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Samsung Claims that Rumors of a Partnership with CopPay are Fake

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Recent rumors of Samsung offering crypto payments in three of the Baltic countries have been strongly denied by the company.

Samsung isn’t partnering with CopPay after all

Not too long ago, a new rumor appeared online, claiming that the blockchain startup from Lithuania is about to score a large partnership with electronics giant Samsung. The partnership was supposed to allow Samsung’s customers in three Baltic countries to buy electronic devices via cryptocurrencies.

However, as soon as the news of the partnership actually reached Samsung, the company’s spokesperson quickly denied them. The official response of the company is that the rumors are fake and that the partnership negotiations are non-existent.

Originally, the announcement of this partnership came from CopPay’s Medium blog, where the startup published a post with all the mentioned details and more. After Samsung denied the partnership, the post was deleted. However, if the partnership was true, CopPay would have the responsibility to install merchant gateways that would support crypto payments in 31 Samsung stores.

Additionally, the deal, as reported by CopPay, was to support a number of cryptos, including Bitcoin, Litecoin, Nem, Ethereum, Ripple, Steem, and Dash. Though obviously fake when considering Samsung’s reaction to it, the announcement looked completely legitimate when it first appeared. So far, CopPay has not released an explanation as to why they would issue a fake announcement.

Partnership is fake, but not impossible

Such fake announcements are not really unheard of in the crypto industry. In fact, a lot of them have appeared lately, with a supposed deal between BMW and carVertical being one of the most recent ones. Another deal that has had everyone hyped, but turned out to be fake, was the presumed partnership between Microsoft and IOTA, which was debunked by Microsoft soon after.

However, there is no confirmation that Samsung is absolutely against ever approaching cryptocurrencies or blockchain tech. In fact, according to reports from earlier this year, Samsung might already be looking into blockchain tech. If so, it would make perfect sense, since this tech might help with managing the company’s supply chain.

Samsung’s IT and logistics unit, Samsung SDS, has stated that implementing blockchain technology could lead to some significant cost reductions. In act, they predict that shipping and logistics costs might be cut up to 20% if done via blockchain. Because of this, there have also been claims that Samsung Electronics might be looking into adopting blockchain solutions.

Song Kwang-woo, the Blockchain Chief and Vice President of Samsung SDS, has stated that this tech could have a very large impact on the manufacturing industries’ supply chains. According to him, blockchain technology is the perfect base for managing a complete revolutionization of the digital world.

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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

CoinFlip Scores Big with BRD Wallet Partnership

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As the crypto markets move closer to mass adoption, one of the keys for future success will revolve around attracting as many market participants as possible.  While many crypto users are extremely tech oriented, a lot of those on the sidelines are not.  The cause of waiting on the sidelines could be due to a variety of reasons such as fear of the unknown, lack of knowledge, age, or a combination of all of the above.  In order to entice new users to join the crypto revolution, crypto ATMs are rising up across the country.  Of those, the largest and most influential crypto ATM company by a significant margin is CoinFlip.

In early October, CoinFlip announced on its Twitter that it had officially partnered with BRD Wallet to re-introduce their crypto ATM map.  Now, BRD wallet users will be able to locate their nearest CoinFlip ATM and receive a 10% discount for both buys and sells.  BRD brand awareness is growing quickly within the crypto community thanks to its innovative and entrepreneurial spirit.  The team strongly believes in the value of financial freedom and independence, and want to empower people across the world by leveraging the possibilities that Bitcoin and other cryptocurrencies provide.

Cryptocurrencies are already making a huge difference around the world.  Citizens of Venezuela, a country devastated by rampant inflation, have been using several cryptocurrencies…

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Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Altcoins

Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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