Samsung Partners with Ripple – UNICEF Creates Cryptocurrency Fund – Tarbert Calls Crypto Commodity

By Steven Anderson October 12, 2019 0
ripple samsung unicef

Sang W. Ahn, vice president of Samsung Electronics America, stated: “Money Transfer is the first step in our vision to evolve Samsung Pay into a platform which will make the financial lives of users very convenient.”

Samsung is partnering with Ripple concerning international remittance.  The service will be made available only to those in the US except those from Oklahoma.

The UNICEF has launched a new cryptocurrency fund. With this fund, UNICEF will be able to receive, hold, and disburse the different donations made in cryptocurrencies.  The UNICEF have approved Ether and Bitcoin for donations.

Thus, cryptocurrency is welcomed in humanitarian and development work, which is a significant and welcome step.

Henrietta Fore, UNICEF’s Executive Director, stated: “If digital economies and currencies provide the potential of shaping the lives of forthcoming generations, it is important for us to explore the opportunities which they offer.”

The sooner the funds were announced, the contribution came from Ethereum Foundation.  Per the new guidelines, the cryptocurrency will be held in the fund, and it will be disbursed without any currency conversions.

Aya Miyaguchi, Executive Director of the Ethereum Foundation, stated that they are excited to demonstrate what ETH and the blockchain technology can do for the communities from across the world.

It was an impressive start for Bitcoin Cash this week, but despite that, it fell to its lowest value and lost most of its value. Over the past 24 hours, Bitcoin Cash lost nearly 3% of its value. Almost 20% of other cryptocurrencies managed to make some slight gains, though despite the overall red market.

Bitcoin Cash is growing in the Network Security area, thus providing proof for the fact that the development for the cryptocurrency is in the growth phase.  The hash rate for Bitcoin Cash has been on a steady rise since June.  The Bitcoin SV did not have a decent hash rate as it has been diminishing gradually over the same period.

CFTC chairman has confirmed Ether the cryptocurrency to be a commodity. 

Tarbert stated that he did not believe that Ether was security.  “We’ve been very clear on bitcoin: bitcoin is a commodity. We haven’t said anything about ether – until now,” Tarbert said. “It is my view as chairman of the CFTC that ether is a commodity.”

Tarbert has further argued about treating each new cryptocurrency.  He stated that each new coin should be processed based on how it has been created.

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