Backpacker Coin Marks Launch Anniversary 7th July 2020 marks 1 year of the launch of the Backpacker Coin project. The primary function of the launch was arranged in The Metropolis Tower Two 11 North Buona Vista Drive, Singapore and concurrent events were also held in the USA, Australia and the…

Financial Institutions and Banks Studying Stablecoin Systems The government financial institutions like banking regulators and currency issuing authorities like reserve banks are studying stablecoin systems to learn more. Recently, a working committee of the G-7 has announced a report investigating the impact of stablecoins in the world. Three conventional banks…

Backpacker Coin Announces Massive Reduction in Market Capitalization Figures The Backpacker Coin (BPC) has announced several groundbreaking changes for the future of the cryptocurrency. They include a massive reduction of the overall proposed market capitalization of the stablecoin from around 2 billion coins to around 20 million coins. This massive change will allow BPC to operate on a more sure footing in the near future.

Borderless transactional ability is largely limited to Bitcoin and other top cryptocurrencies. Stablecoins are only rarely used for actual money transfer and thus their use is limited to trading transactions on popular platforms. But, with new and improved stablecoin projects, it is expected that stablecoins will be able to fulfill their long-held promise and deliver a solution that will work for all.

Stablecoins have long been confined to being enablers of the cryptocurrency trading industry. Now, however, with the new and improved stablecoin technologies emerging from the sector. These new projects are looking to have actual borderless transactions in the future using stablecoins.

The stablecoin market has been increasingly put under the microscope when it comes to regulations ever since the Libra project was started. Regulators are increasingly skeptical of stablecoins over fears of them operating a so-called ghost bank. Has the CFTC got legitimate concerns over this or are they just looking to control an overly disruptive industry?

Stablecoins have long been confined to being enablers of the cryptocurrency trading industry. Now, however, with the new and improved stablecoin technologies emerging from the sector. These new projects are looking to have actual borderless transactions in the future using stablecoins.

The cryptocurrency industry is currently in the midst of a tussle between bulls and bears. However, the stablecoins are currently gaining heavily and they have had a healthy increase in market share despite all the volatility. This reinforces the belief that while cryptocurrencies are overall the future, stablecoins can be adjusted easily enough into the current system without actually bringing about fundamental changes.

Stablecoins are becoming more and more popular but the USDT’s dominance is under serious threat. The stablecoin market has been dominated by USD Tether for a long time but now, various new entrants offering better, more stable services are being hailed as general rivals to dethrone it. Follow Backpacker Coin for more insights into the stablecoin market.