Drug Dealing, Remittances, Poverty Factor in Bitcoin ATMs Placement in NYC
Bitcoin ATMs are highly concentrated in minority areas within New York City. Some suggest they are targeting minorities involved in the drugs trade. Others argue that minorities sending remittances are the target instead. Drug dealers targeted. Twitter user, Dan Anderson (@droplister), created the census data map to highlight the high concentration of BTMs in minority areas. Cynicists would suggest these target minorities involved in the drugs trade, but statistics don’t support their viewpoint. As a matter of fact, white Americans surpasse African-Americans in drug usage by a very wide....
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Angus Deaton was recently awarded the 2015 Nobel Memorial Prize in Economic Sciences. Deaton is renowned for his analysis of consumption, poverty and welfare. In his work, Deaton asserts that foreign aid from donor countries is a waste because it does not help the developing countries. Instead, he affirms, remittances do help. Specifically, Deaton....
The global remittances industry is now worth over $500bn a year and, for bitcoin advocates, it represents unimpeachable proof of the need for decentralized digital currency. With high fees on international money transfers and few players in the market, the space is, to use the cliché, ripe for disruption. Enter BitPesa, a bitcoin remittances company that integrates with Kenya's mobile money system M-Pesa. Its success in challenging giants like Western Union in the Kenyan market will signal whether or not bitcoin can compete in the remittances market globally. Social business. BitPesa CEO....
Convicted dark web vendor Chrissano Leslie, 26, was sentenced last Tuesday and will likely be deported after his release. His defense framed him not as a big drug trafficker, but a street-level dealer who just so happened to sell heroin, fentanyl and other drugs thanks to the dark web. Prosecutors portrayed Leslie as standing on a high tech street corner on a sophisticated online marketplace they called “an anonymous eBay” for criminals. Senior U.S. District Judge Daniel T.K. Hurley said he was concerned with a recent spike in heroin and fentanyl abuse. “People are overdosing and dying,”....
Bitfarms announced the placement Sunday.
The uncertainty that prevails in Nigeria’s foreign exchange market is partly to blame for the plunge in cross-border remittances into the country, an official with the International Monetary Fund (IMF) has said. Covid-19 Another Contributing Factor According to a report by local news outlet Punch, the official, Abebe Selassie, said this in response to a question posed to him during a virtual press briefing. However, in his two-part response to the question, Selassie starts by acknowledging the impact the global Covid-19 pandemic has had on cross-border remittances in general. He....