The Economics of Trust: Bob Geldof, Aid and Remittance
Yesterday, the Huffington Post reported on Sir Bob Geldof's recent response to Russell Brand's call for a revolution, in which Geldof claimed "bitcoin is a nice idea but it simply won't work". Geldof's criticism wasn't based on his ignorance of the technology per se, or ignorance of economics in general, as Max Keiser suggested, but rather was an attack on monetary systems generally. According to the Huffington Post he "blamed the failure of capitalism on the banks going 'out of control' and due to human greed, inventing 'completely spurious' financial products". The crowning moment was....
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FastCompany’s report revealed that overseas remittance totaled $429 billion in 2016. Some of the largest Remittance markets include China and the Philippines. Already, bitcoin startups have begun to dominate the remittance markets in the two countries, with the Philippines leading bitcoin remittance innovation. Both domestic and international remittance is a massive market within the Philippines. Companies such as Lhuillier and Palawan operate thousands of branches throughout the country, with deeper market penetration in comparison to international remittance companies such as Western....
In mining we trust. On the side of the US $1 bill it says "In God, we trust". Because money is all about trust. Trust that it's real, trust that it will remain at a similar value for the duration of the transaction at least, trust that the products are represented honestly. In the past trust that the paper was redeemable in gold, and more recently trust that our dollar will be backed by the "full faith and credit of the US Government". And when that trust is lacking society shuts down. To some extent, the crisis of 2008, in the same manner as the one in 1929 was about the lack of trust.....
OVR has decided to upgrade its token economics to make its own tokens more rare and valuable.
Last May, the OVR team burned about 1 million OVR tokens to celebrate the first six months of the project. Now it is announcing an exciting decision to make token burn an integral part of its token economics.
OVR’s token economics plan
On November 1, a full-fledged token burn program was officially kicked off.
The project team has decided to take 50% of the revenue generated from the ongoing sale of OVRLand on a monthly basis and manage it in the following....
Bitwala has announced that the company has successfully raised over 800000 euros in seed funding from the who's who of European industry. Bitwala, the bitcoin-based remittance service located in Netherlands has announced that it has successfully raised investments. Started in 2012, the company has been bootstrapping all this while until the very first fundraising round came along. In the recently concluded seed funding round, the company has raised about 800,000 euros. Bitwala is one of the leading remittance service providers with over 10,000 customers. The announcement about the closure....
International remittance company Rebit just announced via Twitter that it has partnered with Cebuana Lhuillier to offer lower fees and quicker transfer. One of the most alluring aspects of bitcoin and – in particular – the blockchain, is the vast amount of potential applications they offer. From intellectual property to medical records and everything in between, the way we use and interact with the blockchain is likely going to be at the root of global commerce and economics in the near future. There are, however, at the moment, a number of areas in which bitcoin and the blockchain are....