Cryptoactives: An efficient way to make cross-border payments

Distance work represents one of the most basic forms of income in the current time of the pandemic. In this sense, cryptoactives play an important role as one of the most efficient ways to make cross-border transfers.

Precisely, this was the topic of discussion on day 6 of the Indonesia Blockchain Week 2020. The guests highlighted interesting points in the importance of this type of transfers and the advantages that crypto currencies represent for them.

In fact, before the pandemic, telecommuting, that is, from one country to another, was already on the rise. Many international firms have been tapping into talent that does not exist within their own borders.

Cryptoactives as the most efficient form of transfer

There are multiple services that offer money transfers from one country to another. Some of them are the banks themselves, Western Union, PayPal, among many others. But they have high commissions for each transfer.

It is in this phase, explains the co-founder of the firm Switceo, Jack Yeu, in the BWI 2020, that cryptoactives become the most efficient form of cross-border transfers for many reasons. „Among the advantages of cryptoactives, the speed of transactions thanks to Blockchain and at the same time, the low commissions are highlighted“.

This, according to Yeu’s appreciation, offers great advantages to both the person who pays and the person who receives the payment. The most classic example, he continues, is telecommuting.

On the other hand, he explained that the digital payment methods are a new normality. He gave the example of Twitter. This social networking company assured its employees that they can now work from home forever.

Difficulties to use Blockchain in transfers

In a similar vein, Robin Schmidt, Harmony-One’s creative director, referred to cryptoactives as the only truly efficient way to make cross-border payments. This efficiency, he explains, is due to the superiority of the Blockchain network over any other banking system.

„A few years ago, as far as cross-border payments are concerned, people were already talking about Blockchain, but very little about stablecoins. Now, the reality is very different. This allows developers not to limit themselves in the use of any type of cryptoactives“, he explains, referring to the multiple options and efficient choices that this form of payments represents.

New ways of thinking about finances and money are opening up, he continues. However, he assures that there are many difficulties, since understanding the operation of the DeFi dedicated to payments with Blockchain, „requires a great level of understanding that not everyone has so far“.

Thinking about money without a bank, for many people means putting their money at risk on something they don’t know, says Schmidt. But the fees are still there and the Blockchain is becoming a necessity rather than an option, he said.

Cross-border payments have become a common denominator during this pandemic; cryptoactives represent the most efficient form of them.
Cross-border payments have become a common denominator during this pandemic, and cryptoactives represent the most efficient form of them.
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Alexander Vinnik, o lavador de moedas de bitcoin acusado, poderá em breve enfrentar um julgamento na França.

De acordo com a agência de notícias Agence France-Presse (AFP), um juiz de Paris ordenou que o cidadão russo fosse julgado por extorsão, lavagem de dinheiro, associação criminosa e acesso fraudulento e modificação de dados em sistemas de processamento de dados.

De acordo com o relatório, as autoridades francesas acusaram Vinnik de defraudar mais de 100 pessoas em um total de 160 milhões de dólares entre 2016 e 2018. Vinnik foi preso na Grécia em 2017 a pedido das autoridades americanas e depois foi extraditado para a França.

Alexander Vinnik é acusado de lavar 3,4 bilhões de dólares em bitcoins.

O residente russo Alexander Vinnik, também conhecido como „Sr. Bitcoin“, é acusado de lavar 300.000 Bitcoin, o que representa cerca de US$ 3,4 bilhões em tempo de imprensa ao longo de seis anos através da agora defunta troca criptográfica BTC-e.

Vinnik foi preso durante umas férias na Grécia em 2017 por uma acusação dos Estados Unidos e posteriormente extraditado para a França em janeiro. O acusado de lavagem de Bitcoin Evolution está aguardando julgamento por vários meses na França, pois foi extraditado para o país europeu no início deste ano.

O acusado de lavagem de moedas é também procurado nos EUA e na Rússia.

O lavador de moedas acusado de Alexander Vinnik solicitou anteriormente sua extradição para seu país de origem, onde alegadamente enfrentaria acusações menores envolvendo defraudar as vítimas em 11.000 dólares. As autoridades russas lutaram muito para levar Vinnik de volta ao seu país de origem, mas a corte grega o extraditou para a França para enfrentar muitas acusações severas.

Após seu julgamento na França concluir, Vinnik poderia ser devolvido à Grécia para enfrentar a extradição para os Estados Unidos, onde as autoridades alegadamente querem questioná-lo a respeito de sua conexão com o infame hack do Monte Gox. Parte do Bitcoin da BTC-e pode ter vindo da agora extinta troca criptográfica japonesa.