Bitcoin Adoption is Gaining momentum
Cryptocurrencies can also become a tool for de-dollarization of a number of developing economies, especially those that do not have excellent relations with the United States.
This happened with El Salvador, who, as our readers remember, chose Bitcoin as a legal tender, and, according to rumors, this could happen with Turkey, although at completely different levels. Now Iran also seems to want to consider this option, at least for international payments.
Iran is choosing a cryptocurrency for international payments, and implementation is coming soon. Great news for the cryptocurrency sector, which can offer the highest functionality in this type of transaction.
Is Iran ready for International Crypto Payments? It seems that, at least according to Ibena, which reports that CTS, an exchange system under the direct control of the Iranian state, may soon introduce systems for making and receiving payments using cryptocurrency. This obviously includes Bitcoin, which is explicitly mentioned in the document, as well as other cryptocurrencies.
They also talk about restrictions in some countries with the largest volume of trade with Iran, such as Iraq, Afghanistan and Pakistan, but also about many countries where crypto payments will be common and legal, such asIndia, as well as the countries of Southeast Asia.
We will know more when the final implementation of the protocol takes place in the next two weeks. Of course, this movement, although it will not lead to the movement of very important volumes, nevertheless, is an important signal about how the adoption of cryptocurrencies by non-aligned countries is taking place. In short, those who will be interested in getting rid, at least partially, of the US dollar.
It won’t be another Venezuela
For some, the parallel with Petro, bordering on Venezuela’s cryptocurrency scam, will seem obvious. In reality, the situation is completely different: the Iranian exchanger actually relies on reliable cryptocurrencies, such as Bitcoin, and not on tokens issued by the state.
Others, however, will dispute the fact that the PTS finds a place among non-aligned countries. But we also know that Bitcoin is an incredible tool of freedom, and that, contrary to claims, it will help people living in the worst regimes.
This will happen in Iran, as well as in El Salvador, and soon, according to Nayib Bukele, in at least 2 more countries.
Well, that’s not all.
Bitcoin, Ethereum, Dogecoin and Shiba Inu Coin are accepted in Real Estate
A New Haven for Crypto Payments Opens
More acceptance, another step towards the inevitable future. Harbor Custom Development company, which may not be very well known in our area, nevertheless is listed on NASDAQ, announced that it will start accepting various cryptocurrencies as a payment method.
Bitcoin will be included in the first batch, which starts on January 24, along with Dogecoin, Shiba Inu Coin and Ethereum – a curious-looking mix, but it signals which cryptocurrencies are of the greatest interest.
The cryptocurrency will be used to pay for real estate, and Harbor Custom Development will take care of it. We are talking about a company that has a certain value in the United States, and has been listed on the NASDAQ exchange for some time, with a decent capitalization for its sector.
However, the important news for us cryptocurrency enthusiasts is that it will be ready to accept at least four cryptocurrencies as payment for all the goods and services it offers. We are talking about apartments and real estate, mainly in Washington, Texas, Florida and California. Payments that will currently be active only for residents of these states.
All of this is part of a sector that has repeatedly dealt with the world of cryptocurrencies, as several large properties have already been sold using major cryptocurrencies.
As for Harbor Custom Development, it will start with four different cryptocurrencies, namely, the ever-current Bitcoin, as well as Ethereum – an obvious choice, since it is the second largest cryptocurrency by market capitalization, as well as Dogecoin, always a very popular payment method in the United States, and Shiba Inu Coin, which is perhaps the most unexpected of the original quartet.
What does this mean for cryptocurrencies?
Not so much in terms of volume, even if a significant part of the transactions that this company registers should be instantly transferred to the blockchain. What will be a decisive factor is the addition of another company to the world of cryptocurrency adoption – a path that now seems inexorable, since initiatives of this kind have become the order of things. From micro-purchases to much larger purchases in the real estate sector, we are seeing a cascading effect that is likely to become even more significant in 2022.
This will also favorably affect the value of cryptocurrencies on the market, the demand for which will grow against the background of an almost static supply. For those who had little faith in the possibility of using cryptocurrencies in everyday life, this is a serious blow, as well as the fact that Bitcoin will have a legal fund.
Jack Dorsey will come to the developers’ aid
Jack Dorsey continues to take his participation in Bitcoin extremely seriously. Not only through the development of new mining machines, but also on other equally important aspects of the life of the main cryptocurrency on the market.
The former CEO of Twitter actually founded a legal fund to support the legal costs of Bitcoin developers, which is more than necessary for an industry where mostly independent developers work, who often do not have the economic strength to solve such issues.
Fund to protect developers from lawsuits: this is a trick of Jack Dorsey, which he had been planning for a very long time. The launch of the fund was announced on a mailing list dedicated to Bitcoin developers, and is one of the most interesting developments in what is happening behind the scenes of BTC. The fund, which, as we will see, already has a self-sustaining target capital, and can be used almost immediately.
All this, together with Alex Morkos of Chaincode Labs and Martin White, creates a fund that can radically change the table regarding the future development of Bitcoin.
A rich world that attracts many, especially those with resources
Although there is little talk about this in general, Bitcoin developers often face lawsuits, often filed by groups with significant financial resources, which means they are able to continue litigation for years.
This situation relatively often led to the fact that Bitcoin developers lost because they could not independently access resources of the same level. An unpleasant situation, especially when it involves people, unfortunately, well-known to the community of enthusiasts, such as Craig Wright.
However, thanks to what Jack Dorsey started, everything can change. In fact, an economic fund will be created, to which developers affected by lawsuits will have access, so that they can defend themselves on equal terms and continue their work on the development of BTC.
The fund, which, according to the letter sent to the Bitcoin-dev mailing list, will not need funds at the moment, since they have already been deposited, and that if there is a need for them, they will be provided.
What does this mean for the future of Bitcoin? It means durability, it means protecting developers, and it means more difficulty for legal trolls to continue to annoy those responsible for the most important part of Bitcoin – code development. This is a very important step for a community that is still mostly run by volunteers, and otherwise would not have the strength to fight back against well-organized trolls.
This is a new commitment by Jack Dorsey, who promised several revolutions for the world’s leading cryptocurrency, and is now fulfilling his promises. Both from the legal and technical side.
We would like to remind our readers that Dorsey himself is working on a new wallet and new ASIC machines through the blockchain, which will be aimed at democratizing this fundamental activity.