Mobilecoin will try to integrate crypto with mobile payments

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Mobilecoin will try to integrate crypto with mobile payments

Mobile payments are currently mainly dominant in China and Asia.

To get a sense of how pervasive mobile payments have become in China, consider that on the eve of this year’s Spring Festival, 668 million people on Tencent Holding’s WeChat app sent virtual hongbao – digital red packets containing money – to friends and family as part of their well wishes for the new year.

From January to October last year, government statistics showed that mobile payment transactions in China amounted to a staggering 81 trillion yuan (US$12.8 trillion), making it the world’s largest mobile payments market. In contrast, the US mobile payments market was worth just US$49.3 billion last year, according to data from eMarketer.

A href=”https://techcrunch.com/2018/04/24/mobilecoin-moxie-marlinspike-binance-labs/” target=blank>The team at MobileCoin announced that Binance Labs, the major blockchain incubatorA associated with the Binance exchange, led a $30 million round denominated in bitcoin and ether for the new cryptocurrency.

MobileCoin transactions will synchronize to the coin’s network using the Stellar Consensus Protocol for scalability and speed. The end product will emphasize user privacy and integration into mobile messaging apps, including WhatsApp and Signal — two apps that use Marlinspike’s end-to-end encrypted Signal Protocol.

Deloittes Global Powers of Retailing identifies the 250 largest retailers around the world based on publicly available data for FY2016 (fiscal years ended through June 2017), and analyzes their performance across geographies and product sectors. It also provides a global economic outlook and looks at the 50 fastest-growing retailers and new entrants to the Top 250.

Young consumers from Pearson College London were surveyed to share how they and their peers shop and how they see the future of retailing.

They say a future of e-payments shifting towards cryptocurrencies.

Highlights

Aggregate retail revenue of the top 250 global retailers is $4.4 trillion.
90 percent of worldwide retail sales are still done in physical stores.

The rest of the retailing world is not about to sit idly by and watch Amazon shoot up the retail ranks and steal market share. Many players that may have initially been on the sidelines, failing to keep up with digital trends, are now making up for lost time in a big way.

A recent study finds that global grocery sales through e-commerce channels jumped 30 percent in the past year.

Countries leading the growth charge were
China (+52%),
South Korea (+41%),
the UK (+8%),
France (+7%), and
Japan and the US (both +5%).
China is the world’s dominant e-commerce—and mobile—market.

Two of the top three fastest-growing retailers in 2016 are China-based e-commerce retailers Vipshop and JD.com.

By | 2018-05-03T23:55:14+00:00 May 3rd, 2018|Categories: cryptocurrency, exchanges, fintech, world|Tags: , , , |Comments Off on Mobilecoin will try to integrate crypto with mobile payments

About the Author:

Brian Wang, MBA and BSc, is a business oriented futurist, speaker and author of emerging and disruptive technologies. Sole author and writer of nextbigfuture.com, a science focused news site that covers disruptive technologies and trends globally in industries including Medicine, Technology, Science, Artificial Intelligence, Robotics, Biotechnology, Nanotechnology, etc. Nextbigfuture is Ranked #1 “Science News Blog” worldwide by Alexa, an Amazon company. Website traffic: 2M page views per month and 4M unique readers annually. Lecturer at Singularity University - provided 4 annual reviews of developments in nanotechnology. Sought after speaker at TEDx (lecture on Energy), University of Toronto (futurism) and Transhuman Visions. Contributor on 10-year plan for the Institute for the Future.