SparkleCOIN Is Using the Blockchain to Make Cryptocurrencies Accessible for Everyone 3 1283

Cryptocurrencies, along with the broader implications of blockchain technology, are poised to disrupt core pillars of our modern economy. By scaling adoption of these digital assets, we can sustain levels of accessibility, liquidity, and security that society has never before seen in a fiscal system.

SparkleCOIN, a hot blockchain startup, is on a mission to accelerate this shift by developing a platform to support and foster the rise of cryptocurrencies into mainstream business and consumer markets. At a high level, they do this through the creation of the SparkleCOIN ecosphere, a collection of companies that leverage the blockchain to solve for three of the biggest problems in crypto today: accessibility, consumer demand, and convenience.

Accessibility

One systemic problem plaguing the “crypto-economy” is the inaccessible nature of most popular exchanges. Without access to consumer insights, most new coin offerings never reach “true levels of liquidity” because they do not have sufficient market exposure. And even those lucky enough to time and negotiate the exchange correctly, are often unable to transact with fiat currency. These are both limiting factors that will delay, and in the worst case, prevent adoption of a decentralized monetary network.

Thus, the SparkleCOIN team has created the VCoin Exchange, a component of the Ecosphere, which resolves many of these issues by providing an “instantaneous trading platform for SparkleCOIN to be traded with US Dollars, as well as Bitcoin and Ether.” This lowers the barrier to entry for new blockchain projects and makes it easier for different parties to participate in this growing matrix.

Consumer Demand

Another big technical obstacle, stagnating growth, is that the mass market consumer cannot easily and conveniently acquire and spend cryptocurrencies. They are bounded by the supply of potential outlets to transact their capital, and therefore, are less incentivized to acquire the coins in the first place.

VCoinMall, another piece of the SparkleCOIN ecosphere of companies, enables customers to shop (and spend cryptocurrency) with a number of the biggest and most trusted online brands and websites. Massive players, like Walmart, Amazon, Bed Bath & Beyond, and Staples, are all bought into the network, effectively making it so any consumer can spend their currency wherever and whenever they like, without facing extremely high fees, security risk, and long delays. This “peer-to-peer e-tailer” is the first universal marketplace for customers to find retailers who accept cryptocurrency.

Convenience

The final, and perhaps most critical element of SparkleCOIN’s ecosystem, is the VCoin Exchange’s payment gateway which has the potential to become the Paypal/Stripe of the blockchain generation.

Currently, there are no convenient and inexpensive services which empower startups with the ability to accept cryptocurrency transactions. The modern, yet still friction-ful answer is to build out a cumbersome engineering organization that can, after thousands of lines of code, provide a work-around solution. This is inefficient, non-standardized practice is not seamless enough to scale and support a global economy. And, as startups are all about moving quickly, has prevented many companies from offering a cryptocurrency payment service to their customers.

With the VCoin Exchange integration, partner retailers can, in just a few taps, open their stores to begin accepting payments via cryptocurrencies. It hinges on their payment gateway, which automatically integrates with most, if not all, of the existing ecommerce platforms and networks. Rather than provide a bulky solution, SparkleCOIN focused on pillars of convenience and simplicity, which prioritize ease of integration to ensure all retailers will be able to quickly integrate. Over time, as major players begin to endorse this system, the VCoin Exchange plug-in will become the standard means of accepting payments due to network effects.

In today’s world, the benefits of technology are far outpacing the ability for society to keep up. There are tangible, solvable answers to many of the world’s biggest problems, yet we are lagging behind due to our inability to focus on what is really important.

SparkleCOIN, with the support of their growing community, is effectively bridging the gap between the benefits of frontier blockchain technologies, mainstream businesses (who run on legacy systems) and the general consumer public by “enabling secure B2B and B2C transactions.” This is an important step towards a fairer future.

Though SparkleCOIN’s efforts to introduce a blockchain monetary ecosystem may be just one, of the many necessary steps needed for society to begin embracing the benefits of blockchain (as well as other popular cryptocurrencies), it is important to recognize the inevitable effects of the first mover advantage. If executed efficiently, and at scale, SparkleCOIN could be able to secure key partnerships in the industry, thereby building a moat around their technology and solution for years to come.

This article was originally published on The Huffington Post on December 4, 2017.

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Starting her career on Wall Street at just 19 years old, Danielle went on to be one of the youngest equity traders in the industry. After a successful career in Financial Planning, she went on to found her media company What Vibes Your Tribe, which connects the worlds of digital marketing and public relations. Her experience in brand strategy along with successfully developing the thought leadership of C -level executives has played an integral part in her client's achieving prestigious awards such as Inc 500, Forbes Next Billion Dollar Startup, Entrepreneur 360 among other top level recognition.

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From Pandemics to Geopolitics: Major World Events Are Proving Accelerants for Digital Economy Adoption Comments Off on From Pandemics to Geopolitics: Major World Events Are Proving Accelerants for Digital Economy Adoption 263

It seems that we’re living through one historic and global crisis after another. Our universal “pause from history” seems to be over, with both natural and man-made forces creating epic challenges that are determining a new world order as we speak. While no one can predict the future, we can look to the past and be sure that challenging times accelerate innovation and disruption at a mass scale.

Take the Coronavirus pandemic. In just one year after the start of the pandemic, almost every aspect of our professional and personal lives was impacted by rapid digital transformation. A full 85 percent of CEOs indicated that their organizations had significantly accelerated digital transformation during the COVID-19 crisis. But, it’s not just companies. From remote working via video conferencing, to grocery delivery, our ability to adapt and to adopt a digital-first way of life increased – with little proof that we’ll ever go back to the “old way of doing things.”

The same is true for the geopolitical crisis that we’re facing now, which started with the Russian invasion of Ukraine. We’re already seeing clues that this global catastrophe is accelerating the implementation and adoption of digital assets within a greater digital economy. Whether it’s new uses cases for crypto or increased fervor around Central Bank Digital Currency (CBDCs), countries large and small and from regions around the world are leveraging digital assets during uncertain times.

In fact, in a recent letter to shareholders, Larry Fink, CEO of Black Rock, indicated that the Russia/Ukraine conflict will fast-track the adoption of digital currencies and payment tools to, “help bring down costs of cross-border payments, for example when expatriate workers send earnings back to their families.” Fink also went on to say that the current geopolitical conflict, “will push countries to reassess currency dependencies and look to means of payments that can bring down the costs of cross-border transactions.” Fink also acknowledged that his firm is experiencing growing interest from clients around digital currencies, something that has only increased since the Ukraine crisis began.

With the increased interest in large-scale adoption of digital assets, comes new insight about how these assets behave and the psychology around why people are flocking to them. Crypto is defying traditional safe-haven assets like gold – making moves that more closely mirror the equity markets than the commodity markets.

Beyond Ukraine, the sustained volatility of fiat currencies of countries like El Salvador, Paraguay, Nigeria, and many others, make digital assets like crypto and Stablecoins more attractive.

The aforementioned geopolitical factors combined with substantial progress in overall digital economy infrastructure development, technology innovation, and user experience, has created the perfect storm for accelerated adoption and use around the world.

Crypto in Ukraine

Crypto is being used as a force for good in the form of donations. Crypto users all around the world have donated more than $80 million since the start of the invasion. Additionally, $6.5 million raised as proceeds from a Ukrainian flag NFT auctioned off by the Ethereum-based group Ukraine DAO – making it the tenth most expensive NFT ever sold.

In addition to charitable donations, Many Ukrainians have turned to crypto to avoid the obvious problems with carrying large amounts of cash and/or trying to access bank accounts locally or abroad. Specifically, Ukrainian refugees are using crypto so they can convert it into fiat currency in a new country. While still volatile, this new digital asset may help many Ukrainians survive financially for the duration of the conflict.

Recently, Ukraine signed a law that will create a legal framework for digital assets. Among other things, that law is expected to help businesses manage crypto donations more effectively. Ukraine’s expedited regulatory actions and its efficient use of crypto funds is not happening in a vacuum. In fact, this pioneering activity is being noticed throughout the world – amplifying the many use cases of digital finance tools and increasing the public’s comfort level in leveraging them in a variety of ways.

Russia Accepts Crypto for Oil

At the same time, Ukraine is demonstrating the use of digital currencies to help their people and the defense of their nation, Russia just took a major step to leverage these assets as well – some would argue a nefarious one. In a recent and sizable turn of events, a report from Russian news agency RBC revealed that Russia will now accept Bitcoin as payment for their oil. Pavel Zavalny, Chairman of the State Duma Committee on Energy, stated that Russia will let “ally” countries trade Russian energy resources with their local currencies or in cryptocurrency.

Whether it’s a shock to some that Russia would take this bold step to evade sanctions or an inevitability by others who knew this move from Putin was coming, the point in all of it is that digital currencies are being thrust onto the international stage in new ways. Whether Russia’s use of crypto is good or bad is irrelevant. Their willingness to put Bitcoin to use in global trade has opened the door for others in the international community to use digital assets as payment mechanisms on a broad scale. This is a new chapter in the digital economy, accelerated by conflict and chaos.

China’s Digital Yuan Question

China became the world’s first major economy to pilot a digital currency in April 2020, aiming for widespread domestic use of the e-CNY, or digital yuan this year and beyond. It currently has more than a hundred million individual users and billions of yuan in transactions, according to the IMF. Plus, with China’s banning of all cryptocurrency transactions, it’s clear that the country is totally focused on the digital yuan’s success and dominance.

There’s no doubt that China wants to expand the digital yuan’s global influence, but how far are they willing to go? Could the geopolitical unrest in Russia offer China an opportunity to compete with the U.S. dollar? Could the stiff sanctions on Russia imposed by the United States, European Union, United Kingdom, and others give China an opening to establish digital finance supremacy there? These questions will have answers sooner than we think.

CBDCs as Efficient Money

“The history of money is entering a new chapter,” said Kristalina Georgieva, IMF Managing Director. “Countries are seeking to preserve key aspects of their traditional monetary and financial systems while experimenting with new digital forms of money.”

This is especially true in countries that are either experiencing recent unrest or have been dealing with decades of corruption, stagnation, and poor economic conditions.

  • Nigeria became the first country in Africa to launch a CBDC last October. The eNaira is stored in a digital wallet and can be used for contactless in-store payments, as well as for transferring money.
  • The seven countries that make up the Eastern Caribbean Union – Antigua and Barbuda, Dominica, Grenada, Montserrat, St. Kitts, and Nevis, Saint Lucia, and St. Vincent and the Grenadines, have created a form of digital currency to speed transactions and serve people without bank accounts.
  • Bitcoin became a legal tender in El Salvador, a move to boost the country’s economy, which for years has experienced low levels of economic growth. Most of the country’s population does not have a bank account and almost a quarter of the GDP comes from remittances sent from the large ex-pat community working abroad, benefitting around 360,000 households.

The move toward CBDCs continues to gain momentum, especially now as Central Banks look to bolster their economy in uncertain times. All told, around 100 countries are exploring CBDCs at one level or another. Some researching, some testing, and a few already distributing CBDC to the public (like in China). However, we will see these programs pick up speed to unprecedented levels over the next few months and years.

The Ukraine crisis has only sharpened the vision and hastened the rollout of digital asset programs in many countries around the world. The war is turning out to be the catalyst for action in the new digital economy.

A New World Order Driving a New Digital Economy:

The world’s monetary system looks to be on the edge of undergoing the biggest overhaul since the Bretton Woods agreement of 1944 when the USD was declared the world’s reserve currency and the IMF and World Bank were created. The tumult and turmoil of World War II led to that historic global financial transformation. While we’re still in the midst of the Russia/Ukraine crisis and cannot predict what will transpire next, we understand that momentous geopolitical events, like the one we’re experiencing, have reverberations that go beyond the borders of conflict. Nearly 80 years after Bretton Woods, the global financial system seems to be headed toward change once again – making way for a new digital economy – at a speed and voraciousness that just didn’t exist before now.

Tal Elyashiv, Founder & Managing Partner of SPiCE VC, is a seasoned executive and serial entrepreneur. Tal is considered one of the earliest visionaries of the digital securities space – a major vertical in the blockchain & tokenization ecosystem. His deep understanding of the digital finance ecosystem has enabled him to usher in a new era of venture capitalism with the founding of SPiCE VC.

The Bitcoin Bull Run: How It Started, How It’s Going Comments Off on The Bitcoin Bull Run: How It Started, How It’s Going 948

Wherever you stand on Bitcoin, there is no question about its impact on the role of blockchain and cryptocurrency within society.  Whether we look back to Pizza Day or to its heights in 2018, the volatile nature of the cryptocurrency has garnered much speculation and media coverage. 

While many looked at the past few years as a “Crypto Winter,” others saw an opportunity for Bitcoin.  Between COVID lockdowns, political, and fiat currency concerns, Bitcoin has been on a dream run – for a moment going over the $55,000 barrier.

Why Did Bitcoin Suddenly Explode (Again)?

Elon Musk and other influencers played a role in the recent rise in Bitcoin’s price. Tesla’s recent investment in an infrastructure to accept Bitcoin payments, and Apple Pay’s introduction of BitPay, a prepaid bitcoin MasterCard, are also major markers of market adoption. But two other events occurred that set the stage for the Bitcoin bull run: a pandemic and Bitcoin Halving.

Every four years, Bitcoin miners have their processing transactions cut in half. This reduction in supply then drives up prices based on scarcity. This occured in May 2020, when the economy was already at a standstill due to the pandemic. Since the supply of crypto coins is finite many think that there is lower inflation risk with using them – this means that it may be used as a hedge against U.S. inflation. In 2020, more than 20% of all dollars currently in circulation were printed, making crypto even more alluring. 

Crypto isn’t going anywhere. This year, experts project increased use of crypto cards, emergence of new cases, and increased investing from traditional finance leaders.

Take a look at this visual deep dive on the rise of Bitcoin for more information:

Bitcoin: Once A Diamond In The Rough, Now A Treasure

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