Regardless of the transformation cryptocurrency has introduced in the payment and transaction industry, digital assets are still facing resistance in some countries. A good number of governments have shown concerns of cryptocurrency threatening their traditional fiat currency, finance and economy.
Slovenia's Finance Ministry plans to tax transactions on exchanging fiat money into cryptocurrencies. To ensure that the new framework does not impact the economy, the authority is seeking feedback from the local community before actually implementing it.
eCommerce is one of the most rapidly expanding sectors within the global economy with a forecasted growth of 25% CAGR over the next five years. The desired sub-industry in the sector is hyperlocal last mile delivery. This is essentially localized home delivery in less than 60 minutes.
The DeFi space is evolving rapidly and both existing, as well as upcoming players, need to continuously innovate to survive. Flare Finance, the first DeFi platform on the Flare Network might have gained a unique competitive advantage with its latest announcement.
Decentralised Finance (DeFi) saw exponential growth in 2020 and 2021 promises to be yet another defining year. What’s particularly exciting is how DeFi has coincided with broader trends in banking and the rise of fintech 2.0 and neobanks.
General digitization has brought most of the world's population online. Most operations from virtually all walks of life, including payments, are going digital. Therefore, wallets have also gone digital. Storing money in a pocket is a relic of the past.
The issue of central bank digital currency (CBDC) is becoming a hot topic of discussion among several governments. Now, the government of South Korea is seeking better technologies that can effectively lead to the creation of their state-owned CBDC dubbed e-KRW.