Companies

Back in July 2020, CoinIdol, a world blockchain news outlet, received an email from one of its readers that wished to stay anonymous saying one was scammed by a project called PrepayWay. Later on, another reader, Sempiira Joseph Nyagwa claimed he was also scammed by the project runners.

When cryptocurrency was first rolled out 11 years ago, the world showed distaste for the new mode of payment. Many countries marked it illegal, while most big companies took it as a “joke,” but things soon changed. Some of the world’s biggest brands now have or plan to have their own crypto or at least accept it as a medium of payment.

The ongoing wave of hacks and attacks affects the operation of many companies in the cryptocurrency field. One of the biggest hardware wallet manufacturers Ledger has recently suffered a hack that led to losing about a million emails as well as other customer information.

It seems the optimism and enthusiasm about the adoption of blockchain have been growing as more and more industries explore the potential of this nascent technology.

Global tech giant Microsoft is going to contribute to the development of a Russian corporate blockchain. The company’s representative office in the country signed a memorandum with a blockchain startup to enhance the technology development in the country.

After PayPal’s letter to the EU Commission was revealed, many news outlets started speculating that the company confirmed their plans on cryptocurrency implementation. However, the letter has no details on any cryptocurrency-related activity except for research, which only proves the company’s interest in cryptocurrency.

Choosing cryptocurrency might sound a great idea for both short-term profits and long-term investments, however, there are a lot of scammers in the industry striving to take away one’s money. So one needs to take all precautions before putting in a penny.

While many community members complain that YouTube is demonstrating hostility to cryptocurrency-related projects, scammers using the platform to trick people prove such measures are somewhat reasonable.

The realm of traditional finance is in the vicinity of a transformation. As people seek for more convenient innovative alternatives, global payment giants are forced to explore these technologies to meet their users’ needs.