The countries that make up the BRICS group are now betting on a more convenient payment system, based on blockchain technology. The objective is, from the beginning, to free ourselves from economic and financial dependence on the US dollar.

The BRICS – Brazil, Russia, India, China and South Africa – believe that the key is to “make sure it is convenient for governments, ordinary people and businesses, as well as profitable and free of politics.”

The leaders of these nations seek a permanent commitment to increase payments and transactions in their national currency, as well as “strengthen correspondent banking networks to ensure secure international transactions.”

The leaders of the BRICS countries are already talking about a “new digital paradigm”, as a single united front against dependence on the dollar.

Added to this are initiatives to create its own digital currency, such as in the case of Russia, with the digital ruble that facilitates “cross-border settlements and strengthens Russia’s global financial position.”

This is just one example of the current efforts of the BRICS in the dynamics of the world economic order, relying on blockchain technology.

M.Pino

Source: beincrypto

(Reference image source: @BRICSinfo, X)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada The BRICS work on a blockchain payment system apareció primero en Bitfinance.

The Central Bank of Venezuela is in the process of integrating into the Mir payment system, developed by Russia and widely used in several countries around the world, the Central Bank of the Latin American country announced in a statement.

The president of the BCV, Calixto Ortega, provided details on the technological advances and the necessary steps to establish the connection with the interbank messaging of the Central Bank of Russia.

The President of the Republic, Nicolás Maduro, highlighted the importance of this integration by stating that it will facilitate fluid communication to expedite import and export transactions in bolivars and rubles.

This connection will allow efficient communication between Venezuelan and Russian banks, facilitating financial transactions between the two countries.

As part of this process, work is underway to upgrade payment terminals in Venezuela and make them compatible with cards issued by Russian banks within the Mir system.

So far, about 40,000 payment terminals have been upgraded, and about 30 % of these devices are expected to be able to accept cards issued in rubles by Russian banks.

In the words of Venezuelan President Nicolás Maduro, “the country has been subjected to brutal, unfair and criminal sanctions that seek to isolate it monetarily and financially from the rest of the world.”

The progress towards the connection with the Mir system represents a step forward in the construction of new payment and financial systems, which will allow Venezuela to overcome these imposed limitations, according to the president.

The Russian Mir payment system was created in 2014 in response to economic sanctions imposed on Russia after the incorporation of the Crimean peninsula. Since then, it has been used by Russia and other countries to strengthen their financial infrastructure and reduce their reliance on traditional systems like SWIFT.

K. Tovar

Source: Diariobitcoin

(Reference image source: CardMapr.nl, Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada Venezuela seeks to integrate into Russia’s Mir payment system apareció primero en Bitfinance.

Twitter is building a payments system that will be compatible with fiat currencies and may accept cryptocurrencies in the future, according to reports in the Financial Times.

The company has begun the process of applying for state regulatory licenses in the United States and expects to complete the process within a year. Elon Musk, CEO of Twitter, has instructed developers to build the payment system.

Unconfirmed rumors surfaced in October that Twitter was working on a prototype wallet that would allow cryptocurrency deposits and withdrawals. However, it seems that the payment system will go ahead with only fiat support.

At a Twitter Space event, Musk discussed allowing the connection of bank accounts and adding debit cards to make money transfers easier. Following the approval of the licenses in the US, Twitter plans to obtain international regulatory approvals.

K. Tovar

Source: FT

(Reference image source: Souvik Banerjee, Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada Twitter works on a payment system compatible with cryptocurrencies apareció primero en Bitfinance.

The current owner of Twitter, Elon Musk, is trying to monetize the social network with plans that change every day, but that seem to be moving towards the establishment of an internal payment system in the long term.

Musk previewed some of his plans during a live meeting held this Wednesday at Spaces, focused on advertisers and the future of the platform, which include money transfers, for which the company has already registered with the Control network. financial crimes, belonging to the office of the United States Department of the Treasury.

Another novelty will be the commitment to video, in order to support the ecosystem of content creators. It would follow the paywall that the company is already working on, which will allow users to unlock audiovisual content in exchange for payment.

In this service, the creators would have control over the price, determining a payment of between one and ten dollars, according to the first information.

Musk explained that in order to bet on video, and for creators to be able to monetize their content, they first have to implement the necessary architecture to be able to support it on the social network.

Likewise, the businessman pointed out that this payment wall, together with the verification process, will be at the base of his payment system. In fact, Musk added that any user who is subscribed to Twitter Blue would have already been verified by the “mainstream payment system.”

K. Tovar

Click the link to subscribe for free to our news and media group on Telegram: https://t.me/G_ELSUMARIO_News

Source: Hipertextual

La entrada Twitter could have an internal payment system apareció primero en Bitfinance.

The payment processing company, MasterCard, announced that thanks to the association with several companies in the world of non-fungible tokens (NFT), it will now allow the purchase of this type of asset.

Specifically, the company indicated that it is working with ethereum’s layer 2 NFT network, Immutable X, and also with The Sandbox. Other cryptocurrency platforms include MoonPay and the NFT platforms Candy Digital, Mintable, Spring and Nifty Gateway.

Thanks to all these associations, MasterCard will allow the purchase of NFT through fiat money; buyers will be able to avoid the step of taking their money to cryptocurrencies for the acquisition of this type of tokens.

The new service will be protected with measures similar to those that protect the company’s payment system. This will likely remove some of the uncertainty that comes with non-fungible token purchases, as well as fraudulent activity.

It should be remembered that in 2021, the world of NFTs left profits of more than 25,000 million dollars in sales. For its part, MasterCard has so far distributed some 2.9 billion cards worldwide.

K. Tovar

Click the link to subscribe to our news and media group on Telegram: https://t.me/G_ELSUMARIO_Noticias

Source: criptoinforme

La entrada MasterCard will now allow the purchase of NFT apareció primero en Bitfinance.

The international payments giant Visa has been developing an adoption scheme in its services aimed at cryptocurrencies and digital assets in order to include crypto, stable currencies and CBDC on several fronts.

This Tuesday, the CEO of Visa, Alfred Kelly, advanced the progress of his project and the ambitions for the new development, presenting through a teleconference the financial results obtained in the first quarter of 2021, ensuring that the plan has well-positioned foundations.

“We are talking to central banks about the importance of the public / private partnership and, in particular, the importance of buy-in. For these central bank digital currencies to have value, both will have to be safe in the minds of consumers,” the company representative reported referring to CBDCs.

Despite the fact that Visa has already made decisions regarding digital assets, the CEO has proposed an adoption scheme fixed to an inclusion strategy on several fronts and among the most important assets, bitcoin will always be the most prominent. In this sense, the company is developing a payment system keeping the crypto asset par excellence very present.

According to what was reported by Kelly, this adoption strategy will have three key points: purchase, sale and storage of cryptocurrencies, a new API focused on cryptography for institutions that work with the company and settlement of payments through stable currencies.

K.Villarroel

Source: bitcoin.es

La entrada Visa will adapt its services to cryptocurrencies apareció primero en Bitfinance.