Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Binance: Scorned Crypto Project Could Do for Payments What Elon Musk Did for Space

by Daily Hodl Staff
April 28, 2020
in Blockchain
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎

While Facebook-backed Libra continues to face hurdles as it attempts to introduce a new global payment system and financial infrastructure, a new report from Binance Research says the crypto project could be a game changer for the payments industry just as SpaceX has transformed the space travel industry.

In June of 2019, Facebook announced plans to launch Libra, a digital currency that will be overseen by the Libra Association, a Swiss-based consortium of independent members. The platform is designed to enable millions of people around the world to make financial transactions online, but the project is stymied by regulatory issues.

ADVERTISEMENT

The Binance report, dated April 22, cites challenges endured by Elon Musk’s spaceflight company that are reminiscent of the pushback against Libra’s. Musk also saw high-entry barriers during his initial foray into an industry dominated by public market players, but SpaceX offered innovative and cost-saving technologies that eventually transformed space travel.

Libra’s proposed global system promises to change the payment industry in a similar manner by addressing the limitations of central banks.

According to the report,

“It is important to note that there are very few payment systems, and most of them are operated by a central bank and of only regional scope. Libra could thus do to payment systems, what SpaceX did to the space industry … shake the foundations of a well-established sector with high entry barriers. The mere advantage of issuing widely-available programmable money would already initiate manifold efficiency gains.”

Conceptualized overview of transaction types in Libra
Source: Binance Research

A Binance Research representative tells Cointelegraph that while new online money transfer services such as Transferwise offer some payment innovations, they come short of what Libra can offer.

“If Libra was to launch it would be Transferwise on steroids that caters to a large retail and business audience and could thus start a new wave of innovation and fundamentally change the current payments landscape.”

The report adds that Libra can have an impact on financial inclusion if it opens access to third parties and adopts a user-friendly interface.



Check Latest News Headlines


ADVERTISEMENT


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/sdecoret

Submit a Press Release

Crypto Livewire – Press Releases

  • First Charity Project Using NFT: All Profits From Sales of Content Produced by Miss Bitcoin To Be Donated
    April 15, 2021
  • MakiSwap Raises $1.4M From Leading Investors to Build AMM Platform on Huobi Eco Chain
    April 14, 2021
  • DigitalBits To Become Premier Choice for NFTs After Litemint Partnership
    April 13, 2021
  • Ethernity Chain Launches Authenticated NFT Marketplace to Curtail Fraud
    April 13, 2021
  • ConsenSys-Backed Virtue Poker Raises $5 Million Strategic Round
    April 12, 2021
  • Cometh Partners With Alchemix for “Wizards” Collection of Yield-Generating NFTs
    April 9, 2021
  • eToro Appoints Dr. Hedva Ber, Israel’s Former Banking Supervisor, As Deputy CEO and Global COO
    April 8, 2021
Submit a Guest Post
ADVERTISEMENT
ADVERTISEMENT
Bitcoin
$57,264.00
$57,264.00
7.06%
Ethereum
$2,246.52
$2,246.52
9.22%
Binance Coin
$525.43
$525.43
21.35%
XRP
$1.41
$1.41
18.37%
Polkadot
$36.43
$36.43
5.02%
Cardano
$1.26
$1.26
10.31%

Spotlight

  • Five Crypto Platforms Will Increasingly Grab Market Share From Ethereum, Says Trader Lark Davis
    April 16, 2021
  • These Three Overlooked Altcoins Are Set To Erupt, According to Top Analyst
    April 13, 2021
  • Dogecoin Far From Done, Says Top Analyst – Here’s How High It Could Go
    April 17, 2021
  • Time Magazine Catches Crypto Bug – Here’s What the Publishing Giant Is Planning
    April 14, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2021 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
  • DAILY HODL MIX

© 2020 The Daily Hodl

×