Bitcoin Daily: Four In 10 Americans Won’t Invest In Crypto, Philippines Plans FinTech And Crypto Hub

Bitcoin Daily

Pascal Boyart, an artist in France, has come up with a new way to accept tips: He has added a QR code leading to his bitcoin wallet on a piece of artwork, Cryptovest reported. Boyart has already received about 0.11 of a bitcoin in tips, but the artist has reportedly been warned that someone could paint over the code and have the tips sent to another wallet.

In a bid that could be seen as a challenge to Switzerland’s Crypto Valley, a new crypto and FinTech hub will reportedly come to the Philippines’ Cagayan Economic Zone Authority (CEZA), Cryptovest said. The venture could cost $100 million, but it may bring in 10,000 new jobs.

An economics professor from Yale, along with a Ph.D. candidate, have computed the probability that bitcoin will someday fall to $0, CNBC noted. Professor Aleh Tsyvinski and Ph.D. candidate Yukun Liu predict a 0.4 percent probability that the popular currency will someday have no value. In addition, they said the “current implied daily disaster probability” for Ripple is 0.6 percent and 0.3 percent for Ethereum. The price of bitcoin was $6,576.71 as of Thursday (Aug. 9) at 6:09 P.M., but the popular cryptocurrency was worth a little more than $7,000 on Tuesday (Aug. 7), according to CoinDesk.

On another note, a survey from Gem and Harris Insights suggests that not many Americans invest in digital currencies, Fortune reported. While only 8 percent of Americans own crypto, about 52 percent of people in the U.S. own stock. Furthermore, about 41 percent of Americans say they can’t be convinced to invest in crypto.

In other news, traditional venture capital (VC) firms are beginning to invest in blockchain and crypto projects, said The Next Web. According to a Crypto Finance Conference study, VC firms are investing in both startups and blockchain funds. Digital Currency Group, Blockchain Capital and Boost VC are the top crypto investors, according to the study.



The pressure on banks to modernize their payments capabilities to support initiatives such as ISO 20022 and instant/real time payments has been exacerbated by the emergence of COVID-19 and the compelling need to quickly scale operations due to the rapid growth of contactless payments, and subsequent increase in digitization. Given this new normal, the need for agility and optimization across the payments processing value chain is imperative.