EncryptoTel weekly digest 5.05.20
The triumph of Zoom, the fall of BitMEX and Blockchain from LG
The number of daily Zoom users has jumped 30 times since December 2019
The CEO of Zoom Yarik Yuan announces an increase in daily users to 300 million. Back in December 2019, the platform had only 10 million users per day. Amid an explosive growth in demand for platform, Zoom shares on Nasdaq gained 5% in the past 24 hours alone.
Zoom will also enter Nasdaq 100 Index, a stock index that includes shares of the 100 largest companies whose shares are traded on the Nasdaq stock exchange.
Previously Google, which owns Google Class and Hangouts, a competitor service to Zoom, banned its employees from using Zoom apps on work computers, tablets, and smartphones. Google explained it by inconsistency with their “quality standards”.
BitMEX Loses Leadership in Bitcoin Futures Market
The BitMEX crypto exchange failed to regain market share among Bitcoin futures trading platforms after the fall of Bitcoin in mid-March. Then bitcoin fell in price by almost half, and although cryptocurrency has significantly grew back since then, the trading volume of bitcoin futures on the BitMEX exchange has not returned to its previous values. According to CoinMetrics, the number of bitcoins on the exchange’s accounts continues to decline and now amounts to slightly less than 220,000 BTC. In early March, this figure was above 280,000 BTC.
The pressure on BitMEX is also exerted by main competitors — Binance, which at the end of March managed to bypass BitMEX in terms of trading bitcoin futures, although it appeared at Binance only six months ago. According to the Skew research company, on March 24 the daily trading volume at Binance Futures reached $ 3.44 billion, which is 8.9% more than BitMEX. The leaders in terms of trading volume of Bitcoin futures are OKEx and Huobi crypto-exchanges.
Survey: central bank cache and digital currencies give more confidence to people than bitcoin
Only 26% trust a decentralized digital currency, according to a survey conducted by the Economist Intelligence Unit and digital payment platform Crypto.com. Confidence in the digital currency issued by the central bank is much higher — more than half of the respondents (54%) stated that they consider it worthy of trust. 40% of respondents are ready to put their trust in a private digital currency issued by a large financial firm, and 36% going for international technology companies.
Decentralized currency was called “definitely not trustworthy” by more than a third of respondents (38%) versus 14% in relation to CBDC. But the most trustworthy currency traditionally turned out to be the good old cache, paper notes and coins. 84% of respondents trust them.
The survey involved 3,000 respondents from countries such as the USA, UK, France, South Korea, Australia, Singapore, Brazil, Turkey, Vietnam, South Africa and the Philippines.
LG is testing blockchain-based payment platform
South Korean smartphone maker LG CNS has begun testing a new face recognition service for its employees. The platform utilizes blockchain, cloud technologies and machine learning elements. After identification, the system allows an employee to pay for services and products in a corporate restaurant with digital currency based on the blockchain.
“We believe that a community-based currency will be used by a lot more people, because its convenience is increasing, in particular thanks to AI. Recently, more technologies have been used that minimize personal communication, and blockchain, which will increase the reliability of transactions, will be used more widely, ”said Lee Jun-Won, an employee of LG CNS IT department.
Study: Zoom is not a leader in user growth rates for video conferencing platforms
Everyone has already heard about the success of Zoom. But, as a study by the analytical company AppAnnie showed, this is not the leader if we are talking about the increase in the number users. For example, in the US, the number of Hangouts Meet users jumped 30 times against the 14-fold increase in Zoom users, and in the UK — 24 times, while Zoom’s user growth in the UK market was 20x.
It is curious that in the countries of continental Europe, Germany and France, the Houseparty platform for online parties shows the highest growth rate: the number of its users in France jumped 30 times, while for Hangouts and Zoom grew 23 and 22 times, respectively.
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