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CABEI Lends assistance to EL Salvador for Bitcoin Adoption

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On Monday, 14th June, the head of the multinational development bank, CABEI (Central American Bank for Economic Integration), announced that the bank would provide technical assistance for the implementation of Bitcoin as legal tender in El Salvador.

In the Monday press conference, The executive President of the Central American Bank For Economic Integration, Dante Mossi, said the development bank is looking forward to collaborating with the finance ministry of EL Salvador for the selection of a technical team to carry out a successful bitcoin implementation process.

Mossi admitted at the Monday press conference that the Government of El Salvador was actively looking for assistance from the financial institution to allow a proper enactment of Bitcoin as a legal tender in the country. 

Mossi seemed pleased while delivering the message to EL Salvador’s government and the President that how proud he feels that the Central American Bank for Economic Integration came out to be the first choice of President Bukele and the Government authorities of El Salvador. Further, Mossi brought up the point that there is no other country in the world that has adopted Bitcoin cryptocurrency as widely as this country has done. He said, protecting public privacy is a big challenge today, and to overcome this, we must choose the most efficient method.

Mossi gave out some details about the formation of the technical advisory team of the bank that would involve CABEI members, the ministry of finance and central bank officials from EL Salvador. 

The development bank also aims at helping in project planning and providing navigation assistance regarding the legal aspects of Bitcoin implementation as the legal currency of El Salvador.

Challenges in Bitcoin Adoption 

Last week, El Salvador turned into the first country to receive Bitcoin as a legal tender after Congress authorized President Nayib Bukele’s recommendation to accept the cryptocurrency.

Early this month, after El Salvador collaborated with digital wallet company “Strike” to foster the country’s advanced financial framework utilizing Bitcoin technology, President Bukele presented the bill to Congress.

After a couple of days, El Salvador’s President Bukele reported that bitcoin mining would be carried out under the nation’s state-run geothermal energy utility by employing power produced from volcanoes. The declaration was made only a few hours later, the Central American country’s CongressCongress cast a ballot to make the crypto a plausible legal tender.

Still, the International Monetary Fund (IMF) cautioned El Salvador about the dangers of utilizing cryptocurrency for everyday exchanges. An IMF group planned to meet with the President of El Salvador as the worldwide association reflected upon another aid package for the country during its recuperation from the Covid-19 pandemic. 

Meanwhile, El Salvador’s President disclosed that he was in touch with the IMF and expressed that he would clarify the operations comprehensively and the situation with the economy regarding how the currency functions as a legal tender in the country.

Conclusion 

President Bukele promises a robust selection of experts from CABEI would be made for effective risk assessment, investment plan, financial education, and regulation. CABEI, on the other hand, seems to be equally invested.

CABEI Lends assistance to EL Salvador for Bitcoin Adoption

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Bitstamp announces US expansion after 570% increase in customers

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One of the oldest exchanges in the crypto space recently announced that it would be ramping up efforts to reach more users in the United States.

In an announcement from Bitstamp today, the crypto exchange said it would be launching a marketing campaign in the U.S. aimed at educating retail investors about crypto following significant growth in the first quarter of 2021. As part of these efforts, Bitstamp said it planned to triple the number of people in its U.S. team and grow its customer support team by 50% in 2021.

Bitstamp CEO Julian Sawyer told Cointelegraph said the firm began to see increased levels of interest from retail investors and U.S. financial institutions in 2020 while claiming other crypto exchanges were “struggling with uptime and customer support.” He said that the firm’s security, transparent fees, and infrastructure would give the exchange an edge against any local competition.

“Crypto is the fastest growing segment of financial services and we intend to be a leader in the most competitive financial market in the world: the U.S,” said Sawyer. “The potential upside for new retail and institutional investors in the U.S. is astronomical.”

Sawyer cited the significant growth the exchange had experienced during the pandemic as an indication Americans may want greater access to digital assets. Bitstamp reported that the assets under management for U.S. users had risen by 281% in Q1 2021, while the number of customers had surged by 570% in the first four months of this year compared to the same period in 2020. In addition, activity for trades and deposits showed a 348% increase monthly in 2021 when compared to the same period in 2020.

The announcement follows Bitstamp changing key positions in its leadership over the last year. A former Gemini executive, Sawyer joined the firm as CEO in October. Most recently, Amazon veteran and former Barclays finance director Stephen Bearpark came on board as Bitstamp’s chief financial officer while Sameer Dubey joined as its chief operating officer.

Bitstamp announces US expansion after 570% increase in customers

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WeWork to Begin Accepting Payments in Cryptocurrencies

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According to the latest announcement, WeWork, the office-sharing giant, will start accepting payments in cryptocurrencies. In collaboration with Coinbase Global Inc and payment app Bitpay, the leading space provider WeWork, will expand its flexibility by employing cryptocurrencies for inbound and outbound transactions.


As per the announcement, WeWork will hold the cryptocurrency on its balance sheet and pay landlords and third-party partners in the form of cryptocurrencies using Coinbase, the largest U.S. cryptocurrency trading platform. Also, WeWork announced that Coinbase would be its first member company to use digital payment as payment for its membership.

WeWork mentioned that it will accept cryptocurrencies such as Bitcoin, Ethereum, USD Coin, Paxos and others as payment for its offerings and memberships.

WeWork is Offering an Innovative Payment Option to its Customers  

As a part of the announcement, WeWork chief executive Sandeep Mathrani mentioned that the company needs to adapt to the needs of its expanding membership in the fintech industry and to service this “new economy.”

BitPay CEO Stephen Pair also mentioned that WeWork is providing a cheaper, more accessible, and innovative payment option compared to those of credit cards and taps a community valued at over $2 trillion. 

WeWork Chairman and Softbank Group International CEO Marcelo Claure believes that WeWork’s announcement to start accepting cryptocurrencies indicates the company’s commitment to innovation and being a globally-focused business. He seems glad regarding the steps that WeWork is taking to recognize the value this technology can provide to its current and future members.

It was recently announced that the shared-office provider WeWork is expected to merge with a SPAC called BowX Acquisition Corp.

WeWork’s move is similar to Elon Musk’s Tesla, where the entrepreneur announced that people can now buy a Tesla with bitcoin, whereas people outside the country can buy a Tesla with bitcoin later in 2021. As cryptocurrencies are becoming increasingly popular as a form of payment, Venmo also announced that customers can now buy, hold and sell cryptocurrency directly within the Venmo app with as little as $1.

To get instant updates about blockchain certifications and become a blockchain expert, check out Blockchain Council. Get the clarity in blockchain technology that you are looking for.

WeWork to Begin Accepting Payments in Cryptocurrencies

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How to write a whitepaper in 6 steps: B2B technology marketing

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Codezeros

All business owners out there focus on turning their new prospects into loyal customers. So, firstly you need to be well-aware of your business, and for that, you need to provide beneficial content like videos, blog posts, and others.

But one form of content that has become popular and achieved a lot of attraction, especially in the B2B technology market, is a Whitepaper. Opt for Ethereum whitepaper solutions for developing a next-generation decentralized platform. Here are the 6 basic steps to write an efficient whitepaper.

How to write a whitepaper

Choose a valuable topic:

Before commencing with your whitepaper, you will need some beforehand planning. Firstly, you will have to brainstorm ideas for topics that you want to cover. You must make sure that your whitepaper addresses a specific topic in your industry that has not yet been addressed in a whitepaper till now.

Also, you can choose a topic that can do a better job of addressing compared to your competitors. To begin with it, you can look at examples from your competitors. After that, try thinking about the problems that take place in your industry regularly.

Focus on the problems of research-industry, associated content like webinars, podcasts, blog posts, and videos. Remember that your content is an authoritative piece, so you need to write about topics on which you have the proper knowledge.

Determine your audience:

Remember that everything you do is to impress your audience. And it is the only way to be successful in this field. You may look at blockchain whitepaper solutions if you want the simplest problem-solving technology. To understand your audience, look for the requirements of your existing and new audience.

Make sure that your whitepaper aligns directly with the needs of your audience. Then, try to figure out who will be the ones reading your whitepaper because it eliminates the overuse of resources and money. And to do so, you need to take a look at your buyer persona. It will help you to decide what are the problems that you will be solving and how you are going to market them to your target audience when the process is complete.

Provide an enticing headline:

The next thing that you need to do is come up with a perfect title or headline for your whitepaper. Your title should speak about the problem that you are going to solve for your readers with the content, or at least the reader must get benefitted.

Include an active headline, and try to include a number into it. For example, you may write “10 methods to expand B2B business” or “Top 15 marketing automation techniques to boost conversions”. In case you want to be a bit more descriptive, you may also add a subtitle.

Consider an executive summary:

You must write an executive summary that will be no more than 200 words, and it must describe what your whitepaper is all about. You can put the executive summary on the landing page where you will be promoting your whitepaper. You can write an executive summary either as a short descriptive paragraph or in a bullet list. You can also include it in the whitepaper itself in the overview section.

Understand that your audience is busy. Thus, the executive summary must be just as much enticing as the headline. And make sure that it convinces your audience readers to download the whitepaper. So, to get professional help in writing an effective executive summary, you can opt for ICO whitepaper writing services.

Outline and write your whitepaper:

Before starting to write, properly outline your whitepaper. It must include an introduction where you will describe the topic, the challenge, an overview that defines the terms that you will use, the body where you will discuss the topic, a conclusion for wrapping up, and a call-to-action that will tell the customer what to do in the next step. Any whitepaper development company will help you to do it correctly.

Now, after all your preparation, start composing it. Make use of promotional language, focus on creating values for your audience, do not make any claims without solid proof of data and statistics, use real-life problems, and use active language throughout. Make sure not to make it boring.

Focus on designing, and write snappy landing page text:

To make your whitepaper pop, you need to focus on designing it well. Insert professional fonts, graphs, charts, and interesting graphics to make it look well presentable. Do not forget to include page numbers and a table of content so that your audience can scan through your whitepaper quickly. After your whitepaper is written and designed, it is time for you to convert it to a PDF and promote it with an enticing landing page.

Gather your customers’ information like their name, job title, and email ID to directly mail them the whitepaper so that they can download it later. Include a picture of the cover of your whitepaper along with the executive summary. Once you have the details of your prospects, you can start moving them through the buyer’s journey.

Conclusion:

So, these were the 6 indispensable steps that you need to opt for while writing a whitepaper. For creating an enticing whitepaper, try to provide as much information as possible. It will ultimately convince your target audience to continue on their buyer’s journey. And, you will be successfully able to convert your new prospects into potenktial customers.

How to write a whitepaper in 6 steps: B2B technology marketing

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UAE minister of economy: Crypto & tokenization “key” to doubling GDP

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At a panel for the World Economic Forum’s Global Technology Governance Summit today, United Arab Emirates minister of economy Abdulla Bin Touq Al Marri said that cryptocurrency and asset tokenization will be key to the country’s plans to double its economy — currently estimated to be the 34th largest in the world — in ten years. 

Al Marri was joined on the panel, titled the “Arrival of the token economy, from art to real estate,” by artist Harry Yeff and WEF executive Sheila Warren. While much of the conversation centered on the current NFT craze, Al Marri’s comments centered largely on forthcoming tokenization use cases and their regulation.

According to Al Marri, the country has ambitions to grow its GDP by 7% yearly, which would put it on track to double the size of its economy by 2030. Tokenization will be a key cog in this effort, as “tokenization compliments information-based economies.”

Perhaps most exciting from an adoption standpoint, the minister said that the country has several ambitious projects underway, including a study underway being conducted along with the WEF on funding small and medium sized enterprises with a government-run token platform, possibly as part of a “regional token exchange” which is “in our agenda,” Al Marri said.

When asked about how the government — which by nature is deeply embedded in a pre-token economy — will interact with these new models and the need to regulate them Al Marri said the goal is to protect investors as well as the larger financial system without stifling innovation.

“We’re a government, we’re good at regulation,” he joked.

He highlighted two pain points in particular: Lack of “harmonized regulation,” and lack of sufficient regulation. He noted that jurisdiction and regional regulations need to work together in order to prevent cloistered bubbles of innovation, and to ensure that new asset models, such as fractionalized ownership, benefit all.

“How can we bring fractionalization to a level where everyone can benefit?” He asked.

He also noted that fractionalized ownership can lead to real world-meets-blockchain bugaboos: if an apartment has fractionalized ownership, who pays the upkeep fees? If there’s a fractionalized painting, what happens when the painting gets stolen?

Ultimately, the country is eager to lead the world in facing these questions head-on.

“We understand the challenges as such, but we are experimenting, and allowing the UAE to be a site of experimentation.” 

UAE minister of economy: Crypto & tokenization “key” to doubling GDP

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China’s digital yuan will offer best privacy protection, says official

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Chinese authorities are willing to ensure maximum user privacy for the country’s central bank digital currency, or CBDC, according to an official at the People’s Bank of China.

Mu Changchun, head of the People’s Bank of China’s digital currency research institute, spoke of China’s digital yuan privacy capabilities at the 2021 China Development Forum on Sunday, local news agency Sina Finance reported.

Mu stated that a completely anonymous CBDC “is not feasible” because a national digital currency must meet requirements related to Anti-Money Laundering, Counter-Terrorist Financing and anti-tax evasion. However, that doesn’t mean that China’s digital yuan lacks user privacy, he assured.

The so-called “controllable anonymity” approach is a key feature of China’s digital yuan, meaning that the government is providing certain tools to ensure maximum user privacy and financial security in conjunction with AML measures, Mu said. He stressed that telecom operators — which are involved in the research and development of the digital yuan — are not allowed to disclose personal data and phone numbers of users to third parties, including the central bank.

Third parties like e-commerce platforms are also not able to access the personal data of digital yuan users, as customer payment information is encrypted in the form of a sub-wallet, Mu explained. Additionally, the digital yuan features a wide number of technical capabilities to ensure privacy, including ID anonymization technology and a personal data protection system and internal control management mechanism in accordance with relevant Chinese laws, the executive noted.

In order to protect “reasonable” anonymity needs, the PBoC is also planning to adopt a CBDC design that enables anonymous digital yuan transactions in small amounts, Mu reportedly claimed. “The digital renminbi adopts a design of small amounts anonymous, keeping large amounts traceable,” he said.

“In short, the protection of user privacy by digital renminbi is the highest among the current payment tools,” Mu concluded.

As previously reported by Cointelegraph, many global jurisdictions like the United States have considered user privacy issues as one of the biggest problems of a CBDC. According to the European Central Bank’s digital euro public consultation, user privacy is the top requested feature for a European CBDC, followed by security and pan-European reach.

China’s digital yuan will offer best privacy protection, says official

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