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July 2016

Facebook Coin | Catalyst for Crypto Growth, Says Spencer Bogart

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Facebook Coin

Facebook Coin

With the introduction of the Facebook Coin, the cryptocurrency world is facing a revolution. Spencer Bogart of Blockchain Capital, in an interview with Bloomberg, shed some light on the media giant’s venture into the cryptocurrency ecosystem.

The Trickle-Down Effect of Facebook Coin

In the interview, Bogart stated that there are several catalysts on the horizon in the cryptocurrency market despite the speculated “bottom” being reached. One good catalyst will be the anticipated Facebook Coin that will change dynamics in the cryptocurrency industry.

The Facebook Coin project will be an incredible project in electronic payments because it operates differently from current cryptocurrencies.

Bogart used the phrase “gateway drug” to assert that the adoption of the Facebook Coin will spur on the cryptocurrency market by adding billions into it. After establishing initial public confidence using the fiat-backed Facebook Coin, users can then diversify into Bitcoin and other virtual currencies. Bogart added that it is likely a given percentage of users will follow this path, which will significantly impact the industry, adoption tricking down to other cryptocurrencies.

>> Facebook Crypto Ad Ban: Platform Loosens Restriction on Crypto Ads

A Cryptocurrency Catalyst?

Besides the adoption success in the long-term, the Facebook Coin project is likely to initiate something that is more significant. The venture has ignited a fire in numerous FinTech and financial institutions across the US. This is evident in what is witnessed in ETrade, TA Ameritrade, and Fidelity’s digital assets wings, which have introduced crypto-centric services both on the retail and institutional front. The Blockchain Capital Partner indicated that the company sprang into action to introduce the service following the launch of the Facebook Coin Project.

The Facebook Coin project will be headquartered in London with another small office in Dublin. The payments project will first target India because of the popularity of WhatsApp in the country.

Featured image: Deposit Photos © ibphoto

LiteLink Technologies Subsidiary uBUCK Technologies Completes Second Tranche of Private Placement to Fuel Growth

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VANCOUVER , Jan. 27, 2020 /CNW/ – LiteLink Technologies Inc. (“LiteLink”) (CSE:LLT)(OTC:LLNKF)(FRA:C0B), a key player in logistics platforms and payment solutions, is pleased to announce that its subsidiary uBUCK Technologies SEZC (“uBUCK”) has closed the second tranche of a non-brokered, non-dilutive private placement previously announced on September 23, 2019 .

Under the second tranche, uBUCK issued 1,000,000 preferred shares at a price of US$0.50 per share for gross proceeds of US$500,000 . Under the terms of the offering, uBUCK expects an additional minimum investment of US$1,500,000 will be made in exchange for 3,000,000 preferred shares at a price of US$0.50 per share by June 30 , 2020.  The investor will also have the option to invest an additional US$2,500,000 for a total of 8,000,000 preferred shares at a price of US$0.50 per share by September 30, 2021 .

Along with the first tranche closing announced September 30, 2019 , uBUCK has now raised a total of US$900,000 .

uBUCK intends to use the gross proceeds of the private placement to complete the development of the uBUCK and Streambucks digital wallets, accelerate growth, increase customer acquisitions, and conduct additional product testing.

Because the private placement was made directly into a subsidiary of LiteLink, it is non-dilutive to LiteLink shareholders. The transaction is subject to all necessary regulatory and stock exchange approval.

The preferred shares come with first rights to dividends of 6% (of the amount invested) and first claims to assets up to the investment in case of liquidation. Upon closing of this tranche, the investor will own 3.6% of uBUCK.

About uBUCK Technologies SEZC

Based in Georgetown, Cayman Islands , uBUCK is a fintech enterprise that specializes in digital payments and wallets. uBUCK Pay is a multi-currency digital wallet servicing the unbanked and underbanked users around the globe. Streambucks is a multi-currency digital wallet built exclusively for gamers and streamers.  Users will be able to load a prepaid debit card to make purchases online and offline at participating merchants where credit and debit cards are accepted.

About LiteLink Technologies Inc.

LiteLink 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.  Its 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.

The Canadian Securities Exchange has not reviewed or approved the contents of this news release.

Cautionary Statement Regarding Forward-Looking Statements

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 or uBUCK, and other factors or information. Such statements represent LiteLink’s and uBUCK’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 and uBUCK, 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 or uBUCK 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.

SOURCE LiteLink Technologies Inc.

Square Wins US Patent for Fiat-to-Crypto Payments Network

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Square

Square

Square, the payment services provider founded and run by Twitter’s Jack Dorsey, has won a US patent to launch a new network that enables crypto-to-fiat transactions.

Square was founded in 2009 by Jack Dorsey and Jim McKelvey in their hometown of St. Louis, around the same time as Dorsey’s other company, Twitter (NYSE:TWTR), was beginning to take off. In the intervening year, Square’s white payment terminals have become synonymous with the advent of contactless payment. The new patent covers a payment system that allows users holding different assets to transact with each other in real-time, a major advancement towards the mainstream usage of digital assets in day-to-day business.

Square officially launched its crypto division in March of last year, with the inaugural dev team being completed in September.

“The present technology permits a first party to pay in any currency, while permitting the second party to be paid in any currency,” said Square’s patent application. The technology will be able to automatically exchange the sender’s payment into an asset specified by the receiver. There are a host of applications for a technology of this nature and could be particularly applicable to the retail sector where, at present, most cryptocurrencies are too volatile to be used as an acceptable form of payment.

Dorsey has been a major proponent of the widespread adoption of cryptocurrency and has often stated his belief that Bitcoin (BTC) could become the “native currency” for the internet. Square integrated Bitcoin into its system in 2018 but has been reluctant to comment on the possibility of adding more digital assets.

>> Cryptocurrency Not Banned in India, According to RBI

Also today, Square Crypto has launched a Lightning Development Kit (LDK). This is similar to a standard software development kit (SDK) but is focused on the Lightning Network, which is a second-layer scaling solution that essentially takes the pressure of some transactions off the main chain to allow for lightning-fast, minimal cost, and cross-chain transfers. This will allow developers to create custom integrations to the Square network in an “easy, safe, and configurable way.”

Featured Image: DepositPhotos © assumption111

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Tezos (XTZ) Soars Over 32% in a Week: Here’s Why

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Tezos

Tezos

Altcoins had a pretty disappointing time in 2019, but since the turn of the year, it has been a different story, and one of the altcoins that could be watched closely at this point is Tezos (XTZ). Over the course of the past seven days, XTZ has enjoyed a sustained rally and has emerged as the highest gainer from among the top 20 tokens among cryptocurrencies by market cap.

In the last seven days, XTZ has gained as much as 32.5%, and over the past 24 hours, it has managed to gain 6.5%. These gains have firmly positioned the token as one to watch out for, and investors could do well to keep track of the price action.

Key Drivers

That being said, analysts have not yet been able to figure out the specific reasons behind the remarkable rise in Tezos in recent days. However, the current rally must come as a form of vindication for all those investors who held on to XTZ, even though it crashed considerably back in 2018. It hit its all-time high back in 2017, but when the crypto selloff commenced in 2018, XTZ suffered considerably and tanked by as much as 80% at the time.

The rally this week is not the only thing that is newsworthy with regards to XTZ. This past Thursday, it emerged that Binance was going to make XTZ futures available on its exchange. XTZ’s future went live on the exchange at 8 in the morning on Thursday, and it marks another important chapter in the continued growth of the cryptocurrency.

>> Bakkt to Acquire Loyalty Program Provider Bridge2 Solutions

In this regard, it is important to keep in mind that Binance is the world’s biggest crypto exchange, and the launch of XTZ futures on the platform could have a highly positive effect on the token. The current developments have made Tezos one of those altcoins that could be hard to ignore.

Featured image: DepositPhotos © Piter2121

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