$22 Trillion U.S. Debt Highlights The Importance Of Bitcoin
The national debt of the United States of America has reached an astronomic high value to $22 trillion.
It is a terrifying reminder of the fragile state of the fiat monetary system.
Things will soon get worse due to the introduction of a $1.5 billion tax cut plan that was introduced by the incumbent president Donald Trump.
However, it must be noted that this problem cannot be blamed to any one president but as a result of a failing economic system.
Pundits say that when recession hits the U.S., the government will not be able to support struggling institutions the same manner as what they did in the 2008 financial crisis.
Many will turn to the federal reserve to print more money, increasing inflation and pushing down the purchasing power of the USD.
It may even result to a hyperinflation similar to what happened in Venezuela.
Pundits say this is the very reason why bitcoin exist.
Bitcoin has a fix supply and has an anti-inflationary policy.
It is an alternative monetary system that is not and could not be controlled or manipulated by any single entity.
When the debt bubble pops, people will be looking into bitcoin as a safe haven to store value.
Ripple Subsidiary Invest In XRPL Labs
Ripple Subsidiary Xpring will now financially support XRPL labs, a dedicated team working full time developing applications for the XRP ledger.
Xpring is a subsidiary of Ripple which primarily invest, incubate, acquire and provide grants to companies and projects run by proven entrepreneurs.
It is lead by Ethan Beard, the SVP at Ripple and Former Director of the Facebook Developer Network.
This was announced via a Medium Post by Vanesa Pestritto of Xpring.
According to Venessa, the creative approach, leadership and ability to engage developers of XRPL Labs were the main reason why her company chose to support the project.
Some of the projects that XRPL labs are working on include a DEX UI where a user can trade XRP with IOUs or vice versa, a 100% air-gapped cold storage OS and a singing platform that enables users to interact with the XRP ledger straight form their Android and iOS smartphones.
U.K.Based Company Launches Institute Of Decentralized Economics
A new institute has been launched in the United Kingdom dedicated to the study of blockchain-based economic systems and their impact on existing institutions.
The initiative is named as the Institute of Decentralized Economics (IDE) and is headquartered in London.
The new institution is backed by Sweetbridge, a fintech company.
According to its press release, the main aim of IDE is to help organization better understand the economics that underlie the blockchain industry.
It will study stablecoins, its design and viability and the interaction of regulations and crypto-economics.
Sweetbridge will facilitate research of the said institute and will help attract blockchain-related participants into the initiative.
Participants will come from a variety of backgrounds and expertise.
These include entrepreneurs, corporations and governments.
The activities of the IDE will be set by the IDE Foundation Council.
U.K. is not the only country that is interested with blockchain technology.
In China a major research university launched a blockchain research scholarship with the support of Ripple.
In the U.S., the New York city Economic Development Corporation (NYCEDC) announced the creation of the Blockchain Center in Manhattan that aims to educate the general public as well as developers for the emerging technology.
Autonomous Region Of Aragon Interested In Developing Industry 4.0
The Spanish autonomous region of Aragon has allocated over 12 million Euros ($13 Million USD) in an effort to develop Industry 4.0.
These technologies include blockchain technology, Artificial intelligence (AI) and other new technologies.
According to the report this was twice as much the amount planned for the program and it has received additional funding from the European Regional Development Fund (ERDF).
The donation will be used for the development of industrial property, commencing consulting projects and for the preparation of the projects.
It aims to promote and educate participants with emerging technologies that is seen to be the main driving force of the next industrial revolution.
The program will gather representatives from various industrial sectors to help find solutions needed to solve specific industrial needs.
The program is designed to help small and medium enterprises (SMEs) incorporate digitization processes into their processes and products that will help them operate more efficiently and cost effectively.
Voyager Now Publicly Traded In Canadian Stock Exchange
This was made possible through a reverse merger that was valued at about $60 million.
The former Uber chief technical officer, Oscar Salazar, acquired UC Resources Ltd., a publicly-traded mineral exploration company.
UC resources and Voyager have now jointly established a new business entity, Voyager Digital (Canada) Ltd.
The business entity is now listed on the TSX Ventures Exchange under the ticker VYGR.V.
Stephen Ehilich the CEO of Voyager said that by going public, it enables traditional investing community to tap the public markets for exposure to new innovative financial technology.
Ehrlic also stated that this new arrangement will help more people become comfortable with the crypto market and ultimately increase widespread adoption.
Headlines for the world of Cryptocurrencies - February 14, 2019Coinbase Offers Cloud Back Up For Private Keys / Nasdaq To Start BTC And ETH Indices / California Governor Bullish On Blockchain / Institutional Money Coming In the Next 6-12 Months / Financial Historian Believes Bitcoin An Option To Digital Gold |
|---|
Headlines for the world of Cryptocurrencies - February 13, 2019Test Net Release Date For Binance Decentralized Exchange Revealed / Bithumb Crypto Exchange Expanding In UAE / General Motors Subsidiary Joining Blockchain Data Security Project / BitTorrent Token Airdrop Concluded, TRX Price Falls / Wall Street Advisor Bitcoin ETF Is Certain Only A Matter Of Time |
Headlines for the world of Cryptocurrencies - February 12, 2019Free Blockchain Education for Ethereum and Tezos Developers / Blockchain-Powered Cloud Service From IBM Launches In Melbourne / Philippine Bank To Launch Two Way Crypto ATM / SEC Commissioner Calling For Bitcoin ETF Approval / UAE-Based Exchange and Payment Platform Joining The Ripple ‘s Payment Network |
