During the LaBitConf 2020 conference, several experts and analysts from the world of cryptocurrencies have analyzed the development of this industry and its future prospects. These and more news in this practical daily summary so that you are always informed with the most recent events that occur within the crypto world.
📍 LaBitConf 2020 It has been one of the most highly rated virtual conferences held this year, bringing together great personalities from the crypto world. During this conference Vitalik Buterin, co-founder of Ethereum, stated that cryptocurrencies are not only providing economic benefits for society, but it is a technological innovation that is increasingly revolutionizing different aspects of our society, such as governance and politics, contributing true value for building a better future.
“We are providing value to humanity with the things we build in the cryptocurrency environment,” Buterin said.
Buterin's statements were confirmed by the well-known speaker and pro-crypto, Andreas Antonopoulos, who again pointed out that the true purpose of the cryptocurrencies, is the give us the freedom to build a more just and balanced society for all, and that the industry should not focus only on economic profit and investors.
📍 On the other hand, during the same conference the general counsel of the business software firm R3, Jacob Farber, stated that 2020 has been a great year for the development of the crypto industry and the crypto economy, but that the sector must wait Stricter regulations that provide greater clarity to further encourage the adoption of cryptocurrencies at the enterprise level.
According to the expert, institutional investment in digital assets, the adoption of cryptocurrency services, such as trading and custody, by traditional banking and the general incursion of central banks to develop their own digital currencies, known as CBDC, are possible thanks to the advances that exist in terms of regulation towards this industry.
📍 In Latin America, several companies dedicated to offering cryptocurrency trading services point out that Nearly 80% of cryptocurrency and digital asset transactions in this region occur in Bitcoin. Representatives of cryptocurrency payment services Bitrefill, Panda Group, Cryptobuyer, Bitwage y Krypton Basket Market, they estimate that 7 out of 10 transactions carried out with cryptocurrencies in Latin America occur in Bitcoin (BTC).
Likewise, representatives of these services pointed out that other cryptocurrencies most used in this region are Ethereum (ETH), Litecoin (LTC) y dash (DASH), and that second layer networks, such as Lightning Network For Bitcoin, they are gaining popularity due to their potential to offer greater scalability and functionality, although the number of transactions carried out on these networks is still low.
📍 WordPress, one of the largest and most popular digital content management systems in the world, can now incorporate a new plugin, or add-on, that allows users to earn ETH by auctioning off their advertising spaces for the publication of ads. As indicated by the note published by the company, the new supplement EthereumAds will use the Smart contract (smart contract) of the company so that users can monetize their content by simply integrating the widget into their WordPress websites.
The smart contract will carry out the entire auction process for advertising space on websites automatically, renting the space to the “highest bidder” every two weeks, and sending the money directly to the purse from the website owner's Ethereum.
📍 2Gether, the Spanish cryptocurrency company that suffered a hack At the beginning of August this year, it announced its roadmap to compensate affected users for 2021. A few days after the hack, the company announced that it was in discussion with several investors to design a strategy that would allow it to compensate the victims of the hack, where 1,3 million euros were affected. Thus, the agreement reached by the participants in the debate determined that the stolen funds would be compensated with the delivery of the token 2GT from 2Gether, although many affected users disagree with this.
The launch of 2GT was planned for the second quarter of the year, but was rescheduled for mid-January 2021. Its CEO, Ramón Ferraz, indicated that 2GT will be available through two means: an offer of 10 million tokens with a fixed value of 0,05 euros for institutional investors through the Bounce protocol, and open trading for any user through the 2GT/ETH liquidity pool on Uniswap; although the route does not yet clarify how the funds will be returned to users.
📍 The youngest politician in Ukraine, Rostislav Solod, 19 years old, publicly declared that he owns cryptocurrencies, specifically Monero (XMR), worth more than $24 million today. According to its public statementSolod purchased around 185.000 XMR in 2015, when the cryptocurrency was valued at between $0,3 and $0,5 USD, for an investment of around $70.000 or $80.000 USD.
Solod, who was 14 years old at the time, said he was attracted by Monero's privacy feature, so he invested some money his parents had given him and some savings ($70.000 or $80.000 USD). A Chainalysis report points out that this country is one of those with the highest level of cryptocurrency adoption.
📍 At the time of this edition, Bitcoin (BTC) appears to be regaining bullish momentum and is once again positioned near its all-time high of $20.000 USD. The market-leading cryptocurrency has a value of $19.350 USD, with a growth of almost 5% in the last 24 hours, as shown CoinGecko.
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