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Solidus - Invest In The Future

08 Mar 2023

On Wednesday, Reuters reported that Western sanctions on Russia and oil trading between Moscow and India have started to erode the dollar’s decades-old dominance of international oil trade. The oil deals between India and Russia have been settled in other currencies, putting the U.S. dollar’s dominance in the oil trade under pressure.

During the last few months, Bitcoin.com News has reported on several instances in which analysts and economists suggest that Brazil, Russia, India, China, and South Africa, collectively known as BRICS nations, are attempting to undermine the U.S. dollar. On March 8, Reuters columnists Nidhi Verma and Noah Browning reported on how India’s oil deals with Russia have put a “dent” in the U.S. dollar’s dominance in the international oil trade.

Oil traders and banking sources told the reporters that Indian customers are paying for Russian oil entirely in non-U.S.-denominated fiat currencies, including the United Arab Emirates (UAE) dirham. The sources said that over the last three months, the deals have accounted for “several hundred million dollars” in transactions between the two countries. Three sources with direct knowledge of the matter chose to disclose the information anonymously due to the “sensitivity of the issue.”

The report is not the first time accounts and sources have noted that India is reportedly getting oil from Russia at a significant discount. The estimated $60-per-barrel price cap was reported on various occasions last year. It has also been alleged that a great deal of oil is simply finding its way back to European petrol stations after India allegedly sells the crude for a premium.

A former chief economist at the U.S. State Department, Daniel Ahn, told Reuters on Wednesday that the dollar’s “strength is unmatched.” Ahn called the moves by the Russian Federation “transitory gains” that won’t have much effect. “Russia’s short-term efforts to try and sell things in return for currencies other than the dollar are not the real threat to Western sanctions,” Ahn said in a statement.

What impact do you think India and Russia’s oil deals settling in non-US currencies will have on the global oil trade and the U.S. dollar’s dominance in it? Share your thoughts about this subject in the comments section below.

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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.

Oman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework

Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)'s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. Real ... read more.

On Wednesday, Reuters reported that Western sanctions on Russia and oil trading between Moscow and India have started to erode the dollar’s decades-old dominance of international oil trade. The oil deals between India and Russia have been settled in other currencies, putting the U.S. dollar’s dominance in the oil trade under pressure.

During the last few months, Bitcoin.com News has reported on several instances in which analysts and economists suggest that Brazil, Russia, India, China, and South Africa, collectively known as BRICS nations, are attempting to undermine the U.S. dollar. On March 8, Reuters columnists Nidhi Verma and Noah Browning reported on how India’s oil deals with Russia have put a “dent” in the U.S. dollar’s dominance in the international oil trade.

Oil traders and banking sources told the reporters that Indian customers are paying for Russian oil entirely in non-U.S.-denominated fiat currencies, including the United Arab Emirates (UAE) dirham. The sources said that over the last three months, the deals have accounted for “several hundred million dollars” in transactions between the two countries. Three sources with direct knowledge of the matter chose to disclose the information anonymously due to the “sensitivity of the issue.”

The report is not the first time accounts and sources have noted that India is reportedly getting oil from Russia at a significant discount. The estimated $60-per-barrel price cap was reported on various occasions last year. It has also been alleged that a great deal of oil is simply finding its way back to European petrol stations after India allegedly sells the crude for a premium.

A former chief economist at the U.S. State Department, Daniel Ahn, told Reuters on Wednesday that the dollar’s “strength is unmatched.” Ahn called the moves by the Russian Federation “transitory gains” that won’t have much effect. “Russia’s short-term efforts to try and sell things in return for currencies other than the dollar are not the real threat to Western sanctions,” Ahn said in a statement.

What impact do you think India and Russia’s oil deals settling in non-US currencies will have on the global oil trade and the U.S. dollar’s dominance in it? Share your thoughts about this subject in the comments section below.

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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.

Draft Law Regulating Aspects of Crypto Taxation Submitted to Russian Parliament

A bill updating Russia’s tax law to incorporate provisions pertaining to cryptocurrencies has been filed with the State Duma, the lower house of parliament. The legislation is tailored to regulate the taxation of sales and profits in the country’s market ... read more.

Xrp rose higher for a third straight session on Wednesday, as prices moved to a two-week high. The rise comes despite market sentiment remaining largely bearish, with the global market cap trading 1.29% lower as of writing. Shiba inu also climbed higher in today’s session.

XRP, formerly ripple, was once again a notable mover, as prices rose for a third straight session on Wednesday.

XRP/USD raced to an intraday high at $0.3952 earlier today, which comes less than 24 hours after trading at a low of $0.3729.

Following the rally, the token has now risen to its highest point since February 21, as it closes in on a ceiling at $0.40.

Looking at the chart, this comes as the relative strength index (RSI) of 14 days marginally broke out of a ceiling at 57.00.

As of writing, the index is tracking at 57.98, which is its strongest reading since the start of February.

Shiba inu (SHIB) jumped back into the green on Wednesday, as prices reentered a key support point.

Following a low of $0.00001065 on Tuesday, SHIB/USD surged to a peak at $0.00001132 earlier in the day.

The move saw the meme coin move back above a price floor at $0.00001100, following a breakout to start the week.

Overall, it appears that this rise in price comes as the RSI moved away from a recent floor at 36.00.

As of writing, the index is tracking at 39.63, with a ceiling at 42.00 a possible target for bulls.

In order for this rally to turn from something brief into something more sustained, this ceiling will need to be broken.

Register your email here to get weekly price analysis updates sent to your inbox:

Tags in this story
Analysis, Ripple, shib, shiba inu, XRP

Could shiba inu extend gains through the remainder of the week? Let us know your thoughts in the comments.

Eliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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.

Tony Hawk's Latest NFTs to Come With Signed Physical Skateboards

Last December, the renowned professional skateboarder Tony Hawk released his “Last Trick” non-fungible token (NFT) collection via the NFT marketplace Autograph. Next week, Hawk will be auctioning the skateboards he used during his last tricks, and each of the NFTs ... read more.

Xrp rose higher for a third straight session on Wednesday, as prices moved to a two-week high. The rise comes despite market sentiment remaining largely bearish, with the global market cap trading 1.29% lower as of writing. Shiba inu also climbed higher in today’s session.

XRP, formerly ripple, was once again a notable mover, as prices rose for a third straight session on Wednesday.

XRP/USD raced to an intraday high at $0.3952 earlier today, which comes less than 24 hours after trading at a low of $0.3729.

Following the rally, the token has now risen to its highest point since February 21, as it closes in on a ceiling at $0.40.

Looking at the chart, this comes as the relative strength index (RSI) of 14 days marginally broke out of a ceiling at 57.00.

As of writing, the index is tracking at 57.98, which is its strongest reading since the start of February.

Shiba inu (SHIB) jumped back into the green on Wednesday, as prices reentered a key support point.

Following a low of $0.00001065 on Tuesday, SHIB/USD surged to a peak at $0.00001132 earlier in the day.

The move saw the meme coin move back above a price floor at $0.00001100, following a breakout to start the week.

Overall, it appears that this rise in price comes as the RSI moved away from a recent floor at 36.00.

As of writing, the index is tracking at 39.63, with a ceiling at 42.00 a possible target for bulls.

In order for this rally to turn from something brief into something more sustained, this ceiling will need to be broken.

Register your email here to get weekly price analysis updates sent to your inbox:

Tags in this story
Analysis, Ripple, shib, shiba inu, XRP

Could shiba inu extend gains through the remainder of the week? Let us know your thoughts in the comments.

Eliman was previously a director of a London-based brokerage, whilst also an online trading educator. Currently, he commentates on various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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.

Draft Law Regulating Aspects of Crypto Taxation Submitted to Russian Parliament

A bill updating Russia’s tax law to incorporate provisions pertaining to cryptocurrencies has been filed with the State Duma, the lower house of parliament. The legislation is tailored to regulate the taxation of sales and profits in the country’s market ... read more.

PRESS RELEASE. Singapore—March 8, 2023—BYDFi crypto Exchange announced its partnership with Coinify, a credit card payment provider that enables users to buy cryptocurrencies with ease. Coinify is offering a one-week zero transaction fee promotion for BYDFi Exchange users.

This collaboration marks a significant milestone for BYDFi, as it means more users can purchase cryptocurrencies using their credit cards, while also increasing the competitive edge of BYDFi in the global market. Through this partnership, BYDFi can cater to more users’ needs and increase its trading volume and value.

Coinify is a compliant, secure and regulated payment provider that offers users a range of payment options, including credit cards, bank transfers, and more. In addition, Coinify provides an easy-to-use platform for purchasing cryptocurrencies.

The brand manager of BYDFi said, “We are excited to partner with Coinify. Coinify is a reputable payment provider that offers convenient and secure payment options for users. In addition, Coinify is providing a one week zero transaction fee promotion for our users, which is a very attractive offer. We believe this will attract more users to use BYDFi.”

This partnership will further drive the development of BYDFi in the cryptocurrency trading market, providing users with better trading experiences and services. If you are interested in the partnership between BYDFi and Coinify, please visit the BYDFi website for more information.

About Coinify

Coinify ApS is an established global virtual currency platform actively offering solutions in Europe, Asia and other regions. Their mission is to mainstream the use of virtual currencies and thus help businesses and individuals to adopt financial innovation. Moreover, Coinify can be seen as a bridge for merchants that can e.g. accept blockchain payments in 15 currencies and receive payouts in fiat.

About BYDFi

BYDFi is a cryptocurrency trading platform for global investors. It has continued to bring professional, convenient and new trading services to global users since 2020. BYDFi provides users with a trading solution through Spot, Contracts for Differences (CFDs), Inverse perpetual contracts, USDT perpetual contracts, Grid trading, and Copy-trading services.

BYDFi: https://www.bydfi.com

Media Contact: Jeanne Hsieh

Contact: media@bydfi.com

 

 

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not 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 the press release.

Bitcoin.com is the premier source for everything crypto-related. Contact the Media team on ads@bitcoin.com to talk about press releases, sponsored posts, podcasts and other options.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Central Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year

The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.

PRESS RELEASE. Singapore—March 8, 2023—BYDFi crypto Exchange announced its partnership with Coinify, a credit card payment provider that enables users to buy cryptocurrencies with ease. Coinify is offering a one-week zero transaction fee promotion for BYDFi Exchange users.

This collaboration marks a significant milestone for BYDFi, as it means more users can purchase cryptocurrencies using their credit cards, while also increasing the competitive edge of BYDFi in the global market. Through this partnership, BYDFi can cater to more users’ needs and increase its trading volume and value.

Coinify is a compliant, secure and regulated payment provider that offers users a range of payment options, including credit cards, bank transfers, and more. In addition, Coinify provides an easy-to-use platform for purchasing cryptocurrencies.

The brand manager of BYDFi said, “We are excited to partner with Coinify. Coinify is a reputable payment provider that offers convenient and secure payment options for users. In addition, Coinify is providing a one week zero transaction fee promotion for our users, which is a very attractive offer. We believe this will attract more users to use BYDFi.”

This partnership will further drive the development of BYDFi in the cryptocurrency trading market, providing users with better trading experiences and services. If you are interested in the partnership between BYDFi and Coinify, please visit the BYDFi website for more information.

About Coinify

Coinify ApS is an established global virtual currency platform actively offering solutions in Europe, Asia and other regions. Their mission is to mainstream the use of virtual currencies and thus help businesses and individuals to adopt financial innovation. Moreover, Coinify can be seen as a bridge for merchants that can e.g. accept blockchain payments in 15 currencies and receive payouts in fiat.

About BYDFi

BYDFi is a cryptocurrency trading platform for global investors. It has continued to bring professional, convenient and new trading services to global users since 2020. BYDFi provides users with a trading solution through Spot, Contracts for Differences (CFDs), Inverse perpetual contracts, USDT perpetual contracts, Grid trading, and Copy-trading services.

BYDFi: https://www.bydfi.com

Media Contact: Jeanne Hsieh

Contact: media@bydfi.com

 

 

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not 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 the press release.

Bitcoin.com is the premier source for everything crypto-related. Contact the Media team on ads@bitcoin.com to talk about press releases, sponsored posts, podcasts and other options.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Central Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year

The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.

PRESS RELEASE. It is incredible to see the utilisation of AI in every industry in some shape or form, but above all else, companies such as ChatGPT or DALL-E that are able to respond to millions of requests within a matter of seconds provide a clear illustration of the amount of processing and power being utilized in the backend. In order to produce accurate results, these large companies will need sufficient processing power to train their AI models for deep learning. So, they will have to rely on HPC data centres.

Solidus is building an HPC data centre in Europe and has already raised over $6,000,000 in investment from interested companies and high net-worth individuals. The idea is to reduce computing costs and transform the way computing and technology activities are organised when combined with scalable tools in order to support and nudge developers to deliver and monetize their applications easily, quickly, and securely. In addition, large institutions will also be able to benefit from this, as they will have a discount on computing power delivered through the Infrastructure-as-a-Service (IaaS) platform when using the AITECH tokens to purchase services.

Investing in Solidus Ai Tech is not just a smart move; it’s a forward-thinking decision that will help you stay ahead of the curve in the rapidly evolving world of technology.

Why Investing in Solidus Ai Tech’s Token is a Smart Move

Solidus Ai Tech, a high performance data centre located in Europe, is launching its own token, and you may be wondering whether it is worth investing in. In this blog post, we will explore why investing in Solidus Ai Tech’s token is a smart move.

1. A Proven Track Record

Solidus Ai Tech has a proven track record in the data centre industry where their parent company Solidus Technologies set up an Ethereum mining farm in 2018. The company has established itself as a reliable and innovative player in the market. Solidus Ai Tech has a state-of-the-art data centre that will offer high performance computing, cloud services, and colocation.

2. A Growing Industry

The data centre industry is growing at a rapid pace, and it shows no signs of slowing down. The demand for high performance computing and cloud services is increasing, and Solidus Ai Tech is well-positioned to take advantage of this growth. Investing in Solidus Ai Tech’s token means investing in a growing industry with a promising future.

3. Innovative Technology

Solidus Ai Tech is at the forefront of innovative technology in the data centre industry. The company has invested heavily in research and development, and it has developed cutting-edge technology that sets it apart from its competitors. The company’s technology allows for high performance computing, faster data processing, and greater energy efficiency.

4. Tokenomics

Solidus Ai Tech’s token (AITECH) is designed to provide investors with a range of benefits. The token will be used to access Solidus Ai Tech’s services. There is strong demand for Ai services which is proven by ChatGPT which broke a new record by accelerating to over 1,000,000 users in just 5 days (now over 100,000,000 users). Additionally, the AITECH token is deflationary where supply will be reduced by 50% over time which should help long term growth. This means that investing in AITECH is not just a speculative investment, but a way to participate in the company’s long term success.

5. Strong Team

Solidus Ai Tech has a strong team of professionals with a wealth of experience in the data centre industry. The team is led by experienced and knowledgeable executives who have a proven track record of success. This gives investors confidence that the company is well-positioned to succeed.

Roadmap to Success – 2023

The video gives a quick rundown of what the company has planned for the year ahead. It’s like a roadmap, but in video format – short, snappy, and easy to understand.

Conclusion

Investing in Solidus Ai Tech’s token is a smart move for several reasons. Solidus have a proven track record, is part of a growing industry, has innovative technology, offer attractive tokenomics, and has a strong team. By investing in Solidus Ai Tech’s token, investors can participate in the company’s success and benefit from the growth of the industry.

Interested in Investing early?

Visit the official website and create an account to invest: https://www.ai-tech.io

Also check out the CertiK’s Gold Verification & Trust score: https://www.certik.com/projects/solidus-ai-tech

Social media links

Facebook: www.facebook.com/aitechio

Instagram: www.instagram.com/aitechio

Linkedin: www.linkedin.com/aitechio

Telegram: www.telegram.com/aitechio

 

 

 

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not 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 the press release.

Bitcoin.com is the premier source for everything crypto-related. Contact the Media team on ads@bitcoin.com to talk about press releases, sponsored posts, podcasts and other options.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Bitcoin ATM Operator Indicted in New York Allegedly Running Illegal Business Attracting Criminals

A bitcoin ATM operator has been indicted in New York for running an illegal business "marketed towards individuals engaged in criminal activity." The district attorney in charge described: "Robert Taylor allegedly went to great lengths to keep his bitcoin kiosk ... read more.

Source From : News

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