PRFinancial News

Source: By Richard Lee - Investopedia

Although the foreign exchange market is often billed as a banker's game, currencies can sometimes be great diversification for a portfolio that might have hit a bit of a rut. It's a market that can also offer tremendous opportunity when other global forums enter the doldrums.

As a result, knowing a little bit about forex, and the fundamentals behind it, can make significant additions to any trader, investor or portfolio manager's arsenal. Let's take a look at eight currencies every trader or investor should know, along with the central banks of their respective nations.

1. U.S. Dollar (USD)

Source: CBInsights

We look at major events, patents, and rumors to determine what Facebook may be up to in blockchain and digital currency. 

Could blockchain be an answer to scandal-plagued Facebook?  It’s starting to look like it.

A variety of different signals point to Facebook getting serious about blockchain and digital currency.

Source - Investopedia

Exchange-traded funds (ETFs) are among the hottest modes of investment today, with investors pouring trillions of dollars into an ever-growing field of funds. Particularly in comparison with high-fee hedge funds (many of which have failed to live up to expectations on returns in recent years), low-fee ETFs provide a safer, more stable means of investing that has proven enticing for many investors. One of the wonderful things about ETFs is that they are infinitely broad in scope and focus; investors can use ETFs to participate (by proxy) in markets ranging from energy to marijuana. So why haven't cryptocurrency-based ETFs taken off so far?

Cryptocurrencies have been another of the hottest trends in the investment world in the past couple of years. Following the lead of breakout stars like bitcoin and ethereum, digital tokens have proliferated at an astonishing pace. Some of the most successful cryptocurrencies have seen outlandish gains. However, the industry is full of uncertainty and plagued by heavy volatility. For this reason, many investors would prefer to use a vehicle like an ETF to participate in the cryptocurrency space. In this way, they could take advantage of the excellent opportunities that tokens present without having to run the risk of actually owning them. Given that cryptocurrencies and digital token exchanges are still regularly the targets of thieves and scammers, it's understandable why investors might wish to take this extra precaution.

Below, we'll explore what cryptocurrency ETFs are, where they thrive, how they have developed in the U.S. and more. (See also: Are Bitcoin ETFs 'Nearly Certain'?)

By Victor Tangermann - Futurism

Venezuelans are faced with a terrible choice:

Continue making purchases using the country’s almost-worthless local currency, the bolivar.Go to the black market and buy U.S. dollars.Flee the country.

It got this way because the country’s leader, Nicolás Maduro, made some pretty terrible economic decisions. For one thing, he put all of Venezuela’s (economic) eggs in one notoriously bumpy basket: oil. The country’s always had a lot of it, but for a long time, it was just one of many resources the country exported, along with heavy industry products (steel, aluminum, cement) and agricultural products like rice and corn. By 2017, though, oil had taken over, accounting for 98 percent of the country’s export revenue. And when the price of oil took a nosedive in 2014 (from $115 to just $35 a barrel), the Venezuelan economy plummeted, too.

Basically all domestic businesses took a big hit — imported goods cost more, so local businesses were forced to charge higher prices, even for basic necessities. People could afford less, so they spent less money, which meant the government made less money in tax revenue. And instead of increasing interest rates or cutting back its own spending, the government took exactly the wrong tack: printing more money.

Source - Business Insider

Amazon changes product prices 2.5 million times a day, meaning that an average product's cost will change about every 10 minutes.How do they do it? Simply put, Amazon has tons of data.With all this data, Amazon analyzes customer's shopping patterns, competitors' prices, profit margins, inventory, and a dizzying array of other factors.Amazon also raises prices on uncommon products, and then the most common products will appear cheaper — and people will start to assume they have the best prices overall.

The following is an excerpt from"Swipe to Unlock: A Primer on Technology and Business Strategy":

Not a fan of the price of an item on Amazon? Just wait 10 minutes. It might just change.

Amazon changes product prices 2.5 million times a day, meaning that an average product listed on Amazon changes prices every 10 minutes. That's fifty times more often than Walmart and Best Buy! The constant price changes have annoyed some consumers when they see the price of an item drop right after they buy it, but they've also helped Amazon boost profits by 25%.

Source: Business Insider Intelligence

The financial services industry could potentially add $512 billion in global revenue by 2020 with the use of intelligent automation, according to a news report from Capgemini.

Of this sum, $243 billion is expected to come from the insurance industry, while the other $269 billion will likely come from banking and capital markets.

Intelligent automation is defined as a combination of robotic automation processing (RPA), AI, and business process optimization to achieve strategic business objectives, such as software that handles high-volume, repeatable, and rule-based tasks.

While 52% of companies are focused on cost savings when automating processes, 45% actually look to grow revenue with it, and 55% want to increase customer satisfaction, the report found.

Source: .Investopedia.com

Bitcoin has not just been a trendsetter, ushering in a wave of cryptocurrencies built on decentralized peer-to-peer network, it’s become the de facto standard for cryptocurrencies . The currencies inspired by Bitcoin are collectively called altcoins and have tried to present themselves as modified or improved versions of Bitcoin. While some of these currencies are easier to mine than Bitcoin is, there are tradeoffs, including greater risk brought on by lesser liquidity, acceptance and value retention. Since Bitcoin prices are soaring new highs, we look at six cryptocurrencies, picked from over 700 (in no specific order) that could be worth your while. (Related reading, see: How Do Bitcoin Investors Combat Price Volatility?)

1) Litecoin (LTC)

Litecoin, launched in the year 2011, was among the initial cryptocurrencies following bitcoin and was often referred to as ‘silver to Bitcoin’s gold.’ It was created by Charlie Lee, a MIT graduate and former Google engineer. Litecoin is based on an open source global payment network that is not controlled by any central authority and uses "scrypt" as a proof of work, which can be decoded with the help of CPUs of consumer grade. Although Litecoin is like Bitcoin in many ways, it has a faster block generation rate and hence offers a faster transaction confirmation. Other than developers, there are a growing number of merchants who accept Litecoin.

2) Ethereum (ETH)

Launched in 2015, Ethereum is a decentralized software platform that enables Smart Contracts and Distributed Applications (ĐApps) to be built and run without any downtime, fraud, control or interference from a third party. During 2014, Ethereum had launched a pre-sale for ether which had received an overwhelming response. The applications on Ethereum are run on its platform-specific cryptographic token, ether. Ether is like a vehicle for moving around on the Ethereum platform, and is sought by mostly developers looking to develop and run applications inside Ethereum. According to Ethereum, it can be used to “codify, decentralize, secure and trade just about anything.” Following the attack on the DAO in 2016, Ethereum was split into Ethereum (ETH) and Ethereum Classic (ETC). Ethereum (ETH) has a market capitalization of $41.4 billion, second after Bitcoin among all cryptocurrencies. (Related reading: The First-Ever Ethereum IRA is a Game-Changer)

Source: AdAge

As marijuana enters the mainstream, plenty of ad sellers are still just saying no.

Even in states where pot is legal for recreational use, retailers are having a hard time placing ads. There's a complete lid on TV and radio ads, for instance, and the acceptance of outdoor ads is inconsistent. And Facebook and Instagram continue to prohibit ads that promote the direct sale of cannabis.

The resistance means that pot retailers must get scrappy as they deploy their ad dollars, even as legalized marijuana becomes big business, surpassing $6 billion in sales last year, according to one estimate.

Source: qz.com

China has made its first move in what now looks like a trade war with the United States, following its warning on Mar. 23. In retaliation for newly announced US tariffs on $50 billion worth of Chinese goods, China will impose tariffs on 128 US goods, effective today.

According to a list published by China’s Ministry of Commerce (pdf), the tariffs apply to 128 US products: Of them, 120 products ranging from dried fruits to stainless steel pipes will receive an extra 15% import tax, while eight will have to bear a 25% tax hike. The latter category consists of seven different kinds of pork products and aluminum scrap. According to data from the ministry, the group of goods taxed at 15% make up $977 million of US exports to China. The eight products subject to the 25% tariff make up $1.992 billion, for an overall total of nearly $3 billion.

In a statement published on China’s Ministry of Commerce’s website(link in Chinese), China accused the US of violating World Trade Organization regulations, and announces the suspension of “substantive equal concessions and other obligations to the United States” to “effectively protect China’s interests.”

Source: By Shobhit Seth - Investopedia

In November 2017, an escrow-related cryptocurrency startup called Confido disappeared overnight after collecting $175,000 through its initial coin offering (ICO). Following the news of the Confido exit scam, the market cap of the cryptocurrency fell from about $6 million to $70,000 within a week.

LoopX is another crypto startup whose ICO promised: “guaranteed profits every week thanks to the most advanced Trading Software out there to date.” It abruptly shut down in February 2018 after raising $4.5 million from investors through a combination of bitcoin and Ethereum.

Welcome to the exit scams - the new form of forgery now lurking in the anonymous and decentralized cryptocurrency world. (For more, see $9 Million Lost Each Day In Cryptocurrency Scams.)

How stable are our Financial Institutions and what real value can we give to printed and minted money with the arrival of Bitcoin, Crowd Funding and other monetary that are based on Blockchain?

The below article will give you a good understanding and appetite your curiosity as to what money will look like within the next 5 to 10 years.

Source: Bernard Marr - Forbes

You may have heard the relatively new term “FinTech” bandied about, but what actually is it? And why is it important for all entrepreneurs to know about and understand?

FinTech stands for Financial Technologies, and in its broadest definition, that’s exactly what it is: technologies used and applied in the financial services sector, chiefly used by financial institutions themselves on the back end of their businesses.  But more and more, FinTech is coming to represent technologies that are disrupting traditional financial services, including mobile payments, money transfers, loans, fundraising, and asset management.

Amazon is considering partnering with Wall Street's top banks in an effort to build a "checking-account-like" product for customers, according to a report.

The e-commerce giant is in early talks with financial institutions including J.P. Morgan Chase to help launch the accounts, aimed at younger customers and those without banking accounts, The Wall Street Journal reported Monday.

While people familiar with the situation tell the Journal the discussions are in early stages, such a venture would add yet another entity to Amazon's expanding portfolio, which now includes grocery stores and its digital assistant, Alexa.

"The underlying goal is to further grow its Prime membership through cross-selling into existing J.P. Morgan customers and this could lead to more initiatives down the road," Dan Ives, chief strategy officer and head of technology research at GBH Insights, told CNBC in an email. "Ultimately, Amazon is in fifth gear, trying to double down on the consumer and the finance vertical looks like the next step (through partnerships) of adding to the Amazon flywheel."

Source: by Drew Hendricks - Forbes

Amazon seems to have branched out into every business imaginable. So last year’s news that the company would be offering loans to its online sellers wasn’t too surprising. After all, Amazon is often considered the Wal-Mart of the Internet, and Wal-Mart has broken intothe lending business, as well.

For Amazon sellers, the loans are welcome in the face of repeated rejection from other lenders. Designed to show its support of the many sellers in its marketplace, the lending program was offered to merchants. Loans are provided through Amazon Capital Services, Inc. and are meant to serve as an alternative source of funding for those sellers who are unable to secure funding through traditional lenders.

How to Participate

By Shoshanna Delventhal - Investopedia

Arizona is poised to become the first state to accept tax payments in cryptocurrencies. On Thursday, the state's Senate passed a bill that would allow payment of state income taxes via cryptocurrencies to be “recognized” by the state’s revenue authorities. The law has moved on to be considered by Arizona's House of Representatives.

According to the bill, the state's Department of Revenue, upon receiving payments in crypto for “tax and any interest and penalties”, would be obligated to convert the cryptocurrency payments to U.S. dollars within 24 hours.

The landmark bill speaks to the larger debate regarding the intrinsic value of digital currencies such as bitcoin, the world’s largest cryptocurrency by market capitalization. Skeptics such as legendary investor Warren Buffett and JPMorgan Chase & Co. (JPM

Source: by Mathew Dirjish - Sensors Online

On a quick first glance, I thought this news about fintech referred to technology trends in Finland. However, noting the lowercase ‘f’, I realized this was just another buzzword to learn. The term fintech, or financial technology, refers to computer programs and other technology used to support or enable banking and financial services. Allegedly, "fintech is one of the fastest-growing areas for venture capitalists", so ‘f’ me on that one, here are the four hottest trends in fintech as forecasted by the Data Driven Investor (DDI) team.

The financial technology sector has been experiencing a boom as the next generation of tech-savvy consumers of financial services are starting to choose banking apps over visiting branches, are investing in cryptocurrencies instead of buying stocks, and are applying for loans on peer-to-peer lending platforms instead of at their banks. Consumer demand-driven innovation in the fintech sector has led to a change in how individuals and businesses interact with financial services. This can be witnessed by the fintech sector’s hottest current trends, which include an increased push for more mobile-based services, the adoption of artificial intelligence (AI) technology, the implementation of biometric security, and a move towards more cloud computing.

1. GOING MOBILE

Source: CoinTelegraph

Following recent reports that Chinese e-commerce conglomerate Alibaba launched its own cryptocurrency mining platform, the company has issued an official statement Tuesday, Jan. 16, denying that its platform is related to either virtual currencies or their mining.

According to the official statement, published on the microblogging platform Weibo, Alibaba’s recently launched platform ‘P2P Nodes’ has been mistakenly reported as cryptocurrency-related.

The statement further clarifies that the platform is actually a peer-to-peer (P2P) Content Delivery Network (CDN) service provided by Alibaba Cloud designed to allow users to improve their network speed by sharing unused broadband connections with each other.

Graphic provided by Investopedia.com

Read more: What Is Bitcoin? | Investopedia https://www.investopedia.com/tech/what-is-bitcoin/#ixzz53ECtRfYg Follow us: Investopedia on Facebook

By Donna Fuscaldo - Investopedia

Bitcoin's wild ride continued over the holiday weekend, with the value plummeting a double-digit percentage, only to recoup some of that in trading Tuesday. While the cryptocurrency market is unregulated and is not tied to any public companies or indexes, it is only a matter of time before its volatile nature seeps into the stock market, predicted Christopher Harvey, head of equity strategy at Wells Fargo & Company (WFC).

In an interview with CNBC late last week, Harvey said that the slump in bitcoin over the holiday season will spill over into other investments. "There's a significant amount of froth in the crypto markets. We do think that if that froth comes out, it will spill over. It's not going to happen in a vacuum," Harvey said. "And we're beginning to see a very small glimpse of that today, with technology down a little bit." Earlier in December, bitcoin was trading at more than $19,500, only to plummet to a low of slightly higher than $12,000 on Friday. As of Wednesday, bitcoin was valued at $15,765, recouping some of those losses.

[Ally Invest offers powerful charting tools and $4.95 trades. Read Investopedia's Ally Invest review to learn more about this low-cost broker.]

Poverty, Inc. is a 91-minute documentary inquiry into the nature of human flourishing and the effects of the multibillion-dollar poverty industrial complex erected to promote it.

The film challenges current perceptions of global charity and promotes entrepreneurship as an effective alternative to alleviating world poverty

Source: Winnie Sun - Forbes

With the calendar moving to February comes the opportunity to reflect on progression toward our goals for 2017. But how many people looked back in December and actually kept their 2016 New Year’s resolutions? Very few.

But that doesn’t mean it can’t be done. It just means that people need to be mentally stronger and more resolute to hit those goals, especially their wealth goals.

Here are 6 financial habits of mentally strong people you can follow so that you can realize your money resolutions this year.

They Maintain a Positive Outlook Toward Their Finances

“My attitude has always been, if you fall flat on your face, at least you're moving forward. All you have to do is get back up and try again.” - Richard Branson