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The Israeli military says that since the start of the war, Iran has launched more than 400 ballistic missiles at Israel, 92% of which have been intercepted.On March 22, local time, Israeli Prime Minister Benjamin Netanyahu stated in the southern city of Arad that Israel is responding to Iranian attacks, but not targeting civilians. Netanyahu indicated that Israels targets are the current Iranian regime and the Islamic Revolutionary Guard Corps (IRGC), and the Israeli military will directly strike the IRGCs leaders, as well as their infrastructure and economic assets.On March 22, He Lifeng, member of the Political Bureau of the CPC Central Committee and Vice Premier of the State Council, met with a delegation from the US-China Business Council in Beijing. He Lifeng stated that the China-US relationship is the most important bilateral relationship in the world today. He expressed hope that the US-China Business Council would continue to play its role as a bridge, promoting friendly exchanges and the steady and healthy development of China-US economic and trade relations. He also hoped that American companies would fully seize the opportunities presented by Chinas development, make good use of the potential of the Chinese market, and inject more stability and positive energy into China-US economic and trade relations.On March 22, Australian Climate Change and Energy Minister Chris Bowen announced that six fuel ships scheduled to arrive in Australia next month have had their voyages cancelled or postponed due to the Middle East conflict. In an interview with the Australian Broadcasting Corporation (ABC), Bowen stated that the six ships, originating from Malaysia, Singapore, and South Korea, were originally scheduled to arrive next month. He said that against the backdrop of the Middle East conflict, Australias fuel supply will experience "some fluctuations," and the government will "work with refiners and importers to mitigate the impact as much as possible." Bowen also stated that Australias current fuel reserves are slightly higher than pre-crisis levels, with gasoline reserves estimated at approximately 38 days and diesel and jet fuel reserves at approximately 30 days. Bowen ruled out the possibility of implementing fuel rationing measures in the short term.Israeli Prime Minister Netanyahu: Its time to get other world leaders into our war.

Bitcoin Lightning Network-Based Strike Can Rival Visa – MS

Cory Russell

Apr 25, 2022 09:49

Morgan Stanley is optimistic about the bitcoin Lightning Network's potential as a consumer payment option.


They believe Strike, a Lightning Network-based payment technology, can compete with or even outperform Visa in the digital payments market.


Strike has partnered with Shopify and NCR, the world's leading supplier of point-of-sale payment solutions.


Morgan Stanley published a new analysis on the Lightning Network, bitcoin's Layer 2 fast payment system, and its potential to enable a "long-term move towards payments and settlements utilizing digital and cryptocurrencies rather than fiat currencies like the US dollar."


Morgan Stanley's positive analysis on the Lightning Network's potential for broader adoption comes after Strike, a US-based digital payments platform built on top of bitcoin's Lightning Network, announced earlier this month a new integration agreement with e-commerce giant Shopify.


Customers who paid in bitcoin will now be able to receive payments in US dollars from US Shopify businesses. Strike has announced collaborations with NCR, the world's leading supplier of point-of-sale (PoS) payment services.

Morgan Stanley Believes That Lightning Network Will Be Able to Compete With Visa

Morgan Stanley outlined why it believes Strike, a Lightning Network-based digital payment network, can compete with or perhaps exceed Visa in its recent study.


Morgan Stanley observes that "in essence, Strike is directly competing with Visa Direct, which provides real-time settlement," adding that "the primary distinction for merchants will be paid a significantly lower transaction cost."


"The customer advantage is that they may, if they choose, host their bitcoin on a private, secure network, enabling an element of secrecy connected with their transaction," the bank says.


Morgan Stanley emphasizes the importance of Strike's cooperation with NCR. "NCR software is used by one in every six PoS devices worldwide," the bank says, "so this news is important even if just a tiny percentage of retail businesses opt to add crypto capabilities."

Cons of Making Bitcoin Payments

The Morgan Stanley analysis points out some of the disadvantages of utilizing a bitcoin-based payment system, such as the cryptocurrency's underlying volatility on a day-to-day basis, which makes forecasting future buying power problematic.


Meanwhile, Morgan Stanley says that existing tax regulations, which require users to pay capital gains taxes on cryptocurrencies they sell, are a barrier to greater acceptance of bitcoin as a widely used means of exchange.


The bank, on the other hand, mentions the Virtual Currency Tax Fairness Act, which has been introduced in the US Congress. If passed, the law would exclude personal bitcoin transactions from taxation as long as the profits are less than $200.


Morgan Stanley, on the other hand, cautions that this plan may meet criticism, particularly from anti-crypto members of Congress, since it serves to establish bitcoin (and other cryptocurrencies) as credible alternatives to the US currency.


The Morgan Stanley analysis "suggests we are at the beginning of an age when more and more people may opt to pay for items using Bitcoin and cryptocurrencies over time," according to Alex Gladstein, who summarized it on Twitter.

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