The future of payments can be found in cryptocurrency. At the moment, 6% of all businesses accept it as a form of payment, including Whole Foods, Facebook, Nordstrom, AT&T, and Virgin, says NetCents Technology. More than 40% of consumers want to make purchases using cryptocurrency. Better, PayPal just confirmed its working to bring cryptocurrency capabilities to its platform, which lead to greater adoption. After all, “if a financial service with 325 million active users starts listing digital assets, it is likely to make crypto more viable in the eyes of the financial mainstream,” says Coin Telegraph. With greater adoption likely, some of the top companies to watch include NetCents Technology Inc. (CSE: NC)(OTCQB: NTTCF), Square Inc. (NYSE:SQ), Paypal Holdings Inc. (NASDAQ:PYPL), HIVE Blockchain Technologies Ltd. (OTC:HVBTF)(TSXV:HIVE), and Visa Inc. (NYSE:V).
NetCents Technology Inc. (CSE: NC)(OTCQB: NTTCF) BREAKING NEWS: NetCents Technology Inc., a cryptocurrency payments technologies company announced the addition of Jannis Flachsmann to the Advisory Board.
Mr. Flachsmann is a Senior Attorney at GHM Partners AG focusing on Legal, Tax, and Fiduciary Matters. Previously he was an attorney at the firms of Weidmann Rudolf & Partner and Lichtsteiner Rechtsanwaelte. Mr. Flachmann also worked at the Civil Court of the Canton of Zug, Switzerland. Notable about his experience is that he has lived and worked in Zug, Switzerland, for almost his entire career. Zug is a highly respected hub for legal and technology matters relating to the growing cryptocurrency industry. Mr. Flachsmann obtained his Masters of Law (LL.M.) degree from Fordham University.
“I have been watching the cryptocurrency and blockchain industry mature for the last few years, but I think that 90% of the growth is still to come,” stated Mr. Flachsmann. “I am very excited to bring my unique experience, legal skillset, and connections to NetCents.”
“Mr. Flachsmann will bring a unique dimension to our advisory board and add immensely to our capabilities to react to a very dynamic landscape,” stated Clayton Moore, Founder and CEO of NetCents Technology. “The taxation considerations of cryptocurrency are extremely complicated. Having someone as well versed as Mr. Flachsmann will give us a strategic edge in winning the large international corporate customers we are now soliciting.”
NetCents continues the buildout of its European presence, including specific resources dedicated to servicing European customers from an operational, banking, and sales perspective. “Europeans are more focused on having financial capabilities that aren’t tied directly to government agencies. They are more open to the cryptocurrency products we are building, so we are going to capitalize on that momentum,” added Mr. Moore. The Company is looking forward to sharing developments with investors regarding its European efforts.
Other related developments from around the markets include:
Square Inc. (NYSE:SQ) will release financial results for the second quarter of 2020 on August 5, 2020, after market close. Square will also host a conference call and earnings webcast at 2:00 p.m. Pacific Time/5:00 p.m. Eastern Time on the same day to discuss these results. The live webcast of the call can be accessed from Square’s Investor Relations website.
Paypal Holdings Inc. (NASDAQ:PYPL) released new research looking at purchasing behaviors of credit card rewards holders during the COVID-19 pandemic, revealing people around the country are turning to rewards balances to help them stretch their budgets (29%) and purchase the things they need most, such as groceries. However, with 39% of credit card rewards holders unaware of their rewards balances, there’s an opportunity for more people to uncover funds which could extend their budgets and help them buy the things they need most. “More and more people across the country are turning to their credit card rewards as a helpful and easy way to make their dollars go further, and in the current environment, two thirds of Americans (66%) now view these rewards balances as a way to buy the things they need such as groceries and other essentials,” said Jill Cress, vice president of consumer marketing at PayPal. “With travel and luxury items still less of a priority for many right now, our research shows that people are instead tapping into their rewards balances to support small businesses in their community and to give back to causes.”
HIVE Blockchain Technologies Ltd. (OTC:HVBTF)(TSXV:HIVE) announced that it has ordered 200 Bitmain Antminer S17e 60 Terahash per second (TH/s) SHA 256 mining machines as it continues to scale up next generation mining power at its green energy-powered bitcoin mining operation in Quebec. The cost for the S17e machines was approximately US$950 per unit, or just under US$0.2 million, financed through the Company’s cash. Delivery and installation of the new mining equipment is anticipated to occur in July. Following installation, excluding further purchases, HIVE estimates its aggregate operating hash rate specifically from next generation mining equipment at its Quebec facility, will be approximately 131 Petahash per second (PH/s), utilizing less than 6 MW power. This equates to approximately 22.6 PH per megawatt of power, which HIVE believes is one of the most energy efficient bitcoin mining operations in Canada.
Visa Inc. (NYSE:V) will report its fiscal third quarter 2020 financial results on Tuesday, July 28, 2020. The results, along with accompanying financial information, will be released after market close and posted on the Visa Investor Relations website. Visa’s executive management team will then host a live audio webcast beginning at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss financial results and business highlights. All interested parties are invited to listen to the live webcast at http://investor.visa.com. A replay of the webcast will be available on Visa’s Investor Relations website for 90 days.
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