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September 21, 2020
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Summary of the week with Coinquista | Blocksats

This is another dose of information that the cryptocurrency industry lived last week:

Cryptocurrencies have accustomed us in the past to causing heart palpitations as a result of their above-average, high volatility. Today, in turn, they seem to be the most monotonous market. This state of affairs should not last forever and it is worth being prepared for what may happen soon. However, is Bitcoin at risk of collapsing from the perspective of the fact that the course has not been able to get beyond the $ 10,000 ceiling several times in the last two months?

The Bank of Japan (BoJ) has announced that it will start experiments using the central bank’s digital currency. Looking at the involvement of the financial staff on the horizon, there is a prospect of catching up in this respect with China, which has already begun testing its own banking currency. In his report, however, BoJ refers to two main technical problems, including the problem of public access and security. The first refers to ensuring accessibility for everyone, including people without smartphone skills. And the second concerns the possibility of dealing with a possible lack of access to the transmission network. The question is whether it will eventually be possible to use Blockchain in this solution or whether it will be only a currency that does not differ much from the digital cash we already know.

DEX (decentralized exchanges) volumes reached 5 times higher levels in the first half of 2020 than in the first half of 2019. Platforms such as Uniswap and Curve were the leaders, which contributed most to the growth of the sector’s volume. The pace of growth has been increased considering the standards on the DeFi market, in which segment many cryptocurrencies have been valued at several hundred percent in the last few months. Customers are beginning to notice the increasing value of decentralized exchanges, however, there are still many imperfections in this market.

Africa is among the continents with the greatest interest in bitcoin. Among the tycoons of the oldest continent, there are successively such countries as: Nigeria, Kenya, South Africa and Ghana, which together have recently transferred the amount of cryptocurrency to over USD 15 million. Analysts mention a number of factors that explain such community interest, including the young population, but also the low rate of territories using traditional banking.

The Japanese cryptocurrency exchange BitFlyer organizes the first virtual shareholders’ meeting, and during the meeting uses a new blockchain voting application. The bVote application is resistant to forgery and tampering, and users must scan an identity card before using it. The platform’s owners ensure after the fact that the whole project went smoothly. Participants already praise the solution claiming that this approach to assemblies enabling voting by remote means is an additional very important convenience. Perhaps this application for Blockchain technology will turn out to be a bull’s-eye in retrospect and we will observe subsequent implementations in this segment.

For more, we invite you to video material and the platform’s social channels Coinquista.com.

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