The Future of Crypto Mining is All About Computing Power, Says RRMine Global CEO

RRMine Global CEO, Steve Tsou, said at a Cointelegraph China Great Bay Area International Blockchain Week pre-event interview on July 29 that the future of crypto mining will transit from labor-intensive companies to technology-intensive and capital-intensive companies. It will be all about computing power. Computer power and the digital economy With the rapid development of new generation information technologies such as 5G, big data and cloud computing, the demand for computing power will likely increase. Tsou believes that a computing power revolution is imperative. He continued:  “Therefore, as a new…

Mainstream People Coming to Bitcoin, Digital Assets Data CEO Says

Mike Alfred, CEO of analytics firm Digital Assets Data, described increased Bitcoin (BTC) enthusiasm from the public amid flying prices. “We are seeing more signs of increased institutional interest,” Alfred told Cointelegraph of Bitcoin on July 28 — the day after bitcoin rose more than $1,000 in a 24-hour period. Bitcoin broke upward Crypto’s pioneer asset had a standout day on July 27, rising from $9,930 to $11,400 within a single daily price candle, according to TradingView.com data. “Volume was strong on Bakkt and CME yesterday,” Alfred said on July…

Crypto Usage and Trading Surging in Africa, Exchange CEO Says

Crypto usage and trading has made its way over to Africa, gaining prevalence all over the continent, according to Chris Maurice, CEO of Yellow Card — a crypto exchange based in Lagos, Nigeria. “In terms of the crypto scene and everything, things are growing very rapidly, really across the continent, but specifically in Nigeria, South Africa, Ghana, and Kenya,” Maurice told Cointelegraph in an interview.  With the four mentioned countries leading the crypto charge, Maurice added, “At this point, it’s just a matter of time before it continues to expand…

Gemini CEO on How the Federal Reserve Will Boost Bitcoin’s Next Bull Run

Bitcoin’s fundamental case continues to strengthen as developments regarding the next stimulus bill continue. Industry executives believe that this could act as a catalyst for this market moving forward. This comes as BTC has begun to inch higher after weeks of consolidation. As of this article’s writing, Bitcoin trades for $9,500 — the highest price in weeks. Related Reading: Crypto Tidbits: Twitter’s “Bitcoin Scam,” Elon Musk & Dogecoin, Institutions Want BTC & ETH How the Federal Reserve Could Boost Bitcoin Higher Despite attempts to reopen society, the U.S. is far from…

On-Chain Bitcoin Scaling En Masse Requires Bigger Blocks, Abra CEO Says

Bill Barhydt, CEO and founder of the Abra digital finance wallet and exchange app, said he sees Bitcoin’s (BTC) blockchain struggling when it comes to on-chain mass adoption of the asset as a store of value, given the asset’s current technology.  “Bitcoin can certainly scale ‘off-chain’ today via third-party custodians such as exchanges and wallets like Abra or other so-called second-layer technologies such as Lightning,” Barhydt told Cointelegraph on July 15.   He added: “When held in that manner Bitcoin’s scalability is probably limitless. However, Bitcoin doesn’t yet have the scalability…

Abra Building Banking Solutions on Stellar Blockchain, CEO Barhydt Says

Abra, the company behind the global crypto and fiat wallet and exchange app of the same name, plans to give the world banking services underpinned by Stellar’s blockchain — one of the results of the SDF’s $5 million investment in Abra earlier in 2020.  During the SDF’s digital second quarter review meeting on July 15, Abra CEO Bill Barhydt mentioned Abra’s focus on upcoming banking-type features the company is building out. In particular, Barhydt noted an “interest-earning capability” expected to hit the market in the coming weeks.  Abra details upcoming…

Abra CEO Agrees With Bitcoin’s Role as Digital Gold

After changing roles several times since its 2009 launch, the current line on Bitcoin (BTC) calls it a store of value comparable to gold — a status with which Abra CEO Bill Barhydt agrees.  “Today Bitcoin is best used as a store of value that will become more and more uncorrelated to traditional investing markets over time,” Barhydt told Cointelegraph.  Bitcoin’s role transformation since inception Following Bitcoin’s on-chain beginnings in 2009, the asset traversed a staggering price growth journey, going from less than $1 all the way up to nearly…

Cypherium CEO Predicts CBDC Cross-Border Payments ‘Soon’

Sky Guo, founder of the Cypherium blockchain, predicts that central bank digital currency cross-border payments will happen “in the next couple years” or “even sooner”.  In an interview with Cointelegraph on July 13, Guo said that CBDC development among central banks makes it likely that certain countries in European Union, China and America, will take the lead and experiment with cross-border payments sooner than expected.  CBDC cross border challenges  Countries around the world are experimenting with CBDC pilots domestically, such as ride-sharing giant Didi signing “a strategic partnership” with the…

Dogecoin Is ‘Not a Joke,’ Says OKEx CEO Jay Hao

Jay Hao — CEO of major crypto exchange OKEx — made positive remarks about meme cryptocurrency Dogecoin (DOGE). When answering Cointelegraph’s recent inquiry concerning new Dogecoin-related OKEx features, Hao made it clear that he has a rather positive view of the cryptocurrency. He said: “Despite showing the lighter side of cryptocurrency, it is not a joke and has shown healthy development and longevity.” Hao explained that Dogecoin, which was born of a Litecoin (LTC) fork in 2013, is one of the oldest cryptocurrencies. He also said the way DOGE is…

Coinbase CEO Defends Licensing of Analytics Platform to Gov’t Agencies

Coinbase defended the licensing of its analytics software saying if people really wanted privacy, privacy coins were around. Coinbase CEO Brian Armstrong took to Twitter to talk about Coinbase Analytics and the company’s practice of licensing out the platform, explaining why crypto exchanges must have some sort of analytics software to comply with banking regulations. “Exchanges that maintain connections into the existing financial system (i.e. ability to connect your bank account, do wires, etc so you can convert fiat to crypto) need to follow AML laws, and this often includes…