Crypto Sunday - Article 02 (13th of March)

You are probably all worried about the tragic situation in Ukraine and you are wondering what the outcome will be and how it will affect everyone else.

I would like everyone to be aware that the economic effects of the pandemic are only just beginning. So far, tons of money have been printed and the population has been given help to stay at home for a long time and prevent the uncontrolled spread of the disease.

This is the first year we are beginning to see the effects and the first sign is the huge inflation we are seeing globally.

Exports will now be affected by the conflict in some countries and export and production lines will have to be rethought and reorganised in half of Europe.

This will certainly generate short-term price increases, but great long-term opportunities. As you probably already know, the activities of coal mines and polluting power plants that use coal as a raw material are resuming in Europe.

Of course, these measures have a bad effect on the environment, but they are good economic decisions, meant to ensure our energy independence and energy efficiency for ordinary consumers.

It also represents extraordinary investment opportunities on the stock market in certain companies.

Although it may seem that everything is going badly during this period, due to the predominantly negative news, you should know that there is a lot of good news.

It is everyone's duty to take what is beautiful in life and to use the opportunities we have.

Amazing news, which we have been waiting for a long time, comes right from Elrond and tells us the following:

"The Romanian Central Bank, in a landmark decision with implications for the evolution of digital finance in Europe, has approved the acquisition of Twispay by Elrond.

Twispay is a financial institution licensed to provide payment services and to issue electronic money in accordance with the legislation in force and with the authorisation received from the National Bank of Romania. Moreover, Twispay is a principal member of Visa (for issuing Visa cards) and of MasterCard (for issuing and acquiring MasterCard cards).

Electronic money or e-money has been designed as a digital alternative to cash for automating financial transactions in areas such as payments and e-commerce. Elrond seeks to enhance the utility of this proven and regulated value transfer framework and take it to its natural conclusion by complementing it with a blockchain technology that is fast, scalable and inexpensive.

Elrond made a strategic first move to establish itself as a bridge between traditional finance and the crypto space when it went public with its intention to acquire Twispay, institution that can operate within the entire EEA (European Union, Iceland, Liechtenstein and Norway) under the passporting rules.

Since the announcement in October 2021, the two parties have engaged in conversations with the National Bank of Romania, supported by financial and tax consultancy from Deloitte and legal assistance from Reff & Associates | Deloitte Legal. After several rounds of constructive discussions and a conclusion about blockchain technology’s important role in the evolution of finance, the National Bank of Romania has officially decided in favour of Elrond acquiring Twispay.

“This landmark decision from the Romanian Central Bank opens the door for EU citizens, and soon for everyone everywhere, to significantly benefit from value flowing with near-instant settlement times, at 100x fewer costs, with full transparency, and higher reliability.” said Beniamin Mincu, Elrond Network.

The decision comes at a time when the EU Parliament is seeking to limit the use of energy intensive Proof of Work blockchain networks due to their climate impact. Elrond is maintaining its “carbon-negative” status by offsetting more CO2 than its already energy efficient network is accountable for.

Besides the entitlement to issue electronic money, under the European framework, the e-money institutions are also entitled to provide payments services under the second Payment Services Directive (PSD2).

Moreover, the EU Commission’s proposed European Regulation on Markets in Crypto-assets stipulates that licensed e-money institutions will be entitled to issue stable-coins which can be offered to the public in the Union or admitted to trading on a trading platform for crypto-assets.

The proposal regulation of crypto-assets and the related activities is closely linked with wider Commission policies on blockchain technology, since crypto-assets (including stable-coins), as the main application of blockchain technologies, are inextricably linked to the promotion of blockchain technology throughout Europe.

This puts Elrond in a strategic position to offer a sustainable infrastructure for a completely new payment rails that is faster, cheaper, transparent, and open to people all around the world. Other important use cases that will be explored within the applicable regulatory framework may include new stable-coins, crypto enabled debit cards, as well as benefits of DeFi, NFTs and other Web3 technologies that will enhance trust and efficiency for existing financial systems."

This is an announcement that the Elrond community have been waiting for a long time and which, in addition to revolutionising the financial system, it will certainly enrich the owners of the Elrond network, more precisely those who own Egold.

Major progress is being made in this regard, and this is not the only financial institution acquired by Elrond so far, but there are 3 in number. One of them is the Utrust payment processor and the other is ZoidPay.

We have no doubt that we have invested in the right project and we are convinced that in the long run, we will see Elrond in the top of crypto projects and we can't wait for them to launch their first stable-coin.

As for the market today, we see that there are no major changes compared to last week. Bitcoin is at the same value as 7 days ago and is trading at $ 39,040 today. The dominance is again around 42%, but instead we see increases of 6-7 percent in the last week at XRP, Teraluna, Polkadot, or Stelar.

Instead, we see that ICP, MANA, ALGO, ATOM, SHIBA, DOGE, AVAX or even Solana have registered serious decreases in the last week.

Ethereum and BNB are also declining but only by 2-3 percent.

We have a total capitalisation of $ 1.74 trillion today, which is not bad. We are still in a good period of accumulation and the index of fear and greed confirms this, showing that we are at a point of extreme fear.

As you have seen, people are no longer rational lately and because of their fear and lack of financial education, they are investing in oil, iodine pills or fuel. But they do not make these investments on the stock market, but have effectively emptied stores and pharmacies in Europe.

If this situation is laughable or weeping I leave it to you to decide.

The stock market also remains in a favourable position for those willing to invest in certain sectors. Many famous companies are now trading very cheaply and the opportunities remain with us.

Investment opportunities are still plentiful, we released a video last week dedicated to real estate investments with good returns.

Now, thanks to technology, you can invest in real estate starting at just €500 and I recommend you to read our article about InRento, which you can access right now by clicking here or watch the video on our YouTube channel by clicking here.

Also, eBay revealed the plans to launch its first digital wallet where customers can use proceeds from their sales to make purchases or pay their selling fees during today’s investor day.

The company’s press announcement is vague on details, so we are waiting on the full transcript of the event to learn more about this service which is tied to eBay Managed Payments.

But it seems this is not exactly a PayPal-like solution as the announcement only specifies users could use the funds to make other purchases on the eBay platform.

While it seems this news has given the stock a little boost during mid-day trading, it’s important to note that this isn’t particularly a new revelation.

In late 2020 eBay CEO Jamie Iannone already hinted at the 43rd NASDAQ investor conference that bringing some form of digital wallet will be a future feature of its eBay Managed Payments eco-system once the company completes the transition away from PayPal in all of its markets.

In 2020, Iannone said, “… once we have a wallet, once we have the integrated payments, both for buyers and sellers, it just opens up the opportunity for eBay to do new things on the payment side that we’ve never been able to do before, when we’ve only managed the commerce and the payments have been handled separately. And that excites me too, because as we complete this transition and get into 2022, it gives us opportunities to just do more with the customer experience and with both our sellers and our buyers.”

eBay Managed Payments is now available in all of eBay’s global markets. But the service continues to be maligned by long-time sellers that still don’t think it measures up to the convenience PayPal offered.

If this digital wallet idea will help convince those sellers will depend on the details and implementation of the program.

eBay Vault

Another item highlighted during today’s investor day event was that the company will introduce eBay Vault in the US next quarter.

eBay Vault is a 31 thousand square foot, secure storage facility and digital marketplace for trading cards and collectibles, and the company plans to expand this service into luxury goods. Once an item is in the eBay Vault, customers know their valuables are secure and “instant sale” becomes the new reality. Ownership can transfer from seller to buyer in a matter of seconds – without the need to re-authenticate, re-package or ship the item anywhere.

Keeping high-value inventory within the eBay ecosystem is significant for both buyers and sellers the company explained. Furthermore, it said the Vault will make other planned features, like fractionalization and live commerce, possible for a wider audience.

Within a few years, eBay expects the Vault will hold up to $3 billion in assets and it claims that will make it one of the largest stores of non-governmental assets in the world. This material is provided by Richard Meldner.

Richard is co-founder of eSeller365. He has over 17 years of experience on eBay which includes tens of thousands of sales to buyers in over 100 countries and even has experience with eBay’s VeRO program enforcing intellectual property rights for a former employer. And for about two years Richard sold products on Amazon using Amazon FBA in the US.

To “relax” from the daily business grind, for a few weekends a year, he also works for IMSA as a professional race official.

It seems that we are inundated with good news about crypto and that can only make us happy.

The usefulness of this industry is becoming more and more evident and being adopted on a large scale. These things will certainly be reflected in the price of cryptocurrencies, and if you have chosen the right projects to invest in, then it is definitely only a matter of time before you will be rewarded.

Thank you for reading this article to the end. Until next time, take care of your money!


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