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Colombia’s President Petitioned to Create Favorable Banking Environment

    By David Drake   Soon after Colombia’s President, Ivan Duque, took office and committed to create a favorable environment for cryptocurrencies to thrive, industry players are already challenging him to keep his word. Buda.com, one of the cryptocurrency exchanges in South America, has written to the President seeking assistance to resume business in the country after being forced to cease operations this past June. The letter signed by the general manager and the legal manager of the cryptocurrency exchange requests the President to nullify the blanket ban that was put into effect by the banking industry on businesses in the cryptocurrency space. Further, the exchange cited that the actions by banks have pushed numerous users into trading on peer-to-peer markets that are vulnerable to scams and fraud. Tech Revolution The cryptocurrency sees the ongoing ban as an attempt to hamper the revolution in the technological space in Colombia and ... Read More »

Why Colombia’s Move Could Make It the Next Crypto-Friendly Country

      By David Drake   The emergence of blockchain has presented huge opportunities for governments and businesses to enhance transparency, do away with intermediaries and reduce transaction costs. But beyond this, blockchain technology has fueled development of innovative solutions in different sectors. Some notable innovations include LiveTradr for portfolio optimization, Qupon for marketing of digital asset coupons and ONe Network for securing social media interactions, URAllowance for family smart contracts. Others are HFC Coin, a mortgage lending and investing platform for mortgage backed securities and Noiz Chain, a platform that is focused on interactive marketing. As the cryptocurrency industry grows, government interest in the industry is increasingly becoming evident. While some countries have reacted hastily to stifle the cryptocurrency industry in their borders, several governments have taken steps to create a conducive environment for the industry to thrive. One such country is Malta Island that has already put ... Read More »

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