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Cryptocurrency payments will be a reality on the high street within two years, say SME owners

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Study from Paymentsense also reveals how other alternative currencies have already established a foothold

Over a third (35%) of SME owners expect cryptocurrency payments to become a reality on the high street within two years, according to new research* from card machine provider Paymentsense. Some small business owners are even more optimistic about the its potential, with over a fifth (21%) predicting that cryptocurrency will start appearing within one year.

Despite these bold predictions, the study revealed hesitation amongst SMEs to take the plunge and start accepting the payment method. Only one-in-ten small business owners said they already take cryptocurrency payments (13%).

The recent volatility of Bitcoin doesn’t seem to have discouraged SME owners when it comes to their own cryptocurrency investment, however. Almost six in ten (59%) said they’d consider investing in it, with approaching a fifth (18%) already investing.

International and Premiership footballer Thomas Hal-Robson-Kanu, who founded The Turmeric Co. in 2016 said: “We started taking cryptocurrency payments at the end of 2017, and believe they are going to revolutionise global transactions for businesses at all levels. Instantaneous settlements with no need for centralised third parties and fees are a big plus. We’re a forward thinking company with ambitious growth plans, so this flexibility is important to us. Cryptocurrencies are a really exciting payment option.”

The study also revealed that other ways of paying have established a foothold amongst UK small businesses.

Almost half (46%) of SME owners questioned accept alternative currencies, with over a quarter (27%) involved in schemes such as the Bristol, Liverpool, Brixton and Lewes pound to encourage local spending. A further 15% said they accept national bartering schemes such as Bartercard, with 11% taking regional gift vouchers.

Guy Moreve, head of marketing at Paymentsense said: “It’s clear that cryptocurrencies are moving swiftly towards the mainstream. However, small business owners considering cryptocurrency as a payment option should be clear about how they can integrate it with their existing financial arrangements. Will suppliers or staff accept it? Can they pay local and national government agencies with it?

“Also, the value of unregulated cryptocurrency changes fast. This has significant implications for an SME’s revenue security. Using a trusted payment processor or merchant service provider can help guard against this by allowing a swift currency exchange, and improve security processes. For entrepreneurs in emerging sectors it might be worth the risks involved, but for others in more established or slower-moving areas it could be wiser to wait and see how things evolve over the next six to 12 months.”

 

* Commissioned research took place from January 17-21, 2018 amongst a nationally representative sample of 504 small business owners.

Research source: https://www.paymentsense.co.uk/blog/cryptocurrency-payments-research/

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Press Releases

Tech Giants Opt for Ethereum: Why ETH is Still Behind BTC

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There’s been huge news for Ethereum recently. Some of the world’s biggest tech companies and most famous technology entrepreneurs have shown their support for the blockchain platform. This is in addition to the many large companies that have already been supporting Ethereum for years. But, despite all this, Ether (ETH) is still lagging behind Bitcoin (BTC) in all the ways that matter: price, transaction volume, and market capitalization. Why is Ethereum still struggling to keep pace with Bitcoin so many years down the track? Let’s take a look at how Ethereum has been adopted in recent months, and how this is affecting the price of ETH.

Amazon Shows Support For Ethereum With a New Managed Blockchain Service

Amazon has recently made shockwaves across the blockchain industry, when they announced their managed blockchain services in an exciting press release. They say the service will allow users to set up and manage their own decentralized blockchain network with just a few clicks. This is a huge claim considering the difficulty of achieving that task from scratch. The really good news for Ethereum is that the new service will soon have support for the Ethereum network due to some of its unique properties. On their website, they declare that “Ethereum is well suited for highly distributed blockchain networks where transparency of data for all members is important”. This is a huge deal for Ethereum.  

Elon Musk Declares His Faith In Ethereum with One Word

Elon Musk has caused another stir on Twitter, this time in the blockchain world. He did it with a one-word tweet, “Ethereum”. The tweet has gained almost 10,000 retweets since then. That’s a big endorsement coming from one of the greatest tech visionaries of our time. Especially, as it comes when Ethereum has been struggling.  

Many Other Companies Are Onboard With Ethereum Too

These are just the most recent additions to the list of big names declaring their support for the Ethereum vision. The Ethereum Enterprise Alliance is a group of big businesses committed to exploring and developing the decentralized technology that Ethereum is built on. The members include some massive names, such as Intel, Microsoft, JP Morgan, Accenture, and Deloitte. JP Morgan has even used the Ethereum technology to build its own blockchain networks for moving some of its enormous sums of money quickly around the globe.  

So Why Isn’t Ethereum Number 1 Yet?

All this should be enough to propel Ethereum into the stratosphere of development and adoption. But a quick look at the price and market cap numbers shows that Ethereum is even further behind Bitcoin than it was a few years ago. Ethereum has dropped massively since its peak price of over $1,000 and has never recovered to anywhere near those levels. So what’s going on?  

The Same Old Scalability Problems

Ethereum has had one serious challenge for the last few years: scalability. Ethereum has never really managed to breach its transaction ceiling of around 26 transactions per second. That level is just not going to cut it out for a major global transaction network. Bitcoin has the same problem, but it has some exciting solutions already being used and tested. The Bitcoin Lightning Network is a “layer 2” solution that is used to scale Bitcoin transactions on top of the core Bitcoin network. Ethereum does have some potential solutions of its own. Ethereum Plasma promises to add a layer 2 solution to the Ethereum network to allow for much higher transaction volumes. However, right now, these projects are still far off proving they can take Ethereum to a global scale.  

The Growing Threat of Competitor Networks

Perhaps the biggest reason why Ethereum hasn’t soared to the top spot on the crypto charts is the growing number of serious competitors to Ethereum. Until recently, Ethereum has been the only real choice for developers in need of a global decentralized network to build their applications on. The same with ICO platforms, too. This gave Ethereum the first mover advantage and helped it grow tremendously in its early stages. These days, however, Ethereum has plenty of plausible competitors. Using the Ethereum network isn’t a necessity for developers, it’s a choice. For example, while Amazon plans to support Ethereum for their managed blockchain solutions, it already supports Hyperledger Fabric. The growth of alternative networks and protocols such as EOS, Stellar, Cardano, Tron, Neo, and many more are hurting Ethereum. What’s more, many of these networks already offer much better performance than Ethereum in certain areas. For example, EOS is a protocol designed to build decentralized applications similar to Ethereum’s. But, with a completely different take on its consensus algorithm, it allows for a much higher transaction volume and speed than Ethereum. These competitor networks are now highlighting the weaknesses of Ethereum. They are putting pressure on the Ethereum development team and adding more uncertainty to the future of the Ethereum network.  

Bitcoin is Seen Differently

Bitcoin is facing many of the same technological problems, and even more competitors for its limited use cases. However, Bitcoin has kept growing because it is seen in a different way by buyers. These days, Bitcoin is seen more as ‘digital gold’, than the future central financial platform. Bitcoin buyers know that faster and better competitor networks may arise, but Bitcoin is still the original cryptocurrency. This is why Bitcoin buyers are happy to invest heavily in the cryptocurrency, even as real-world use cases and adoption remain fairly stagnant.  

Ethereum Needs to Really Compete

Ethereum doesn’t have the same advantages as Bitcoin. If it wants to cement its place as the number one decentralized network in the world, it needs to earn it. It needs to prove its value by developing technology that works in the real world, and applications that get used. Ethereum has got the support of tech giants like Amazon and influencers like Elon Musk. But, if ETH is ever to overtake BTC, it needs to use that support and take it to the next level as soon as possible.
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Press Releases

Storecoin’s Third Milestone Token Offering Launching, Ari Paul and BlockTower Capital are Early Backers

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Storecoin
June 20th 2019 Milestone Token Offering (MTO) Planned for Storecoin This Regulation D and Regulation S securities offering sets out to bring in over 500 new wallets, and up to $4.97 Million of Treasury into the project. Storecoin is a zero-fee payment and p2p cloud computing platform with early backing from Ari Paul of BlockTower, Matt Ocko, AlphaBit Fund, Ari Nazir of Neural Capital, and more -- is launching its long-awaited Milestone Token Offering on Thursday, June 20th at 12pm PT. Apply for the sale at: http://sale.storecoin.com.   Storecoin forecasts 1-3 additional MTO’s as it continues to execute on its mission before the mainnet launches. Storecoin has taken a strong anti-ICO stance since the inception of the project. We are a committed to growing Treasury on the basis of achieving key project milestones. These global MTOs align with transparency and trust for it’s growing the community and eager participants. Here's a link to see key Storecoin milestones achieved since its last MTO in January 2018.   About this Milestone Token Offering (MTO) Storecoin will sell up to $4.97 Million in STORE during this Security Token Offering. The global Regulation D and Regulation S offering aims to bring 500 new wallets to the project, with the purchase minimum at $2,500 and maximum at $1.79 Million. This milestone sale ends once one of the following occurs: the $4.97 Million maximum cap is reached or by August 30, 2019. United States purchasers must qualify as accredited investors. Sales to purchasers who are not U.S. Persons will be made only in accordance with applicable laws. The sale will be offered as a sequence of three phased pricing rounds. Each sale phase will be offered on a first-registered and first-funded basis. Once a phase is fully registered and funded, the next phase will open up and be offered to the next registered buyer.   The proceeds from this sale will be used for a number of vital project building activities, including:
  • Releasing the alpha network for BlockFin, our parallel and pipelined consensus engine
  • Multiple security audits for our BlockFin BFT consensus algorithm
  • Begin hosting STORE meet-ups around the world
  • Releasing our Governance, Economics, and Security Papers for public peer review
  • Hosting the first-ever Conference, a research and governance global gathering
Register for the Milestone Token Offering at: http://sale.storecoin.com   About Us Zero-fee payments and p2p cloud computing platform. The public blockchain will enable data to be tokenized, open, and globally tradable. Storecoin will transform data into p2p money (into datacoins). Governance will be coordinated by checks and balances, separation of powers, and shared security (decentralized federalism). Storecoin is a verified Messari Registry project: https://messari.io/asset/storecoin To learn more, visit http://storecoin.com. Download a one-pager at http://storecoin.com/summary (PDF).   Links E-mail: team@storecoin.com Website: http://storecoin.com Telegram Group: http://t.me/storecoin Twitter: http://twitter.com/storecoin
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BXB Exchange A new cryptocurrency trading platform has entered the scene to offer services as a digital currency exchange

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BXB Exchange
Talinn, Estonia: A new cryptocurrency trading platform has entered the scene to offer services as a digital currency exchange. BXB Exchange launched its platform with more features than other similar services, to cater to cryptocurrency investors and traders who are looking to exchange digital assets such as the popular Bitcoin. BXB boasts of a number of advantages in using the platform over existing services. These features include auto-trading, tap trading, options trading and futures trading. The platform is built from the ground up, giving users the most secure and efficient trading experience. The featured tools such as auto and tap trading make trading effortless, with hotkeys that help short-term traders get in and out of trades. The options trading feature, on the other hand, is designed to be simple enough for new users and comprehensive enough for even the most experienced traders. And lastly, the futures trading tool gives a 1% price change in the market a chance to give a 100% return in pocket. The company recently announced that IMChat will be launched on BXB Turbo, as the platform’s first initial exchange offering (IEO) project. It’s an instant messaging application that’s designed based on blockchain technology. The successful integration of instant messaging and blockchain support crypto wallets, payments, transactions, and digital currency red pocket, while providing optimized instant messaging experience. This feature will be launched together with the platform’s trading products that include futures and options trading. According to BXB Exchange CEO Kwan Phik, “IMchat is a very solid and mature project. They have market-proven products and a significant user base which gives them a large development space in the IM industry. Among the many projects that we have reviewed, we are very excited about IMchat in particular. We are very happy to have them as our first project to be launching on BXB Turbo. We are looking forward to seeing the success of IMchat." BXB Exchange is an Estonia-based financial and blockchain tech company that’s made up of a team from Wall Street’s top quantitative hedge fund and traditional financial trading technical experts. The company has extensive experience in understanding the underlying structure of cryptocurrency exchange, such as security mechanisms, liquidity market making, and ultra-low latency systems.
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Taklimakan Network Is Disrupting Social Media Using Blockchain And AI Solutions On A Fully Operational Platform

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If you’re a cryptocurrency investor, trader, or analyst, you might want to pay attention to Taklimakan Network new beta Platform. It’s definitely set to change the game. Following innovative business models like AirBnB, Uber, and Amazon, Taklimakan will take the community by storm. This innovative crypto platform will transform the way you do business in the cryptocurrency market. Created by trading and IT development leading professionals, it’s a one-stop solution for all levels of cryptocurrency users, ranging from beginners all the way up to experts. Simplicity, usability, modern design and user-friendly functionality make the platform an indispensable tool for exploring the cryptocurrency industry, investing and building your own business of any category. One of the most exciting aspects for users is the ability to meet other blockchain enthusiasts. The platform uses a social networking function to facilitate this. There are already 8,000 users on the platform without any marketing efforts! This undeniably shows the popularity of the platform. Taklimakan Network is currently using over 10 different marketing streams to get the product noticed and will keep expanding. With such efforts being deployed, the one million users milestone is not far behind. The platform’s audience is very diverse. Everyone will be able to find interest and any information they need, no matter what language they speak or what country they live in. Gone are the days of shuffling around the web using numerous sources to get the information you need. Taklimakan has prioritized ease and efficiency to serve you best.

State-of-the-Art Platform Functionality:  

  • Investment: Users will be able to ask and attract investment from other users
  • E-commerce Marketplace: Users will be able to make purchases and sales using cryptocurrency on a variety of shops
  • Crypto Map
  • Gamification: Users will be able to compete with each other within the platform
  • Chat: Users will be able to communicate with each other in real-time
  • News: News aggregator with automatic publication of cryptocurrency news from top sources in a variety of languages
  • Market: Cryptocurrency market statistics, capitalization, indices, cryptocurrencies charts and exchange rates, where you can run different comparative analysis
  • Trading: Trading signals, strategies, technical and fundamental analysis from top experts of the field are included
  • Analytics: There will be analytical reviews and tools
  • Education: The platform includes a library with articles, courses, video lectures from top crypto experts
  • Blogs: Users are able to create and monetize blog posts
Taklimakan Network is on a mission to enhance crypto education around the world. Beginners can increase their investment skills in trading and investment, get professional analysis of blockchain startups and increase their capital, all by interacting with this new product.   About Taklimakan Network: Taklimakan Network is your compass in the cryptocurrency world. This is a global project aimed for blockchain industry promotion and development, as well as introducing cryptocurrency to the masses! Platform users can increase their level of crypto literacy and learn practical trading skills. Taklimakan is a multinational company with a marketing plan tailored for each region of the world. With their huge community of supporters, including famous traders and bloggers, they will no doubt reach new heights with their business.   Connect with Taklimakan Network: Try beta here – https://taklimakan.network/ Watch on YouTube - https://www.youtube.com/channel/UCm1TgNL5iGJLsQ3L59sdDnA Follow Taklimakan Network on Twitter – https://twitter.com/taklimakan_net Find Taklimakan Network on Facebook – http://fb.com/taklimakannetwork Check out the official Taklimakan Network Telegram – https://t.me/taklimakan_news Read about Taklimakan Network on Medium – http://medium.com/@taklimakan Discuss Taklimakan Network on Reddit – https://www.reddit.com/user/Taklimakan/   Media Contact   Contact Name: Berik Yernazarov Contact Email: berik@taklimakan.network  
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