Several customers' demand for a variety of contactless payment alternatives is triggering unprecedented growth. As per the new findings, the number of smart point-of-sale terminals is heading for a massive growth in the coming few years since retailers and consumers are increasingly embracing and adopting the financial and payment technology.
There has been a significant increase in the use of digital currencies ever since Covid-19 pandemic started. However, scammers have taken advantage of the pandemic to scam cryptocurrency users, investors and other innocent people. Last week alone, an investor in the UK lost more than $283,200 through a cryptocurrency scam.
The outbreak of COVID-19 has led to a significant decline in economic growth. The recent economic challenge is associated with inflation that was triggered by governments printing more money to offset the negative impacts of the pandemic. Probably, this is the reason for such striking interest in the crypto market as it is inflation-friendly.
The first week of June saw the entire cryptocurrency market register bullish gains. The crypto market cap opened the week at $1.435 trillion and is now at $1.631 trillion which shows a gain of about 14%.
As the use of cryptocurrency is becoming mainstream globally especially in this Covid-19 pandemic era, scammers have found it as the easiest way of making free money. Scammers have managed to steal more than $80 million from cryptocurrency investors in just 6 months.
According to the new research by MasterCard, it has been found that the use of digital payment technologies including mobile money (MoMo), Bitcoin and other cryptocurrencies have boosted especially during the Covid-19 pandemic.
Since the outbreak of the coronavirus in its central city of Wuhan, China became a target of blame by the world. While Beijing hosts the 2022 Winter Olympic Games next February, it is doubted that many will visit the Asian country. This puts the plan to present the digital yuan to the world at stake.
The E-Commerce Industry has seen tremendous growth in the past years. Despite the COVID-19 outbreak that was believed to bring the sector to its knees, many businesses and customers have shifted towards e-commerce, resulting in the exponential growth of a digital ecosystem. This emerging growth in the industry is expected to accommodate the need of millions and millions of users to buy and sell seamlessly over online platforms.