In the last couple of years,
cryptocurrencies
Cryptocurrencies
By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology. Cryptocurrencies can be thought of as systems that accept online payments which are denoted as “tokens.” Tokens are represented as internal ledger entries in blockchain technology while the term crypto is used to depict cryptographic methods and encryption algorithms such as public-private key pairs, various hashing functions, and an elliptical curve. Every cryptocurrency transaction that occurs is logged in a web-based ledger with blockchain technology.These then must be approved by a disparate network of individual nodes (computers that maintain a copy of the ledger). For every new block generated, the block must first be authenticated and confirmed ‘approved’ by each node, which makes forging the transactional history of cryptocurrencies nearly impossible. The World’s First CryptoBitcoin became the first blockchain-based cryptocurrency and to this day is still the most demanded cryptocurrency and the most valued. Bitcoin still contributes the majority of the overall cryptocurrency market volume, though several other cryptos have grown in popularity in recent years.Indeed, out of the wake of Bitcoin, iterations of Bitcoin became prevalent which resulted in a multitude of newly created or cloned cryptocurrencies. Contending cryptocurrencies that emerged after Bitcoin’s success is referred to as ‘altcoins’ and they refer to cryptocurrencies such as Bitcoin, Peercoin, Namecoin, Ethereum, Ripple, Stellar, and Dash. Cryptocurrencies promise a wide range of technological innovations that have yet to be structured into being. Simplified payments between two parties without the need for a middle man is one aspect while leveraging blockchain technology to minimize transaction and processing fees for banks is another. Of course, cryptocurrencies have their disadvantages too. This includes issues of tax evasion, money laundering, and other illicit online activities where anonymity is a dire ingredient in solicitous and fraudulent activities.
By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology. Cryptocurrencies can be thought of as systems that accept online payments which are denoted as “tokens.” Tokens are represented as internal ledger entries in blockchain technology while the term crypto is used to depict cryptographic methods and encryption algorithms such as public-private key pairs, various hashing functions, and an elliptical curve. Every cryptocurrency transaction that occurs is logged in a web-based ledger with blockchain technology.These then must be approved by a disparate network of individual nodes (computers that maintain a copy of the ledger). For every new block generated, the block must first be authenticated and confirmed ‘approved’ by each node, which makes forging the transactional history of cryptocurrencies nearly impossible. The World’s First CryptoBitcoin became the first blockchain-based cryptocurrency and to this day is still the most demanded cryptocurrency and the most valued. Bitcoin still contributes the majority of the overall cryptocurrency market volume, though several other cryptos have grown in popularity in recent years.Indeed, out of the wake of Bitcoin, iterations of Bitcoin became prevalent which resulted in a multitude of newly created or cloned cryptocurrencies. Contending cryptocurrencies that emerged after Bitcoin’s success is referred to as ‘altcoins’ and they refer to cryptocurrencies such as Bitcoin, Peercoin, Namecoin, Ethereum, Ripple, Stellar, and Dash. Cryptocurrencies promise a wide range of technological innovations that have yet to be structured into being. Simplified payments between two parties without the need for a middle man is one aspect while leveraging blockchain technology to minimize transaction and processing fees for banks is another. Of course, cryptocurrencies have their disadvantages too. This includes issues of tax evasion, money laundering, and other illicit online activities where anonymity is a dire ingredient in solicitous and fraudulent activities.
Read this Term have become a means of value exchange in different sectors of the economy. As the number of cryptocurrency users continues to skyrocket, we have seen more and more businesses adding crypto to their payment options to attract customers. According to Triple-A, more than 300 million people from across the globe own cryptocurrencies.
Konzum, the largest supermarket chain in Croatia, recently announced that it has started accepting crypto payments on its online store to keep up with the times. The retail giant will allow its customers to buy household supplies, groceries, and hygiene products using cryptocurrencies.
The company supports a total of 11 cryptocurrencies including Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), EOS, DAI, Ripple (XRP), Stellar Lumen (XLM), Tether (USDT), USDC, Solana and BUSD.
The supermarket chain has joined hands with Electrocoin, a local crypto payment processor which is regulated by the Croatian Financial Services Supervisory Agency. Electrocoin has implemented PayCek, which guarantees buyers a fixed exchange rate at the beginning of a transaction despite the volatility in crypto prices.
Konzum itself doesn’t hold any crypto. Electrocoin converts the crypto received from customers into fiat before depositing it in the supermarket chain’s bank accounts.
The company is also planning to start accepting crypto payments at its physical supermarkets. Konzum operates more than 700 stores across Croatia, employing more than 10,000 people. It also has a strong presence in Bosnia and Herzegovina and Serbia. The chain serves more than 650,000 customers a day. If it starts accepting crypto payments at all physical locations, it could give a major boost to crypto adoption.
Many already there
While Konzum accepting crypto payments is a big deal, it’s not the first or only one to do so. Dutch peer-to-peer food ecosystem Bistroo enables restaurants to accept crypto payments without any hassle. The platform facilitates restaurant takeaway and delivery, as well as direct-to consumer delivery of fresh and specialty products straight from the source.
Bistroo lets customers pay restaurants in its native BIST token or a number of other cryptocurrencies such as Bitcoin, Ethereum and Binance Coin. Since the platform encourages a direct connection between restaurants and their customers, it opens up many more possibilities. For example, if restaurants need funding for renovation or operations, they could tap directly into the community using smart contracts. The investors earn interest as well as a fixed percentage of the revenue over a predetermined period of time.
In Croatia, Greyp Bikes recently started allowing its customers to purchase cycling products using crypto. Meanwhile, California-based tech retailer Newegg has begun accepting Shiba Inu (SHIB) tokens as payment during the Christmas holidays.
Nothing, a London-based consumer technology company founded by former OnePlus co-founder Carl Pei, is allowing crypto settlements for its newest product. It will accept Bitcoin (BTC), Ether (ETH), USD Coin (USDC), and Dogecoin (DOGE).
Croatian Post: The original gangster
The Croatian government has neither banned crypto nor recognized it as legal tender. However, back in December 2019, the Croatian Post introduced a service allowing people to purchase crypto at a few locations. Now it offers crypto buying and selling at more than 50 locations across the country.
You can buy and sell 11 cryptocurrencies including Bitcoin, Ether, Bitcoin Cash, DAI, USDT, USDC, Stellar Lumen,
Ripple
Ripple
Ripple was co-founded by Jed McCaleb and Chris Larsen and was debuted in 2012 as both a digital disbursement network and a pre-mined digital coin denoted as XRP. Possessing less market cap than both Bitcoin and Ethereum, Ripple ranks as the third-largest cryptocurrency.Its dual open-source and peer-to-peer (P2P) decentralized platform whose network is capable of working with any form of money such as GBP, Ethereum, Yen, etc. What is Ripple Used For? Known as a gateway, participants of Ripple may send and receive currencies to public digital address codes through the Ripple network. You can think of a gateway as a payment intermediary for Ripple. Serving as a bridge currency, XRP allows for a seamless exchange of any currency (fiat or cryptocurrency) due to each currency possessing its own gateways such as BitPay, CoinsBank, Blockonomics, and CoinGate. Unlike Bitcoin, the Ripple network does not support proof-of-work (PoW) or proof-of-stake (PoS) systems. Instead, a consensus protocol is employed to authenticate and verify that each transaction and account balance match.This ensures the integrity of the Ripple network while lessening the risk of double-spending, all while these confirmations take no longer than 4 seconds to complete.Ripple’s IOU gateway is similar to the traditional banking systems, where contractual obligations are upheld while the potential of transactions defaulting is a constant variable with counter-party risk. Coincidentally, banks are said to be increasing their usage of the Ripple payment system while its market cap shows evidence of its value and demand. All transactions performed over the Ripple network are logged and may be seen on the Ripple consensus ledger. For trading, XRP is generally traded in the form of CFDs.
Ripple was co-founded by Jed McCaleb and Chris Larsen and was debuted in 2012 as both a digital disbursement network and a pre-mined digital coin denoted as XRP. Possessing less market cap than both Bitcoin and Ethereum, Ripple ranks as the third-largest cryptocurrency.Its dual open-source and peer-to-peer (P2P) decentralized platform whose network is capable of working with any form of money such as GBP, Ethereum, Yen, etc. What is Ripple Used For? Known as a gateway, participants of Ripple may send and receive currencies to public digital address codes through the Ripple network. You can think of a gateway as a payment intermediary for Ripple. Serving as a bridge currency, XRP allows for a seamless exchange of any currency (fiat or cryptocurrency) due to each currency possessing its own gateways such as BitPay, CoinsBank, Blockonomics, and CoinGate. Unlike Bitcoin, the Ripple network does not support proof-of-work (PoW) or proof-of-stake (PoS) systems. Instead, a consensus protocol is employed to authenticate and verify that each transaction and account balance match.This ensures the integrity of the Ripple network while lessening the risk of double-spending, all while these confirmations take no longer than 4 seconds to complete.Ripple’s IOU gateway is similar to the traditional banking systems, where contractual obligations are upheld while the potential of transactions defaulting is a constant variable with counter-party risk. Coincidentally, banks are said to be increasing their usage of the Ripple payment system while its market cap shows evidence of its value and demand. All transactions performed over the Ripple network are logged and may be seen on the Ripple consensus ledger. For trading, XRP is generally traded in the form of CFDs.
Read this Term, EOS, Polkadot, and Kusama. Most postal services are ridiculously slow in embracing novel technologies. But the Croatian Post has even launched a Crypto Center website to educate citizens about the asset class and provide other useful information.
Closing thoughts
Cryptocurrencies are getting more and more popular worldwide, despite the massive volatility and regulatory restrictions in many parts of the world. A growing number of businesses are accepting crypto payments from their customers. Now that more than 300 million people worldwide own cryptocurrencies, it has become more difficult than ever before for businesses to watch from the sidelines instead of getting onboard the crypto ship.
In the last couple of years,
cryptocurrencies
Cryptocurrencies
By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology. Cryptocurrencies can be thought of as systems that accept online payments which are denoted as “tokens.” Tokens are represented as internal ledger entries in blockchain technology while the term crypto is used to depict cryptographic methods and encryption algorithms such as public-private key pairs, various hashing functions, and an elliptical curve. Every cryptocurrency transaction that occurs is logged in a web-based ledger with blockchain technology.These then must be approved by a disparate network of individual nodes (computers that maintain a copy of the ledger). For every new block generated, the block must first be authenticated and confirmed ‘approved’ by each node, which makes forging the transactional history of cryptocurrencies nearly impossible. The World’s First CryptoBitcoin became the first blockchain-based cryptocurrency and to this day is still the most demanded cryptocurrency and the most valued. Bitcoin still contributes the majority of the overall cryptocurrency market volume, though several other cryptos have grown in popularity in recent years.Indeed, out of the wake of Bitcoin, iterations of Bitcoin became prevalent which resulted in a multitude of newly created or cloned cryptocurrencies. Contending cryptocurrencies that emerged after Bitcoin’s success is referred to as ‘altcoins’ and they refer to cryptocurrencies such as Bitcoin, Peercoin, Namecoin, Ethereum, Ripple, Stellar, and Dash. Cryptocurrencies promise a wide range of technological innovations that have yet to be structured into being. Simplified payments between two parties without the need for a middle man is one aspect while leveraging blockchain technology to minimize transaction and processing fees for banks is another. Of course, cryptocurrencies have their disadvantages too. This includes issues of tax evasion, money laundering, and other illicit online activities where anonymity is a dire ingredient in solicitous and fraudulent activities.
By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the networks which are used to authenticate blockchain technology. Cryptocurrencies can be thought of as systems that accept online payments which are denoted as “tokens.” Tokens are represented as internal ledger entries in blockchain technology while the term crypto is used to depict cryptographic methods and encryption algorithms such as public-private key pairs, various hashing functions, and an elliptical curve. Every cryptocurrency transaction that occurs is logged in a web-based ledger with blockchain technology.These then must be approved by a disparate network of individual nodes (computers that maintain a copy of the ledger). For every new block generated, the block must first be authenticated and confirmed ‘approved’ by each node, which makes forging the transactional history of cryptocurrencies nearly impossible. The World’s First CryptoBitcoin became the first blockchain-based cryptocurrency and to this day is still the most demanded cryptocurrency and the most valued. Bitcoin still contributes the majority of the overall cryptocurrency market volume, though several other cryptos have grown in popularity in recent years.Indeed, out of the wake of Bitcoin, iterations of Bitcoin became prevalent which resulted in a multitude of newly created or cloned cryptocurrencies. Contending cryptocurrencies that emerged after Bitcoin’s success is referred to as ‘altcoins’ and they refer to cryptocurrencies such as Bitcoin, Peercoin, Namecoin, Ethereum, Ripple, Stellar, and Dash. Cryptocurrencies promise a wide range of technological innovations that have yet to be structured into being. Simplified payments between two parties without the need for a middle man is one aspect while leveraging blockchain technology to minimize transaction and processing fees for banks is another. Of course, cryptocurrencies have their disadvantages too. This includes issues of tax evasion, money laundering, and other illicit online activities where anonymity is a dire ingredient in solicitous and fraudulent activities.
Read this Term have become a means of value exchange in different sectors of the economy. As the number of cryptocurrency users continues to skyrocket, we have seen more and more businesses adding crypto to their payment options to attract customers. According to Triple-A, more than 300 million people from across the globe own cryptocurrencies.
Konzum, the largest supermarket chain in Croatia, recently announced that it has started accepting crypto payments on its online store to keep up with the times. The retail giant will allow its customers to buy household supplies, groceries, and hygiene products using cryptocurrencies.
The company supports a total of 11 cryptocurrencies including Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), EOS, DAI, Ripple (XRP), Stellar Lumen (XLM), Tether (USDT), USDC, Solana and BUSD.
The supermarket chain has joined hands with Electrocoin, a local crypto payment processor which is regulated by the Croatian Financial Services Supervisory Agency. Electrocoin has implemented PayCek, which guarantees buyers a fixed exchange rate at the beginning of a transaction despite the volatility in crypto prices.
Konzum itself doesn’t hold any crypto. Electrocoin converts the crypto received from customers into fiat before depositing it in the supermarket chain’s bank accounts.
The company is also planning to start accepting crypto payments at its physical supermarkets. Konzum operates more than 700 stores across Croatia, employing more than 10,000 people. It also has a strong presence in Bosnia and Herzegovina and Serbia. The chain serves more than 650,000 customers a day. If it starts accepting crypto payments at all physical locations, it could give a major boost to crypto adoption.
Many already there
While Konzum accepting crypto payments is a big deal, it’s not the first or only one to do so. Dutch peer-to-peer food ecosystem Bistroo enables restaurants to accept crypto payments without any hassle. The platform facilitates restaurant takeaway and delivery, as well as direct-to consumer delivery of fresh and specialty products straight from the source.
Bistroo lets customers pay restaurants in its native BIST token or a number of other cryptocurrencies such as Bitcoin, Ethereum and Binance Coin. Since the platform encourages a direct connection between restaurants and their customers, it opens up many more possibilities. For example, if restaurants need funding for renovation or operations, they could tap directly into the community using smart contracts. The investors earn interest as well as a fixed percentage of the revenue over a predetermined period of time.
In Croatia, Greyp Bikes recently started allowing its customers to purchase cycling products using crypto. Meanwhile, California-based tech retailer Newegg has begun accepting Shiba Inu (SHIB) tokens as payment during the Christmas holidays.
Nothing, a London-based consumer technology company founded by former OnePlus co-founder Carl Pei, is allowing crypto settlements for its newest product. It will accept Bitcoin (BTC), Ether (ETH), USD Coin (USDC), and Dogecoin (DOGE).
Croatian Post: The original gangster
The Croatian government has neither banned crypto nor recognized it as legal tender. However, back in December 2019, the Croatian Post introduced a service allowing people to purchase crypto at a few locations. Now it offers crypto buying and selling at more than 50 locations across the country.
You can buy and sell 11 cryptocurrencies including Bitcoin, Ether, Bitcoin Cash, DAI, USDT, USDC, Stellar Lumen,
Ripple
Ripple
Ripple was co-founded by Jed McCaleb and Chris Larsen and was debuted in 2012 as both a digital disbursement network and a pre-mined digital coin denoted as XRP. Possessing less market cap than both Bitcoin and Ethereum, Ripple ranks as the third-largest cryptocurrency.Its dual open-source and peer-to-peer (P2P) decentralized platform whose network is capable of working with any form of money such as GBP, Ethereum, Yen, etc. What is Ripple Used For? Known as a gateway, participants of Ripple may send and receive currencies to public digital address codes through the Ripple network. You can think of a gateway as a payment intermediary for Ripple. Serving as a bridge currency, XRP allows for a seamless exchange of any currency (fiat or cryptocurrency) due to each currency possessing its own gateways such as BitPay, CoinsBank, Blockonomics, and CoinGate. Unlike Bitcoin, the Ripple network does not support proof-of-work (PoW) or proof-of-stake (PoS) systems. Instead, a consensus protocol is employed to authenticate and verify that each transaction and account balance match.This ensures the integrity of the Ripple network while lessening the risk of double-spending, all while these confirmations take no longer than 4 seconds to complete.Ripple’s IOU gateway is similar to the traditional banking systems, where contractual obligations are upheld while the potential of transactions defaulting is a constant variable with counter-party risk. Coincidentally, banks are said to be increasing their usage of the Ripple payment system while its market cap shows evidence of its value and demand. All transactions performed over the Ripple network are logged and may be seen on the Ripple consensus ledger. For trading, XRP is generally traded in the form of CFDs.
Ripple was co-founded by Jed McCaleb and Chris Larsen and was debuted in 2012 as both a digital disbursement network and a pre-mined digital coin denoted as XRP. Possessing less market cap than both Bitcoin and Ethereum, Ripple ranks as the third-largest cryptocurrency.Its dual open-source and peer-to-peer (P2P) decentralized platform whose network is capable of working with any form of money such as GBP, Ethereum, Yen, etc. What is Ripple Used For? Known as a gateway, participants of Ripple may send and receive currencies to public digital address codes through the Ripple network. You can think of a gateway as a payment intermediary for Ripple. Serving as a bridge currency, XRP allows for a seamless exchange of any currency (fiat or cryptocurrency) due to each currency possessing its own gateways such as BitPay, CoinsBank, Blockonomics, and CoinGate. Unlike Bitcoin, the Ripple network does not support proof-of-work (PoW) or proof-of-stake (PoS) systems. Instead, a consensus protocol is employed to authenticate and verify that each transaction and account balance match.This ensures the integrity of the Ripple network while lessening the risk of double-spending, all while these confirmations take no longer than 4 seconds to complete.Ripple’s IOU gateway is similar to the traditional banking systems, where contractual obligations are upheld while the potential of transactions defaulting is a constant variable with counter-party risk. Coincidentally, banks are said to be increasing their usage of the Ripple payment system while its market cap shows evidence of its value and demand. All transactions performed over the Ripple network are logged and may be seen on the Ripple consensus ledger. For trading, XRP is generally traded in the form of CFDs.
Read this Term, EOS, Polkadot, and Kusama. Most postal services are ridiculously slow in embracing novel technologies. But the Croatian Post has even launched a Crypto Center website to educate citizens about the asset class and provide other useful information.
Closing thoughts
Cryptocurrencies are getting more and more popular worldwide, despite the massive volatility and regulatory restrictions in many parts of the world. A growing number of businesses are accepting crypto payments from their customers. Now that more than 300 million people worldwide own cryptocurrencies, it has become more difficult than ever before for businesses to watch from the sidelines instead of getting onboard the crypto ship.
