Category: Off The Ledger

Is the U.S. Treasury warming up to Blockchain, Stablecoins for Bank Payments?

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As a result, 2021 is shaping up to be the year we witness governments and financial institutions discard their resistance to changing the status quo and instead commit to the digital evolution of payments.  However, for there to be widespread acceptance of novice currencies, we must overcome the primary hurdle of convincing people that they are more secure than most think. This is where blockchain technology steps in to provide skeptics with more reassurance.  Digital coins have provided investors with opportunities of generating exponential returns as well as alternative investment…

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The Digital Dollar Project: What You Need to Know

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The first nationwide CBDC was issued in the Bahamas late last year: the sand dollar is a digital version of the Bahamanian dollar, the first virtual currency of its kind. However, the Bahamas is by no means a pioneer of the concept. The People’s Bank of China has been exploring the advancement of its own digital currency for almost a decade and is expected to launch its digital yuan in the next two years. The European Central Bank has also been investigating potential avenues for the distribution of a digital…

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Gold 2.0: Is Bitcoin The Modern Precious Metal?

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Gold has served as money for thousands of years, but in the relatively young history of the modern financial system, it has assumed the role of a strategic asset that investors can turn to in times of crisis. Its allure is mostly rooted in its stability, mainly as it functions as a hedge against rising inflation and economic instability.  However, as of late, cryptocurrencies like Bitcoin seem to be filling a similar role. Investors have cited Bitcoin’s decentralized quality as a positive model to protect against the challenging nature of…

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How and Why the Ecommerce World is Embracing Crypto Payments

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The current scenario of Ecommerce and crypto payments Statista data predicted that 72% of Ecommerce sales will take place on a mobile device by 2021, which highlights the importance of a better global payment mechanism. Another report stated that there has been a 700% surge in the number of businesses accepting bitcoin payments since 2013. Foresight Business predicts the North American virtual currency market alone will reach $1.8 billion by 2027 from $250 million in 2019. Why Ecommerce has embraced crypto payments The Ecommerce industry was quick to identify the…

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What You Should Know About Ethereum 2.0

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However, for the Ethereum blockchain to be successful globally, it needs to coordinate with the transaction throughput (the number of transactions per second) of many incorporated frameworks that it is required to support.  As it currently stands, Ethereum may be a great solution, but it is far from being perfect. The Need for an Ethereum Upgrade One can say that the growing popularity of Ethereum resulted in the dominance of this public blockchain in the world of Decentralised Finance (DeFi). With a widely adopted native currency and its easy-to-develop smart…

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2020 Wrapped: Crypto Edition

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2020 brought progress and innovation that might have remained dormant without any real sense of urgency to inspire action. Society became increasingly digital, as we worked, shopped, and lived through the web. In particular, the world of blockchain experienced a revival of interest, with cryptocurrencies like Bitcoin reaching record-high prices. Gone are the days where cryptocurrencies are regarded as momentary fads or bubbles. The pandemic stepped on the gas of the cryptocurrency revolution, making the world much more prepared for a blockchain-based financial system in 2021. In this blog, we’re…

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How Small Businesses Can Thrive with Crypto Payments

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“From what was once a small afterthought for retailers to the predominant method of consumption, e-commerce has grown into a multi trillion-dollar market that’s slated to keep growing,” according to a recent infographic from eToro.  The infographic went on to attribute the COVID-19 pandemic as the “catalyst for explosive growth,” revealing that the e-commerce share of total U.S. retail sales has gone up over 16% in the first quarter of the year. As the sector continues to experience massive growth, it’s important for small- to medium-sized enterprises (SMEs) to capitalize…

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Paying with Cryptocurrencies Is Easier Than You Think

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Blockchain technology stores all the transactions in a ledger, and chains all the previous transactions together using cryptography and hashing, making it easy for people to not only track transactions, but also leverage them and form a more credible, verifiable network.  The fundamental features of blockchain, such as immutability, are helping us escape the expensive, less secure, and slow payment process we’ve grown accustomed to. A better understanding of this new technology and its implications is what has driven more consumers and businesses to opt for cryptocurrencies as a daily…

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Blockchain’s Instrumental Role in the Future of the Gig Economy

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The Freelance Workforce is Growing In the past year alone, 59 million Americans freelanced, according to Upwork’s Freelance Forward 2020 report. This figure represents 36% of the entire U.S. workforce, a segment that generates over $1.2 trillion in annual earnings through gig work.  Now, the emerging demographic of Gen Z is being added to the mix, with half of the Gen Z workforce freelancing in the past year. This doesn’t seem to be a momentary trend, with 9 out of 10 Gen Z freelancers stating they plan to continue to…

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