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Egypt Will Issue a Digital Currency Next Year

M. Ali

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Egypt Will Issue a Digital Currency Next Year

Finally, after a long period of refusal, the Central Bank of Egypt revealed that it will complete the study to launch a digital currency next year, in cooperation with a number of international institutions.

According “Almal News“, Ehab Nasr, Central Bank’s VP assistant and head of payment systems and financial technology sector, the central bank will finalize the launch of a digital currency next year.

Nasr said that the Central Bank is cooperating in this regard with international institutions that he did not disclose, also did not disclose whether the new Egypt digital currency will be used only in internal banking transactions or will be available for public use and trade, where the study includes the need for the Egyptian market for digital currency and legislation necessary to launch .

A number of central banks around the world are seriously considering launching cryptocurrencies under their control, notably China’s central bank , Tunisia and Turkey.

The Central Bank of Egypt has repeatedly refused to deal with the use of digital currencies , including Bitcoin, pointing out that their prices are volatile due to speculation and lack of control by governments.

Recently, Arab central bankers recognized digital currencies during the meeting of the Board of Governors of Arab Banks and Monetary Institutions, and stressed the importance of addressing the risks arising from the use of digital currencies and the possible effects on monetary policies and the importance of appropriate preparation and capacity-building of central banks that wish to issue such Digital workers, development of digital identity standards, principles of customer identification, development of legislation and strengthening of international coordination in the face of risks.

Ayman Hussein, Deputy Governor of the Central Bank of the payment systems sector, said in October last year, that the Central bank began a study on the possibility of issuing an Egyptian digital currency, without disclosing further details, stressing that it comes in the context of reducing the circulation of banknotes And the transformation into a non-cash society.

Last year, The Central Bank issued a formal warning last year against dealing in all types of virtual cryptocurrencies, especially Bitcoin, because it is not issued by any central bank and is not supervised by any regulatory body in the world, and therefore lacks the official guarantee and government support enjoyed by the official currencies issued by central banks.

Daily cryptocurrency trader, miner, technology enthusiast and a full time IT and security consultant. If you have any questions or comments please feel free to email him at [email protected]

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Litewallet Integrates .crypto Domains to Simplify Transactions

Sying Tien

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Litewallet Integrates .crypto Domains to Simplify Transactions

The official Litecoin Wallet for Android, “Litewallet” will integrate .crypto blockchain domains. This will allow Litewallet’s users to send cryptocurrencies to human-readable addresses supported by .crypto domains [ex: my-name-is-here.crypto].

This was announced by Unstoppable Domains, a company building blockchain domain names.

The integration with the Litecoin Foundation coincides with Unstoppable Domains’ unveiling of their App Store feature. Within the App Store, Unstoppable Domains users can browse applications across a number of categories that are accessible with their domains. Additionally, developers will have the ability to promote their applications to domain owners — cementing Unstoppable Domains as an all-in-one hub for blockchain applications. Litewallet will be among the first applications featured within the Unstoppable Domains App Store.

LTC/USD Price Chart

About Litecoin Foundation:

The Litecoin Foundation is a non-profit organization registered in Singapore (Litecoin Foundation Ltd. UEN: 201709179W). Our mission is to advance Litecoin for the good of society by developing and promoting state-of-the-art blockchain technologies.

About Litewallet:

Litewallet was built by and maintained by the Litecoin Foundation. Developers interested in getting involved with future Litewallet development or other LF projects can contact the Foundation below.

About Unstoppable Domains:

Unstoppable Domains is a San Francisco-based company building domains on blockchains. The company is backed by Draper Associates and Boost VC and has received grants from the Ethereum Foundation and the Zilliqa Foundation.

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BNB’s Price Spiked Over 27% Amid Listing Bella Protocol

June G. Bauer

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Binance-BNB-Price-Spike

Binance’s coin (BNB) price spiked over 27% in the past couple of hours amid listing Bella Protocol (BEL) on Bianace’s LaunchPad. BNB holders will be able to earn and acquire new token rewards in return for staking BNB, BUSD, and ARPA tokens.

BNB coin volumes spiked and the price jumped from $18.49 to $23.59 within few hours.

BNB Price Spike

BNB coin holders will be able farm BEL tokens over 30 days, starting on September 9th. Binance will then list BEL on September 16th and open trading for BEL/BTC, BEL/BNB, BEL/BUSD, and BEL/USDT trading pairs.

Bella Protocol is a user-friendly Decentralized finance (DeFi) and also an asset management platform with very low transaction fees. They claim that these initiatives will offer a more seamless user experience for DeFi investors.

BEL is an ERC20 token and is the governance token in the Bella ecosystem. The total supply of $BEL is 100,000,000. BEL coin holders will be able to earn profit sharing, get fee discount, staking rewards, and voting power in the Bella ecosystem.

Bella Token Distribution

BNB/USD Price Chart

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Flare Network Will Airdrop Spark Tokens For Ripple Holders

M. Ali

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Ripple-XRP-Airdrop

Ripple-backed blockchain platform Flare Network will be distributing 45 Billion Spark tokens to all XRP holders of non-custodial wallets. The air drop is planned take place on December 12th this year.

The Flare’s native token Spark will be generated through a “utility fork” in XRP. XRP holders will receive Spark tokens in 1:1 ration. Meaning there will be 100 billion Spark token in total. while Spark works independently on the Flare Network, it still holds some relation with XRP.

Currently, only four cryptocurrency exchanges (Uphold, Bitrue, Gatehub and Anchorusd) will be supporting the upcoming airdrop. Large exchanges like Binance and Crypto.com have not released any official statements regarding the support of Spark airdrop.

The Flare Network will integrate the Ethereum Virtual Machine (EVM). This will allow the network to execute smart contracts on Ethereum using the XRP cryptocurrency via FXRP. For smart contracts, payments will happen in XRP through Interledger integrated into Flare. In this case, Spark will help to collateralize the FXRP. All the people using Spark and providing it as collateral will earn fees.

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