The go-to blockchain for decentralized finance has always been Ethereum (ETH) till recently. It has the great advantage of being a first mover, so plenty of investors are already aware of ETH and its use cases. ETH tokens also played a role in the ICO bonanza of 2017 and 2018, and are becoming highly active again in their new role as the backbone of the DeFi market in 2020.
The DeFi market has grown by leaps, increasing the value locked by more than 50 times in the past 12 months. This market, however, is not a single entity but a…
Since breaking its all time high valuation twice within 3 months, there is a lot of buzz surrounding Bitcoin’s price. While Bitcoin’s valuation may go further in the future, the most exciting part of the blockchain story is Fintech can play a key role in DeFi (decentralising finance).
The last time Bitcoin peaked was in December 2017 amid extreme hype about blockchain’s potential to transform the financial system. Unfortunately, these expectations were ahead of their time. This resulted in a lengthy bear market that saw Bitcoin crash by more than 80 per cent.
Given Bitcoin’s surging price, it appears that…
Regardless of scepticism around cryptocurrency, the use case of blockchain within certain industries and for specific processes has gained general acceptance. One of the most popular implementation of blockchain that has attracted much hype is nonetheless, Decentralized Finance (DeFi).
While DeFi adoption has not reached the heady heights of cryptocurrency mainstays such as Bitcoin and Ethereum, there is a steady increase in the financial sector, experimenting and using Ethereum and Dapps (Decentralised App) that are already available to build one or more financial applications.
From small startups to traditional finance institutions like Barclays and J. P. Morgan, DeFi is providing…
Prior to 2020, many investors would be hard-pressed to find any astronomical rise in the value of any assets or the expansion of any financial ecosystem like the DeFi sector.
But in the second half of the year, there was a great increase in the number of DeFi projects, fuelled by the digital transformation of businesses especially via the use of blockchain technology and DeFi. This was driven by the necessity of automating business processes to weather the Covid-19 pandemic.
As of 6th Jan 2021, the total value locked in DeFi has achieved an all-time high of US$21 billion, and…
As we round up the year 2020, the Plutus Capital team is already working on new developments for 2021. So as to improve the user experience on our lending platform and transactions of the Plutus token.
Token Chain Upgrades
Our community of developers is close to completing a revamp of the Plutus chain.
This upgrade will improve the smart contract functionality for faster and smoother PLT transactions on the platform.
New Feature — Rebasing
Together with the improvements to the chain, the team is also working on creating a rebasing mechanism so that the Plutus token becomes price elastic.
2020 will be remembered as the year where Covid-19 crippled global economies and industries. However, the global pandemic actually helped financial technology to boom.
Businesses, merchants, consumers, and financial institutions alike learned to quickly adopt new technologies due to restrictions placed on movement and gatherings.
People couldn’t commute to the office for work, yet businesses still had to run. Trips to the supermarket were restricted, yet families have to eat. Students had to stay at home, yet learning still had to be done in order to sit for mid or year-end exams. …
While the use of blockchain technology in finance has progressed tremendously in Asia, especially in China and Singapore, the United States is still catching up on global developments in financial technology and cryptocurrency.
One reason is the outdated regulatory framework, which does not prevent FinTech talent from taking their expertise outside of America. There is also a lack of support from outgoing President Donald Trump, who previously tweeted that he is “not a fan of Bitcoin and other cryptocurrencies”.
However, the poor performance of traditional markets, as well as the impact of Covid-19 on America in 2020, has people turning…
Mark your calendars for this November 11, for the listing of Plutus token (PLT) on DigiFinex! Starting from 11am (GMT+8), investors can trade PLT on the crypto exchange.
PLT will be listed at US$1.20, and be paired with USDT. More cryptocurrency pairings will be available in the future.
The decision to list Plutus token on DigiFinex is voted by our existing community members in order to increase the liquidity of PLT, and expand the community of the Plutus ecosystem.
To support this, Plutus Capital is running a series of events with Digifinex from November 11, 11am (GMT+8) until November 20…
The biggest financial news in recent weeks is the IPO of Ant Group — it was to be the largest IPO in the history of all IPOs (until it was suspended on November 2, 2020).
The FinTech group is known for its Alipay mobile wallet app that handles payments. However, it aims to be a one-stop digital financial hub that also provides users access to investing, insurance services, and wealth managment with the use of financial technology and cloud services.
The expansion of financial technology services by the Ant Group is an indication of the growth and acceptance of FinTech…
When you think of borrowing money, you think of borrowing large sums of money from a bank, while you may approach family or friends to borrow a small amount of money.
But what if no one is willing to lend you a small amount of money, and banks will not lend to you as the amount is too small for them?
One solution is FinTech lending apps.
What is FinTech
The word FinTech means Financial Technology. It refers to any technology that is used for automating financial transactions.
In recent years, the term FinTech has also been used to refer…