#CryptoCorner Episode 470: Huawei Launching Smartphone with Digital Yuan Wallet, NetCents (CSE: $NC.C) Increasing Credit Facility, and DMG (TSXV: $DMGI.V) Subsidiary Blockseer Launching #Bitcoin Mining Pool

#CryptoCorner Episode 470: Huawei Launching Smartphone with Digital Yuan Wallet, NetCents (CSE: $NC.C) Increasing Credit Facility, and DMG (TSXV: $DMGI.V) Subsidiary Blockseer Launching #Bitcoin Mining Pool

 

Point Roberts, WA, Delta BC October 30, 2020 -  Investorideas.com, a leader in crypto and blockchain investing news brings you today’s edition of the Crypto Corner podcast and commentary on what’s driving cryptocurrency stocks and the crypto market.

 

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https://www.investorideas.com/Audio/Podcasts/2020/103020-CryptoMarket.mp3

 

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Stocks discussed: (CSE:NC) (TSXV:DMGI)

 

Heading into another weekend, and a new month, Bitcoin (BTC) is currently trading for about $13,250, according to data from CoinMarketCap. Though this is a decline from this past week’s peak of around $13,800, which Bitcoin reach on Tuesday, it still represents an increase from one week ago, when it was trading for just below $13,000.

 

Cointelegraph reports that Chinese telecom giant Huawei is launching a new smartphone that will feature “an integrated hardware wallet for China’s central bank digital currency, the digital yuan.” The Mate40 smartphone will also allow for dual offline transactions, wherein users can “transfer funds simply by touching their devices together, even if both are offline.” The Cointelegraph report is derived from an official post from the company on Chinese microblogging website Weibo today. A translated excerpt from that reads:

 

“#HuaweiMate40# series is the first smartphone that supports digital RMB hardware wallet, hardware-level security, controllable anonymity protection, dual offline transactions, bringing a new safe and convenient payment experience.”

 

NetCents Technology Inc. (CSE:NC) has increased its credit facility from $1.4 billion to $2 billion so as to facilitate continued merchant growth, a credit card launch, and white label projects. According to the press release, the increase will also enable the company to “have money in the market over an extended period and be able to profit from arbitrage opportunities,” and allow it “the capacity to eliminate volatility risk for all of its merchants.” Clayton Moore, CEO of NetCents, commented:

 

"We think we are at that inflection point. Bitcoin is coming out of the shadows and moving again into the spotlight, unfortunately many missed the 300% run from the bottom. I do think it is ironic that JP Morgan - whose CEO derided Bitcoin as a fraud in 2017, has published research indicating millennials prefer Bitcoin to Gold as a store of value and inflation hedge 'The older cohorts prefer gold, while the younger cohorts prefer Bitcoin as an 'alternative' currency' they said."

 

Blockseer, a subsidiary of DMG Blockchain Solutions Inc. (TSXV:DMGI), is launching a new North America-based Bitcoin mining pool. The press release defines mining pools as “the software protocols by which all miners connect to the various blockchains.” DMG’s CTO Adrian Glover commented:

 

“I am very proud of the work of our development team over the past year, to build and launch Blockseer’s pool platform. We built the pool on the technology platform that drives our mine management platform, thus creating a unified user experience for our customers, and enabling us to quickly add features to both products. In the near-term future, we will be providing audit ready reports and irrefutable proof of our customers’ mining revenue, directly from our user interface. For DMG, the launch of the pool is only the beginning, our team will continue to work hard on adding all of the revenue, cost tracking and projection information that miners look for. Following the same philosophy which we used in building our mine management platform, we built the pool we wished our vendors had provided for us.”

 

Sam Mowers, Investorideas

 

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