Indian rapper Raftaar is reportedly accepting cryptocurrency for his upcoming efficiency in Canada. “Nevertheless, I’ve lastly taken the child steps in this direction and all the credit goes to my manager, Ankit Khanna for generating this dream a reality for me,” Raftaar stated. I’ve constantly wondered why artistes and managers alike haven’t explored the possible of this disruptive medium,” Raftaar opined. It is scheduled for the second week of July. Raftaar, an Indian rapper, lyricist, dancer, Tv personality and music composer, produced headlines this weekend for being the “first Indian artist to accept functionality charge in cryptocurrency.” Raftaar’s genuine name is Dilin Nair. The rapper did not mention which cryptocurrency he will be paid in, nonetheless. The performance for which Raftaar will be paid in cryptocurrency is a 1-hour virtual event in Ottawa, Canada, for a private group of about one hundred people. “I’ve often been an ardent admirer of blockchain technologies.
The ultimate objective of cryptocurrencies is to develop into a payment method substituting, complementing, or competing with the traditional payment systems. Irrespective of whether or not such an objective could be achieved, the functional similarities in between certain cryptocurrencies and fiat funds has persuaded competent authorities of certain EU Member States to grant payment institution licenses to cryptocurrency exchanges. Considering that the volatility and finality risks can’t be completely addressed beneath the existing payment laws, an alternative policy solution would be granting a particular license to cryptocurrency organizations or introducing ring-fencing mechanisms to defend the standard payment systems from the dangers of cryptocurrency payments. At very first blush, granting such an authorization would appear to be a step forward as it would bring otherwise unregulated cryptocurrency exchanges inside the scope of the current payment regulatory framework. Nevertheless, this authorization correctly applies payment laws to new payment infrastructures that rely on volatile settlement assets with probabilistic finality.
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