Cryptocurrency Wallet Competition – Which category will be the big winner?

Colleagues, while the primary competition in the crypto universe is which specific currency or currencies (whether Bitcoin, Ethereum, Ripple, Litecoin, etc.) will gain mass adoption, there is no shortage of competition among cryptocurrency wallet categories. Hardware, Software, Paper, Cloud-based and Mobile App based wallets are all vying for market share particularly among individual investors. While each categories has its own advantages and disadvantages, the Cryptocurrency Academy believes that Mobile App-based wallets – with the requisite security and ease of use – hold a competitive edge quite simply due to the ubiquity of smartphone users worldwide. Yes, the Ledger Nano and other hardware-based wallets hold a market share majority today. However, Mobile App-based wallets such as GreenAddress, Airbitz, CoPay, Jaxx, MyCelium and BreadWallet (BRD) are highly likely to gain share based upon their convenience, security and ease of use. One critical issue must first be resolved: The winner will need to be either a multi-currency or universal currency capabilities. What to you predict? Share a comment and subscribe today! Lawrence, Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com)

Will Blockchain-base Immutable Coupons Give MasterCard a Competitive Advantage?

Colleagues, EMV (EuroPay, MasterCard and Visa) is a standard for cards equipped with computer chips and the technology used to authenticate chip-card transactions. Fraud prevention and reduction is critical to maintaining the credibility of these credit cards among consumers and businesses around the globe while also reduce EMV OPEX. MasterCard’s “Method and System for Authentication of Coupons via Blockchain” patent originally filed in  November of 2016 was approved by the UPPTO on May 18, 2018 giving the payments processing company the green light to develop so-called ‘immutable coupons’ using Blockchain technology. This technology will surely help merchants to preserve the integrity of their transactions. It remains to be seen when the new system will be implemented. Nonetheless, the Cryptocurrency Academy predicts that EuroPay, Visa, AMEX will soon follow with related patent requests. Bottom line question: How much value will immutable coupons in fact deliver to MasterCard and its customers? Comment and subscribe today! Lawrence, Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com)

Will cryptocurrencies one day rival the demand for sovereign central bank fiat currencies?

Colleagues, recent remarks by the International Monetary Fund (IMF) raise the specter of cryptocurrencies one day challenging the credibility of sovereign bank fiat currencies. Such prescient statements paint a picture of a brave new world with a dualistic global economy. One component of the global economy will surely continue to be central bank fiat currencies backed in some cases by little more than the stability and reputation of the sovereign governments from which they are issues (e.g. the US dollar which until 1971 was pegged to the value of gold bullion). The purchasing power of fiat currency is pegged to the state’s authority and any damage to that authority leads to a decrease of fiat money’s value and results in inflation. By contrast a global crypto-based economy could emerge with specific currencies backed either by tangible commodities (e.g. gold, silver or crude oil) or even the stability and reputation of the organization that issues the currency (e.g. a cartel such as OPEC, let alone a short list of the world’s most valuable corporations such as Apple, Google or Aramco). We at the Cryptocurrency Academy fully recognize that this scenario looks far into the future and has many – valid or invalid – dependencies. Bottom line: What is the probability of such a dual-currency global economy coming to the fore by 2028? Share your thoughts and subscribe today! Lawrence, Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com)

Will OPEC nations accept Cryptocurrency payments for crude oil?

Colleagues, OPEC was founded in 1960 and as of 2018 has 14 member nations which produce 44% of the world’s crude oil and possess 73$ of the world's "proven" oil reserves.  OPEC members include Iran, Iraq, Kuwait, Saudi Arabia, Venezuela, Indonesia, Libya, United Arab Emirates, Algeria, Nigeria, Ecuador, Gabon, Angola and Equatorial Guinea. Crude oil itself is a quasi-world currency today. We also know that some of these countries – most notably Iran – intend to use cryptocurrencies as a means of bypassing economic trade sanctions. And others such as Saudi Arabia may issue their own state-sponsored crude oil-backed cryptocurrencies. However, a separate question remains: Will there come a time when one or perhaps all of these nations will accept cryptocurrencies as “payment” for their crude oil? We are beginning to see corporate entities such as Amazon seriously exploring the acceptance of cryptocurrencies for their goods and services. Will OPEC follow? Share a comment and subscribe today! Lawrence, Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com)

Does Currencies Direct’s Testing of Ripple’s xRapid platform move the currency into the mainstream?

Colleagues, overshadowed by its most established competitors Bitcoin, Ethereum and LiteCoin, Ripple’s cryptocurrency token is seeking to gain credibility as a top-tier player. Enter UK-based Currencies Direct. Earlier this week the forex brokerage firm reported it successfully completed multiple trans-border transactions using the RippleNet platform. These transactions purported closed within seconds rather than days with an OPEX savings of some 60%-70%. RTGS Blockchain’s real-time gross settlement system lies at the core of Ripple’s XRP platform is being administered by several financial organizations around the world. Two bottom line questions arise: First, will these successful tests help Ripple gain the recognition and adoption is so desperately is seeking? And second, how well do these test bode for international payment processing for cryptocurrencies in general? Share a comment and subscribe today! Lawrence, Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com)

Ushering in the Exahash Era with the SHA-256 Cryptocurrency Mining Algorithm

Colleagues, the Exahash era of SHA-256 mining is rapidly moving into the mainstream … and much sooner than expected. Exascale computing is defined as a system that can process more than one exaflop per second — which is equal to a billion billion calculations per second. The BTC network surpassed 1 exaflop in May 0f 2013, which at the time was up to eight times faster than the combined speed of the top 500 supercomputers in the world. Enter 2018. The BTC hashrate is over 30-35 exahash per second or over 30 billion gigahashes per second, and the BCH network is 3-5 exahash per second or over 5 billion gigahashes per second. Nakamoto consensus is a name for Bitcoin’s decentralized, pseudonymous consensus protocol and is considered as Bitcoin’s core development and innovation. So when will we see the 500 exahash zetahash era? Share a comment and subscribe today! Lawrence, Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com)

Japan’s Mitsubishi Financial Group latest firm to adopt Blockchain

Colleagues, payment speed increase and OPEX reduction once again are the business drivers behind Japan’s largest bank to adopt Blockchain. Sounds familiar. MUFG in partnership with Akamai expect it to process over a million transactions per second with less latencies of less than two seconds per transaction and ultimately with underlying Blockchain architecture that is “expected to be extensible to 10 million transactions per second.” By comparison, when Bitcoin backed by the world’s first Blockchain can process seven transactions per second with latencies exceeding 10 minutes. Read the joint May 21, 2018 announcement by clicking here. This action comes just months after MUFG announces plans to issue its own yen-backed cryptocurrency in January of this year. The Cryptocurrency Academy is not surprised by this move. Moreover, we predict a veritable tsunami of cryptocurrency related Blockchain initiatives from major financial institutions across North America, Asia and Europe in the coming months. So who is next in line? Send us your comments and subscribe today! Lawrence, Cryptocurrency Academy (https://cryptocurrencyacademy.blogspot.com)