Bitcoin as the leading cryptocurrency has worked its way into the fabric of quite a few industries over the past few years. Along with other cryptos, more and more businesses are looking for ways to use this unique phenomenon to grow market share while adding more profit to the bottom line.
As part of a recent digital currency recap on Market Watch this week, it was reported that UNICEF Australia is offering supporters the chance to ‘jump on the digital currency train’ by donating their computer power to mine cryptocurrencies. The main thrust behind this innovative fund-raising program is The Home Page. Above all, this is where supporters can log in and keep their browser open. Also, this allows the charity for underprivileged children to mine Monero (XMRUSD).
Jennifer Tierney is the UNICEF Australia director of fundraising and communications. Through a statement to CMO.com.au in a quote in this Market Watch report, she stated, “We wanted to leverage new emerging technologies to raise awareness about current humanitarian crises and raise funds to support children caught up in them.”
The advertising for this endeavor goes on to say, “Give hope, just by being there” as its tagline. The disclaimer below states that this website (The Home Page) uses some of your computer’s processing power to generate funds for UNICEF Australia automatically. This initiative has already had over 5000 people offer their help.
In other news in this Market Watch report from May 1, Bitcoin continues to slide in value. A single bitcoin (BTCUSD) was last exchanged at $8,953.57 which reflects a decline of 3.6 percent since the beginning of the week. The report surmises that the cryptocurrency’s inability to sustain the value of $10,000 or above suggests that a minor correction is taking place. Also, This also indicates the possibility of further declines in the coming days. Altcoins (digital coins other than Bitcoin) are also trending down.
Craig Erlam is a senior market analyst at OANDA, and he was quoted as saying in this report that, “We have seen an inability to surpass recent peaks. While things are generally positive, my inclination is there’s more chance of a reversal than a surge to the topside.”
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Finally, Market Watch added that the Hong Kong Financial Services and Treasury (FSTB) released a report this week concerning cryptocurrencies and their relation to organized crime. The consensus was that there was minimal impact from digital currencies being used to finance illegal activities.
It has been widely speculated by more than a few government officials around the globe that there are ties between organized crime and the use of cryptos to conduct these illegal activities. However, the FSTB has gone on record as saying, “There does not seem to be any visible impact affecting the overall risk in Hong Kong so far. The risk of VC’s is assessed to be medium-low. The FSTB report went on to add, “While we have not found substantial risks in these newly developing payment methods or commodities, this is a rapidly developing area requiring continued monitoring.”
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