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Bank of England Explores Digital Money, CBDC in New Discussion Paper

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The Bank of England (BoE) has released a new discussion paper titled New Digital Forms of Money exploring digital currencies and central bank digital currencies (CBDC).

A BoE press release states that the paper aims to broaden the debate around new forms of digital currency. It also contains responses to another discussion paper regarding a CBDC that was published in 2020.

Exploring stablecoins and CBDC

More specifically, the paper discusses the role of money in the economy and examines fundamental questions over various objectives of public policy. It also explores five new issues relating to digital currencies, all of which could have benefits and implications to the country’s economic stability.

Finally, the paper states the need for a clear regulatory framework before allowing a stablecoin to operate in the U.K.

Andrew Bailey, Governor of the BoE, commented:

“We live in an increasingly digitalized world where the way we make payments and use money is changing rapidly.”

The prospect of stablecoins as a means of payment and the emerging propositions of CBDCs have generated a host of issues that central banks, governments, and society as a whole, need to carefully consider and address.

“It is essential that we ask the difficult and pertinent questions when it comes to the future of these new forms of digital money.”

Gov. Bailey also said that if stablecoin payments were to become widespread, they would need the same kind of regulation as those with fiat currencies.

Meanwhile, reports indicate that the BoE has made no further decisions about issuing its own CBDC. The idea first came to light in April, when Chancellor Rishi Sunak announced the launch of an exploratory task force into the matter.

British banks’ crypto crackdown

While the BoE debates the future role of digital currencies, certain U.K. institutions have hardened their stance on cryptocurrency transactions. On May 30, reports revealed that banks such as Barclays and online challengers like Monzo and Starling were blocking transfers to crypto exchanges such as Binance and SwissBorg.

The banks enforced this issue amid fears that such transactions could leave their customers vulnerable to financial crime. British people lost more than £60 million in the last year to scams based on social media. Furthermore, nearly half of these scams reportedly involved cryptocurrency.

Starling in particular was quick to announce this as a temporary measure. Reports have since indicated that its ban will end on June 23. Barclays and Monzo are yet to confirm when they will allow crypto transfers again.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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Dale Hurst is a journalist, presenter, and novelist. Before joining the Be In Crypto team, he was an editor and senior journalist at a news, lifestyle and human-interest magazine in the UK. Cryptocurrency was one of the first subjects he specialized in when first going freelance in 2018, reviewing exchanges and analysing lawsuits.

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Source: https://beincrypto.com/bank-england-explores-digital-money-cbdc-discussion-paper/

Blockchain

30-Year-Old Entrepreneur Josh Riddett Uses Cow Waste to Mine Bitcoin

The topic of bitcoin mining is a controversial one as of late given the alleged carbon footprint it leaves behind, though one man feels he may have found a probable solution. 30-year-old Josh Riddett – the managing editor at Easy Crypto Hunter in Manchester, England – claims he has found a way to extract crypto

The post 30-Year-Old Entrepreneur Josh Riddett Uses Cow Waste to Mine Bitcoin appeared first on Live Bitcoin News.

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The topic of bitcoin mining is a controversial one as of late given the alleged carbon footprint it leaves behind, though one man feels he may have found a probable solution. 30-year-old Josh Riddett – the managing editor at Easy Crypto Hunter in Manchester, England – claims he has found a way to extract crypto from the blockchain utilizing cow manure.

Josh Riddett Is Finding Greener Ways to Mine Crypto

Bitcoin mining has been a hot topic recently, with many environmentalists saying it does irreversible damage to the Earth’s atmosphere. Reports have been issued claiming bitcoin mining has as big a carbon footprint as the city of Las Vegas, Nevada, while others claim that the process requires more energy than certain countries such as Iceland and Argentina.

Many institutional investors have thus turned away from bitcoin due to questions surrounding the mining process. Tesla CEO Elon Musk, for example, has rescinded his decision to accept BTC payments for any Tesla-based goods and services, while Kevin O’Leary of “Shark Tank” fame says he will no longer buy bitcoin mined in China given that it still utilizes coal and standard fossil fuels to extract new units.

All this does not place bitcoin or BTC mining in the best light, but Riddett is confident his way is greener, fresher, and better for the atmosphere. In a recent interview, he explains:

Years ago, farmers were encouraged to develop green energy solutions, which is one of the reasons why we have seen solar panels appear in fields over the last ten years, and these schemes came with good financial incentives. More recently, those incentives have dwindled to virtually zero, but our machines are now providing those incentives.

Riddett is tasked with operating a large mining system that utilizes methane from cow waste. This methane powers the several “computer graphics cards” that go into the mining machines. In addition, the company also utilizes several wind and solar-based generators to establish the energy needed to mine new units of bitcoin.

Despite the strength of the company, Riddett claims he has very little knowledge regarding how it all works. At the end of the day, he is the business owner, but could not even write “a single line of code” per his own words. He states:

I have always been business minded, but I am not a tech nerd. I just had months and months of studying the market to learn about cryptocurrency and blockchain while having lots of late nights watching YouTube videos about it.

Things Couldn’t Be Cleaner…

In the end, however, he confidently mentioned in his interview that the work he is doing “could not be greener. He says:

When we started this business four years ago, green energy was not on our customers’ radar, but now it is approximately 40 percent of our business, and growing every day.

Tags: Bitcoin Mining, cow manure, Josh Riddett Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://www.livebitcoinnews.com/30-year-old-entrepreneur-josh-riddett-uses-cow-waste-to-mine-bitcoins/

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Blockchain

You Already Have More Than Enough Bitcoin: Peter Schiff Tells Michael Saylor

After Michael Saylor said his company would raise another billion to buy more bitcoin, Peter Schiff called him “truly insane.”

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Michael Saylor’s initiative to continue buying more and more bitcoins makes no sense, argued the full-time BTC basher – Peter Schiff. Following the latest development coming from MicroStrategy, in which the company outlined plans to allocate another $1 billion in the asset, the prominent economist called Saylor “truly insane.”

Schiff to Saylor: Truly Insane

If you have followed the cryptocurrency markets even vaguely in the past year, two names should be popping out as the most vocal commentators. On the side of the naysayers stands the popular economist and gold bug – Peter Schiff. On the side of the proponents sits the founder and CEO of MicroStrategy – Michael Saylor.

The two have engaged in quite a few verbal confrontations on the difference of opinion on bitcoin. The latest one came out yesterday after Saylor’s software giant revealed plans to initiate a new securities offering to raise $1 billion. The firm intends to allocate this considerable amount into bitcoin, as it has done in the past.

This is where the BTC critique stepped up. In his opinion, such actions have made Saylor “truly insane.” Schiff believes MicroStrategy already has “more than enough” exposure to bitcoin, and if the asset turns out to be as successful as Saylor hopes, he would have made “all your shareholders rich.”

Schiff further alleged Saylor in buying more BTC only to “keep bitcoin from crashing” instead of actually doing something positive for shareholders and investors.


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What Has MicroStrategy Done So Much?

With Schiff claiming that MicroStrategy already has plenty of bitcoins in its stack, it’s worth reviewing how big that stash is and what have the company and its leader done for the community.

Although it became evident to the public that MicroStrategy bought BTC in August 2020, the origin of the story can actually be found a few months earlier. As Saylor revealed during the recent Bitcoin Conference in Miami, he started educating himself on the asset’s qualities after the COVID-19 pandemic infiltrated the Western World in early 2020.

His personal first purchase transpired on June 3rd that year. His firm, though, kept on accumulating after August and currently holds over 90,000 coins. Should the company proceed with raising $1 billion and putting it in BTC again, its stack could go well beyond 100,000.

Separately, the firm held a Bitcoin conference for corporations, became a node on the BTC network, and started paying non-employee directors in the primary cryptocurrency instead of cash.

Saylor also released an educational panel on BTC aimed at retail investors and has openly praised the asset on all traditional media outlets he has attended. And, all of this transpired within a year.

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/you-already-have-more-than-enough-bitcoin-peter-schiff-tells-michael-saylor/

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Blockchain

PARSIQ Raises $3M in Strategic Venture Round Joined by Solana, and Others

[PRESS RELEASE – Tallinn, Estonia, 15th June 2021] PARSIQ, the blockchain monitoring, and workflow automation platform has raised a $3M Series A round from leading venture investors in the cryptocurrency ecosystem. The round was backed by Solana Foundation, with additional participation from, Mindworks VC, Axia8 Ventures, Krypital Group, CoinUnited, Transfero Swiss, Elevate Ventures, Sanctum Ventures […]

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[PRESS RELEASE – Tallinn, Estonia, 15th June 2021]

PARSIQ, the blockchain monitoring, and workflow automation platform has raised a $3M Series A round from leading venture investors in the cryptocurrency ecosystem.

The round was backed by Solana Foundation, with additional participation from, Mindworks VC, Axia8 Ventures, Krypital Group, CoinUnited, Transfero Swiss, Elevate Ventures, Sanctum Ventures and others. Evan Cheng, Director of Research at Facebook’s Novi Financial (formerly Calibra), has contributed to the round as an individual investor. The venture round marks the first time that PARSIQ collected funds from institutional investors, having been previously entirely funded through a public token sale in 2019.

The venture funding round has been devised to obtain new strategic partners and better position PARSIQ in the cryptocurrency ecosystem, offering major players a stake in the project’s success. PARSIQ will work with the new investors on product development, go-to-market strategies, and marketing, benefiting from the partners’ expertise and position in the market. In particular, PARSIQ will collaborate with the Solana Foundation to bring its Smart-Triggers to Solana ecosystem projects, allowing them to easily read and respond to blockchain data without having to develop custom solutions. PARSIQ currently supports major blockchains like Bitcoin, Ethereum, as well as Solana, Binance Smart Chain, and others.

“We are excited to have received the support of this diverse and highly regarded set of crypto ecosystem participants,” said Tom Tirman, CEO of PARSIQ. “While our runway was more than sufficient from our earlier raise, we felt that to guarantee the success of our project, we needed additional support from major players. With their help, we will be able to mount the strongest marketing and development push for PARSIQ yet.”

Anatoly Yakovenko, CEO of Solana Labs. “Having reliable and simple access to blockchain data on Solana means that projects building on our platform will have fewer headaches in building out their stack, allowing them to concentrate on their product, and PARSIQ is positioned to help bridge the off-chain and on-chain world.”

About PARSIQ

PARSIQ is a blockchain monitoring and workflow automation platform that serves as a multi-level bridge between blockchains and off-chain applications. PARSIQ technology is a proprietary ParsiQL programming language that allows users to monitor and interpret an endless stream of data on the blockchain; thus, it’s possible to monitor traders and ordinary users’ wallets.

About Solana

Solana is a high-performance Proof of Stake (PoS) blockchain focused on delivering scalability without sacrificing decentralization or security.

Solana unlocks concurrent GPU-parallelization for the first time, using Proof of History (PoH), a clock before consensus, delivering high speed, low latency, and inexpensive transactions, all at layer 1 without sharding.
Developed by a team of former Qualcomm, Apple, Intel, and Dropbox engineers, Solana is stewarded by The Solana Foundation and is advanced by a loyal community of decentralized developers around the world.

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Source: https://cryptopotato.com/parsiq-raises-3m-in-strategic-venture-round-joined-by-solana-and-others/

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Blockchain

Next-gen DeFi Token Launchpad Lemonade Announces DePo IDO Public Sale

[PRESS RELEASE – Singapore, Singapore, 15th June 2021] After the successful STAK token sale, Lemonade to hold its first IDO launch, DePo on June 17, 2021 Lemonade, a DeFi token launchpad governed by the Jigstack DAO, is excited to announce the IDO of DePo. The DePo whitelist process starts June 17, 2021, whereas the public […]

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[PRESS RELEASE – Singapore, Singapore, 15th June 2021]

After the successful STAK token sale, Lemonade to hold its first IDO launch, DePo on June 17, 2021
Lemonade, a DeFi token launchpad governed by the Jigstack DAO, is excited to announce the IDO of DePo. The DePo whitelist process starts June 17, 2021, whereas the public sale final date will be disclosed in the coming days.

DePo streamlines the crypto experience for users. It aims to be the first multi-market aggregator in the decentralized finance ecosystem.

DePo offers a unified interface where users can easily connect to all crypto exchanges, NFT marketplaces, decentralized protocols, ERC20 wallets, and staking platforms.

Considering there are more than 600 crypto exchanges and 10,000 cryptocurrencies, it has become a time-consuming endeavor to switch between different exchanges and currencies manually.

A unified interface will not only save users time but also make it easier for non-crypto people to join the crypto ecosystem.

Users who own Jigstack’s STAK tokens will be able to participate in DePo’s IDO through a three-tiered system. The more STAK a user holds, the more access he has to participate in the IDO.

On Lemonade, the STAK token holders get access to unique opportunities such as the DePo IDO. They can buy newly issued tokens before their public listing on larger exchanges.

Since the STAK IDO, Jigstack has further refined the Lemonade launchpad and added new functionalities including the ANTI-bot.

The ANTI-bot blacklisting schema attaches directly to the campaign. It gives the token issuer a buffer time between the sale and claim period to block out the bots, suspicious users, and correct any accidental blacklists. The collected ETH will be sent to the IDO owner, but the bot will not be able to claim the tokens.

ABOUT LEMONADE

Lemonade is a DeFi token launchpad that allows token issuers to raise funds without having to deal with complex setups or involve exploitative intermediaries. It offers permissionless, hands-free automation, and a customizable sales structure to ensure a seamless user experience.

Lemonade is governed by the Jigstack DAO. Jigstack is an Ethereum-based DAO that governs a portfolio of high-quality products. STAK is Jigstack’s governance token, which can be used to manage Lemonade and other Jigstack protocols.

Find out more about Lemonade:

Website: https://lemonadefi.com/

Twitter: https://twitter.com/lemonade_defi

Telegram: https://t.me/Lemonade_DeFi

Medium: https://medium.com/@Lemonade_DeFi

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/next-gen-defi-token-launchpad-lemonade-announces-depo-ido-public-sale/

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