#CryptoCorner: Walmart (NYSE: $WMT) Applies for Libra-like Stablecoin Patent, Mastercard (NYSE: $MA) and Nexo Launch #Crypto Credit Card, AWS (NASDAQ: $AMZN) Announces $100K #Blockchain Competition and Brave Launches Twitter Tipping Feature
#CryptoCorner: Walmart (NYSE:
$WMT) Applies
for Libra-like Stablecoin Patent, Mastercard (NYSE:
$MA) and
Nexo Launch #Crypto Credit Card, AWS (NASDAQ: $AMZN) Announces $100K #Blockchain
Competition and Brave Launches Twitter Tipping Feature
Point Roberts WA,
Delta BC, August 2, 2019 - Investorideas.com, a leader in crypto and
blockchain investing news, in partnership with Fit
Pay, Inc.’s (subsidiary of NXT-ID (NASDAQ: NXTD) crypto payment tech, Flip bring you today’s edition of the Crypto Corner
podcast and commentary on what’s driving the cryptocurrency market .
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Read this in full at https://www.investorideas.com/news/2019/crypto-corner/08021WMT-Mastercard-Nexo-AMZN-Brave.asp
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August 2 Crypto
Corner
Stocks discussed:
(NYSE:WMT) (NasdaqGS:FB) (NYSE:MA) (NasdaqGS:AMZN)
Walmart (NYSE:WMT) has applied for a patent with
the U.S. Patent and Trademark Office for a digital currency not wholly unlike
Facebook’s (NasdaqGS:FB) Libra project. The
patent application’s abstract describes the proposed currency as “generating one digital currency
unit by tying the one digital currency unit to a regular currency”, indicating
that the resulting payment form would be a stablecoin. An aim of the currency
will be to give people access to finance if they have limited access to
traditional banking services. An excerpt outlines this point:
Keeping and accessing cash can be expensive for low income
households simply because those customers may live week to week and may have
little cash in their bank accounts--if they have bank accounts. The cost of
having little money is high because of frequent short-term borrowing,
accumulated interest on short-term borrowing that becomes long-term, high bank
fees proportional to wealth, high credit card fees, and high payday loan
interests, all of which can take money away that could be available--and would
be used--to buy necessities. Providing digital currency based on blockchain may
overcome the drawbacks associated with the low-income households.
Cointelegraph reports that
Mastercard (NYSE:MA) and crypto loans
firm Nexo have jointly launched a crypto credit card. Called the Nexo Card,
it’s the first of its kind and allows users to spend without depleting their
crypto funds. Nexo explained:
“When using the Nexo
Card to purchase goods and services, you actually pay using your Nexo flexible
open-ended revolving credit line that is backed with your crypto holdings and
thus not selling any of them, which is giving you the freedom to spend today
and sell your holdings whenever you want in the future to pay back the loan.”
Amazon Web Services (AWS), a subsidiary of Amazon (NasdaqGS:AMZN), has announced a competition to figure out how to
calculate the verifiable delay function (VDF) for $100,000 USD. According to
the announcement, “VDFs are a low-level building block in cryptography”. Tim
Boeckmann, Emerging Technology Startup Business Development at AWS, outlined
some of the impetus for the competition:
“The VDF initiative will help the blockchain community
improve the scalability of public blockchains, without compromising security.
AWS sees this as an important opportunity to bring together builders and
innovators, to collaborate on open source hardware design and democratize
access to the tools needed for adopting blockchain technologies.”
Blockchain-based web browser Brave has launched a feature that
allows users to tips to Twitter users with the former’s native cryptocurrency
Basic Attention Token (BAT). An excerpt from
the announcement reads:
When users visit
Twitter with the Brave desktop browser, and have enabled Brave Rewards, they
will see a new “Tip” button on each tweet. Clicking on this button will allow
the users to send BAT directly to the author of the tweet for an amount of
their choosing. Brave users who have enabled Brave Rewards earn BAT by viewing
privacy-preserving Brave Ads, or can purchase BAT and load them into their
Brave Rewards wallet.
Sam Mowers,
Investorideas
Read other editions of the
Crypto Corner
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