Supreme Court of India Directs RBI to Unfreeze Koinex’s Crypto Account
The Honorable Supreme Court of India has directed the Reserve Bank of India (RBI) to unfreeze Koinex’s current account with the Central Bank of India, containing over INR 12 crore (or 120 million).
The directive came as a part of the Supreme Court’s judgment in the RBI vs. Internet and Mobile Association of India (IAMAI) matter, wherein Koinex (listed as Discidium Internet Labs Pvt. Ltd.), was petitioner no. 6 in Writ Petition 373 filed in 2018.
In 2018, when Koinex made an attempt to close their Central Bank of India account and requested a demand draft, they were informed that the matter had been referred to higher authorities or regulators and that the account had been frozen. In reply to Koinex’s petition, RBI stated it had not issued any direction to the Central Bank to freeze the account.
The Supreme Court saw RBI’s response to the incident as “lukewarm” and “wholly unjustified.” The judgment went on to clarify that since Koinex’s business activities were not declared to be explicitly unlawful, RBI was obliged to direct the Central Bank of India to “defreeze” the account and release the funds held within, together with the applicable interest rate.
Koinex Was Victim of RBI’s Crypto Ban
Crypto exchanges in India suffered considerably after RBI’s impugned April 2018 directive ring-fencing crypto, which was overturned by the Supreme Court of India yesterday.
Koinex, one of India’s largest cryptocurrency exchanges, fell victim to the nation’s war on digital currencies and closed its operations on June 27, 2019. RBI’s circular caused startups like Koinex considerable financial burden as they continued to operate despite regulatory hurdles.
In a blog post announcing the firm’s closure, Koinex co-founder Rahul Raj stated, “Multiple delays by the government agencies in clarifying the regulatory framework for cryptocurrencies despite our pending writ petition in the Supreme Court of India, coupled with regular disruption in our operations, the final decision has been taken after duly considering all the latest developments in the crypto and blockchain industry in India.”
Raj added that just because of their association with a digital assets exchange operator, their team was forced to answer questions utterly unrelated to crypto transactions, including those about their salaries, rents, and purchases. This, coupled with high costs of operations and consistent denials in accessing payment services, had made continued business economically unfeasible.
Before RBI’s unconstitutional directive, the crypto market in India was worth over $12.9 billion, with crypto exchanges growing at an astronomical rate. However, this growth was short-lived and stalled with the materialization of restrictions on banking institutions that exchanges were dependent upon deeply.
The Supreme Court’s verdict is thus enthusiastically welcomed by digital asset exchange platforms, with many hoping that it will boost the industry once again.
The Honorable Supreme Court of India has directed the Reserve Bank of India (RBI) to unfreeze Koinex’s current account with the Central Bank of India, containing over INR 12 crore (or 120 million).
The directive came as a part of the Supreme Court’s judgment in the RBI vs. Internet and Mobile Association of India (IAMAI) matter, wherein Koinex (listed as Discidium Internet Labs Pvt. Ltd.), was petitioner no. 6 in Writ Petition 373 filed in 2018.
In 2018, when Koinex made an attempt to close their Central Bank of India account and requested a demand draft, they were informed that the matter had been referred to higher authorities or regulators and that the account had been frozen. In reply to Koinex’s petition, RBI stated it had not issued any direction to the Central Bank to freeze the account.
The Supreme Court saw RBI’s response to the incident as “lukewarm” and “wholly unjustified.” The judgment went on to clarify that since Koinex’s business activities were not declared to be explicitly unlawful, RBI was obliged to direct the Central Bank of India to “defreeze” the account and release the funds held within, together with the applicable interest rate.
Koinex Was Victim of RBI’s Crypto Ban
Crypto exchanges in India suffered considerably after RBI’s impugned April 2018 directive ring-fencing crypto, which was overturned by the Supreme Court of India yesterday.
Koinex, one of India’s largest cryptocurrency exchanges, fell victim to the nation’s war on digital currencies and closed its operations on June 27, 2019. RBI’s circular caused startups like Koinex considerable financial burden as they continued to operate despite regulatory hurdles.
In a blog post announcing the firm’s closure, Koinex co-founder Rahul Raj stated, “Multiple delays by the government agencies in clarifying the regulatory framework for cryptocurrencies despite our pending writ petition in the Supreme Court of India, coupled with regular disruption in our operations, the final decision has been taken after duly considering all the latest developments in the crypto and blockchain industry in India.”
Raj added that just because of their association with a digital assets exchange operator, their team was forced to answer questions utterly unrelated to crypto transactions, including those about their salaries, rents, and purchases. This, coupled with high costs of operations and consistent denials in accessing payment services, had made continued business economically unfeasible.
Before RBI’s unconstitutional directive, the crypto market in India was worth over $12.9 billion, with crypto exchanges growing at an astronomical rate. However, this growth was short-lived and stalled with the materialization of restrictions on banking institutions that exchanges were dependent upon deeply.
The Supreme Court’s verdict is thus enthusiastically welcomed by digital asset exchange platforms, with many hoping that it will boost the industry once again.
Steemit: the First Crypto Based Blogging Platform
Steemit is a very popular blockchain-based blogging platform and social media website that rewards its users with its own cryptocurrency called ‘STEEM’, for publishing or curating any content on its website. The website is owned by a New York-based company named, Steemit. Inc, having its headquarters in Virginia. Steemit. Inc uses blockchain to develop cryptocurrencies to support and monetize social media sites. It is the only social blockchain that has the potential to power real applications via social apps called Steemit. The Steem blockchain and steemit.com, both are the brainchild of Steemit.Inc. The company came up with its first launch of the blockchain-based website on July 4, 2016. But the journey of the company was not smooth since its inception in 2016. Soon after its launch, the website was hacked which resulted in the price drop of STEEM. There was a huge financial crisis in the company for which the company had to lay off 70% of its employees.
How does it work?
Steemit is built upon the Steem Blockchain and is designed as a decentralized application (DApp). Users are rewarded with the company’s own built cryptocurrency STEEM. Users decide the payout of the posts by voting on the various comments and posts made by other users. Users are also rewarded with the “Curation Rewards” for upvoting and finding content other users’ upvote afterward.
Steemit cryptocurrency is similar to other currencies like Bitcoin and Ethereum as it can also be traded, purchased and sold in the open crypto market like other digital currencies. New Steemit currency units are created every day by the network and are distributed to those users who are the most engaged ones. Therefore, the more users engage themselves to the website, the more are their chances to win. Steemit pays both; the content creators as well as the best curators who curate the best content by upvoting the work of the other contributors. They are rewarded for curating the best content available on the website.
Steemit Joins TRON Ecosystem
Steemit Inc. has recently announced a strategic partnership with TRON Foundation, another decentralized ecosystem that provides fast network speed, high stability, and scalability. The partnership aims at bringing Steemit and other Steem based blockchain DApps into the TRON ecosystem comprising of over 20 million users, products, and services.
Prior to inking this partnership with Steemit, TRON has also partnered with top market players like Samsung, Opera, Poloniex with an aim to provide value propositions to its community members and investors. Talking about the recent collaboration, the CEO and founder of Steemit, Ned Scott said, “Steemit is the original conception where forums meeting cryptocurrency was born — where cryptocurrency could be distributed as easily as ‘likes’ and ‘upvotes’ and that maybe this would bring adoption and appreciation to the currency. From launching the platform in 2016 on a shoestring budget with an idealistic team to today, I’ve enjoyed the development of the platform and the growth of its user base — now I’m excited to see a strategic partner attempt to bring it to new heights.”
Therefore, STEEM has come up a long way, in revolutionizing the way in which people perceive decentralized technologies. It is a blockchain-based database, that supports social interaction and community building by rewarding cryptocurrencies that can be traded.
Steemit is a very popular blockchain-based blogging platform and social media website that rewards its users with its own cryptocurrency called ‘STEEM’, for publishing or curating any content on its website. The website is owned by a New York-based company named, Steemit. Inc, having its headquarters in Virginia. Steemit. Inc uses blockchain to develop cryptocurrencies to support and monetize social media sites. It is the only social blockchain that has the potential to power real applications via social apps called Steemit. The Steem blockchain and steemit.com, both are the brainchild of Steemit.Inc. The company came up with its first launch of the blockchain-based website on July 4, 2016. But the journey of the company was not smooth since its inception in 2016. Soon after its launch, the website was hacked which resulted in the price drop of STEEM. There was a huge financial crisis in the company for which the company had to lay off 70% of its employees.
How does it work?
Steemit is built upon the Steem Blockchain and is designed as a decentralized application (DApp). Users are rewarded with the company’s own built cryptocurrency STEEM. Users decide the payout of the posts by voting on the various comments and posts made by other users. Users are also rewarded with the “Curation Rewards” for upvoting and finding content other users’ upvote afterward.
Steemit cryptocurrency is similar to other currencies like Bitcoin and Ethereum as it can also be traded, purchased and sold in the open crypto market like other digital currencies. New Steemit currency units are created every day by the network and are distributed to those users who are the most engaged ones. Therefore, the more users engage themselves to the website, the more are their chances to win. Steemit pays both; the content creators as well as the best curators who curate the best content by upvoting the work of the other contributors. They are rewarded for curating the best content available on the website.
Steemit Joins TRON Ecosystem
Steemit Inc. has recently announced a strategic partnership with TRON Foundation, another decentralized ecosystem that provides fast network speed, high stability, and scalability. The partnership aims at bringing Steemit and other Steem based blockchain DApps into the TRON ecosystem comprising of over 20 million users, products, and services.
Prior to inking this partnership with Steemit, TRON has also partnered with top market players like Samsung, Opera, Poloniex with an aim to provide value propositions to its community members and investors. Talking about the recent collaboration, the CEO and founder of Steemit, Ned Scott said, “Steemit is the original conception where forums meeting cryptocurrency was born — where cryptocurrency could be distributed as easily as ‘likes’ and ‘upvotes’ and that maybe this would bring adoption and appreciation to the currency. From launching the platform in 2016 on a shoestring budget with an idealistic team to today, I’ve enjoyed the development of the platform and the growth of its user base — now I’m excited to see a strategic partner attempt to bring it to new heights.”
Therefore, STEEM has come up a long way, in revolutionizing the way in which people perceive decentralized technologies. It is a blockchain-based database, that supports social interaction and community building by rewarding cryptocurrencies that can be traded.
The Possible Impacts of Coronavirus on Crypto World
The outbreak of the coronavirus has its repercussions on the global economy. The infectious disease is also affecting the overall ecosystem of the cryptocurrency and its impact on the prices of the digital coins is quite apparent now. Although it is difficult to say with certainty whether that coronavirus is positively or negatively affecting the prices of digital coins, it is a general opinion among the crypto experts, enthusiasts, and analysts that this infectious disease is likely to have a positive impact on the adoption of cryptocurrencies among the masses.
Exploring Positive Impact
One of the effective remedies adopted by China for stopping the spread of coronavirus, which is now being followed across the globe, is the Quarantine procedures. In fact, Chinese authorities have gone one step further and are using UV light and high-temperature mechanisms on currency notes to stop the spread of the virus. People, too, are relying more on the internet while staying away from the currency notes. This trend is likely to boost the adoption of digital coins among the larger section of the population, which, in turn, will help the prices of the Bitcoin and other digital currencies to go up and yield profitable returns for the investors.
Stablecoins: Real beneficiary
More specifically, we have witnessed an increased interest in the stablecoins after the outbreak of the coronavirus. This may be attributed to the fact that stablecoins have less price volatility than digital coins and people are more confident about their future value than Bitcoin and other digital currencies. People across the globe are patronizing stablecoins amid virus outbreak and using them for their buying or selling activities in addition to accomplishing a number of other different tasks.
Impact on Cryptocurrency Mining
One area where the impact of the coronavirus could prove to be harmful to the digital currencies is their mining operations. This is because China has around 70% share in the Bitcoin mining thanks to the availability of the cheap electricity and robust technological prowess. And now, with authorities ordering a clampdown in order to contain the spread of the virus, the mining operations have been hit adversely. Now it is quite probable that because of the constraint supply, prices of Bitcoin and other cryptocurrencies might increase, but then the extreme shortage of the digital currencies could also have the potential to backfire. The tendency of hoarding might creep in the system, which will send a wrong signal to investors and potential adopters in the long run.
Conclusion
Despite speculations around the coronavirus and its possible impact on Bitcoin and other digital currencies, experts are quite unanimous in their view that this tragedy might help the case of digital coins. Cryptocurrencies will emerge stronger and their claim to be a credible alternative to the conventional monetary system helmed by central Banks and financial institutions will be strengthened. The full impact of this virus and its impacts on socio-economic parameters will only be ascertained once experts get accurate figures, but the adoption of digital currencies will likely gain momentum due to this highly contagious virus.
The outbreak of the coronavirus has its repercussions on the global economy. The infectious disease is also affecting the overall ecosystem of the cryptocurrency and its impact on the prices of the digital coins is quite apparent now. Although it is difficult to say with certainty whether that coronavirus is positively or negatively affecting the prices of digital coins, it is a general opinion among the crypto experts, enthusiasts, and analysts that this infectious disease is likely to have a positive impact on the adoption of cryptocurrencies among the masses.
Exploring Positive Impact
One of the effective remedies adopted by China for stopping the spread of coronavirus, which is now being followed across the globe, is the Quarantine procedures. In fact, Chinese authorities have gone one step further and are using UV light and high-temperature mechanisms on currency notes to stop the spread of the virus. People, too, are relying more on the internet while staying away from the currency notes. This trend is likely to boost the adoption of digital coins among the larger section of the population, which, in turn, will help the prices of the Bitcoin and other digital currencies to go up and yield profitable returns for the investors.
Stablecoins: Real beneficiary
More specifically, we have witnessed an increased interest in the stablecoins after the outbreak of the coronavirus. This may be attributed to the fact that stablecoins have less price volatility than digital coins and people are more confident about their future value than Bitcoin and other digital currencies. People across the globe are patronizing stablecoins amid virus outbreak and using them for their buying or selling activities in addition to accomplishing a number of other different tasks.
Impact on Cryptocurrency Mining
One area where the impact of the coronavirus could prove to be harmful to the digital currencies is their mining operations. This is because China has around 70% share in the Bitcoin mining thanks to the availability of the cheap electricity and robust technological prowess. And now, with authorities ordering a clampdown in order to contain the spread of the virus, the mining operations have been hit adversely. Now it is quite probable that because of the constraint supply, prices of Bitcoin and other cryptocurrencies might increase, but then the extreme shortage of the digital currencies could also have the potential to backfire. The tendency of hoarding might creep in the system, which will send a wrong signal to investors and potential adopters in the long run.
Conclusion
Despite speculations around the coronavirus and its possible impact on Bitcoin and other digital currencies, experts are quite unanimous in their view that this tragedy might help the case of digital coins. Cryptocurrencies will emerge stronger and their claim to be a credible alternative to the conventional monetary system helmed by central Banks and financial institutions will be strengthened. The full impact of this virus and its impacts on socio-economic parameters will only be ascertained once experts get accurate figures, but the adoption of digital currencies will likely gain momentum due to this highly contagious virus.
Covid19 Hampers Finance, Technology & Crypto Events
Today the world is dealing with the outbreak of one of the deadliest epidemic attacks, the attack of Coronavirus. What showed its first glimpse in the Chinese district of Wuhan is now fast leaving its imprints across the global boundaries. The increasing death rate caused by COVID-19 (Coronavirus) around the world has aggravated the situation manifold times with governments struggling to ensure the safety of their citizens in the best possible manner.
Apart from the health crisis, the disease has also played an important role in negatively affecting the global economy. Business operations, trading activities, tourism, transportation, etc. have been suffering badly because of the sudden outbreak. Various global-level conferences, meetings, and seminars have been put on hold or had to be canceled because of the disruptions caused by the Coronavirus outbreak. This has given a major jolt to the finance and industrial arena. Given below is a list of the crypto conferences which had been rescheduled or canceled because of the epidemic, have a look:
The Bitcoin Reformation- Taking place in the beautiful country of Belgium, the Bitcoin Reformation conference is all set to welcome the crypto enthusiasts from different parts of the world to come and discuss the importance of decentralization, smart contracts, and virtual currencies. Owing to the corona outbreak, the event has been rescheduled to take place in the fourth quarter of 2020.
The ANON Summit- The dates of the ANON Summit have been pushed back and the event will now be happening on October 21 and October 22 in Vienna. It will be hosting a massive gathering of more than 1500 attendees and 50 renowned keynote speakers belonging to the industry.
Convergence India 2020– The 28th edition of Convergence India 2020 conference is slated to take place between July 7, 2020, to July 9, 2020, at Pragati Maidan, New Delhi. The event will bring prominent names of the technology industry under one roof who will explore the potentialities of the new-age technologies such as blockchain, 5G, smart contracts, AI, etc.
Edge Europe- Citing the Coronavirus outbreak as the prime reason, the organizers of the Edge Europe conference have shifted the venue of the event to Monaco from the earlier destination of Frankfurt. The event will now take place between June 2 to June 4.
Finnovex Middle East 2020- The Finnovex Middle East 2020 event, along with the Finnovex Awards 2020 have been rescheduled to take place on September 22 and September 23 at Conrad Dubai. The widespread risk of Coronavirus is the prime reason for the changes in the event.
Mines and Money Asia 2020- Owing to the safety concerns caused by the corona outbreak, the organizers of the Mines and Money Asia 2020 have postponed the global event. The team shall announce the new dates in the near future.
Strata Data and AI Conference- The Strata Data and AI San Jose event has been merged with the bigger New York-based Strata Data and AI conference due to corona spread. The event is slated to take place between September 14-17, 2020.
Google I/O Conference- The leading search engine platform has announced the cancellation of the annual developer conference, I/O 2020, because of the COVID-19 epidemic. Earlier, Google canceled the Cloud Next Event, which was to take place in San Francisco. The firm has also canceled the Google News Initiative Summit scheduled to take place in late April in California.
Adobe Summit- Scheduled to take place between March 29 and April 2 in Las Vegas, the Adobe Summit has been canceled by the firm citing health concerns of its employees and attendees due to Coronavirus attack. Only the event will be accessible in the online mode.
Microsoft MVP Global Summit- The event was scheduled to take place in Bellevue and Redmond, Washington, D.C, between March 15 to March 20. The corona attack has forced the organizers to cancel the event. The event will be accessible online.
Today the world is dealing with the outbreak of one of the deadliest epidemic attacks, the attack of Coronavirus. What showed its first glimpse in the Chinese district of Wuhan is now fast leaving its imprints across the global boundaries. The increasing death rate caused by COVID-19 (Coronavirus) around the world has aggravated the situation manifold times with governments struggling to ensure the safety of their citizens in the best possible manner.
Apart from the health crisis, the disease has also played an important role in negatively affecting the global economy. Business operations, trading activities, tourism, transportation, etc. have been suffering badly because of the sudden outbreak. Various global-level conferences, meetings, and seminars have been put on hold or had to be canceled because of the disruptions caused by the Coronavirus outbreak. This has given a major jolt to the finance and industrial arena. Given below is a list of the crypto conferences which had been rescheduled or canceled because of the epidemic, have a look:
The Bitcoin Reformation- Taking place in the beautiful country of Belgium, the Bitcoin Reformation conference is all set to welcome the crypto enthusiasts from different parts of the world to come and discuss the importance of decentralization, smart contracts, and virtual currencies. Owing to the corona outbreak, the event has been rescheduled to take place in the fourth quarter of 2020.
The ANON Summit- The dates of the ANON Summit have been pushed back and the event will now be happening on October 21 and October 22 in Vienna. It will be hosting a massive gathering of more than 1500 attendees and 50 renowned keynote speakers belonging to the industry.
Convergence India 2020– The 28th edition of Convergence India 2020 conference is slated to take place between July 7, 2020, to July 9, 2020, at Pragati Maidan, New Delhi. The event will bring prominent names of the technology industry under one roof who will explore the potentialities of the new-age technologies such as blockchain, 5G, smart contracts, AI, etc.
Edge Europe- Citing the Coronavirus outbreak as the prime reason, the organizers of the Edge Europe conference have shifted the venue of the event to Monaco from the earlier destination of Frankfurt. The event will now take place between June 2 to June 4.
Finnovex Middle East 2020- The Finnovex Middle East 2020 event, along with the Finnovex Awards 2020 have been rescheduled to take place on September 22 and September 23 at Conrad Dubai. The widespread risk of Coronavirus is the prime reason for the changes in the event.
Mines and Money Asia 2020- Owing to the safety concerns caused by the corona outbreak, the organizers of the Mines and Money Asia 2020 have postponed the global event. The team shall announce the new dates in the near future.
Strata Data and AI Conference- The Strata Data and AI San Jose event has been merged with the bigger New York-based Strata Data and AI conference due to corona spread. The event is slated to take place between September 14-17, 2020.
Google I/O Conference- The leading search engine platform has announced the cancellation of the annual developer conference, I/O 2020, because of the COVID-19 epidemic. Earlier, Google canceled the Cloud Next Event, which was to take place in San Francisco. The firm has also canceled the Google News Initiative Summit scheduled to take place in late April in California.
Adobe Summit- Scheduled to take place between March 29 and April 2 in Las Vegas, the Adobe Summit has been canceled by the firm citing health concerns of its employees and attendees due to Coronavirus attack. Only the event will be accessible in the online mode.
Microsoft MVP Global Summit- The event was scheduled to take place in Bellevue and Redmond, Washington, D.C, between March 15 to March 20. The corona attack has forced the organizers to cancel the event. The event will be accessible online.
A Detailed Analysis of Coronacoin and Its Role in Battling Coronavirus
Where on January 1, 2020, the world entered a new decade with promising hopes, aspirations, and happiness, presently it is reeling under the plight of the deadly Coronavirus, which has created havoc across the globe. Wuhan, a Chinese province, was the first region to experience the attack of Coronavirus with the death toll reaching an all-time high within a few weeks of the outbreak. Slowly and gradually, countries from around the world found citizens suffering from severe disease. In no time, it was addressed as an epidemic enveloping nearly 43 nations and territories in its clasp. The reports stated that the global corona infections recorded stood tall at a figure of 81,278 people with a whopping 2,770 recorded deaths.
The unfavorable coronavirus outbreak has taken a major toll on the global economic scenario, with business operations getting halted on a worldwide scale. Border closures, large-scale quarantines, stock market crashes, trade stoppage, etc. are some of the significant outcomes of the corona attack. Interestingly, governments and people from around the world have shown a great deed of support for Wuhan as well as other affected regions by supplying healthcare tools, medicines, instruments, etc. The cryptocurrency industry has been quite active in lending the necessary support to the recovery initiatives carried upon around the world. This need for helping the society led to the formation of a revolutionary crypto token named Coronacoin.
About Coronacoin
Taking pride being one of the most radical, valuable, and efficient additions to the crypto world, the Coronacoin is a one-of-a-kind currency that has the potential to leverage the relief operations fruitfully. The ERC-20 token stores coronavirus infections and deaths on the blockchain network with a token burn. Based on the statistics released by the World Health Organization, Coronacoin is the first-ever currency to be backed by the proof of death (PoD). About 20% of the tokens have been reserved for making donations to the Red Cross for their relief operations around the world. The Coronacoin team chose the Ethereum network owing to its popularity amongst the DApp developers and crypto enthusiasts.
Important Features Of Coronacoins
There exists a fixed number of Coronacoins in the world, i.e., 7,604,953,650, the figure which is equal to the world population at the time of minting the tokens.
The ticker symbol for the Coronacoin is $nCoV, which is quite similar to the virus name.
As and when the number of patients suffering from the Coronavirus or the death rate will move upwards, the number of tokens shall be manually burned every 48 hours. This implies that for every one infection/death, one Coronacoin shall be burned.
Coronacoins are deflationary in nature and their number will continue to fall over time while eventually giving the currency a momentum in its value.
The overall supply of the token is non-mintable, which indicates that no new set of Coronacoins can ever be created in the future.
As the data related to the deaths and infections are recorded on the blockchain, it enables data to enter authoritarian countries uncensored. This helps people to get complete information about the virus, giving them a chance to prepare themselves accordingly.
The dedicated team of professionals working behind the Coronacoin is striving to come up with decentralized applications that will be integrated with the token. Efforts are being made to create more awareness about the project. Apart from the DApp, the team is likely to unveil an educational strategy game that will employ the player’s public keys for player attributes in the near future.
Where on January 1, 2020, the world entered a new decade with promising hopes, aspirations, and happiness, presently it is reeling under the plight of the deadly Coronavirus, which has created havoc across the globe. Wuhan, a Chinese province, was the first region to experience the attack of Coronavirus with the death toll reaching an all-time high within a few weeks of the outbreak. Slowly and gradually, countries from around the world found citizens suffering from severe disease. In no time, it was addressed as an epidemic enveloping nearly 43 nations and territories in its clasp. The reports stated that the global corona infections recorded stood tall at a figure of 81,278 people with a whopping 2,770 recorded deaths.
The unfavorable coronavirus outbreak has taken a major toll on the global economic scenario, with business operations getting halted on a worldwide scale. Border closures, large-scale quarantines, stock market crashes, trade stoppage, etc. are some of the significant outcomes of the corona attack. Interestingly, governments and people from around the world have shown a great deed of support for Wuhan as well as other affected regions by supplying healthcare tools, medicines, instruments, etc. The cryptocurrency industry has been quite active in lending the necessary support to the recovery initiatives carried upon around the world. This need for helping the society led to the formation of a revolutionary crypto token named Coronacoin.
About Coronacoin
Taking pride being one of the most radical, valuable, and efficient additions to the crypto world, the Coronacoin is a one-of-a-kind currency that has the potential to leverage the relief operations fruitfully. The ERC-20 token stores coronavirus infections and deaths on the blockchain network with a token burn. Based on the statistics released by the World Health Organization, Coronacoin is the first-ever currency to be backed by the proof of death (PoD). About 20% of the tokens have been reserved for making donations to the Red Cross for their relief operations around the world. The Coronacoin team chose the Ethereum network owing to its popularity amongst the DApp developers and crypto enthusiasts.
Important Features Of Coronacoins
There exists a fixed number of Coronacoins in the world, i.e., 7,604,953,650, the figure which is equal to the world population at the time of minting the tokens.
The ticker symbol for the Coronacoin is $nCoV, which is quite similar to the virus name.
As and when the number of patients suffering from the Coronavirus or the death rate will move upwards, the number of tokens shall be manually burned every 48 hours. This implies that for every one infection/death, one Coronacoin shall be burned.
Coronacoins are deflationary in nature and their number will continue to fall over time while eventually giving the currency a momentum in its value.
The overall supply of the token is non-mintable, which indicates that no new set of Coronacoins can ever be created in the future.
As the data related to the deaths and infections are recorded on the blockchain, it enables data to enter authoritarian countries uncensored. This helps people to get complete information about the virus, giving them a chance to prepare themselves accordingly.
The dedicated team of professionals working behind the Coronacoin is striving to come up with decentralized applications that will be integrated with the token. Efforts are being made to create more awareness about the project. Apart from the DApp, the team is likely to unveil an educational strategy game that will employ the player’s public keys for player attributes in the near future.
F2Pool – Leading Mining Pool for Bitcoin, Ethereum and Cryptocurrencies
F2Pool can be described as the world’s leading cryptocurrency mining pool for several leading cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. F2Pool is the oldest mining pool and is based in China; presently it is the largest multi-currency mining pool around the world. F2Pool mines around 17% of all the blocks. F2Pool serves more than 100 countries and it is ranked as top 3 mining pool operator by more than 20 networks. They have played an important part in securing the blockchain infrastructure and educating the global community concerning cryptocurrency mining.
F2Pool Features
F2Pool is popularly known as Discus fish, a Chinese mining pool that permits users to mine LTC, BTC, ETH, ZEC, SC, ETC, XMR, DASH, XMC, XMR, XZC, DCR and XVG.
By using F2Pool, users can mine NMC (Namecoin) + SYS (Syscoin) for Bitcoin mining and Dogecoin (DOGE) for mining LTC.
F2Pool was founded in 2013, and it is one of the earliest mining pools which had established itself as one of the pioneers in the mining industry.
F2Pool supports mining for over 40 digital currencies; and is the world’s biggest mining pool for LTC, BTC, ZEC, and ETH.
F2Pool uses world-leading technology, a transparent revenue system, and unique architecture which helps in effectively preventing DDoS (Distributed Denial of Service) attacks.
F2Pool in 2014, was available not only for mining Bitcoin but also for several other popular altcoins. This project was initiated by the Chinese investor which is currently headquartered in China.
F2Pool – The Recent News
Launched Handshake (HNS) Mining Pool
Handshake, a 10.2 million dollar decentralized domain name project, is supported by popular investors which include Sequoia Capital, SV Angel, and Andreessen Horowitz. The handshake can be described as a permissionless, decentralized naming protocol where every counterpart validates and takes charge of managing the root DNS naming zone; with the end goal of developing an alternative to the present naming systems and certificate authorities.
KDA (Kadena) was officially launched in F2Pool
On 5th February, KDA (Kadena) was officially launched in the F2Pool. KDA is a public blockchain with the high-performance PoW (Proof-of-work) system that includes the benefits of ChainWeb technology. Moreover, the KDA platform integrates private blockchains, public apps and several other well-matched blockchains in one place. Furthermore, KDA is a token that is utilized as compensation for miners. It is a fee that the user pays for adding the transactions in the block.
Wrap up
F2 is a leading mining pool, has an association of miners, where every miner contributes to the power of the computer to detect the blocks. There are more than 2 million users active in the pool, where 50% are Chinese users. Also, the reward for mining is that the users will get a reward of 3% for using the F2Pool. Succinctly, this is the exclusive pool operating for P2P payments. The withdrawal fees in the F2Pool do not go beyond 4% and it also pays daily, which are subsequently sent to F2Pool’s wallet
F2Pool can be described as the world’s leading cryptocurrency mining pool for several leading cryptocurrencies such as Bitcoin, Ethereum, and Litecoin. F2Pool is the oldest mining pool and is based in China; presently it is the largest multi-currency mining pool around the world. F2Pool mines around 17% of all the blocks. F2Pool serves more than 100 countries and it is ranked as top 3 mining pool operator by more than 20 networks. They have played an important part in securing the blockchain infrastructure and educating the global community concerning cryptocurrency mining.
F2Pool Features
F2Pool is popularly known as Discus fish, a Chinese mining pool that permits users to mine LTC, BTC, ETH, ZEC, SC, ETC, XMR, DASH, XMC, XMR, XZC, DCR and XVG.
By using F2Pool, users can mine NMC (Namecoin) + SYS (Syscoin) for Bitcoin mining and Dogecoin (DOGE) for mining LTC.
F2Pool was founded in 2013, and it is one of the earliest mining pools which had established itself as one of the pioneers in the mining industry.
F2Pool supports mining for over 40 digital currencies; and is the world’s biggest mining pool for LTC, BTC, ZEC, and ETH.
F2Pool uses world-leading technology, a transparent revenue system, and unique architecture which helps in effectively preventing DDoS (Distributed Denial of Service) attacks.
F2Pool in 2014, was available not only for mining Bitcoin but also for several other popular altcoins. This project was initiated by the Chinese investor which is currently headquartered in China.
F2Pool – The Recent News
Launched Handshake (HNS) Mining Pool
Handshake, a 10.2 million dollar decentralized domain name project, is supported by popular investors which include Sequoia Capital, SV Angel, and Andreessen Horowitz. The handshake can be described as a permissionless, decentralized naming protocol where every counterpart validates and takes charge of managing the root DNS naming zone; with the end goal of developing an alternative to the present naming systems and certificate authorities.
KDA (Kadena) was officially launched in F2Pool
On 5th February, KDA (Kadena) was officially launched in the F2Pool. KDA is a public blockchain with the high-performance PoW (Proof-of-work) system that includes the benefits of ChainWeb technology. Moreover, the KDA platform integrates private blockchains, public apps and several other well-matched blockchains in one place. Furthermore, KDA is a token that is utilized as compensation for miners. It is a fee that the user pays for adding the transactions in the block.
Wrap up
F2 is a leading mining pool, has an association of miners, where every miner contributes to the power of the computer to detect the blocks. There are more than 2 million users active in the pool, where 50% are Chinese users. Also, the reward for mining is that the users will get a reward of 3% for using the F2Pool. Succinctly, this is the exclusive pool operating for P2P payments. The withdrawal fees in the F2Pool do not go beyond 4% and it also pays daily, which are subsequently sent to F2Pool’s wallet
Crypto Advocate Kashif Raza Highlights Need to Safeguard Newcomers’ Interests
The crypto market witnessed a catastrophic loss two days back which led to creating a massive loss for the investors. Bitcoin came down by 29.71% overnight. It traded at $7967 dollars on March 11, 2020, and the next day the price witnessed a downfall at $5600. Amidst this, the king of crypto even visited a bottom around $3800, which marked a 50% regression in less than 24 hours resulting in an epic sell-off.
Regular investors in many of the world’s financial markets are panicking to sell everything as they fear the market uncertainty.
On the lines of “Safeguarding Newcomer Interests,” the Indian crypto regulatory news and analysis platform Crypto Kanoon tweeted a video featuring their Co-Founder, Kashif Raza talking about how the market crash has affected the newcomers of the crypto market.
Why is it Needed to Safeguard Newcomers’ Interest?
As per Kashif Raza, in the absence of any regulation, the users of cryptocurrency share the responsibility to safeguard the interests of newbies. It is time to find out innovative ways to do it.
There has been a surge of new investors after the Supreme Court of India lifted the ban on crypto trading. Several crypto enthusiasts from India have been excited to make investments. The crypto market has recently witnessed a crash and it is speculated that it is a historic one.
Ever since crypto trading was legalized in India, a lot of new registrations have taken place on different cryptocurrency exchange platforms. It can’t be denied that it is a good move by the citizens as they are opening up to new technological advancements. But, what about market awareness? How much do novice investors know about it? How prepared are they to witness a crash?
The excitement people have to make investments in Bitcoin is justified. But on the whole, as responsible citizens and also experienced investors we have to make certain regulations on how and to what extent one must invest in crypto, based on the current market status. This is to ensure that the newcomers do not suffer excessive losses.
Indians Might Not Encourage Each Other to Invest in Crypto! Here’s Why.
On talking about how the market crash can discourage people to invest in crypto, Raza seems to be worried about the losses new investors are suffering from. It’s quite evident that the investment made in crypto is not a matter of doing things just like that. Experiencing a massive market crash just days after they ventured into the crypto world, can indeed be heartbreaking.
Now the case is, would someone recommend investing in crypto at a time when they themselves are experiencing massive losses. This downfall in the crypto market can lead to a lot of people being disinterested to make digital currency a priority. Leading to the discouragement of the crypto market.
What Can We Do?
On talking about the same, Raza stated that there are multiple ways how this can be solved. In the absence of a central authority, it is obvious that blockchain technology will not have an authorized regulation that is to be followed strictly before making any transactions.
Raza believes that exchange platforms should come up with some stringent norms to be followed before investors initiate trading on their platform. For instance, making it mandatory to read the risk modules before investing. Moreover, limiting the investment amount for the newcomers for a particular time period (until they are completely aware of the crypto trading space) can be another good alternative.
The crypto market witnessed a catastrophic loss two days back which led to creating a massive loss for the investors. Bitcoin came down by 29.71% overnight. It traded at $7967 dollars on March 11, 2020, and the next day the price witnessed a downfall at $5600. Amidst this, the king of crypto even visited a bottom around $3800, which marked a 50% regression in less than 24 hours resulting in an epic sell-off.
Regular investors in many of the world’s financial markets are panicking to sell everything as they fear the market uncertainty.
On the lines of “Safeguarding Newcomer Interests,” the Indian crypto regulatory news and analysis platform Crypto Kanoon tweeted a video featuring their Co-Founder, Kashif Raza talking about how the market crash has affected the newcomers of the crypto market.
Why is it Needed to Safeguard Newcomers’ Interest?
As per Kashif Raza, in the absence of any regulation, the users of cryptocurrency share the responsibility to safeguard the interests of newbies. It is time to find out innovative ways to do it.
There has been a surge of new investors after the Supreme Court of India lifted the ban on crypto trading. Several crypto enthusiasts from India have been excited to make investments. The crypto market has recently witnessed a crash and it is speculated that it is a historic one.
Ever since crypto trading was legalized in India, a lot of new registrations have taken place on different cryptocurrency exchange platforms. It can’t be denied that it is a good move by the citizens as they are opening up to new technological advancements. But, what about market awareness? How much do novice investors know about it? How prepared are they to witness a crash?
The excitement people have to make investments in Bitcoin is justified. But on the whole, as responsible citizens and also experienced investors we have to make certain regulations on how and to what extent one must invest in crypto, based on the current market status. This is to ensure that the newcomers do not suffer excessive losses.
Indians Might Not Encourage Each Other to Invest in Crypto! Here’s Why.
On talking about how the market crash can discourage people to invest in crypto, Raza seems to be worried about the losses new investors are suffering from. It’s quite evident that the investment made in crypto is not a matter of doing things just like that. Experiencing a massive market crash just days after they ventured into the crypto world, can indeed be heartbreaking.
Now the case is, would someone recommend investing in crypto at a time when they themselves are experiencing massive losses. This downfall in the crypto market can lead to a lot of people being disinterested to make digital currency a priority. Leading to the discouragement of the crypto market.
What Can We Do?
On talking about the same, Raza stated that there are multiple ways how this can be solved. In the absence of a central authority, it is obvious that blockchain technology will not have an authorized regulation that is to be followed strictly before making any transactions.
Raza believes that exchange platforms should come up with some stringent norms to be followed before investors initiate trading on their platform. For instance, making it mandatory to read the risk modules before investing. Moreover, limiting the investment amount for the newcomers for a particular time period (until they are completely aware of the crypto trading space) can be another good alternative.
John McAfee Says Coronavirus Could Be a Conspiracy by World Superpowers
Computer scientist John McAfee is known for speaking his mind with holding back, which has also landed him in trouble on several occasions. However, he continues to share his opinions without any filters, and he has done exactly that about the latest pandemic Coronavirus.
While the world is finding ways to fight this fatal disease that has already claimed more than 6,500 lives at the time of writing this article, McAfee feels that there’s a deep conspiracy behind COVID19, orchestrated by the US, China, Russia, and Europe, in order to impose totalitarian laws on their populace. He shared a video via Twitter on Monday, in which he can be seen discussing the alleged conspiracy behind the outbreak of Coronavirus.
Coronavirus is now spread across more than 150 countries, and the scale just doesn’t seem to stop. However, the McAfeeDEX founder thinks that it is an overhyped disease, which is being misused by the global superpowers to increase censorship and control movement of people. He said,
“Governments unilaterally are restricting freedom of movement, restricting assembly, imposing draconian rules on where you can go and not go. And why? You can go to the doctor if you’re sick, but not if you’re not sick. Restaurants are closed almost everywhere so they can’t go to a ballgame. This seems like a totalitarian takeover.”
In the subsequent video, McAfee states that there’s a possibility that the governments may have collaborated to exaggerate the severity of the Coronavirus so that they can implement draconian legislations. He further added that there’s also a possibility that China, US, Russia, and Europe might have come together to spread the fear of the virus, while it could also be a case where the Chinese want to topple the western world economies through the spread of the virus.
Last week, McAfee had alleged that there was a Sino-US conspiracy behind Coronavirus.
Computer scientist John McAfee is known for speaking his mind with holding back, which has also landed him in trouble on several occasions. However, he continues to share his opinions without any filters, and he has done exactly that about the latest pandemic Coronavirus.
While the world is finding ways to fight this fatal disease that has already claimed more than 6,500 lives at the time of writing this article, McAfee feels that there’s a deep conspiracy behind COVID19, orchestrated by the US, China, Russia, and Europe, in order to impose totalitarian laws on their populace. He shared a video via Twitter on Monday, in which he can be seen discussing the alleged conspiracy behind the outbreak of Coronavirus.
Coronavirus is now spread across more than 150 countries, and the scale just doesn’t seem to stop. However, the McAfeeDEX founder thinks that it is an overhyped disease, which is being misused by the global superpowers to increase censorship and control movement of people. He said,
“Governments unilaterally are restricting freedom of movement, restricting assembly, imposing draconian rules on where you can go and not go. And why? You can go to the doctor if you’re sick, but not if you’re not sick. Restaurants are closed almost everywhere so they can’t go to a ballgame. This seems like a totalitarian takeover.”
In the subsequent video, McAfee states that there’s a possibility that the governments may have collaborated to exaggerate the severity of the Coronavirus so that they can implement draconian legislations. He further added that there’s also a possibility that China, US, Russia, and Europe might have come together to spread the fear of the virus, while it could also be a case where the Chinese want to topple the western world economies through the spread of the virus.
Last week, McAfee had alleged that there was a Sino-US conspiracy behind Coronavirus.
Coronavirus Threat Shoots Up Sales for Hand Sanitizer Startups
As we stepped into a new decade this January 2020, a new health challenge, the Coronavirus enveloped the world by spreading its tentacles at a rapid rate. The traces of the epidemic were first discovered in one of China’s prominent districts, Wuhan, where it created havoc with death tolls skyrocketing at rates like never before. Presently, all the major countries and regions around the world are being affected by the coronavirus attack and the number of patients suffering from the virus continues to increase at a fast pace. Governments and social organizations worldwide are putting in their joint efforts to curb the consequences of the disease by launching relief operations on a large scale. Special measures are being taken by the organizations to educate people about the necessary precautions to be taken to protect themselves from coming under the plight of the disease.
Not just health hazards, the coronavirus epidemic has caused a significant downfall in the global economy as well, with business entities being compelled to halt their operations to ensure the safety of their employees. Industries such as airlines, tourism, manufacturing units, IT, etc. have suffered a major setback because of the corona outbreak. Contrary to this, the threatening situation created by corona has turned amazingly productive for the healthcare industries. The reports reveal that in the past few weeks, the firms dealing in masks, sanitizers, disinfectants have been enjoying pathbreaking sales on a global scale.
According to the report published by a U.K-based market research firm, Kantar, the sales of hand sanitizers have witnessed a whopping 255% surge in February 2020. In comparison to 2019, Britishers were found purchasing 7% more liquid hand soaps and 10% more on household cleaning solutions. The sales in Malaysia have touched the mark of 1 million Malaysian ringgit during the week that ended on January 26. The figures are 800% more than what the country spends on hand sanitizers in an average week. The sales in Italy and the U.S have also been on the rise with countries recording a surge of 29% and 1,400%, respectively, ever since the corona outbreak. Italy recorded 2,041 cases of Coronavirus, with 52 confirmed deaths.
The escalating sales have forced firms to set a limit on the number of hand sanitizers that can be purchased by an individual. The same has been implemented by the British drug store, Boots that has set a limit of two hand sanitizers per purchase across its multiple stores. H-E-B, a Texas-based grocery chain, has limited the customer purchase of hand sanitizers to four per purchase. The pathbreaking demand has led to the selling out of stocks at Amazon, Walmart, and Walgreens, etc. This has created an upsetting situation as some third-party sellers are inflating the prices of the hand sanitizers on e-marketplaces.
Surprisingly, the growing threat of Coronavirus has made the U.S people hoard stocks of cleaning products, disinfectants, and hand sanitizers to an unbelievable extent. The piling up of hand sanitizers by the people has created unrest in the market space with shortages popping up around the world while creating major concerns for companies to meet up the required global demands. Recently, eBay was forced to ban sales for hand sanitizers, disinfecting wipes, and surgical wipes from the U.S residents. The step has been taken by eBay to counter the price gouging, which has been on the rise in the past few weeks amongst the people who are desperate to stock things to protect their family members from the corona attack. The sellers were instructed not to make new listings for the N95 masks, N100 masks, disinfectant wipes, and hand sanitizers.
As we stepped into a new decade this January 2020, a new health challenge, the Coronavirus enveloped the world by spreading its tentacles at a rapid rate. The traces of the epidemic were first discovered in one of China’s prominent districts, Wuhan, where it created havoc with death tolls skyrocketing at rates like never before. Presently, all the major countries and regions around the world are being affected by the coronavirus attack and the number of patients suffering from the virus continues to increase at a fast pace. Governments and social organizations worldwide are putting in their joint efforts to curb the consequences of the disease by launching relief operations on a large scale. Special measures are being taken by the organizations to educate people about the necessary precautions to be taken to protect themselves from coming under the plight of the disease.
Not just health hazards, the coronavirus epidemic has caused a significant downfall in the global economy as well, with business entities being compelled to halt their operations to ensure the safety of their employees. Industries such as airlines, tourism, manufacturing units, IT, etc. have suffered a major setback because of the corona outbreak. Contrary to this, the threatening situation created by corona has turned amazingly productive for the healthcare industries. The reports reveal that in the past few weeks, the firms dealing in masks, sanitizers, disinfectants have been enjoying pathbreaking sales on a global scale.
According to the report published by a U.K-based market research firm, Kantar, the sales of hand sanitizers have witnessed a whopping 255% surge in February 2020. In comparison to 2019, Britishers were found purchasing 7% more liquid hand soaps and 10% more on household cleaning solutions. The sales in Malaysia have touched the mark of 1 million Malaysian ringgit during the week that ended on January 26. The figures are 800% more than what the country spends on hand sanitizers in an average week. The sales in Italy and the U.S have also been on the rise with countries recording a surge of 29% and 1,400%, respectively, ever since the corona outbreak. Italy recorded 2,041 cases of Coronavirus, with 52 confirmed deaths.
The escalating sales have forced firms to set a limit on the number of hand sanitizers that can be purchased by an individual. The same has been implemented by the British drug store, Boots that has set a limit of two hand sanitizers per purchase across its multiple stores. H-E-B, a Texas-based grocery chain, has limited the customer purchase of hand sanitizers to four per purchase. The pathbreaking demand has led to the selling out of stocks at Amazon, Walmart, and Walgreens, etc. This has created an upsetting situation as some third-party sellers are inflating the prices of the hand sanitizers on e-marketplaces.
Surprisingly, the growing threat of Coronavirus has made the U.S people hoard stocks of cleaning products, disinfectants, and hand sanitizers to an unbelievable extent. The piling up of hand sanitizers by the people has created unrest in the market space with shortages popping up around the world while creating major concerns for companies to meet up the required global demands. Recently, eBay was forced to ban sales for hand sanitizers, disinfecting wipes, and surgical wipes from the U.S residents. The step has been taken by eBay to counter the price gouging, which has been on the rise in the past few weeks amongst the people who are desperate to stock things to protect their family members from the corona attack. The sellers were instructed not to make new listings for the N95 masks, N100 masks, disinfectant wipes, and hand sanitizers.
John McAfee Says Coronavirus Could Be a Conspiracy by World Superpowers
Computer scientist John McAfee is known for speaking his mind with holding back, which has also landed him in trouble on several occasions. However, he continues to share his opinions without any filters, and he has done exactly that about the latest pandemic Coronavirus.
While the world is finding ways to fight this fatal disease that has already claimed more than 6,500 lives at the time of writing this article, McAfee feels that there’s a deep conspiracy behind COVID19, orchestrated by the US, China, Russia, and Europe, in order to impose totalitarian laws on their populace. He shared a video via Twitter on Monday, in which he can be seen discussing the alleged conspiracy behind the outbreak of Coronavirus.
Coronavirus is now spread across more than 150 countries, and the scale just doesn’t seem to stop. However, the McAfeeDEX founder thinks that it is an overhyped disease, which is being misused by the global superpowers to increase censorship and control movement of people. He said,
“Governments unilaterally are restricting freedom of movement, restricting assembly, imposing draconian rules on where you can go and not go. And why? You can go to the doctor if you’re sick, but not if you’re not sick. Restaurants are closed almost everywhere so they can’t go to a ballgame. This seems like a totalitarian takeover.”
In the subsequent video, McAfee states that there’s a possibility that the governments may have collaborated to exaggerate the severity of the Coronavirus so that they can implement draconian legislations. He further added that there’s also a possibility that China, US, Russia, and Europe might have come together to spread the fear of the virus, while it could also be a case where the Chinese want to topple the western world economies through the spread of the virus.
Last week, McAfee had alleged that there was a Sino-US conspiracy behind Coronavirus.
Computer scientist John McAfee is known for speaking his mind with holding back, which has also landed him in trouble on several occasions. However, he continues to share his opinions without any filters, and he has done exactly that about the latest pandemic Coronavirus.
While the world is finding ways to fight this fatal disease that has already claimed more than 6,500 lives at the time of writing this article, McAfee feels that there’s a deep conspiracy behind COVID19, orchestrated by the US, China, Russia, and Europe, in order to impose totalitarian laws on their populace. He shared a video via Twitter on Monday, in which he can be seen discussing the alleged conspiracy behind the outbreak of Coronavirus.
Coronavirus is now spread across more than 150 countries, and the scale just doesn’t seem to stop. However, the McAfeeDEX founder thinks that it is an overhyped disease, which is being misused by the global superpowers to increase censorship and control movement of people. He said,
“Governments unilaterally are restricting freedom of movement, restricting assembly, imposing draconian rules on where you can go and not go. And why? You can go to the doctor if you’re sick, but not if you’re not sick. Restaurants are closed almost everywhere so they can’t go to a ballgame. This seems like a totalitarian takeover.”
In the subsequent video, McAfee states that there’s a possibility that the governments may have collaborated to exaggerate the severity of the Coronavirus so that they can implement draconian legislations. He further added that there’s also a possibility that China, US, Russia, and Europe might have come together to spread the fear of the virus, while it could also be a case where the Chinese want to topple the western world economies through the spread of the virus.
Last week, McAfee had alleged that there was a Sino-US conspiracy behind Coronavirus.
Coronavirus Threat Shoots Up Sales for Hand Sanitizer Startups
As we stepped into a new decade this January 2020, a new health challenge, the Coronavirus enveloped the world by spreading its tentacles at a rapid rate. The traces of the epidemic were first discovered in one of China’s prominent districts, Wuhan, where it created havoc with death tolls skyrocketing at rates like never before. Presently, all the major countries and regions around the world are being affected by the coronavirus attack and the number of patients suffering from the virus continues to increase at a fast pace. Governments and social organizations worldwide are putting in their joint efforts to curb the consequences of the disease by launching relief operations on a large scale. Special measures are being taken by the organizations to educate people about the necessary precautions to be taken to protect themselves from coming under the plight of the disease.
Not just health hazards, the coronavirus epidemic has caused a significant downfall in the global economy as well, with business entities being compelled to halt their operations to ensure the safety of their employees. Industries such as airlines, tourism, manufacturing units, IT, etc. have suffered a major setback because of the corona outbreak. Contrary to this, the threatening situation created by corona has turned amazingly productive for the healthcare industries. The reports reveal that in the past few weeks, the firms dealing in masks, sanitizers, disinfectants have been enjoying pathbreaking sales on a global scale.
According to the report published by a U.K-based market research firm, Kantar, the sales of hand sanitizers have witnessed a whopping 255% surge in February 2020. In comparison to 2019, Britishers were found purchasing 7% more liquid hand soaps and 10% more on household cleaning solutions. The sales in Malaysia have touched the mark of 1 million Malaysian ringgit during the week that ended on January 26. The figures are 800% more than what the country spends on hand sanitizers in an average week. The sales in Italy and the U.S have also been on the rise with countries recording a surge of 29% and 1,400%, respectively, ever since the corona outbreak. Italy recorded 2,041 cases of Coronavirus, with 52 confirmed deaths.
The escalating sales have forced firms to set a limit on the number of hand sanitizers that can be purchased by an individual. The same has been implemented by the British drug store, Boots that has set a limit of two hand sanitizers per purchase across its multiple stores. H-E-B, a Texas-based grocery chain, has limited the customer purchase of hand sanitizers to four per purchase. The pathbreaking demand has led to the selling out of stocks at Amazon, Walmart, and Walgreens, etc. This has created an upsetting situation as some third-party sellers are inflating the prices of the hand sanitizers on e-marketplaces.
Surprisingly, the growing threat of Coronavirus has made the U.S people hoard stocks of cleaning products, disinfectants, and hand sanitizers to an unbelievable extent. The piling up of hand sanitizers by the people has created unrest in the market space with shortages popping up around the world while creating major concerns for companies to meet up the required global demands. Recently, eBay was forced to ban sales for hand sanitizers, disinfecting wipes, and surgical wipes from the U.S residents. The step has been taken by eBay to counter the price gouging, which has been on the rise in the past few weeks amongst the people who are desperate to stock things to protect their family members from the corona attack. The sellers were instructed not to make new listings for the N95 masks, N100 masks, disinfectant wipes, and hand sanitizers.
As we stepped into a new decade this January 2020, a new health challenge, the Coronavirus enveloped the world by spreading its tentacles at a rapid rate. The traces of the epidemic were first discovered in one of China’s prominent districts, Wuhan, where it created havoc with death tolls skyrocketing at rates like never before. Presently, all the major countries and regions around the world are being affected by the coronavirus attack and the number of patients suffering from the virus continues to increase at a fast pace. Governments and social organizations worldwide are putting in their joint efforts to curb the consequences of the disease by launching relief operations on a large scale. Special measures are being taken by the organizations to educate people about the necessary precautions to be taken to protect themselves from coming under the plight of the disease.
Not just health hazards, the coronavirus epidemic has caused a significant downfall in the global economy as well, with business entities being compelled to halt their operations to ensure the safety of their employees. Industries such as airlines, tourism, manufacturing units, IT, etc. have suffered a major setback because of the corona outbreak. Contrary to this, the threatening situation created by corona has turned amazingly productive for the healthcare industries. The reports reveal that in the past few weeks, the firms dealing in masks, sanitizers, disinfectants have been enjoying pathbreaking sales on a global scale.
According to the report published by a U.K-based market research firm, Kantar, the sales of hand sanitizers have witnessed a whopping 255% surge in February 2020. In comparison to 2019, Britishers were found purchasing 7% more liquid hand soaps and 10% more on household cleaning solutions. The sales in Malaysia have touched the mark of 1 million Malaysian ringgit during the week that ended on January 26. The figures are 800% more than what the country spends on hand sanitizers in an average week. The sales in Italy and the U.S have also been on the rise with countries recording a surge of 29% and 1,400%, respectively, ever since the corona outbreak. Italy recorded 2,041 cases of Coronavirus, with 52 confirmed deaths.
The escalating sales have forced firms to set a limit on the number of hand sanitizers that can be purchased by an individual. The same has been implemented by the British drug store, Boots that has set a limit of two hand sanitizers per purchase across its multiple stores. H-E-B, a Texas-based grocery chain, has limited the customer purchase of hand sanitizers to four per purchase. The pathbreaking demand has led to the selling out of stocks at Amazon, Walmart, and Walgreens, etc. This has created an upsetting situation as some third-party sellers are inflating the prices of the hand sanitizers on e-marketplaces.
Surprisingly, the growing threat of Coronavirus has made the U.S people hoard stocks of cleaning products, disinfectants, and hand sanitizers to an unbelievable extent. The piling up of hand sanitizers by the people has created unrest in the market space with shortages popping up around the world while creating major concerns for companies to meet up the required global demands. Recently, eBay was forced to ban sales for hand sanitizers, disinfecting wipes, and surgical wipes from the U.S residents. The step has been taken by eBay to counter the price gouging, which has been on the rise in the past few weeks amongst the people who are desperate to stock things to protect their family members from the corona attack. The sellers were instructed not to make new listings for the N95 masks, N100 masks, disinfectant wipes, and hand sanitizers.
Vitalik Buterin Shares ETH2 Roadmap for Next 5-10 Years
Ethereum creator and chief, Vitalik Buterin, shared an infographic roadmap on Wednesday via Twitter, which indicates what the future could be for ETH2 in the next 5-10 years. However, he stated that the roadmap is a reflection of his own views and others may have an altogether different perspective.
When the entire crypto industry is bleeding due to the impact of the Coronavirus outbreak in at least 176 countries, Buterin’s tweet is almost like a reminder that no matter what, the industry must focus on the future development. Challenges like the current BTC crash of 50% will come and go, but only those projects that have a formidable plan and a strong core will survive through the testing times.
In a couple of his tweets in the thread, Vitalik Buterin said,
“In general, over the last 2 years there has been a solid shift from “blue sky” research, trying to understand what is possible, to concrete research and development, trying to optimize specific primitives that we know are implementable and implement them. We know much more about the capabilities and limits of proof of stake, security models of sharding, etc. Thanks to the hard work of many, moon math like ZK-SNARKs is looking increasingly down-to-earth.”
Despite other major names in the industry like Changpeng Zhao, Brad Garlinghouse, Justin Sun, Anthony Pompliano, etc., have expressed their concerns over the COVID-19 outbreak and its potential impact in the crypto industry and human life in general, Vitalik Buterin has been quite understated in this regard, a characteristic which is quite apparent in his behavior at all times.
Putting forward a complex infographic for the community to analyze will definitely give a much-needed break to the users to try and focus on something while they continue to remain indoors to prevent the spread of novel Coronavirus. In his thread, Buterin also assured that the ETH2 project would be considerably less complex, as many changes are directed towards reducing complexity.
Ethereum creator and chief, Vitalik Buterin, shared an infographic roadmap on Wednesday via Twitter, which indicates what the future could be for ETH2 in the next 5-10 years. However, he stated that the roadmap is a reflection of his own views and others may have an altogether different perspective.
When the entire crypto industry is bleeding due to the impact of the Coronavirus outbreak in at least 176 countries, Buterin’s tweet is almost like a reminder that no matter what, the industry must focus on the future development. Challenges like the current BTC crash of 50% will come and go, but only those projects that have a formidable plan and a strong core will survive through the testing times.
In a couple of his tweets in the thread, Vitalik Buterin said,
“In general, over the last 2 years there has been a solid shift from “blue sky” research, trying to understand what is possible, to concrete research and development, trying to optimize specific primitives that we know are implementable and implement them. We know much more about the capabilities and limits of proof of stake, security models of sharding, etc. Thanks to the hard work of many, moon math like ZK-SNARKs is looking increasingly down-to-earth.”
Despite other major names in the industry like Changpeng Zhao, Brad Garlinghouse, Justin Sun, Anthony Pompliano, etc., have expressed their concerns over the COVID-19 outbreak and its potential impact in the crypto industry and human life in general, Vitalik Buterin has been quite understated in this regard, a characteristic which is quite apparent in his behavior at all times.
Putting forward a complex infographic for the community to analyze will definitely give a much-needed break to the users to try and focus on something while they continue to remain indoors to prevent the spread of novel Coronavirus. In his thread, Buterin also assured that the ETH2 project would be considerably less complex, as many changes are directed towards reducing complexity.
USDC Crosses $600 Million In Market Capitalization; Work as Collateral For MakerDAO
Working as a globally acclaimed fully collateralized US dollar stablecoin, USDC has achieved two celebratory milestones for its global customer base. Firstly, the renowned stablecoin project has crossed the whopping mark of $600 million in market capitalization. Secondly, USDC has been adopted by MakerDAO to work as an alternative form of collateral, which implies that the investors will now be allowed to use the stablecoin for opening Vaults to generate DAI.
According to the reports, on March 16, 2020, the MKR governance token holders indulged in voting to pass the proposal concerning the addition of USDC as collateral in the network. The positive results shown in the voting procedure were directly linked to the recent events related to the DeFi application MakerDAO. The sharp fall of ETH from $194 to $124 in a short span of hours created a surprising situation leading to the liquidation of over $4MM CDP positions. The move is likely to trigger a surge in DAI liquidity and stability.
Launched in 2018, USDC is a brainchild of CENTRE Consortium, which serves as an open-source technology project co-founded by Coinbase and Circle. Owing to its stability, security, and transparency, the stablecoin evolved as the second-largest stablecoin in the world in terms of market capitalization. USDC can be effectively used for safe cross-border transactions and remittances, for buying, selling, lending, investing, and trading in Dapps and crypto exchanges, as well as a programmable dollar for developers and fintech entities.
USDC is backed by the US dollar that is held in a reputed US bank. Also, its reserve balances are attested to by top-five accounting firm Grant Thornton LLP. Coinbase allows its customers to convert their USDC funds into any cryptocurrency listed on the exchange platform or convert and withdraw in US dollars.
Working as a globally acclaimed fully collateralized US dollar stablecoin, USDC has achieved two celebratory milestones for its global customer base. Firstly, the renowned stablecoin project has crossed the whopping mark of $600 million in market capitalization. Secondly, USDC has been adopted by MakerDAO to work as an alternative form of collateral, which implies that the investors will now be allowed to use the stablecoin for opening Vaults to generate DAI.
According to the reports, on March 16, 2020, the MKR governance token holders indulged in voting to pass the proposal concerning the addition of USDC as collateral in the network. The positive results shown in the voting procedure were directly linked to the recent events related to the DeFi application MakerDAO. The sharp fall of ETH from $194 to $124 in a short span of hours created a surprising situation leading to the liquidation of over $4MM CDP positions. The move is likely to trigger a surge in DAI liquidity and stability.
Launched in 2018, USDC is a brainchild of CENTRE Consortium, which serves as an open-source technology project co-founded by Coinbase and Circle. Owing to its stability, security, and transparency, the stablecoin evolved as the second-largest stablecoin in the world in terms of market capitalization. USDC can be effectively used for safe cross-border transactions and remittances, for buying, selling, lending, investing, and trading in Dapps and crypto exchanges, as well as a programmable dollar for developers and fintech entities.
USDC is backed by the US dollar that is held in a reputed US bank. Also, its reserve balances are attested to by top-five accounting firm Grant Thornton LLP. Coinbase allows its customers to convert their USDC funds into any cryptocurrency listed on the exchange platform or convert and withdraw in US dollars.
Oil Price Down After OPEC Deal Failure, Crypto Markets Severely Hit
Global oil prices plunged more than 26% on Sunday after the OPEC failed to strike a price deal with its allies. Saudi Arabia, the largest producer of crude oil in the world, slashed the oil prices along with planning to increase oil production further to be ready for a possible price war. Consequently, the crypto market felt several shocks as Bitcoin was down by 10% within 24 hours.
As per a report published by CNBC, the price of the US West Texas Intermediate Crude dropped by 27.62% to $29.88 per barrel, while the Brent crude futures fell by 24.4% to $33.32 per barrel on Monday. On the other hand, Bitcoin, which was around $9,130+ on Saturday, is bleeding at less than $7,960 at the moment.
Likewise, other major cryptocurrencies like Ethereum, Ripple, Bitcoin Cash, etc. also witnessed more severe double-digit percentage losses. While such volatility is common in the industry, this is easily the worst downward movement in several weeks. However, the downward trend could also lure new investors in the crypto industry. While speaking to the news agency, co-founder of Kenetic Capital, Jehan Chu said,
“For those who have long term investment horizons, bitcoin is absolutely a buy during these dips. We can expect more of this volatility sparked by macro health and financial shocks, but ultimately long-term investments in the digital future and it’s key asset Bitcoin will be a winning strategy.”
On the flip side, the mass-selling spree of Bitcoin investors could have also been because the investors want to park their investments in oil commodities, as the low prices might also prove to be a tempting opportunity for investors.
Financial markets across the globe are facing a downward trend. The NYSE was trading below 241 points, while the BSE was down by a heart-wrenching 1941 points. This indicates the Bitcoin and other cryptos are running in parallel with other markets, and that isn’t necessarily a bad thing.
Global oil prices plunged more than 26% on Sunday after the OPEC failed to strike a price deal with its allies. Saudi Arabia, the largest producer of crude oil in the world, slashed the oil prices along with planning to increase oil production further to be ready for a possible price war. Consequently, the crypto market felt several shocks as Bitcoin was down by 10% within 24 hours.
As per a report published by CNBC, the price of the US West Texas Intermediate Crude dropped by 27.62% to $29.88 per barrel, while the Brent crude futures fell by 24.4% to $33.32 per barrel on Monday. On the other hand, Bitcoin, which was around $9,130+ on Saturday, is bleeding at less than $7,960 at the moment.
Likewise, other major cryptocurrencies like Ethereum, Ripple, Bitcoin Cash, etc. also witnessed more severe double-digit percentage losses. While such volatility is common in the industry, this is easily the worst downward movement in several weeks. However, the downward trend could also lure new investors in the crypto industry. While speaking to the news agency, co-founder of Kenetic Capital, Jehan Chu said,
“For those who have long term investment horizons, bitcoin is absolutely a buy during these dips. We can expect more of this volatility sparked by macro health and financial shocks, but ultimately long-term investments in the digital future and it’s key asset Bitcoin will be a winning strategy.”
On the flip side, the mass-selling spree of Bitcoin investors could have also been because the investors want to park their investments in oil commodities, as the low prices might also prove to be a tempting opportunity for investors.
Financial markets across the globe are facing a downward trend. The NYSE was trading below 241 points, while the BSE was down by a heart-wrenching 1941 points. This indicates the Bitcoin and other cryptos are running in parallel with other markets, and that isn’t necessarily a bad thing.
How Blockchain Can Transform Cybersecurity?
Cybersecurity is one of the prime concerns of the present world in which businesses are witnessing newer threats with each passing day. Although, the future of cybersecurity will always be unpredictable, yet it is important to prepare the assessment of possible vulnerabilities and potential security innovation to keep the customer consistent. The combination of block-building algorithms and hashing makes blockchain a great solution in the cybersecurity portfolio. It enhances the data security during transactions of any value which are being processed in the distributed network. Blockchain is changing the cybersecurity solution in several ways. As per the new Breach Level Index (BLI) in 2017, more than 2.5 billion data records have been compromised. As a result, it is expected that in the upcoming digital age, comfort and flexibility will be overtaken by privacy and security. Blockchain provides data security and privacy for confidential information and is likely to be a great charmer for many business applications to provide better privacy and security.
Blockchain will impact cybersecurity by providing decentralized storage solutions. As data is going to become the most valuable asset in the future, hence there is a need of creating applications and systems which can assure the safety of data. Also, the blockchain experts would be able to combine the data security option along with other trending technologies for storing data. Safe DNS is one of the main concerns currently. As it is centralised hence is easily accessible by the hackers. DNS system can be expected to be more secure with the help of blockchain system. As blockchain system is decentralized, hence it is not vulnerable and ensures complete safety of your information.
Blockchain technology is progressive and forward-looking, and it uses a systematic way that combines a computational algorithm and a data structure to work out the ever-lasting problem of many areas. It can be used in conflict situations as it connects not only trusted parties but also the untrusted parties. Today, there is a need of system transparency. If an organization’s business model demands that it must have transparency to their customers or suppliers throughout the supply chain, distributed-ledger technology can play a significant role to provide end-to-end visibility of the supply chain operation and management system. There is also a need of data immutability. If there is a need of building up a highly secured append-only database by the organization, then it can be done using cryptography hashing and using digital signatures and help build a highly secure ledger.
In this ever-evolving age of technology, blockchain technology is providing boost to cybersecurity. Distributed Denial-of-service (DDoS) attacks where there is an attack on multiple computer systems and cause a denial of service for users of the targeted resource. These attacks have been happening at an increased rate recently and are affecting giants like Sound Cloud, Spotify and more. The implementation of blockchain technology would decentralize Domain Name System (DNS). It can surely distribute the large amount of contents to different nodes and hence making it nearly impossible for hackers to hack the system. It is also useful in identity theft and fraud protection. Criminals generally use the identity of a dead person to get away with a crime but it can be put an end to with the help of blockchain technology. Also, to keep the information secure many messaging systems use either end to end encryption or blockchain technology. The growing secure communication systems like blockchain and others are working towards developing unified communication.
Cybersecurity is one of the prime concerns of the present world in which businesses are witnessing newer threats with each passing day. Although, the future of cybersecurity will always be unpredictable, yet it is important to prepare the assessment of possible vulnerabilities and potential security innovation to keep the customer consistent. The combination of block-building algorithms and hashing makes blockchain a great solution in the cybersecurity portfolio. It enhances the data security during transactions of any value which are being processed in the distributed network. Blockchain is changing the cybersecurity solution in several ways. As per the new Breach Level Index (BLI) in 2017, more than 2.5 billion data records have been compromised. As a result, it is expected that in the upcoming digital age, comfort and flexibility will be overtaken by privacy and security. Blockchain provides data security and privacy for confidential information and is likely to be a great charmer for many business applications to provide better privacy and security.
Blockchain will impact cybersecurity by providing decentralized storage solutions. As data is going to become the most valuable asset in the future, hence there is a need of creating applications and systems which can assure the safety of data. Also, the blockchain experts would be able to combine the data security option along with other trending technologies for storing data. Safe DNS is one of the main concerns currently. As it is centralised hence is easily accessible by the hackers. DNS system can be expected to be more secure with the help of blockchain system. As blockchain system is decentralized, hence it is not vulnerable and ensures complete safety of your information.
Blockchain technology is progressive and forward-looking, and it uses a systematic way that combines a computational algorithm and a data structure to work out the ever-lasting problem of many areas. It can be used in conflict situations as it connects not only trusted parties but also the untrusted parties. Today, there is a need of system transparency. If an organization’s business model demands that it must have transparency to their customers or suppliers throughout the supply chain, distributed-ledger technology can play a significant role to provide end-to-end visibility of the supply chain operation and management system. There is also a need of data immutability. If there is a need of building up a highly secured append-only database by the organization, then it can be done using cryptography hashing and using digital signatures and help build a highly secure ledger.
In this ever-evolving age of technology, blockchain technology is providing boost to cybersecurity. Distributed Denial-of-service (DDoS) attacks where there is an attack on multiple computer systems and cause a denial of service for users of the targeted resource. These attacks have been happening at an increased rate recently and are affecting giants like Sound Cloud, Spotify and more. The implementation of blockchain technology would decentralize Domain Name System (DNS). It can surely distribute the large amount of contents to different nodes and hence making it nearly impossible for hackers to hack the system. It is also useful in identity theft and fraud protection. Criminals generally use the identity of a dead person to get away with a crime but it can be put an end to with the help of blockchain technology. Also, to keep the information secure many messaging systems use either end to end encryption or blockchain technology. The growing secure communication systems like blockchain and others are working towards developing unified communication.
Власти поручили закрыть кинотеатры и ночные клубы по всей России и запретили курить кальяны в кафе и ресторанах
Elon Musk is known around the world for his philanthropic efforts, and in these disastrous times of the global pandemic, the Tesla chief is making a great effort to do his bit. Recently, he met with the Medtronic team to discuss the engineering of state-of-the-art, and was all praise for. He tweeted that Medtronic has an impressive team.
Replying to Musk’s tweet, Medtronic emphasized on the collaborative fight against novel Coronavirus, which has, as of date, killed over 14,000 and infected more than 343,000 in at least 190 countries. It said,
“Addressing #COVID19 is a group effort. We are grateful for the discussion with Elon Musk and Tesla as we work across industries to solve problems and get patients and hospitals the tools, they need to continue saving lives. We’re all in this together.”
Medtronic CEO Omar Ishrak and President Geoff thanked Elon Musk, and also emphasized on working together against the deadly virus, while also informing that Medtronic is trying to bring more and more ventilators in the market. As we have come to know, ventilators are among the essential medical machinery required to treat victims of COVID-19, and due to the sudden explosion of the disease, there’s a serious shortage of machines all over the world.
Apart from this, Elon Musk and Tesla also donated 50,000 units of N95 masks to UW Medicine, out of the promised 250,000 units that will be sent in a phased manner.
Elon Musk is known around the world for his philanthropic efforts, and in these disastrous times of the global pandemic, the Tesla chief is making a great effort to do his bit. Recently, he met with the Medtronic team to discuss the engineering of state-of-the-art, and was all praise for. He tweeted that Medtronic has an impressive team.
Replying to Musk’s tweet, Medtronic emphasized on the collaborative fight against novel Coronavirus, which has, as of date, killed over 14,000 and infected more than 343,000 in at least 190 countries. It said,
“Addressing #COVID19 is a group effort. We are grateful for the discussion with Elon Musk and Tesla as we work across industries to solve problems and get patients and hospitals the tools, they need to continue saving lives. We’re all in this together.”
Medtronic CEO Omar Ishrak and President Geoff thanked Elon Musk, and also emphasized on working together against the deadly virus, while also informing that Medtronic is trying to bring more and more ventilators in the market. As we have come to know, ventilators are among the essential medical machinery required to treat victims of COVID-19, and due to the sudden explosion of the disease, there’s a serious shortage of machines all over the world.
Apart from this, Elon Musk and Tesla also donated 50,000 units of N95 masks to UW Medicine, out of the promised 250,000 units that will be sent in a phased manner.
Peter Brandt: Precious Metals, Gold and Bitcoin Should Be Viewed as Insurance Policies
Renowned financial analyst Peter Brandt tweeted on Monday that, in his opinion, people should consider gold and Bitcoin as “catastrophic insurance policies.” He further added that these assets must be treated as policies for which premium is paid, but people hope that they are never needed.
In another tweet, he made an argument against precious metals being hedged against inflation. Brandt said,
“Many claim that Gold and Silver are excellent long-term hedges against inflation and are stores-of-value. Definitely NOT true for Silver, and Gold is finally back to inflation-adjusted levels from 40 years ago.”
Days after bleeding below $6,000 apiece, BTC showed some signs of recovery on Tuesday, as it is moving at more than $6,788 at the time of writing this article. However, this is still significantly lower than what it was at the beginning of the Coronavirus outbreak in late February. Since 01st March, Bitcoin lost almost 50% value on a couple of occasions, which is correlated to the crash in global financial markets.
The Federal Reserve Bank of St. Louis president James Bullard predicted that unemployment rate in the US would hit 30% in the coming 90 days, while the GDP could witness a fall by as much as 50%, and that could prove to be devastating, not only of the United States but for the entire planet. If Peter Brandt’s words turn out to be true, the future could be even darker as then there wouldn’t be any possible hedge available against the inflation.
Renowned financial analyst Peter Brandt tweeted on Monday that, in his opinion, people should consider gold and Bitcoin as “catastrophic insurance policies.” He further added that these assets must be treated as policies for which premium is paid, but people hope that they are never needed.
In another tweet, he made an argument against precious metals being hedged against inflation. Brandt said,
“Many claim that Gold and Silver are excellent long-term hedges against inflation and are stores-of-value. Definitely NOT true for Silver, and Gold is finally back to inflation-adjusted levels from 40 years ago.”
Days after bleeding below $6,000 apiece, BTC showed some signs of recovery on Tuesday, as it is moving at more than $6,788 at the time of writing this article. However, this is still significantly lower than what it was at the beginning of the Coronavirus outbreak in late February. Since 01st March, Bitcoin lost almost 50% value on a couple of occasions, which is correlated to the crash in global financial markets.
The Federal Reserve Bank of St. Louis president James Bullard predicted that unemployment rate in the US would hit 30% in the coming 90 days, while the GDP could witness a fall by as much as 50%, and that could prove to be devastating, not only of the United States but for the entire planet. If Peter Brandt’s words turn out to be true, the future could be even darker as then there wouldn’t be any possible hedge available against the inflation.
Amid Reports of Growing Scammers and Imposters, Ripple Shares Tips to Spot XRP Giveaway Scams
Being a relatively young industry, crypto space is more vulnerable to scammers and imposters, with the community losing billions of dollars in crypto frauds over the years. Responding to the growing giveaway scams in their name, Ripple has posted an article explaining to its community members how to spot XRP giveaway scams.
The article posted on the company’s official website is an attempt to create awareness among the vulnerable sections of the community. As per the post, the first warning one can get that a giveaway is a scam is if it asks the users to send some amount of money in order to receive the rewards that are much bigger than the money asked for. Ripple added that any legit giveaway will never ask for money or any other financial information, as winnings are always free. It further added,
“In response to the numerous XRP giveaway scams and impersonations, Ripple has hired an external cybersecurity and digital threat intelligence vendor to help with reporting and takedown efforts. Additionally, we have built our own submission form for the community to report unusual activity. Where there is money, there will always be people looking to steal it. Be mindful of what you see on social media, check for signs of scam posts and protect yourself.”
Ripple co-founder and CEO Brad Garlinghouse seemed to be upset with another of his imposters on YouTube. In a tweet on Wednesday, Brad said that social platforms need to hold scammers, from crypto and other sectors, accountable for stealing money from the vulnerable users through fake giveaways.
Garlinghouse also said,
“My semi-annual PSA: @Ripple and I have not, nor will we ever, conduct a giveaway like the scams that continuously pop up impersonating me on YouTube, Instagram, Twitter, etc. Action needs to be taken – more to come soon.”
Being a relatively young industry, crypto space is more vulnerable to scammers and imposters, with the community losing billions of dollars in crypto frauds over the years. Responding to the growing giveaway scams in their name, Ripple has posted an article explaining to its community members how to spot XRP giveaway scams.
The article posted on the company’s official website is an attempt to create awareness among the vulnerable sections of the community. As per the post, the first warning one can get that a giveaway is a scam is if it asks the users to send some amount of money in order to receive the rewards that are much bigger than the money asked for. Ripple added that any legit giveaway will never ask for money or any other financial information, as winnings are always free. It further added,
“In response to the numerous XRP giveaway scams and impersonations, Ripple has hired an external cybersecurity and digital threat intelligence vendor to help with reporting and takedown efforts. Additionally, we have built our own submission form for the community to report unusual activity. Where there is money, there will always be people looking to steal it. Be mindful of what you see on social media, check for signs of scam posts and protect yourself.”
Ripple co-founder and CEO Brad Garlinghouse seemed to be upset with another of his imposters on YouTube. In a tweet on Wednesday, Brad said that social platforms need to hold scammers, from crypto and other sectors, accountable for stealing money from the vulnerable users through fake giveaways.
Garlinghouse also said,
“My semi-annual PSA: @Ripple and I have not, nor will we ever, conduct a giveaway like the scams that continuously pop up impersonating me on YouTube, Instagram, Twitter, etc. Action needs to be taken – more to come soon.”
USD Surpasses the Search Volume of Bitcoin Again: Google Trends
The U.S. Dollar, being the strongest currency has been one of the most used parameters to evaluate other national currencies, assets and even cryptocurrencies. It is very much visible right now that global economies are under great threat owing to the ongoing pandemic Coronavirus.
Amid that, Google Trends has sensed a notable difference regarding the search volume of USD. Up till now, USD has been the one which holds better search volume as compared to Bitcoin. However, a minor fluctuation has been found on March 13, when Bitcoin had breached way below its key support levels.
BTC had traded even below $4000 triggering extreme volatility in the crypto market. This is, perhaps a major factor behind the incredible surge in BTC’s search volume.
By the time when the crypto market started seeing a recovery, USD managed to improve its search volume. While the shoot up in USD’s search volume largely seems to be depending upon its strength, there is one more factor which might have played a vital part.
Coronavirus, the scariest of all disease has somehow taken the world under its vicious control as most of the nations are suffering from its outbreak. While China has slowly started to come out of its dreadful impacts, Italy, a country that is renowned for its efficient medical services is still witnessing an increase in Corona positive cases. Notably, thousands have already died due to this in a country like Italy.
Meanwhile, a piece of news is making rounds these days that the US may become the next epicenter of Coronavirus. Citizens of the USA were already panicked regarding the lethal virus and this prediction has triggered fear amongst people all over again. This situation has caused almost everyone to get locked down in their own houses with required stuff like food and medicines.
This happens to be one of the chief reasons why people have started to sell off their investments including BTC. The need for hard cash and the current economic crash has pushed most of them to hold cash and not the investments. In order to avoid liquidity crunch, masses are opting to encash their investments. Chances are higher that this has caused USD’s search volume to rise significantly on Google Trends.
The U.S. Dollar, being the strongest currency has been one of the most used parameters to evaluate other national currencies, assets and even cryptocurrencies. It is very much visible right now that global economies are under great threat owing to the ongoing pandemic Coronavirus.
Amid that, Google Trends has sensed a notable difference regarding the search volume of USD. Up till now, USD has been the one which holds better search volume as compared to Bitcoin. However, a minor fluctuation has been found on March 13, when Bitcoin had breached way below its key support levels.
BTC had traded even below $4000 triggering extreme volatility in the crypto market. This is, perhaps a major factor behind the incredible surge in BTC’s search volume.
By the time when the crypto market started seeing a recovery, USD managed to improve its search volume. While the shoot up in USD’s search volume largely seems to be depending upon its strength, there is one more factor which might have played a vital part.
Coronavirus, the scariest of all disease has somehow taken the world under its vicious control as most of the nations are suffering from its outbreak. While China has slowly started to come out of its dreadful impacts, Italy, a country that is renowned for its efficient medical services is still witnessing an increase in Corona positive cases. Notably, thousands have already died due to this in a country like Italy.
Meanwhile, a piece of news is making rounds these days that the US may become the next epicenter of Coronavirus. Citizens of the USA were already panicked regarding the lethal virus and this prediction has triggered fear amongst people all over again. This situation has caused almost everyone to get locked down in their own houses with required stuff like food and medicines.
This happens to be one of the chief reasons why people have started to sell off their investments including BTC. The need for hard cash and the current economic crash has pushed most of them to hold cash and not the investments. In order to avoid liquidity crunch, masses are opting to encash their investments. Chances are higher that this has caused USD’s search volume to rise significantly on Google Trends.
Justin Sun Highlights Major Updates for BitTorrent Ecosystem in the Last Month
In these testing times of the Coronavirus pandemic, when the crypto industry is bleeding badly, TRON CEO Justin Sun has come up with some refreshing updates about the BitTorrent ecosystem. In a Twitter thread posted on Friday, Justin shared all the BTT updates for the last 30 days.
As per 29-year-old crypto entrepreneurs, BTT products have increased dramatically, including their Windows, macOS, Android, and Web clients, BitTorrent Speed, BTFS, and DLIive, with windows, have the highest number of users at 21 million. DLive showed a 100% growth, the highest among all platforms, and the Web saw a 50% growth. He further added,
“We’ve rolled out BitTorrent Speed partially to fresh installs & will roll out 100% to fresh installs in April. In the Q2, we’ll update Speed with $BTT to all 30 mil DAU. So far, the network’s stability & network effects have improved dramatically since BTT was introduced. We launched #BTFS in March. On the demand side, lots of amazing decentralized products are in the pipeline ready to launch BTFS.”
Justin also said that the decentralized products would first go live on DLive since it has a huge storage demand. As far as the supply is concerned, he stated that they would roll out fresh installs in the second quarter, which will further enhance BTFS network effects.
As far as the crypto industry goes, Justin Sun and TRON Foundation have been among the prominent names to come forward in tackling the Coronavirus pandemic. They have contributed towards providing medical supplies, like masks and medical kits in the affected regions.
In these testing times of the Coronavirus pandemic, when the crypto industry is bleeding badly, TRON CEO Justin Sun has come up with some refreshing updates about the BitTorrent ecosystem. In a Twitter thread posted on Friday, Justin shared all the BTT updates for the last 30 days.
As per 29-year-old crypto entrepreneurs, BTT products have increased dramatically, including their Windows, macOS, Android, and Web clients, BitTorrent Speed, BTFS, and DLIive, with windows, have the highest number of users at 21 million. DLive showed a 100% growth, the highest among all platforms, and the Web saw a 50% growth. He further added,
“We’ve rolled out BitTorrent Speed partially to fresh installs & will roll out 100% to fresh installs in April. In the Q2, we’ll update Speed with $BTT to all 30 mil DAU. So far, the network’s stability & network effects have improved dramatically since BTT was introduced. We launched #BTFS in March. On the demand side, lots of amazing decentralized products are in the pipeline ready to launch BTFS.”
Justin also said that the decentralized products would first go live on DLive since it has a huge storage demand. As far as the supply is concerned, he stated that they would roll out fresh installs in the second quarter, which will further enhance BTFS network effects.
As far as the crypto industry goes, Justin Sun and TRON Foundation have been among the prominent names to come forward in tackling the Coronavirus pandemic. They have contributed towards providing medical supplies, like masks and medical kits in the affected regions.
