Swipe It Pro To Launch Blockchain- Based Banking Solution

MoneyTrac Technology, a subsidiary of Global Payouts Inc., today launched its blockchain-based banking solution,Swipe It Pro has become an ISO for MTRAC. MTRAC will provide a full-service banking solution powered by GreenBox blockchain technology, targetting the unbanked and, in particular, the legal cannabis industry in California and other states that have recently legalized recreational use of the substance.

MTRAC CEO Vanessa Luna said, in a statement, “The goal of MTRAC, from the beginning, has been to leverage the different technologies available to us to remove the use of cash as the primary form of payment throughout the cannabis industry. While other companies have struggled to find supportive financial solutions, MTRAC opted with Swipe It Pro to take a different approach and one that has relied heavily on the use of blockchain technology to address this problem for a massive and growing industry. I am extremely excited to see MTRAC, our payment solution, officially launch next week. Once this happens, I am confident that every dispensary desiring legitimacy and transparency will jump on board and provide us with a number of new clients to serve.”

Many dispensaries and other members of the emerging legal cannabis supply chain have been unable to receive traditional banking services due to the legal uncertainty created by differences in state and federal law. Where the former has legalized the sale and use of cannabis, the latter still treats the drug as dangerous and illegal to sell or transport across the United States, according to the company’s statement.  

Despite many potentially lucrative clients seeking banking and other financial services, fear of regulatory action for allegedly facilitating illegal activities has kept US banks on the sidelines in this rapidly growing industry, said the company. Greenbox blockchain technology offers to fill this void, in addition to creating an immutable ledger of sales and transactions and helping to reduce fraud and theft in an industry that would benefit from additional supply chain monitoring and a reliable cashless method of processing payments and remittances.

Chris Corey Anthony Martin

Swipe It Inc

www.swipeitpro.com

Thecashdiscount@gmail.com

(810)3080872

Chris Corey

Michigan Cannabis

 

 

Recreational marijuana will become legal on the books in Michigan starting Dec. 6, according to an official with the Secretary of State office.

Fred Woodhams with the Secretary of State office in Lansing tells 13 ON YOUR SIDE, the State Board of Canvassers will meet Monday, Nov. 26 and the new law will officially take effect Dec. 6.

The law takes ten days after the election results are certified. But marijuana won’t be commercially available for sale until probably early 2020.

The Detroit Free Press reports this in part because the state must still put regulations in place and issue licenses for recreational sales. “It’s not going to be an earth-shattering change,” said Jeffrey Hank, the East Lansing attorney who was one of the leaders of the effort to get the legalization question on the ballot. But after certification, “Adults will no longer be arrested for simple possession and use of marijuana.”

The recreational proposal once certified will:

  • Allow individuals age 21 and older to purchase, possess and use marijuana and marijuana-infused edibles and grow up to 12 marijuana plants for personal consumption.
  • Impose a 10-ounce limit for marijuana kept at residences and require that amounts over 2.5 ounces be secured in locked containers.
  • Create a state licensing system for marijuana businesses, including growers, processors, transporters and retailers.
  • Allow municipalities to ban or restrict marijuana businesses.
  • Permit commercial sales of marijuana and marijuana-infused edibles through state-licensed retailers, subject to a new 10-percent tax earmarked for schools, road and municipalities where marijuana businesses are located.

Read more:

Medical marijuana shops could run out of pot

Prosecutor dropping pot cases after Mich. vote

Growing marijuana at home in Mich. will be hard

Proposal 1 was approved by voters in Michigan on the Nov. 6 election.

Michigan will become the 10th state in the nation and the first in the Midwest to legalize marijuana for recreational use, joining California, Oregon, Washington, Alaska, Colorado, Nevada, Massachusetts, Vermont, Maine and Washington, D.C.

Some college campuses in Michigan have been reminding students that marijuana is still banned on their campuses.

Chris Corey

810-308-0872

Contributor: Mike Thompson

Chris Corey

Surcharge is NOT the same as Cash Discount

I’ve witnessed a recent spike in interest in cash discount programs. I’ve heard from our sales executives and partners that business owners increasingly are asking about cash discount programs. Google Trends data indicates that searches for “cash discount program” doubled in the second half of 2017.

This activity made me wonder, why the sudden interest in cash discounts? After all, cash discounts have been around for many years. It also made me curious about the interest in cash discount programs compared to convenience fees and surcharges, which have grown in recent years. Upon reflection, I came to realize that, when implemented properly, cash discount programs combine the most attractive elements of cash discounts and surcharges in a single program.

The topic of cash discounts and surcharges can make your head spin, as they are subject to many specific laws and rules. So, what is a cash discount and is it the same thing as a surcharge?

A cash discount is a reduced price paid by customers who use cash or check rather than a credit or debit card. A surcharge is an extra charge that applies to customers who pay with a credit card rather than other forms of payment, including debit cards, cash and check.

The payment networks such as Visa and MasterCard have specific rules for surcharges to comply with a settlement with the U.S. government in 2012. In addition, ten states prohibit surcharging.

Cash discounts are permitted according to U.S. law and Visa and MasterCard rules. One way of implementing a cash discount program is gaining popularity. Businesses post signs indicating that a service fee such as 3% will be added to all posted prices, but the fee will be waived for those who pay with cash or check. In other words, the fee will apply to purchases made via credit card, debit card and prepaid card – anything except cash or check.

The service fee can offset the costs of processing card payments, yielding significant cost savings for merchants. While surcharge programs are limited by rule to credit cards, cash discount programs have the advantage of offsetting the costs of debit card payments as well. Of course, they also motivate more customers to pay with cash and check. I believe this explains the recent interest in cash discount programs.

Is a cash discount program right for your business? That depends on many factors, as discussed in this blog post.

Chris Corey 

Swipe It Inc

(810)308-0872

Chris Corey

Understanding Cash Discount With Swipe It Pro

Cash discount processing with Swipe It Pro allows merchants to eliminate up to 100% of their processing fees by adding a small service charge to the credit card transaction at the point-of-sale, or fully discounting that service charge if a customer pays by cash. Cash discounting is legal in all 50 states and SIP uses patented cash discount technology to service its merchants. 
“Though cash discounting has been available for several years now, most merchants have not heard of it until recently. But once they understand the value, like saving hundreds of dollars per month in processing fees, or more, it’s really a no-brainer,” stated Anthony Martin, Swipe It Pro's Chief Financail Officer.

Said Chris Corey Nationa lSales Trainor, “For a sales person, the cash discount conversation breaks down the ‘rate’ barrier. So instead of talking about the few basis points they may be able to save a merchant, a sales rep can just talk about eliminating fees. And the attrition rate for merchants using cash discounting goes down significantly. Think about it: what merchant wants to go back to paying hundreds of dollars per month or more in fees after not paying anything? Not to mention the revenue opportunity for the sales person, typically three times that of a merchant not using the product.” 

Set-up for a merchant is easy Swipe It Pro provides all the needed signage for a merchant to be compliant and transparent, from point-of-entry to point-of-sale. Thousands of merchants around the country are offering a cash discount and reaping the financial benefits. But should a merchant decide the product isn’t for them,  Swipe It Pro will, without penalty, put them back on a traditional, fee based model. For more information, please call Chris Corey at 810-308-0872, thecashdiscount@gmail.com or visit Joinpaylo.com/swipeit

Chris Corey

Analysts Blame Gold’s Fall On Bitcoin’s Rise

Analysts Blame Gold’s Fall On Bitcoin’s Rise

Get Mining Bitcoin Learn How Here

As bitcoin’s price has surged, gold has suffered. Some market analysts see a correlation. Gold and bitcoin have both been viewed as safe havens for capital during periods of uncertainty for asset values. 

GDX price for the last three months. Source: Ycharts.com

As bitcoin’s price has soared, some analysts think investors are favoring bitcoin as an investment, causing gold to lose value.

Gold Hits Low Point

GDX, an exchange-traded fund for gold miners, has lost 15% of its value since September while gold prices have fallen to its July low point.

Larry McDonald, who oversees U.S. macro strategy at ACG Analytics, said gold’s declines have been accompanied by lower bond yields, a situation the strategist calls unusual.

McDonald told CNBC that every time rates have declined in the last two years, gold has increased. There has been an 82% correlation between bonds and gold prices, he said, but this past week, that correlation dissolved. He pointed to bitcoin as the cause for this.

The growth of bitcoin and cryptocurrencies could bring an even greater downside for gold, McDonald said.

Also read: 51% of respondents choose bitcoin over gold and fiat; Ron Paul survey

Bitcoin Eats Into Gold

Cryptocurrencies currently have a market capitalization equal to 23% of liquid tradeable gold, McDonald said. That figure has increased 2% or 3% over a year ago, so cryptocurrencies are definitely eating into the gold.

While gold has declined more than 2% in the last month, bitcoin has more than doubled its value.

Sunday’s launch of the CBOE bitcoin futures took bitcoin to close to $16,800 by Monday morning. Gold, meanwhile, has remained near its July lows.

Phillip Streible, a senior market strategist at RJO Futures, said bitcoin futures contracts will hold a key indicator for gold’s future. If bitcoin futures collapse, gold will gain, he said on CNBC’s “Power Lunch.” Gold will regain its attraction as a safe haven store of value.

CME, another exchange, will launch its bitcoin futures on Dec. 18.

Featured image from Shutterstock.

Chris Corey CMO Markethive.com

Start Mining Bitcoin

Contributor: Lester Coleman on 12/12/2017

 

 

 

Chris Corey

Traditional Money on the Decline Amid Rising Interest in Digital Currencies

Paying with traditional banknotes is on the decline as interest in contactless payments and digital currencies rises.

That’s according to the co-founder of the Sohn Conference Foundation. Speaking with CNBC on the sidelines of the Sohn Conference in London, Evan Sohn said that a world without fiat money is quickly approaching, adding:

How far are we from a restaurant that says we only take online payment? If you eat here, you have to download this application and we only take electronic payment, no cash here, no check.

Even though most payments are still conducted with cash, Sohn thinks that we’re not far away from facing a reality that doesn’t include traditional banknotes.

These feelings similarly mimic those of venture capital investor Tim Draper, who believes that digital currencies, such as bitcoin, will replace fiat currency in five years time. At a conference in Portugal, last month, Draper explained:

In five years, if you try to use fiat currency they will laugh at you. Bitcoin and other cryptocurriences will be so relevant … there will be no reason to have the fiat currencies.

According to Draper, the fiat system will eventually disappear as more people turn to bitcoin and ethereum. He also believes that at some point all the digital currencies – currently numbering 1,025 – will interrelate making it simple to use them across borders compared to traditional money.

With the digital currency market increasing in value more interest will naturally turn to investing in them. At present, bitcoin’s is trading around $10,700, recovering from an earlier dip in price that saw it drop to $9,200 earlier this week, amid volatile trading. Whereas, ethereum is hovering around $461, according to CoinMarketCap.

Yet, even though bitcoin is rising in value, its acceptance at retail stores or even restaurants remains limited. Not only that, but with bitcoin’s value continuing its upward trajectory people are more than likely going to hold on to their coins rather than spend them.

One country that has embraced bitcoin payments is Japan. In May, it was reported that around 300,000 retailers and companies in the country may accept the digital currency in 2017. Earlier in the year, Japan imposed legislative changes accepting bitcoin as a legal form of payment, further highlighting bitcoin’s growing popularity in the country.

Sohn adds, though, that while he believes fiat currency will be replaced, he’s not sure if that will be by bitcoin, ethereum, Mastercard or something else, adding:

Chris Corey CMO Markethive Inc

To learn more about cryptocurrency and blockchain come join Markethive for free

Contributor: Rebecca Campbell

Chris Corey

Bitcoin hits record high after developers call off plans to split digital currency

Bitcoin hits record high after developers call off plans to split digital currency

  • Bitcoin was scheduled to upgrade around Nov. 16 following a proposal called SegWit2x, which would have split the digital currency in two.
  • However, more and more major bitcoin developers dropped their support for the upgrade in the last few months.
  • Developers behind SegWit2x announced Wednesday they are calling off plans for the upgrade until there is more agreement in the bitcoin community.

 

Bitcoin developers call off SegWit2x upgrade, avoiding hard fork  2 Hours Ago | 00:49

Bitcoin jumped Wednesday after the developers behind an upcoming split in the digital currency through an upgrade called SegWit2x announced they were suspending plans for the upgrade.

The digital currency hit a record high of $7,879.06, according to CoinDesk. Bitcoin gave up much of those gains Wednesday afternoon to trade near $7,212 after hitting a session low of $7,078.96.

The SegWit2x upgrade was scheduled to take effect around November 16 in an effort to increase the speed and cost of bitcoin transactions. However, more and more major bitcoin developers dropped their support in the last few months.

Bitcoin in the last 24 hours

Source: CoinDesk

"Our goal has always been a smooth upgrade for Bitcoin," a group of leaders in bitcoin development told members of the SegWit2x mailing list Wednesday. "Unfortunately, it is clear that we have not built sufficient consensus for a clean blocksize upgrade at this time. Continuing on the current path could divide the community and be a setback to Bitcoin's growth. This was never the goal of Segwit2x."

As fees rise for bitcoin transactions, the developers said they hoped the digital currency community could find agreement on how to solve the problem. "Until then, we are suspending our plans for the upcoming 2MB upgrade."

The statement ended with the names of six major figures in the bitcoin business community:

BitGo CEO Mike Belshe, Xapo CEO Wences Casares, Bitmain co-founder Jihan Wu, BloqInc co-founder Jeff Garzik, Blockchain CEO and co-founder Peter Smith and ShapeShift CEO Erik Voorhees.

For most of this year, investors have had a negative view on bitcoin splits out of uncertainty over the digital currency's future. However, since bitcoin rose to record highs after its August split into bitcoin and bitcoin cash, investors began betting that subsequent splits would send the price of the original bitcoin higher. Investors at the time of a split also technically receive an equivalent amount of the offshoot currency.

Bitcoin cash traded mildly higher near $619 Wednesday, according to CoinMarketCap. Another digital currency, ethereum, rose about 4.5 percent to $307.55, according to CoinDesk.

Chris Corey CMO MarketHive Inc

Author: @chengevelyn

 

Chris Corey

Global Bitcoin ATM Proliferation Nearly Doubled During May

Global Bitcoin ATM Proliferation Nearly Doubled During May

The global proliferation of bitcoin ATMs nearly doubled during May when compared with April. The United States and Canada saw increases in the number of bitcoin ATMs by almost 8%, whilst Russia’s bitcoin ATM presence evaporated following the withdrawal of Bitlish.

Also Read: South Korea to Dispose of 216 Bitcoins in First Public Auction 

Coinatmradar Reported an Overall Growth in the Number of Bitcoin ATMs of 6.7% Internationally

May saw significant price gains. Last month also saw a considerable expansion in the number of bitcoin ATMs internationally.

Coinatmradar reported an overall growth in the number of bitcoin ATMs of 6.7 percent internationally, as May saw 95 new bitcoin ATMs installed. 17 bitcoin ATMs were closed bringing the total of reported bitcoin ATMs to 1236.

Global Bitcoin ATM Proliferation Nearly Doubled During May

The majority of the growth took place in North America, with America seeing 7.9% (+55 ATMs), and Canada seeing the growth of 7.8% (+12 ATMs). The United Kingdom saw growth of 11.5% (+7 ATMs), and Japan saw growth of 36.4% (+4 bitcoin ATMs).

Bitlish closed its three ATMs located in St. Petersburg, which were the sole bitcoin ATMs in Russia reported to the site Coinatmradar. Bitlish’s exit from the Russian market comes amidst claims that it plans to install 5,000 new bitcoin ATMs across Europe – although the company’s hasty exodus has left some analysts skeptical regarding how long the ATMs are likely to remain open.

North America Currently Host 75% Percent of All Bitcoin ATMs Globally

As indicated by Coinatmradar, The United States currently holds a significant lead over countries for the number of active ATMs, with 851 currently in operation. Canada is second with 167 ATM locations, followed by the United Kingdom (68 ATMs), Spain (34 ATMs), Austria (25 ATMs), and Finland (21 ATMs).

Global Bitcoin ATM Proliferation Nearly Doubled During May

North America currently host 75% percent of all bitcoin ATMs as reported by Coinatmradar. European ATMs accounts for 20% per cent of the total.

Coinatmradar’s data almost entirely pertains to major companies issuing bitcoin ATMs, and thus is likely an inacurate representation of the number of bitcoin ATMs that are independently or privately installed.

Although the number of ATMs issued by major companies in a region is a narrow indicator by which to judge the development of its cryptocurrency economy, this data suggests that much of the developing world still has a long way to go in developing its cryptocurrency economy and infrastructure.

Do you think that more bitcoin atms is a good thing for the cryptocurrency economy? Tell us your thoughts below!


Images courtesy of Shutterstock

Chris Corey 

CMO Markethive Inc

To learn more about Bitcoin Click here

Chris Corey

Japan’s Largest Online Travel Agent Bringing Bitcoin to 1400 Hotels This Summer

The bitcoin exchange Bitpoint has partnered with Japan’s largest online travel agent Evolable Asia to bring bitcoin payments and exchange services to over 1,400 hotels and inns across Japan this summer.

Also read: Japan’s Bitpoint to Add Bitcoin Payments to 100,000+ Stores

Bitcoin Coming to 1400+ Accommodation Facilities

 

 

https://www.ivocalize.net/#room/TheHive

Bitpoint, a subsidiary of the publicly traded conglomerate Remixpoint, last month partnered with Peach Aviation and announced that it was bringing bitcoin payments to over 100,000 stores in Japan. Last week, it has fulfilled some of its promises and confirmed that over 1,400 accommodation facilities across Japan will soon start accepting bitcoin. This is made possible through a partnership with Japan’s leading online travel agent Evolable Asia.

According to Bitpoint:

The aim is to enable customers to exchange bitcoin to Japanese yen at hotels and inns across Japan, including at Airtrip Exchange stores and 1400 contract facilities in the Evolable Asia Group. This service will begin this summer.

Bitcoin can both be exchanged for yen and be used to pay for lodging by customers in each participating accommodation facility, according to the company.

Japan's Largest Online Travel Agent Bringing Bitcoin to 1400+ Hotels This Summer

Japan’s Largest Online Travel Agent

Japan's Largest Online Travel Agent Bringing Bitcoin to 1400+ Hotels This Summer

Evolable Asia handles online ticket sales for many websites. “If you’ve ever booked a flight or vacation package in Japan, there’s a good chance you did it through Evolable Asia – though you may not know it,” wrote Tech in Asia. In addition to its own online travel portals, more than 600 domestic travel sites use its in-house technology to power their own flight, hotel, and tour package searches, the publication detailed.

Japan’s leading independent investor relations support service company, Investment Bridge Co. Ltd, provides analysis of publicly traded Japanese companies. In March, the company published a report on Evolable Asia, stating that:

Evolable Asia Corp. is Japan’s largest Online Travel Agent (OTA) in terms of its number of domestic airline tickets handled. It is the only OTA that has signed agreements with all of the domestic airline groups.

Headquartered in Tokyo and Ho Chi Minh City with four offshore offices spread around Vietnam, Evolable Asia became a publicly traded company on the Tokyo Stock Exchange on March 31, 2016. It also opened headquarters in Silicon Valley early last year.

Evolable Asia has partnered with airlines, railway companies, and accommodation facilities to provide various tourism services. Among its partners are Japan’s largest airline All Nippon Airways (ANA), Peach Aviation, Japan Airline (JAL) and East Japan Railway Company.

The company offers an integrated mobile travel service platform called Airtrip, available for iOS and Android. In February, it also entered into the currency exchange business and launched a subsidiary called Airtrip Exchange.

The aim of the exchange service is to meet the needs of foreign travelers, especially during times which banks are not open. Subsequently, through a partnership with leading Japanese telecommunication service company Vision Inc., Airtrip Exchange opened two booths in April and the third one on June 1. The exchanges currently handle 12 major currencies, but will soon add bitcoin exchange as well, Evolable Asia announced.

What do you think about Evolable Asia bringing bitcoin payments and exchange services to 1400+ accommodation facilities across Japan? Let us know in the comments section below.


Chris Corey 

CMO Markethive Inc

Images courtesy of Shutterstock, Evolable Asia, and Bitpoint

By Kevin Helms 

 

Chris Corey