Posts in category

Payments


Retail giant Walmart is exploring a way to let households manage their electricity bills using cryptocurrency – a concept it says could potentially lead to increased efficiency and lower prices. According to a patent application filed by Walmart in December 2017 and revealed on Thursday by the U.S. Patent and Trademark Office, the company is …

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The partnership between American Express, Ripple and Santander Bank that began back in November of last year is reaching new heights as the trio continues to advance blockchain solutions to foster secure, high-speed cross-border payments. In a recent job posting on the American Express careers board, a clear reference was made to the partnership as …

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In several countries throughout Africa, citizens are spending an average of 27 cents to top up their mobile airtime, and they’re using a crypto token to do it. That might sound strange to many in the crypto industry, since the vision of today’s blockchains allowing the movement of millions of microtransactions across the globe has …

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Julio Faura is the head of blockchain R&D at Santander. There has been much debate about the potential benefits of blockchain technology to improve the world of payments — particularly international payments. This is a business where many different parties need to reach consensus to route the payments, perform currency conversions, and deploy and manage …

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Payments giant Mastercard is exploring the use of public blockchains in securely verifying payment cards at the point of sale, public documents show. According to a patent application filed with the U.S. Patent and Trademark Office (USPTO) and released on Thursday, Mastercard has come up with a conveyance and retrieval processes to verify users’ payment credentials …

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Ant Financial, the payment affiliate of Chinese internet giant Alibaba, announced on Friday it has raised $14 billion in a Series C round funding, which will be used to further develop new technologies such as blockchain. Founded in 2004 as AliPay and later rebranded to Ant Financial in 2014, the Alibaba affiliate touts the goal …

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Venmo could be the ultimate cryptocurrency experience from a user-experience perspective. Any cryptocurrency that seeks to power the future of global transactions must ensure that it is supported by a payment system that is simple, user-friendly and free — like Venmo. Bitcoin and Venmo In the original Bitcoin white paper, Satoshi Nakamoto describes the network as “a …

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Blockchain technology isn’t a beneficial addition to the payment system in the Netherlands – at least not yet, according to the country’s central bank. In a blog post published Thursday, De Nederlandsche Bank (DNB) came to the conclusion that distributed ledger technology (DLT) is not suitable for its existing financial payment infrastructure due to its insufficient …

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Bank of Thailand (BoT), the country’s central banking authority, is eyeing the adoption of blockchain technology in its interbank clearance and settlement system. According to a speech published on Wednesday, central bank governor Veerathai Santiprabhob indicated at an event in Singapore that developing a wholesale central bank digital currency is currently in the country’s pipeline as …

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Since the turn of the year, the price of bitcoin has been battered with investors left to lick their wounds. Behind the scenes though, the development of Bitcoin has continued to defy market movements with the continuous development of the Lightning Network (LN), which has led to the creation of several bitcoin LN wallets. The …

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Ripple’s former CTO Stefan Thomas is going up against Ethereum with the launch of a new smart contracts platform. Well, “new” isn’t quite right – the platform Thomas released implementations for today is Codius, an open-source project that Ripple released in beta in 2014 but shelved the following year. Now, though, having announced his departure from …

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South Africa’s central bank has announced some pretty astonishing results for a trial of its blockchain-based system for interbank clearance and settlement. According to a statement released Tuesday, the South Africa Reserve Bank (SARB) said it has completed a 14-week “realistic” proof-of-concept that managed to settle the country’s typical 70,000 daily payment transactions within two hours, taking an …

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China Mobile Corporation, one of the three state-owned telecommunications giants in the country, is exploring the use of distributed ledger technology within its core mobile data business. According to patent application filed with China’s State Intellectual Property Office (SIPO) in November 2016 and made public on Tuesday, the company is eyeing the development of a …

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Ripple is continuing to add new clients to its distributed ledger-based payments network, RippleNet. Announced yesterday, two international money transfer companies – Singapore-based InstaReM and Sao Paulo, Brazil-based BeeTech – have partnered to allow customers to benefit from Ripple’s product, which they say offers speed, transparency and lower costs. The collaboration will facilitate blockchain-based payments between …

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Bitcoin payroll and invoicing platform Bitwage, with operations in the U.S and the U.K., has launched two new products: Inwage, an advisory firm that creates and deploys solutions for launching initial coin offerings (ICOs); and Ether Inputs, an invoicing platform that allows ICO companies to pay employees in their preferred currency. “The world of cryptocurrency …

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IBM and Global Citizen are issuing a challenge to the world’s developers: use blockchain to revolutionize how donations are made to humanitarian causes. The tech giant and the anti-poverty campaign movement are partnering on “Challenge Accepted,” inspired by the United Nations’ Envision 2030 initiative, which aims to improve the lives of impoverished and at-risk people. …

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The latest “Project Jasper” blockchain trials have shown that distributed ledgers are effective at automating securities settlements in real-time, according to Bank of Canada and two partners on the project. Announced in October 2017, the latest stage of the research effort moved on from its previous focus on payments to a proof-of-concept for “an integrated securities …

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Distributed ledger startup Ripple published the results of its xRapid pilot programs on Thursday, The report focused on the company’s offering centered around the cryptocurrency XRP, stating that pilot-takers saw significant savings on fees as well as overall transaction times. The company has announced a number of partnerships in recent months with companies piloting xRapid as well …

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South Korean cryptocurrency exchange Coinone is turning to Ripple’s enterprise blockchain network for cross-border payments. Coinone Transfer, a subsidiary of the exchange that focuses on remittances, joined RippleNet on Monday, making it the first exchange in the nation to do so. The exchange will be using xCurrent, Ripple’s enterprise blockchain solution for cross-border payments that enables end-to-end tracking, a press release …

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Arizona’s long-in-the-making cryptocurrency tax payments bill has been further stripped down – so much so that it no longer mentions the technology at all. The final version of Senate Bill 1091 does not mention cryptocurrencies in any way, despite three previous versions of the bill all specifically including cryptocurrencies as a possible payment method, public …

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