Yet another U-turn in the corporate world. Four months ago Visa, Mastercard tried to rip people’s face off by classifying crypto purchases as cash advances. The latter is now looking to adopt blockchain to verify consumer coupons and have filed a patent for a “method and system for authentication of coupons via blockchain” with high hopes of eliminating manipulation.
Following Carsons, after posting $424mn in losses 1Q18, Sears has identified 100 unprofitable stores and will be closing 72 of them, a number equivalent to 12% of total branches outstanding. Wonder if these credit card companies will face the same fate.
A day of U-turns it seems. Poland based BitBay got the shaft earlier this week as banks simply refused to deal with them. Subsequently they decided to call it quits and move on to Malta. This forced the hand of the Polish Financial Supervision Authority (KNF) which extended an invitation to join a Blockchain Working Group. Have a hunch that they won’t be partaking.
Bittrex’s announcement in offering USD settlements in select states is serving as an unpleasant reminder for New York how well Bitlicense has served them. Most of the key members that drafted the ridiculous bill left soon after to provide legal advice in acquiring it. Just imagine where NYC would be had they not been stifled by the completely unnecessary (and pricely) piece of paper. It has served well as an example of how not to regulate and pushed out businesses that surely would have set up shop in the city. Vermont’s governor has just signed a bill to permit “blockchain-basd limited liability companies” also permitting them to pay their tax bills with crypto.
While Deutsche Börse pledged to earmark $315mn on new tech including blockchain, Spain’s parliament also joined the pro-team in unanimously passing a bill that would introduce the technology and have lawmakers review the existing legal framework to be more accommodative in introducing the technology to the country.
As $ETH addresses surpass those of $BTC and Ripple continues to attract ew signees to their payment network, the IMFs deputy director published a paper urging central banks to improve their “fiat” if they want to fend off the competition from cryptoassets. That is as big a red flag a man in his position can raise in my opinion.
It would be unfair to judge by gauging just a day’s worth transactions but following the mainnet launch, $TRON has been averaging circa 13 transactions per hour. They had raised money by promising a network capable of 10k TPS. I guess its always good to have a fallback plan.
May trend be your friend. Happy Trading!