Crypto News Round-Up December 10
ADOPTION
KFC Accepts Cryptocurrency Dash In Venezuela
Fast payments, low fees, and decentralization are three greats reasons to love cryptocurrency but in reality, everyone just wants to buy a KFC bucket and some mashed potatoes with crypto. Well, now that dream is a reality. KFC restaurants in Venezuela will start accepting payments in Dash next week. The new feature will launch at the KFC branch in Chacao Municipality in Caracas, Venezuela’s capital city before expanding to 24 other locations in the country. KFC is the latest chain restaurant to accept Dash in the country including Subway and Papa John’s Pizza.
PARTNERSHIP
ADNOC Partner With IBM For Blockchain Integration
IBM is assisting the Abu Dhabi National Oil Company (ADNOC) to build a blockchain based supply chain system. This platform will allow ADNOC, the state-owned oil company of UAE, to better track the “quantities and the financial value of each bilateral transaction”. The system is in the pilot stage and could be the first implication of blockchain in the oil industry.
MARKET
Crypto Market Adds $8 Billion
The cryptocurrency ecosystem has ended with a flush of green this Sunday with most cryptocurrencies surging. Bitcoin is closing in on the $3,700 mark. The root of the uptick is unclear, but some claim it may be caused by Square’s Cash App’s popularity, while others suspect it is dead cat bounce. Other altcoins such as ETH, XRP, Litecoin, NEO have all seen a rise and are currently outperforming BTC.
REMITTANCE
India Tops World Remittances List with $80 Billion
The World Bank recently reported that India received the largest amount in remittance during the year 2018 with $80 billion being sent from abroad. Users paid $4 billion in fees to payment services. This news is particularly attractive to burgeoning companies in the crypto industry who see this as an example of cryptocurrency adoption. In times when people are losing an average of 7.54% of their money in fees (according to the World Bank) using blockchain technology could reduce that number to just 1%.
PAYMENT
MasterCard Develops New Way To Hide Crypto Transactions
The payment giant MasterCard has implemented a patent application of hiding the origin and amount details of transactions over a blockchain. The system uses an intermediate address during transactions that work together with the public key, while a new transaction data is generated using a private key. The amounts are also hidden through the use of multiple transfers using different addresses. This application attracts users seeking for transactions anonymity.
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Originally published at nauticus.exchange on December 10, 2018.
