The post [Guest Post] The True Use Cases for Bitcoin and Its Role in Banking the Unbanked appeared first on CoinReport.
Ernesto Huerto is the very embodiment of Bitcoin. As the operator of Crypto Space, a physical bitcoin exchange in Los Angeles’ San Pedro neighborhood, Huerto knows more than most about the challenges of running a cryptocurrency business while maintaining banking access and compliance. In a wide-ranging interview, the Crypto Space owner has disclosed the realities of straddling the line that separates centralized and decentralized finance, and the underhand tactics big banks deploy to crush crypto startups.
This is the second instalment of reporter Colin Harper's "Living on Bitcoin" experience in San Francisco. Find out what happened to him on Day 1 here.
I woke up on Christian’s couch stiff-necked and cotton-mouthed. A bit more fitting for the “living on internet money” survival vibe, yeah?
A friend of a friend of Christian’s roommates (who are starting a business and moving to LA today) was out cold on an air mattress next to a stripped Christmas tree, snoring into the streams of soon-after-sunrise light filtering through the window. Another blow-up mattress adjacent to the couch was vacant. Its former occupant, Julian Martinez, a copywriter at Quantstamp and Christian’s friend, had left early in the morning, politely folding his sheets before he left.
Stranded Iranian students in the United Kingdom have turned to Bitcoin as a tool to circumvent the economic sanctions placed on their country, according to a Guardian report. Parsa Sadat, a law student at the University of Reading, is among a bevy of Iranian students who can’t pay their tuition fees and are completely stranded at school after Iran was hit with sanctions by U.S. President Donald Trump last month.
Points (PTS), a blockchain data collaboration protocol for better credit scoring and inclusive finance, has announced $ 8 million in funding from traditional and blockchain venture capital including DHVC, Cherubic Ventures, Ce Yuan, Ontology Foundation, Nest.Bio Ventures, and Zhong Cheng Xin Credit Technology.
In an effort to make credit accessible to the world’s unbanked population of 1.7 billion people, Points uses blockchain technology and AI to develop a secure and configurable protocol that encourages trustless entities, including banks, institutions, tech companies and consumers to participate in sharing their proprietary data.
One of the first launches out of the gate at Consensus 2018 is from SALT (Secured Automated Lending Technology) Lending Holdings. The Colorado blockchain-based cash loan provider is launching the SALT Bridge Foundation to create a financial leg up for the estimated two billion unbanked and underbanked people around the world.
SALT (named after salt — historically the first commodity-based money) uses blockchain technology and smart contracts to offer a lending program based on cryptocurrencies as a collateral.
The mission of the SALT Bridge Foundation is to use blockchain technology and cryptocurrency education and lending services to financially empower those without banking services in the developing world.
DESTO, the innovative mobile blockchain financial technology company, announces its forthcoming ICO. Their mission is to blaze a new trail within the financial world, by offering “cashless commerce” underpinned by blockchain technology.
Wilmington, Delaware, March 23, 2018, The core purpose of DESTO’s unique, accessible and inclusive payment alternatives is to provide financial enfranchisement to the 2.5 billion individuals around the globe currently without traditional bank access.
Its borderless financial services offering is being supported with its token, DEO. The company’s companion mobile payment solutions will be underpinned by blockchain technology via DESTO PAY and the DESTO APP.
The global unbanked have been frozen out of most economic ecosystems, but Paxful is changing this through the selling of gift cards on their cryptocurrency exchange.
The rich and elite have a lot of options when it comes to economic decisions. They can invest in gold, stocks, bonds, precious gems, artwork, real estate, automobiles, and cryptocurrency. The only snag they face is the wait to convert the value of one asset into another, but such a problem is a minor one indeed. By contrast, the unbanked are essentially locked out of most economic ecosystems due to having to physically hand over fiat for goods and services. Even getting involved in cryptocurrency is an issue for the unbanked, but Paxful is offering an unexpected gateway: gift cards.
ALAX’s token-based technology will provide access to tens of millions of ‘unbanked’ customers worldwide. ALAX TGE set to commence on April 17th, 2018, with the platform scheduled to be available immediately following its conclusion.
Hong Kong, February 22nd, 2018 – ALAX, a new venture between blockchain technology company DECENT and games distribution platform Dragonfly, has today released a white paper outlining further details of its token structure and confirming that it’s TGE will commence on April 17th, 2018.
A number of intended partnerships are set to be announced in the coming days, which will see the platform preinstalled on millions of smartphones, particularly in the fast-growing South-East Asian and South Asian mobile markets.