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The first day of Christmas
Coinbase sent me:
Cryptos turned into Uber e-gift cards
The second day of Christmas
Coinbase sent me:
He donated ZCash for Venezuela
and Cryptos turned into Uber e-gift cards…
Ok, we at Coinspeaker are quite aware that this is not the way the song goes, but it's true. The popular exchange of cryptocurrencies Coinbase has launched a new 12-day event similar to the famous Christmas song of "The 12 Days of Christmas".
The Christmas carol has long been known as a song about gifts to loved ones over a period of 12 days. In the classical song, the value and the importance of each gift increases with the passing of the days with the first day of Christmas.
Unlike the popular song, the Coinbase team chose to start their 12-day gift on December 10th. The 12-day event ends on December 21st, four days before Christmas.
So, in order to create tomorrow's open financial system, Coinbase decided it should be good not only to allow people to buy crypto, but also to use it.
"Our recent change in strategy is really driven by customers, and when we asked customers what they want, they told us that they are adding new cryptocurrencies to the platform."
– Coinbase (@coinbase) 11 December 2018
Day 1 saw Coinbase announcing that users could buy gift certificates so that friends and relatives could get Uber, Adidas and Nike surprises through their U-gift program.
GiveCrypto.org (founded by CEO Brian Armstrong) takes some of the best parts of this system: cross-border accessibility, ease of small payments and real-time transfers, all to empower those who do not have enough economy inheritance. That's why they decided to use 12 Days of Coinbase as an opportunity. First, I made a $ 10,000 donation to Zcash ($ ZEC) to support their pioneering work.
The CTO of Coinbase claimed to be aware of having a global economy and, as such, a need for a global digital currency.
"Technology makes us richer and richer because it takes less time, less money and less effort to do something."
Coinbase presents: how the cryptocurrency creates economic freedom
In their new video, for the "third day of Christmas", Coinbase tried to explain their mission and their vision on how cryptocurrencies can change the global economy and why it is so important.
Brian Armstrong, CEO of Coinbase, said:
"Cryptocurrency will be a great democratic force for the world because it will allow anyone with a cell phone to access financial services, there are about 1.8 billion people in the world who have mobile phones, but no access to any of the financial services. the advantages of cryptocurrency and blockchain There are no intermediaries during the money transfer. "
Julia Rose West, a client of Coinbase and a futurist explains that this will transform the way we think about the true global economy.
"I think we have to define what the currency means first, and what it evaluates is that it allows us to agree on how much is worth."
Why give crypto instead of money? Coinbase says it is aware that many families do not have reliable access to bank accounts, and even if they do, the Bolivar (the fiat currency of Venezuela) is highly inflated and volatile. As a result, cash gifts can be of little value to many who need them. However, the Crypto and GiveCrypto.org provider network provides a direct and stable line of support.
In Coinbase they say:
"We are proud to support the GiveCrypto.org approach, which is supported by an increasing number of evidence that direct cash transfers are an effective way to help those in need, but we also know that this gift is only the beginning GiveCrypto.org and peer organizations will need more support from us and the community as they create crossings where the crypt can help. "
Decentralization seems to be a problem for some companies a day today. The latest example was Ripple, whose chief executive, Brad Garlinghouse, had to respond harshly to opponents who criticized the XRP register for centralization.
Garlinghouse was suddenly clear on his position saying that the XRP is "completely decentralized". He continued to accuse some opponents of fighting "holy wars" and "spreading misinformation" because they have an economic interest in doing so.
In Coinbase, they believe that decentralization is important because "if we all have the same currency, we will take care of it, we will have a positive result, as well as the global economy".
Just a few days ago, Coinbase revealed that they are working to explore support for the second largest cryptocurrency. They confirmed that they are continuing to explore the addition of new resources. This work also includes close collaboration with regulators and banks in order to make these new cryptocurrencies available to Coinbase customers in as many jurisdictions as possible.
The company has also published a list of 31 potential new additions including, among others, the aforementioned XRP, EOS, Cardano (ADA), NEO and Tezos (XTZ).
They also invite all those who can or want to join them in this holiday season, in donating to organizations that make possible open financial transactions for people everywhere: just press here or here.
All I want for Christmas is ZCash?
The second day of donations is dedicated to the Venezuelan crisis. The donation will also come to support the GiveCrypto.org project in the Venezuelan border town of Santa Elena de Uairen. With this gift, the organization will put $ 1 USD of crypt directly into the encrypted portfolios of over 100 families in Santa Elena every day for 3 months.
With this, recipients will be able to buy food and basic necessities in a local store that accepts encrypted payments, subsidizing daily expenses. For example, the equivalent of $ 1 a day can buy 1-2 kilos of protein or 2 kilos of starches and vegetables. The recipients will come from the networks of Venezuelan families already in the program of GiveCrypto.org with Bonnum.
With virtual currency virtually non-existent, Petro, which does absolutely nothing to lift the economy, and inflation grows at alarming rates, eclipsing Germany in World War II, citizens are fleeing to neighboring countries South Americans to take refuge. Venezuela is not in good shape, despite Bitcoin donations pouring in to ease the pressure on some families. The local currency of Bolivar is now almost useless.
Zcash is the latest token to be added to Coinbase Pro, the company's trading platform for professional investors. Coinbase said it is now examining the addition of several new tokens to its list of offers, after several wishes from current customers for additional resources.
The exchange has recently announced that its new strategy is driven by customers. They noted that the only thing their customers want is the new cryptocurrencies on the platform. This in turn leaves the door wide open for exchange to list the most popular cryptocurrencies like XRP, Stellar (XLM) and Cardano (ADA) as part of their 12-day event.
However, every story has two sides. Addressing Armstrong, software developer Udi Wertheimer criticized what he saw as an expression of avarice. he tweeted:
"The" Venezuelan meme "has been abused for years by" cryptographic scammers "for years, but I'm shocked to see Brian do the same.
Give Zcash a $ 1 value to Venezuelan families? (Get the f * ck out). Give them cash dollars, piece of shit. unbelievable[.]"
Coinbase's advertising problems had continued since last week. By publishing an article about the exchange plans to introduce 30 new altcoins into his books, TechCrunch – perhaps inadvertently – provided him with a URL that describes Coinbase as "dabbling with shitcoins".
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