venezuela

eToro Launches GoodDollar and Leverages Yield Farming and Staking to Deliver a Sustainable Global Basic Income

September 8, 2020 — Multi-asset investment platform, eToro, is excited to announce that it has launched GoodDollar: a non-profit initiative that leverages decentralized finance to offer a protocol for distributed basic income. First proposed at Web Summit 2018, the concept has since advanced into a working economic model, wallet, and digital basic income coin that was launched this week. The launch of GoodDollar means that anyone with an internet connection and phone number can receive its native crypto asset, G$, store it in the GoodDollar wallet, and transact. A pool

Latin America sends a ton of crypto to Asia, and vice versa

New York-based blockchain analytics firm Chainalysis has published new research highlighting there have been up to 200,000 crypto transactions in the past year, worth more than $1 billion between Latin America and Asia.The study Latin America Mitigates Economic Turbulence with Cryptocurrency, analyzed crypto trends in Latin America between July 2019, and June 2020, and shows that banking access issues and the need for remittances are driving unique patterns of cryptocurrency usage, especially in crossborder commercial-related transactions.While North America and Western Europe are the biggest source of fiat remittances to Latin

Turkey looking to launch their own national digital currency

Although we have entered the Chinese year of the Rat, this also might be Turkey’s year of crypto. According to a recent survey by Statista, 16.8 million people in Turkey (20% of the population) use or possess a cryptocurrency, and rumour has it that they are about to wade in with their own digital lira or “Turkcoin." This could be a smart move for the country often regarded as a critical strategic partner to both the east and west due to its central position to both. With the Turkish lira

Despite Utility, Bitcoin Cannot Fix Venezuela

There are some misconceptions about how frequently Bitcoin is being used in Venezuela and the problems it can solve there.  In issue number 18 of Bitcoin Magazine, published in January 2014, Cathy Reisenwitz wrote one of, if not the, first accounts arguing why Venezuelans could benefit from Bitcoin — an article titled “Grounded Venezuelans May Want to Escape to Bitcoin.” The original cryptocurrency, Reisenwitz stated, could provide an escape hatch from what was then escalating economic oppression under the regime of President Nicolás Maduro. To that end, she also wrote