Source for BlockChain News

Monthly archive

October 2005

eBay Not Accepting Cryptocurrency Payments

by
eBay

eBay

Earlier this week, there were rumors that eBay (NASDAQ:EBAY) is going to start accepting cryptocurrency as a form of payment. While the e-retailing giant did not confirm these rumours at the time, many thought it was true: the company’s banners at the Consensus conference indicated so. But it’s not true. And the company has now confirmed that.

Here’s everything we know.

eBay Accepting Crypto? Nope

It’s no secret that the list of companies that have started to accept cryptocurrencies, like Bitcoin, as payment is growing. And at a rapid pace, might we add. But not everyone is jumping on this train, despite rumours saying so. One company is eBay, which said yesterday, according to Bloomberg, that it is not accepting, nor is it planning to accept cryptocurrencies as a method of payment.

“Cryptocurrency is not accepted as a form of payment on the eBay platform, nor is it part of our payments strategy,” explained a spokesperson for the San Jose, California company.

Of course, this might come as a disappointment to some. When you combine this week’s increase in crypto prices with the company’s reach, in addition to its “Virtual Currency. It’s happening on eBay” billboards, one might have been convinced the rumors were true.

Then again, not everyone seems disappointed. After all, EBAY stock didn’t plunge on the market today. In fact, EBAY stock closed the day up 0.65%. 

Never Say Never

Some companies don’t like to announce things too fast. Just because crypto payments are not part of eBay’s payments strategy right now doesn’t mean it won’t ever be. The company is clearly aware of the potentials of the industry, so we have to think it is not ousting the idea entirely. 

What do you think? Do you think eBay should start accepting cryptocurrencies as a method of payment? Let us know in the comments below! 

Featured image: DepositPhotos 

If You Liked This Article Click To Share

LiteLink Selected by Deloitte as Blockchain Delivery Group LiteLink Selected by Deloitte as Blockchain Delivery Group

by

VANCOUVER, British Columbia, May 24, 2019 (GLOBE NEWSWIRE) — LiteLink Technologies Inc. (“LiteLink”) (CSE:LLT)(FRA:C0B:FF), a leader in logistics, artificial intelligence and digital payment solutions is pleased to announce that it has been selected by Deloitte Canada to bring technical experience to key client engagements.

This collaboration has already generated a successful client engagement, as Deloitte and LiteLink have effectively delivered a blockchain solution in the supply chain, logistics space for a key public sector client. This Minimum Viable Product (MVP) was built on Quorum, permission, enterprise-grade fork of the Ethereum public blockchain platform developed by J.P. Morgan.

Deloitte began identifying a suitable use-case with their client in late 2017 to validate the alignment of the problem with the technology. This solution enables a shared trusted record of immutable, transparent data between participants to drive operational efficiencies in an existing process that is manual and involves multiple stakeholders. The solution also allows the automation of activities with the use of smart contracts creating further efficiency gains amongst parties.

“LiteLink collaborated with Deloitte to be an early adopter seeking out Clients that had a real need for the use of blockchain. We found a very necessary use case to drive immutable audit trails and mission-critical workflows to drive the cost of human error and leakage down in a multinational setting,”

said Jason Lawrence, LiteLink CTO.

“These types of relationships with Deloitte are exceptionally important to gain access to large enterprise opportunities where we can leverage each other’s strengths, economics, and talent pool to drive out the best blockchain solutions for our customers,”

commented LiteLink CEO Ashik Karim.

“Supply chains and logistics systems in both the private and public sectors are rife with opportunities to be revamped and reimagined. By applying Blockchain technologies as an innovative and effective tool to lead this overhaul, Deloitte is pleased to team up with companies like LiteLink to bring more value to shareholders and ratepayers,”

said Don MacPherson, Engagement Partner at Deloitte.

LiteLink combines deep industry experience in Logistics with leading-edge technologies to create an ecosystem of shippers, third-party logistics companies, and trucking carriers to operate together with a reduced effort, lower cost, and greater predictability. LiteLink has also established a core blockchain team in British Columbia that has found practical applications for the use of blockchain in logistics, supply chain, and rating.

About LiteLink Technologies Inc.

LiteLink Technologies Inc. (“LiteLink”) (CSE:LLT)(FRA:C0B:FF) is a major player in developing world-class enterprise platforms that utilize artificial intelligence, blockchain, and predictive analytics to solve fragmented and outdated technology problems in the logistics and digital payment industries. Our flagship 1SHIFT logistics platform offers real-time transparency and tracking which allows brokers, shippers, and carriers to track shipments and settle payments in real-time. For more information about LiteLink Technologies Inc., please visit litelinktech.com. If you would like to know more about the 1SHIFT logistics platform, please visit 1shiftlogistics.com.

Forward-looking Statement

This news release may contain certain “Forward-Looking Statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “schedule” and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to the nature of the business of LiteLink, and other factors or information and do not represent any statements or information from Deloitte. Such statements represent LiteLink’s current views with respect to future events and are necessarily based upon a number of assumptions and estimate that, while considered reasonable by LiteLink, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. LiteLink does not intend and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules, and regulations.

Please See Disclaimer

If You Liked This Article Click To Share

Proof of Capital | A New Blockchain Venture Fund Worth $50 Million

by
Proof of Capital

Proof of Capital

A new blockchain-focused venture capital fund called Proof of Capital has been established by a group of investors. The aim of the $50 million USD fund is to encourage further adoption of blockchain technology.

Blockchain Venture Fund: Proof of Capital

The new fund has been founded by three partners: Phil Chen, Chris McCann, and Edith Yeung.

It will invest in early-stage startups that are involved in blockchain technology. The group has highlighted various areas of the blockchain ecosystem that it is looking to back, including remittances, custody, wallets, security, and identity.

All three founders are seasoned professionals coming from other venture funds. Chen was formerly with Horizons Ventures, McCann with Greylock Partners, and Yeung an adviser to venture capital firm 500 Startups.

Data Protection

A major impetus for this venture comes from the greater need for blockchain technology with regards to data protection. The public is aware, now more than ever, that their private data is being used and sold by major tech companies. In response to this, Chen said the following:

“We want to help proliferate blockchain technology by funding global founders who are building the hardware and software of Web 3.0 – the decentralized web, which will protect users and allow them take back control of their data.”

>> India’s Unocoin Left with 14 Employees, Struggling to Stay Afloat

Proof of Capital

Proof of Capital is already busy with its first investment, Argentina-based blockchain startup Ubanx. This startup provides a platform that connects customers to the blockchain ecosystem of products and services.

Further, the fund is partnering with major tech giant HTC on its EXODUS blockchain phone. According to Chen, Proof of Capital will “work closely with HTC to define the standards and interactions for this new internet and bring mobile and hardware know-how for our portfolio companies.”

Do you think blockchain technology can help to stop the misuse of private data? Let us know your thoughts on Proof of Capital!

Featured Image: DepositPhotos © Syda_Productions

If You Liked This Article Click To Share

Does Bitcoin Breakout Signal More Rallies to Come Later this Year?

by
Bitcoin

Bitcoin

When Bitcoin (BTC) went through a disappointing year in 2018, following the astonishing bull run at the end of 2017, many experts all over the world had written off the cryptocurrency. However, in 2019, the coin has come roaring back and went on another incredible bull run that has raised visions of a rally that could be similar, if not better, than the one that took place in 2017.

In 2019 alone, Bitcoin has gained as much as 240%, and there is a belief among crypto experts that it could climb further for the rest of the year.

Wild Moves

Last weekend Bitcoin slumped a bit but was fast to recover. Over the past couple of days, BTC has surged yet again and easily shrugged off the declines that it had experienced prior thanks to issues related to Facebook’s Libra. Technical analysts have stated that the Bitcoin curve is now is at a critical point, from where the coin could either go high or low.

>> Ripple Receives Boost with ECB Change in Leadership

There is a belief among many analysts that a significant piece of news (positive news of any kind) could be all it takes to push the price of Bitcoin up and give it the momentum for its next major breakout. The same action has been seen in many of the instances when Bitcoin really broke out and reached new levels.

The Chief Strategist at Onada Corp in New York, Edward Moya, stated that he believes that because there is now significant interest in Bitcoin from institutional investors, it won’t take much to push BTC over the edge. For example, the establishment of Fidelity’s Bitcoin fund for its institutional investors some months back was looked upon as a major development for the cryptocurrency, and it is believed that more such updates might push the token to new highs.

At the time of writing, Bitcoin is up over 5% and now trading at $12,540, just 9% away from its 52-week high.

Featured image: DepositPhotos © 

If You Liked This Article Click To Share

Go to Top