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Blockchain Will Revolutionize Agriculture and Food Supply Chain

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Speaking at the launch of Belfrics Kenya’s Bitcoin Exchange on Saturday at the Villa Rosa Kempinski, in Nairobi, Kenya, he explained that even though there has been little talk of blockchain in agriculture, the sector stands to benefits immensely from the technology.

Mr Kimani Mbugua, CEO of Greenspec, a Kenya Agro-Processing company has stated that the blockchain technology has the potential to transform agriculture tremendously.

Speaking at the launch of Belfrics Kenya’s Bitcoin Exchange on Saturday at the Villa Rosa Kempinski, in Nairobi, Kenya, he explained that even though there has been little talk of blockchain in agriculture, the sector stands to benefits immensely from the technology.

Kimani, who is also well known in Kenya for promoting soya and conservation agriculture outlined sectors that can be transformed by the blockchain.

He said:

The blockchain application has huge potential in three key areas of Agriculture which consist of Real Time Management, Supply Chain and Mobile Payment and Financing.

Mr. Kimani Mbugua Speaking At The Launch Of Belfrics Kenya

Food Chain Supply

He elaborated that consumer demand for clean food and radical transparency in the food chain including organic, which many people are moving onto these days, are skyrocketing. However, producers and manufacturers are often struggling to verify the exact accuracy of data from the farm to the table.

He remarked:

But with the blockchain, you’ll be able to know from the label what and how they used to produce the food when you buy it and they can never shortcut you.

He decried the current phenomenon where there are no easier and accurate means to verify the exact origin of commodities by manufacturers and issues like slave labour and pollution.

The agriculture expert holds that irrespective of the shortfall, consumers within rich markets like organic food are increasingly prepared to pay for products that provide such information. He was of the view that today’s solutions that revolve around certification and regulation which add cost are tedious to enforce and confusing to customers.

He added:

The value of the blockchain here is its ability to make the supply chain entirely transparent and rich with the immutable provision of data from farm to the dining table. The blockchain will ensure that participants along the supply chain can’t temper with this information.

Ultimately, Kimani maintains the process provide confidence to manufacturers and consumers where the food comes from and how it is produced. He was therefore upbeat about the role of the blockchain in agriculture.

Belfrics in Africa

Addressing the bitcoin community at the function, Praveen Kumar, CEO of Belfrics Global, revealed that the company will be opening bitcoin exchanges across the African continent in the coming months. According to Praveen, his outfit has been convinced to make that decision as the result of the volumes that came out of the trial test in the Kenyan market.

The company, which is based in Malaysia, but with bitcoin exchanges in India, Singapore and now Kenya will enter the Nigeria, Ghana and Botswana market in the coming months. This is a good omen for adoption in Africa since the so-called dark continent lacks infrastructure like this to enable buying and selling of the cryptocurrency.

The post Blockchain Will Revolutionize Agriculture and Food Supply Chain appeared first on Belfrics India.

Source: https://india.belfrics.com/press-articles/blockchain-will-revolutionize-agriculture-and-food-supply-chain/

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European Union will introduce crypto-asset regulations by 2024 – a report by Saumil Kohli.

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According to the Reuters report, the European Union will introduce new rules within four years to make cross-border payments quicker and cheaper using blockchain and crypto-assets like stablecoins. The European Commission is due to set out its strategy for encouraging greater use of digital finance at a time when 78% of payments in the eurozone are in cash. The commission also wants a rapid shift to “instant” payments, generally as pandemic lockdowns showed the growing role of cashless payments.  

The EU executives will set out new rules for cryptocurrencies. 

The European Union executives will present a draft law to clarify how existing regulations apply to crypto-assets and set out new regimes where there are gaps, the documents said. “By 2024, the EU should put in place a comprehensive framework enabling the uptake of distributed ledger technology (DLT) and crypto-assets in the financial sector,” the documents said. “It should also address the risks associated with these technologies.” Stablecoins came on the policymakers’ agendas last year when Facebook revealed plans for its Libra token. Central banks across countries are now studying whether to launch their own. 

Instant payment systems should become the “new normal” by the end of 2021.

Brussels wants to make it easier to share data within the financial sector to encourage competition and a wider range of services while upholding the principle of “same risk, same rules, same regulation,” the documents say. The bloc should also have rules in place within the next four years to allow new customers to start using financial services quickly once anti-money laundering (AML) and identity checks have been completed, it said. The report further states that the commission will assess the impact of charges levied on consumers for instant payments and make sure that they are no higher than those for regular credit transfers.  

Source: https://coinnounce.com/european-union-will-introduce-crypto-asset-regulations/

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UNI Token Price Stable Above $5.50 As Negative Funding Rates Rise

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The UNI token price remains stable above the $5.50 level after seeing a massive inflow of investments in the past day. The biggest buy-side order outweighed the relative small sell orders from the users that got the 400 tokens after the airdrop as we reported in the altcoin news previously.

The uptrend was further perpetuated by other exchange listings such as Coinbase listing the UNI token, and binance listing the token within a day of the launch. This also gave the retail investors unprecedented access to the token which seems to be helping to offset the instant sell-side pressure which came as a result of the airdrop. It’s also important to note that the funding for the UNI token is giving bulls more fuel to push it higher with the rates sitting at more than $280,000 per year. The huge negative funding rates are also incentivizing traders to open the long positions on the cryptocurrency. The nature of the short positions will reduce the selling pressure that comes from the people that are trading UNI perpetual swaps.

uni token chart
Image Courtesy of DegenSpartan.

At the time of writing, the  UNI token price is sitting at $5.80 which marks a new all-time high for the cryptocurrency that has been climbing slowly higher over the past few days. it’s also important to know that this marks a huge rise from the $1.00 lows that were set shortly after the listing. The lows came above because of the intensity of the initial selling pressure from the users that sold the tokens that were initially airdropped to them.

uniswap
Source: Uniswap

After the launch, the token garnered listing on a few exchanges including Binance, Coinbase, and FTX. This led to a huge inflow of buying pressure from investors and helped fuel the upswing. The cryptocurrency is trading around the all-time high as the bears are having a hard time making an impact. another factor that could influence the uptrend of the token is the massive negative funding rates for the perpetual swaps of the token. One trader also spoke about this explaining that about 0.1% of the users are paying each other to short the token which is making a strong bull case for the asset:

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 “At -0.75% every 8 hours, or -0.0994% every hour, you are being paid 2.2% – 2.4% a day to be long UNI via perps.”

Assuming that this trend will surround the perpetual futures, UNI could rally higher in the upcoming days and weeks.

DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]

Source: https://www.dcforecasts.com/altcoin-news/uni-token-price-stable-above-5-50-as-negative-funding-rates-rise/

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ArbiSmart Users Get What They Wished For, Good ROI and Newly Added USDT Support

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In the crypto space, the term Decentralized Finance (DeFi) has become the buzz word of 2020 as interest continues to pick up in the space. While there are several financial services verticals that falls under the broad DeFi spectrum, the ones that allow investors to earn a steady stream of passive income is something that is sought by many. It is even more exciting if the service does not require them to constantly keep track of such investments for profit optimization.

Such a solution is made possible by proprietary smart AI-based machine learning algorithms implemented by ArbiSmart. The EU based crypto arbitrage platform offers a reliable automated trading platform that allows users to leverage the price difference in crypto assets across leading exchanges to generate profits.

Unlike manual trading, ArbiSmart’s automated solution is capable of placing round-the-clock high-frequency trades across more than 20 leading global exchanges, in real-time. The platform has the potential to generate profits of up to 45% while exposing the users’ funds to minimal risk, close to 0%. In fact, even during the prevalent economic slowdown that is currently affecting global markets, ArbiSmart has managed to consistently maintain good profit margins.

Apart from its ability to generate decent profits on crypto investments, ArbiSmart is a regulated platform licensed by Estonia’s Financial Intelligence Unit to provide cryptocurrency-related financial services. It is also known to maintain high standards when it comes to customer service and security features protecting clients’ personal information and funds. All these factors have contributed to its growing reputation, making it an attractive option for investors.

Customer Satisfaction Always Takes Priority on ArbiSmart

If the platform’s customer service is any indication, one will know that ArbiSmart takes customer satisfaction seriously and is willing to go to great lengths to keep them happy. Users can provide inputs and feedback to the team which will be reviewed and considered for further improvements to the platform. The latest such development to feature on ArbiSmart is the inclusion of support for USDT deposits. Apart from the newly introduced USDT, users can also make deposits with other leading cryptocurrencies, credit and debit cards, and wire transfer.

All it takes to earn passive income is an account and a minimum EUR 500 deposit on ArbiSmart. The Smart Investment Calculator on the platform further assists users in deciding the investment amount that is right for them to enjoy preferred returns. It also provides a smart wallet feature where users can park their crypto assets and earn interest.

Meanwhile, the team at ArbiSmart continues to work on developing new features and services as per their well-planned product roadmap and user requests. Eventually, users can start benefiting from these updates as and when it happens.

Learn more and start investing on ArbiSmart at – https://arbismart.com/

Image by Nattanan Kanchanaprat from Pixabay

Source: https://www.newsbtc.com/2020/09/19/arbismart-users-get-what-they-wished-for-good-roi-and-newly-added-usdt-support/?utm_source=rss&utm_medium=rss&utm_campaign=arbismart-users-get-what-they-wished-for-good-roi-and-newly-added-usdt-support

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