Virtual currency is appearing on the balance sheet of a growing number of companies, including traditional retailers and financial institutions. Yet cryptocurrency’s rollercoaster volatility means new challenges for handling everything from payments to taxes, and more. The CFO of America’s biggest virtual currency exchange and a blockchain-evangelizing e-commerce pioneer offer an inside account.
Patrick M. Byrne, Founder and CEO, Overstock.com Alesia Haas, Chief Financial Officer, Coinbase Global Inc. Moderator: Adam Lashinsky, FORTUNE
Facebook unveiled plans for a new, global financial system with a broad group of partners from Visa to Uber on board to create a cryptocurrency it expects will one day trade much like the U.S. dollar and inject a new source of revenue.
This video outlines the basic premise of privacy coins and why they’re important. It also touches upon some of the mechanisms they use to keep your transactions private, referencing ZCash and Monero. Think of privacy coins like the digital equivalent of cash.
In this part we discuss economic decisions you’ll have to make about your token– how frequently it should be used, what will it be used for, and how do you actually distribute it. Then we’ll talk about the different types of value that you can create, and what that means for your project.
This guide outlines many of the factors that make up a token’s value. This part introduces how the token is minted, where it’s built, what type of tokens have more value and a brief intro to utility and security tokens.
What is An Initial Coin Offering?
ICOs are basically blockchain crowdsales, the cryptocurrency version of crowdfunding. The ICOs have been truly revolutionary and have managed to accomplish many amazing tasks:
They have provided the simplest path by which DAPP developers can get the required funding for their project.
Anyone can become invested in a project they are interested in by purchasing the tokens of that particular DAPP and become a part of the project themselves.
Western Union is exploring the use of blockchain and cryptocurrency to help connect the cash and digital worlds.
They have access to over half a million retail locations as well over a billion bank accounts through the banks themselves. In that regard, they consider themselves as an on- and off-ramp for global money movement.
Western Union President, Odilon Almeida, discusses three things that need to be solved to establish a broadly accepted digital currency:
1) volatility 2) governance 3) compliance
They are running a pilot program with Ripple.
Almeida says they consider it would be just an additional currency. They already operate with 130 currencies. He says it may simply represent one more option they offer customers.
Malta is one of the smallest countries in the world, with a population of less than 500,000. The island is a speck in the Mediterranean Sea, between Europe and Africa.
Malta gained its national independence from Great Britain in 1964.
As a small country with limited natural resources, they have the willingness and ability to move quickly to adopt new opportunities that can grow their economy.
Malta has made itself very welcoming to blockchain and cryptocurrency companies by establishing friendly regulation and low taxes for such businesses.
Hence, capital, start-ups and talent are leaving less friendly jurisdictions to set up shop in Malta.
So far, the welcoming hand has benefited Malta with a new influx of revenue for the country.
The above video includes interviews with the Finance Minister of Malta, Edward Scicluna; Changpeng Zhao (Binance); John McAfee; Tim Byun (OKEX ); Alexandre Dreyfus (chiliZ); and Marc Taverner (Bitfury).