Countries are intrigued by the huge opportunities emerging in the cryptocurrency market. What is more, the hope is that “cryptocurrencies” will revive the country’s economy.
As we know, so far the countries that have strongly supported “cryptocurrencies” are: east Asia for Japan and South Korea, southeast Asia for Singapore, Europe for Malta and Greece, South America for venezuela and so on. But some countries are in order to grow and develop, but some are desperate, unable to save the market. So can the state save the market by “parallel cryptocurrency”? Today, we will be a brief analysis.
Take the Greek debt crisis, for example. Greek Banks reported that they were working on an emergency plan for depositors to deal with creditors, and that they would have to come up with relative emergency measures to save the market if Greece were to gradually collapse. So Greece’s eyes turn to “parallel cryptocurrencies.” will Greece choose parallel cryptocurrencies?
Greece, in addition to being famous for the acropolis, is also internationally renowned for its debt problems. The root cause of the Greek debt crisis is that the competitiveness of the Greek economy is relatively weak, the level of economic development is relatively low among eurozone countries, and the economy is mainly supported by tourism. After the outbreak of the financial crisis, the number of tourists around the world has been greatly reduced, which has caused a great impact on Greece. At the same time, Greece exports less and imports more, and has a long-term trade deficit within the euro zone, leading to capital outflow, so it borrows to live.
legal or virtual currency
Forced to find a way out, Greece has no choice. The mayor of Agistri, Greece, has embarked on a bold “blockchain test”. The point is: a blockchain-based digital currency is the best option for tourists in Greece.
Events similarly – at the beginning of 2013, a small European country Cypriot government in order to get external rescue party benefits, such as the European Union, launched a severe deposits tax, capital controls, imposing a tax on bank depositors, tax rate is as high as 20%, the people of the backlash, in order to prevent property shrinkage, can the COINS as a store of value investment products, to buy the currency, then the currency prices from the original a few CNY, a once rose to 8000 CNY.
Instead, it seems, the external debt crisis has catalyzed the development of cryptocurrencies. But countries do not give up their legal tender for “virtual currency”. But what happens if they do both?
Let’s imagine that countries launch their own cryptocurrencies and start converting fiat currencies into cryptocurrencies, thus advancing their centrally managed programs to save the central bank from losing its edge on currency manipulation. Sounds like it’s still working.
But Greece lacks the resources to issue a legal cryptocurrency linked to oil or gold.
Instead, venezuela has done the same: it has announced the pre-sale of petrodollars, the world’s first legal digital currency.
By issuing digital currency, venezuela intends to solve the problem of legal currency inflation in the country, so as to save the danger of economic collapse and break through the economic sanctions imposed by the United States and the European Union.
But the situation is difficult to break through and reverse. After all, because of venezuela’s past “credit problems”. Petrocurrency is not only difficult to attract international buyers. But even venezuelans do not buy petrocurrency in large quantities. At the same time, the authorities have not perfected the details and rules of digital asset management. And the oil price remains low and output keeps falling. Making it difficult for “petrocurrency” to become a real currency.
It can be seen that all as capital economics analyst said. “virtual currency can not solve the fundamental problem of fiat currency inflation.” At present, there is no successful case that the cryptocurrency can successfully save the market. But it is more effective in theory, and more exploration and innovation are needed in reality.
In recent days, several new DApps are available on VenaPi. Let’s have a quick look at these new DApps.
This is a dice game, however, what attracts people more is TronAce is the first IEO project of TRXMarket. So this game is popular from the very beginning, when IEO, all tokens are sold just during less than 6 seconds!
Unbelievable, isn’t it?
In past time, Bethash mainly runs on EOS, and it is DApp on EOS with the highest dividends. It keeps div of annually 120%, and up to 300%. After coming to TRON, Bethash keeps the high dividends.
The game can be also played on ETH, IOST, you can even use BTC to bet.
A new game just be released for several days and performs really well. It puts poker and dice together as if you can play 2 games together. Actually, it is a dice game with poker factor, and you may want to try such a unique game.
Recently, the Japanese media COIN OTAKU published an article. TRON announced that the DApps platform would abide by Japanese laws. The article mentioned: the TRON foundation announced on March 31 that it would comply with Japanese laws in its DApps dissemination activities in Japan. One of the reasons this event was reported by Japanese media is that TRON. As the DApps platform of crypto assets, is the first case in Japan to show compliance with Japanese laws.
COIN OTAKU is one of the largest cryptocurrency and blockchain media under the leadership of kenji ITO. A well-known figure in the local currency circle in Japan, as the editor-in-chief, providing Japanese investors with high-quality and important blockchain news.
For the TRON ecology, the trc20-based USDT comes online, which is a big deal! TRC20 version of USDT was released by Tron in cooperation with Tether, for which Tron launched an early user incentive program worth 100 million RMB.
From May 7 to August 14, solstice, TRON will join hands with the world’s top digital asset exchange, huobi, OKEx, etc., to provide free USDT payment in the form of TRC20 version of USDT token interest rate reward, encouraging users to convert usdt-omni to trc20-based USDT.
The incentive scheme, which runs until August 14. He will give bitcoin holders a daily return on the interest they earn from the airdrops. With up to a 20 per cent annualized reward. In response to this award. Many netizens expressed that they did not understand: what advantages would USDT play in the Tron network? What exactly is the 100 million RMB incentive plan?
Previously, Justin Sun, founder of TRON, conducted a live broadcast on a live broadcast platform to answer relevant questions about Tron ecology for community partners. Let’s look at video!
On April 28th, VenaPi wallet completed the swap of USDT-TRON. Users can check their USDT deposited in VenaPi, which has been swapped into USDT-TRON in your wallet now.
VenaPi now is contacting Tether to see when to open the 2nd swap. If users missed the 1st swap, or want to continue to swap more, please keep on focus in telegram group t.me/venapi for the latest news of the swap.
Another news is announced by TRON official. The 20 million USDT-TRON airdrop activity will postpone to begin from 7th May 0:00 UTC + 8.
Here is notice from TRON official for your reference:
We’re closely following events with @Tether_to in NY. We’re however seeing amazing demand for #TRON based USDT and will postpone our 20M Incentive plan till May 7th 0:00(UTC+8), so exchanges have more time to complete the swap. New Incentive plan schedule: https://tron.network/usdt
On April 25, Justin Sun, founder of TRON, tweeted that the total amount of USDT developed based on the Tron network TRC20 protocol，It has exceeded 100 million, accounting for 3.5 percent of the total amount of current USDT issuance. It is reported that the total amount of current USDT issuance is 2.8 billion. In addition, Justin said, it is hoped that the USDT distribution proportion of TRC20 version will exceed that of erc20-usdt in the second quarter. And reach 50% of the total circulation in 2019.
TRC20 version of USDT was released by Tron in cooperation with Tether. For which Tron launched an early user incentive program worth 100 million RMB. From April 30 to August 7, solstice, TRON will join hands with firecoin. And also, OKEx and other top digital asset exchanges in the world to provide free and generous interest rate rewards.It’s about in the form of trc20-based USDT token.It encouraging users to convert usdt-omni to trc20-based USDT. The incentive scheme, which runs until early August. It will give holders a daily return on the interest they earn from the airdrops. With up to a 20 per cent annual bonus.
According to Justin Sun, founder of TRON, Tron has officially reached strategic partnership with English premier league powerhouse Liverpool football club. Premier league powerhouse Liverpool football club has sent us an invitation to cooperate with TRON on a strategic basis.
Liverpool fc is an English football club located in the port city of Liverpool. merseyside in the northwest of England. It was founded on June 3, 1892. Liverpool dominated English and European football in the 1970s and 1980s. And they have won 18 top league titles, seven fa cups, eight league cups. Five champions league titles and three uefa cups.