In a webinar held on June 24 by the Digital Chamber of Commerce, leading figures from the cryptomint community spoke about the growing role of stablecoins.

The long-term vision of the stablecoins
One of the guests was JeremyAllaire, the founder of Circle, who is behind the USDC stabelcoin, which is backed by the US dollar. On the subject of stablecoins and how they simplify payments around the world, Allaire compared possible updates to many relatively recent developments that we take for granted:

„We’ll look back the same way we do when we look at long distance calls, postal mail or catalog sales, and we’ll look at payments and not believe that we ever had to pay to send money.“

Walter Hessert of Paxos, whose gold-backed stablecoin is heavily involved in cross-border deals, said stablecoins will change the game for securities trading: „Will stablecoins in the long run play a role in tokenization and securities settlement? Absolutely.“

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The Digital Dollar Foundation is a group of experts working to move toward an official digital currency of the U.S. central bank. One of the founders of this group, Daniel Gorfine, said during today’s webinar that there was no reason not to move forward with such a CBDC:

„Even if you’re skeptical, why don’t you plan for the possibility that this could happen? And knowing that you can’t just flip a switch in five years, why not start now?

The changing idea about the dollar

Today’s webinar comes on the heels of accelerated talks on the digitization of the national currency, globally and especially in the United States.

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However, an official CBDC would be far from the first stablecoin backed by the US dollar. Allaire noted that the idea is obviously attractive because „use cases are so broad, they are ultimately like use cases for money. So what could you do with a dollar? That’s digital.“

Hessert also pointed out that fiduciary dollars are a privileged area for accelerating global transactions, given their massive international use, noting that: „Today, dollars are really critical in allowing this to happen. They are on the side of approximately 80% of transactions worldwide.“

Three new Bitcoin (BTC) metrics are pointing high even though the $10,000 is out of reach for the BTC/USD pair this week.

As revealed by Timothy Peterson of asset manager Cane Island Alternative Advisors, as of May 21, the leading cryptomoney is still firmly up on the three metrics he personally uses.

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200-day moving average, Metcalfe and the lowest price in the future
„I track 3 metrics of #bitcoin: Metcalfe’s value, lowest price in the future, and 200-day moving average,“ he wrote on Twitter.

April 29 was only the fourth time in history that they converged. The previous three were followed by a substantial upward trend in price.

Tracking the basket several years back, the earlier convergence occurred just before the Bitcoin bull run that began in April 2019.

As Cointelegraph reported, the 200-day moving average has often played a role in determining the long-term support and resistance levels for the price. It currently stands at $8,000.

Bitcoin’s Metcalfe value is a more complex quantum calculation, something about which Peterson wrote a dedicated guide because of its implications.

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„Bitcoin’s pricing provides a transparent look at Metcalfe’s law at work,“ he summed up at the time.

Meanwhile, the lower forward price, formerly known as „never look back,“ predicts a minimum value for BTC/USD at a given date. In April, Peterson noted that the value for December 31, 2020, was $10,400, identical to Metcalfe’s reading.

Everything goes according to PlanB
Quantitative analysts have rejected suggestions that Bitcoin is being affected by the third halving earlier this month.

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The drop in prices occurred days before the event, followed by a recovery and then a less substantial decline throughout this week.

Despite this, the price of Immediate Edge 5 new crypto – Bitcoin Billionaire i’ve sent the funds – digital currency group Bitcoin Profit – ethereum withdrawal fee Bitcoin Evolution – how to transfer ethereum from Bitcoin Trader to binance – how safe and secure is Bitcoin Revolution – how safe is Bitcoin Era wallet – transfer from gdax to Bitcoin Code – follow traders The News Spy – Bitcoin Circuit 2 step verification code is still within the range of the stock-to-flow price model, perhaps the best known quantum tool among regular Bitcoiners.

PlanB, its creator, has shown that a price of $288,000 after halving is not unrealistic, and even doubling is a possibility over the four years to the next halving.

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The idea that the blockchain could digitize paper-heavy processes was also raised by Vignesh Raja, a private equity specialist at Viktor Koenig LLC.

Raja presented a proof-of-concept of the Singapore start-up DXmarket. The concept is still under development and is intended to help physical goods merchants, such as antiques merchants, digitize their illiquid assets and thus better connect to larger recycling exchanges, such as DMCC.

„Illiquid assets are not easy to secure and manage,“ Raja said.

„With the blockchain, we want to create new digital assets and use tokens to digitize assets [and] smart contracts to improve trading efficiency.

Raja said automatic certification and ownership transfer would make the recyclables market more robust. At the same time, the principles of Islamic finance would be respected, as tokens could be covered by values in the real world.

Business registration of Bitcoin loophole

Ola Doudin, CEO at BitOasis, presented this pilot project in partnership with the DMCC to improve Bitcoin loophole internal processes. Since its first announcement by onlinebetrug, it has been trying to find ways for companies to easily participate in the DMCC trading system. This is to be made possible by customized identification evidence as part of the Flexi Desk program.

„When you go to the bank and open an account, you have to take copies of your papers with you and go through an insane process that makes all your efforts harder and harder,“ she said.

„Now it only takes a few minutes and a few clicks on the blockchain and you have the documents certified and signed by the owner.

Doudin said that the project is currently in a demonstration phase and that her start-up is looking for banks, telecom operators, free zones and other potential business partners to continue the proof-of-concept.

This announcement follows news from last week that BitOasis led an undisclosed financing round supported by Wamda Capital and payment service provider PayFort.

Digital Testament

Pinaki Aich, Vice President of Strategy at the Dubai International Financial Centre (DIFC), a government-administered free trade zone, presented an idea that will improve the transfer of corporate property.

The majority of companies in the MENA region are family businesses. For the GCC, this accounts for 98% of their businesses. Aich said that 75% of family businesses fail if their management is transferred to the next generation.

„Only within the MENA [and South Asia] region do we have $1 trillion in value exchanges between one generation and the next,“ he said while describing the severity of the upcoming problem.

With regard to these facts, Aich sees that blockchain-based wills and contracts can help overcome these problems for MENA companies and those founded by emigrants. The business could thus pass from one generation to the next, while complying with local regulations.

The project was developed in collaboration with DigitUs, a blockchain app and service specialist.

Tourism
Blockchain Startup and GC member Loyyal (formerly Ribbit.me) presented a concept how technology can help promote tourism in the region by enabling visitors to collect loyalty points more easily and quickly.

The loyalty points called Dubai Points are the pilot project for the blockchain-based program and are designed to boost tourism according to the goals of the Dubai Future Foundation.

„What if I was given the incentive to visit certain places and earn points,“ asked Loyyal CEO Geg Simon. „Dubai is ranked 4th among the most visited cities in the world, you can make a game out of this experience. Points could be redeemed at places I want to see, no matter where I got those points before“.

Simon sees smart contracts as an important factor that will enable companies to communicate programs with each other. This way, points can be awarded for a photo taken at a certain location, and these programs can also determine how (loyalty) points can be exchanged between each other.

The Proof-Of-Concept is currently being developed by Loyyal and its regional partners „du“, Jumeirah, Flyin, Privity, International Culinary Centre for Culinary Arts Dubai, SquareCircle Tech and DigitUs. Together they develop an app for the concept.

7. improved shipping
As a late encore to the audience, Iqbal Alikhan, Strategy and Development Executive at IBM, spoke. He gave a small oversic