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BPSAA | Blockchain Privacy, Security & Adoption Alliance

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BPSAA (Blockchain Privacy, Security Adoption Alliance) goes live assembling crypto gurus from multiple projects for the good of cryptomanity. BPSAA aims to bring collaboration through BPSAA verified projects in order to enhance Privacy, Security, Adoption for users in the crypto realm.

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Projects in the Alliance:
Pirate Chain (Most Anonymous Crypto) https://bpsaa.vision/pirate-chain
Turtle Network (Interoperable DEX w/fiat) https://bpsaa.vision/turtlenetwork
Ether-1 (Decentralized Storage) https://bpsaa.vision/ether1
Sentinal (Decentralized VPN) https://bpsaa.vision/sentinel

Source: https://cryptocoremedia.com/bpsaa-blockchain-privacy-security-adoption-alliance/?utm_source=rss&utm_medium=rss&utm_campaign=bpsaa-blockchain-privacy-security-adoption-alliance

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How RUSH is changing cross border payments

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The US dollar is the most common currency used for cross border settlement between various countries and big corporations with the help of the traditional banking system. According to a report by the Balance, 90% of foreign exchanges involve the US dollar. The dominance of the US dollar as a means of global payment has been broken because many cryptocurrencies like Bitcoin are now used for cross border settlements. The solutions offered by other cryptocurrencies still have a lot of challenges like instability, but RUSH is a company that is changing the way cross border payments will be made. 

Become your bank

The main reason why the US dollar dominance for cross border payment is waning is that the US dollar’s power enables the control of all cross border payments by the United States. The problem experienced by centralized authorities is dominance. For example, an amount that should be made between a company in Australia and Slovakia still has to pass through a US bank because the US dollar was used for the transaction. RUSH breaks this dominance with RUSH ERC-20 tokens; RUSH allows hassle-free cross border settlements on the platform; a buyer can meet a seller and settle payments without any central authority. With RUSH, you become your bank.

Payments are fast with low fees compared to the centralized authority. 

Stability is the key.

Many cryptocurrency companies have offered many cross border payment solutions, but one of the major problems encountered is the issue of stability. The prices of cryptocurrencies can change within seconds; a cryptocurrency price can drop by 80% in one hour. There is no company that is willing to take that risk that is why many companies are still using the US dollar for their cross border payments. RUSH provides stability. RUSH tokens are tied to aggregate quarries. Aggregate quarries have real-life uses; it is used in the construction of bridges and railways. RUSH asset-backed tokens ensure that the token is stable, and cross-border transactions can be completed without a drop in the token price. 

The transparency of RUSH assets

Cryptocurrency asset-backed tokens is not a new concept, but there is a way asset-backed tokens have been presented to investors. The tickets are mostly present without the asset backing them. RUSH tokens assets are available for the RUSH token investors to monitor through their dashboard. RUSH quarries are located here. Businesses using RUSH tokens for cross border settlements are not only transferring cryptocurrency, but they are also trading a real-life asset, which makes RUSH tokens more valuable. The company using RUSH tokens for a transaction might decide not to use the value of the assets. They can exchange the tokens for another cryptocurrency through RUSH partner exchanges. The RUSH token is currently available for trading on ProBit exchange.

Images of RUSH quarries

RUSH tokens and fraud detection

One of the most significant characteristics of cross border payment networks is fraud monitoring. A lot of fraudsters use cryptocurrency for cross border transactions. The RUSH team ensures that all transactions are recorded on a public blockchain. Users can report suspicious transactions on the network. The RUSH team will report those transactions to appropriate authorities. 

RUSH tokens security

Security is considered when dealing with cross border transactions. Business owners want to ensure that their funds are safe on the platform and can be transferred easily without any security issues. The RUSH team has hired a team of security experts to ensure that there are no bugs in the codes, and the platform is always secured from hackers.

Conclusion

Cross border payments are moving away from the traditional banking system to the blockchain system. RUSH tokens is a leader in providing cross-border solutions that ensure security, stability, and transparency for cross-border transactions. 

Disclaimer: This is a paid post and should not be considered as news/advice.

Source: https://eng.ambcrypto.com/how-rush-is-changing-cross-border-payments

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PayPal begins acquisition hunt – starting with BitGo

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Just days after making an announcement that made waves in the crypto space, rumours have emerged that PayPal is looking for crypto companies to buy

This week’s headlines have largely been around PayPal and its latest announcement of providing support for crypto. The excitement resulting from the news saw Bitcoin’s price explode to a 15-month high of $13,250.

PayPal is rumoured to be interested in acquiring crypto custodian BitGo. A report emerging from Bloomberg suggests that BitGo is only one of the crypto firms that PayPal is eyeing. According to those familiar with the discussions, the deal is yet to be finalised.

Bloomberg Businessweek’s host Carol Massar yesterday sent a tweet reading,” *PAYPAL SAID TO BE IN TALKS TO BUY CRYPTO FIRMS INCLUDING BITGO.”

The interest particularly in BitGo is not baseless, as PayPal needs a premium custodian service to handle the crypto features it is introducing. What better option is there than BitGo — one of the oldest institution-oriented platforms that provides clients with customised custodial services?

BitGo was established in 2013 and currently serves several companies in the cryptocurrency sector, including Binance and Nexo. BitGo raised $15 million in a funding round in 2018, secured with the support of Galaxy Digital and Goldman Sachs.

Anonymous sources in the Bloomberg report asserted that PayPal and BitGo will likely conclude the deal in a few weeks’ time. There is also a possibility that the deal might not go through if the parties don’t reach an agreement, in which case PayPal will consider other alternatives.

The crypto community has expressed different reactions to the rumours of PayPal’s potential acquisition. Thorchain’s official Twitter account reacted to the subject with concerns on the decentralization of Wrapped Bitcoin, since the majority of Bitcoin held in the protocol is reserved by BitGo.

A tweet from the account read, “There goes WBTC. The majority of wrapped Bitcoin is custodied by BitGo. PayPal is not a good actor in this space. Position accordingly.”

Source: https://coinjournal.net/news/paypal-begins-acquisition-hunt-starting-with-bitgo/

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Fiat Currencies Collapse As Bitcoin Hits New All-Time High In These Seven Countries

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Fiat Currencies Collapse As Bitcoin Hits New All-Time High In These Seven Countries

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Bitcoin’s dominance may have left Altcoins in a pit hole, but Fiat currencies may soon be joining these struggling Altcoins. In another interesting turnout, many countries are witnessing the downfall of their traditional currencies at a large percentage.

In the last 12 hours, Bitcoin has performed tremendously well with a price increase of more than 5% and trifled with the $13,000 price mark. Even as the pressure from the bears continues to intensify, Bitcoin is surprisingly holding up strongly.

As the chart continues to move in an ascending motion for Bitcoin, analysts and investors are of the opinion that the highly awaited Bitcoin bull run has already begun, but it might also be the beginning of many other things for the traditional finance space, where their fiat currencies are moving in a downward motion, while Bitcoin is breaking market records and hitting new highs. 

As compiled by crypto entrepreneur Alistair Milne:

“Countries where Bitcoin has hit a new ATH in their local currency:

Brazil – pop. 209million ,Turkey – pop. 82m, Argentina – pop. 44.5m

Sudan – pop. 41m, Angola – pop. 30m, Venezuela – pop. 29m, Zambia – pop. 17m. Soon: Russia, Colombia

then all other fiat currencies.”

The bull run seems to have already erupted in South America, seeing that three of its countries are already experiencing an ATH. In Brazil, the country with the most population on the list, Bitcoin already broke the 3-day all-time high price mark.

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With Colombia bracing up for its own BTC all-time high, Bitcoin looks prepared to take up space in many other countries. In Africa, Nigerians have had to rely on Bitcoin to fund their most recent protest against police brutality, shortly after traditional bank accounts funding the movements were suspended by the Nigerian government. And while Bitcoin is yet to break out in Nigeria, Zambia, and Sudan being on the list is still a very significant bullish indicator for Africa.

For Fiat currencies, it’s the beginning of a continuous drop in value. Bitcoin is still inversely correlating with the United States Dollar’s currency index (DXY) through the bull run. 

Against some trading partner currencies, the USD is also losing strength. 

Miles Ruttan, the founder of ByTown Capital declared that 

“If the DXY closes below the structure in the 92.5 zone, this would support any inflation assets, like commodities and gold, as well as growth stock.” 

Analysts are now explaining that the United States election will not ease the friction for the USD, as it could produce more volatility for the US. dollar. Bitcoin’s dominance these past few days has led analysts to conclude that its correlation with the traditional market is beginning to take a U-turn.


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The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

Source: https://zycrypto.com/fiat-currencies-collapse-as-bitcoin-hits-new-all-time-high-in-these-seven-countries/

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