{"id":554473,"date":"2021-12-09T14:01:27","date_gmt":"2021-12-09T14:01:27","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/09\/the-pandemic-is-going-to-turn-the-rich-into-a-troupe-of-scrooge-mcducks-visa-delves-deeper-into-crypto\/"},"modified":"2021-12-09T14:01:27","modified_gmt":"2021-12-09T14:01:27","slug":"the-pandemic-is-going-to-turn-the-rich-into-a-troupe-of-scrooge-mcducks-visa-delves-deeper-into-crypto","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/09\/the-pandemic-is-going-to-turn-the-rich-into-a-troupe-of-scrooge-mcducks-visa-delves-deeper-into-crypto\/","title":{"rendered":"The pandemic is going to turn the rich into a troupe of Scrooge McDucks + Visa delves deeper into crypto"},"content":{"rendered":"

<\/a> The pandemic continues to make the rich even richer<\/strong>, with the top 0.01% of individuals now holding 11% of the world\u2019s wealth, according to the World Inequality Report 2022<\/a>, recording the steepest increase in bn\u2019aires share of wealth on record. The report showed that bn\u2019aires own 3.5% of global household wealth in 2021, up from a little over 2% at the outset of the pandemic in 2020. Forbes<\/a>\u2019 annual list of bn\u2019aires showed that 2,755 bn\u2019aires had a net worth of USD 13.1 tn this year \u2014 up from USD 8 tn last year. In November, WFP Director David Beasley singled out bn\u2019aires Elon Musk<\/a> and Jeff Bezos to donate a fraction of their wealth to end world hunger.<\/p>\n

Visa delves deeper into crypto with a new consulting arm. <\/strong>The world\u2019s largest payment processor has launched an advisory service to help its clients navigate the world of cryptocurrencies, Reuters<\/a> reports. Visa said its new practice is aimed at educating financial institutions about crypto, helping retailers attract customers with a crypto offering \u2014 including assets such as NFTs \u2014 and guiding central banks looking to explore digital currencies. The move comes after a global study by Visa showed that nearly 40% of respondents would be likely to switch primary banks to one that offers crypto products. Visa currently allows buying, selling and owning digital currency through its network, and has processed USD 3.5 bn in digital currency transactions through its crypto-linked card schemes.<\/p>\n

Speaking of which, BTC mining is soaring \u2014 and so is the BTC hash-rate<\/strong>, rising to its highest rate since May, reports the Financial Times<\/a>. The BTC hash-rate, which measures how difficult it is to create new coins and is reflected in computing power, rose as miners dedicated more computer resources to minting the digital coin. The energy-intensive process of BTC mining was outlawed in China in May as the Asian country ramped up efforts to slash emissions and produce its own digital currency, which sent miners to the US, Iceland, Norway and Canada, with the US emerging as the world\u2019s biggest hub for minting BTC. Since September, crypto prices have been recovering, as has the capacity to mine the currency. Some US miners have forecast that they would hit record mining levels by the middle of next year as they ramp up production on new-generation equipment. For more about how crypto is mined, check out our two-part explainer on BTC mines.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The pandemic continues to make the rich even richer, with the top 0.01% of individuals now holding 11% of the world\u2019s wealth, according to the World Inequality Report 2022, recording the steepest increase in bn\u2019aires share of wealth on record. The report showed that bn\u2019aires own 3.5% of global household wealth in 2021, up from […]<\/p>\n","protected":false},"author":1,"featured_media":554474,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7215],"tags":[344,637,633,638,670,373,666],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-554473","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-for-your-commute","tag-cryptocurrency","tag-elon-musk","tag-enterprisepm","tag-for-your-commute","tag-jeff-bezos","tag-mining","tag-visa","wpautop","entry"],"acf":{"mongo_id":"bffdeaea-8df2-490b-9a9e-21c1e89ee199","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/12\/617.jpg","photo_position":"above","related_issue":[554469],"teaser":"","voice_url":""},"yoast_head":"\nThe pandemic is going to turn the rich into a troupe of Scrooge McDucks + Visa delves deeper into crypto - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/12\/09\/the-pandemic-is-going-to-turn-the-rich-into-a-troupe-of-scrooge-mcducks-visa-delves-deeper-into-crypto\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The pandemic is going to turn the rich into a troupe of Scrooge McDucks + Visa delves deeper into crypto\" \/>\n<meta property=\"og:description\" content=\"The pandemic continues to make the rich even richer, with the top 0.01% of individuals now holding 11% of the world\u2019s wealth, according to the World Inequality Report 2022, recording the steepest increase in bn\u2019aires share of wealth on record. 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As a bn\u2019aire of course Elon Musk would say no. However, he did say onTwitter he is willing to sell Tesla stock worth as much as USD 6 bn \u201cright now\u201d if the World Food Program (WFP) can prove how\u2026","rel":"","context":"In "FOR YOUR COMMUTE"","block_context":{"text":"FOR YOUR COMMUTE","link":"https:\/\/enterpriseam.com\/egypt\/category\/for-your-commute\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/30.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":551651,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/05\/bnaire-tears-are-sweet-solace-calories-vs-carbon\/","url_meta":{"origin":554473,"position":1},"title":"Bn\u2019aire tears are sweet solace + Calories vs carbon","author":"enterpriseam admin","date":"5 July 2022","format":false,"excerpt":"The world's richest bn\u2019aires lost USD 1.4 tn in the worst six-month drop ever. 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People are robbing banks \u2014 to get their own money: Two armed Lebanese citizens entered two separate banks in Lebanon today to retrieve money from their own accounts, which have been frozen since the country spiraled into a financial crisis in 2019, Reuters reports.\u2026","rel":"","context":"In "FOR YOUR COMMUTE"","block_context":{"text":"FOR YOUR COMMUTE","link":"https:\/\/enterpriseam.com\/egypt\/category\/for-your-commute\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/9\/506.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":659116,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/01\/21\/tech-titans-tighten-grip-on-trumps-second-term\/","url_meta":{"origin":554473,"position":3},"title":"Tech titans tighten grip on Trump\u2019s second term","author":"enterpriseam admin","date":"21 January 2025","format":false,"excerpt":"Despite substantial support from tech titans, Trump maintains that they won\u2019t receive special treatment","rel":"","context":"In "FOR YOUR COMMUTE"","block_context":{"text":"FOR YOUR COMMUTE","link":"https:\/\/enterpriseam.com\/egypt\/category\/for-your-commute\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/1\/1467.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":571100,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/29\/how-much-have-the-worlds-bnaires-donated-to-covid-19-efforts\/","url_meta":{"origin":554473,"position":4},"title":"How much have the world\u2019s bn\u2019aires donated to covid-19 efforts","author":"enterpriseam admin","date":"29 April 2020","format":false,"excerpt":"Surprise: Bn\u2019aires aren\u2019t dishing out huge chunks of their wealth for covid-19 support. Twitter CEO Jack Dorsey is somewhat of an outlier among bn\u2019aires\u2019 covid-19 donations, dishing out nearly 25% of his net worth, according to this Visual Capitalist infographic. As a share of his wealth, Dorsey\u2019s donation is larger\u2026","rel":"","context":"In "Image of the Day"","block_context":{"text":"Image of the Day","link":"https:\/\/enterpriseam.com\/egypt\/category\/image-of-the-day\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/4\/251.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":642660,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/08\/20\/the-new-space-race-is-being-dictated-by-business-and-not-government\/","url_meta":{"origin":554473,"position":5},"title":"The new space race is being dictated by business and not government","author":"enterpriseam admin","date":"20 August 2017","format":false,"excerpt":"The new space race is being dictated by business and not government: Today\u2019s space race has been characterized as that between entrepreneurs, such as Elon Musk and Jeff Bezos \u2014 \u201cmore by commercial gain and personal vanity,\u201d the Financial Times\u2019 John Thornhill says in this mini-documentary on private sector space\u2026","rel":"","context":"In "Worth watching"","block_context":{"text":"Worth watching","link":"https:\/\/enterpriseam.com\/egypt\/category\/lifestyle\/worth-watching\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2017\/8\/711.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/554473","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=554473"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/554473\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/554469"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/554474"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=554473"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=554473"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=554473"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=554473"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=554473"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}