Author Archives: David Drake
by David Drake On the 22nd of February, the Treasury Committee in the UK Parliament set up an inquiry into the benefits and risks posed by cryptocurrencies. This follows increased public investment in the unregulated sector which has seen companies make huge returns and losses. The UK Government offers no protection to cryptocurrency investors. Just a few weeks ago, players […]
by David Drake According to Coinmarketcap, Ripple is currently the third largest cryptocurrency with a market capitalization of $44.6 billion. Its digital network for financial transactions has proven popular in the cryptocurrency market. This popularity has attracted several high-profile financial institutions and prompted them to pilot Ripple’s technology in the mainstream financial markets. On February 14, 2017, Western Union, the biggest […]
by David Drake 2018 has seen regulators accelerate the pace of cryptocurrency rule-making and enforcement. Since the start of the year, countries across the board have begun to consider regulating cryptocurrency trading. This move was largely influenced by the high speculation in 2017 that saw Bitcoin hit its highest price of about $19,000. Beside the rapid price increments, Bitcoin also […]
By David Drake Though Bitcoin has quickly become the next best thing, it still has a lot to prove before it can cash into widespread acceptance and use. A superficial analysis of this cryptocurrency reveals high chances of making super profits for investors. While its potential as an alternative to centralized economies and devaluing local currencies makes it easily noticeable, […]
Is the Decision by Amazon and Starbucks’ to Incorporate Cryptocurrencies in their Business Models Right?
by David Drake Blockchain was just a buzzword a few years ago but today, it is going mainstream. As a result, companies are beginning to take up space in the cryptocurrency industry. Amazon and Starbucks are trailblazing the entry of corporates to the cryptocurrency market – if their recent announcement to create their own virtual currencies and integrate blockchain in […]
By David Drake Cryptocurrencies are rapidly becoming irresistible in different sectors across the globe. This is despite the many challenges facing the cryptocurrency market that include high volatility, security risks and government regulation. Experts are optimistic that these challenges are typical of any new technology or payment system that is potentially posed to revolutionize finance and business ecosystems. For players […]
Can Global Brands, Starbucks and Amazon are Bridge the Gap between Crypto and Traditional Financial Ecosystems?
By David Drake Last week, two world-known U.S. brands – Amazon and Starbucks – alluded to plansto either integrate virtual currency or blockchain technology in their corporate models. LendEDU queried 1000 Amazon clients on whether they would use the ‘Amazon Coin’ if the company was to launch it.. Results showed that more than 50 percent of the participants said they would. […]
by David Drake Ripple, a company based in San Francisco, had a difficult start in 2018. The virtual currency, XRP, has lost about 70% of its value since the start of the year due to the wide cryptocurrency crash that took place in January. But things are now looking up for XRP as the list of financial institutions, including banks, […]
By David Drake Following last week’s price plunge, Bitcoin and other cryptocurrencies are beginning to recover. However, the road to recovery has not been smooth, it’s filled with ups and downs. Just this past Monday we saw the prices of all crypto coins drop by at least 10% based on CoinMarketCap data. At the time of writing this article, the […]
By David Drake Cryptocurrencies continue to dominate the financial market, particularly after their explosive growth in 2017. As such, they have attracted the attention of central banks in different countries. Towards the end of 2017, central banks in seven leading economies, the G7 countries, indicated that they would start acquiring cryptocurrencies for purposes of strengthening foreign reserves. Coming at a […]