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What is DeFi? DeFi Trends for 2022

DeFi is short for decentralized finance, and this is an umbrella term for financial services that operate on a public blockchain. A blockchain refers to an interconnected layered network for the exchange of digital currencies decentralized data. This network powers autonomous and untraceable transactions between two parties.

Every transaction that you make on the blockchain follows a randomized path in which the data travels across hundreds of different electronic devices before reaching the recipient. The primary blockchain that powers most financial operations in the crypto space today is the Ethereum blockchain.

What is DeFi?

With DeFi or decentralized finance, users can do most of the things that bank’s support. Users can borrow land, earn interest, trade, and carry out other financial operations using decentralized finance. Overall, DeFi is not so different to traditional market in terms of financial operations. However, when drawing a contrast between decentralized finance and the conventional centralized finance, many differences can emerge.

DeFi vs CeFi

Decentralized finance in comparison to centralized finance is much faster. Moreover, it does not require users to fill out any paperwork and documentation before any financial procedures. These aspects of DeFi make it a more convenient option against centralized finance. Transactions in a decentralized finance settings are peer-to-peer, and do not require a third party that conducts to overlook and supervise.

The lack of a governing third party is the key difference of decentralized finance, and this is also what contributes to this system being faster, and cheaper. Since there is no existence of a third party, user are not subject to hefty fees and documentation.

Transactions through DeFi systems are anonymous and global. It is also open to everyone that has access to the internet. Unlike centralized finance, these transactions are not overlooked by a third party and do not abide to private policies and documented legislations.

Instead, they are contractually enclosed to a particular algorithm that will function autonomously without any unexpected changes. In this transaction, the code dictates the nature of the exchange. There is an emergent need for decentralized networks and many things make this transaction important.

Why is DeFi Important?

Decentralized finance takes the premise of digital currency and then expands on it to create an entire digital alternative to financial institutions. It rids users from all the associated costs that giant financial institutions will mostly charge people for financial services.

This has the potential to help manifest a market that is open, fair and accessible to anyone that has an internet connection. It has great benefits that many users have learnt to leverage from it lucratively.

Benefits

For one, decentralize finance allows users to stay anonymous. This means that you do not have to provide your name or any personal details. This allows users to protect their personal information and not become subject to control. It allows people to maintain their privacy when carrying out financial operations.

It is also very versatile as it allows users to easily transfer and receive assets anywhere. In contrast, when trying to carry out transactions across different countries using conventional means, you have to first ask for permission, pay extra fees for international transfer, fill out paperwork to provide the details of the transaction, and also wait for a long time for asset to travel to the receiving end.

DeFi or decentralized finance on the other hand is completely open and does not require any painstaking procedures before you make the asset transaction. It also does not require users to fill out paperwork or provide personal details. All you have to do is open an account and get access after making your digital wallet.

It is also very fast in contrast to conventional banking systems. Interest rates and rewards on a DeFi system will often update more rapidly than conventional banking systems and also within seconds. Therefore, decentralized finance is open, anonymous and fast, and getting involved in it will require users to use Dapps.

Decentralized Applications

Dapps are interfaces and platforms that provide users with the access to the blockchain services. Most of the Dapps run on the ethereum blockchain. To get involved in these applications, you have to first set up a crypto wallet in your browser. It is best to set up a browser that supports Ethereum and can also connect to different DeFi protocols.

DeFi Trends 2022

P2E Games

The first type of trend emerging in the DeFi space is P2E games. This refers to the play to earn games, in which you can play to earn money. One of the popular play-to-earn games in this space is called Crabada. Games such as these are very attractive and addictive for users. When you add a monetary gain to already addictive games, the sector of P2E games will undoubtedly increase.

Liquidity Pools

Another trend revolves around liquidity pools and nodes. Farming as a service is also a Defi trend that many people like. This is essentially when you purchase tokens and get paid out in reflections. The investment gets put into a treasury balance which then gets into a wallet address, which then allows lead farmers to make profit with the treasury.

DAO

Another trend that came about in this space takes shape in the form of DAO. There will be many DAOs that are transitioning this year and transition to them will be more sustainable for the users. Not to mention, there is great utility behind a DAO.

Yield Farming

Yield farming is another DeFi trend that you should look out for. In this, users have a way of earning passive incomes simply by staking a portion of their investments as collateral. This investment acts as lenders money for people looking to borrow.

Final Words

DeFi technology can single handed revolutionize the modern banking system and help users be more careful and secure with their money. Decentralized finance has multiple other use-cases instead of banking, and it can add a just and efficient system to any conventional system.

Restaurant Business, Payment, and Technology Trends for Summer 2022

The restaurant industry has normally been slow when it comes to the adoption of technology and innovative solutions. The Covid-19 pandemic however sparked a change in many industries including food and beverages. It forced food and beverage outlets to look beyond traditional settings and move towards a digitized way of working.

The Covid-19 pandemic disrupted businesses and the restaurant industry was hit hard due to lockdown restrictions. Since some restaurants only offered a brick and mortar service, they also had to close down. This disruption by the pandemic however has also encouraged many restaurant businesses to make changes to how they operate so that they can accommodate the world of today.

Hybrid Situation for Restaurants to Stay in 2022

There is a permanent change emerging in consumer behavior, which will continue to shape the restaurant business and trends throughout the summer this year. The longevity of the hybrid work situation was underestimated.

Remote and hybrid work situations are causing people to stay at home more often, and this is leading to a change in consumption patterns due to which many people now prefer eating at home and not inside restaurants.

The shorter term valuable comes from the cost. The cost of eating at home versus the cost of eating at a restaurant now significantly varies. People have now initially seen the cost of eating away from home spike. The value equation between eating at home and eating at a restaurant will also be something important to consider over the next year or two. Overall, the digitally transformative hybrid situation is here to stay and restaurants need to look at this from multiple aspects

Online Ordering, Delivery Applications, and Contactless Payments

As restaurants remain a victim to restrictions and closures in the post pandemic world, online deliveries and orders have been pivotal for their survival. This is why online ordering and payment platforms are now become a necessity for restaurants that want to flourish. Another trend that has manifesting out of the newfound sanitary requirement is contactless payment, and this will likely continue for summer 2022.

Contactless technologies are set to go mainstream. They are also not only about placing online order, but also being able to pay through a variety of different means. For instance, Restaurants are now opening their payment process to accommodate accessibility in payment. This allows users to pay with their smart watch, application, touchless devices and more.

These payment technologies are gradually gaining momentum in the industry, however, the trend seems to accelerate even more after the pandemic. Due to its convenience and ease, people have now become accustomed to this type of payment method. 2022 is the year in which restaurants will be willing to integrate contactless payment methods simply because of the people’s preference.

Online Table Reservations

Booking a table with the help of a phone call is now becoming outdated. As online table reservation technology becomes more significant, restaurants are now able to manage table bookings more efficiently. Using technology and automated reservation systems, restaurants can help sort out the tables according to each customer’s preferences, loyalty and more.

Kitchen Display Systems (KDS)

Kitchen display systems are an alternative to printed tickets. They digitize the menu board for staff members, and they are essential for restaurants to streamline their backend operations. They also directly connect to the point of sale system.

These systems do not only display orders automatically according to priority, it also monitors inventory for out of stick products, and tracks down delivery times. Overall, this technological advancement of the restaurant industry also paves the way for a better communication and transparency between kitchen staff and restaurant members.

Automated Inventory Management

Automation has been the name of the game in 2022. Technologies of today require minimal human intervention and businesses are utilizing these types of advancements, and leveraging from them to grow as a successful business.

Automating inventory allows restaurants to keep track of their food items and beverages. It also means that they can make the order scheduling process much more streamlined and smooth. More importantly, the implementation of this type of software during your process will help you get rid of food wastage.

QR Codes

QR codes are slowly becoming a quintessential aspect of a modern restaurant. In 2020, the trend for QR code technology is set to expand and move over different implications. It is most commonly used to open a display menu for individuals. In this contactless era, auto scanning barcodes will be found on doors, tables and posters.

Scanning this code will allow customers to open the menus, order food, and pay without contact. This helps keep the customers and employees safe. This technology also helps restaurants offer convenient benefits and discounts to the customers. Overall, this restaurant technology will be a must in 2021 due to countless benefits it provides restaurants.

Air Purification Technology

As people return to restaurants, you need to realize that they are still hesitant to be at an indoor space and also in close proximity to other people. This means that it is critical for restaurants to make the diners feel safe in their indoor setting.

To do this, integrating a highly specialized sanitation system can increase the overall appeal of your restaurant. Moreover, restaurants can also implement various air purification strategies that help promote clean air.

Sanitation and air purification has now become an integral task for restaurants around the world. Technology presents unique solutions for restaurants to take advantage of the emerging trends and stay ahead of the curve. Overall, technologies that perpetuate a sense of cleanliness will make customers feel safe and they will eventually prioritize the restaurant in which they are more comfortable to dine.

Final Thoughts

Restaurant owners need to integrate technology to their business operations if they want it to flourish in 2022. It will not only make the restaurant more appealing and safe in the eyes of the consumer, but also help them manage the restaurant more efficiently.

Top Predictions about What’s Next for Crypto in 2022

2021 was a spiraling chaotic year for the crypto currency sector, and many people are wondering what the future holds in 2022. Predictions about Crypto have come pouring in for 2022. While some are saying that this year will be incredible for crypto, others believe that dark times may be ahead.

Kraken intelligence released a report in 2021 about Crypto in review which revealed a constant uptrend with things such as adoption metrics. Another thing that was key was an enormous proliferation of new applications and services on smart contract platforms.

There has also been a tremendous growth on DeFi where you have billions of dollars locked in collateral. Trends for digital assets such as NFTs came about and people started to engage in digital art networks. Even if the pricing seems choppy and volatile, all underlying signals are continuing to trend positively.

Nations to Adopt Digital Currency (CDBC)

Experts predict that more countries will launch their central bank cryptocurrencies or CBDCs. This prediction pertains to retails CDBC which regular people will use. It will not concern the wholesale CDBCs that only select individuals will use. Only two countries so far have successfully launched retail CDBCs.

The first was the Bahamas, where the Sand dollar launched in October 2020, and the second is Nigeria, whose coin e-nira was launched in October 2021. According to the CDBC tracker, many companies including China, Ghana, Uruguay, and a handful of Caribbean islands are currently in the pilot phase of development.

Even though it is not certain whether these countries will complete their CDBC pilots by the end of 2022, China is set to launch their upcoming digital Yuan for 2022 by the end of their 2022 Winter Olympics. What all the countries have in common is that they are relatively small and partially dependant on the US dollar.

The record inflation which came with the dollar has only accelerated the development of central bank digital currency around the globe. This is largely due to countries seeking to get more control of their wealth. When compared to Fiat currency, CDBCs give central banks the power to both, create and destroy the currency circulation.

Theoretically, this power allows the central banks to keep hold of inflation in a much better way. However, this benefit comes with a trade off, which is that it gives the central bank control of everyone’s bank balance. This is something that people in the decentralized sector would deny for more reasons that you might imagine.

This also raises questions on the current inflation, and whether it is occurring so that governments can inflate away the value of physical fiat. This way more people will be willing to adopt the digital alternative. Many countries have started to partner with crypto projects so that they can develop their CDBC infrastructure.

The Metaverse Narrative to Continue Further

Along with the growth of NFTs (non-fungible tokens), games on the blockchain, and other crypto niches, the metaverse narrative will only grow stronger. In addition to the positive effects that these niches will have on crypto adoption, they will also drive the interest of many institutions. Many big brand companies are beginning to get into the NFT market.

The latest of this adoption is Adidas and its NFT collection briefly became one of the biggest due to its volume. Most of the companies that create NFT collections are in the food and beverage, and retail shopping sector. This comes as no surprise because both of the industries are facing challenges due to the supply chain shortages.

Selling NFTs do not require you to utilize the supply chain system, and you also do not need a physical location to display your virtual products. As technology begins to advance, you will note that line between physical and virtual will start to blur.

Another advantage of digitizing the retail market is that the overhead is much lower in the metaverse. All of these advantages are pushing the metaverse adoption, and Facebook’s rebrand is becoming a leader in the current metaverse movement.

People are immersing in multiplayer video games more often today, which only goes to show the potential for metaverse adoption. Co founder of Axie Infinity believes that the next generation of social media platforms will be indistinguishable from metaverse gaming platforms. He has been saying this since July 2021.

In other words, it is very likely that the next social media platform will be based on a blockchain game, and big companies in the gaming industry are willing to explore this niche as well. Adidas, Ubisoft, and Meta cannot move as quickly as crypto currency projects in these niches, and all of their crypto activities will be under scrutiny by regulators.

More Exchange Traded Products

You are likely to see more exchange traded products for cryptocurrencies that are approved in the US. These products will specifically pertain to an ethereum future ETF and a spot bitcoin ETF. When you pair that with the fact that there is a strong institutional demand for Ethereum and 100K of micro Eth future contracts traded in the first weeks adds to this claim.

Furthermore, SEC chairman Gary Gensler stated that they will gladly approve any crypto ETFs backed by regulated financial instruments like the CME futures. This is the SEC approved three Bitcoin futures ETFs in the last year.

When it comes to a spot Bitcoin ETF, the approval of such as instrument can entirely depend on the quality of the crypto custodian that is holding the physical Bitcoin which is being backed by the ETF. Naturally, the only institutions that qualify custody assets in the eyes of regulators are the big banks. This is why wisdomtree refilled its spot bitcoin ETF with a legacy bank shortly after it was rejected by the SEC.

Final Thoughts

As you can see, 2022 has the potential to bring more swings in the crypto space and investing. For investors that are looking to enter the space, it is best to follow the trends and know about the evolution of these dynamics. Many of the popular cryptocurrencies saw their values increase over this year. Overall, there is always something exciting happening in this space and it makes sense to be vigilant for new opportunities.

Robinhood Adds Support for Four New Crypto Assets Including Shiba Inu

Robinhood has had a massive effect on the crypto market. This financial service company’s recent wallet release is going have a potentially profound impact on the ramp up of the market. In August of last year, Robinhood reported that 62% of their revenue was being driven out of Doge Coin. This is amazing since crypto made up 50% of the revenue which was transaction based in the second quarter. This was a jump up from 17% in the first quarter.

Robinhood Expands Crypto Features on Trading App

Robinhood’s investment into new tokens was partly due to the expansion of the crypto trading capabilities of their application. The four coins that Robinhood invested in include Solana (SOL), Compound (COMP), Polygon (MATIC) and Shiba Inu (SHIB).

COMP

Compound is a protocol that uses an algorithm to run interest rates autonomously. Developers created this protocol so that people had access to an open source financial application. Compound allows users to deposit their digital assets into a lending pool and then earn interest out of the deposit they have lent. In this, holders of the crypto asset can take a vote to change the protocol. This Ethereum-based governance token stands at a supply of 10 million.

MATIC

This is a decentralized block chain that operates as a side layer to Ethereum and leverage from Ethereum’s security. MATIC is a native token of the Polygon network, and processes multiple thousand transactions on its blockchain.

SOLANA

This is another proof of stake blockchian that is created to enable many Crypto-based functions. It has no total supply and it is integral to many DApps, exchanges, protocols and projects in the crypto space. It leads in the top five charts in terms of market cap, making it one of the most popular alt coin.

SHIB

Shiba Inu is an ethereum based coin that resides on its blockchain. It was launched as a meme coin following the popularity of Doge Coin in August 2020. The creator of this project remains anonymous and the current founders claim that it was just an experiment for decentralized community building. After gaining popularity and acknowledgment by celebrities, Shiba Inu is starting to make collaborations to form new use cases.

After the announcements of the investment, each of the coins saw a significant jump in valuation. Now, users of Robinhood can easily purchase the coins on the application. This is going to be very interesting. However, many people are confused over the timing of their listing.

Users also do not need a crypto wallet to purchase SHIB tokens on the Robinhood app. This listing was very random and not many people had anticipated it. There was no buildup before any of these investments had been made and the sudden purchase has many people guessing.

Moreover, the company is utilizing the lightning network to conduct Bitcoin Transactions, and this goes back to scenarios that were announced at Bitcoin 2022. Many things are starting to revolve around payment transactions and the platforms that could potentially be employed on.

Robinhood came in and layered in the lightning network built on top of Bitcoin. By doing so, it has become a part of the tech companies that use the lightning network. As they go into the wallet aspect on the use of Bitcoin, it will lean into a good future towards where Robinhood is going.

RobinHood’s Future

Experts are also hinting Robinhood to becoming a much more active crypto currency exchange. They are seeing the future and movement of the asset classes, along with a yound economy around Robinhood. This is why it is very possible if the acquisition of tokens will drift towards this platform.

On another aspect, Robinhood’s crypto wallet opened up to a total of two million people. Several people in the crypto pit were able to get their hands on the wallet so that they could move the tokens fairly quickly. The biggest challenges of getting into the exchanges and being able to move outside and do some of the complex trades is usually the settlement timeframe between the bank and the exchange.

In this instance, having Robinhood as a fiat on ramp has been very helpful for many traders that are starting to utilize robinhood with the new application and aspect of the wallet. Opening up to 2 million users was therefore an interesting move by the company.

Interesting and Noticeable Features

Robinhood’s pricing is in many cases much better on some of the tokens. Users are able to get a better position on this platform than some of the other major platforms. Something to watch here is that Bitcoin is a recurring investment and this starts to push the aspect of where robinhood may be going in terms of a crypto exchange.

The one downside of this is the platforms lack of NFT capacity. Another big play for the platform would include them rolling out NFT wallet for the users. In a poll, users were most bullish about Shiba Inu amongst the four tokens that Robinhood invested in. As soon as they announced SHIB investment, there was a big movement of about 22% in its price.

Shiba Inu Price News

The Robinhood listing is acting as the catalyst for making the price of this coin rise. As Robinhood enabled SHIB purchases, the Etherum whales are starting to gobble up as many Shibs as possible. They have increased their activity in accumulating this coin. Two whales are leading this collection, and these purchases are making it difficult for small investors to gauge the market.

Final Words

Robinhood’s jump towards the Crypto assets only goes to show that mainstream payment systems are slowly started to adopt alternative methods of financing. Not only that, it also shows the rapid acceptance of digitized transactions. Shiba Inu and the four coins may be the start to a complete transformation towards crypto assets for Robinhood.

Will Stripe IPO in 2022? What You Need to Know About a Stripe IPO

Stripe announced that they are going to go public with their IPO in 2022. Stripe is a payment processing platform that powers technology startups as well as giant companies such as Shopify, Uber and Amazon. Over a million websites globally are using this payment gateway. This company was founded by two Irish brothers, and today, leads the payment gateway sector, with massive potential for growth.

It is worth noting that the pandemic has accelerated online businesses, and this has paved the way for a newfound demand on online payment systems. The way people interact with each other, the way they shop, and the way they exchange information in money has gone through a drastic change. Online and digital payments are now important part of your reality. Stripe offers payment processing software to many companies around the world.

Stripe’s Brief Background

Stripe’s founders are two Irish brothers named John and Patrick Collinson. They wanted to revolutionize how digital payments worked. Both were interested in coding from a very young age. When they were just teenagers, they developed an inventory tracking app for Ebay sellers. In addition, they also developed an Iphone application that worked as an offline Wikipedia.

The developed and launch of these applications gave the brothers the opportunity to keep bumping into the same problems pertaining receiving payment from customers. They did not turn to PayPal when they were presented with this problem because they believed it was a part of the problem.

PayPal acts as an intermediary between the person making the payment and the company, and then you have a pay a tidy sum for the service. This money can be very expensive, and although PayPal is expensive, they are also popular because it makes payments easier. Therefore, people do not mind putting up with the hefty fees.

The alternative to PayPal was the use of banks, which offered a very clunky and inconvenient option for the internet companies. In 2010, John and Patrick dropped out of college and launched stripe with the help of Y combinator. One of the distinctive aspects of stripe was that the payment solution was only made of seven lines of code for the person that wanted to include it to their software package.

These seven lines of code enabled businesses to use its system for the goal of processing payments from anyone. For the time period, this was a revolutionary idea and the two brothers started marketing this solution to different businesses so that everyone can integrate a unique way of doing business online. After a year of tweaking the product, the brothers decided to contact PayPal founders.

They pitched their idea of transforming the method of digital payments. They wanted to make it easier for businesses and customers to connect. Their idea also enabled companies to integrate software efficiently and quickly, without the know-how of advanced coding methods. This was a very revolutionary idea at the time, and so the PayPal owner funded two million dollars to the company.

Stripe’s Rise

After the PayPal funding, Stripe starting its meteoric rise and over the next decade, the company grew immensely. Today, the company processes over billions of dollars of payments every year for companies worldwide. It has even signed deals with huge businesses. One of the main reasons for its growth is the ease of use.

People that do not have advanced coding knowledge can use this payment system and with a click of a button, people can install it to their websites and platform, and then the software will handle the complicated processes in the background. Stripe’s transaction fees are way cheaper than PayPal, and the product is free to use. Not to mention, Stripe is also highly adaptable.

Stripe IPO Set to Launch

The excitement for Stripes IPO started in August of last year, where it announced that it will not be private for very long. Stripe filed its intention to IPO in July 2021. Currently valued at over $95 billion, its IPO will be one of the highest paid startup launches into the stock market in the US, even ahead of Elon Musk’s Space X.

Due to this extremely high valuation, many experts speculate that it’s rumored IPO could reach historically high numbers. Can Stripe achieve a record breaking valuation and deal size? No one can accurately predict because the IPO market is different today than it ever was.

It is also worth noting that most of the shares purchased during a popular IPO are usually in the hands of institutional investors that make it difficult for small retail investors to get involved. That being said, times have also changed and many companies allow small investors to get into pre-IPO investing opportunities.

Stripe is exciting to many investors, but small retailers may also turn their heads away from it. This is because payment processing is not exactly the most popular choice of investments for many. There is no denying that Stripe is a payment solution that is more transparent, adaptable, cost-effective, and streamlined.

Payment processing needs a significant overhaul with the technology that is available today, and cheaper and easier payments are a necessity. This is why there is a good chance that Stripe will continue to make headway in the space. People should keep an eye out for the Stripe IPO and any other news related to the launch.

Final Thoughts

With the fears of inflation, supply chain crises, and the overall volatility and unpredictability of the US economy, the IPO market has come to standstill. Companies are starting to rethink their listing, and anticipation for the new unicorn has dried out thanks to the current market situation. Therefore, it is questionable whether the IPO launch will be arriving anytime soon.

CFPB Urged to Implement Regulation of Buy Now Pay Later (BNPL)

Recently, CFPB (Consumer Financial Protection Bureau) issued a sequence of orders to different companies delivering BNPL or Buy Now Pay Later credit. The orders for collecting information on the benefits and risks of the rapidly-growing loans have been extended to Zip, Affirm, PayPal, Klarna, and Afterpay. The CFPB looks into actions like data harvesting and regulatory arbitrage in the consumer credit market that continues changing with the rapid technology.

Rohit Chopra, Director at CFPB, explains that BNPL (Buy Now Pay Later) serves as an all-new version of the traditional layaway plan. However, with the more modern system, consumers are able to receive the products immediately. He added that CFPB had given orders to Zip, PayPal, Klarna, and Afterpay to deliver information so that it can be reported to the public detailing risks and industry practices.

Understanding BNPL Credit

BNPL or Buy Now, Pay Later Credit is a type of deferred payment solution that usually allows consumers to divide a particular purchase into small-sized installments, usually less than 4. It is mostly associated with a down payment of around 25% that is collected during checkout. The application process is simple and efficient for the consumer. It usually involves relatively minimal information from the end customers. Furthermore, the product is available with no interest in most cases.

Lenders have regarded BNPL as a safer alternative to managing credit card debt. It is also known for its propensity to deliver services to consumers with subprime or scant credit histories.

Merchants continue adopting revolutionary BNPL programs. They are also willing to pay around 3-6 percent of the total purchase cost to the respective companies. These fees are typically regarded as similar to credit card interchange fees. Offsetting the cost is the fact that consumers tend to purchase more with the help of BNPL. The overall use of BNPL has increased during the global pandemic. It also spiked during the holiday season.

More Americans and other global consumers continue taking advantage of this trend. The most recent Cyber Monday and Black Friday shopping weekend in 2021 witnessed impressive growth with respect to BNPL. The massive growth has grabbed the attention of a number of investors, including major venture capital money. Leading tech companies are also making an entrance into the arena.

CFPB’s Implementation of BNPL

CFPB is responsible for monitoring consumer financial markets. At the same time, it enables the agency to ask the respective market players to deliver information regarding the monitoring process. The CFPB expects to publish aggregated findings on deeper insights obtained from the inquiry. The ongoing orders aim at highlighting the range of the respective consumer credit products along with the underlying business practices.

The Bureau is specifically concerned about the following aspects:

Regulatory Arbitrage: Some BNPL organizations might not be efficiently evaluating what specific consumer protection laws will apply to the respective products. For instance, some BNPL products do not offer specific disclosures as required by some laws. The BNPL application might appear similar to a standard checkout process with the help of a credit card. However, protections applying to different credit cards might not apply to BNPL products.

Most BNPL agencies do not offer access to dispute resolution or proper protections for other forms of credit, including credit cards. Eventually, based on what specific rules the lenders tend to follow, different policies and late fees will apply.

Accumulation of Debt: Traditional layaway installment loans were typically utilized for the major big purchase. However, in the modern era, consumers can easily become ongoing users of BNPL services to ensure day-to-day discretionary shopping. It is especially true when they download the easy-to-use applications or go ahead with installing the web browser plugins.

When a consumer has multiple purchases on different schedules with different companies, it is difficult to maintain track of when payments will be scheduled. Furthermore, when there is not enough money in the bank account of the customer, it could eventually lead to charges by both the BNPL provider and the consumer’s bank. Due to the overall ease of getting loans, consumers will spend more than expected.

Data Harvesting: BNPL lenders depict access to relevant payment histories of the customers. Some lenders use the collected data to design closed-loop shopping applications with partner merchants. It helps in pushing particular products and brands. It is mostly geared toward fresh, younger audiences.

As competitive parties continue putting pressure on merchant discounts, lenders will be expected to come across more sources of revenue towards maintaining profitability and growth. The Bureau expects to better understand the underlying processes around the concepts of behavioral targeting, data collection, data monetization, and potential risks they might create for the customers.

The BNPL product has witnessed immense growth across the globe. A number of other nations in the world are also observing the technology closely. As a part of the ongoing inquiry, the Bureau continues working with its esteemed international partners, including Germany, the UK, Australia, and Sweden -especially the Financial Conduct Authority. The Bureau also aims at coordinating with the remaining Federal Reserve system along with its state partners.

As per a recent survey, it has been observed that around 40 percent of BNPL consumers revealed that they use BNPL credits for ensuring purchases that would otherwise have not accommodated their budget. More recent studies have revealed that consumers who ended up over-drafting the respective accounts were at least 2 times more likely to have bought BNPL services.

As per the recommendations of the group, the Bureau is expected to ensure:

Applying relevant credit card protections of the TILA or Truth in Lending Act
Issuing a larger participant rule to ensure that the BNPL market remains under the supervision of CFPB
Preventing or taking action against deceptive, unfair, or abusive practices or acts while ensuring compliance with fair lending laws

It is crucial for the CFPB to ensure BNPL lending platforms, especially BNPL credit, are handled in a way that is fair and beneficial to consumers, as well as within the parameters of existing laws regarding credit.

Square Changed Its Corporate Name to Block

Square has recently announced changing its name to Block. Through its all-new corporate name, Square aims at combining existing services. Some of the services include Tidal, CashApp, Square, and TBD. As a brand, Square will continue representing the seller business of Block.

Evolution of Square -from Payment Processing to Blockchain Technology

In 2009 Jack Dorsey, then also the CEO of Twitter, introduced Square for one purpose. It was aimed at allowing sellers to accept credit card payments with the help of smartphones. Since its inception, Square has gained traction across multiple industry domains.

Expanding its offerings for financial services, Square had launched Cash App. It was previously referred to as Square Cash. It was launched in 2013. Cash App serves to be a mobile application along with a digital wallet solution that has claims of more than 70 million users in 2020.

In 2021, Square went ahead with acquiring a major ownership stake in Tidal, the famous music streaming service by Jay-Z. The brand also made the announcement of launching TBD, an open platform that helps in the creation of a decentralized exchange platform for Bitcoin.

Why is Square Changing Its Name to Block?

In a recent press release, Jack Dorsey made the statement that Block serves to be an all-new name. However, the entire purpose of economic empowerment with Block remains the same as that of Square. Irrespective of how the company aims at growing or changing, it will continue building tools to increase the overall access to the entire economy.

As per the reports of Square, its all-new name will have several meanings. In some ways, the name can be associated with the overall concept of the development of neighborhood blocks, building blocks, and the respective communities and local businesses. All of these aspects come together at block-based parties featuring abundant music. On the other hand, Square has mentioned an association to blockchain or specific sections of code.

With the given fact, the chances are that the given name change will predict something related to cryptocurrency. Blockchain is regarded as the foundation of cryptocurrency. Dorsey supports the concept significantly. In addition to launching TBD, Dorsey had also previously made the announcement of launching a Bitcoin-based hard wallet. Moreover, you can also expect a mining rig to work now.

Development of a Wider World with Block

Just like Facebook had named itself to Meta recently, the name change of Square will not be affecting its user base. However, it will indeed mark the direction of the group for the respective future developments and the type of projects it will be working on in the future.

Throughout several years, Square has been successful in fulfilling visions to reach further than others in the initial stage of conception. Due to this, the name change of Square to Block will help in reflecting a wider world in which it will make a difference.

Additional Advancements

Earlier this year, Afterpay agreed to merge with Square. The Cash brand is also expected to allow teenagers between 13 and 17 years to open accounts with the help of parental oversight. At the same time, Tidal is preparing itself for a major shift toward the context of direct artist royalty payments this year.

The NYSE sticker for Block will remain the same as SQ. The company has also made it clear that there will be no organizational changes taking place at the given moment. Until now, Square used to serve as one of the largest winners of 2020. It is due to the digital shift of consumers in terms of payments. Shares of the company have been down by around 2 percent. It is because investors continue rotating away from high-growth technology names.

Unique Role of Square in the Future of Payments

As COVID-19 pandemic has accelerated the overall move of online commerce, Block (Square) played a role in the domain of physical commerce. Google Pay and Apple Pay are mostly linked to a Mastercard or Visa card. With the help of its seller solutions, enabling both online businesses and brick-and-mortar retailers to accept payments, Square has established direct links with the end customers and SMEs. Therefore, it may be possible in the future to allow fully digital payments with the help of the all-new digital payment rails. At some point in the future, there may no longer be a requirement to use the incumbent intermediaries of MasterCard and Visa. In that scenario, Square or Block would integrate with the respective card systems while at the same time, also offer access to decentralized options.

This is where the all-new TBD concept comes into play. It allows individuals at the dedicated point of sale to pay for products with the help of digital assets. There is no requirement of going through a separate legacy system that obtains additional payment in the form of intermediary. It will not be limited to the physical world. It will also include finance and investment.

TBD will also continue embracing blockchain analytics to identify bad actors while promoting this as a leading alternative to traditional anti-money laundering (AML) processes. It is a significant issue on its own. It is because compliance and AML deliver a disproportionate impact on the underbanked and unbanked. Recently on 30^th June 2020, Square went ahead with changing its reporting and operating segments. Previously, the company had reported itself as a single entity. Currently, it has become two segments for reporting, Square and Cash App. The two segments feature the primary ecosystems of the service providers. Block (Square) also offers services through Tidal along with some blockchain and Bitcoin initiatives.

Blockchain.com Has Launched Asset Management Service and Reveals DeFi Product Plans

Blockchain.com – a crypto technology company known for raising the series D funding, has come up with its asset management service and brand known as BCAM. Initially, the company had been successful in raising an all-new round of funding. It has eventually valued its company at $14billion.

The all-new service BCAM will be catering to institutional investors, high-net-worth individuals, and family offices. The asset management service by Blockchain.com has been presented in partnership with Altis Partners. It is a leading investment firm that helps with the management of futures portfolios. As Blockchain.com continues powering BCAM, Altis helps in providing investment management services.

Blockchain.com Asset Management Service: An Insight into BCAM

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BCAM by Blockchain.com has come up with a dedicated strategy of tracking the price of Bitcoin against the dollar. Another leading strategy that the solution leverages for ensuring asset management is focusing on the reduction of volatility in connection with the investment of Bitcoin. It is achieved by providing “algorithm-based risk-managed exposure” to the existing currency.

BCAM is also committed to launching another product for managing exposure into decentralized finance coins. It will be linked to applications that allow people to lend, trade, and borrow without any intermediary. It was revealed by Charlie McGarraugh -the Chief Strategy Officer at the organization.

Blockchain.com has now doubled down on the overall institutional business by launching its all-new service BCAM. McGarraugh added that like everything else, you will not know it all unless you try crypto. However, just like everything with crypto, it is assumed that the company is rising to new heights. It is indeed a big opportunity.

Recently, Blockchain.com purchased the over-the-counter trading & execution business of Altonomy in March. Since then, the company has managed to garner a number of institutional clients. The company boasts around $8 billion in loan originations along with $15 billion in lifetime trading volume linked to the respective institutions.

Blockchain.com and Its Rising Popularity

Recently, Blockchain.com has also been successful in raising total round funding. This funding has catapulted the company into the ranks of the most valuable companies of the crypto industry. The funding has been forwarded by Lightspeed Venture Partners. It features significant participation from the side of Baillie Gifford & Co.

The firm Blockchain.com was founded in 2011. It is guided forward by Peer Smith -the Chief Executive Officer. Currently, the company boasts the presence of around 37 million verified users along with 82 million wallets that have been created and over $1 trillion in transactions made.

BCAM Targeting Affluent Customers

Launched recently, the all-new service will be responsible for serving high-net-worth customers, family offices, and institutional investors.

The crypto firm with its headquarters in London is known to offer access to a wide range of services. It includes custody and trading. The leading asset management solution by Blockchain.com aims at working on different strategies, including:

Tracking the price of Bitcoin against the US Dollar
Offering Bitcoin Smart Beta -risk-managed exposure based on algorithms, for reducing volatility during investments in Bitcoin

In addition to this, BCAM will also go ahead with launching a product for managing exposure to DeFi (Decentralized Finance) coins like Decentraland (MANA), Aave, Uniswap, and so more.

Institutional Demand for Increase in Active Crypto Fund

With the ever-increasing institutional demand for active and managed digital asset investments, BCAM aims at combining the conventional financial markets with the all-new world of crypto to meet the increasing demands.

Recently, Abra – a wealth management platform focused on crypto, has launched its asset management component – Abra Capital Management. The service enables clients to assess around 5 actively managed funds with ample exposure to multiple digital assets -including Tether (a stablecoin) and Ethereum.

Blockchain.com Plans at Attracting Crypto Whales for Seeking Bitcoin Millionaires

Blockchain.com is much more than an exchange platform. At the start of 2022, the first Blockchain.com exchange hosted Walmart Manager -Tom Horton in the band. The financial services and cryptocurrency exchange company is experiencing a boom.

The digital wallet and cryptocurrency exchange company has handled almost a third of the network transactions for Bitcoin since the time of 2012. Moreover, the bulk of all transactions is being processed with the help of wallets of Blockchain.com has occurred over last 2 years. These numbers are not reflected in what is being sold and bought on our exchange, but instead on the real utilization of crypto. It helps in instantly sending immense value around the world as quickly as sending an email. The milestone serves to be a great message that the crypto industry is not just for going on the exchange and buying & selling. The experts believe that crypto will help in driving a digital financial system.

About Blockchain.com

Blockchain.com is a dedicated platform offering a way to purchase, hold, and utilize cryptocurrency. It helps in creating a financial system for the internet to empower anyone in the world to control the overall money. More than 50 million customers have signed up for using the platform of Blockchain.com. It is a quick and easy way to purchase Bitcoin while trading crypto, sending, receiving, securing, and borrowing digital currencies.

The Blockchain.com explorer is regarded as one of the most trafficked websites across the globe to analyze what is happening in the crypto markets. The Blockchain.com exchange helps in supporting a faster trading experience.

Discover Unveils Debit Account with Cash Back Rewards

Discover has unveiled a checking account with dedicated cashback rewards for its customers. Along with lucrative rewards, Discover also aims at providing early access to customer paychecks along with the mobile-first digital banking experience.

The all-new Cashback Debit account by Discover is built on the foundation of the Cashback Bonus Rewards of the payment service giant and follows a no-fee structure throughout.

Carlos Minetti, President of Discover in Consumer Banking, revealed that the all-new Cashback Debit Account by the company is designed to be a one-stop checking account for everything a customer needs. The unique Cashback Bonus rewards program is aimed at making it simpler for individuals to earn cashback and other rewards with their day-to-day debit card expenses.

Understanding the Cashback Rewards Program by Discover

Minetti further added that the company is designing a dedicated program that has been successful in rewarding millions of customers in the form of cashback offers since 2017, achieved by delivering a number of industry-leading functionalities and features to the program. Discover also strives to accumulate more benefits throughout the year and beyond.

The new product, “Cash Debit Account” by Discover, aligns with the company’s goal of providing its customers easier access to money. The program is committed to meeting consumer expectations that the management of bank accounts should be seamless and will aid in effectively managing the account digitally while offering the best innovations.

According to a research report by Discover, around 90 percent of consumers regard the overall absence of fees as an important feature of a checking account, and 72 percent of consumers revealed that cashback rewards are also important features of a bank account. However, only 28 percent of them stated that it is a feature that is being offered by their current banks.

The same study states that features of the checking account that are highly sought-after by around 80 percent of end consumers are 24/7 access to consumer services, improved security, and free access to ATM services. Minetti added that as the competitors of Discover have started lowering the overall fees, Discover aims at setting an example for the entire industry. It had proactively removed all fees related to deposit accounts in 2019, and has been successful in saving customers huge amounts. The latest release of the all-new Cashback Debit checking account is aimed at helping customers ensure ease of movement while managing their overall money seamlessly. It also makes overall banking operations more accessible for end customers with the ability to apply without any fees within minutes.

Features of the Discover Cashback Debit Account

Some of the notable features of the all-new Discover Cashback Debit Account include:

Absence of fees throughout the account -including overdraft, insufficient funds, or monthly maintenance
Rewards with one percent cash back on $3000 with respect to debit card purchases every month
Access to paychecks for up to 2 days in advance with the help of Early Pay
Access to more than 60,000 ATMs without any fees in the United States
24/7 customer services in the United States
Fraud management and security offerings like the ability to freeze the debit card temporarily
Easy onboarding and digital application experience -without any impact on the credit score
Mobile wallet access with the help of Apple Pay

Discover has plans to continue expanding its Cashback Debit product with additional features like e-wallets, tools, and debit card enhancements to allow customers to manage their overall credit score.

Discover Cashback Credit Card Overview

As you earn cashback from your credit card, it serves to be a simple way to save some money on your day-to-day expenses. The Discover Cashback Credit Card is the ideal low-risk manner to get started with it. The credit card charges no annual fees, it is also capable of offering around 5 percent on up to $1500 within the rotating category upon activating the bonus category. Moreover, consumers will also receive one percent cashback on all purchases.

In combination with low fees, the power of reward-earning can make the Discover Cashback Credit Card a forerunner if you wish to get the most for your money. Some of the benefits of the Discover Cashback Credit Card are:

Earning 5 percent cashback on up to $1500 as purchases on rotating categories
Absence of annual fees, penalty APR, foreign transaction fees, or fees on the first late payment
Delivery of Cashback Match program for doubling all earned cash in one year
Zero percent into balance transfer APR and purchases for 15 months

Rewards checking accounts by Discover can be a great option for people who wish to be clear of credit cards. Some of the benefits of the rewards checking account by Discover are:

Earning cash back easily -Discover Cash Back Debit account allows you to earn around one percent cashback on $3000 in purchases out of debit cards every month. This implies that you are capable of earning $360 every year in the form of a cashback bonus.
Less Opportunity for Overspending: One of the major benefits of the rewards checking account by Discover is that it helps in making expensive overspending quite difficult, because you are only capable of withdrawing money that you have in the account. The best part about rewards checking accounts is that you do not have to worry about going into debt.
Allowing You to Stick to a Budget: You can receive additional benefits of rewards checking accounts by Discover when you regard the same as a budgeting tool. You can easily go through your account to track the overall spending, adjust the budget, and find places to cut towards saving.

Conclusion

This checking account has many great features, but experts recommend that you should go through these features and terms of the account and its specifications before committing to it.

What is DHL E-Commerce? Can Your Business Benefit?

It’s been two years into the Covid-19 pandemic; the mode of operation of many businesses has been altered during this time and many of them have had to adapt or go extinct. For example, the logistics industry is one industry that has faced challenges because of the sudden halt in supply chains and flow of products.

While many logistics businesses had to close, logistics companies that were forward-thinking and fast to adapting digitization through e-commerce were the ones that were able to weather the storm of change. According to the World Economic Forum, in 2020, there was a 25% rise in consumer e-commerce deliveries.

Paying particular attention to DHL, an international shipping and courier company, alongside its regular services, DHL includes a specific set of services for online sellers called DHL eCommerce.

What is DHL E-Commerce?

With the current changes in the world and the unexpected shift experienced in 2020, one question businesses have to constantly ask is, “what chance does the business have in reaching customers and suppliers globally and still fulfil their product needs?”

This is where DHL eCommerce comes in. DHL E-Commerce can do this, which makes it one of the best options on the market for shipping, tracking, and logistics.

The way the business world works, people purchase goods from anywhere around the globe and there have to be companies who have to step in to ship these products. DHL E-Commerce connects sellers to buyers across the globe at affordable prices for high-volume shippers.

This service is quite flexible as it provides dealers with the opportunity to ship lightweight items. One thing which stands out about this service is the fact that it is quite economical for eCommerce shipping, its transit times are very reliable, and when it comes to commercial clearance it is done properly. Below are some of the domestic services for DHL E-Commerce.

Domestic offering for DHL eCommerce:

Pays more attention to low volume packages, particularly packages weighing less than 5 lbs, and for ounce-based pricing under 1 lb.
Interstate coverage, delivery to every US zip code, with the last mile service offered by the USPS
End-to-end tracking is available for packages.
Connect to domestic delivery networks for faster shipping
Deliver to a pickup location, to a customer’s door, an authorized neighbor’s home, or to a guarded location

There are three service levels to DHL E-Commerce which are:

Expedited Max- 2/3 day-definite service
Expedited- 2–5-day service
Ground- 3–8-day service

What are the Pros and Cons of DHL eCommerce?

DHL E-Commerce has its high points and low points; however, we must state that the high points are more than the lows. Here are a few pros and cons of DHL E-Commerce:

PROS

DHL E-Commerce has good plans and equipment for international shipping
Precision when tracking packages
Simple to the use-web portal
Blends perfectly with common software for eCommerce
Global shipping and fulfilment with delivery to over 220 countries

CONS

Small quantity shippers do not have access to use the site
Shipping in the US on Saturdays and Sundays is not possible
Extra costs based on weight, fuel, and peak season

How Can Your Business Benefit from DHL E-Commerce?

The good part of this service is that it offers businesses much more than shipping services. With its amazing logistics and fulfilment, shipping is connected back to your eCommerce site which enables orders to be synchronized and automated.

With its flexible order management system, businesses need not worry about sending orders to DHL as this system helps to generate shipping labels and merchandise fulfilment from warehouses across the country and the globe.

Additionally, businesses that run on a tight budget can benefit tremendously from this service. While DHL is trustworthy and fast, DHL’s eCommerce offers a cost-effective option for businesses that sell lightweight products (i.e., less than five pounds) in large volumes. For businesses on the internet with ample volume in sales, there’s also a DHL fulfilment option that assists in getting deliveries to the end-users faster. With this option, merchandise is shipped to a DHL fulfilment warehouse, there is an option to keep products stored until the customer has a need for them. Then, the order is picked and delivered.

DHL transports billions of packages globally every year. Offering delivery six days of delivery service weekly, DHL eCommerce focuses on prompt and efficient delivery of packages to the customers of eCommerce merchants. On time delivery can be assured through DHL eCommerce’s exceptional focus on customer delivery options . Merchants have outstanding options for their products, including next day and same day delivery. Customs clearance for B2C shipments make cross-border shipping simple, and a wide array of delivery choices enable end customers to select the optimal shipping service at time of purchase.

In addition to all these benefits, DHL brings merchandise closer to the consumers with its warehouses and also as distribution centers, reducing delivery timelines. DHL Fulfilment is an ideal shipping service for businesses with higher volume shipping needs. With DHL Fulfilment, businesses send products to a fulfilment warehouse, which is then kept in storage until needed to fill an order. This greatly reduces delivery timeframes and enables DHL to rapidly fulfil orders.

Final Thoughts

If a business ships lightweight products in high volume both domestically and globally, then exploring DHL eCommerce makes sense. One out of the many things which make DHL eCommerce an excellent service is the use of global supply-chain logistics to deliver and track packages from your warehouse or business straight to the customer.

Because of its outstanding order management software which synchronizes with your eCommerce orders, businesses are assured that every package is shipped. In addition, its easy-to-use web portal assists you in finding tracking numbers and following the delivery.

If your business meets the appropriate parameters for online selling, then you can’t go wrong with DHL eCommerce.