BITCOIN AND CRYPTO
Digital Currency Monetary Authority | June 27, 2022
A framework for expanded usage of cryptocurrencies and digital assets in banking and financial services has been introduced by the Digital Currency Monetary Authority (DCMA).
Since 2013, the executive team of the DCMA has collaborated with governments and central banks on blockchain technology and cryptography related to digital currency. The European Commission, the United Nations, and the World Economic Forum have all highlighted their efforts.
Meeting with the People's Bank of China (PBOC) in 2018 led to the development of the DCMA's goal. A founding member of the DCMA, Darrell Hubbard, accepted an invitation from the PBOC to meet with them in Beijing to talk about the prospects for digital currencies and specifics of their digital yuan initiative.
The guidelines and protocol for Crypto 2.0 were released by Universal Monetary Unit, a DCMA affiliate working with significant central banks. Only governments, regulated institutions, and authorized Fintech companies have access to the framework, which is funded by the Unicoin network.
Globally decentralized network of digital financial services, Unicoin. A Financial Services Provider (FSP) is required to access the Unicoin network, just as an Internet Service Provider (ISP) is required to access the Internet. A store of value cryptocurrency called Unicoin will be managed by central bank members of the DCMA. It is a semi-decentralized network with monetary regulations.
When Unicoin and Yubi, one of DCMA's Fintech digital banking projects, shared the Innovation of the Year Award during Hong Kong Blockchain Week in 2020, it made its debut on the global scene.
CloudWalk | June 28, 2022
CloudWalk, a Brazilian fintech company that offers payment solutions for small and medium-sized businesses, has reached a new milestone: it will launch its own blockchain, a ledger that records cryptocurrency transactions and operations. This announcement comes just seven months after CloudWalk announced it had raised US$150 million in a new investment round and had reached a market valuation of US$2.15 billion.
To grow the business is the objective, which has already been accomplished. With its own network, it can process 500 transactions per second, which is 70 times more than before it was based on Ethereum and Polygon and other blockchain platforms. The ambitious target for the upcoming months is to process 5,000 transactions per second.
Blockchain makes this speed possible. For instance, it can take up to a day for store owners to collect their money when they use Visa or Master. They can receive the funds in as little as two seconds using blockchain and our currency, The proprietary ecosystem will be responsible for the entire Smart Lending platform, which includes money storage, as well as authorization and settlement of payment transactions. CloudWalk intends to make the financial industry more agile and efficient."
Luis Silva, The CEO and Founder, CloudWalk
BlockSpaces | June 24, 2022
On June 23rd, Cogent Bank, a full-service commercial and retail bank, and BlockSpaces, a B2B integration platform that links business applications to blockchain networks, announced their banking partnership. The news was made at the annual conference of the Florida Bankers Association (FBA), which has been operating since 1888 and is one of Florida's oldest trade organizations.
Cogent Bank's awareness of the blockchain business, which includes a thorough grasp of the dangers, distributed ledger technology, virtual currency, decentralized finance, and the changing regulatory landscape, is what led to the collaboration with BlockSpaces. The partnership enables the business to make use of Cogent's real-time, tokenized payment platform, cutting-edge treasury management tools, and API gateway for data integration because Cogent Bank focuses on delivering flexible, innovative, and forward-thinking services.
As the blockchain industry continues to rapidly develop, it's critical for emerging companies to leverage progressive banking institutions for business operations. Very few providers are up to serving customers with these unique needs. We are thrilled to have found such an innovative partner in Cogent Bank that truly embraces the coming digital transformation."
Rosa Shores, Co-Founder and CEO of BlockSpaces
We couldn't be happier to build our business with such a forward-thinking banking partner. We're having exciting discussions on how to bring digital asset services to more businesses and organizations in the future.”
Gabe Higgins, Co-Founder and Chief Blockchain Officer of BlockSpaces
We know clients like BlockSpaces are in need of instantaneous payments using blockchain technology in today's fast-paced, digital economy. At Cogent Bank we are always looking towards the future of banking, creating innovative solutions to fit the unique needs of our customers."
Chirag Bhavsar, president of Cogent Bank
BlockSpaces has strengthened its partnership with Cogent Bank as they lead the way in enabling functionality for their clients through cutting-edge services, even as the traditional financial services sector experiences upheaval as a result of technological advancements like blockchain, Web 3.0, and decentralized finance (DeFi).