Reliance Retail Embraces Digital Rupee, Ushers In CBDC Revolution in India

• Reliance Retail, a leading Indian retail chain, has begun accepting the national CBDC, the digital rupee (e₹), at one of its store lines.
• India’s central bank, the Reserve Bank of India (RBI) outlined plans for the CBDC in India in a concept note in October last year.
• The company is partnering with banking institutions ICICI Bank and Kotak Mahindra Bank, along with fintech Innoviti Technologies for the CBDC payment system.

Reliance Retail’s Acceptance of National CBDC

A leading Indian retail chain, Reliance Retail, has begun accepting the national CBDC, the digital rupee (e₹). In India, the central bank is testing digital currency across wholesale and retail segments. Reliance Retail has begun accepting e₹ at one of its store lines and intends to expand the payment process to all of its businesses.

The RBI’s Concept Note

India’s central bank, the Reserve Bank of India (RBI) outlined plans for the CBDC in India in a concept note in October last year. The central bank defined a number of factors related to introducing a digital rupee including potential positive and negative effects on the country. According to RBI’s statement one of objectives behind introducing a CBDC is reducing operational cost associated with managing cash.

Pilot Testing

CBDC support is already available at Reliance Retail’s gourmet store line as per company’s statement. Furthermore they stated that they will be expanding support for digital rupee across all their establishments which could potentially accelerate adoption rate of this technology within country .For this purpose it has partnered up with banking institutions ICICI Bank and Kotak Mahindra Bank along with fintech Innoviti Technologies for creating payment system related to this currency .At checkout customers who choose to pay through this currency are given QR code at center for executing transaction .

V Subramaniam’s Statement

V Subramaniam Director from Reliance Retail Limited shared his opinion about this venture saying “This historic initiative of pioneering digital currency acceptance at our stores is line with company’s strategic vision offering power choice Indian consumers”

Digital Rupee Pilot Launch Date

In November 2020 central bank launched wholesale pilot program related to Digital Rupee only accessible by institutions and merchants then after month on 1st December 2022 it launched another pilot program related to retail segment . This new form of currency will be issued same denominations distributed through financial intermediaries as part pilot project users able execute transactions via wallet provided by said banks .

Bull Market in Bitcoin? Data Suggests Early Stages of Bull Run

• Bitcoin has entered the early stages of a bull phase according to data provided by CryptoQuant.
• The bull/bear market indicator suggests that the market could continue to move in a positive direction for a while before things take a bearish turn.
• The lack of movement from whales, smallholder’s large issuance of Bitcoin across various addresses could be contributing to the current BTC price rally.

Bitcoin has recently entered the early stages of a bull phase, which was suggested by a recent data provided by CryptoQuant. The bull/bear market indicator, which is a metric that compares the number of days the market spends in a bullish phase to the number of days it spends in a bearish phase, suggested that the market could continue to move in a positive direction for a while before things take a bearish turn.

However, there was a major lag observed in Bitcoin’s returns compared to other cycles, as showed by ecoinometrics‘ data. This could be due to several factors, such as investors‘ sentiment, regulatory environment, and economic conditions. A lot of Bitcoin holders still weren’t profitable, suggesting that they would be waiting for the prices to go further up before selling their positions.

The current BTC price rally could be attributed to several factors. One of the possible reasons why the price of Bitcoin is still growing is the lack of movement from whales, which are large holders of Bitcoin. These whales have been known to manipulate the market by buying and selling large amounts of Bitcoin. Possibly, their refusal to sell their positions in the current market could be contributing to the current bullish phase.

Another factor that likely contributed to the rising prices of Bitcoin is the issuance of Bitcoin across various addresses. Shrimps, which are smallholders of Bitcoin, added 107% of top 10 addresses in the past month, according to data from CryptoQuant. Additionally, the number of institutional investors in the market has been increasing significantly, which could be another factor driving up Bitcoin prices.

Overall, the data from CryptoQuant, ecoinometrics, and other sources suggest that Bitcoin has entered the early stages of a bull phase. The bull/bear market indicator suggests that the market could continue to move in a positive direction for a while before things take a bearish turn. This could be due to several factors, such as the lack of movement from whales, large issuance of Bitcoin across various addresses, and increasing number of institutional investors.

FTX Crypto Exchange Set for Possible Revival, Boosts FTT Token Price

• FTX CEO John J. Ray III is considering reviving the crypto exchange by exploring the possibility of rebooting the exchange
• A task force has been set up to determine if this would bring more value to the exchange’s customers than liquidating the assets or selling the exchange
• The news has boosted the price of FTT – the crypto exchange’s token

In an interview with the Wall Street Journal, FTX CEO John J. Ray III announced that he is exploring the possibility of bringing the dead crypto exchange back to life. The exchange – FTX.com – was operating on a global level when it suddenly filed for bankruptcy in November 2022 after customers started withdrawing their assets from the platform aggressively. This led to the resignation of Sam Bankman-Fried – founder of FTX – from the post of CEO, and the role was assigned to John J. Ray III, the American lawyer who oversaw the liquidation of Enron.

In the latest interview, the new CEO stated that a task force has been set up to revive the crypto exchange as its technology received a positive response from the customers. The team is currently looking into whether this move would bring more value to the exchange’s customers than liquidating the assets or selling the exchange. Ray added that „If there is a path forward on that, then we will not only explore that, we’ll do it.“

The news of FTX’s possible revival has been met with positive feedback from the crypto community and has boosted the price of FTT – the crypto exchange’s token. According to CoinMarketCap, the token was trading at $2.24 at press time and had seen an increase of over 25% in the last hour. In addition, the coin’s value has increased by over 60% in the past seven days.

However, Ray also commented on the recent claims made by the former CEO – Sam Bankman-Fried. He remarked that SBF’s statement was unhelpful and dismissed the need for having a conversation with him. Ray also added that the task force is currently looking into the technical capabilities and other potential features that could be added to the exchange. This could help revive the crypto exchange and make it more accessible to customers.

At the moment, the exact timeline for the revival of the exchange is yet to be announced. However, with the news of the potential revival, the crypto community is hopeful that FTX will make a comeback and become a major player in the crypto market.

Robinhood Delisting BSV Causes Price Drop of 5%

• Robinhood recently announced that it will delist Bitcoin SV (BSV) and cease trading it on 25 January.
• The market sentiment and the delisting announcement had an impact on the price of BSV, leading to a 5% decline.
• According to Santiment’s volume metric, there was a significant increase in the number of transactions, with $77 million being traded on 11 January.

The cryptocurrency Bitcoin Satoshi Vision (BSV) saw a 5% decline in its value on 11 January, likely due to the announcement from stock and cryptocurrency trading platform Robinhood that it would soon be delisting the token. Robinhood’s announcement highlighted that customers would no longer be able to trade, purchase, or otherwise deal with BSV as of 25 January, with any unsold tokens being sold and credited to customer accounts automatically.

Bitcoin SV, or “Satoshi’s Vision” as it is often referred to, is a hard fork of Bitcoin Cash and is known for its larger block size which leads to lower transaction costs. This sets it apart from other variants of Bitcoin, such as Bitcoin Cash. The news of the delisting from Robinhood caused a significant drop in the price of BSV and was seen as the likely cause for the downward trend in price.

In order to gain further insight into the decline, data analysis platform Santiment looked at the volume metric in more detail. This revealed that over $77 million was traded over a 24 hour period on 11 January, which was the highest number of transactions seen this year. This increase in volume was thought to be a result of the selling pressure as a response to the delisting announcement.

The current worth of 1, 10 and 100 BSVs can be evaluated by taking into account the current market value of the token. As of the time of writing, 1 BSV is worth $176.90, 10 BSVs are worth $1769, and 100 BSVs are worth $17,690.

Looking at the future, it is difficult to predict whether the downward trend in price of BSV will continue due to the uncertainty of the current market. Investors should proceed with caution and keep in mind that the delisting from Robinhood may have an impact on the price of the token.

Chiliz Could See Further Gains as Bulls Push Prices North

• Chiliz has recently seen bullish momentum on the lower timeframes but approaches another key resistance level on the daily timeframe.
• Chiliz faced rejection at the $0.1275 mark in December and continued its freefall to reach the local low at $0.097 in late December.
• $0.131 and $0.1485 remain key resistance levels to watch out for as Chiliz could push further north but those gains could get curtailed near these levels.

Chiliz has been on a bullish run recently, with bullish momentum seen on the lower timeframes. This follows a period of bearishness in December, when Chiliz faced rejection at the $0.1275 mark and fell to the local low at $0.097. As it stands now, it appears that the market structure has taken a bullish hue after breaking above the $0.116 mark. However, there still remain some key levels of resistance that need to be cleared before we can see further gains.

The first resistance level to watch out for is $0.131, which is a long-term level of significance. Beyond that is a bearish order block on the daily timeframe which extends from $0.1325 to $0.1485. If Chiliz is able to break above these levels, then we could see further gains in the token. However, if it fails to do so then we could see a pullback in the price.

It is important to note that the selling pressure since mid-November has been immense, and the market could still remain bearish in the longer timeframe. Additionally, a fair value gap from mid-December has already seen a strong bearish reaction and this imbalance has not been filled yet. This means that traders should be wary of further downward pressure in the coming weeks and months.

Finally, evidence from the charts showed that the supply held by top exchanges took a dip recently, indicating that whales may be accumulating the token. This could be an early sign that the local top is imminent and that further gains are likely in the near future. All of this means that Chiliz remains an interesting token to watch in the coming months.

Ist Bitcoin Up sicher?

Wenn wir Sicherheit als Bitcoin-Sicherheit definieren, dann können wir sagen, dass Bitcoin Up ziemlich sicher ist. Bis jetzt hat der Austausch eine ziemlich gute Sicherheitsbilanz. Einige der letzten gemeldeten Vorfälle gehen auf das Jahr 2014 zurück. Damals wurden einzelne Benutzerkonten gephisht. Seitdem wurden die API-Schwachstellen in erheblichem Umfang behoben. Jetzt hat Bitcoin Up strengere Anmeldeanforderungen, die solche Hacks verhindern.

Der wichtigste Aspekt ist jedoch, dass die Kassenbestände von Bitcoin Up nie gehackt wurden. Das Unternehmen hatte keine Vorfälle, bei denen Münzen verloren gingen. Es waren nur einzelne Nutzer, die den Zugang zu ihren Konten verloren. Im Gegensatz zu Binance gab es keinen größeren Vorfall, der zum Verlust von Bitcoins führte.

Aber wenn wir Sicherheit als eine Erweiterung der Privatsphäre definieren, dann ist Bitcoin Up nicht sicher. Wie ein Bankkonto meldet es Daten über Ihre Bestände an die Regierung. Außerdem hat Bitcoin Up ein Blockchain-Analyseteam eingestellt, um alle eingehenden Transaktionen zu deanonymisieren. Es ist also wahrscheinlich, dass auch andere Dritte Daten über Ihren Kontostand erhalten können. Und angesichts der Natur von Bitcoin werden sie auch versuchen, herauszufinden, mit wem Sie Transaktionen durchführen.

Darüber hinaus haben im Juni 2020 von der Regierung veröffentlichte Dokumente gezeigt, dass Bitcoin Up ein Angebot für den Verkauf seiner Blockchain-Analysedaten an die IRS und die DEA abgegeben hat.

Bitcoin Up zu HODLen

Es wird daher empfohlen, Ihre Bitcoins nicht auf Bitcoin Up zu HODLen. Einige Hacker könnten Ihre KYC-Daten (ID, Reisepass, Adresse, Telefonnummer) finden und die Coins von Ihnen erpressen. Wenn Sie Ihre persönlichen Daten an Börsen wie Bitcoin Up weitergeben, sind Sie angreifbarer. Es reicht aus, wenn Hacker herausfinden, wer Sie sind, wo Sie wohnen und wie viele Coins Sie besitzen.

Je mehr Ihrer Finanzdaten im Internet gespeichert werden, desto wahrscheinlicher ist es, dass Sie zur Zielscheibe werden. Ja, Ihre Münzen sind durch die FDIC-Versicherung abgedeckt. Aber es wird schwer zu beweisen sein, dass Bitcoin Up für den Angriff verantwortlich war. Und jede Versicherungsgesellschaft wird versuchen, Gründe zu finden, um Ihnen die Schuld in die Schuhe zu schieben und niemals zu zahlen.

Eine Versicherungspolice wird Sie nicht vor physischen Angriffen schützen – sie könnte sogar das Gegenteil bewirken. Denken Sie also daran, dass die sichersten Daten die sind, die nicht in Internet-Datenbanken gespeichert sind. Halten Sie Ihre persönlichen Daten von den Verwahrern fern und bewahren Sie Ihre Bitcoins in einem Kühlhaus auf. Sie werden nachts besser schlafen.

Eine vollständige Zusammenfassung finden Sie in unserem vollständigen Bericht über die Sicherheit von Bitcoin Up.

Von Bitcoin Up angebotene Dienstleistungen
Brokerage
Bitcoin Up kann derzeit keine „Krypto-Wertpapiere“ ausgeben. Dennoch hat die Börse angekündigt, ein SEC-regulierter Broker zu werden. Im Jahr 2018 hat Bitcoin Up sogar Keystone Capital, einen Wertpapierhändler, übernommen. Aber im Moment ist die Börse noch kein Broker-Dealer.

Signature Bank’s crypto deposits earned $1B in the second quarter

As we know, the relationship between banks and crypto-currencies is a story of hate and love, rejecting digital assets at the beginning, but accepting them for a happy ending. This is the case for Signature Bank, which has reported raising $1 billion in crypto deposits alone, according to a report analyzing the second quarter of the year.

It should be noted that, the report states an increase of almost $8 billion in deposits registered by the bank. Therefore, this increase in crypto deposits is a new record for the agency, increasing the share of digital assets within the bank’s infrastructure.

With all this, in a call to the bank’s shareholders. Signature’s CEO, Joseph DePaolo, also attributed the progress in crypto deposits to an increase in all of the bank’s business lines, including the Signet payment platform based on Blockchain.

Did you invest today? You’re still at the forefront of crypto currencies

Crypto deposits
It should be noted that the crypt-currency sector is often a rich source of low-cost, non-interest bearing deposits. Especially for banks such as Signature Bank, Silvergate Bank and Metropolitan Commercial Bank. Consequently, analysts have taken into account the growth of Signature’s crypto deposits.

Similarly, DePaolo stated in the earnings report, the following:

„This is now the fourth consecutive quarter that we have exceeded $1 billion in deposit growth, both total and average.

He added, „Non-interest bearing crypto deposits of $16.1 billion still represent a high 32% of total deposits, up from the second quarter of last year.

However, according to Joseph DePaolo’s statements: „The cost of these crypto deposits also decreased to 56 basis points from 98 basis points, due to the low interest rate. Therefore, in order to improve profitability, the bank wants to reduce the cost of deposits by about 40 basis points.

Eric Howell, the bank’s executive vice president of corporate and business development, commented in the call to the bank’s shareholders. He commented that the bank’s net interest margin will increase if the bank returns to more stable Bitcoin Trader deposit growth. Probably between $500 million and $1 billion per quarter, according to his forecasts.

As a result, the bank earned about $117 million in the second quarter of 2020. However, that is a significant decrease from $147 million in the second quarter of 2019. After placing a provision for credit losses of $93 million in this last quarter.

Bank of America closes the Ripple Project gap

Copper joins Signet, Signature Bank’s Blockchain payment platform
This integration means that Copper customers, like crypto exchanges, will now be able to use Signet for faster payments and settlement times on US dollar transactions.

With this in mind, Dmitry Tokarev, Copper’s CEO said:

„Previously, the process of payment and settlement of transactions was much more complex.“

He added, „To route fiat currencies, customers had to go to their exchange account, return to Signature Bank, and then return to their exchange account. Now, trust and digital assets can be moved within the Copper platform.

To close, Copper offers multi-signature custody and prime brokerage to its clients. This is provided by Copper’s Walled Garden infrastructure. Primarily, providing customers with access to business facilities without removing digital assets from custody.

I bring as a note the following message from Thomas Jefferson: „Never spend your money before you have it.

Gold gegen Fiat Money gegen Bitcoin

Seitdem wir nicht mehr im Tauschhandel sind, arbeiten zwei Gegenstände als Vermittler: Gold- und Fiat-Geld. Obwohl beide als Transaktionsmedium verwendet wurden, gibt es einen grundlegenden Unterschied zwischen den beiden, der der Regierung zu Gute kommt. Fiat-Gelder werden von den jeweiligen Regierungen ausgegeben und kontrolliert, und Gold gilt als eines der wertvollsten Vermögenswerte der heutigen Zeit, die gegen Inflation sind.

Es ist anzumerken, dass die älteste Kryptowährung, Bitcoin (BTC), immer noch einen großen Teil der gesamten Branche ausmacht

Mit den entwickelten Technologien und der zunehmenden Neugier des Menschen haben wir jedoch in letzter Zeit die Entstehung von Bitcoin Code Kryptowährungen beobachtet, die auf der Blockchain-Technologie basieren. Kryptowährungen ähneln der Fiat-Währung, es gibt jedoch keine Kontrollbehörde, und der Eigentümer hat die vollständige Kontrolle darüber.

In Zeiten, in denen wir über mehrere Investitionsmöglichkeiten verfügen, ist eine Analyse erforderlich, die alle möglichen Dimensionen abdeckt. Hier finden Sie eine Analyse aller drei Transaktionsmedien in Bezug auf bestimmte Merkmale.

Verfügbarkeit
Was die Verfügbarkeit von Gold anbelangt, so ist es als wertvolles Material reichlich verfügbar. Es ist jedoch eines der teuersten Metalle und seine hohen Kosten erleichtern möglicherweise nicht jedem die Lagerung. Aufgrund seiner Schwere benötigt es auch großen materiellen Raum. Fiat-Geld hingegen wird von der Regierung unterstützt. Ihre Verfügbarkeit hängt von der Nachfrage und dem Angebot ab, die von der damaligen Regierung und ihrer Geldpolitik festgelegt werden. Die neueste Finanzquelle, Bitcoin, basiert auf der Blockchain-Technologie und ist ab sofort für das Halten verfügbar.

Sicherheit
Da Gold nur physisch gelagert werden kann , besteht immer ein Sicherheitsrisiko. Das gleiche gilt für fiat money, wenn wir es physisch bei uns aufbewahren. In Zeiten des digitalen Fortschritts wird Fiat-Geld jedoch auch online gespeichert und unter Umständen nicht gestohlen. Hier werden Kryptowährungen zum Gewinner, da sie als dezentraler Online-Reichtum funktionieren. Die meisten Kryptowährungen sind nicht nachvollziehbar und können leicht gehandelt werden. Abgesehen von einigen Fällen von Diebstahl gilt Bitcoin als eine der sichersten Investitionsarten.

Flüchtigkeit

Bitcoin

Alle drei Finanzinstrumente scheinen eine gewisse Volatilität aufzuweisen

Obwohl Gold selten abgewertet wird, können wir Preisschwankungen nicht vollständig ausschließen. Im Falle von Fiat-Geld wird der Wert einer Währung gegenüber einer anderen Währung vom Markt und manchmal von der Regierung bestimmt. Die höchste Volatilität der drei bleibt jedoch Bitcoin. Da es noch im Entstehen begriffen ist, führen ein Anstieg und ein Rückgang der Nachfrage und ein geringes Bewusstsein für die technischen Aspekte zu starken Preisschwankungen bei seinem Wert.

Fälschen
Bei den Fiat-Währungen ist der Umfang der Fälschungsnotizen immer höher. Wir haben gesehen, dass viele große Volkswirtschaften aufgrund des erhöhten Angebots an gefälschten Banknoten mit Hürden konfrontiert sind. Für Gold sind Reinheit und Authentizität schwer und komplex zu bestimmen. Bitcoin bietet hier eine hervorragende Möglichkeit, originäre Finanzinstrumente zu halten. Da alles online und in einem gesicherten privaten Netzwerk erfolgt, gibt es kaum Möglichkeiten, Bitcoin zu fälschen.

Regierungsbehörde
Wie bereits erwähnt, regulieren die lokalen Regierungen durch zahlreiche geldpolitische Instrumente den Markt. Die Regierungen entscheiden über die Liquidität des Marktes und wie viel Geld geliefert werden soll. Auch im Fall von Goldbeständen haben einige Regierungen Leitlinien zur Festsetzung des Schwellenwerts herausgegeben. Wir haben Fälle erlebt, in denen Regierungen Steuern erhoben haben, um den Verbrauch von Gold zu begrenzen. Bitcoin ist jedoch vollständig dezentralisiert. Weder die Regierung noch eine andere Institution hat die Kontrolle darüber, und das ist der Grund für die Beliebtheit von Bitcoin-Spielen im Internet.

Privatsphäre
Fast jede Transaktion, die mit Fiatgeld getätigt wird, wird von der Regierung registriert, und der Wert einer Person in Bezug auf Fiatgeld sollte den Regierungen gemeldet werden, damit diese Steuern erheben können. Es gibt also kein bisschen Privatsphäre im Besitz von Fiat Money. Was Gold betrifft, ist es nicht so öffentlich wie Geld, aber die Regierungen haben eine gewisse Kontrolle über das Eigentum. Die Regierungen haben die großen Goldbesitzer angewiesen, sie als Vermögenswerte zu deklarieren, damit sie der Besteuerung unterliegen können. Bitcoin ist jedoch vollständig privat und hinterlässt keine Drucke für die Rückverfolgung.