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Uber CEO Recognizes Possible Integration of Crypto Payments

Uber Technologies CEO Dara Khosrowshahi recently made statements that the ride-sharing company will accept cryptocurrencies in the future as the industry becomes “environmentally friendly” and less expensive.

In an interview with Bloomberg, Khosrowshahi said that the company “at some point” will accept cryptocurrencies, but acknowledged that he still has reservations about it because the “cryptocurrency exchange mechanism is expensive”, adding that such a method is also “not good for the environment”. .”

Khosrowshahi says Uber is still evaluating integrating cryptocurrency payments for its ride-sharing services, which have a global presence.

“Will Uber accept cryptocurrencies in the future? Absolutely. At some point. This is not the right time, but we will.” Khosrowshahi notes.

The executive noted that Bitcoin, along with other cryptocurrencies, has become valuable over time. Khosrowshahi is known as one of the early advocates of Bitcoin. During his 12-year tenure at Expedia, a travel booking platform, Khosrowshahi made the platform one of the first major merchants to accept Bitcoin as a form of payment in 2014.

“I think now what we see with bitcoin and some of the other [cryptocurrencies] is that they are quite valuable as a store of value,” Khosrowshahi said. “As the exchange mechanism becomes less expensive and more eco-friendly, I think you will see us leaning a little more towards cryptocurrencies.” he adds.

Uber has not made any definitive statements on the matter, other than those mentioned by its boss. Since its inception, Uber has not made any moves in the crypto space. Notably, however, Uber co-founder Oscar Salazar moved into the cryptocurrency industry by founding Voyager, a cryptocurrency exchange, in July 2018.

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What can Crypto do for the world?

When Bitcoin was first launched in 2009, no one knew the dramatic impact cryptocurrencies would have on our world. Today, blockchain technology is used everywhere, pioneering a technological revolution across the world.

The decentralized nature of cryptocurrencies has awakened people to the potential of their powers. With no banks or intermediaries of any kind, cryptocurrencies allow people to send payments, make investments and buy certain goods and services without limits. In addition, NFT, DAO and DeFi allow self-management of property rights, operations and financial services, respectively.

In addition to technological applications, people have discovered that cryptocurrencies can be used to do good, both for the planet and for humanity as a whole. In a project called “Cardano Forest”, Veritree, a restoration group that uses blockchain to track and verify restoration projects, has planted over 1 million trees in different parts of Madagascar, Indonesia, Nepal, Kenya, Senegal and Haiti. The operation was funded by Cardano’s philanthropic holders, with some donations reaching tens of thousands of ADA tokens.

Blockchain is perfect for project tracking and verification because of its immutable and transparent nature: transparency makes publicly stored data verifiable and immutability makes that data tamper-proof. These aspects also make blockchain ideal for managing digital asset ownership, enabling efficient issuance and trading of stocks and bonds on-chain.

Bob Eco Ltd, an environmentally-focused electric vehicle company offering electric two- and three-wheel vehicles in developing countries. Bob Eco is a pioneer in the digital asset space raising funds through something he calls “ICOWA” or “ICO with Assets”. ICOs, or Initial Coin Offerings, are fundraising events during which cryptocurrency projects sell utility tokens to early investors to raise capital. In an ICOWA, digital asset tokens are sold, not utility tokens.

Bob makes a difference by supplying electric motorcycles and electric tricycles in Africa. Bob Eco offers there on a self-rental basis, which are custom built to transport passengers and deliver food, packages and products.

Bob’s also offers a real-time exchange service that allows Bob’s riders to change their motorcycle batteries for free; this saves passengers about $4.40 in fuel a day, making them nearly four times as much as traditional gas-powered motorcycle taxis. Bob motorcycles are the world’s first mass-market electric vehicles that cost less to own, maintain and operate than a fuel-powered vehicle.

As African fuel-powered motorcycle taxis emit around 5 tonnes of carbon dioxide (CO2) every year, Africa’s 100 million motorcycle taxis emit 500 million tonnes of CO2 emissions every year. Bob’s goal is to see all motorcycle taxis go electric in the next 10 years, helping passengers and the world.

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American Express Sees Cryptocurrency As An Asset Class – Says Not A Short-Term Commercial Threat

American Express (Amex) views cryptocurrency as an asset class, according to CEO Steve Squeri. He added that at this time, the company does not see cryptocurrency as an immediate or medium-term threat to its business.

American Express CEO Discusses Crypto Strategy

American Express (Amex) President and CEO Steve Squeri answered some questions about cryptocurrencies during the company’s fourth-quarter earnings call on Tuesday.

Squeri said, “When it comes to cryptocurrencies, we look at cryptocurrencies… We think across the spectrum of digital currencies. We think about cryptocurrencies. We think about stablecoins. We think of central bank digital currency [CBDC].” The CEO continued:

At this particular time, we see cryptocurrency more as an asset class.

Regarding the use of cryptocurrencies as a currency for payments, he said, “it’s kind of hard to use that way.”

The American Express executive further noted, “And when it comes to blockchain, we have investments in blockchain companies… We constantly look at blockchain and ask ‘are there use cases for us?'”

Commenting on stablecoins and non-fungible tokens (NFTs), Squeri said, “As far as stablecoins and NFTs and things like that, obviously we are partnering with the NBA and Top Shot. And we will look for ways to get involved.”

However, the CEO revealed, “We are probably not going to offer a cryptographic card.”

He also opined:

We keep an eye on the cryptocurrency if it becomes more stable. But at the moment, I don't see this as an immediate or medium-term threat to our business.
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Cryptocurrency Exchange Giant Partners With LeBron James on Web3 Education Initiative

NBA star LeBron James is partnering with exchange Crypto.com to advance Web 3.0 development through education.

In a new blog post, Crypto.com says it is partnering with the LeBron James Family Foundation (LJFF) to provide education and access to participants in the nonprofit’s I Promise program.

James says he wants to ensure that people from disadvantaged backgrounds are not left behind as new technologies transform the world at a rapid pace.

“Blockchain technology is revolutionizing our economy, sports and entertainment, the art world and the way we interact. I want to ensure that communities like where I come from are not left behind.

Crypto.com and I agree on the need to educate and support my community with the information and tools necessary for inclusion.”

The I Promise program helps public school students and their families in James’ hometown of Akron, Ohio.

Singapore-based Crypto.com says of the initiative:

“Web3 promises to deliver a fairer and more equitable Internet owned by builders, creators and users. This promise can only be realized through the active participation of diverse participants.

Through this partnership, I Promise students and families will gain a solid foundation in Web3 and the innovations behind decentralized blockchain-based applications that drive the future of many industries, from finance to media and art.”

The partnership with the four-time NBA champion is the latest in a series of major deals that Crypto.com has secured with professional sports franchises around the world in recent months.

In November, the iconic Staples Center, where James plays for the Los Angeles Lakers, was renamed the Crypto.com Arena.

Other popular franchise sponsorships include Formula 1 Racing, the UFC, the NHL’s Montreal Canadiens and two European football teams.

Crypto.com Coin (CRO), the native token of the digital asset market, is currently up 2.4% on the day and is trading at $0.41.

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The Federal Reserve may reveal a national cryptocurrency

Many analysts are working to find out why Bitcoin suddenly had such a nasty drop in price. The world’s number one digital currency by market cap has fallen below the $40,000 mark after hovering there in recent weeks, and it looks like it could be because BTC is in line to face stiff competition from the Fed. Federal.

The Federal Reserve wants to issue a new cryptocurrency

The Fed released a statement explaining that it is looking into the possibility of issuing a national central bank cryptocurrency. The Federal Reserve has made it clear that it has no plans to go ahead with issuing the currency unless it has the backing of Congress and the White House. However, he is putting the situation out in the public and asking for comments.

The Federal Reserve is now involved in a study that aims to discover the benefits of these bank-issued currencies, and according to a new report, the benefits are pretty strong. More than anything though, the situation puts the US in a rather unique position, mainly because it seemed like the country would never go down that path given how loyal and dedicated it is to the US dollar.

Until this point, it was clear that only China was willing to enter the route of issuing a national form of cryptocurrency. In 2019, the country pulled back the curtain on the digital yuan, a virtual version of fiat currency that everyone uses to shop. The currency has been through a period of severe testing and has caused some people to wonder what, or even if, other nations would do the same. It looks like the United States could be next in line.

However, while the news is interesting, it appears to have produced some unpleasant results for BTC, which is down over $2,000 after the announcement. The report detailing the study says:

The Federal Reserve does not intend to proceed with issuing a CBDC without clear support from the executive branch and Congress, ideally in the form of a specific authorization act.

What will this do to the industry?

The situation is a bit confusing, as while that route may be unavoidable for many developed countries (after all, we’ve heard for years that cryptocurrencies are the way of the future), it’s possible that many true digital currency traders don’t be. intrigued by the idea of ​​a bank issuing a national cryptocurrency as this goes against everything crypto stands for.

Digital currency was initially designed to take power away from financial institutions and give it back to the people. These assets were built to give people a little more say in their lives and financial decisions. If these currencies are suddenly issued or controlled by banks, we can expect these freedoms to begin to dissipate, and the world of cryptocurrencies could become as centralized as traditional finance.