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ICE Banking On Bitcoin (BTC) and Crypto

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The main operator for up to 23 biggest exchanges around the world, Intercontinental Exchange (ICE), has recently announced a new global digital assets platform centered around Bitcoin (BTC) and crypto.

ICE announces the creation of a new platform

ICE, which is the operator for the New York Stock Exchange, among others, will collaborate with Microsoft to kickstart a new ecosystem for various digital assets. The new ecosystem will be regulated and open, as well as cloud-powered, courtesy of Microsoft. The announcement came on August 3, and it unveiled that the new company’s name is Bakkt.

Bakkt will be working with an entire group of various enterprises like Microsoft, BCG, Starbucks, and others. The goal of the team-up is to make a platform that will allow merchants, consumers, ass well as institutional investors, to work with their favorite digital assets. They will be able to sell them, buy them, and even store them on the project’s global network.

The first use cases will see the conversion and trade of Bitcoin tokens. The platform users will be able to exchange BTC for fiat currencies, and then use those fiat currencies to buy items at Starbucks. The warehousing and markets used by the new ecosystem are to be federally regulated.

Additionally, Bakkt will offer futures exchange within the US, as well as a clearinghouse plan, that will see the launch of BTC contracts that will be physically delivered, which is to be a 1-day event. Introducing the regulated venues like this will lead to the establishment of completely new protocols regarding the management of specific settlement and security requirements for cryptos.

Physical delivery of BTC futures contracts

ICE’s intention is to design Bakkt as a means of support for transaction flows by mobilizing the infrastructure of a trusted market. Bakkt ecosystem investors will have the ability to include Mike Novogratz’ Galaxy Digital, the venture capital arm of Microsoft, Susquehanna International Group, Pantera Capital, and others.

Originally, the reports of ICE’s potential launch of Bitcoin futures contracts that will be physically delivered came in May of this year. CBOE and CME are currently offering similar deals, but theirs are settled in fiat, which is a big difference between what ICE is going to offer.

Back then, analysts commented on this move by saying that a physical delivery might lead to significant price moves within the crypto market, due to a large stream of institutional capital that is expected to come. According to Mike Novogratz’s estimations, this is just what the crypto market needs. He stated earlier that the institutional investors need a trusted name behind a project like this in order to feel comfortable joining in.

He predicted that someone like HSBC, Goldman Sachs, or a big Japanese bank are needed to give their support to such a project. Additionally, he predicted that ICE would also be a valid candidate, and now, it would seem that his prediction may come to pass.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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SonicX and Dash Could Challenge Facebook’s Libra for Global Payments Market Share

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When Satoshi Nakamoto unveiled Bitcoin to the world, the dream was always for Bitcoin to serve as a new universal currency.  It would be free from the bureaucracy of governments.  And free from the tyranny of the old-world financial cartels.  Although the dream hasn’t yet materialized, it comes closer and closer with each passing day.

One of the biggest roadblocks for Bitcoin has been scalability.  At a speed of approximately 7 transactions per second, Bitcoin lags behind other cryptocurrencies like Ripple and global payment processors like Visa.  Many expect the lightning network to have a positive impact on Bitcoin’s TPS but until that comes to fruition, mass adoption will likely need another significant development.

Libra Currency Announcement

One development that could help pave the way toward mass adoption is the launch of the Libra currency.  Libra is expected to go live during the first half of 2020 according to Facebook’s June announcement.  According to Facebook, Libra will make sending money online cheaper and faster.  It will also have a hand in improving access to financial services, especially for the unbanked.  Given Facebook’s global reach, including many third world countries, providing financial access to the unbanked could provide a huge spark to global economies.  Additionally, it could provide the growth spark that cryptocurrency needs.

Facebook’s most popular messenger, WhatsApp, has approximately 1.5 billion monthly users.  This application is…

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Bitcoin

The rise of the crypto casinos

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In the hyper-competitive world of online casinos, operators are always looking for ways to stand out from the crowd. The most usual methods include using distinctive branding, offering generous bonuses and making sure that they are on all of the major so-called affiliate sites where players can compare and contrast casinos’ different offerings.

But now a whole new generation of casinos are starting to emerge – ones whose key difference isn’t what and how you play, but more in how you pay.

The rise and rise of the cryptocurrency casino is seen by many as the next logical step in a world that is slowly but surely starting to accept that Bitcoin, Ethereum, Ripple, et al. are certainly here to stay.

Of course, it’s the first of these cryptocurrencies that has really grabbed the headlines and led the way with its meteoric performance in 2017 when it seemed like its $20,000 value was just the start of the story. Admittedly, this was short-lived and the value quickly fell back to a more sustainable level but, if it achieved one thing, it was to cement this exciting new kind of currency in the consciousness of the general public.

Why Bitcoin and online casinos are the perfect partners

In many ways, it’s the perfect partnership between Bitcoin and online casinos with multiple benefits for both.

The first of…

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