Blockchain Payments | Blockchain Technology News

Blockchain Expo: The opportunities of Web3

During a session at this year’s Blockchain Expo, we heard from IDC Research Director Phillip Silitschanu about the opportunities of Web3 and the journey that lies ahead.

Silischanu shared his insights, based on vast experience, on the applicability of blockchain services and the potential of Web3. He discussed the opportunities and challenges presented by these technologies and their impact on various sectors.

Web2 vs Web3

Web2, also known as the social web, marked...

18 May 2023 | Banking

Ripple launches crypto liquidity service for businesses

San Francisco-based fintech firm Ripple has launched a liquidity solution to act as a bridge between crypto and fiat currency for businesses.

The Ripple Liquidity Hub launched 13 April following a successful pilot last year.

“Liquidity Hub is publicly available to provide businesses with a simple, seamless way to manage their modern crypto liquidity needs,” the firm said.

The hub is a stand-alone solution operating separately from Ripple’s cross-border...

14 April 2023 | Blockchain Applications

Listen-to-earn lets you earn Bitcoin for listening to a podcast

Podcast platform Fountain has partnered with app monetisation company ZEBEDEE to bring Bitcoin micropayments to podcast listeners.

The partnership will give both podcast creators and listeners the ability to earn Bitcoin based on the amount of time spent with content.

ZEBEDEE says that listeners will support creators by paying for content by the minute as they listen to it. Listeners themselves will also earn money for their first hour of daily podcast listening and for...

26 January 2023 | Bitcoin

Turkish central bank completes first CBDC trials for digital lira

Turkey’s central bank has completed the first of its trials for the country’s central bank digital currency (CBDC), the Digital Turkish Lira.

The Central Bank of the Republic of Turkey (CBRT) announced on 29 December that it had successfully completed the “first payment transactions” to use the digital lira.

Limited, closed-circuit pilot tests with key stakeholders will continue into the first quarter of 2023, after which the pilot is expected to integrate...

30 December 2022 | CBDC

Visa will ‘actively contribute’ to web3 development

Visa refuses to become a dinosaur and will “actively contribute” to developing the web3 and crypto ecosystem.

Aside from maximalists, few experts believe that crypto poses an existential threat to fiat currencies. Legacy payment processors like Visa and Mastercard have increasingly been joining the web2-era disruptors like PayPal and Square in supporting the web3 and crypto ecosystem.

Greater public adoption of “crypto” will likely come through CBDCs (Central...

20 December 2022 | Altcoins

ZELF launches anonymous Visa debit card with crypto top up

US fintech firm ZELF has launched an anonymous Visa debit card which can be funded through crypto or traditional electronic payments.

To open an account, all users need is a name, email, and phone number before they can use the card at any of Visa’s 80 million payment locations worldwide.

Accounts can be funded through crypto payments, with current support for three tokens (USD Coin, Tether, and Ether). ZELF has said they plan to add support for 20 more popular tokens...

12 December 2022 | Blockchain Applications

Putin argues for blockchain-based international payments system

Russian President Vladimir Putin has criticised the dependency on large banks and third parties in the global financial payments system, calling instead for an independent settlements system using blockchain.

The Russian leader made these attacks during a speaking arrangement at the International AI Journey Conference in Moscow on 24 November

During the event, which was organised by Russia’s largest bank and major government lender Sberbank, Putin...

28 November 2022 | Legislation & Government

CashApp integrates Bitcoin Lightning Network support

CashApp has added support for transaction payments through the Bitcoin Lightning Network.

Developed by Block Inc, CashApp is a mobile payment processing app similar to PayPal.

The new feature allows CashApp users to send and receive Bitcoin through its quicker, more efficient layer-2 protocol. Lightning is particularly well suited for small transactions, with near-instant processing times, compared to the minutes or sometimes hours required by the Bitcoin...

28 October 2022 | Bitcoin

China’s digital yuan breaks £12.4bn in transaction volume

China’s CBDC project - the digital yuan - has seen more than 360 million transactions completed with a total value of 100 billion yuan (£12.4bn).

Although still in its pilot phase, such stats make the digital yuan, or e-CNY, the most widely adopted CBDC in the world.

The latest figures come from an official WeChat post by the Bank of China on October 10. Almost six million merchants are now supporting the digital yuan as legal tender across 15 provinces participating...

13 October 2022 | CBDC

BIS declares cross-national Asian CBDC pilot successful

The Bank for International Settlements (BIS) has declared a multinational central bank digital currency (CBDC) pilot a success.

More than £20.5 million was transacted during the month-long testing phase between commercial and central banks in Hong Kong, Thailand, China, and the United Arab Emirates (UAE).

Initially £11 million worth of value was issued amongst participants, which then facilitated 164 foreign exchange transactions and cross-border payments between the...