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Top 3 Signs the Crypto-Market is Bouncing Back

Could the Reasons Behind the Crypto-Market Fall be the Means for Its Recovery

by David Drake During the first quarter of 2018, the cryptomarket lost a little over 48% of its January 1 value. The market capitalization dropped from around $612 billion at the start of the year to $261 billion on March 31. Due to this drop, would-be investors who adopt a wait-and-see attitude and crypto critics may be quick to say the crypto bubble is true. But the downhill trend of cryptocurrencies is slowly coming to a halt. On April 8th, the cryptocurrency market cap increased slightly to $267.5 billion with corresponding increases in top 3 crypto coins – Bitcoin, Ethereum and Ripple. Many argue that strict regulations, unfolding scams, investing motto and new faces in the scene are the possible reasons for the market downturn. But it may also be true that these are the same reasons why the crypto market capitalization will soon get a boost. Crypto Regulations For ... Read More »

How the Fintech and Cryptocurrencies are Converging in the UK

How UK is Moving to the Forefront of Crypto and Blockchain Technology

by David Drake Days after Central Bank Governors and Finance Ministers of G-20 countries met last month, the UK Government launched its Fintech Sector Strategy. One of the strategies is to lay out the establishment of a new crypto-asset task force that will place the country “at the forefront of harnessing the potential benefits of the underlying technology, while guarding against potential risks.” Another strategy is a fintech bridge agreement signed by Australia and the U.K. This strategy will allow British fintech companies to sell their products and services to Australia, as well as to collaborate on policies and regulations affecting the fintech sector. UK Finance Minister Philip Hammond’s goal is to make the country a haven for fintech firms, and that a tech business will be established every half hour, instead of every hour. Will the new fintech sector strategy put the country at the forefront of crypto development? ... Read More »

How the UK is Solidifying Its Position as the Global Fintech Hub

UK Government Launches a Fintech Strategy to Boost its Crypto Industry

by David Drake Cryptocurrency and its underlying technology, blockchain, has become irresistible. The technology is rapidly changing the way businesses transact and has been credited with improving transaction efficiency significantly. Last month, global economic leaders objectively acknowledged the great ability and potential benefits of integrating cryptocurrency and blockchain in business models during the G20 Summit held in Buenos Aires, Argentina. This acknowledgement may have informed the decision by the UK government to launch its Fintech Sector Strategy just days after the summit. Upscaling the Crypto Industry One key aspect of the newly launched  strategy is the establishment of a crypto-asset taskforce whose mandate is to create policies and a regulatory framework for enhanced adoption of blockchain technology. Further, the taskforce will explore benefits of blockchain technology as well as the risks related to crypto-assets including the use of cryptocurrencies to fund illegal activities like terrorism and crypto scam projects. It ... Read More »

How Rising Competition is Forcing Countries to Rethink their Fintech Strategies

The Real Reason UK is Setting Up a Crypto Asset Task Force

by David Drake The UK government is now looking to make the country the most ideal place for businesses in the Fintech sector to flourish. To realize this, the country launched a strategy for the fintech sector last month. A key component of this new strategy is the setting up of a task force which comprises of representatives from the Financial Conduct Authority (FCA), Bank of England and the HM treasury. The crypto-assets task force is expected to advance the UK’s position as a digital currency leader and set up the necessary infrastructure to enable the monitoring of risks in the cryptocurrency space. A Positive Move Beyond monitoring risks, the task force is expected to help the country manage crypto-related risks while harnessing the benefits underlying the blockchain technology. This move is making fintech players in the country happy. Garth Howat, CEO of  Baanx says, “The new crypto-assets task force ... Read More »

What Ad Bans by Tech Companies Really Mean for the Cryptocurrency Industry

What Ad Bans by Tech Companies Really Mean for the Cryptocurrency Industry

by David Drake The cryptocurrency industry is longer preferred by some investors, but the market is expanding rapidly and everyone is talking about it. Many new, as well as established companies are considering incorporating blockchain technology in their business models. This move is generating immense interest from different investors, leading to a rise in the number of online cryptocurrency ads. But not all blockchain projects that are advertised online are genuine, some of them are scamming schemes aimed at defrauding vulnerable investors. In the recent past, several tech companies, including Google, Facebook, MailChimp, Twitter and LinkedIn have made changes to their advertising policies, effectively banning  crypto-related adverts, including initial coin offerings (ICOs), crypto wallets, crypto exchanges and crypto trading advice to protect their customers. China has been at the forefront of exerting a total ban on cryptocurrencies. Is there a way the country could have influenced the trail of ad ... Read More »

Crypto Ad Bans: Will the Move Taken by Google, Twitter and Facebook Shift the Crypto Landscape?

Crypto landscape

by David Drake In 2017, Google removed more than 3.2 billion ads that violated their policies, which averaged about 100 bad ads per second. 320,000 publishers were removed from the Google ad network for violating publisher policies. At the same time, 700,000 mobile apps and nearly 90,000 websites were blacklisted. Google also removed 2 million pages for policy violations last year. This year, the internet search engine giant has turned its heat on cryptocurrencies. Starting June 2018, Google has announced it will be banning all cryptocurrency-related advertisements across its sites. Google’s Director of Sustainable Ads, Scott Spencer, said the company has already updated its ad policies on unregulated financial products which include cryptocurrency exchanges, initial coin offerings, cryptocurrency wallets, and advice on cryptocurrency trading. According to Spencer, this is part of Google’s continuing efforts to safeguard the consumers from online scams. At the same time, Twitter has announced plans to ban crypto ... Read More »

How the Total Crypto Ad Ban Will Hinder Growth in the Virtual Currency Industry

How the Total Crypto Ad Ban Will Hinder Growth in the Virtual Currency Industry

by David Drake In January of this year, Facebook banned advertisements on cryptocurrency and initial coin offerings (ICOs) as well as binary options, as part of its efforts to prevent misleading information and practices. During the first half of March, Google announced that starting June 2018, it will ban all cryptocurrency-related advertisements on all of its sites. These include initial coin offerings, cryptocurrency exchanges and wallets as well as cryptocurrency trading advice. A few days ago, Twitter also announced a ban on cryptocurrency related advertisements on its site. Sky News reported that the recent decision on the crypto ban would be enforced within 2 weeks. The ban includes advertisements for token sales, ICOs, and cryptocurrency wallets around the world. In 2017, Google removed an average of 100 bad ads per second and 320,000 publishers from its ad network for violating policies, as well as blacklisting nearly 90,000 websites. Google also stopped 79 million ads ... Read More »

How Will the Crypto Ad Bans by Twitter and Google Shape the Future of Cryptocurrency?

What is the Future of Cryptocurrencies after the Crypto Ban by Google and Twitter Ban

by David Drake Many cryptocurrency experts were not surprised when Twitter and Google announced that they will be banning all crypto-related ads starting June 2018. Earlier this year,  social media giant, such as Facebook made a similar announcement. This plan, according to the tech giants , is intended to crackdown on crypto scams. Regulators in countries like the U.S., China, Japan and Russia, have been warning investors to be more vigilant about crypto investing schemes advertised on social media platforms. But for those who mean well for the cryptocurrency industry, this is  a welcome move to protect the industry and help it prosper. Scams in the Crypto Industry The popularity of cryptocurrency has been on the rise over the past few years and there are no indications it will stop any time soon. This rapid boom of the industry has attracted both legitimate and fraudulent activities or projects. The fact that the ... Read More »

Will Other Countries Adopt UK’s Approach of Developing Strategy for the Fintech Sector?

Will Other Countries Adopt UK’s Approach of Developing Strategy for the Fintech Sector

by David Drake The UK has recently been making strides in the cryptocurrency market. Earlier in the year, the UK treasury committee launched an enquiry into cryptocurrencies to determine how they would impact businesses and investors. In another significant move, the UK government developed its Fintech Sector Strategy (FSS) that factors crypto-assets and launched it on March 22, 2018. As part of its strategy, the government is establishing a crypto-asset task force in order to  tap into the potential benefits of blockchain technology while protecting itself from potential risks. Strategic Positioning According to Dr. Navjit Dhaliwal, the CEO at Iagon, the recent move by the UK government point to strategic position of the country as a global fintech leader. In his opinion, the country recognises that the underlying technology behind cryptocurrencies will revolutionise the financial sector in the world. “With the United Kingdom’s decision to launch it’s FSS focusing on the ... Read More »

Why the Crackdown on Exchanges Is Good for the Cryptocurrency Industry

Why the Crackdown on Exchanges Is Good for the Cryptocurrency Industry

by David Drake Regulators in different parts of the world have turned their attention to cryptocurrency exchanges. In Japan, the financial regulator, the Financial Services Authority (FSA), recently suspended operations in two crypto exchanges for a 30-day period. The agency also issued orders to five other digital exchanges, requiring them to improve their business operation systems. The five exchanges included CoinCheck,the cryptocurrency trading platform  that lost up to $530 million to hackers earlier this year. Similar Action In the US, the Securities and Exchange Commission (SEC) released a warning indicating that currently, cryptocurrency trading platforms are not regulated in the country.  As such, the commission says there is a risk that exchanges could do anything with the funds they obtain from investors. “More than 98% of the turnover of crypto assets occurs through centralized exchanges. This significantly speeds up and reduces the cost of conducting transactions, compared with decentralized exchanges. ... Read More »

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