Coinbase To Acquire Institutional Crypto Brokerage Tagomi

Coinbase To Acquire Institutional Crypto Brokerage Tagomi

By RTTNews Staff Writer | Published: 5/27/2020 11:37 AM ET

US-based cryptocurrency exchange Coinbase agreed to acquire New York-based institutional-grade crypto prime brokerage Tagomi as part of its strong institutional focus to cater to the ever increasing number of institutional investors venturing into cryptocurrencies such as Bitcoin.

The proposed acquisition comes at a time when the world’s most recognized hedge fund and macro investors are entering the crypto space and searching for the right infrastructure. This has driven tremendous growth in Coinbase Custody offering and increased volumes on Coinbase trading platforms.

The acquisition will bolster Coinbase’s offerings for advanced traders and the most sophisticated crypto investors.

Coinbase has already been rolling out offerings for these institutional clients, with the addition of advanced features such as margin trading for institutional investors and new tools to help investors segregate their trading strategies.

The crypto exchange said it has also recently expanded Coverage for larger clients by adding Brett Tejpaul as Head of Institutional Coverage to its leadership team.

According to Coinbase, the addition of Tagomi will round out its product suite for the fast-growing institutional trading market. It will enable integrated offerings such as custody, professional trading features, and prime brokerage services on one platform.

This will give the sophisticated institutional investors a seamless, powerful trading experience they have come to expect in equities and FX markets.

Since its launch in late 2018, Peter Thiel-backed Tagomi has become the platform of choice for many advanced traders, hedge funds, and family offices, including well-known names such as Paradigm, Pantera, Bitwise, Multicoin, and many more.

The company has also built out an executive team with a rare blend of traditional financial services and crypto experience, with the team bringing in experience from leading firms such as Goldman Sachs, Citadel, KCG, Tower Research, and USV.

The acquisition is subject to customary closing conditions, including regulatory approvals, and is expected to close later this year.

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Blockchain Healthcare Startup SolveCare Launches Global Telehealth Exchange

Blockchain Healthcare Startup Solve.Care Launches Global Telehealth Exchange

By RTTNews Staff Writer | Published: 5/26/2020 11:07 AM ET

Blockchain healthcare startup Solve.Care has rolled out a bockchain-powered platform that will redefine the current healthcare system amid the COVID-19 outbreak whereby patients are reluctant to visit their doctors due to the pandemic.

Solve.Care's Global Telehealth Exchange (GTHE) will provide a solution with the world's first Global Health Exchange built on Blockchain. It will help connect every doctor to any patient, who can find, verify, book and see the doctor of their choice online.

GTHE will provide physicians who wish to practice telemedicine the opportunity to be listed on the global blockchain registry. Once listed, they can publish their profiles, rates, availability and readily accept appointments.

Upon patients' consent, doctors can immediately review their medical records, eliminating the time-wasted conducting repeat assessments and unnecessary medical tests. Users of GTHE can rest assured that their records are secure and tamper-proof as all records and transactions are stored on blockchain.

GTHE can be accessed through the Care.Wallet, Solve.Care's personalized healthcare management system, and will be commercially available for users in select markets in the second half of the year. All transactions on GTHE will use SOLVE, the company's native digital token, making foreign currency exchange rates and bank commissions redundant.

The GTHE care network breaks down the physical or geographical barriers between doctors and patients. Users will be able to consult medical practitioners anywhere in the world through their computers or personal devices.

According to the National Center for Health Statistics, 883.7 million patients visited a doctor in one year in the U.S. Millions of doctors worldwide need a new way to connect with patients as COVID-19 has reportedly cut patient-doctor visits by about 70 percent.

The move towards a decentralized healthcare system has accelerated dramatically due to the Covid-19 outbreak. Access to quality healthcare should not be restricted by barriers such as geography, systemic inefficiencies and administrative bureaucracy.

The deployment of blockchain and digital currency addresses many of the challenges that the global healthcare system is facing today. Medical practitioners who are not primarily involved in treating Covid-19 cases have experienced a significant drop in patient appointments.

The Solve.Care platform uses blockchain technology as the underlying distributed ledger for coordinating care, benefits and payments between patient, doctor, pharmacy, laboratory, employer, insurer, and all other parties.

Employers can use the platform to administer benefits, reduce costs, and reward their employees. Physicians and hospitals can issue prescriptions, manage appointments, and coordinate with a specialist.

The Solve.Care's platform is already adopted by commercial insurance companies, accountable care organizations, and the US federal government agencies, through HMS.

Last year, Solve.Care also partnered with ride-hailing company's Lyft and Uber to transform medical transportation by improving access to medical care. It will provide reliable, accessible and affordable rides to patients and caregivers.

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Why The Post-Halving Miner Capitulation That’s Underway May Ignite A Meteoric Bitcoin Rally

Why The Post-Halving Miner Capitulation That’s Underway May Ignite A Meteoric Bitcoin Rally

By Brenda Ngari – May 26, 2020

Bitcoin miners have been on a wild roller-coaster ride in the past few weeks. After the halving on May 11, the rewards they receive were slashed by half from 12.5 BTC per block to 6.25 BTC. As a result, most of the miners using older model mining machines were forced to shut them down as they were registering meager profits. This resulted in a substantial drop in the hashrate.

With bitcoin recently slipping below crucial $9,000 level, fears of a further dive have been renewed. A possible sell-off might discourage new investors from entering the bitcoin market. However, Charles Edwards, a digital asset manager at Capriole, sees the miner capitulation as an opportune time to buy bitcoin at low prices before the next bull market. 

An ‘Almost Vertical’ Rally Could Spring From Ongoing Miner Capitulation 

According to an indicator known as hash ribbons, miner capitulation has started. As miners capitulate, they sell their bitcoin holdings to cover their expenses and cut their losses. This process adds significant pressure to the bitcoin market.

In a tweet on May 25, Charles Edwards pointed out that the second round of miner capitulation in 2020 is currently underway, indicating that BTC could continue slumping in the near-term.

Edwards had noted earlier that BTC’s third halving that just concluded would be a brutal event for miners. Less than two weeks since the event, bitcoin’s weekly hashrate has dropped by 26%. Notably, a similar pattern was witnessed after the two previous halvings in 2012 and 2016 as miner capitulation began within 21 days of the halving.

The silver lining of the current picture is that miner capitulation is often a “massive bull flag” – a continuation pattern of a bullish trend. In fact, Edwards cites that the rallies that ensued after miner capitulation were “almost vertical”.

Edwards did not explain how high bitcoin could go after a miner capitulation. He had, however, stated in late December last year that bitcoin historically saw an average gain-to-cycle-peak of over 5000%.

Strong Fundamentals Boost Bitcoin’s Bullish Outlook

Charles Edwards further noted that bitcoin’s bullish case is bolstered by the strong fundamentals.

He gave three factors to back his assertion: massive increases in Tether (USDT), funds are hungry for bitcoin as they buy all the newly-minted BTC in 2020, and the overall macro picture against a backdrop of BTC’s halved inflation rate. The latter, in particular, is presumably in regard to the expansive monetary measures undertaken by central banks across the globe as a result of the COVID-19 pandemic.

Edwards observed that the hash ribbon buy signal could be confirmed in less than three weeks. This could very well be the last chance to accumulate BTC before the asset starts soaring into the stratosphere.

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Binance CEO: We Are Still Early in the Bitcoin BTC and Crypto Game

Binance CEO: We Are Still Early in the Bitcoin (BTC) and Crypto Game

CZ believes those getting into crypto investing right now, should not despair for they are still early in the game.

John P. Njui   •   BITCOIN (BTC) NEWS   •   May 24, 2020   •   2 Min read

In summary:

  • The CEO of Binance, Changpeng Zhao, is optimistic that anyone investing in crypto now, is still early in the game.
  • CZ himself got into the game in 2014 after selling his house only for Bitcoin to crash soon after.
  • He did not sell back then and believes a similar strategy can work till 2025.
  • He also advised those who can hold to do so rather than risking their bags trading.

The crypto community is very close despite all the push and pull that anyone might see on crypto twitter. Everyone wants Bitcoin (BTC) and the entire spectrum of digital assets to succeed. It is with this closeness and willingness to share advice that the CEO of Binance, Changpeng Zhao, has offered some words of encouragement to investors and traders getting into Bitcoin and Crypto in 2020.

We are Still Early in the Bitcoin and Crypto Game

In a tweet, CZ explained that he too got into the game at a time like this 5 years ago and he had initially thought he was late into the game. However, five years later, he still believes it is still early and anyone getting into the crypto game now needs not to worry. In another 5 years, the industry would have grown some more. His tweet went on to request anyone who is unsure about their trading abilities, to hold their bags rather than risking it all in the markets.

Everyone I have met that got into, thinks they got in too late, no exceptions, myself included, until 5 years later.

I expect the same will be true in 2025. We are still early in the game.

Not financial advice. And don’t trade if you are not a trader. #hodl.

CZs Journey into Bitcoin and Crypto

CZs tweet can be linked to his own story of how he got into crypto in 2014 when Bitcoin was trading at $600. Mr. Zhao had just sold his house and gone all in. However, a few months later and in 2015, Bitcoin crashed to $200 but he kept holding and is now the CEO of the largest crypto exchange around by trade volume. The following tweet by CZ gives a better perspective of his journey into crypto.

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

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Bitcoin Leaves Banking Stocks In The Dust As IMF Warns Banks Are In For Major Losses

Bitcoin Leaves Banking Stocks In The Dust As IMF Warns Banks Are In For Major Losses

By Edwin Kinoti – May 23, 2020

The financial crisis exposed by the Covid-19 pandemic has worsened financial vulnerabilities across the world. A new report from the IMF has shown three potential weak spots that can amplify the financial conditions, causing more instability or a worsened financial crisis. These are risky segments in global credit markets, emerging markets, and banks.

This situation has led to the demand for cash, triggering selling pressures, and large outflows of mutual funds. For instance, since the pandemic, emerging markets have recorded capital outflows of over $100 billion. In addition, banks have been affected by low-interest rates, which puts a lot of pressure on their profitability.

Such challenges affect financial stability, as banks play a key role in a dynamic economy. When banks cannot generate profits, they are faced with challenge of providing loans and financial services, denying the economy crucial credit.

The pandemic could cause banks to increase fee income to alleviate pressure on profits. Banks that take excessive risks to recoup profit might have bigger losses in the future. Regardless of the steps banks take, the need to strategize to reduce oncoming losses is apparent, as all sectors have been hit by the pandemic.

Bitcoin Soars

Amidst the challenges and losses facing banks and financial institutions, Bitcoin has seen an upward trajectory, outperforming banking stocks, which is predicted to continue in the coming weeks. The world’s turmoil has not had any major negative impact on the price of BTC, or its popularity, as the season has seen major milestones for the cryptocurrency.

One of these is the Bitcoin Halving that had the blockchain community anticipate the exact day and hour, as well as major predictions on price changes made. Through this event, the price was affected positively, with new active addresses as well as an increase in trading volumes.

The looming economic crisis has driven many people to seek other safer investment opportunities that are better than banks at keeping the value of their investments afloat. This has led to more people using Bitcoin as an investment tool and abandoning banks, which are currently begetting pressure.

BTC’s price is up above $9k, which is a first in many months, as it had stabilized at $7k for a while before the coronavirus outbreak. The increased value of BTC indicates that it has not faced the same woes that banks are currently experiencing, and that it might be one of the few markets not negatively affected by the pandemic.

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Master of Puppets: Bitcoin Cuts the Strings

Master of Puppets: Bitcoin Cuts the Strings

The centralized financial system has compromised itself several times during the last two decades alone, and now it’s time for a serious change!

Image courtesy of CoinTelegraph

            MAY 23, 2020

Did you notice the song that Christian Bale’s character was jamming out to in his office when his partner came in to pull the money in The Big Short? Well, it happens to be my favorite metal band of all time: Metallica. And that song is called “Master of Puppets.” It’s almost ironic that as I was writing this article on the real truth behind what’s currently happening with the collapse of our financial and economic markets and calling it “Master of Puppets” — well, this movie scene popped in my mind. 

Yes, The Big Short is about the big 2008 financial crisis caused mainly by none other than the United States Federal Reserve. Spoiler alert! This will be one of the last times you read about any type of “correlation” here in this article.

Master of Puppets is Metallica’s third album, released in 1986, and it is probably the greatest metal album of all time. I still listen to it almost weekly. It’s great for working out or getting pumped up before a business meeting.

Anyways, back to the master. The curtain has been removed and the truth revealed: money is created out of thin air, and the banks and Wall Street are bathing in it.

To be very clear, there was a major and historical financial crisis by orders of magnitude already about to explode, and the COVID-19 pandemic just brought the economy to its knees a tiny bit quicker.

At a crucial intersection of events in time that couldn't have been more bluntly shoved in your face, 16 million people in the U.S. lost their jobs (and it's almost 36.5 million now.) And like a drunk driver recklessly running a red light at an intersection, the Dow Jones Industrial Average had the highest gains since 1938. All while the Fed was printing 4 trillion U.S. dollars out of thin air.

Where's the correlation? Whoever can find it will prove reincarnation exists, as they must be J. P. Morgan himself, reincarnated in the flesh — only 100 years even more crafty and conniving. And the government and the Federal Reserve say Bitcoin (BTC) is backed by thin air?

Our economy and the Federal Reserve is built on sticks (debt), and remember what happened to that little piggy that didn’t use bricks? Let’s hope the strings become severed from the puppet master and like a bungee cord slap back into its face with the inertia and momentum of more than 150 years of control, lies and manipulation.

The amount of truth that’s starting to become available and acknowledged by the general public about our governments and financial institutions is alarming, and hopefully this will be a stepping point into a new paradigm or, what I like to say, a “new world order.”

The Fed and the government’s economic strategy is just putting an already used Band-Aid (quantitative easing and debt monetization) on a gunshot wound. It’s not fixing the real problem. And for obvious reasons.

The U.S. has for years substantially spent trillions of dollars more than it brings in. To date, the debt owed by the federal government is over $25 trillion. Even more unfathomable to see, with some very complicated calculations, is that it’s looking like an estimated, or near, amount of $100 trillion will need to be printed (out of thin air), or what the Fed likes to call "increase the monetary base,” in order to bail out and keep institutions afloat.

This would then create the ripple effect of causing global economies to reach hyperinflation such as has been never seen before. That's called a lose-lose (or no-win) situation caused by none other than our government, the banking system, Wall Street and their combined mismanagement of our economies.

Understanding economics and monetary policies can be complicated for many, even myself, but it’s not complicated enough where I will not speak up and just sit here as the blind sheep being led by the wolf in sheep’s clothing to my bitter end.

To clarify, as it's important: Bitcoin will never be a replacement for a nation’s central bank currency or new digital currency that's in development now. It’s more the digital gold of the 21st century and onward.

But most importantly, and much like the U.S. fighting for its freedom and control from an unfair controlling centralized system such as England, it was the first to step in thousands of years of oppression to launch a revolution.

Like Joan of Arc or Che Guevara, who became martyrs for the better of society, Bitcoin itself has taken the beating from its first inception — including being declared a national security issue — but it was so powerful in igniting a revolution that it withstood all the hardships and persecution that the governments and central banks cast upon it. So, what it serves to be is the Medal of Honor for this new paradigm shift of the people’s money, leading the future of money with a more transparent, fair and peer-to-peer monetary system.

The more we talk about this, the more people may eventually get it — I hope. The general public should really try to understand this. It’s all credits and debts and leveraged positions and margins.

Remember that incredible luncheon scene in The Wolf of Wall Street where Matthew McConaughey’s super Wall Street broker character educates a young and hungry rookie broker, played by Leonardo DiCaprio, breaking down how the real system works? Matthew McConaughey, with a straight face and twist of sarcasm, says, “Fugayzi, fugazi. It's a wazzy, it's a woozy. It's fairy dust. It doesn't exist. It's never landed. It is no matter. It's not on the elemental chart. It’s not f—— real.”

Just so you know: This system doesn’t just apply to brokering trades on the stock market. It applies to all the banking, monetary and financial systems around the world.

Fairy dust old money is just a hierarchically controlled propaganda belief system.

Blockchain-based new money is the P2P, fair and transparent people’s-money.

That's exactly right. Thank you, Martin Scorsese and your screenwriters, for this brilliantly creative scene. Yet it’s fair to say that this part of the scene was definitely outshined by the more memorable “rookie numbers” part.

But as history has continuously proven to us, unfortunately, much of the population takes comfort in the machine (the “master”), no matter the consequences. As some say, “Ignorance is bliss.” 

Maybe they were so caught up in the genius writing and humor from Scorsese and these two brilliant actors that they missed it. I know I almost fell out of my chair laughing.

So, as the banker artistically creates his leveraged position out of thin air, like abstract images flow out of the tip of Dali’s paintbrush — or Scorsese's brain to film — I ask you: Does art imitate life, or does life imitate art?

Finally, the cat is out of the bag, though unfortunately only hindsight is 20/20, and time will tell what changes actually occur after this mess. Hopefully it’s different this time. 

As says the famous "possible quote" of Henry Ford (most people don’t know the real facts behind that quote) that was paraphrased by congressperson Charles Binderup on March 19, 1937, in the House of Representatives:

“It is perhaps well enough that the people of the nation do not know or understand our banking and monetary system, for if they did I believe there would be a revolution before tomorrow morning.”

Want to know how the banking system really works? Here it goes:

You don't deposit cash at a bank. You actually just lend it to the bank, and when you go to draw on that account, you are just creating a transaction inputted on a digital ledger. You are not actually drawing out your original money. The banks then charge you fees to actually lend them money as well in the form of monthly account fees, overdraft fees and all the other small print fees that sneak in.

When the bank deposits money in your account in the form of a credit — for instance, if you buy a house — it's not an actual credit, it's really a debt that it repackages and calls a mortgage by leveraging its position and creating a profit margin for the services of lending you part of your own money back that you originally gave it, as well as all its other customers’ money. There is only one form of real money in this transaction, and that is the money that you originally gave the bank. It’s basically holding a lien over you and on your new house with the money you and its other customers let it borrow, which it turned around and let you borrow again and charged fees on it. All it did was “artistically” create a leveraged position and profit margin by creating a credit and debt out of thin air.

The stark reality is that there really is no money. This centralized system is just conjured up credit, debt and margin entries on a centralized ledger that’s agreed upon (consensus) by a centralized group of participants.

The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

J. D. Salbego is the CEO of Legion Ventures. He is a global leader in blockchain and digital securities with a history of working with industry-leading startups, crypto funds, institutions and governments to drive blockchain innovation, STOs/ICOs, crypto capital markets, international expansion, digital asset fund strategy and go-to-market frameworks. His work has been featured in Forbes, Business Insider and Yahoo. As a market influencer, a speaker, a published author and an internationally recognized subject matter expert, Salbego is frequently invited to speak at leading conferences such as the World Economic Forum, BlockShow and Delta Summit.

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Hayes: PTJ Owning Bitcoin BTC Removes Career Risk from Fund Managers

Hayes: PTJ Owning Bitcoin (BTC) Removes Career Risk from Fund Managers

John P. Njui   •   BITCOIN (BTC) NEWS   •   May 22, 2020   •   2 Min read

Quick take:

  • The Co-Founder and CEO of Bitmex, Arthur Hayes, has just published his most recent crypto digest.
  • In the extensive post, Mr. Hayes explained that Paul Tudor Jones owning Bitcoin will remove career risk from fund managers owning Bitcoin risk.
  • In one swift decision, Paul Tudor Jones normalized fund managers investing in BTC.

Users of the popular derivatives platform of Bitmex regularly receive email digests from the Co-founder and CEO of the exchange, Arthur Hayes. In the most recent edition, Mr. Hayes muses on how the recent move to own Bitcoin by the legendary Paul Tudor Jones, took off a heavy load from the shoulders of fund managers across the globe.

Paul T. Jones Owning Bitcoin Removes Career Risk from Fund Managers

Hayes explained that in one swift move, Mr. Jones’ decision to hedge against inflation using Bitcoin removed career risk from fund managers who are often judged from their past performances trading the markets. The move by Paul T. Jones normalized owning Bitcoin risk by fund or portfolio managers.

Paul Tudor Jones (“PTJ”) is a trader with a capital f*cking T.

His homage to why inflation is coming and Bitcoin is a possible way to outperform inflation in the coming years is very important because it removes career risk from fund managers owning Bitcoin risk.

Fund Managers Try To Think Like Legendary Traders

Arthur Hayes went on to explain the career of an average fund manager using his own example rising up the ranks. Hayes explained that being a fund manager was not as exceptional as many people believed and perhaps the only advantage they have over other graduates, is the school they went to.

Nothing about your career path [as a fund manager] is exceptional in any way.

You aren’t a brain surgeon, any type of engineer, or a well-regarded public servant.

You went to a nice school, got a well-paying job, and survived.

He went on to explain that average money managers spend plenty of time researching prominent fund managers in a bid to better understand their strategies. In the case of Paul Tudor Jones, he has already established himself. Therefore, fund managers willing to own BTC, or a derivative of Bitcoin, can now do so with ease because investors now know it is not an unorthodox investment. Mr. Jones took all the risk by being extraordinary with the decision to own BTC.

As with all walks of life, there are a few truly exceptional money managers.

They first preserve your capital, and second, earn a positive absolute return.

PTJ is one of them.

Average money managers pour over the writings of the gods, and try desperately to think like they do.

But we know in the back of our mind, they are average. They are average and average pays f*cking gloriously. Why would you want to be extraordinary and expose yourself to career risk.

(Feature image courtesy of Unsplash.)

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

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Cryptocom To Expand Visa Card Program To Canada To Expand Visa Card Program To Canada

By RTTNews Staff Writer | Published: 5/22/2020 10:42 AM ET

Payments startup is set to expand its MCO Visa Card program in Canada.

The program was launched in Singapore in October 2018, in the United States in July 2019, and in Europe in April 2020.

Hong Kong-based's MCO Visa card was one of the first on the market when it launched in Singapore, and is now the most widely available card in the world. The card is issued by Wirecard Card Solutions Ltd., pursuant to a license from Visa.

The app acts as a single hub. Customers will be able to manage their card usage, move funds between crypto and fiat, and freeze or unfreeze their card with a single tap.

Once the card is paired with the app, users can securely buy, sell, store, send, and track cryptocurrencies, allowing them to use fiat currency converted from cryptocurrency without currency exchange fees. It also allows them to earn crypto and get an instant loan.

All MCO Visa Card transactions are denominated in fiat currency. All cryptocurrency exchanges to fiat currency take place before users may load their MCO Visa Card for use on the Visa network.

The MCO Visa card is a metal card with no annual fees and the Chain enables users to pay and be paid in any crypto, anywhere, for free.

There are seven card types, differentiated by increasing limits for free ATM withdrawals and extend of crypto cash-backs on usage.

The features offered on various cards are no annual or monthly fees, 100 percent rebate on Spotify, Netflix and Amazon Prime, airport lounge access for select cards, no fee ATM withdrawals, tap-and-pay functionality, and competitive interbank rates.

Earlier this month, the company had announced a new $100 million insurance policy that brings's total crypto insurance to $360 million, providing an additional layer of protection for its over 2 million user base against physical damage or destruction, and third-party theft.

In the U.S., the card supports both crypto and fiat top-ups and is now compatible with Apple and Google Pay. The U.S. card launch was in partnership with the Metropolitan Commercial Bank.

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Jack Dorsey Gives 5M to Support UBI Could Crypto Deliver it?

Jack Dorsey Gives $5M to Support UBI ⁠— Could Crypto Deliver it?

The Twitter CEO announced on May 21 that he would be giving $5 million to Humanity Forward, a UBI-proponent established by Andrew Yang.

Image courtesy of CoinTelegraph

            MAY 22, 2020

Jack Dorsey, CEO of Twitter and mobile-payment platform Square, is donating $5 million to Humanity Forward, a group launched by crypto-friendly former presidential candidate Andrew Yang, as part of both entrepreneurs’ efforts to establish universal basic income (UBI) for Americans.

Dorsey announced the plan on Yang’s podcast, Yang Speaks, on May 21, while discussing the future of technology. Dorsey told Yang that UBI was “long overdue,” saying “the only way that we can change policy is by experimenting and showing case studies of why this works.”

In a statement to Rolling Stone, Yang said Humanity Forward would use Dorsey’s donation to distribute $250 cash grants to thousands of people who have experienced financial hardships during the current crisis facing the United States — losing their jobs, and being unable to pay bills.

Distributing UBI

Though the type of UBI proposed by Yang during his failed presidential run is considered a long-term strategy for all Americans, it resembles the rollout of $1,200 one-time stimulus payments issued by the federal government to assist businesses and individuals affected by the pandemic shutdowns.

For many Americans, the cash was deposited into their bank accounts in April, while others in the U.S. and living abroad saw physical checks arriving in May. Four million people will soon receive prepaid debit cards through the mail.

Yet many issues with current models remain as people report they are unable to confirm the status of their payment on the IRS website, or just haven’t received checks.

Crypto and UBI — a match made in heaven?

Yang has already proven he is a friend to crypto and blockchain in addition to his central UBI platform. Humanity Forward has given away nearly $2 million to help those reeling from COVID-19.

Yet other groups seem to be the ones leading the charge when it comes to a blockchain-based system for UBI to be delivered to every American securely and quickly.

Cointelegraph reported on May 20 that the nonprofit initiative known as GoodDollar launched a digital UBI wallet at the beginning of May to start delivering capital utilizing blockchain technology.

Nonprofit Hedge for Humanity, the team behind the cryptocurrency Manna, is currently working on a UBI test run for which any asset — cash, stocks, bonds or even crypto — could be used to deliver basic income to those in need. The group will start a raffle that will allow people to sign up for the chance to win a one-year UBI paid out monthly as $100 worth of Bitcoin (BTC), Ethereum (ETH) or Dai (DAI).

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Apple Google Release Coronavirus-tracing Smartphone Technology

Apple, Google Release Coronavirus-tracing Smartphone Technology

By RTTNews Staff Writer | Published: 5/21/2020 9:55 AM ET

Apple and Google joined together to release a smartphone technology that will automatically notify users regarding the possible exposure to the coronavirus or Covid-19.

Access to the technology will be granted only to public health authorities, who can incorporate it into their own apps that people install, for contact tracing.

It was on April 10 that both companies announced a joint effort to enable the use of wireless Bluetooth technology to help governments and health agencies reduce the spread of COVID-19 through contact tracing.

The Exposure Notifications technology is now available to public health agencies on both iOS and Android in service of privacy-preserving contact tracing.

Conventional contact tracing is a technique used by public health authorities to measure and slow the spread of infectious diseases, by manually gathering information from infected individuals about the people they've previously been in contact with.

According to the companies, mobile devices can be used to help determine who has been exposed to a person that later reports a positive diagnosis of COVID-19. The new automatic exposure notification system can augment the process of contact tracing with rapid notification and slow the spread of COVID-19.

User privacy and security would be central to the design. User identity will not be shared with other users, Apple and Google as part of this process.

Apple and Google noted that their Exposure Notifications technology will enable apps created by public health agencies to work more accurately, reliably and effectively across both Android phones and iPhones.

The companies said, "Through close cooperation and collaboration with developers, governments, and public health providers, we hope to harness the power of technology to help countries around the world slow the spread of COVID-19 and accelerate the return of everyday life."

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Article written by an RTT News Staff Writer, and posted on the RTT website.

Article reposted on Markethive by Jeffrey Sloe

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