“Is Cash Still A King?” A US Hearing is Trying To Reconcile Fiat to Digital Currencies

Must Read

Binance Releases Cloud Service As a Support Infrastructure To New Exchange Platforms

Binance has announced the release of its new lucrative Cloud Service model that provides infrastructure and liquidity support. ...

ABBC Coin Price surged By 28% Following Bittrex Listing

ABBC Foundation announced in its twitter platform that it is now available on Bittrex with the pair of...

Blockchain Technology Has Evolved And Can Provide Endless Solutions

Most people use blockchain and cryptocurrencies as interchangeable terms. And although one could not exist without the other, they...
5d85c99dd353c-bpfull
Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic
  • A recently held US hearing made on January 30th mainly focused on mobile payments, virtual currencies, and Blockchain
  • Many representatives and individuals agreed commonly to the integration of Blockchain technology and cryptocurrency for payment processing on a daily basis.
  • Tom Emmer also supported this move and also stated to draft a new bill to regulate the usage of cryptocurrency and implementation of Blockchain technology.

A recently held US hearing made on January 30th mainly focused on mobile payments, virtual currencies, and Blockchain were discussed to foresee its impact on the economy. The tile of the hearing was, “Is Cash Still a King?” was the centre of the topic.

Many representatives of domestic and international companies had attended the conference; it included representatives of councils and companies, advocate groups, financial and promotional groups discussing the future of payment method over the traditionally practised ones.

Representatives Supporting Cryptocurrency

Many of the representatives and individuals agreed commonly to the integration of Blockchain technology and cryptocurrency for payment processing on a daily basis. One of the members of a Financial Technology group Tom Emmer also supported this move and also stated to draft a new bill to regulate the usage of cryptocurrency and implementation of Blockchain technology.

The main topic of this hearing was to implement a safer and effective method to do transaction than replace the traditional currency notes to digital coins upon which mobile payments was the solution to the above implementation.

The Conclusion

With the United States being in the setbacks of not able to make mobile payments and larger time requirements to make a transaction has raised this subject. There are strict rules enclosed in traditional banking in the States. The hearing discussed the implementation of efficient technologies in Europe and China. The digitalized and regulated mode of payments in China integrated with Alibaba group has paved a new path for smooth transactions.

The final point of discussion was based on the entirely new and efficient technology, Blockchain, which can be introduced in the banking and non-banking sectors to ease out the transaction process.

The use of cryptocurrency is an opportunity to build personal finance and the future, along with the ability to manage their assets. The top private companies have already started to realize the power of Blockchain and secure cryptocurrency and digital assets. The proceeding ended with saying that it is high time to adapt to the emerging technologies for smooth and efficient advancements.

Hot News

Binance Releases Cloud Service As a Support Infrastructure To New Exchange Platforms

Binance has announced the release of its new lucrative Cloud Service model that provides infrastructure and liquidity support. Binance shares its set of...

ABBC Coin Price surged By 28% Following Bittrex Listing

ABBC Foundation announced in its twitter platform that it is now available on Bittrex with the pair of ABBC/BTC. ABBC coin users can...

Blockchain Technology Has Evolved And Can Provide Endless Solutions

Most people use blockchain and cryptocurrencies as interchangeable terms. And although one could not exist without the other, they are at their essence two...

Binance Futures Is The Newest Exchange Platform In The Crypto Market

Binance offers over 100 spot markets and more than 20 perpetual futures markets, which is beneficial for traders, miners and hedge placements. Binance...

Alchemy Integrates Binance Into Their Payments Service; Starting Trial Run In Singapore

Alchemy has announced the integration of Binance into its global payments service and has initiated a trial phase in Singapore. Alchemy’s potential to...

Japanese Secretariat Looking Into CBDCs And Blockchain Technology For The Nation

Yuzo Kano announced on Twitter that he was invited on an expert panel at a “Second Liaison Meeting with Blockchain Agencies” that was...

ABBC Coin Price surged By 28% Following Bittrex Listing

ABBC Foundation announced in its twitter platform that it is now available on Bittrex with the pair of ABBC/BTC. ABBC coin users can...

Blockchain Technology Has Evolved And Can Provide Endless Solutions

Most people use blockchain and cryptocurrencies as interchangeable terms. And although one could not exist without the other, they are at their essence two...

Binance Futures Is The Newest Exchange Platform In The Crypto Market

Binance offers over 100 spot markets and more than 20 perpetual futures markets, which is beneficial for traders, miners and hedge placements. Binance...

Alchemy Integrates Binance Into Their Payments Service; Starting Trial Run In Singapore

Alchemy has announced the integration of Binance into its global payments service and has initiated a trial phase in Singapore. Alchemy’s potential to...

RELATED NEWS

Binance Releases Cloud Service As a Support Infrastructure To...

Binance has announced the release of its new lucrative Cloud Service model that...

ABBC Coin Price surged By 28% Following Bittrex Listing

ABBC Foundation announced in its twitter platform that it is now available on...

Blockchain Technology Has Evolved And Can Provide Endless Solutions

Most people use blockchain and cryptocurrencies as interchangeable terms. And although one could not...