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2023-02-15 14:45:00 ​Cryptocurrency will not destroy traditional finance, says the former head of the Central Bank of Hong Kong.

The former head of the Hong Kong central bank said that cryptocurrencies will not destroy traditional finance and that volatility will hold back the development of many crypto assets.

Norman Chan, former head of the Hong Kong Monetary Authority, gave an interview to the 21st Century Business Herald. Chen said that crypto assets like Bitcoin (BTC) can never become "currencies" because they "have no intrinsic value and their prices are too volatile."

Chan stated:
“Bitcoin can be used for speculation and does not qualify [to be considered a currency].”

He also discussed stablecoins, saying:
“Stablecoins have many uses. They can reduce transaction costs and improve the efficiency of transactions. But they cannot undermine the use and replace traditional finance.”

He explained that decentralized finance (DeFi) is also inferior to centralized models, as in the DeFi world, investors “generally don’t have protection.” Open / Comment

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2023-02-12 16:30:01 ​Shiba Inu (SHIB) on PayPal? Financial Giant Responds to Request

Financial giant PayPal has responded to a Twitter inquiry about accepting Shiba Inu (SHIB) as payment on its platform.

The request came from a member of the SHIB Army, a group of passionate supporters of the meme-inspired cryptocurrency.

In a Twitter exchange on Feb. 11, user AdRock_0x asked PayPal if it accepted SHIB as payment. "Asking for a fren," the user added.

The company's support account replied, advising AdRock_0x to have their friend contact PayPal directly via direct message to inquire about accepting the cryptocurrency as payment.

PayPal's involvement in the cryptocurrency industry dates back to October 2020. Back then, it announced that it would allow users to buy, hold and sell cryptocurrencies on its platform, pushing the bull market into a higher gear. The company initially supported four cryptocurrencies (Bitcoin, Ethereum, Bitcoin Cash, and Litecoin).

Last June, PayPal announced that its users in the United States can now transfer cryptocurrencies, including Bitcoin, to external wallets. Prior to that, its American customers were not able to move their cryptocurrency holdings off its platform. Open / Comment

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2023-02-11 18:29:12 ​Floki Inu partnered with ApeSwap, can this boost its value?

Floki Inu (FLOKI/USD) is essentially a dog-themed meme cryptocurrency inspired by competing tokens such as Shiba Inu (SHIB/USD) and Dogecoin (DOGE/USD).

In fact, the coin is named after Tesla and SpaceX’s Chief Executive Officer, Elon Musk’s dog. Floki Inu stands out due to the fact that it aims to become its entire ecosystem.

This includes the development of a non-fungible gaming token (NFT) metaverse known as Valhalla, an NFT and merchandise marketplace called FlokiPlaces, as well as a content and educational platform called Floki University.

The ApeSwap partnership as a catalyst for growth
On August 16, 2022, Floki Inu made an official announcement on their Twitter page that they are partnering up with ApeSwap as a means of allowing users to purchase FLOKI at a discount.

This will be conducted through the utilization of the new, sustainable liquidity mining (SLM) program.

This SLM program, according to the Floki Inu team, utilizes yield-bearing NFTs known as Treasury Bills. These can be purchased through the usage of Liquidity Provider (LP) tokens as a means of receiving tokens at a discount.

Then, in order to create liquidity, users simply sell these Treasury Bills. This could lead to an increased appeal for the FLOKI token, which can lead to a higher value. Open / Comment

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2023-02-10 18:30:00 Receive and send cryptocurrency payments with PassimPay

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2023-02-10 14:00:14 ​MetaMask will be able to integrate any blockchain

The developers talked about the future possibilities of the MetaMask cryptocurrency wallet. They assured that eventually, this product will ensure the flourishing of multichains. It will be able to support any blockchain and integrate all kinds of tokens through Snaps.

This development will make it possible to work with multiple networks and greatly expand the functionality of the browser-based service.

Thus, the developers planned to contribute to the scaling and mass implementation of Web3 technologies. Details of the latest addition to the growing MetaMask ecosystem were revealed at the StarkWare Sessions event in Tel Aviv, Israel.

A senior product manager for Metamask Snaps told: in the last 18 months, development of the project has accelerated significantly following the success of MetaMask Swaps. This tool brought token exchange functionality to the browser extension. Open / Comment

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2023-02-06 11:03:48 ​Sаo Paulo enshrines in law the use of blockchain for data collection

In the legislative act, blockchain refers to an immutable registry where transactions are recorded and through which the use of various assets based on a computer network can be tracked. The law does not spell out exactly where its use will improve the efficiency of data access and openness tasks.

Some experts in the local media are convinced that the term was included in the law at random, as it does not describe any practical application of the technology.

"Institutions recognize blockchain technology as a positive factor for the economy, but there is no clear prescription for the use of the technology, which creates some risks," said Machado Meyer lawyer Marcelo Castro.

Earlier, representatives of the Brazilian Securities Commission said that the regulator should pay special attention to the supervision of the cryptocurrency industry. Open / Comment