Autor Cointelegraph By Helen Partz

WhatsApp starts testing currency payments with Meta’s Novi wallet

WhatsApp starts testing currency payments with Meta’s Novi wallet

Uverejnil používateľ | dec 9, 2021 |

Despite some senators in the United States opposing Meta launching its digital currency products, the development of the social media giant’s digital wallet, Novi, continues apace. Stephane Kasriel, head of Meta’s cryptocurrency and fintech unit Novi, officially announced on Wednesday that Meta’s messenger subsidiary, WhatsApp, has started testing transactions through Meta’s Novi wallet.According to the executive, the new feature is available for a “limited number of people” in the U.S., allowing users to send and receive money on WhatsApp “instantly and with no fees.”There’s a new way to try the @Novi digital wallet. Starting today, a limited number of people in the US will be able to send and receive money using Novi on @WhatsApp, making sending money to family and friends as easy as sending a message. pic.twitter.com/dGz3lejri7— Stephane Kasriel (@skasriel) December 8, 2021Kasriel noted that Meta has been able to test and learn which features and functionalities are “most important to people” since it introduced the Novi pilot in mid-October. He added that using Novi doesn’t affect the privacy of WhatsApp personal messages and calls, “which are always end-to-end encrypted.”Will Cathcart, head of WhatsApp at Meta, confirmed the news on Twitter, noting some U.S. users can now send and receive money with Novi on WhatsApp. “People use WA to coordinate sending money to loved ones, and now Novi will help them do that securely, instantly and with no fees,” he wrote.Formerly known as Facebook, Meta officially launched a digital currency pilot in collaboration with major crypto exchange Coinbase and stablecoin firm Paxos in October. The pilot initially rolled out in the U.S. and Guatemala, using Pax Dollar (USDP), a dollar-pegged stablecoin issued by blockchain trust company Paxos.Related: Meta’s head of crypto to step down at end of yearA U.S. nonprofit organization, the Open Markets Institute, subsequently sent a letter to multiple regulators, including the U.S. Department of Justice, arguing that Meta may be “in the illegal business of receiving deposits without a bank charter.” The organization specifically pointed out that USDP is one of the smaller stablecoins “with far less liquidity and usage” than the top stablecoins like Tether (USDT) and USD Coin (USDC).“There are several legal and regulatory implications for Facebook’s pilot that warrant particular attention by the agencies,” the Open Markets Institute letter stated.

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Kazakhstan to decide whether to launch CBDC by late 2022

Kazakhstan to decide whether to launch CBDC by late 2022

Uverejnil používateľ | dec 9, 2021 |

Kazakhstan, one of the world’s largest countries in terms of Bitcoin mining hash power, is continuing to explore a potential central bank digital currency (CBDC).The National Bank of Kazakhstan has completed a prototype of a digital tenge platform, governor Erbolat Dossayev announced, according to a report by local news agency Kazinform.The central bank is now preparing to publish preliminary results of digital currency testing and a pilot CBDC project on Wednesday, Dossayev said. He noted that the pilot involved local financial companies and some international partners.Despite actively moving forward with CBDC testing, Kazakhstan is yet to decide on whether to launch a digital representation of the national currency. According to Dossayev, the central bank expects to make such a decision in December 2022.The National Bank of Kazakhstan has been increasingly paying attention to CBDC developments abroad, as multiple countries around the world develop their own digital currencies, the governor added.Related: Bitcoin mining power crunch: Kazakhstan looks toward nuclear solutionKazakhstan opened a public consultation on the potential CBDC in May 2021 after local authorities began considering a national digital currency the previous year.Kazakhstan’s approach to launching a CBDC follows a similar plan by Russia, which is looking to roll out the first pilot tests for a digital ruble in early 2022.

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Indian CoinDCX crypto exchange to go global in 2022, says exec

Indian CoinDCX crypto exchange to go global in 2022, says exec

Uverejnil používateľ | dec 9, 2021 |

Ongoing uncertainty around cryptocurrency regulation in India isn’t stopping domestic crypto companies from launching global offerings.Indian cryptocurrency exchange CoinDCX is preparing to move forward with its global crypto-to-crypto trading platform — dubbed Cosmex — in 2022, according to a senior executive at the company.Ramalingam Subramanian, head of brand, marketing and communications at CoinDCX, told Cointelegraph that CoinDCX has significant ambitions regarding the exchange’s global expansion as its upcoming platform will target a global audience.The firm initially announced the development of Cosmex in February 2021, planning to expand CoinDCX’s footprint to the global markets amid the increasing global demand and acceptance for cryptocurrencies.According to Subramanian, the launch of Cosmex is coming “most likely next year” and will initially launch in Western Europe and Southeast Asia.Cosmex “has nothing to do specifically with what’s happening in India,” Subramanian stressed, adding that the platform rather seeks to respond to the “huge demand” for crypto services outside of India. He added that CoinDCX is not willing to add to speculation around regulatory uncertainty in India by discussing scenarios where Indian regulators take a tougher stance on the industry.Related: India’s crypto unicorn CoinDCX has no immediate plans for IPOSubramanian noted that CoinDCX’s main platform is “focused on India generally” and has restrictions for certain countries.After lifting a major ban on crypto services in 2020, Indian authorities have been reportedly considering other restrictions for the industry. However, experts are confident that the Indian government would most likely choose to regulate rather than ban its growing crypto economy.

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Puerto Rico wants to combat corruption with blockchain technology

Puerto Rico wants to combat corruption with blockchain technology

Uverejnil používateľ | dec 9, 2021 |

Following another corruption scandal, the government of Puerto Rico is reportedly seeking to improve its anti-corruption efforts by adopting blockchain technology.Puerto Rican House Speaker Rafael “Tatito” Hernandez announced that lawmakers will hold meetings with local blockchain enthusiasts this month to discuss the potential adoption of blockchain technology to reduce corruption.The implementation of blockchain and smart contracts could bring more transparency and accountability to the public sector, the official said at a Puerto Rico Blockchain Trade Association conference, Bloomberg reported on Dec. 6.“We have a real credibility problem and this might be part of the solution,” Hernandez said, adding that there is also a broader effort to make Puerto Rico a hub for crypto and blockchain innovation. According to the official, the emerging industry could be a way for the bankrupt commonwealth to revive its economy. “Back in the 60s and 70s we had the niche of manufacturing. […] This is a new niche, a new opportunity to create jobs,” Hernandez said.The speaker’s comments came amid growing corruption concerns in Puerto Rico as a local mayor reportedly pleaded guilty to accepting more than $100,000 of bribes in cash last week.Puerto Rico is not alone in exploring the potential anti-corruption capabilities of technologies like blockchain and digital currency. Last year, the Ministry of Foreign Affairs of Denmark reported on blockchain’s potential to fight administrative and political corruption. The United Nations’ drugs and crime agency also advised Kenya to use blockchain to combat government corruption in November 2020.Related: Gibraltar’s government plans to bridge the gap between public and private sectors with blockchainWhile multiple jurisdictions are looking at cryptocurrencies’ underlying technology as a tool to cut corruption, some governments like Russia prohibit its deputies and officials from holding crypto, citing corruption concerns.One of the world’s most corrupt countries, Russia could in fact use crypto to reduce corruption, according to Maria Agranovskaya, a legal attorney and fintech expert in the Russian State Duma. Agranovskaya told Cointelegraph that cash is way more popular for illegal activity like corruption because it’s more difficult to trace:“If you convey proper KYC and AML at the start, crypto flows can be much more easy to trace, only proper rules of the game should be in place.”

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Dogecoin and Ether rank in top 10 news searches on Google in 2021

Dogecoin and Ether rank in top 10 news searches on Google in 2021

Uverejnil používateľ | dec 8, 2021 |

Major cryptocurrencies Ether (ETH) and Dogecoin (DOGE) made the list of the world’s most searched terms in 2021 on GoogleOn Tuesday, Google released its traditional annual list of the top searches for the year, breaking them down into several categories, including searches, news, people, games, movies and others.According to Google Trends’ “Year in Search 2021,” Dogecoin was the fourth-most popular news search term on Google in 2021, both globally and separately in the United States. News related to the query “Ethereum Price” was ranked 10th.The cryptocurrencies are listed among the top searched news items, including topics like Afghanistan, AMC stock, COVID-19 vaccine, GME stock, stimulus check and others. Not a single cryptocurrency was featured on the list in 2020.It’s worth noting that Bitcoin (BTC), the most-valued cryptocurrency in the market, is not featured in any category of the “Year in Search 2021” either worldwide or in the United States.Top 10 news on Google Trends in 2021. Source: Google TrendsRelated: Survey says crypto popular holiday gift for Americans — NFTs not so muchLaunched in 2013, Dogecoin has emerged as one of the most successful cryptocurrencies in 2021, entering the list of the top 10 largest cryptocurrencies by market capitalization earlier this year. DOGE’s price has skyrocketed this year, thanks in large part to endorsement fromTesla CEO Elon Musk, who started actively promoting DOGE on Twitter in 2020.At the time of writing, DOGE is up nearly 5,100% over the past 365 days, compared to 632% for Ether, according to data from CoinGecko. In contrast, Bitcoin is up around 160% over the past year.

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