Sweden to Become World’s First Cashless Country

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A study by the KTH Royal Institute of Technology in Stockholm shows that Sweden is on track to become the world’s first cashless country. Today, five of six major banks in Sweden are already refusing to operate with cash. As a result, and considering the latest Tax Authority guidelines, Bitcoin has the potential to become a commonly used currency in Sweden. Fully digital People are becoming increasingly accustomed to using bank cards to pay even for the smallest purchases in Sweden with four out of five purchases made electronically. Now, with the increasing penetration of mobile and P2P payment systems, the necessity to use cash is quickly becoming obsolete. Niklas Arvidsson, a researcher in industrial economics and management at KTH, stated: “Cash is still an important means of payment in many countries’ markets, but that no longer applies here in Sweden.” Moreover, the recent launch of mobile payment app Swish from several major Swedish and Danish banks is already revolutionizing the local banking system, says Arvidsson. As a result, several major banks are refusing to accept cash at all. According to Arvidsson, there are less than 80 billion Swedish crowns in circulation (about EUR8 billion) and out of that amount, …

Payeer.com Review

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Payeer offers a multitude of services making it one of the most complete payment systems out there. It can be used to pay for goods and services on websites the world over. Payeer other services include a currency exchange, receipt and transfer of funds across the globe which is quick, secure and completely free of charge using free Payeer electronic transfers. You can transfer funds to anyone across the world, even if the receiver is not a Payeer system account holder. You can send money instantly by using Payeer Transfer for FREE for all over the world. Payeer also offer an exceptionally low charge of only (0.95%) to receive funds. You can send, withdraw or add funds with your Payeer account using: PerfectMoney, EgoPay, STP, PayPal, Bitcoin, Payza, OkPay, Visa, MasterCard, Wire, Liqpay, Visa Qiwi Wallet, Yandex.Money, Webmoney or W1. When it comes to the amount of payment options and services offerd, payeer is hard to beat when compared to many others and really is a very complete option. Benefits: No limitations. All transactions are final and nondisputable. The fee for transactions between Payeer accounts is 0%. Yes, it’s free! Exchange money between many different payment systems like PayPal, Payza, …

Bullshit Research from Suffolk University : Federal Reserve Needs Power Over Bitcoin – Bull

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The Federal Reserve and European Central Bank should be given a mandate to monitor threats bitcoin and digital currency systems pose to the broader financial system, a new report from a Suffolk University researcher argues. Entitled “$=€=Bitcoin?”, the report speculates as to the potential dangers that the more widespread use of bitcoin as a digital money with no government backing, analyzing how circumstances arise where this threatens national and international economies. The paper follows a February 2014 statement from Federal Reserve chairwoman Janet Yellen, who said that the US central bank does not have the authority to regulate digital currencies. Further, the European Central Bank published a report last year that, while largely dismissive the technology, indicated the bank is monitoring developments. More broadly, the report argues that the mandate is necessary given that the general population is not aware of central bank boundaries, meaning the central bank could “bear responsibility” for a systemic crash should it affect either or both markets. The report reads: “Even if the central bank had no mandate to regulate virtual currencies, a failure of a widely-used virtual currency could imperil confidence in the central bank, which could adversely affect its ability to govern the more traditional money …

Bitcoin Lending Platform Bitbond Rakes in 600K Euro Investment

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Global Bitcoin P2P lending platform Bitbond has raised 600,000 euros in second tranche of angel funding. The platform’s total funding for the round has now reached 800,000 euros. The prominent angel investors this time included Florian Heinemann and Uwe Horstmann (Project A), Christian Vollmann (early investor in ResearchGate), and Felix Jahn (co-founder of Home24). Bitbond will utilize the funding to expand its customer base and make a highly pronounced impact on emerging markets. Bitbond, which was introduced in 2013, has processed over 600 loans with the number of registered customers touching 10,000 from over 120 countries. Radoslav Albrecht, founder & CEO of Bitbond said: “The additional resources will help us to continue realizing our mission which is to make lending and borrowing globally accessible. We are happy to have such experienced investors supporting us on this exciting journey.” On the development, angel investor Christian Vollmann commented that, “Currently over 50% of small businesses are underserved by banks and don’t have access to credit. Bitbond provides a technological solution to this problem. It’s great to see such an innovative approach being developed in the Berlin startup scene.” The International Finance Corporation of the World Bank estimates that the global credit gap …

Wedbush Report Projects $400 Bitcoin Price By 2016

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The price of bitcoin can be expected to rise to $400 over the next 12 months, according to a new report by Wedbush Securities. Authored by Gil Luria and Aaron Turner, the report begins with the goal of forecasting the future value of shares in the Bitcoin Investment Trust (GBTC), the first publicly traded bitcoin fund launched in March, ultimately concluding it will outperform its current $30.60 price to rise to $40 next year. In its calculations, however, Wedbush expands on its approach to valuing bitcoin based on its expected penetration of large target markets. The bitcoin payments network, it suggests, could end up powering 10% of online payments and 20% of global remittances by 2025 The report reads: “By aggregating the utilization of the various applications, we arrive at our $400 BTC price target, which translates to $40 per share of GBTC. This implies [roughly] $6bn market capitalization, which we would also describe an option on bitcoin supplanting some payment volumes from Visa, MasterCard, PayPal and Western Union, who combine for [less than] $300bn in market cap.” Wedbush indicated it sees bitcoin demand stemming from its increasing use in e-commerce payments, remittances and micropayments due to its ability to reduce costs …

A Quick Review Of BTCLend A Peer-To-Peer Bitcoin Lending Network

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Don’t get caught in a jam While I have never been a big believer in loans in my life, crypto currency technologies have greatly changed my view on that subject this year when a new upstart launched in San Pedro California on January 17th  2015. BTCLend has a very solid platform with a familiar and simple to follow GUI that many crypto users may be familiar with if you have used BTCJam. After that, all the similarities drop off fast. BTCLend is banking on features that have already proven successful for others while at the same time developing potential features that many have asked for in the crypto currency lending space.   You Can Sign up Here Now and Create your BTCLend Wallet!   Signing up with BTCLend is straightforward, it is very much like opening a bank account and you will need to become verified at higher levels to gain a higher credit worthiness rating. After two months of operations BTCLend Currently has 71 open loan listings with a total of  ฿ 60.59855 in total funded loans to date. While BTCLend has been successful at creating an alternative to BTCJam for the crypto world. They have also learned from …