New research paper sees Bitcoin as mainstream method of payment within 10 years
Bitcoin and cryptocurrency have received support from researchers at Imperial College London, who say digital currencies are primed for mass adoption.
According to the paper titled “Cryptocurrencies: Overcoming Barriers to Trust and Adoption” Bitcoin and cryptocurrencies will hit the mainstream as a way of paying for goods and services within the next decade.
The three criteria the researchers laid out for adoption as currency are:
Store of value: allowing individuals to make intemporal choices on when to spend their purchasing power
Medium of exchange: facilitating the exchange of goods and services by eliminating the inefficiencies associated with a barter economy
Unit of account: acting as a measure of value in the economic system
According to the paper “meeting the last two criteria will require Bitcoin and other cryptocurrencies to make progress on remaining challenges such as scalability, design and regulation.”
Binance donates $1M worth of crypto to Japan’s flood victims
In response to the weather disaster that severely damaged West Japan just a few hours ago, Changpeng Zhao, the CEO of Binance expressed his sympathy in a Twitter post. The post also declared that his company will make a donation that is equal to the worth of $1 million in the following currencies: BTC, BNB or JPY.
“Our hearts go out to the victims in West Japan. @binance will begin with a $1,000,000 USD equivalent donation in either BNB, BTC, or JPY. We also ask our crypto partners to join us and help our friends in need.”
Kraken Daily Market Report for 08.07.2018
KRAKEN DIGITAL ASSET EXCHANGE
$85.6M traded across all markets today
Crypto, EUR, USD, JPY, CAD, GBP