This week’s headlines from Japan included GMO Coin exchange polling customers on their view of digital assets, Lisk opening a base in Japan, Bitflyer showing 2019 net losses, blockchain startup LayerX securing significant funding, and two entities reported successful collaborative blockchain-based securities experiments.
Check out some of this week’s crypto and blockchain headlines, originally reported by Cointelegraph Japan.
Out of 1,578 polled exchange users, 47% put Bitcoin as their top choice. XRP and Ethereum came in second and third respectively. Similar polling from 2019 found XRP as the asset of choice regarding future expectations. Roughly 70% of customers also listed hodling for the long term as their objective in crypto.
Crypto asset project Lisk (LSK) has chosen to start up a base in Japan. Lisk-related pursuits will take place at the Lisk Center Tokyo, built by the Lisk Foundation. Lisk looks to fortify its Japanese community.
Blockchain marketing outfit Binary Star also joined forces with the Lisk Foundation last month.
Financial totals from 2019 show Tokyo-based crypto exchange Bitflyer ended the year in the red. January to December 2019 posted net losses of approximately $6,967,574, in USD terms.
In contrast, 2018 yielded a profit of $49,552,350.
On Thursday, blockchain company LayerX unveiled its capital raise totals, touting $27,833,187 in garnered funds. Focused on bringing physical processes into the digital world, LayerX has secured the backing of VC firms JAFCO and ANRI, as well as YJ Capital, a Yahoo VC entity.
“Corona has exposed various issues in Japan,” JAFCO director Keisuke Miyoshi said. “It is further accelerating the big trend called DX,” Miyoshi noted, referring to the digitization of business processes. Blockchain “is not a technology keyword, but a phase of actual demand for infrastructure reconstruction,” he added.
Computer company Fujitsu, and Nomura Group’s blockchain entity BOOSTRY, noted collaborative testing success of digital securities transactions.
The group has begun research to create a platform for blockchain-based digital securities trading, factoring in aspects such as membership entitlements, a Fujitsu statement said.
China has passed the country’s long-awaited civil code which expands the scope of inheritance rights to include cryptocurrency, such as bitcoin. Inherited cryptocurrencies will be protected under the new law. Meanwhile, several Chinese courts have recently ruled that bitcoin and ethereum are properties protected by law.
The third session of the 13th National People’s Congress (NPC), China’s top legislature, voted on and passed the “Civil Code of the People’s Republic of China” on Thursday. In addition to general and supplementary provisions, the civil code ”includes six parts on real rights, contracts, personality rights, marriage and family, inheritance, and tort liabilities,” Xinhua News Agency reported.
Noting that the decision to draft a civil code was announced in October 2014 and the legislative process started in June 2016, the news outlet detailed:
[The new civil code] states that the property rights of individuals are equally safeguarded to those of the State and collective, and online virtual assets are protected, too.
Wang Chen, vice chairman of the Standing Committee of the National People’s Congress, told the session that “The compilation of the civil code is an important component of the plans of the Communist Party of China (CPC) Central Committee with Comrade Xi Jinping at the core for developing the rule of law,” the publication conveyed. This new civil code will enter into force on Jan. 1, 2021.
The scope of inheritance has been expanded from the existing law. Under the new civil code, “virtual assets, such as bitcoins, [can] be inherited,” as are all property legally acquired by a natural person, the news outlet emphasized.
Wang Liming, executive vice president of the Renmin University of China and a law professor, was quoted as saying: “The civil code is the first law to carry the title ‘code’ for the People’s Republic of China. It lays down the fundamental principles and regulations regarding civil activities and relations. It reflects the will of the people and protects their rights and interests.”
Several Chinese courts have also ruled that cryptocurrencies are property that should be protected by law. For example, the Shanghai No.1 Intermediate People’s Court ruled that bitcoin is an asset protected by law while the Shenzhen Futian District People’s Court ruled that ethereum is legal property with economic value.
Meanwhile, China is working on issuing its own central bank digital currency but there is currently no timetable for the launch, Yi Gang, governor of the People’s Bank of China (PBOC), told reporters this week. Internal pilot tests have been conducted in various cities “to check the theoretical reliability, system stability, conveniency, applicability and risk controllability of the digital currency,” the governor confirmed.
What do you think about China’s new civil code protecting inherited cryptocurrency? Let us know in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons, China Daily, the Chinese government
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
According to the Alabama Department of Labor, over 9,000 job ads went online in April with registered nurses and retail workers being in high demand.
The report pulled information from online job postings in Alabama, including the state of Alabama’s online jobs database, social media sites, corporate job boards and other sites.
UAB, AutoZone and Ascension Health were the top three employers with job listings. Other employers with many listings include Dollar General, Lowe’s, Hibbett Sports and the University of South Alabama.
Of all jobs posted, 57% had salaries of $35,000 or more, and 16% of all job listings offered a salary at or above $75,000
Goldman Sachs just made new enemies in the world of cryptocurrency.
On Wednesday, the bank released a report that outlined five reasons that crypto is not an asset class or a suitable investment, drawing the ire of those that support the digital currency.
“We believe that a security whose appreciation is primarily dependent on whether someone else is willing to pay a higher price for it is not a suitable investment for our clients,” said Goldman.
The bank also called out cryptocurrency’s popularity with hedge funds, saying “while hedge funds may find trading cryptocurrencies appealing because of their high volatility, that allure does not constitute a viable investment rationale.”
It didn’t sit well with supporters of cryptocurrency. The Winklevoss twins, who co-founded Gemini, a cryptocurrency exchange platform, responded with vocal backlash to the report.
“Hey Goldman Sachs, 2014 just called and asked for their talking points back,” Cameron Winklevoss said in a tweet.
His brother, Tyler Winklevoss, also joined in the fray, tweeting, “the more I think about it, the Goldman report is probably a head fake.”
In addition, Goldman compared crypto’s popularity and epic 2017 rally to Dutch tulip mania, which occurred in the 17th century and is one of the most famous examples of a speculative bubble.
“Goldman Sachs served a cold dish to the crypto community, which was largely expecting them to come out with a bullish call on the world’s number one digital asset,” Mati Greenspan, founder of Quantum Economics, wrote in a note, Bloomberg reported.
He continued: “Perhaps Goldman is just trying to jawbone Bitcoin to buy more for themselves at a cheaper price. Who knows?”
Everyone knows that the economy is a psychological creature. The degree of hope and confidence participants maintain can pull us back from the edge or throw us over.
A few months ago, I wrote an article on the importance of resolve among business owners. The importance of staying focused on the future, being nimble, using the help available (specifically in terms of funding). It is essential to move forward with faith and pragmatism.
In some social media circles, particularly my network on LinkedIn, there have been many stories about the hard work and grit business owners and their teams are showing in uncertain times.
It will get worse before it gets better
Fast forward two months and the Debbie Downers have come out in full force.
If you read the mainstream news right now, you can be assured that the worst is ahead of us. I’m not talking about the hard work of rebuilding. We always know that follows, and we usually take pride in availing ourselves of it.
The news wants you to know that the other shoe is about to fall, and there are apparently hundreds of shoes right behind it.
Never mind that the PPP has been distributed, and many business owners have begun putting one foot in front of the other. Never mind that the news reports of Covid-19 are being restated downward or appear to be flattening. Never mind that the jobless reports, while terrible, are not increasing at the rate they were. Never mind that people are emerging from their homes and returning to offices, parks and in some states, even beaches!
No, never mind all that. We have a crisis to stoke division around. It is, after all, an election year.
After all the fascination around PPP—the importance of it to many businesses, the mechanics of it, the how-to videos, and webinars—the clicks which represent revenue have slowed down. Over 101 million references come up for “PPP Program” when searching on Google. It’s time for a new story of the PPP now.
Who thought the PPP was a good idea?
For those who have worked in corporate America, you have likely served on a steering committee or working group. There you identified significant challenges, and the group worked on them with an eye to both immediate wins and longer-term solutions.
The PPP is a similar product of a cross-functional public/private working group moving extremely quickly to address a mammoth challenge. When responding at warp speed, mistakes are usually made, but most agree that doing something and trying to help some people is better than doing nothing at all.
Now that the novelty and the mechanics of the PPP are old news, several new narratives are emerging:
In typical form, the news narrative is dark, demotivating, and divisive.
There are undoubtedly threads of truth in these stories and ideas. However, this is an election year. That means editorial boards and opinion writers tuck themselves in between journalists covering the news to create “the larger truer truths” they want you to believe.
One of the reasons people have begun doing their own research and finding their own news is that the “packaged truth” is so obviously disingenuous.
Some news people have gone from telling us we wouldn’t survive a Spanish Flu-like 1918 mass casualty scenario to pointing fingers at recipients of the PPP.
If you receive the daily headline emails from a local or regional newspaper—and you’re a small business owner—you may be afraid or even ashamed right now. My favorite stories (I’m being facetious) are the ones that talk about the early evidence of fraud, the cropping up of a cottage industry of auditors to hobble us, and the faith that has potentially been misplaced in small business owners.
I always hated the “Small Business” term because the word “small” has many connotations. I am of diminutive size and have always had a chip on my shoulder about being called small. I wish the editors of our great publishing companies across America would stop trying to make us feel even smaller as we work to keep and grow jobs.
We get it. You don’t think we’re going to be honest about our use of our PPP funds. You think we’re too dumb to know how to do our PPP worksheets. Do you think we’re stupid enough to keep subscribing to your newspapers to tell us that?
You guys need to keep up. Figuring out the PPP worksheet was so last week. We’ve moved on to where to buy social distancing stickers, masks, hand sanitizer stations, and plexiglass screens to transform our workplaces for reopening.
Maybe you guys can be useful and write a story on good American-made sources of these products so we can get back to business sooner. Yes, we know that the inclusion of these purchases isn’t yet allowable by the SBA in the PPP forgiveness program, although they are looking at it. Regardless, we want to be safe and get back to business as soon as we can.
Francis Bacon said, “The way of fortune is like the Milkyway in the sky; which is a number of small stars, not seen asunder, but giving light together: so it is a number of little and scarce discerned virtues, or rather faculties and customs, that make men fortunate.”
Small business is ready to create our fortune again and do our part to turn our economy back on. Let’s gather our little and scarce virtues, faculties, and customs and DO THIS. Stop reading the headlines and start reopening.
Of the 20.5 million Americans who lost their jobs in April, roughly 4 in 5 consider their layoff temporary and believe they’ll be called back to work within six months.
While some furloughed workers are getting those calls as businesses reopen across the country, others who have yet to hear any news may be wondering how long their furlough period will last.
If you become furloughed, you remain an employee with the company but take an unpaid leave of absence. You may continue to receive some employer-sponsored benefits, such as health insurance, for a set period of time, and you’re eligible to receive unemployment benefits.
CNBC Make It spoke with workplace experts about why you might want to consider looking for a new job while on furlough during the pandemic, and what kinds of legal considerations to keep in mind.
Workers who may need to earn more than what they’re receiving through unemployment benefits, are concerned about losing their health-care coverage during a global pandemic or think they may not have a job to return to may consider looking for another job while on furlough.
After all, to minimize financial stress, the best time to find a new job is when you already have one.
“A furlough is not a binding contract that the employer who you worked for will rehire you. It’s an expression of intent to rehire you at some point with no timeline,” says Ian Siegel, co-founder and CEO of ZipRecruiter, the online jobs marketplace. “You get the benefit of continued health insurance at many companies, and maybe some other rare small perks. However, it behooves you to examine every opportunity available to in the market when you’re furloughed.”
Additionally, depending on where you live, your state may require that you prove you’re actively searching for work when you certify your weekly unemployment benefits, says Michele Evermore, senior policy analyst with the National Employment Law Project. Some states, such as New York and California, have waived that requirement during the pandemic.
In most cases, you’ll be free to look for any kind of new job while you’re on furlough, whether it’s part-time, full-time, on payroll or on contract. However, your employer could have restrictions on the type of new work you look for, says David Barron, a labor and employment attorney with Cozen O’Connor.
For example, your employer may restrict you from searching for work with a direct competitor. Rules may be more strict if your employer is still paying for your health insurance and other company-provided benefits, he adds.
That said, “if you don’t have the ability to work for that person, most employers understand that you may have to go find work,” Barron says. In any case, it’s best to contact your HR department if you plan to find another job to make sure you’re not violating any terms of your furlough.
If you take another job while on furlough, you’ll have to report your weekly earnings when you certify your unemployment benefits. Failure to do so is classified as unemployment insurance fraud. Consequences vary by state and can include having to pay back benefits plus interest, penalty fees, ineligibility for future benefits and criminal prosecution.
Many states allow you to earn up to a certain percentage of your benefit amount through other work, such as a part-time job, before your payment is reduced. The number of hours or days you work could lower your benefit amount, or it could make you ineligible entirely.
Workers currently earning partial unemployment are also eligible to receive the weekly $600 federal benefit laid out in the coronavirus relief bill.
It’s possible you can earn money from a new part-time job and still collect partial unemployment from your furloughed job, plus the $600 federal boost, to bring in more each week than you did with your previous job.
Yes, being on furlough doesn’t limit your ability to quit the job altogether in order to take a new permanent job elsewhere. Of course, voluntarily quitting your former job will make you ineligible to receive unemployment benefits for that role.
And remember to consider what will happen to your health-care coverage when you move employers, especially given the current health crisis, Barron adds. Some companies cover new-employee benefits from day one, while others do so after a set waiting period of up to 90 days. If the latter is an issue, you may look into short-term coverage through COBRA, the marketplace or another alternative.
Working through college is a good way to offset the high costs of the school. But it can be tough to find a decent-paying job you can balance with classes and extracurriculars.
Instead, look into legitimate ways to make money online for a more flexible source of income. For a regular paycheck and work-at-home schedule, check out these 10 online jobs for college students.
Pay: varies, approximately $10-$20 per slide
Did you master PowerPoint for a project last semester? Turn that skill into a moneymaker!. When businesses or keynote speakers don’t have time to create presentations for their events, do it for them.
How to Get Started
Put your skills and connections in your industry to use by connecting employees or freelancers with the right jobs.
As a virtual recruiter, you’ll work as a liaison between a company and potential new hires. You’ll do things like post available jobs, screen resumes, conduct preliminary interviews and negotiate salaries.
Work can pay around $50,000 per year for full-time employees, $20-$30 per hour for contractors or employees, or on a commission rate, you set as a freelancer.
How to Get Started
This is freelance work, so you can start by perusing virtual recruiter job listings on LinkedIn or these freelance sites:
Pay: $5-$50 per gig
Could you really cut into your debt, or even make a living, $5 at a time? If you get creative, you might be able to do just that with Fiverr.
Turn your weird ideas and unique skills into gigs on Fiverr. One woman used Fiverr to market her resume-writing skills and has since earned more than $2 million!
If you don’t want to wait for takers, look for a requested service, and pick up a few bucks from someone who needs help with a quick, simple task.
Copycat sites offer similar opportunities.
TaskRabbit also connects you with real-life and virtual odd jobs that can bring in extra cash or even become a full-time job.
How to Get Started
Read our overview of what you could sell on Fiverr to get an idea of the hidden gems and talents you might possess! But make sure you’re valuing your time; if you’re only earning $4 an hour, it might not be your best bet.
Pay: varies; $50+ per article
This is how I made my living for four years while I travelled and moved around the U.S. It can be lucrative, flexible work.
You can make your own schedule, pick your own gigs and set your own rates. The best part is you get paid to write about almost anything!
Making money researching and writing about your existing hobbies and passions beats a barista gig at the campus coffee shop, right?
You can also try freelance proofreading. These gigs are good ways to keep your foot in the door of the writing world when you don’t have the time or energy to dedicate to composition.
Try Proofread Anywhere. It offers a free introductory workshop so you can see if it’s the right way to go. If you follow through, it teaches you how to start your own business, so you can craft a schedule that fits your semester workload.
Choose a topic that offers clear value to readers. By focusing your efforts on becoming an authority, you can make money blogging.
If you create a go-to source of information in your niche, you can earn money through relevant advertising, affiliate marketing and sponsored posts.
With good planning and time management, you can write for and promote your blog in your spare time, and earn passive income all day when readers visit your site.
How to Get Started
Your first step is to create a website. You have a number of hosting options, one of the most popular being Bluehost. You’ll have to pay a little — just $2.95 a month — but it’s integral.
Earn up to $15 an hour cleaning up search engines, like Google, Yahoo! and Bing. Despite constant updates to their algorithms, search engines are still riddled with errors. They rely on real humans to look at search results and offer feedback on quality, accuracy and usefulness. That’s where you come in.
How to Get Started
Find search engine evaluator jobs through these sites:
Know someone about to graduate or looking for a new job? Offer to help polish their resume to make it job-search-ready.
How to Get Started
Find online resume writing jobs through these sites:
Note that you’ll face a lot of competition and submit many unanswered applications.
Instead, try reaching into your existing network for potential clients, like friends looking for summer jobs and internships.
These aren’t the best-paying online jobs, but they also don’t require a ton of skills or experience. Typically, all you need is a computer and an internet connection.
Find online data entry jobs through these sites:
Pay: $13-$20/hour or more
Take your academic strengths and knowledge online to start your own tutoring business. Offer peer tutoring for fellow college students or connect with K-12 students in home-school programs.
And it’s not just academic: Focus on your extracurricular talents, and offer to tutor or consulting in things like music, art, social media, fashion or nutrition, too.
How to Get Started
Market your tutoring services online at sites Or apply through one of these online tutoring companies. Or, do all the work upfront and create an online course to sell through Skillshare, Udemy or your own site.
Starting Pay: $15-$40/hour
Managing a company’s social media accounts can be a fun way to make money on a flexible schedule. It’s also a cool way to connect with the businesses you love.
A social media manager serves as the voice and face of a business on a number of engagement platforms. You’ll promote deals and content and interact with followers.
How to Get Started
You could post your resume on random job boards, but it’s better to contact local companies directly. Better yet, connect with a business you already patronize.
Focus on social platforms you love and know inside out to boost your pay. If you’re a Twitter fiend, talk up your experience. If you spend all your free time on Pinterest, put your pinning skills to use.
Then, get creative: Outline a plan to connect with customers via Snapchat or Instagram. Smaller companies might not have thought about exploring these platforms, making you an integral part of the team.
The main event of the day was China and Trump’s planned announcement to retaliate for the Hong Kong security law. That kept markets on edge and erased an early positive tone in risk assets.
As he began to speak and launched some tough talk, risk trades sagged but when it came time to deliver the US reaction, it was meek. All the announcements related to things that were leaked or rumored previously and stocks quickly rebounded along with commodity FX.
Earlier in the day it was all about flows. It was the final trading day of the month and there was a big bid in EUR/GBP and GBP/USD. The fixing demand arrived but sellers met it and both pairs sagged. Cable fell a full cent from the highs and as in negative territory on the day before a late bounce to a 16 pip daily gain.
The euro will close the week close to 1.1100 and that’s comfortably above the key 1.1020 zone but off the 1.1145 session high.
When you check the broader rundown in the market there wasn’t much to report in terms of daily moves in FX with most pairs finishing about 20 pips from starting levels. AUD had a bit more jam but the highs came early in Europe.
The gold and oil markets were more-lively as both were bid into month-end. Oil was quiet until the final hour of trading when a big bid came through ahead of the monthly fix. Gold rebounded for the second day then briefly dipped after Trump but was picked up again late.
Take heart, job seekers: The current health crisis might be temporarily taking many of our leisure time options away, but it’s opening a lot of new doors for those who are willing and able to work from home—not just because they have to, but because they want to.
Take a browse through newer platforms like Fiverr and it’s obvious that there’s a market for nearly any skill. The hardest part is actually getting in there and building a body of work. How much do you charge? Who should you reach out to? These are all tough questions, and they’re best answered by experts. The good news is, anybody can have access to that advice in the Kickstart Your Freelance Career Course Bundle, which is now just $30.
This roundup of online classes is a tutorial in how to launch a new work-from-home career, using nearly any skill set. It includes proven insights on some of the latest online marketplaces, plus time-honored techniques for keeping things professional—even in your pajamas.
Here’s a breakdown of what you’ll learn:
Freelance Kickstart: Start a Successful Business You Love: This intro course will let you assess what you need out of your new gigs: a steady primary income or a supplement to your 9-to-5. Either way, you’ll learn how to develop a portfolio, build your own website, and plan for tax time.
Sales & Marketing for Freelancers: This course is about your relationship with those all-important clients. You’ll get tips on how to find them, how to keep them, and even how to turn them into references.
Kickstart a Freelance Editor & Proofreader Career on Upwork: A great work ethic and an affinity for grammar is key on Upwork, where you can bid on copy-editing jobs and grow a great reputation quickly. But it’s equally important to know how to bid on those jobs in the first place.
Fiverr: Start a Profitable Fiverr Freelance Business Today: Fiverr has really opened up the floodgates for a whole new breed of freelancer. No matter what you’re an expert in, there’s a buyer out there somewhere. Learn how to find them here.
Freelance Success for Artists: A Quick & Easy Guide: Here’s the course that will teach you how to balance your creative side with your practical needs and turn that combo into a stable career as a for-hire designer, artist, or videographer.
The Complete Freelance Writing Course: From copywriting to ghostwriting, there’s a job out there for anyone who can write. This targeted class helps you find your niche and handle feedback from clients in a quick and constructive way.
Freelance Wealth Kit: Get Started Freelancing: This course tells you how to take an entrepreneurial approach to your new gigs, marketing your work as you go and building a personal brand as you help other businesses along.
How to Win Jobs Freelancing on Upwork: A more general look at the popular freelancer platform and how to to build an eye-catching profile on it.
That’s more than 13 hours of instruction, and it’s now available for $29.99—more than 95 percent off the MSRP.