- South Korea began its efforts to digitize its currency using blockchain technology about a year ago.
- South Korea, China and Japan have made significant strides in digitizing their local currencies.
- South Korea has started pilot projects with Samsung, an important threshold for digital victory.
Electronics and mobile phone giant Samsung is developing a wallet app that can be used on smartphones for digital money.
The wallet will support not only a digital currency but also many cryptocurrencies such as Bitcoin and Ethereum.
An important feature of the wallet developed by Samsung for digital winnings and cryptocurrency signals is that it can be used offline.
The digital currency that the South Korean central bank is working on has strong private sector stakeholders:
- Kakao;
- Klaynt;
- Samsung are some of these stakeholders.
The central bank is expanding its spectrum to increase the potential use of the digital won.
The fact that cocoa, which is very popular in South Korea, is among the participants in the digital victory significantly increases its potential – say the analyst of SafeTrading.
Thanks to blockchain technology, countries want to take advantage of blockchain technology by digitizing their own currencies.
Blockchain networks create a very secure network compared to centralized networks.
Money transfers can be made faster, safer, and cheaper than traditional methods such as SWIFT.
With the digitalization and of national currencies, users will be able to transfer money and make payments 24/7 without the need for banks.
An overview of Bitcoin price mobility.
Bitcoin remains remarkably stable, with the largest in the industry currently approaching $ 48,000.
There are many different reasons for the uptrend this time around, and if you like, let’s look at those reasons together.
One of them is the subject of taxation, which we wrote about recently.
The United States has begun taking formal steps to strengthen the legal framework, and we think this detail has positively changed the course of Bitcoin cryptocurrency signals.
The steps taken by cryptocurrency exchanges should not be overlooked.
Equity markets, which are continuing their steps to create a safer and more selfless space for investors, are one of the most important drivers of Bitcoin’s rise.
With the elimination of futures, the bitcoin rate changed, and we became familiar with the green color.
It seems that the $ 50,000 level will be passed very easily, and once this point is exceeded, it will confidently move back to the $ 60,000 level.
Bitcoin, which has managed to make a name for itself with a record it broke over the course of a year, could easily reach a similar level.
With this activity, which began in the last days of July, the largest digital asset in the industry to date has reached $ 46,125.
When SafeTrading compares it with historical data, our team can clearly see and can say that it lags behind by 26%.
The SafeTrading team can say that the fall in gold, along with the actions of the Fed, benefited Bitcoin and other assets.
Now there is a colossal upward trend, and according to experts, this growth will reach the level of 60,000 dollars.
We would like to tell investors that they still need to be careful.
One of the most volatile assets in the industry, Bitcoin, although it attracted attention with its historical data, suddenly experienced a strong fall and caused large losses to its investors.
We often warn investors that such things do not happen, and in fact, expert advice is in this direction.
Although your coins stack in a short time, they can melt at the same time. This is why you must be careful at every step.
First full blockchain merger: Polygon acquires Hermez.
- Indian crypto firm Polygon has announced the acquisition of yet another blockchain project, Hermez.
- Hermez is a massive project based on zero knowledge (ZK) cryptography.
- Polygon will pay $ 250 million for this acquisition.
- The company will pay this amount with its own MATIC token.
This acquisition will also mark the first full-fledged merger of two blockchain projects.
Because all elements of the Hermez project, namely its technologies, live solutions, the team and the HEZ token, will be integrated into the Polygon ecosystem.
The new venture, resulting from the merger of two blockchain companies, will operate under the name Polygon Hermez.
Polygon Hermez will be part of the growing Polygon suite, which already offers many solutions such as Polygon PoS, Polygon SDK, Polygon Avail.
Polygon has made the following announcement about this new development:
“We have publicly announced ZK-based solutions as our strategic development direction. After explaining this merge, we took the first big step in the area of ZK scaling. We will continue to share more details on this strategic decision and our plans for ZK. ”
What about the HEZ token?
- Following this merger, HEZ token holders will be able to exchange their coins for MATIC, Polygon’s own token.
- For this, a swap contract will be published soon.
- For this change, a ratio of 3.5 MATIC – 1 HEZ was determined.
- This swap rate was determined based on the prices of the respective tokens as of August 4, 2021.
MATIC, on the other hand, will remain the sole native token of the Polygon ecosystem and replace HEZ in the mission to move Polygon Hermez forward.
Polygon reports that this blockchain merger is their first step in the ZK solution space.
This is a strategic step for the company, and $1 billion has been allocated from the treasury to develop solutions based on ZK.