David Drake

HomeAuthorDavid Drake, Author at CryptoTechNews

http://cryptotechnews.co/wp-content/uploads/2019/04/future-of-cryptocurrencies-1280x720.jpg

At the beginning of this year, cryptocurrencies received a huge bashing from world leaders during the World Economic Forum (WEF). Blockchain, on the other hand, was praised for its ability to revolutionise different sectors. Nearly two months after global leaders reflected on digital assets, it is emerging that Europe is ready to hit it off with blockchain technologies despite the volatility of cryptocurrencies. A report released by IDC shows that Europe is now at the...

http://cryptotechnews.co/wp-content/uploads/2019/03/Philippines-2-way-cryptocurrency-ATM.png

Automated Teller Machines (ATMs) are common and vital in today’s financial world. They ease access to funds for users so they don’t have to physically visit bank premises. Similarly, cryptocurrency ATMs are important in the cryptocurrency industry. To foster global adoption to happen, cryptocurrency ATMs need to be installed in urban centres. Already, it is estimated that 4392 cryptocurrency ATMs have been installed across 77 countries, with the US accounting for nearly 60% of them....

http://cryptotechnews.co/wp-content/uploads/2019/03/low-crypto-volumes.png

The cryptocurrency industry experienced a tough year in 2018 and this seems to be rolling over to 2019. Recently Diar, a crypto and blockchain research-based organisation, reported that crypto exchanges trading volumes were at their lowest in January 2019 compared to two years ago. At the same time Binance, the world’s leading crypto exchange, registered a 40% drop in its bitcoin and US dollars market, as contrasted with December 2018. Other key crypto exchanges across...

http://cryptotechnews.co/wp-content/uploads/2019/02/spanish-port-blockchain-1280x720.jpg

The Port Authority of the Bay of Algeciras (APBA), a major Spanish shipping port, recently signed up to use the Tradelens, the shipping platform developed by IBM. Tradelens was developed in conjunction with Maersk, the international logistics giant. Shipping and logistics are considered low hanging fruits when it comes to early adoption of blockchain-based features into daily operations. Retail giants such as Walmart and Carrefour have ramped up their supply chain management using blockchain, and...

http://cryptotechnews.co/wp-content/uploads/2019/02/private-bank-cryptocurrency-falcon-bank-1280x720.jpg

Utilization of cryptocurrencies and blockchain in the banking sector is not an entirely new concept. Banks around the globe have either reacted positively or negatively to crypto implementation. Blockchain technology has, however, evolved from being ignored and seen in a bad light, to providing innovative solutions in the banking industry. On realizing its potential, banks are finding ways to create applications that make transactions cheaper, faster and less complicated. Falcon’s Move Just recently, Falcon, a...

http://cryptotechnews.co/wp-content/uploads/2019/02/blockchain-mainstream-1280x720.jpg

One of the fascinating aspects of technology is its dynamic nature. This aspect has ensured that once mainstreamed, businesses have the option to embrace it or be edged out. Despite its numerous advantages and applications, mainstreaming of blockchain has had its fair share of challenges, more so in 2018 when the valuation of most cryptocurrencies fell substantially. However, a tech review published by the Massachusetts Institute of Technology (MIT) predicts a positive outlook for blockchain....

http://cryptotechnews.co/wp-content/uploads/2019/01/western-union-cryptocurrency.jpg

Western Union,  the global funds remittance giant is considering going paperless this year. In an interview with Reuters Plus, Odilon Almeida, Western Union President, said the company has been exploring ways to include cryptocurrencies in its services. The global funds transfer giant has also considered employing blockchain technology in its operations as a way of adding value to its services. Consumers do not have to own cryptocurrencies or digital wallets to access this service as...

http://cryptotechnews.co/wp-content/uploads/2019/01/new-perucoin-iamge1-700x400.png

According to the central bank of Peru, digital currencies pose a risk to investors because they are subject to high volatility and are vulnerable to fraud and the application of illegal financial activities. November last year, the central bank of Peru released a warning announcing that cryptocurrencies do not have the support of central banks as they are risky investments. Peru’s central bank made this announcement at a time when the cryptocurrency industry was going through...

http://cryptotechnews.co/wp-content/uploads/2018/12/image-from-rawpixel-id-1570-jpeg-1200x720.jpg

In traditional markets, regulators have ensured that there are systems in place to monitor, investigate and identify market manipulation efforts with a view of prosecuting individuals involved. In an ideal situation, markets need to be competitive where there are many buyers and sellers so that no single player can dictate or influence prices. This helps in creating public confidence, to increase trade and efficiency in transactions. But this is not always the case. Due to the...

http://cryptotechnews.co/wp-content/uploads/2019/01/rawpixel-656709-unsplash-e1546559029107-1280x720.jpg

Currently, the crypto market is primarily speculation-driven as retail investors choose startups based on their ability of their crypto product to add value. Cryptocurrencies are becoming essential to the global market. According to KPMG, they are indeed vital, but will take time before they reach their full potential. Because of their nature and unpredictability, KPMG  suggests virtual currencies will need the input of institutional investors to flourish in future. Institutional investors such as hedge and grant...