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Alipay Exceeds 1Bln Users While Helping Pakistan’s Telenor Microfinance Bank Implement Blockchain Tech

Alipay, an online payment platform based in China, has reached a major milestone after it reported exceeding 1B users globally. Following the acquisition of 1 45% stake in Pakistan’s Telenor Microfinance Bank for $184.5 Million, the company also received approval from the State Bank of Pakistan to utilize blockchain. Speaking about the blockchain implementation initiative, the CEO and Chairman of Alipay’s Ant Financial, Eric Jing, said that: “The new remittance service is one of the examples of how emerging technologies can assist countries to meet their digital and financial inclusion goals. We’re thrilled to be part of Pakistan’s financial inclusion efforts and we’re dedicated to exploring breakthroughs and applying them to benefit more people in more places.” Alipay Collaboration With Smart Payment Companies Since it launched its services to a worldwide audience in 2007 and expanding its mobile services in nine countries, Alipay has realized a significant increase in the number of users on its platform. According to Tribune Express, the 1 million user milestone has been largely influenced by Alipay’s partnerships with various smart payment companies. Alipay’s Ant Financial Services Group noted that it had joined hands with about 10 major companies, including Thailand’s TrueMoney and India’s Paytm. The latest quarterly financial report from Alibaba showed that Alipay’s Chinese users had surpassed 700 million, with 70 percent of them using three or more financial services by Ant Financial
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Pakistan’s First Blockchain-Based Remittance Service Launched Using Alipay’s Technology

A Pakistani financial institution has rolled out a cross-border remittance service based on blockchain technology developed by Alibaba affiliate, Alipay. Telenor Microfinance Bank and Malaysian fintech firm Valyou have partnered to offer the service to that will operate between Malaysia and Pakistan. The service is expected to enhance the efficiency and speed of remittances from The post Pakistan’s First Blockchain-Based Remittance Service Launched Using Alipay’s Technology appeared first on CCN
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Pakistan Taps Blockchain Developed by $150B Alipay, But Forbids Bitcoin

The government of Pakistan is reportedly using a blockchain platform developed by Alibaba’s Alipay. But, cryptocurrencies like Bitcoin remain banned in the country for payments. The initiative of the Financial Action Task Force (FATF) of Pakistan to utilize a blockchain application to combat money laundering demonstrates the typical “blockchain not Bitcoin” narrative pushed by central The post Pakistan Taps Blockchain Developed by $150B Alipay, But Forbids Bitcoin appeared first on CCN
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Alipay Empowers Pakistan’s First Blockchain Remittances

Ant Financial (formerly known as Alipay), the payment affiliate of Chinese e-commerce giant Alibaba, has updated its cross-border remittance processes. On Jan 8, Tariq Bajwa, governor of State Bank of Pakistan announced the launch of the country’s first blockchain-based international remittance project in Islamabad. According to the announcement, the Pakistan-based Telenor Microfinance Bank (TMB), Telenor Group’s Malaysian Fintech subsidiary Valyou, and its Pakistani mobile banking arm Easypaisa have jointly launched real-time money transfers between the two nations based on blockchain technology developed by Alipay. The entire cross-border remittance project only took 168 days to come into service. Since then, Pakistani working in Malaysia can transform their funds to their Easypaisa via Valyou’s remittance service which is much faster and safer. Bajwa indicated that: “The new blockchain remittance service uses new technology to disrupt the existing financial service framework in Pakistan. This puts Pakistan on the map of very few countries in the world that have launched international remittance using blockchain technology.” According to Bajwa, the international remittances of Pakistan stand at around $20 billion per year and Malaysia is one of the main sources of remittances. Most local families rely on remittances from their overseas family members each month to cover their living expenses. Currently, Pakistan receives about $1 billion in home remittances. “Home remittances contributed to over 6 percent in GDP, equivalent to over 50 percent of our trade deficit, 85 percent of exports and over one-third of imports during FY 2017-18.” The technology upgrade of blockchain-based cross-border remittance is expected to alleviate the problems of the long processing time and high transaction cost. It may enable nonstop real-time money transfer while cutting intermediary cost and tracking every fund. As thus, from the perspective of overall macroeconomic stability this blockchain project may improve the lives of millions of Pakistani families. “The new remittance service is one of the examples of how emerging technologies can help countries meet their digital and financial inclusion goals,” said Eric Jing, chairman and CEO of Ant Financial.
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Pakistan’s Telenor Microfinance Bank’s Valyou and Easypaisa Start Blockchain Remittance Service via Alipay

Pakistan based Telenor recently announced they are about to release blockchain-powered cross-border remittance service, powered by Alipay. Telenor Pakistan (Pvt.) Limited is the second largest cellular and digital services provider in Pakistan, owned by Telenor Group, which is an international provider of voice, data, content and mobile communication services in 8 markets worldwide in Scandinavia and Asia. Telenor Microfinance Bank (TMB) offers Easypaisa, Pakistan's first mobile financial services platform launched in 2009, which is also the first and only GSMA Mobile Money Certified service. Easypaisa has since developed into the largest branchless banking service in Pakistan in terms of agent network, active accounts, and transaction value, according to the State Bank of Pakistan. The remittance services will be provided by Telenor’s Easypaisa with a partnership with Valyou which is a FinTech firm that provides solutions to the underbanked communities. The plan was announced at an event in Islamabad which was attended by State Bank of Pakistan Governor Tariq Bajwa. He commented on this by saying: “This puts Pakistan on the map of very few countries in the world that have launched International Remittance using blockchain technology. At around $ 20 billion USD per year, international remittances are important from the perspective of overall macroeconomic stability and their positive spillover in improving lives of millions of families. Home remittnces contributed to over 6% in GDP, equivalent to over 50% of our trade deficit, 85% of exports and over one-third of imports during FY 2017-18.” Eric Jing, chairman and CEO of Ant Financial, said: “The remittance service is one of the examples of how emerging technologies can help countries meet their digital and financial inclusion goals. We’re thrilled to be part of Pakistan’s financial inclusion efforts and we’re dedicated to exploring breakthroughs and applying them to benifit more people in more places.” Recently, Alibaba acquired Daraz.pk from venture capital company Rocket Internet, and is tipped to be expanding its footprint in the country. Its financial muscle and experience will help it against competition that includes the likes of PayPal of 1link, Fonepay, and Avanza Premier Payment Services (APPS) that have also entered the digital payments space with investments to the tune of millions of dollars.
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Grayscale Adds Stellar as Latest Cryptocurrency Investment Trust

Grayscale Adds Stellar as Latest Cryptocurrency Investment Trust Digital currency investment group Grayscale confirmed it had successfully launched its latest fund, dedicated to Stellar’s Lumens (XLM) token, in a tweet Jan. 17. Grayscale, which now operates nine cryptocurrency funds, timed the move to coincide with a change of image for its products, renaming all its […] Cet article Grayscale Adds Stellar as Latest Cryptocurrency Investment Trust est apparu en premier sur Bitcoin Central.
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Researches from MIT, Stanford Set to Replace Bitcoin with Their Groundbreaking Crypto Project

CoinSpeaker Researches from MIT, Stanford Set to Replace Bitcoin with Their Groundbreaking Crypto Project Until now, everybody has been talking about Bitcoin, the most popular and widely used digital currency. However, Bitcoin is unable to process thousands of transactions a second. Researchers from the Massachusetts Institute of Technology (MIT), UC-Berkeley, Stanford University, Carnegie Mellon University, University of Southern California, and the University of Washington have decided to fix such a weakness and develop a crypto asset better than Bitcoin. The researchers are working together as Distributed Technology Research (DTR), a non-profit organization based in Switzerland and backed by hedge fund Pantera Capital. The first initiative of Distributed Technology Research is the Unit-e, a virtual coin that is expected to solve bitcoin’s scalability issues while holding true to a decentralized model and process transactions faster than even Visa or Mastercard. Babak Dastmaltschi, Chairman of the DTR Foundation Council, said: “The blockchain and digital currency markets are at an interesting crossroads, reminiscent of the inflection points reached when industries such as telecom and the internet were coming of age. These are transformative times. We are nearing the point where every person in the world is connected together. Advancements in distributed technologies will enable open networks, avoiding the need for centralized authorities. DTR was formed with the goal of enabling and supporting this revolution, and it is in this vein that we unveil Unit-e.” According to the press release, Unit-e will be able to process 10,000 transactions per second. That’s worlds away from the current average of between 3.3 and 7 transactions per second for Bitcoin and 10 to 30 transactions for Ethereum. Joey Krug, a member of the DTR Foundation Council and Co-Chief Investment Officer at Pantera Capital, believes that a lack of scalability is holding back cryptocurrency mass adoption. He said: “We are on the cusp of something where if this doesn’t scale relatively soon, it may be relegated to ideas that were nice but didn’t work in practice: more like 3D printing than the internet.” The project’s ideology is firmly rooted in transparency, with a belief in open-source, decentralized software developed in the public interest with inclusive decision-making. The core team of the project is based in Berlin. To solve the scalability problem, DTR has decided to develop the Unit-e with parameters very close to Bitcoin’s design, but many things will be improved. Gulia Fanti, DTR lead researcher and Assistant Professor of Electrical and Computer Engineering at Carnegie Mellon University, commented: “In the 10 years since Bitcoin first emerged, blockchains have developed from a novel idea to a field of academic research. Our approach is to first understand fundamental limits on blockchain performance, then to develop solutions that operate as close to these limits as possible, with results that are provable within a rigorous theoretical framework.” The launch of the Unit-e is planned for the second half of 2019. Researches from MIT, Stanford Set to Replace Bitcoin with Their Groundbreaking Crypto Project
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BitPay CEO Says Bitcoin Is Solving Real Problems Around the World

BitPay co-founder and CEO, Stephen Pair, has recently commented that Bitcoin (BTC) is solving several issues around the world. He said that in a press release uploaded a […] The post BitPay CEO Says Bitcoin Is Solving Real Problems Around the World appeared first on UseTheBitcoin.
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Trillion Dollar Market Cap, Ethereum Chain Splits & Stellar Lumens Fund - Crypto News

In this video, Mattie gives you the latest bitcoin and crypto news. He talks about the ethereum chain splitting, BitGo CEO Says Institutional Money in Crypto Can ‘Easily’ Reach Trillions of Dollars, and a new Stellar Lumens fund. This is a daily segment! ----------------------------------------------------------------------------------- CHECK OUT OUR PODCAST: https://bit.ly/2sZCAiF New episode every Monday and Friday! ----------------------------------------------------------------------------------- Check out Altcoin Buzz Ladies! https://www.youtube.com/channel/UCxulvI2C9wUvvDDNS7S35fA/videos ---------------------------------------------------------------------------------- Connect with us on Social Media: Twitter: https://bit.ly/2GDAoCp Facebook: https://bit.ly/2wYksLB Telegram: https://bit.ly/2IAqDuI ---------------------------------------------------------------------------------- Looking for the best cryptocurrency wallets? Check these out: BitLox: https://bit.ly/2rWQnHa CoolWallet S: https://bit.ly/2Liy5bv Trezor: https://bit.ly/2IXrZic Ledger Nano S: https://bit.ly/2IyE3al KeepKey: https://bit.ly/2x5TlhM Read about them here: https://bit.ly/2rTdthZ --------------------------------------------------------------------------------- References: Leading Crypto Asset Manager Grayscale Launches Stellar Lumens Trust https://www.altcoinbuzz.io/crypto-news/finance-and-funding/leading-crypto-asset-manager-grayscale-launches-stellar-lumens-trust/?fbclid=IwAR2AlAU_C_8Mm9CUm2hDci0pmdW3pvLzphS-BSy888SzDptaXMeifxZgJ1I Crypto Investment Firm Grayscale Launches Fund Dedicated to Stellar Lumens (XLM) https://www.cryptoglobe.com/latest/2019/01/crypto-investment-firm-grayscale-launches-fund-dedicated-to-stellar-lumens-xlm/ Grayscale Tweet https://twitter.com/GrayscaleInvest/status/1085904356635959297?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1085904356635959297&ref_url=https%3A%2F%2Fwww.altcoinbuzz.io%2Fcrypto-news%2Ffinance-and-funding%2Fleading-crypto-asset-manager-grayscale-launches-stellar-lumens-trust%2F Grayscale https://grayscale.co/stellar-lumens-trust/ BitGo CEO Says Institutional Money in Crypto Can ‘Easily’ Reach Trillions of Dollars As Company Launches Cold Storage Trading https://dailyhodl.com/2019/01/17/bitgo-ceo-says-institutional-money-in-crypto-can-easily-reach-trillions-of-dollars-as-company-launches-cold-storage-trading/ Crypto’s Billion-Dollar Theft Problem Prompts Safer Way to Trade https://www.bloomberg.com/news/articles/2019-01-16/crypto-s-billion-dollar-theft-problem-prompts-safer-way-to-trade Ethereum Chain Splits, An Estimated 10% of Miners Stay on Constantinople https://www.trustnodes.com/2019/01/17/ethereum-chain-splits-an-estimated-10-of-miners-stay-on-constantinople Ethereum Upgrade – Constantinople Hard Fork Delayed https://www.altcoinbuzz.io/crypto-news/product-release/ethereum-upgrade-constantinople-hard-fork-delayed/ VanEck to Nasdaq: Bitcoin Market Structure Expected to Improve in 2019 https://www.newsbtc.com/2019/01/17/vaneck-to-nasdaq-bitcoin-market-structure-expected-to-improve-in-2019/ Nasdaq Tweet https://twitter.com/Nasdaq/status/1085522054559031296?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1085522054559031296&ref_url=https%3A%2F%2Fwww.newsbtc.com%2F2019%2F01%2F17%2Fvaneck-to-nasdaq-bitcoin-market-structure-expected-to-improve-in-2019%2F -------------------------------------------------------------------------------- DISCLAIMER The information discussed on the Altcoin Buzz YouTube, Altcoin Buzz Ladies YouTube, Altcoin Buzz Podcast or other social media channels including but not limited to Twitter, Telegram chats, Instagram, facebook, website etc is not financial advice. This information is for educational, informational and entertainment purposes only. Any information and advice or investment strategies are thoughts and opinions only, relevant to accepted levels of risk tolerance of the writer, reviewer or narrator and their risk tolerance maybe different than yours. We are not responsible for your losses. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence and consult the financial advisor before acting on any information provided. Copyright Altcoin Buzz Pte Ltd. All rights reserved.
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