Binance plans to issue Venus! How is it different from Facebook’s Libra?

What is Venus, the virtual currency of Binance? The project has not yet been technically backed up in the investigation phase and Binance is currently …

Binance, the world’s largest cryptocurrency exchange, has announced plans to issue a table coin called Venus. The project will be a stable coin that is linked to international legal currencies such as the US dollar and the Pound, although each country issues Venus based on its own currency. In that sense, it’s very similar to Libra, which Facebook has announced and discussed.

What is Venus, the virtual currency of Binance? The project has not yet been technically backed up in the investigation phase and Binance is currently looking for a development partner. If Libra is to aim for “global reach,” Venus intends to be localized and localized.

There are many similarities even though the expression is different. On August 19, 2019, the company said, “Binance is seeking to build new alliances and alliances with governments, general companies, technology companies, and other virtual currency companies.

The project will be involved in a larger blockchain ecosystem and will empower developed and developing countries to promote the spread of new currencies.”

Competition with Libra is not intended? Changpeng Zhao, Chief Executive Officer of Changpeng Zhao, Bainance, said in a statement that the project was not intended to compete with Facebook’s virtual currency Libra. The project is scheduled to be ported on to binance chain, which has just started in April 2019.

The Binance Chain has already ported the Binans Coin (BNB).

In addition, there are two types of stable coins on the Binance chain: BTCB linked to Bitcoin (BTC) and BGBP linked to the British pound.

At the start of this project, Binance will provide partners with full technical support, a compliance risk management system, a multi-dimensional cooperative network for building Venus, and regulatory requirements.

Stretable coins like Venus bring new digital economy Venus, like Libra, is intended to revolutionize the traditional financial system, which refuses to accept poor people who do not have bank accounts that use legal currency. Yi He, the co-founder of Bainance, said, “We are in the near future and in the long term as a momentum for stable coins to replace traditional legal currencies around the world.

We believe that it will bring new stable digital economic standards.” Earlier this month, Walmart, the world’s largest supermarket chain, also plans to enter the same market as Facebook and Vinance. It has been reported that a patent for a stable coin linked to us dollars has been filed.

About Post Author

Miu Lin

Miu is a journalism major and has been writing as a business journalist for various dailies before joining OBN. She currently writes about blockchain, cryptocurrencies and business news.

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MinexCoin Trading Down 8.6% Over Last 7 Days (MNX)

MinexCoin can be bought or sold on the following cryptocurrency exchanges: Livecoin, Exmo, HitBTC and CoinExchange. It is usually not possible to …

MinexCoin logoMinexCoin (CURRENCY:MNX) traded 2.5% lower against the US dollar during the 1 day period ending at 8:00 AM E.T. on August 27th. In the last seven days, MinexCoin has traded 8.6% lower against the US dollar. One MinexCoin coin can now be purchased for $0.15 or 0.00001511 BTC on major exchanges including HitBTC, Livecoin, Exmo and CoinExchange. MinexCoin has a market capitalization of $881,135.00 and $236,571.00 worth of MinexCoin was traded on exchanges in the last 24 hours.

Here is how related cryptocurrencies have performed in the last 24 hours:

  • XRP (XRP) traded down 1.3% against the dollar and now trades at $0.27 or 0.00002640 BTC.
  • Tether (USDT) traded 0.2% lower against the dollar and now trades at $1.00 or 0.00009880 BTC.
  • Binance Coin (BNB) traded down 4.3% against the dollar and now trades at $25.28 or 0.00250249 BTC.
  • Bitcoin SV (BSV) traded 3.8% lower against the dollar and now trades at $129.20 or 0.01278847 BTC.
  • Stellar (XLM) traded down 2.9% against the dollar and now trades at $0.0687 or 0.00000680 BTC.
  • TRON (TRX) traded down 2% against the dollar and now trades at $0.0174 or 0.00000172 BTC.
  • Chainlink (LINK) traded 2.1% lower against the dollar and now trades at $2.08 or 0.00020546 BTC.
  • IOTA (MIOTA) traded 2.6% lower against the dollar and now trades at $0.26 or 0.00002563 BTC.
  • NEO (NEO) traded down 3.1% against the dollar and now trades at $9.54 or 0.00094468 BTC.
  • COZ (COZ) traded 26.7% higher against the dollar and now trades at $0.22 or 0.00004541 BTC.

MinexCoin Coin Profile

MinexCoin (MNX) is a coin. Its launch date was March 29th, 2017. MinexCoin’s total supply is 6,394,520 coins and its circulating supply is 5,770,161 coins. The official website for MinexCoin is minexcoin.com. The Reddit community for MinexCoin is /r/Minexcoin and the currency’s Github account can be viewed here. MinexCoin’s official Twitter account is @minexcoin and its Facebook page is accessible here.

MinexCoin Coin Trading

MinexCoin can be bought or sold on the following cryptocurrency exchanges: Livecoin, Exmo, HitBTC and CoinExchange. It is usually not possible to buy alternative cryptocurrencies such as MinexCoin directly using US dollars. Investors seeking to trade MinexCoin should first buy Bitcoin or Ethereum using an exchange that deals in US dollars such as GDAX, Coinbase or Changelly. Investors can then use their newly-acquired Bitcoin or Ethereum to buy MinexCoin using one of the exchanges listed above.

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Digital Coins Market 2019 – Bitcoins, Ethereum, Ripple, Litecoin, Dogecoin, Dash, Factom …

The Digital Coins market reports give the point to point data about the market players (Bitcoins, Ethereum, Ripple, Litecoin, Dogecoin, Dash, Factom, …

The Digital Coins market report offers a brief perspective by the information identified with the Digital Coins. The Digital Coins market report states an exclusive platform offering different open ways for various affiliations, firms, and new associations. This report contains an introduction to build up the methodology by struggling amidst adversaries and give better associations with the clients. The Digital Coins market reports give the point to point data about the market players (Bitcoins, Ethereum, Ripple, Litecoin, Dogecoin, Dash, Factom, MaidSafeCoin, Peercoin, Novacoin, Namecoin), close to the present affiliations that hold a principal thought in the market concerning the business, income, open market improvement, and the impermanent approaches.

Grab the sample of Digital Coins market here:www.intenseresearch.com/market-analysis/global-digital-coins-market-2018-production-sales-supply.html

The Digital Coins market report investigates the market categorization (Product Type 1, Product Type 2, Product Type 3, Product Type 4, Product Type 5, Product Type 6) concerning the product and its type, end-customer applications, local control, and market plans. The Digital Coins market report gives the ensured improvement factors and possibilities in areas that strikingly impact the market development plan information about the various conditions of the Digital Coins market totally. The Digital Coins market report in like way connects an assessed impact of the organization’s courses of action and measures over the market. The Digital Coins market report incorporates assorted illustrative strategies for knowledge, for example, SWOT examination to get the data to segregate the finance-related vulnerabilities identified with the movement of the market, which relies on the present information.

The Digital Coins market report offers an edge perspective on the major and minor factors that might impact up or keep the market progression. The Digital Coins market report gives meaningful information that can change the persuading parts in the market and would, similarly, give a topographical investigation (Application 1, Application 2) of the inclusive market on a general estimation. The Digital Coins report gives in-detail information to comprehend the basic market sections that will help with settling on business choices, managing funds, strategizing better and the innovations outlook as appeared by the evaluation of the market.

For more enquires regarding Digital Coins market, click here:www.intenseresearch.com/market-analysis/global-digital-coins-market-2018-production-sales-supply.html#request-sample

Research Objective :

Our board of exchange givers additionally as exchange experts over the value chain have taken immense endeavors in doing this gathering activity and hard work add request to deliver the key players with helpful essential and optional information concerning the world Digital Coins advertise. moreover, the report furthermore contains contributions from our exchange experts that may encourage the key players in sparing their time from the inside examination half. firms WHO get and utilize this report will be totally benefitted with the derivations conveyed in it. but this, the report furthermore gives top to bottom investigation on Digital Coins deal in addition on the grounds that the elements that impact the customers additionally as undertakings towards this technique.

Thanks for reading this article; you’ll be able to additionally get individual chapter wise section or region wise report versions like North America, Europe, Asia-Pacific, South America, geographic area and continent.

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Ethereum Classic Price Analysis: Ethereum Classic (ETC) keeps the upsurge locked; indications of …

Ethereum Classic (ETC) seems to start the price rally very shortly. The coin is climbing up on the chart with tremendous speed. The coin was seen …

Ethereum Classic (ETC) seems to start the price rally very shortly. The coin is climbing up on the chart with tremendous speed. The coin was seen suffering in the last week, but the last hours brought the major change in the coin.

The traders are gazing at the Ethereum Classic chart. The coin is speculated to touch $8 in the coming days. Talking about yesterday, the coin touched a high at 7.41 USD and a low at 6.87 USD. The coin marked 829,563,023 USD as the volume on yesterday’s market.

Current Statistics of Ethereum Classic:

  • The coin stands at 7.28 USD.
  • The ROI is marked as 867.30%.
  • The coin is at the 16th rank in the crypto market.
  • 928,338,970 USD is the 24hr volume.
  • 822,247,574 USD is marked as the market cap.
  • Ethereum Classic (ETC) has circulated 112,986,563 ETC coins.

ETC to USD Price Comparison:

The chart is taken from Trading View on 26th August 2019, at 08:20:25 UTC for price analysis.

ETC Price PredictionETC Price Prediction
ETC Price Chart by TradingView

Yesterday, the coin opened at $6.8 and jumped to $6.9. Further, the price changed from $6.8 to $7.4 by 7.90%. But in the later hours, the coin slipped and closed at $7.120. The intraday escalation was of 3.91%. Today, the coin jumped from $7.1 to $7.3 by 3.36%. The coin has escalated from $7.1 to $7.2 by 2.24% from the beginning of the day.

ETC Price Prediction and Conclusion:

The marketers have often blamed Ethereum Classic to get influenced by Ethereum. Well, from the last couple of days, the coin has broken the myth as it has paved its way to start the upsurge. Yesterday, Ethereum was dealing with the bear, but Ethereum Classic was heroically climbing up.

The coin holds a high expectation of future upsurge. The coin is likely to touch 10 USD by the end of 2019. Towards the beginning of 2022, the coin might be seen near 15 USD. The coin is highly recommended for the long term investors. The coin is speculated to give the best result in the specified time.

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England’s central banker touts digital currencies over US dollar

It’s a big enough deal that even SWIFT—the biggest bottleneck in the system—has moved to partner with R3’s Corda distributed ledger technology …

The governor of the Bank of England just touted digital currencies as a possible replacement for the U.S. dollar as the world’s reserve currency. Such a digital asset, whether backed by central banks or even Facebook’s Libra stablecoin, would “dampen the domineering influence of the US dollar on global trade,” Mark Carney said in a speech on August 23 to the 2019 Economic Policy Symposium in Jackson Hole, Wyo.

Calling this type of asset a “synthetic hegemonic currency” (SHC), Carney suggested that a digital currency backed by a network of central banks would prevent economic conditions in the U.S. from spilling over “onto both the trade performance and the financial conditions of countries even with relatively limited direct exposure to the U.S. economy.”

It would also prevent another fiat currency, notably China’s renminbi, from displacing the dollar but leaving the same problems in place, he pointed out.

Another reason to look at digital currencies as an SHC is that historically, the rise of a reserve currency is based first and foremost on its ability to reduce the cost and increase the convenience of international payments, he asserted.

Making international payments faster and cheaper is perhaps the single biggest factor pushing financial institutions to look at blockchain-based payment systems. Companies ranging from blockchain payment platform Ripple to banking giant JPMorgan Chase invested in cryptocurrencies to bypass the slow and costly SWIFT bank settlement system. It’s a big enough deal that even SWIFT—the biggest bottleneck in the system—has moved to partner with R3’s Corda distributed ledger technology (DLT) platform to ensure it doesn’t get cut out by cryptocurrency-based payments.

Carney even pointed to Facebook’s highly criticized and widely distrusted Libra cryptocurrency project as a possible private-sector solution, commenting that the stablecoin would be backed by a basket of currencies, not just one.

“There are a host of fundamental issues that Libra must address, ranging from privacy to [“anti-money laundering” and “countering the financing of terrorism” compliance] and operational resilience,” he pointed out. “The Bank of England and other regulators have been clear that unlike in social media, for which standards and regulations are only now being developed after the technologies have been adopted by billions of users, the terms of engagement for any new systemic private payments system must be in force well in advance of any launch.”

Even so, Carney added, “it is an open question whether such a new SHC would be best provided by the public sector, perhaps through a network of central bank digital currencies.”

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