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#Blockchain

Bank for cryptocurrency exchange account that allow crypto transactions.

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Here are some of the world famous Bank for cryptocurrency Exchange, which has collaborated with the crypto environment for seamless functionalities.

Understanding each Bank for cryptocurrency exchange globally.

Introduction

The government, as well as Centralised Financial Institutions, are on a high alert since the creation and implementation of Bitcoin in 2009, as they have completely disrupted the traditional Fiat economy which is the lifeline of the Centralised banks and governments. The cryptocurrencies have absolutely transformed the way the current generation transact money from one part of the world to another. The underlying Technology has intensely, incentivized the system by incorporating security and trust in the system automatically. Also one of the key cost-cutting paradigms was the elimination of the third party intermediary for the transfer of funds. Hence bank for cryptocurrency exchange wasn’t supported.

 

Why is a Bank for cryptocurrency exchange praised?

Due to the decentralized nature of cryptocurrencies, the citizens from all over the world have shown a keen interest in them and hence the centralized Financial Institutions are on persistent efforts to control it. Nevertheless, there are certain governments which are optimistic about the technology and have incorporated them by legally allowing the banks in the country to integrate with the cryptocurrency exchanges or the Crypto economy, so as to facilitate the ease of transfer of money between them. This would indirectly assist in the development of cryptocurrency, as well as the Blockchain Technology.

Below are some of the world famous Bank for cryptocurrency Exchange, which has collaborated with the crypto environment for seamless functionalities.

1. Fidor Bank

The Fidor Bank for cryptocurrency Exchange was Founded in 2003, the German-based bank has initiated a collaboration with the cryptocurrency exchange, Kraken, in order to integrate the fund transfer mechanism between them. The bank aims to deliver a world-class digital banking service to its customers.  It is one of the pioneers to adopt the Blockchain Technology and is also incorporating the Ethereum protocol to redefine its working methodology.

 

2. Toronto Dominion Bank

Headquartered in Toronto, the bank is striving hard for the Blockchain collaboration with it, as it completely has deciphered its actual use case. The bank for cryptocurrency exchange allows for all the credit card transactions but there is a condition that all the transactions must be undertaken through Mastercard, Visa, Visa debit, or Interac. Nevertheless, the bank is also working on attributes to improve even this.  

 

3. Simple bank

The United States-based Bank allows for all the cryptocurrency transactions through integration with most of the cryptocurrency exchanges. It is noteworthy to mention, that the bank even allows for the direct buying or selling of Bitcoin. All such attributes were able to be incorporated, as it is a subsidiary of the multinational Spanish banking group, BBVA (Banco Bilbao Vizcaya Argentaria).

 

4. Worldcore

The financial institution from the Czech Republic offers for the cryptocurrency integration by each and every individual who owns a multi-currency account in the bank. They can be made accessible through the debit cards or virtual cards. It provides an amazing integration with the cryptocurrencies. One of the best evidence is its PayAnyCard which can be filled with any number of Altcoins, which can then be used to spend them at various outlets.

 

5. Bankera

The United Kingdom-based Bank is nothing but a functional arm of SpectroCoin. The fully functional Bank offers each and every service of the traditional Bank along with added service due to its cryptocurrency collaboration. It even sanctions loans to its customers by considering Altcoins as a form of collateral.

 

6. USAA

The United States-based bank has a deep connection with the cryptocurrency exchange, Coinbase, as it allows its users to check their Bitcoin balances on Coinbase, through their mobile banking app. It is also considered as one of the earliest banks to have been invested in cryptocurrency exchanges.   

 

7. Goldman Sachs

Goldman Sachs is the most famous and the next bank for cryptocurrency exchange, which would be providing a trading platform in order to initiate Altcoin trading soon this year (2018).

 

Bank without collaboration with cryptocurrencies

While each one of the above-mentioned bank for cryptocurrency exchange is highly deterministic towards the development of the crypto community, there are other banks too which are suppressed to have any kind of relationship with the cryptocurrencies. Bank of America, Lloyds Bank, JP Morgan Chase, Bank of Scotland, Citigroup, Halifax UK, Wells Fargo, Commonwealth Bank of Australia, etc comes user this spectrum. However, the days are not far when even they would get converted into a bank for cryptocurrency exchange once they realize it’s stature.

#Blockchain

Apple going to launch its own blockchain soon?

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Let's discuss the recent activities made by Apple which enable us to think that this company is working on blockchain technology behind the scenes.

Bitcoin technology has created some wonders in the finance market. The craze of participation in bitcoin and blockchain technology by companies is increasing day by day. The success of these new technologies has enabled some huge companies to work and participate. Recently, JP Morgan, one of the largest financial firms in the United States also announced the launch of its stablecoinNow everyone is doubting when the tech giant Apple would launch anything related to the blockchain. Is Apple working on Blockchain technology behind the scenes? In this article, we would discuss some of the recent activities made by Apple which enable us to think that this company is working on blockchain technology behind the scenes.

 

1. Recently, Apple has submitted a filing with the SEC i.e.  Securities and Exchange Commission and it is assumed that this document contains the details about the interest that this huge organization is working on blockchain technology. We all are aware of the role that SEC plays in blockchain technology. Recently, SEC restricted the ICO for the security reasons and the birth of STOs projects was the result of this restriction. With the submission of the filing by Apple with the SEC, the rumors of Apple entering the crypto space has also become a topic to discuss. And with this news, it can’t be ignored that there is some plan in the idea of Apple company which is related to Blockchain technology and if this happens, it could be a catalyst for the crypto space in its bear market.

 

2. Also, there is news that the company chaired the internal committee and the board of RBA in 2018. The special thing about this meeting was the presence of the blockchain team. The inclusion of the blockchain team in this meeting has to lead many to assume and think that maybe the main aim of this meeting was somehow related to blockchain technology. Many trade analyst predicts that some important topics and projects related to the blockchain technology could have been discussed. And with news, the predictions and rumors that Apple is working on blockchain technology behind the scenes can’t be ignored.

 

3. Apple has also filed a patent with the United States Patent and Trademark Office. In this patent of application, Apple mentions creating an application which could certify the timestamps using the famous blockchain technology. As per Apple, this application can be used to create as well as storing the timestamps using the blockchain to protect sensitive elements such as SIM used in mobile phones or microSD that contains the credential and information of a person if any single node is hacked by some measure. This patent and application clearly clarify that this tech company is taking a huge interest in blockchain technology. If this patent gets cleared by the concerned committee, then it would be the first product of the Apple organization which supports blockchain technology in any means.

 

4. Competitions from other tech competitors: Slowly but for sure, many huge companies are taking interest in blocking technology. For example, Microsoft is entering in this domain by collaborating with Bakkt, Facebook just acquired a crypto company called Chain space and even the CEO of Twitter admitted to having some bitcoins and called this market as a market of future. Now, we all are aware of the competitions between these tech giants. While, one is entering in the blockchain technology, as per the perspective of competitions, the fact can’t be ignored that others would be in process of some other project in the domain. Since all other competitors of Apple are working on blockchain technology, it can be assumed that there would be some project in the mind of the blockchain team of Apple for sure.

 

With the above-mentioned points, it could be assumed that we can soon find one of the largest mobile and laptop brand, Apple launching a product based on blockchain technology or in partnership with any organization in the crypto space. If either of the predictions gets true, it would be a very positive move by Apple for the rising of crypto space as well. So, we can conclude that Yes, Apple is working on blockchain technology behind the scenes.

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#Bakkt

Is Bakkt the last hope for Bitcoin?

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To compete in the fast-growing crypto space, ICE, the organization responsible for the smooth working of famous NYSE came up with a product titled Bakkt.

2018 proved to be a devastating year for Bitcoin. The price of the cryptocurrency went down to almost 3/4 of what it was while entering 2018. Now, with 2019 already making up in 2019, Bitcoin hopes for regaining itself. It is looking up for every method which could lead it to enhance itself to its desired position in crypto space. In this process, Bakkt seems to be the last hope for Bitcoin. In this article, let us focus on the factors which enable us to conclude that Bakkt is the last hope to Bitcoin to regain its superiority in the crypto space.

 

Bakkt:

To compete in the fast-growing crypto space, ICE (Intercontinental Exchange), the organization responsible for the smooth working of famous NYSE (New York Stock Exchange) came up with a product titled Bakkt. No one can doubt the experience that ICE has when it comes to operating security as it has been owning and running various other exchanges too. So, the safety and operations of Bakkt are never in a region of doubt in crypto space.

 

What makes Bakkt different from other competitors?:

Microsoft was the first colossal company that collaborated with this product from ICE. ICE made an official statement in mid-2018 about this. The main aim of this collaboration was to create an open and legal environment for a digital property with the help of the Microsoft cloud. This collaboration is a game-changing move made by Bakkt.

Apart from Microsoft, there are some other big companies like Starbucks, BCG,  Pantera Capital, etc. who support this exchange. Even Starbuck has started to allow its audience to buy some of its products via bitcoin with the help of Bakkt.

 

How Bakkt appears to be the last hope for bitcoin?:

There are several indications and feature regarding Bakkt which lead the trade analyst to predict that it could work as a catalyst to help the crypto space to reach its desired positions. Bakkt aims to provide a wide range of facilities which may uplift bitcoin in the future. Let us have a glance at the factors which may lead us to conclude that Bakkt is the last hope of bitcoin:

 

1. Main Features of Bakkt:

Three main features which are meant to be provided by Bakkt are: Efficient, Seamless and Secure. Bakkt is designed to provide a non-stop service to buy, store, sell and spend on the digital property to its customers. It aims to collaborate the blockchain to the infrastructure and the existing market to provide efficient, trust and security. This is undoubtedly going to enhance the use and price of bitcoin.

 

2. Aimed market space of Bakkt:

Bakkt aims to provide its service throughout the entire crypto space from a single consumer to prominent giant merchants. BCG, Starbucks, Microsoft, Protocol Ventures, Alan Howard are some of the big names which have been using the service of this ICE product. Starbuck has even started converting the bitcoin paid by its customers into US dollars using this product.

According to Bakkt, even though the crypto space has been expanded so huge, there still is a large potential of the transformation of the digital assets into the financial market.

 

3. Potential to bring mainstream acceptance:

Mainstream acceptance is the hardest thing to achieve in the crypto market. This is what in which the crypto space has been struggling with. The private storage company sold a lot of cases having headlines such as credential data of digital assets for their profit and greed ignoring the privacy they promised to provide or the sudden decisions and movements made by banks lead few to lose all their savings etc. Somewhere the concerns mentioned above were a part of the severe loss that crypto space suffered in the last few months.

Somewhere, people have faith in Bakkt which is a company of ICE. People are already aware of the managing power and capacity of ICE. Further, the brand of Microsoft for storage is somewhat most of the people can trust in for the security and privacy of their credential data. So, combining both factors, people may have faith in this new product to overcome the bottleneck that leads people to suffer last year. Undoubtedly, Bakkt has the potential to bring mainstream acceptance.

 

4. Potential expansion and growth in the market:

Bakkt is continuously attracting small as well big organizations towards itself, and it was still possible to grow further. Microsoft, being itself one of the trusted and popular software provider of the world, more and more smaller developers will embed the Bakkt to make their software more reliable. The brand and trust of Microsoft will undoubtedly increase the attraction of developers towards Bakkt. This all lead to expansion and growth of Bakkt and eventually, securing the future of Bitcoin and strengthening it.

 

5. Potential conversion of Bitcoin to common currency:

Bakkt not only monitors the change in the price and the movement of trade of bitcoin but also will try to trade the cryptocurrency. This is what new Bakkt has come with and is attracting the people once again towards itself. Bakkt aims at finding a secured price conversion of the digital asset like bitcoin to a financial asset like common financial market currency and if this conversion expanded as expected by Bakkt. Bitcoin will rise to a height never seen before.

 

Conclusion: Well, it is never easy to predict the future and especially in crypto space. No one had ever predicted to the downfall of bitcoin to such a depth in 2018. But still, a conclusion can be made that Bakkt is the product that the crypto space was aiming for a long time to more exploration into the market. Being a product of an organization which owns the world’s largest stock exchange and having the support of trustable companies like Microsoft is what that can bring the acceptance of bitcoin into the market once again. Considering the above-mentioned points, it would not be wrong to state that if there is any last hope for bitcoin, then it is Bakkt.

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#Blockchain

Top 10 Friendly Countries for Blockchain Startups

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While some countries are allowing blockchain startups to set up legally, while some are in no mood. Here are the top 10 countries for blockchain startups.

Blockchain has been a revolution in the digital market for the last couple of years. It has occupied an important place in the digital currency revolution. The growth of technology has touched various fields such as smartphones, vehicles, shipping and a small sector in the sector of banking.

Although there is no country in the world which is not aware of this technology, there is a huge difference of opinion among countries regarding this revolution. There are various factors a blockchain startup has to look up before deciding it as a host country such as the jurisdiction regulations of the country, political views, tax system etc as these factors are going to affect the growth of any startup. While some countries are allowing blockchain startups to set up legally, while some are in no mood for any such beginning in the country and there are also some countries which are not sure about it.

 

Let us take a glance at the top 10 friendly countries for blockchain startups:

 

1. Malta:

This small Mediterranean country is on the verge of becoming the ‘island of blockchains’. The beginning of all these was when the biggest cryptocurrency exchange of world, Binance chose to inaugurate its office in this country. Also, they have informed all to set up a ‘crypto’ bank on this island.

Malta has been improving and enhancing new regulations that are friendly for blockchain startups. The country is so much dedicated to this technology that even the head of the country, the Prime Minister has predicted that the country will be the best place for this kind of startups throughout the world. The regulations are mainly focussed to evolve and encourage the investors to start this kind of projects in the country.

 

2. Switzerland:

The settling up of a crypto valley in one of its town, Zug, is sufficient to describe how much amiable this country to blockchain startups. It is one of the famous center of blockchain technology across the globe. Adding to the ice, they have imposed a tax-free regulation for the investors who want to invest in this kind of startups. Apart from it, their laws and regulations are very attractive and appreciated by investors as well as developers.

It has been the host of several blockchain projects including DFINITY, Xapo and of course, Ethereum. The privacy rules and protection of data are also appreciated by the blockchain startups.

 

3. Japan:

Japan is one of those countries which have approved cryptocurrency such as Bitcoin as a legal tender. It has been home of several blockchain traders, even some of the stores in the country have no problem in taking payments from users as Bitcoin currency. After six months of recognizance of cryptocurrency as legal, Japan is now accountable for more than half of total such trades.

Although there are various regulations regarding blockchain startups, they are friendly and easy to be acceptable and it’s not difficult to stary sich any startup in the country.

 

4. Singapore:

This country is a home of a huge number of triumphant startups in the field of blockchain technology. This country is nearer to two super giant technology rival countries Japan as well as China which makes it a more suitable center for startup of blockchains. The rules and regulations of this country are also very amiable and favorable bt the cryptocurrency. It has already a lot of exchanges of blockchain currency. So if a blockchain startup is willing to start and want to be in touch of both China and Japan clients and government, Singapore is the best country.

 

5. Belarus:

Two years back itself in 2017, this country made several rules and regulation affecting blockchain and crypto industry. As per these laws, they have made these digital currencies as the legal one in the country. The restrictions in the trade related to blockchain technologies are so friendly that the investors almost feel free to start any such startup or invest in this kind of organizations. Also, as per the rules, these kinds of trades are tax-free in the country until 2023. Due to the friendly rules and success, it is one of the preferable countries for blockchain startups.

 

6. Estonia:

Estonia is a developing country which has always tried to adopt new technologies in order for the benefits of the people and finance of the country. It has imposed several acts that attract the investors of the country as well as other countries to set up a blockchain startup in this country. It has declared itself to be a remarkable country in blockchain technology very soon. Also, they have established a new kind of citizenship known as e-residency which also attracts blockchain startups.

 

7. South Africa:

This country has depicted a tremendous interest in blockchain technology. They have made the crypto transactions as legalized one in the country. They have made several initiatives in order to attract the investors to start such startup in South Africa. The rules and regulation related to this crypto market in this country are also not so harsh, they always tend to welcome these industries. It is becoming as one of the most profitable countries for blockchain startups in Africa subcontinent.

 

8. Denmark:

Denmark has already announced a regulation stating complete relaxation in tax for any kind of blockchain trade. It is one of the most amiable countries for welcoming these types of startups in the country. The rules of the country are very friendly for the crypto industry making it one the interest for blockchain startups.

 

9. United States:

When it comes to adopting new technology in the market, this country is always in the front. The rules and regulations vary across different states of the country. Despite the oppose in some state, there are Bitcoin ATMs in the country. The friendly states of the county, Montana, Texas, etc. have very amiable regulations while welcoming the blockchain startups. Apart from it, no other country in the world can be better for any technology to start other than the US itself.

 

10. United Arab Emirates (UAE):

This Arabian country is also one of the most friendly nations. They have already used their own digital currency since 2016 and now welcoming global cryptocurrencies. The jurisdiction is very cooperative towards the blockchain and crypto industry. They are planning to be the first country in the world as a government powered by blockchain by next year. Due to these reasons, UAE is also one of the most preferable countries for blockchain startup.

 

The market conditions of countries continue changes. The expansion of crypto and interest in blockchain startups is so high that many countries are willing to accept it in their country. There are various factors to establish the startup in the country and initial requirement would be an amiable regulation and legalization. Apart from above-mentioned countries, UK, Sweden, China, South Korea etc. are also preferable.

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