FREE TRAINING: How You Can Generate 1000 ‘s

 

Generate $1000's Online In 2020!

In today's Free training I'm going to show you what is by far the BEST & EASIEST way to make money online in the comfort of your own home…

 

…and how you can tap into this proven system right now and start generating $1,000/Day (or more) and be on track for 6 figures. 

 

And How It Can Change Your Life Forever! In fact, this training has helped over 2000+ people from around the world in the last year make $1k and more! 

 

The best part is you don't need to have any prior online experience to do this…

 

Plus you don't need a lot of time as this only requires a few hours a day to generate up to thousands. 

 

I'm going to show you exactly how to use Facebook to generate thousands of dollars per day without a product, email list or even a website. 

 

Don't worry about results…I'll show you how you can virtually GUARANTEE results for yourself on today's training. What are you waiting for: Register Here!

 

 

Heiko Closhen, Entrepreneur

Biggest Bubble in the Economy Isn’t Bitcoin BTC It’s the Bond Market: Max Keiser

Biggest Bubble in the Economy Isn’t Bitcoin (BTC) – It’s the Bond Market: Max Keiser

Heiko Closhen, Entrepreneur

Santander and Ripple Launching Blockchain-Powered Payment Service in Mexico

Santander and Ripple Launching Blockchain-Powered Payment Service in Mexico

Santander, the 16th largest bank in the world with $1.74 trillion assets under management,

is planning to launch its Ripple-powered payments app One Pay FX in Mexico this year. The blockchain-based international payment solution, which went live in 2018, has already added six countries: Spain, the United Kingdom, Brazil, Poland, Portugal and Chile.

According to a filing submitted to the US Securities and Exchange Commission, Santander’s multi-corridor international blockchain app aims to offer customers increased transparency and predictability, and improve “the current sub-optimal customer experience and client stickiness through a best-in-class global payment system.” Traditional borderless payments can take up to five days to process. One Pay FX says its users can expect their payments to arrive on the same day while benefiting from competitive rates.

The app also provides a seamless digital experience with several details about each transaction including bank fees, exchange rates, estimated delivery time and a notification that the money has been received. One Pay FX uses Ripple’s payment messaging system, as opposed to Ripple’s native token XRP, to move money between currencies. The tech product, which is a competitor to the international financial network Swift, helps banks settle fiat-to-fiat transactions in real time by using messaging to clarify and verify transaction details.

Article Produced By
Daily Hodl Staff

https://dailyhodl.com/2020/03/28/santander-and-ripple-launching-blockchain-powered-payment-service-in-mexico/

Heiko Closhen, Entrepreneur

A Time To Think CHAOS ISOLATION UNCERTAINTY

A Time To Think… CHAOS.  ISOLATION.  UNCERTAINTY.

Life as we know it has been upended…

And it continues to change.

You can’t control what’s happening in the world, but you can control how you respond to it.

And how you respond in the coming days, weeks, and months can have a far-reaching, life-altering impact.

How do you really want to live?

Who do you want to be?

What do you want to become?

The power to create everything you want is largely in your hands.

• You can’t deny what’s happening right now. When it’s raining, it’s raining—you can pretend the sun is shining but you’ll still get wet when you step outside.

• You can’t control what’s going on, but you can control how you respond to it. The difference between reacting and responding. If you let what’s in the news control you, you’ll be consumed with fear and panic. That can be just as damaging as the virus itself.

• Listen to what the scientists and health officials are saying, but only for a few minutes a day to make sure you’re taking the right steps to help keep yourself and others safe.

• And then, tune inward so you can take care of yourself on all levels. You are a spiritual being. Your spiritual DNA is perfect.

• Practice gratitude. Visualize a healthy world. Focus on the good of what you already have and the good of what can be.

• Use this extra time alone to study more, think from the inside out. Study more.

• How we get through this depends on how we think and how we behave right now.

• This is not the time to settle. Times fraught with change and uncertainty are the perfect time to THINK. Then, you can creatively disrupt the norm, plant new seeds, act in the face of fear, and blossom.

In 1665, Isaac Newton had to work from home when the University of Cambridge temporarily closed due to the Bubonic plague.

It was the most productive period of his life.

He used the time to develop his theories on calculus, optics, and gravity.

Now THINK…

And decide how YOU will use this time of social distancing to change your life?

Bob Proctor

One life changing move you can make is to watch these videos  http://success-lifestyles.club/

Heiko Closhen, Entrepreneur

Having A Successful Home Based Business Made Easy

There are numerous reasons why you might be interested in starting your own home-based business, along with a great deal of doubt, concern and questions. The following article offers some tips and advice to help quell the concerns, and offer resolution to common issues many people face in the operation or start-up of a home business.

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Image by StockSnap from Pixabay

Before starting a home business, be sure to research your market fully. If your product is something that your target market doesn't want or need, you won't get many sales. Rather than spending all your energy trying to force the market to buy your product, spend that energy designing and promoting a product the market wants.

If you are going to splurge on any home office furniture, splurge on a very comfortable office chair. You are going to spend many, many hours in this chair and if it is uncomfortable, you will not be as productive as you could be and you could technically, do damage to your body.

Since your home is also your work place, make a point to get out of the house on a regular basis. Don't isolate yourself for the sake of convenience. Go have lunch in the park, grab your coffee at a bookstore, etc. Just make sure you are out breathing fresh air at least once a day.

If you have a business, then you need a budget. How can you run a cost efficient business without a budget? It is impossible, and therefore imperative that you incorporate a well devised budget into the planning process. This budget should include what your expenses are of course and it should itemize them. Make sure you are thorough and include everything so that you are not misleading yourself.

Use your web site to advertise a free product for visitors. This will increase traffic on your site and give potential customers the ability to sample your product. Although it may cost a little money in the beginning, you should make up for it in sales from impressed new customers.

Do not be afraid to post your email address on your web site. Make sure that you include it on every separate page that you have. You do not want potential customers to search to figure out how to get in touch with you. The more effort that it takes them, the more likely they are to go on to something else without purchasing from you.

Make sure you have a support network before starting your home business. This includes family members who need to be aware of the time commitment involved, as well as an external networks you can reach out to for advice or support. Working from home has numerous benefits, but remaining a part of a group outside your home is invaluable.

Making the decision to start a home business or to invest more time in the one you've already gotten off the ground can be a cause of concern. There's so many questions about what to do, when to do it, how to do it, and why to do it, from marketing to overhead to product choice. Whether you just graduated with your MBA or are a stay-at-home mom or dad, you can simplify the answers to these questions by using the sensible advice in these tips.

I cannot end this article and not mention the GREATEST resource for small business on the entire internet.

It is Markethive and you can explore it HERE.

Maxwell Jacobs is the Owner of http://SolutionsforHomeProfits.com. Check us out anytime for marketing tips and a free subscription to our cutting edge newsletter.

Heiko Closhen, Entrepreneur

Bitcoin Stalls in the Mid-6000s as Stock Market Rally Continues

For over 48 hours, Bitcoin has flatlined — establishing a tight, less-than-10% range in the mid-$6,000s.

This comes after BTC embarked on a 25% rally from the $5,000s to a price as high as $7,100 that transpired this weekend and early this week, which coincided with a smaller but equally-as-notable increase in the value of gold. Bitcoin’s lack of direction comes as the stock market has rebounded hard. Really hard. Since the bottom near 18,000 points, the Dow Jones Index has rallied to 21,780 as of the time of writing this, marking a jaw-dropping recovery of 20%. Global indices have reflected this move, rallying almost as hard as the Dow.

This surge comes despite record-level unemployment claims around the world; in fact, numbers released Thursday morning revealed that 3.3 million Americans have filed for unemployment over the past week, which is four times higher than any previous record of this metric, and seemingly a sign that Great Depression-level unemployment is a possibility. So, it seems that Bitcoin seems to be mostly nonreactive to news regarding traditional markets or traditional markets themselves, leaving many wondering what’s next for the cryptocurrency.

Bearish Below $8,000

Despite the rally, most seem to be convinced that this is but a deviation from the $5,000s, where a majority of analysts expect Bitcoin to accumulate around prior to a bull market breakout. Indeed, in a recent analysis published to TradingView,  cryptocurrency analyst Filb Filb explained that as long as Bitcoin remains below $7,000 and $8,000, it is leaning bearish. He cited the fact that there exists likely the “worst cluster of resistance seen since the bear market of 2018” at $8,000:

  • The 200-day moving average.
  • The 100-day moving average.
  • The 50-day moving average.
  • The 20-month moving average.
  • Bitcoin’s 61.8% Fibonacci Retracement of the February high to the $3,800 bottom.
  • And the yearly pivot level.

Furthermore, Nunya Bizniz on March 26th noted that Bitcoin’s weekly candle is currently below the bottom band of the non-linear regression curve that has acted as support for Bitcoin for over eight years of price action, suggesting that the BTC’s secular growth trend may be coming to an end, at least for the time being.

Long-Term Outlook is Anything But Bearish

Some have ignored the short-term directionality entirely, arguing that whether it be $4,000 or $7,000, Bitcoin’s fundamental strength is only growing. Per previous reports from Blockonomi, Galaxy Digital founder Mike Novogratz told CNBC on Monday that he has been buying the dips in both gold and Bitcoin for one key reason: central banks have started to “run amok” with their policies amid these times of economic distress.

He explained further:

If there was ever a time — debasement of fiat currencies, monetization of trillions of dollars of debt, this is the time for Bitcoin.

This was echoed by Placeholder Capital’s Chris Burniske, the analyst who coined the term “crypto-assets.” He wrote on Twitter that this crisis “will pass, and crypto’s fundamentals will have strengthened through it.” Burniske highlighted how “new technologies rise as old systems break, and often it takes a crisis to reveal the flaws of the old system in full,” presumably referencing the issues fiat money and financial markets have seen as they’ve come under the record-level economic stress posed by the coronavirus outbreak.

Article Produced By
Nick Chong

Since 2013, Nick has shown interest in Bitcoin and cryptocurrencies. He has since become involved in the industry as a full-time content creator, working for NewsBTC, Bitcoinist, LongHash, among other outlets. Aside from covering the news, Nick is a Creative at Taiwanese technology company HTC.

https://blockonomi.com/bitcoin-stalls-in-the-mid-6000s/

 

Heiko Closhen, Entrepreneur

Coronavirus the Halving and a Price Drop: Bitcoin Mining Marches On

Coronavirus, the Halving and a Price Drop: Bitcoin Mining Marches On

mining and coronavirus

CoinShares, a Jersey-based asset management firm with offices in London and New York

that provides advice and other services for investors, released a statement on the state of Bitcoin mining during the global uncertainty caused by the coronavirus, ahead of a planned, more thorough June 2020 mining report. In it, CoinShares’ research director Christopher Bendiksen wrote that the current talk of a possible mining “death spiral” due to coronavirus-based lockdowns makes for dramatic reading, but is not at all based in reality.

“‘Mining death spirals’ do not actually happen in real life,” Bendiksen wrote in the statement. “They are highly theoretical edge cases without any historical real-world precedent … Mining is here to stay.” Confidence in the mining space and in bitcoin generally, despite economic uncertainty around the world, is high at the firm. “Bitcoin is arguably the only financial asset that can operate remotely — nobody needs to go to work to make bitcoin work,” Danny Masters, executive chairman of CoinShares, wrote in a supplementary statement sent to Bitcoin Magazine. “Nobody needs to fill an ATM machine. While things look bleak for everything, I can’t think of a better asset to buy than bitcoin.”

Difficulty, Block Frequency and Hashrate

The cost of Bitcoin mining is largely a function of the difficulty — a dynamic metric determined by the protocol itself that can adjust both up and down to keep block times at 10 minutes on average. The difficulty has reset downwards many times — sometimes dramatically as the result of a pullback in price, as in November and December of 2018 — but the network has never ground to a complete halt or even come anywhere close to doing so. “There is no price level that could cause Bitcoin’s emission rate to increase,” reads Benedickson’s statement. “When the dust settles on the current financial crisis, the Bitcoin monetary system will have created exactly as many bitcoins as originally intended.” In essence, the Bitcoin mining difficulty adjustment keeps Bitcoin block frequency steady, no matter the amount of total network hashrate.

What About the Halving?

“If prices do not recover, the hashrate will fall — and when the halving hits, it will fall again,” wrote Bendiksen. “This is not a problem for Bitcoin, nor is it unprecedented.”  And it’s not always the biggest bitcoin mining groups that will survive a major bitcoin price recession, contrary to what you may be hearing. It will be the groups that have the cheapest energy costs and the newest, most efficient hardware. “The halving is still a couple months away and many miners are already closing up shop,” Bendiksen said in a follow-up interview with Bitcoin Magazine. “So, at the time of the halving, we will likely be in a completely different difficulty environment than now. Recent estimates show that as much as 25 percent of the peak-level hashrate may already have been turned off.”

While CoinShares suggests that post-halving mining will be different than the current and near-future mining environment, Bendiksen does believe today’s status offers an insightful window. “For all of those who are worried about the halving, this is a perfect prelude because the end effect on miners is the exact same,” he wrote in his statement. “Hence, the hashrate dynamics we’re likely to see in the upcoming weeks will be an excellent parallel to those we might also see after the halving in May.” Bendiksen acknowledged that some of the higher-cost miners may drop out after the halving, but he also sees mining companies stabilizing and building for the foreseeable future.

Building the Mining Infrastructure of the Future

Meanwhile, Blockstream Mining is quietly building its mining business with facilities in Quebec, Canada and Georgia, USA, with over 300 MW of energy and a thriving colocation service offering equipment, space, bandwidth and power rental for miners who can benefit from inexpensive energy without needing to negotiate separately with local authorities. According to Blockstream CSO Samson Mow, the company has taken steps to be ready for the halving, come what may. Despite the current turmoil, it is focused on the long term. “For Blockstream’s mining operations, our electricity and operational costs are low enough that we can outlast most miners and be the last ones standing,” Mow told Bitcoin Magazine in an interview. “Also, we’ve mined bitcoins for quite some time and we HODL for the medium term, so a price drop during the halving would actually have no impact for us.” Mow noted that, while it’s hard to predict the price, he believes some inefficient miners may need to shut off, while most miners will be fine through the halving.

“I think the bitcoin price will recover to a point where, post-halving, it will still be profitable to mine BTC,” Mow said. “Even if that doesn’t happen, it’s not likely we will see a massive drop in hashrate. Many miners are already on the latest generation of equipment and have already recouped those costs, so they only have to deal with opex [operational expenditures].” CoinShares, a Jersey-based asset management firm with offices in London and New York that provides advice and other services for investors, released a statement on the state of Bitcoin mining during the global uncertainty caused by the coronavirus, ahead of a planned, more thorough June 2020 mining report. In it, CoinShares’ research director Christopher Bendiksen wrote that the current talk of a possible mining “death spiral” due to coronavirus-based lockdowns makes for dramatic reading, but is not at all based in reality.

“‘Mining death spirals’ do not actually happen in real life,” Bendiksen wrote in the statement. “They are highly theoretical edge cases without any historical real-world precedent … Mining is here to stay.” Confidence in the mining space and in bitcoin generally, despite economic uncertainty around the world, is high at the firm. “Bitcoin is arguably the only financial asset that can operate remotely — nobody needs to go to work to make bitcoin work,” Danny Masters, executive chairman of CoinShares, wrote in a supplementary statement sent to Bitcoin Magazine. “Nobody needs to fill an ATM machine. While things look bleak for everything, I can’t think of a better asset to buy than bitcoin.”

Difficulty, Block Frequency and Hashrate

The cost of Bitcoin mining is largely a function of the difficulty — a dynamic metric determined by the protocol itself that can adjust both up and down to keep block times at 10 minutes on average. The difficulty has reset downwards many times — sometimes dramatically as the result of a pullback in price, as in November and December of 2018 — but the network has never ground to a complete halt or even come anywhere close to doing so. “There is no price level that could cause Bitcoin’s emission rate to increase,” reads Benedickson’s statement. “When the dust settles on the current financial crisis, the Bitcoin monetary system will have created exactly as many bitcoins as originally intended.” In essence, the Bitcoin mining difficulty adjustment keeps Bitcoin block frequency steady, no matter the amount of total network hashrate.

What About the Halving?

“If prices do not recover, the hashrate will fall — and when the halving hits, it will fall again,” wrote Bendiksen. “This is not a problem for Bitcoin, nor is it unprecedented.” And it’s not always the biggest bitcoin mining groups that will survive a major bitcoin price recession, contrary to what you may be hearing. It will be the groups that have the cheapest energy costs and the newest, most efficient hardware. “The halving is still a couple months away and many miners are already closing up shop,” Bendiksen said in a follow-up interview with Bitcoin Magazine. “So, at the time of the halving, we will likely be in a completely different difficulty environment than now. Recent estimates show that as much as 25 percent of the peak-level hashrate may already have been turned off.”

While CoinShares suggests that post-halving mining will be different than the current and near-future mining environment, Bendiksen does believe today’s status offers an insightful window. “For all of those who are worried about the halving, this is a perfect prelude because the end effect on miners is the exact same,” he wrote in his statement. “Hence, the hashrate dynamics we’re likely to see in the upcoming weeks will be an excellent parallel to those we might also see after the halving in May.” Bendiksen acknowledged that some of the higher-cost miners may drop out after the halving, but he also sees mining companies stabilizing and building for the foreseeable future.

Building the Mining Infrastructure of the Future

Meanwhile, Blockstream Mining is quietly building its mining business with facilities in Quebec, Canada and Georgia, USA, with over 300 MW of energy and a thriving colocation service offering equipment, space, bandwidth and power rental for miners who can benefit from inexpensive energy without needing to negotiate separately with local authorities. According to Blockstream CSO Samson Mow, the company has taken steps to be ready for the halving, come what may. Despite the current turmoil, it is focused on the long term.

“For Blockstream’s mining operations, our electricity and operational costs are low enough that we can outlast most miners and be the last ones standing,” Mow told Bitcoin Magazine in an interview. “Also, we’ve mined bitcoins for quite some time and we HODL for the medium term, so a price drop during the halving would actually have no impact for us.” Mow noted that, while it’s hard to predict the price, he believes some inefficient miners may need to shut off, while most miners will be fine through the halving. “I think the bitcoin price will recover to a point where, post-halving, it will still be profitable to mine BTC,” Mow said. “Even if that doesn’t happen, it’s not likely we will see a massive drop in hashrate. Many miners are already on the latest generation of equipment and have already recouped those costs, so they only have to deal with opex [operational expenditures].” 

Investors Are More Cautious But Still Interested in Bitcoin Mining

Ryan Porter, head of business development for mining-focused financial services and brokerage firm BitOoda, was busy fielding inquiries about new North American mining opportunities in December 2019. Now, he said, he’s still getting inquiries but potential mining companies are more cautious and want to lock in competitive energy pricing. “Overall, what we’re seeing is the miners that were well positioned to be profitable after the halving are still well positioned now, where the miners that would have needed to shutter operations have had to fast track those plans,” Porter told Bitcoin Magazine in a phone interview. “We’ve seen hashrate fall precipitously as now unprofitable mining rigs are being taken offline, and conservative operators who were thoughtful about managing their bitcoin price risk are now looking to purchase hardware at distressed prices.”

Porter is confident that the best-managed mining operations that have inexpensive power sources and efficient computers will survive the halving. What he’s seeing is the next stage in the evolution and maturation of the mining industry. “Where we are starting to see a change in planning for miners is how they’re approaching risk management,” he added. “We had previously engaged with miners on implementing BTC price-hedging programs, and we’ve had quite a few of those firms reach out to us over the past week to start a meaningful risk management engagement.”

The CoinShares team is confident that bitcoin and its critical mining industry will ride out the coronavirus storm. In his interview with Bitcoin Magazine, Bendiksen noted that, unlike the fiat monetary system, the bitcoin system is “run coldly and unemotionally by a network of computers according to pre-set rules.” “These computers never need to work from home, never get sick, scared or panicked and can not be influenced to print money by charismatic or powerful politicians, even in the most challenging times,” he said. “They simply execute their code as prescribed, no matter what is happening in the world.”

Article Produced By
Jessie Willms

Jessie Willms is a planet earth based former government and political researcher and communications officer helping to document the FinTech revolution and its impact on traditional institutions and governments.

https://bitcoinmagazine.com/articles/coronavirus-the-halving-and-a-price-drop-bitcoin-mining-marches-on

Heiko Closhen, Entrepreneur

The King of Blockchains Bitcoin Can Become the Foundation for Web 30

The King of Blockchains, Bitcoin Can Become the Foundation for Web 3.0

bitcoin web 3.0

Bitcoin remains the undisputed “king” of blockchains.

Bitcoin’s dominance has increased significantly since the experimental times of 2017. Bitcoin has survived many attempted forks and “civil wars” and has established itself as the reserve cryptocurrency; people fall back to Bitcoin in bear markets. The production network has stood the test of time for over 10 years now. However, the crypto industry has dismissed Bitcoin when it comes to smart contracts or Web 3.0. I believe this is going to change.

It’s true that Bitcoin cannot do everything. Bitcoin is secure because it has a limited scripting language. Bitcoin is reliable and durable because it doesn’t change. This does not mean that the developer ecosystem around Bitcoin cannot innovate and enable support for Web 3.0. As the crypto industry makes progress toward Web 3.0, we’ll come to realize that it’s hard to beat the security and network effects of Bitcoin. Despite several initiatives by potential competitors, the hashrate of the Bitcoin network and the security offered by its proof-of-work (PoW) mining remain unparalleled to this day. For years, new cryptocurrencies have attempted to launch their own native PoW networks; none has approached Bitcoin’s success.

Bitcoin has network effects. Most people are introduced to cryptocurrencies through Bitcoin. If something can be done on top of Bitcoin, it will eventually get done on top of Bitcoin rather than a smaller ecosystem. Network effects make Bitcoin’s success self-reinforcing: Miners see that the network is established, that the community is strong and that the currency is the “hardest” money in the crypto space. Miners join or expand their commitment, increasing hashpower and network reliability; their entry inspires still more holders and businesses, increasing community support. The cycle goes on.

Smart Contracts on Bitcoin

Despite the success of Bitcoin, critics who question Bitcoin’s capacity for innovation have some valid points. There are aspects of Bitcoin that frustrate developers who wish to explore the world of smart contracts and decentralized apps. Many projects have created their own blockchains because they perceive Bitcoin’s scripting limitations as a dealbreaker. They cannot deny the original chain’s security, but they also wish they could write more expressive smart contracts. New blockchains find themselves struggling with poor, native PoW security, and often attempt jumps to proof of stake (PoS) or delegated PoS setups which may be less secure and tend toward centralization.

As a result, several crypto projects have concluded that they must pick their poison: They must either attempt to bootstrap a native PoW chain or else establish a PoS chain, with all of the tradeoffs that entails. But these are not the only options. There is a different path available: Smart contract platforms can employ Bitcoin’s PoW security to safeguard new blockchains. New protocols can anchor to the security of Bitcoin and extend Bitcoin’s utility. Transactions that settle on Bitcoin are harder to reorganize than they are on any other network. This is an under-explored design space but one which is beginning to change. 

The Bitcoin blockchain already has security derived from its energy expenditure and this security may be passed on to the interconnected chain by using concepts like proof-of-transfer (PoX). It’s important to recognize that interconnected chains differ from traditional sidechains; interconnected chains create their own crypto assets, but they utilize the Bitcoin chain for broadcasting mining operations and consensus steps. An interconnected chain anchored to Bitcoin is a win-win proposition for all parties as the new blockchain benefits from the reliability, and longevity of Bitcoin while providing freedom and flexibility to developers working with the interconnected chain.

The Bitcoin blockchain can also reap benefits, acquiring new and powerful use cases. These can attract new miners and new network participants, further solidifying Bitcoin’s place as the reserve cryptocurrency. Smart contract platforms, and I include my own project, Blockstack, in this, understand how powerful on-chain contracts can be. But just as you don’t need to build all new roads to drive new cars, there’s no need to reinvent PoW or PoS chains to employ robust smart contracts or to launch new blockchains. The solid foundation we need to realize our vision for Web 3.0 is already here; a future Web 3.0 can anchor on Bitcoin.

Article Produced By
Muneeb Ali

A PhD graduate from Princeton University, Dr. Muneeb Ali is the co-founder of Blockstack, a project on a mission to build a user owned internet, as well as the CEO of Blockstack PBC, a Public Benefit Corp that has raised more than $75 million to develop the core protocols for Blockstack.

https://bitcoinmagazine.com/articles/the-king-of-blockchains-bitcoin-can-become-the-foundation-for-web-3-0

Heiko Closhen, Entrepreneur

South Korea passes one of the world’s first comprehensive cryptocurrency laws

The South Korean National Assembly passed new legislation today that will provide a framework for the regulation and legalization of cryptocurrencies and crypto exchanges.

In a unanimous vote during a special session of the legislature convened amidst the country’s worsening novel coronavirus situation, the representatives passed an amendment to the country’s financial services laws that would authorize Korea’s financial regulators to effectively oversee the nascent industry and develop rules around anti-money laundering among other processes.

South Korea has been on the forefront of the cryptocurrency boom and bust over the past few years, and it’s one of the few countries with wide-scale adoption of the technology. Surveys at the height of the crypto craze in 2017 showed that more than a third of the country’s workers were active investors in cryptocurrencies, like Bitcoin, Ethereum and other systems. The country’s largest city, Seoul, led a government initiative to introduce its own cryptocurrency — S-coin — that was designed to capture the zeitgeist of the frenzy.

During that period, South Korea’s government moved quickly to push new regulations and clamp down on the spread of blockchain, which caused large gyrations in the price of Bitcoin as investors observed how the country’s investors would react.

Today’s vote in the legislature just a few years later is a relatively quick turnaround for regulators, and shows the increasing acceptance of blockchain and, more specifically, cryptocurrencies in the context of financial services both locally and across the world. One of the country’s largest technology companies, Kakao, has continued to invest in blockchain initiatives, and the local ecosystem remains relatively robust in innovation in the sector.

The passage of the cryptocurrency legislation is a victory for the Korean startup ecosystem, but other major questions remain about the sector.

Among the most heated topics today is the fate of Tada (타다), the indigenous ride-hailing startup that competes with the traditional and regulated taxi industry. Since the company’s launch in late 2018, the company has faced constant threats of shut down by regulators, before a reprieve a few weeks ago by the country’s top constitutional court approved its operations.

Yet, in the same special session that saw the cryptocurrency bill pass, the National Assembly a day ago approved in committee a bill that would effectively ban Tada and mandate that it receive an operating license from the government. Expect further action on Tada in the weeks ahead.

As for the cryptocurrency law, its passage and presumed signing by South Korean president Moon Jae-in starts a months-long rulemaking process that will also provide time for existing startups and exchanges to transition into the law’s new regulatory apparatus.

Korea’s parliamentary elections are coming up in just a few weeks (on April 15th), and, while the situation around the novel coronavirus is taking a lion’s share of the local headlines, votes on tech measures are a way for representatives to position themselves on other salient issues before voters decide.

Heiko Closhen, Entrepreneur

Power to the seniors