The government made bitcoin a legal payment system on 1 April 2017. After that, it continued to boom in Japan. As it became very popular and trending, now there is a rush for bitcoin business to register with the FSA Japan. Retail investors currently favor the $40 trillion foreign exchange margin trading market.
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On May 17th, 2017 in Zug, Switzerland Monaco Technology GMBH revealed its revolutionary Monaco VISA card and app.
Not only traditional sources, but, Monaco can also be funded with Bitcoin, Ethereum, and other ERC20 tokens. Monaco allows users to spend and send money worldwide at absolutely perfect interbank exchange rates, saving EUR30-40 on every EUR500 equivalent spent. Ethereum Futures on the delta.exchange can be found here.
Kris Marszalek, Founder of Monaco Technology, said: “The team worked incredibly hard over the last year to bring the Monaco VISA Card & App to the market.
It’s a beautifully simple product that allows users to avoid all the bank charges and currency exchanges impose on them.
We believe that every single person who holds Ether or Bitcoin needs one. It brings amazing value, transparency and peace of mind.
You will never have to worry about exchange rates again, always getting the best deal physically possible. It’s an incredible feeling!”
Indian bank Kotak Mahindra implements blockchain in trade finance:
Kotak Mahindra bank which is India’s one of the largest private banks has completed an end-to-end trade finance transaction with a client over a blockchain.
In the Indian context, experiments with blockchain applications are going on in various areas of transaction journey and processes. It also includes paper-intensive processes of Trade Finance and Supply Chain financing segments.
Some other banks also like Yes bank has completed a blockchain trial to digitalize vendor finance with the help of technology sourced from the Linux Foundation-led open-source blockchain project, Hyperledger.
ICICI bank has also started dealing with blockchain pilots.
Bored with Banking, this former Citi trader went full crypto:
In the year 2013, Arthur Hayes was utilizing his time as an equities trader for Citigroup Inc., in Hong Kong.
Six years earlier, he had an interface with something like a golden age in banking when he worked in the “snake pit”. At that time, the markets were on fire. Traders were taking helicopter trips to the casinos of Macau to celebrate their triumphs.
He liked the crowd and rush of the trading floor. After a few years, there was a financial crisis at Citi. At that time, Hayes was about to lose his job in one of the periodic culls, but, he discovered bitcoins.
Today, he is the co-founder and chief executive officer of BitMEX. BitMEX is a cryptocurrency exchange that operates out of Hong Kong.
Goldman says it may trade more than just digital currency futures; Cryptos prices rebound:
While the lack of enough security might play an important role in the exchange of hacks, the transitional processes make bitcoin and other cryptocurrencies main target for hackers.
The main disadvantage of bitcoin is immutability. Once a transaction takes place, it can never be undone. This can be one of the most probable reason for hackers to target cryptocurrencies.
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