Cash Usage Drops Drastically Worldwide, Bitcoin an Alternative
The global war on cash, initiated by some of the leading economies and governments across the world, is starting to impact financial ecosystems. According to various sources, cash usage in countries including the US, South Korea and Denmark has decreased drastically and is presumed to decline even more in the foreseeable future. As cash continues to....
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This is quite surprising news, considering how several Bitcoin exchanges in the country have shut down in 2015. Consumers in Canada are looking for alternative payment options, as they seem to grow tired of cash payments. Contactless payments are doing quite well so far, and online payments are booming. But what is of real interest is how the usage of Bitcoin has doubled in 2015. Similar to most countries around the world, Canadian consumers are flocking to cashless payment options. That being said, the usage of cash is starting to decline in the country, albeit it is not going at a fast....
ETC Group, an ETF issuer company, released a report last month about the evolution of Bitcoin Cash in the years after the hard fork that created it. While the company acknowledged the asset price is lagging compared to its older sibling, it praised the crypto on other aspects like development and actual usage. Bitcoin Cash has improved regarding these two metrics, likely helped by the inclusion in several important platforms such as Paypal.
Bitcoin Cash Examined by ETC Group
ETC Group, a financial services company based in London, has issued a report on Bitcoin Cash. The report,....
Cannabis-based cryptocurrency Potcoin has earned enough reputation as a cash alternative to medical marijuana businesses and users. However on the trading front, the coin is falling drastically against the USD. At the start of last week, the POT/USD pair was looking fairly optimistic. On Feb 8th, the pair was valued around 0.00121944 and rose comfortably to around 0.00137490 by the end of Feb 11th. A part of this surge was credited to Potcoin investors who jointly sent a letter to the Colorado MED on Feb 7th - a day before the actual uptrend took place. The letter was written in regards to....
Amid India’s sudden currency reforms, cash is facing a global crackdown as governments move to take control over transactions and the paper in the pockets of citizens. While turmoil continues on the Indian subcontinent after Prime Minister Modi withdrew the two largest rupee notes on Nov. 8, elsewhere other countries are following suit - for very different reasons. Less cash ‘good for banks’. Across the Indian ocean, Australian banks are calling for the scrapping of the dollar’s (AUD) highest-denominated cash notes, and even the removal of cash altogether. In a report issued last week,....
The paper also put forward CBDCs as solutions to high transaction fees and the energy use of mining cryptocurrencies like Bitcoin. Cash usage has lost a ton of ground to digital payments as the pandemic has changed the way people transact worldwide. Some experts have recently argued that central bank digital currencies could solve the problem of leaving that payments data in the hands of major tech platforms.In a blog post published Monday morning, Federal Reserve of New York researcher Michael Lee and University of California Santa Barbara economics professor Rod Garratt expounded on a....