Dear visitors, all those willing to explore the industry of cryptocurrency and succeed in it with Evercode Lab! Here is our regular post dedicated to the most important events and trends taking place in the domain of digital assets. As usual, we cite the news we find valuable and informative to comment on them and provide our company perspectives.
Another developing nation tends to adopt BTC to deal with economic problems and numerous consequences of the COVID-19 pandemic. According to mass media, Laos has decided to practice a new softer approach to cryptocurrencies. Within a new legal framework, the government of this country “has legalized cryptocurrency mining and trading activities”.
The scale of this legalization is limited. Only four digital assets are viewed as appropriate: Bitcoin, Litecoin, and Ethereum. On top of that, only six companies and one bank are authorized to experiment with these digital currencies.
At the same time, the first step is usually the most important one. And if this policy proves itself as successful in terms of “generating alternative sources of revenue” to compensate for problems caused by COVID-19, then we may expect further initiatives.
That is to say, we hope to deliver some great IT projects with some customers from Laos!
PayPal continues to act as a crypto-friendly company. Last week, we cited its recent British initiative. This news is even more far-reaching! The well-known giant operating not only as an e-payment solution but also as an entire eCommerce ecosystem announced a promising initiative.
PayPal is planning to release “a new app billed to be a one-stop-shop for all of the digital payment needs of the company’s customers”. In addition to non-crypto use cases, this application will also feature crypto-functionalities, enabling end-users to “manage cryptocurrency payments and high yield savings”.
We at Evercode Lab are always happy to see such news. Normally, we cooperate with SMEs and startups, not giants. That is why this news does not pertain directly to us. On the other hand, when such stable and big companies opt for crypto, it is a positive factor for all of us!
That is another good news of a similar kind! The world of traditional finances embraces cryptocurrencies within one more business case. Robinhood, a popular provider of financial services, admits that its trading platform is going to add a crypto wallet functionality. As a result, its end-users will be enabled to “move crypto in and out of the app”.
Cryptocurrencies and blockchain technologies revolutionize the world around us. Betting, gambling, and iGaming are no exceptions. While crypto casinos allowing users to play games of chance with digital assets are already popular, something totally new seems to be approaching.
Namely, DefiXBet announces its intention to launch a “decentralized casino platform with decentralized finance features” very soon. As a result, fans of gambling activities will be able to enjoy their hobby in the “cleanest, transparent, anonymous, and most secure” fashion coupled with advanced DeFi features.
In this respect, the Evecode Lab team will be happy to cooperate with iGaming companies willing to integrate crypto assets into their core business. As you can see, the trend is clearly upward, so do not hesitate to contact us!
Finally, this week is ending with an interesting episode of the rivalry between BTC and its main competitor, i.e. Ethereum. JPMorgan has recently informed the world that institutional investors tend to prefer “Ethereum derivatives” over “Bitcoin futures”. This development reflects “weak demand by institutional investors that tend to use regulated CME futures contracts to gain exposure to Bitcoin”.
Everything is changing rapidly in the crypto industry. And no one can be sure which digital asset will ultimately serve as No 1 for institutional investors. Whatever happens, the Evercode Lab is 100% ready to work on solutions based on both BTC, Ethereum, you any other popular crypto asset you name.