Controversial Tether hits the crypto news again only five days after losing its US dollar peg.
The people who are defending tether claim that supporters of other stablecoins are making a coordinated assault on tether which brings FUD in the entire crypto space. However, Mike Novogratz believes that the reason for the loss of the USD peg comes as a fault of the issuer’s lack of transparency.
“I think Tether didn’t do a great job in terms of creating transparency.”
He explained his stance on a conference held in Frankfurt this Wednesday where he especially called out the token’s creator Tether Limited, for operating offshore and being very wary of its financial relations.
Currently, Tether is now believed to be banking with the Deltec Bank after teaming up with the Puerto Rican institution Noble Bank. However, none of these relationships have been confirmed in the public.
Novogratz also noted that he prefers some of the other stablecoins such as Gemini Dollar issued by the Winklevoss twins. This is because Gemini’s assets are housed in a USA-based bank and also the issuer received approval from the New York Department of Financial Services. Gemini has also been evaluated for its monthly attestation reporting that the token is always fully backed by the US dollar.
He also believes that the newer stablecoins are ideal for transactional exchanges.
Novogratz believes that the USDT is always fully-backed by physical dollars and stressed that the competition within the stable coin market is growing immensely.
“Id like to put context to these quotes as the last thing I want to do is spread FUD. I said I thought tether has a dollar for every tether and that we actively traded it. The fact that almost $700mm has been redeemed in an orderly fashion is important,” said Novogratz.
Binance Announces Major Changes To Launchpad Token Sale Format
“Other market participants may view this as an opportunity, and countertrade to even out the fluctuations.”The Binance Launchpad is the company’s token launch platform, as the name says, and in most recent times it has concluded a $4 million sale of the Celer Network (CELR) token seven days ago. The platform also conducted the Fetch.AI (FET) token sale and was able to raise about $6 million in just 20 seconds back in February. As previously reported, multiple changes were done to the Binance Application Programming Interface that shows how the company is working hard on implementing margin trading. A week ago, LBank and Bit-Z both of which are exchanges, overtook Binance on the adjusted trade volume according to the rankings on CoinMarketCap but the newly found reports show that most of their volume is fake.
Central Bank Of France Won’t Be Issuing Its Own Digital Currency: PwC Executive
“France’s central bank may not be the best entity to drive forward such a digital currency project, which would sit within the prerogatives of the European Central Bank. Having said this, Banque de France could seize technological leadership by following European Central Bank guidance. It is clear that a European-level project would be very complex and challenging governance-wise, requiring alignment and the political consensus of all relevant stakeholders from each Member State.”Kalfon continued that the central bank of France should let the large corporations such as Facebook and JPMorgan to test the technology first as an experiment and later the banks could give it a try. She said:
“This would reduce the likelihood of potentially negative consequences on the economy arising from any central bank issuing a digital currency.The underlying rationale is…to achieve the right balance between investor protection and technology friendliness.”The French minister of Finance Bruno Le Maire is known to be a bitcoin opponent but he later changed his mind and embraced cryptocurrencies. He even said that he is passionate about blockchain technology and wants to make sure that the citizens of France are among the leading countries in the world that are crypto-active. However, he believes that the crypto revolution in the country could not happen without better regulation. Also, two members of the French Parliament urged the members of the government to invest about 500 million euros in blockchain development by saying:
“2019 will be the year of the blockchain in Franc. This 10-year technology is moving out of the experimental stage into industrial implementation. The public will see the emergence of its uses in their daily lives.”
Shipping Giant UPS Announces New Blockchain Integration Aimed To Increase B2B eCommerce Sales
The CEO of Inxeption commented on the partnersh““We’re revolutionizing B2B e-commerce and bringing companies and their customers together online in a trusted manner. This relationship creates simplified pricing solutions for B2B merchants with limited digital marketing and IT resources to easily manage all aspects of selling and shipping from one secure place."
Bitcoin Expertise Is ‘Exploding’ Among Insurance Professionals In 2019: Study
“If you are not already involved in a blockchain project, you need to start looking for opportunities to test the waters with a limited use case or low-impact proof of concept,” is what Greg Donaldson said in the report, namely a senior analyst at Aite Group.When it comes to the actual growth and the need for blockchain experts, it is constantly increasing. 'Talent growth' is a category that we can see in the report which shows dramatic results. For example, only seven individuals showed their Bitcoin expertise in April 2017 - but 390 of them did in January 2019. Similarly, only two claimed both insurance and blockchain in their expertise - but 2,260 were skilled in both in January 2019.
“The interest in this technology has created an extreme need for more experts who can help the insurance industry develop solutions using blockchain,” the report notes.To sum things up, the report says that there is one system that is already implemented by some companies - which actually makes the insurance process more transparent and efficient. It keeps all of the customer information on a 'permissioned' blockchain - starting from the moment when a customer is offered a price quotation for a policy.
“Then once the customer purchases the policy, the customer knows the status and receives a policy and proof of insurance almost instantly,” explains Aite.
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