Michael Phillipou

HomeAuthorMichael Phillipou, Author at CryptoTechNews

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It is fair to say that Bitcoin has been exceptionally successful as a payments’ technology, regardless of its current trading price, particularly given its incredible adoption. It also follows that Central Banks have been contemplating the issuance of their own Central Bank digital currencies (CBDCs) in order to remain competitive as private companies continue to compete aggressively in the payments space, combined with bitcoin posing a real threat. Discussions about CBDCs have featured prominently at...

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Cash in circulation in Sweden is about 1% of its total Gross Domestic Product (GDP) as retail payments are virtually cashless, according to Bitcoinist. This means that unless Sweden’s Central Bank issues a digital currency, the country would be completely reliant on the private sector in order to serve the payments market. As part of the World Economic Forum’s Annual Meeting, the Central Bank of Sweden’s Deputy Governor, Cecilia Skingsley, has written an article to describe...

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Whilst blockchain technology has its critics, one such ex corporate heavyweight in former Google CEO, Eric Schmidt believes that ethereum could become a “powerful platform” with enormous, but not yet realised potential, according to CCN. In a live event hosted by Village Global with economist Tyler Cowen, Schmidt made a number of remarks commenting on the blockchain technology’s potential and the ability for other businesses to emerge as a result of its existence. In particular,...

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There has been significant hype around the potential of cryptocurrencies where many use cases have not yet been realised or remain in development. However, Canadian company, Ledn has reportedly issued the first bitcoin-backed loan in Canada, according to Bitcoinist. Ledn has a unique offering as it offers fiat loans against consumers providing bitcoin as collateral or security. The recipient of the loan was Bylls, a Bitcoin payment processor and needless to say, Byll’s CEO Francis Pouliot...

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User adoption is everything when it comes to proving the value of new technology. Ethereum co-founder Joseph Lubin and founder of the world’s largest blockchain development firm, ConsenSys, is the driving force behind the creation of three Ethereum products which are the most widely utilised across the globe, according to CCN. A very humble but remarkably successful company in ConsenSys, which boasts nearly 1000 developers, is responsible for developing the suite of products dubbed ‘TIM’....

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The world’s largest cryptocurrency by market capitalisation turned 10 years of age yesterday. When reflecting on the mission of Bitcoin and reading the original Bitcoin whitepaper, it is easy to see why Bitcoin is being adopted worldwide. The very concept of a ‘pure peer-to-peer version of electronic cash’ completely removes the need for financial institutions being involved in handling the money as a trusted third party. It creates enormous efficiency and breaks down borders. No...

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Exciting Australian based startup TravelbyBit is set to announce that it will be integrating Binance’s BNB coin into its merchant partners, according to Bitcoinist. In January this year, in a first for Australian airports, TravelbyBit went into a partnership with Brisbane airport in order to offer consumers the ability to pay with cryptocurrencies at the airport’s terminal shopping outlets. Following TravelbyBit’s success and traction, earlier this month, Binance invested $2.5 million  into the company. TravelbyBit...

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Gibraltar continues to position itself as a global leader of innovation and with its recent intention to develop blockchain-related educational courses, the Government of Gibraltar in a collaboration with the University of Gibraltar has formed an advisory group to bring these courses to market, according to Cointelegraph. In a bid to address the growing demand for blockchain related skills across both the private and government sectors, the collaboration along with the New Technologies in Education...

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Binance launched the fiat-to-crypto exchange today in Uganda, called Binance Uganda. The platform is committed to processing both deposits and withdrawals of Ugandan Shillings. As Binance continues its phenomenal growth and dominance of the cryptocurrency markets, Binance Uganda represents the first official fiat-crypto exchange the company has launched. The exchange has the capability to perform an extraordinary 1.4 million transactions per second, according to Bitcoinist. Binance, through its commitment to driving greater financial inclusion, has...

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After launching in June this year, Coinbase has decided to close down its institutional investor Coinbase Index Fund and instead is directing prospective investors to consider its Coinbase Bundle product, according to CoinDesk. According to the spokesperson in discussions with CoinDesk: “After assessing demand from retail, accredited and institutional investors, Coinbase has decided to shut down Coinbase Index Fund. We will focus on providing diversified exposure to all investors through Coinbase Bundle.” The key difference...