novogratz states that 10% of his money is in bitcoin and Ether platform. His prediction about the digital currencies value is up to $5 trillion in five years. It is depending on the adoption stamina of an industry.

Now, we are at the departure position because Nasdaq got $5.4 trillion in 1999 and poured it into space. pay your taxes on your own because nobody pays such taxes in that space. This system is establishing because of the revolutionary

Spirit.

Meanwhile, companies get furious to obtain this value. For that purpose, companies need to develop their business and start working on new project which has the ability to satisfy the regulators. But, at this time bitcoin is not in the position to correct street by the black market as well as hackers.

A few days ago, digital currency took reputational collapse because of the cyber-attack.

With 140% gained during a year, Bitcoin is the prime cryptocurrency with $2547 trading value. Whereas, ether’s value is $240 this year.

Accordingly, market cap data, ether’s market cap is $28,589,831,650 while bitcoin reaches to $41,973,033,307.

Novogratz enjoying the profit gained from these digital currencies. He wants to invest more than 10% of his money in the digital platform.

Goodluck!

 

 

Did you find apk for android? You can find new Free Android Games and apps.
View: 482

Japan and Russia Raise Bitcoin to new heights

Want create site? Find Free WordPress Themes and plugins.

2017 has been a good year for Bitcoin so far, with its price stabilizing above the $1000 mark and reaching to its recent mark $1263.00. Russia and Japan are the ones behind the high rise of Bitcoin this year.

Since the beginning of April, the price of Bitcoin rallied from $1070 to peak at this month’s high of $1227.00 on April 11. At the time of writing, bitcoin is trading at around $1283.81 according to https://blockchain.info/markets. The market value of Bitcoin has increased from around $17.5 billion on April 1 to surpass $19.5 billion on April 20, according to https://coinmarketcap.com/currencies/bitcoin/#charts

Japan and Russia Raise Bitcoin to new heights

Japan gives Bitcoin price boost

Bitcoin became officially recognized by Japan on April 1, which obviously gave Bitcoin an immediate boost. Citizens can now use the currency to make purchases. Also, it is exempted from sales tax.

Moreover, following the legalization of Bitcoin, retail giants Bic Camera and Recruit Lifestyle have both made an announcement stating that they will be holding trial payments in order to increase the usage of bitcoins for consumer purchases. Recruit Lifestyle uses the app AirREGI which enables merchants to carry out bitcoin payments. Also, there’s a possibility that over a million Japanese retailers may soon accept Bitcoin payments by the end of 2017.

Japan’s acceptance of Bitcoin has been very helpful since it gave a boost to both local and global demand.

Russia is Changing Its Stance Toward Bitcoin

The Bank of Russia banned the use of digital currencies in 2014 fearing that it would weaken the Russian ruble, which seemed to be struggling at that time.

This ban was the reason behind several bitcoin websites and businesses being shut down. It lead to many lawmakers speaking out against Bitcoin, suggesting that “they cannot be used by individuals or legal entities.”

However, at the end of 2016, The Russian Federal Tax service issued a letter in October stating that under Russian law digital currencies are not illegal and that there are no prohibitions for companies and citizens when it comes to dealing with them. But, this letter still gave no clear indication of how digital currencies will be under regulation in Russia.

Last week, however, Russia’s Deputy Finance Minister Alexey Moiseev said in an interview that The Russian Central Bank and the government are working on an agreement that could see digital currencies such as bitcoin become recognized as a legal payment method as soon as 2018 arrives.

Russia’s change in attitude toward bitcoin has helped shoot up the currency’s price and will likely increase its demand. This could possibly push the price of bitcoin to new heights in the future.

Did you find apk for android? You can find new Free Android Games and apps.
View: 517

Blockstream-Bring Privacy to All Blockchain Assets

Want create site? Find Free WordPress Themes and plugins.

 

On a blockchain platform, all the participants are free to check the transactions. This transparency level provides the much security to the users. Basically, it is a public verification process, where the cheating percentage is fall to its minimum level or zero. Unfortunately, it is not also good in privacy matters.

To improve the privacy terms, confidential transactions are its potential solution. Whereas, these transactions hide the transacted bitcoin which is using in test environment and academia.

A number of bitcoin core developers discover the confidential assets. These transactions are categorically designed for the bitcoin.  Confidential assets carry a level to any blockchain asset such as ownership paper, stock etc.

Blockstream engineer Gregory Sander says, “With Confidential Assets, we can generate multi-asset transactions where both the amount and the asset type itself are encrypted”.

Confidential asset

Basically, confidential assets are not a new born concept in the technology world. It is increasing in two ways.

The first part of this puzzle is planted on confidential transactions, which was introduced by the current Blockstream CEO Dr. Adam back. Blockstream developers Gregory Maxwell, Dr. PIETER Wuille and mathematician Andrew Poelstra further work on this and expand it to blockchain’s alpha sidechain.

According to these transactions, only receiver and sender will come to know the transacted amount. A public verification process, that is the rest of the world-where the transactions were created between the sender and the receiver. But the transacted amount is masked.

Whereas, in confidential transactions are masked in a programmed way that public verifier will able to perform a certain type of math on them.  If they cancel out the transaction, anyone is capable to add up the committed amount on the sending end. And, add up all amounts on receiving end. In addition, if they don’t cancel, means no amount was created out. In that way, a public verifier will fail to know how much was transacted. They have the idea that system wasn’t cheated.

The second part of the puzzle is quite new, which boost up the masking to assets themselves. Confidential assets include blockchain based assets not only bitcoin.

Sanders says, “While the sender and receiver would know that, say, a gold certificate was transacted, a public verifier would only know that ‘some asset’ was transacted — in ‘some amount”. “And if multiple assets are transacted at once, the public verifier would see that multiple types of ‘some assets’ changed hands, and he can verify that no ‘some assets’ were created out of thin air. But he would still not know what was transacted exactly, or how much of each ‘some asset”.

Projects

Confidential assets advanced in two different projects.

For one, it may be associated with the existing sidechain such as a liquid. This is an organize blockchain fix to the bitcoin. Where the blocks confirm by the service provider. which permits the transactions at little cost without troubling the main blockchain. Exchanges use this to let the customers move the bitcoins among different accounts without confirmation from the blockchain. Confidential assets allow to move the fiat currency as well.

In addition, Blockstream start a teamwork with Japanese IT company Digital Garage.

Sanders explains, “Digital Garage is working on a loyalty points blockchain” and “This means that all types of companies can issue their loyalty points, and customers can use them or trade them atomically for other assets using market makers. Privacy is huge here because you do not want to be showing the whole world how many points are outstanding on your books”.

Furthermore, confidential assets sidechain is a private decentralize exchange. This elementary setup can expand to mediators that act. Sanders says, “For the Digital Garage demo we have implemented a trustless, blinded swap of multiple assets through peers already. If we can deploy fiat currency on the blockchain, we can make similar arrangements between Bitcoin and U.S. dollar, euro or yen”. Blockchain use case complexity matrix

 

Did you find apk for android? You can find new Free Android Games and apps.
View: 494

Major Cryptocurrency Fiasco: Coinmarketcap Removes South Korean Price

Want create site? Find Free WordPress Themes and plugins.

The trading price of Ripple on South Korean cryptocurrency exchange has been removed from the Coinmarketcap yesterday.  Over past week, well-regulated South Korean cryptocurrency exchange market has been accountable for more 50% of global Ripple. The world’s second largest cryptocurrency exchange with $2.6 billion daily trading volume process $750 million worth of Ripple trades on a daily basis.

Coinmarketcap Failure:

The decision of Coinmarketcap for suddenly removing South Korean rates is questionable though it has removed South Korean rates from all the other cryptocurrencies including Bitcoin, Ethereum, and other cryptocurrencies. The price of all the cryptocurrencies that are concerted in the South Korean market has decreased significantly.

For newcomers, the sudden removal of South Korean rates from Ripple’s global average price looked like a major correction. According to Ripple’s chief cryptographer, David Schwartz, Coinmarketcap’s decision to eliminate Korean prices from the displayed XPR price made the price appear to drop possibly triggering some panic selling. Look meticulously at the data and don’t be deluded. He also highlighted that the latest price of Ripple without the high premium rate of the South Korean market is more meaningful. Although it has triggered a minor sell-off as investors began to validate concerns over the short-term performance of XPR.

Is it a Good Decision?

Analysts and experts have conflicting viewpoints on the removal of South Korean rates from the global price of cryptocurrencies on Coinmarketcap.  David Schwartz also said that the removal of South Korean rates is advantageous for the market and for every cryptocurrency that is listed on the Coinmarketcap since only a portion of investors is affected by the premium rates in South Korea.

It’s quite difficult for foreigners to trade cryptocurrencies in the South Korean market and also very much challenging for South Korean investors to take benefit of the arbitrage opportunity. The price of cryptocurrencies in the South Korean market is exclusive to local traders and investors.

The question about the rates from the South Korean market whether they should be imitated on the global price of cryptocurrencies still remains unanswered. Whereas some experts believe that it could make the ecosystem better. Others believe that the sheer trading volume coming from the South Korean market and strict rules imposed by the government to regulate the sector, South Korean rates should be considered in the calculation the global average price.

Eventually, due to the strict capital controls, it’s not possible for the foreign traders to move South Korean won out of the local cryptocurrency segment. Therefore, experts believe that the removal of South Korean rates is defensible.

Story credits: ccn.com

Image: Google images

Did you find apk for android? You can find new Free Android Games and apps.