Ripple Boosts Cross-Border Transactions in Brazil With New Payment Solution

October 3, 2024 Bitcoin.com

Unbound Fund Offers a New Path to EU Citizenship With Bitcoin Investment

July 24, 2024 Bitcoin.com

Blockchain is fueling this emerging tech hub in Portugal: Madeira Blockchain 2023

December 10, 2023 Coin Telegraph

Game studios quietly integrate blockchain without the buzzword

December 6, 2023 Coin Telegraph

Madeira seeks to boost economy with startups, innovative payment system

December 2, 2023 Coin Telegraph

Coin Telegraph

The Madeira Blockchain 2023 conference showcased the region's efforts to become an emerging technology hub in the Atlantic.

An archipelago in the middle of the Atlantic is seeking startups and tech talents to boost its economic growth.

Portugal's Madeira archipelago has been praised for its natural beauty, but an aging population and pressing need for a more diversified economy prompted its local government to explore emerging technologies, such as blockchain.

According to Rogerio Gouveia, finance secretary of the regional government of Madeira, emerging-technology companies make up nearly 30% of businesses in Madeira's free trade zone, a special economic area that offers tax benefits to companies, including one of the lowest corporate tax rates in the European Union and capital gains tax exemption for eligible firms.

"For companies aiming to establish a presence in the region, the foremost tax incentive is found in the Madeira free zone or the International Business Center.

*Portugal's Madeira Island. Source: David Pogue/Pixabay*

One of the companies behind Madeira's Web3 ecosystem is Yacooba Labs, a software development company using blockchain technology for ticketing solutions, addressing issues like overpriced secondary markets and fraud on tickets.

In addition, Madeira's tax incentives are associated with other initiatives aimed at shifting the region's focus from tourism to a technology-based economy, including an emphasis on information technology education in local schools.

Web3 should draw newcomers, not be a ‘money grab from brands’ — Tech CEO

November 17, 2023 Coin Telegraph

Amy Peck

Using Web3 and NFTs to create another slate of millionaires isn’t a good use of the technology, says EndeavourXR CEO Amy Peck.

The crypto industry should focus on building blockchain-based solutions everybody can benefit from instead of launching cash grabs for brands, says Amy Peck, CEO of tech-focused consulting firm EndeavourXR.

Peck told Cointelegraph at the Lisbon Web Summit that Web3 firms should be build-first oriented and create attractive products to draw newcomers.

She added using Web3 and nonfungible tokens (NFTs) as “just another money grab from brands” to create another slate of multi-millionaires “doesn’t seem like a good look” nor a good use of what is an “elegant technology.”

“This is an infinite landscape. The money’s going to be there, right? Let’s build a better bread box. We have the opportunity to do something really interesting and reinvent this economic construct, invite more people to the party, not just create another 1%.”

Obtaining an on-chain proof of identity, taking control and ownership of one’s data, connecting blockchain-based assets to the real world and interacting in the creator economy are among the top things Peck says builders should focus on to extract the most value from Web3.

Following FTX’s collapse and other industry shortfalls, Peck said much of her firm’s client base says they “don’t want to touch crypto” and that “Web3 is all shenanigans.”

*Lisbon Web Summit on Nov. 16. Source: Joe Hall/Cointelegraph*

Peck acknowledged it’s currently unrealistic for big brands to fully transition to Web3 but says there’s already a “Web2.5 center lane” that these firms can leverage.

Providing consumers with more control and ownership over their data is already possible with blockchain, Peck stressed.

She added a more “transparent exchange” is becoming more crucial than ever, particularly with the emergence of devices collecting data such as fingerprints and faces.

“What is coming with these immersive devices is biometric data that will allow the people who own that data to know more about us than we know, and the level of manipulation will be exponential.”

On cryptocurrency exchange-traded funds, Peck said it’s great that Wall Street firms are now taking the industry seriously but is wary that they will try to twist what has been built to suit their liking.

“They’re going to try and wrestle it to the ground and make it behave like these existing financial mechanisms.”

Magazine: Singer Vérité’s fan-first approach to Web3, music NFTs and community building

Additional reporting by Joe Hall.

Head of Portugal central bank deems crypto unsustainable, calls for global regulation

October 3, 2023 Coin Telegraph

Coin Telegraph

Mário Centeno praised the European Union’s first comprehensive crypto framework, MiCA, but insisted on further international consolidation of regulatory efforts.

Mário Centeno, the governor of Banco de Portugal, joins a chorus of regulators claiming that national efforts to oversee crypto wouldn’t work correctly without a global framework.

*A section of Mário Centeno’s speech. Source: Publicnow.com*

In his opening speech at the 2023 Banco de Portugal Financial Stability Conference on Oct. 2, Centeno called for international cooperation to set up a “robust framework” and avoid the possibility of “regulatory arbitrage:”

“It would be short-sighted to believe that regulating and supervising these global risks and international players at the national level will suffice.”

Speaking of crypto assets and decentralized finance, Centeno mentioned the “undeniable risk” of their inviability in the long run. The official expressed his disbelief in the democratizing potential of digital assets and even their ability to ultimately survive:

“These volatile products experienced an enormous surge in popularity during the COVID-19 pandemic but proved to be unsustainable and, unsurprisingly, culminated in the collapse of several products.”

Centeno praised the European Union’s first comprehensive crypto framework, the Markets in Crypto-Assets (MiCA) regulations, but insisted on further international consolidation of regulatory efforts under the principle of “same risk, same regulation.”

Roughly the same sentiment was recently expressed by the executive director of strategy, policy and control at the German Federal Financial Supervisory Authority. In a blog post, Rupert Schaefer acknowledged the apparent progress in regulating crypto with MiCA adoption in the EU but prompted about the inconsistencies existing on a global scale.

In August, Indian Prime Minister Narendra Modi also called for global collaboration on formulating crypto regulations during the annual G20 summit.

Collect this article as an NFT to preserve this moment in history and show your support for independent journalism in the crypto space.

Spain a Hotbed for Cryptocurrency Real Estate Deals, According to Study

March 7, 2023 Bitcoin.com

Italian Parliament Approves 26% Tax for Cryptocurrency Gains in 2023 Budget Law

January 2, 2023 Bitcoin.com

Spain for the win? Top 3 fan tokens to watch during the FIFA World Cup

November 19, 2022 Coin Telegraph

Altcoin

Spain, Portugal and Brazil national teams' fan tokens are experiencing a price boom as the World Cup gets underway.

The FIFA World Cup in Qatar is boosting the value of national soccer team fan tokens despite the cryptocurrency bear market.

World Cup Qatar hype boosts fan token prices

These digital fan tokens are currently rallying despite the cryptocurrency market downturn, securing up to 170% gains from the Nov. 10 lows. At the core of the massive uptrend is the World Cup, which will be held from Nov. 20 to Dec. 18 in Qatar.

Fan tokens are cryptocurrencies that enable fans to engage with and participate in their favorite team's decisions. Moreover, they create new sponsorship opportunities for sports clubs and national squads outside of traditional revenue sources.

Here's a brief overview of the top gainers in the fan token sector, alongside their technical outlook during the course of the World Cup.

Spain National Football Team Fan Token (SNFT)

The Spain National Football Team Fan Token (SNFT) emerged as the top gainer in the sports token section, rising 170% to a high of $0.54 on Nov. 19, nine days after bottoming out at $0.20.

*SNFT/USD daily price chart. Source: TradingView*

SNFT's outperformance versus other fan crypto tokens may reflect the Spanish football team's higher odds of winning the World Cup in 2022. But in traditional terms, Spain's odds of winning the trophy is +800, meaning betting $100 would yield $800, according to Vegas Insider.

From a technical perspective, SNFT trades inside a neutral zone, as confirmed by its daily relative strength index (RSI) at around 58, below its overbought threshold of 70.

In other words, SNFT shows potential to continue its rally during the World Cup and its price should reflect how the Spain National Football team performs.

For instance, back-to-back wins for Spain may stretch SNFT's valuation above its current resistance level of $0.538 for a potential run-up toward its record high near $0.718, as shown in the four-hour chart below.

*SNFT/USD four-hour price chart. Source: TradingView*

Conversely, a pullback from $0.538 could have SNFT eye a correction toward $0.412, down about 18% from today's price.

Spain will next play Costa Rica on Nov. 23 in the Group E category, followed by a standoff against Germany on Nov. 28.

Brazil National Football Team Fan Token (BFT)

The Brazil National Football Team Fan Token (BFT) appears to be the crypto market's second favorite fan token. Its price has rallied 130% in just nine days, from $0.45 on Nov. 10 to over $1 on Nov. 19.

*BFT/USD daily price chart. Source: TradingView*

Brazil is the favorite to win the World Cup this year with +350 odds in traditional betting circles, meaning a $100 bet would return $350. That could serve as a fundamental factor behind BFT's growth in the coming weeks, given the token still has room to run based on its neutral daily RSI.

As of Nov. 19, BFT eyes a breakout above $1.05, its current resistance level, toward its short-term upside target at around $1.16. An extended rally could occur if Brazil wins the World Cup on Dec. 18, paving the path toward $1.31, up 25% from today's price.

Conversely, a pullback would risk sending BFT toward $0.82, its October 2022 support level.

Brazil's first match is against Serbia on Nov. 25 in Group G, followed by a standoff against Switzerland on Nov. 28.

Portugal National Team Fan Token (POR)

The Portugal National Team Fan Token (POR) is the third-best performer in the ongoing fan token boom, rising about 100% to $6 on Nov. 19, nine days after hitting lows of $3.10.

*POR/USDT daily price chart. Source: TradingView*

Traditional bookies measure Portugal's odds of winning the World Cup at +1600, meaning betting $100 would yield about $1,600.

POR now tests $6 as its resistance, with its daily RSI near 64, just six points below its overbought threshold. A decisive pullback from the said price ceiling could have POR eye a correction toward $4.80, its support level from September-October 2022.

Conversely, continued success in the World Cup for Portugal may flip the scenario to bullish, leading POR above its $6-resistance to eye a rally toward or above $7.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Portugal

World Cup Qatar hype boosts fan token prices

Spain National Football Team Fan Token (SNFT)

Brazil National Football Team Fan Token (BFT)

Portugal National Team Fan Token (POR)

Share this video