🔴Food and Clothing Purchases Are Most Common Use Cases for Cryptocurrencies
🔻The results drawn from a survey illustrates that there is a significant difference between how crypto is actually used and people’s assumption about the purchases made with crypto. According to the results, people spend more crypto on food and clothes purchases rather than on narcotics and illegal drugs.
People who are observing the industry assume that cryptocurrency is chiefly used for drug dealings and stock. 40% of respondents said that cryptocurrency is used to purchase stocks, followed by “illegal items” (30%), electronics (23%), clothing and real estate with 15% each, and food purchases at 14%.
On the other hand, the principal purchase made with cryptocurrency is food at 38%, followed by clothes at 34%, stocks at 29%. Narcotics and weapons scored the lowest with 11% and 15% respectively.
#cryptocurrency
#digitalcurrency
#survey
#purchase
🔻The results drawn from a survey illustrates that there is a significant difference between how crypto is actually used and people’s assumption about the purchases made with crypto. According to the results, people spend more crypto on food and clothes purchases rather than on narcotics and illegal drugs.
People who are observing the industry assume that cryptocurrency is chiefly used for drug dealings and stock. 40% of respondents said that cryptocurrency is used to purchase stocks, followed by “illegal items” (30%), electronics (23%), clothing and real estate with 15% each, and food purchases at 14%.
On the other hand, the principal purchase made with cryptocurrency is food at 38%, followed by clothes at 34%, stocks at 29%. Narcotics and weapons scored the lowest with 11% and 15% respectively.
#cryptocurrency
#digitalcurrency
#survey
#purchase
🔴LG Employs Facial Recognition Biometric Technology to Conduct Payments with Digital Currency
🔻LG Corporation’s IT services subsidiary is using facial recognition biometric technology to conduct payments with digital currency, which is called IT Times.
The aforesaid system enables employees to pay for services and products at the corporate restaurant with a blockchain-based community currency. As non-face-to-face technologies are applied recently, blockchain that increase transaction reliability will be used more widely.
There has been security concerns about the user’s privacy and freedom in blockchain era, some believe that it may pave the road for advent of modern slavery.
#blockchain
#cryptocurrency
#payment
#SouthKorea
#artificialintelligence
#adoption
#LG
#digitalcurrency
#privacy
🔻LG Corporation’s IT services subsidiary is using facial recognition biometric technology to conduct payments with digital currency, which is called IT Times.
The aforesaid system enables employees to pay for services and products at the corporate restaurant with a blockchain-based community currency. As non-face-to-face technologies are applied recently, blockchain that increase transaction reliability will be used more widely.
There has been security concerns about the user’s privacy and freedom in blockchain era, some believe that it may pave the road for advent of modern slavery.
#blockchain
#cryptocurrency
#payment
#SouthKorea
#artificialintelligence
#adoption
#LG
#digitalcurrency
#privacy
🔴China Launches Blockchain-Based Service Network for Commercial Use
🔻On April 25, Chinese government officially announced the public launch of the nationwide Blockchain-based Service Network or BSN for commercial use.
BSN enables blockchain projects to create and run new blockchain applications for a lower cost. Chinese government aims to accelerate the development of smart cities and the digital economy. The developers on BSN created applications to improve public welfare charity, item traceability, and electronic invoices.
China has made great efforts to bring wider blockchain adoption. Moreover, China has been working on its digital central bank currency, noteworthy to mention that Chinese banks were already testing digital yuan.
#blockchain
#digitalyuan
#China
#blockchainadoption
#technology
#commercialblockchain
#digitalcurrency
#government
🔻On April 25, Chinese government officially announced the public launch of the nationwide Blockchain-based Service Network or BSN for commercial use.
BSN enables blockchain projects to create and run new blockchain applications for a lower cost. Chinese government aims to accelerate the development of smart cities and the digital economy. The developers on BSN created applications to improve public welfare charity, item traceability, and electronic invoices.
China has made great efforts to bring wider blockchain adoption. Moreover, China has been working on its digital central bank currency, noteworthy to mention that Chinese banks were already testing digital yuan.
#blockchain
#digitalyuan
#China
#blockchainadoption
#technology
#commercialblockchain
#digitalcurrency
#government
✅Visa Patent Filing Would Allow Banks to Mint Digital Fiat Currencies Using Blockchain
⛓The payments giant, Visa, has filed a patent application for a process for turning physical fiat currency into a newly digitized version. The filing, which was filed with the U.S. Patent and Trademark Office in November says the system would be able to mint digital fiat currency and keep a tally of all issuances on the blockchain. Newly created digital fiat would be the exact equivalent with physical cash.
#visa
#technology
#blockchain
#digitalcurrency
#blockchainnews
#bank
⛓The payments giant, Visa, has filed a patent application for a process for turning physical fiat currency into a newly digitized version. The filing, which was filed with the U.S. Patent and Trademark Office in November says the system would be able to mint digital fiat currency and keep a tally of all issuances on the blockchain. Newly created digital fiat would be the exact equivalent with physical cash.
#visa
#technology
#blockchain
#digitalcurrency
#blockchainnews
#bank