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Bulgaria Pays You for Flight Delays in Bitcoins

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The cryptocurrency that has taken the world by storm since the first time it appeared in 2008 is called Bitcoin. Satoshi Nakomoto, the man who invented it, has started it as open-source software. Transfers with bitcoin don’t include any third parties thus making the whole process much easier. This digital currency is not something unknown in today’s world. It has been so much involved in everyday life that paying in a restaurant or shopping in malls with bitcoins is completely normal.

The advantages of using bitcoin instead of dollars or euros are already well-known. The fact that bitcoins are not connected to banks or any other financial institution is the reason behind its popularity nowadays. The idea about cryptocurrency has spread across the world, and many countries have been introduced to bitcoins years ago. Bulgaria is one of the countries where this cryptocurrency is gaining in popularity.

Trading Bitcoins

Trading Bitcoins is an easy process. People who want to do it on-site can use the ATM machines. There are many ATM machines in Sofia where bitcoins users can easily sell or buy bitcoins. When it comes to the regulation part, it still remains unclear in what directions are things going in the bitcoins world. Interestingly enough, Bulgaria is the second country with the highest number of bitcoins in the world. The Bulgarian government owns around 213.000 bitcoins.

So far, bitcoins users could easily trade their bitcoins online using Bitcoin Trader. It is one of the most popular online trading platforms. This online system doesn’t charge you for creating an account excluding any payment fees for registration on the site. This app offers the live trading feature and it’s definitely a reliable crypto trading platform.

Flight Delay Compensation in Bitcoins

The latest news from bitcoins in Bulgaria is that the Bulgarian technology firm, Colibra, is going to pay travelers for flight delays using bitcoins. As unusual as it may sound, it’s definitely a good idea that other company needs to follow in order to provide travelers with the options to receive compensation in bitcoins. When there is a flight delay for more than 2 hours, travelers using the Colibra app will get their money directly on their account.

So, what actually is Colibra? It is a community of travelers that get the right to be compensated for any flight delay. This is what the co-founder of this company has to say on the matter “At first people seem to be puzzled how they can get compensated for flight delays that are not covered by the EU regulation that pays out after three hours and without having to pay anything upfront.”
Colibra and Cryptocurrency

Since 2019, the company is compensating for flight delays but recently the cryptocurrency option has been added. No matter the reason the airline provides, travelers will receive their bitcoin compensation when the delay is longer than two hours.According to EU regulations, any company must compensate its passengers for delays longer than three hours, no matter the reason. Companies use apps available in the app store for download that automatically transfers the funds to the passenger’s account every time there is a flight delay.

Flight Delays Compensation

According to the startup, the chances of 90 minutes delay are bigger than a three hours delay, which is the reason why more passengers receive compensation for flight delays. Compensation in bitcoins is nothing new for companies worldwide. The French insurance company AXA uses the bitcoin platform, Blockchain, to compensate passengers in case of a delay longer than two hours. The fact that airflights are one of the most used means of transportation, it makes sense that receiving compensation for flight delays is happening more than usual.

However, bringing something innovative like giving compensation in bitcoins is something that travelers are likely to respond positively to. As a matter of fact, this is the first company from Bulgaria to offer a solution like this, especially when the popularity of bitcoins in the country is one the rise. Smart move, Colibra!

Finance

Reasons for Choosing Temporary and Permanent Industrial Buildings

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Professional temporary solution providers have become very innovative in designing industrial buildings. While temporary industrial structures are made of lighter materials such as aluminum and fabric or PVC covers, permanent solutions are made of steel or metal frames and sheets. All of them require good preparation of the ground, pre-fabrication of the frames and sheets, and proper installation to serve their purpose well.

Most beneficiaries of these structures are processing factories, manufacturing plants, sports clubs, schools, and many other organizations and companies. Choosing temporary and permanent industrial buildings from a reputable supplier has many perks.

So, let us dive into the reasons for choosing temporary and permanent industrial buildings to understand this topic better.

Amazing Speed of Constructions

Bye-bye brick and mortar industrial buildings that are time-consuming. Temporary and permanent industrial buildings are the way to go because they are fast and easy to fabricate and install using modern technology.

According to experts, these structures save a lot of time, especially if the frames and panels are already fabricated in the factory. Companies that need to set up new companies or expand the current ones will have everything ready in a matter of a few weeks.

Excellent Cost Saving

The economy is hard enough and the investor needs to save on capital when setting up companies or doing expansions. The good news is that temporary and permanent industrial buildings save costs by up to 30% when done by a professional company.

Smart-Space is not only innovative in their technology but they save you a lot of money when setting up your industrial structures. You can rent these structures if you only need them for a short time to save more money.

Absolute Flexibility and Versatility

If you are looking for structures that can be moved after a few years, then temporary and permanent industrial buildings are the way to go. As mentioned, they are made of frames and panels that are fastened together using bolts. Hence, they are easy to dismantle and move to a different location.

However, this work should be done by professionals to reduce damage and ensure the safety of the structures at all times.

High Level of Customization

If you are looking for functional sizes and unique designs that will maintain the theme of your company or organization, the temporary and permanent industrial buildings done by experts will be best. After a discussion of what will serve your business well, the solution provider will take a few days to do the designs with your preferred sizes and colors.

Customization also applies during the extension of an existing factory where everything is done to your preference or in the best possible way. To achieve a high level of customization, you should consider experienced solution providers.

Surprising Durability

Both temporary and permanent industrial buildings are surprisingly durable. Take steel industrial structures for example. They provide service for many years without the need for complicated maintenance. Since steel does not rust, the structure will withstand harsh weather conditions including moisture.

Structures made of metal frames and fabric are equally durable, especially when used as recommended. They also require low maintenance with no paintwork needed after every few years.

Manufacturer’s Warranty

The buyers of temporary and permanent industrial buildings enjoy different manufacturer’s warranty benefits. This could be the bought structures or the materials used to make them. What’s more is that many reputable service providers also give warranties on the workmanship, which will save cost when there is a problem.

Conclusion

To enjoy all of these benefits, it is good to buy or lease your temporary and permanent industrial buildings from a reliable and trusted supplier. Well, there are even more benefits that you will realize once you start using these structures. So, make the right choice now.

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Finance

New ways of thinking and working are necessary to reap blockchain benefits in capital markets

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The World Economic Forum today released Digital Assets, Distributed Ledger Technology, and the Future of Capital Markets. Across the capital markets ecosystem, institutions are facing a combination of intensified competitive dynamics and accelerating technology advancements, presenting opportunities and challenges both to incumbents and new entrants. Although DLT is not a panacea, the report underlines how it can positively impact costs, market liquidity and balance sheet capacity while reducing the complexity, opacity and fragmentation of capital markets.

Written in partnership with the Boston Consulting Group (BCG), the report is based on nearly 200 interviews and eight global workshops with capital market incumbent players, new entrants, regulators and governments. It presents use cases from equity markets, debt markets, securitized products, derivatives, securities financing and asset management.

DLT can address real challenges and inefficiencies in some markets by providing a trusted, shared source of truth between market participants. However, the future is uncertain as there is no agreed path for market-wide adoption. What’s more, as institutions still decide where to invest, varying strategies create tensions.

The report calls for a balance between innovation and market safeguards through standardization, the breaking down of silos and regulatory engagement. According to the authors, fundamentally transforming markets will require new ways of thinking and working across the industry.

“Following several years of intense hype, examples of use cases where inefficiencies and challenges are being solved with blockchain are starting to emerge across capital markets,” said Matthew Blake, Head of the Future of Financial Services, World Economic Forum. “With the future for blockchain in financial services still being defined, a nuanced look at the opportunities this technology offers right now is particularly important for the financial services industry.”

“Distributed ledger technology has come of age as it begins to enhance efficiencies, reduce operating costs and create new business models in capital markets, but the use cases and solutions are respective to each asset class,” said Kaj Burchardi, Managing Director, BCG Platinion. “Whilst this makes sense from a commercial perspective, it has led to a complex patchwork of initiatives. For capital markets to unilaterally adopt DLT, they will require cross-institutional alignment to realize the game-changing market opportunities it can offer.”

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Russian Nornickel signed a deal with UK chemicals giant Johnson Matthey

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Russian Nornickel, the world’s largest metal producer has signed a deal with Johnson Matthey (JM) on long-term supply of critical metals for their battery materials production in Finland.

The Finnish government is actively developing production sites for battery components. Finnish budget for 2021 includes additional funding of EUR 300 million for Finnish Minerals Group to promote investments for the production of precursor and cathode active materials used in lithium-ion batteries in Finland.

Earlier in April Nornickel announced plans to ramp up sustainable nickel and cobalt production at its refinery in Finland — NN Harjavalta — in response to the growing European demand for high quality and responsibly sourced metals for the EV industry. NN Harjavalta’s product range will be playing an important role in satisfying Johnson Matthey’s requirements for its precursor and cathode active materials production in Finland as well as for its existing factory in Poland.

Johnson Matthey announced the development in Finland of its second commercial plant with a nameplate capacity of 30 kt of ultra-high energy density cathode materials required by EV producers. The factory will be powered solely by renewable energy and incorporate an innovative effluent treatment solution.

Nornickel and Johnson Matthey have also signed a memorandum of understanding to explore options to further extend metal supply in the future. The parties also intend to collaborate in other important parts of the battery materials value chain, including new metal dissolution technology, circular economy opportunities, and tokenization of the supply chain using blockchain technology. Implementation of token-based smart contracts allows combining metal deliveries with complete provenance as well as ESG credentials including carbon footprint to ensure the unprecedented level of responsible sourcing.

The deal will allow the Russian and British company to define joint sustainable development initiatives.

“We are delighted for this opportunity to develop our business together with Johnson Matthey — a new important player in the Finnish battery materials ecosystem — and help the company expand on the European EV market. Our memorandum should enable us to identify mutually beneficial sustainability initiatives that support the ambition of achieving the most sustainable battery materials value chain in Europe,” commented Vladimir Potanin, President of Norilsk Nickel.

Earlier, Norilsk Nickel signed a letter of intent to establish a battery recycling cluster in Harjavalta, Finland, to serve the electric vehicle market in partnership with Finnish energy company Fortum and German world’s leading chemical company BASF. This will successfully complete the “closed loop” recycling cycle for critical metals present in used batteries.

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