Crypto Guides, Knowledge & Insights

How Will Blockchain Change Digital Marketing?

The utility of blockchain in the digital world is increasing. Despite being new in this digital era, it is rapidly growing in popularity as one of the most efficient ways to store digital information and not have to worry about any unlawful access from hackers. This rapid distribution technique removes third-party sources to allow immediate transactions between two parties.　　Blockchain is being used in every possible aspect of technology for digital businesses. It is being seen as a real solution to some of todays marketing problems. Marketing experts say that “Blockchain is creating new ways of doing business across industries, particularly where greater trust and transparency is required.”　　What Is Blockchain？　　To put it simply, blockchain is a distributed ledger, a system where data and information can be recorded. It is impossible to change or hack the information stored in blockchain, which makes it so efficient in this digital age where we are bombarded with hackers and their shameful attempts to access our private information.　　Blockchain can be used to compile sales and payment data as well. Every cryptocurrency transaction can be found on the blockchain.　　How Will Blockchain Change Digital Marketing？　　Blockchain will revolutionize digital marketing as it gives customers a better sense of ownership.

2022-03-07Deep Dive

Global Commodities Skyrocket, Ounce of Gold Nears $2K, Musk Says ‘There’s a Need to Increase Oil and

Metal and Oil Markets Rip Higher, Elon Musk Insists ‘Extraordinary Times Demand Extraordinary Measures’　　On Friday, stock markets tumbled as Nasdaq, NYSE, S&P 500, and the Dow Jones Industrial Average closed the day in red. The conflict in Ukraine continues to shake investors that dont know how to cope with a wartime market.　　Moreover, after cryptocurrency markets did well last week, the end of this week turned out to be a different story, as the global market valuation of the entire crypto-economy slipped below the $2 trillion mark. At the time of writing on Saturday, March 5, the crypto economy is hovering just above $1.85 trillion in USD value.　　Gold, on the other hand, is up 1.76% per ounce of .999 fine gold during the last 24 hours, and one ounce of .999 fine silver is up 2.37% today. The precious metal gold has done well amid the conflict in Ukraine, and during the last 30 days, an ounce of gold has jumped 7.25% in USD value. On March 4, the economist and gold bug Peter Schiff tweeted about gold jumping in value along with oil prices.　　“Today both gold and oil are at record highs priced in euros,” Schiff said. “For years the

2022-03-07Deep Dive

Pushing Russia out of crypto: Singapore, Switzerland and Japan will join in the sanctions

Ukraines call on banning Russians from the crypto market was rejected by crypto exchange giants like Binance and Coinbase unless law required it.　　Even though there are no official decrees forcing exchange platforms to ban Russian IPs, many didn‘t need one. However, following the U.S.’s official step to enhance sanctions on Russia, five local South Korean exchanges announced yesterday that they are banning Russian IPs and freezing their accounts.　　These five exchanges were the only licensed ones to issue crypto to fiat transactions. Therefore, this united ban prevented Russian users from cashing out their crypto assets within South Korea.　　Singapore and Switzerland announce sanctions　　Today, Singapore made an unexpected announcement and implemented sanctions against the Russian Central Bank, their cryptocurrency transactions, and an export ban on military and electronics.　　Given Singapore‘s financial importance for the region, this decision is expected to affect Russia significantly. Also, due to the same importance, Singapore hadn’t imposed sanctions on any nation in decades. This rare decision made Singapore the first Southeast Asian country to impose sanctions on Russia.　　Following Singapore and South Korea‘s lead, Switzerland also announced that they’d freeze crypto assets that belong to Russian users. A senior official from the finance ministry said:　　“Freezing crypto assets is necessary because

2022-03-07Deep Dive

Ukraine Crypto Donations: Government Now Accepts Over 70 Crypto Assets

Calls for Widening List of Accepted Crypto Donations　　Lithuania-based crypto payment processor Coingate recently said it has begun an arrangement with the Ukrainian central bank that has seen the number of crypto assets well-wishers can donate to the countrys armed forces rise from just four to more than 70.　　This widening of the list of accepted crypto assets comes just a few days after the Ukrainian government acceded to Polkadot creator Gavin Woods pleas to have DOT added to the list of cryptos accepted for donations. As reported by Bitcoin.com News, shortly after the Ukrainian government said it would accept polkadot donations, Wood immediately honored his pledge and donated DOT coins worth over $5 million.　　Consequently, the Ukrainian governments decision to accept DOT and three other cryptocurrencies prompted more players in the crypto space, including Tron founder Justin Sun, to similarly plead with the Ukrainian government.Real-Time Conversion From Crypto to Fiat　　In his remarks following the announcement, Coingate‘s co-founder, Dmitrijus Borisenka denounced the conflict which he says “is disturbing the freedom of Ukraine and its people.” The crypto payment processor’s head of product, Sarunas Matulevicius, said:　　“We do what we do best. We have a platform that is able to process 70+ different cryptos with

2022-03-07Deep Dive

Japan Looks to Stop Sanctioned Russian Entities From Transferring Crypto Assets

As financial authorities around the world continue to target sanctioned Russian entities, regulators in Japan along with the countrys crypto association are attempting to find and close gaps that may be used to circumvent sanctions. The two bodies, however, have said they are not discussing the plan to block all Russians.　　Calls to Block Russian Users Rejected　　Japan‘s Financial Services Agency (FSA) and the Japan Virtual and Crypto Assets Exchange Association have reportedly said they are trying to find ways of stopping blacklisted Russian entities from evading sanctions via the use of cryptocurrencies. Japan’s move to target Russian cryptocurrency users has come shortly after Tokyo imposed sanctions on Russian officials including the countrys President, Vladimir Putin.　　On the other hand, a report suggested that the two parties are, however, not discussing or deliberating on a plan to block all Russian users. Instead, the report said the regulator is focused on finding ways to stop anyone that uses cryptocurrencies to evade sanctions.　　As previously reported by Bitcoin.com News, some major cryptocurrency exchanges have refused to block all Russian users as has been demanded by many including Ukrainian President Volodymyr Zelenskyy. One of these exchanges, Kraken, said it cannot freeze the accounts of Russian clients without

2022-03-07Deep Dive

Singapore to Impose Restrictions on Russian Financial and Crypto Transactions

Singapore Becomes First Southeast Asian Nation to Impose Sanctions on Russia　　For the first time in decades, as acknowledged by a former diplomat, Singapore is taking steps to sanction another nation without approval from the United Nations Security Council. The city state is preparing to do that against Russia over its military invasion of Ukraine, the South China Morning Post reported, quoting the Ministry of Foreign Affairs which stated:　　For a small state like Singapore, this is not a theoretical principle, but a dangerous precedent. This is why Singapore has strongly condemned Russias unprovoked attack on Ukraine.　　In an announcement published Saturday, the department detailed that the measures include the introduction of export controls on items that can be used for military purposes as well as restrictions on doing business with selected Russian banks — VTB Bank, Vnesheconombank, Promsvyazbank, and Bank Rossiya — and non-bank entities. Their assets and funds in Singapore shall be frozen.　　Providing financial services facilitating fund raising by the Russian government, the central bank or affiliated entities will not be permitted. Restrictions will also apply to some sectors of the economies of the two breakaway Ukrainian regions, Donetsk and Lugansk, which Russia decided to recognize as independent states.　　Furthermore, certain crypto

2022-03-07Deep Dive

Paypal Joins Other Payment and Remittance Providers Suspending Services in Russia

Payments Giant Paypal Halts Services in Russia, Maintains Withdrawals for Now　　Paypal, the global online payments provider, has joint a growing list of fintechs supporting western sanctions against Russia over its decision to invade neighboring Ukraine. The company, which had been offering Russians only cross-border transactions, terminated its services in the Russian Federation on Saturday.　　Quoted by Reuters, President and Chief Executive Dan Schulman explained the move with “the current circumstances,” noting that Paypal stands with the international community and condemns Russias military aggression against Ukraine. The platform stopped accepting new Russian-based users earlier this week.　　Through a spokesperson, Paypal added, however, that withdrawals will be supported for an unspecified period of time. The payments giant intends to “ensure that account balances are dispersed in line with applicable laws and regulations.”　　The announcement comes after calls from officials in Kyiv to suspend services in Russia and support Ukraines fundraising efforts. The U.S., California-headquartered company revealed before the weekend that it had “helped raise over $150 million for charities supporting response efforts.” The Ukrainian government and local NGOs have also received millions in crypto donations.　　Paypals move comes after other payment and remittance platforms had already suspended certain services in Russia by the end of February.

2022-03-07Deep Dive

Elon Musk Says Starlink Will Not Censor Russian News Sources Despite Government Requests

Elon Musk Refuses to Censor Russian News Sources　　Spacex and Tesla CEO Elon Musk tweeted early Saturday morning that Starlink has been told by some governments to block Russian news sources. However, Musk said, “We will not do so unless at gunpoint. Sorry to be a free speech absolutist.”　　Starlink is operated by Spacex. The service “provides high-speed, low-latency broadband internet across the globe,” its website describes.　　Many people on Twitter commended Musk for not giving in to government requests.　　Replying to this tweet, a Twitter user told Musk, “Russian ‘news’ resources are propaganda resources.” The Spacex boss replied, “All new sources are partially propaganda, some more than others.”　　Russias parliament passed a draconian censorship bill this week to prosecute anyone spreading “false news” regarding the Russian military. Penalties include fines and up to 15 years imprisonment. Anti-war protestors and those calling for foreign sanctions on Russia can also be prosecuted. False news is described as anything not officially approved by the Kremlin.　　In addition, Russias media regulator, Roskomnadzor, has issued strict guidelines for coverage of Ukraine and the Russian military. The media across the country can only publish information provided by official sources. It is forbidden, for example, to describe the attacks on Ukraine as

2022-03-06Deep Dive

Rich Dad Poor Dad’s Robert Kiyosaki Advises Investors How to Profit From Inflation

Robert Kiyosaki on Profiting From Inflation　　The author of Rich Dad Poor Dad, Robert Kiyosaki, has advised his 1.8 million Twitter followers how to profit from inflation.　　Rich Dad Poor Dad is a 1997 book co-authored by Kiyosaki and Sharon Lechter. It has been on the New York Times Best Seller List for over six years. More than 32 million copies of the book have been sold in over 51 languages across more than 109 countries.　　Kiyosaki tweeted Friday:　　How to profit from inflation. Biden wants inflation. I counter his criminal actions by investing in Texas and N. Dakota oil. Just bought a gold mine in Utah. Investing in Texas apartments, houses. Saving gold, silver, bitcoin … Invest like a capitalist.　　Kiyosaki has previously warned about inflation on several occasions. He blames President Joe Biden, his administration, and the Fed for destroying the dollar. Last year, he also warned about an imminent depression.　　In November, he similarly said he was buying more gold, silver, bitcoin, ethereum, rental real estate, and oil as concerns about inflation escalated.Kiyosaki on the Russia-Ukraine War　　The famous author has also spoken up a few times recently about the Russia-Ukraine war.　　He tweeted last week: “Putin in trouble. Ukraine‘s President Zelensky … is fighting

2022-03-06Deep Dive

Russia Proceeds With Efforts to Legalize Crypto Amid Sanctions Over Ukraine

Expert Council Meets in Russia to Discuss Law ‘On Digital Currency’　　Attempts to legalize and regulate operations with cryptocurrencies are ongoing in Russia, despite the situation surrounding the military assault the Kremlin launched in neighboring Ukraine. An expert council supporting the crypto regulatory working group at the State Duma, the lower house of parliament, is meeting today to review new legislation.　　The members of the body will hold discussions on the draft law “On Digital Currency.” The bill was submitted by the Ministry of Finance and reflects its concept on the matter. Unlike the Central Bank of Russia, the treasury department favors legalizing the industry under strict rules. Its approach has been backed by the federal government and other institutions.　　Bitnalog, a portal advising Russians on how to pay their taxes on crypto incomes and profits, has published an announcement by the Duma on Telegram about the upcoming meeting. It was originally supposed to take place on Friday, but the outlet later updated subscribers to its channel that it has been rescheduled for Saturday, March 5.　　In January, Bank of Russia proposed a blanket ban on most crypto-related activities, including use in payments, trading, and mining of digital currencies in the Russian Federation. The

2022-03-06Deep Dive

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