For the average millennial or at least anyone that pays attention to the business world, the term “cryptocurrency” would not seem like such a strange word. If that is, then the terms Bitcoin, Ethereum or at least Blockchain should ring a bell. One might wonder, why are these terms suddenly so prevalent, especially cryptocurrency news? Computing is getting rather pervasive and the society is leaning towards digital services. The finance world too isn’t spared as the disruption of technology into this sector has fostered the birth and development of Fintech organizations.
These Fintech organizations look to digitize payments and transactions, offering the same services that are currently in existence but in a better, efficient and more effective way.
Blockchain is the network upon which most of these cryptocurrencies operate on. The history of blockchain and bitcoin, in particular, does not have a definite story. In 2009, an individual or group of individuals known to be “Satoshi Nakomoto” developed and published the technology to allow people make digital payments between themselves anonymously without having an external party to verify or authorize the transfer of the currency being exchanged.
Although technologies like this might seem rather complex, understanding how Blockchain works is quite easy, given that one has a basic idea of how networks work. Blockchain is simply a database shared between several users, containing confirmed and secured entries. It is a network, where each entry has a connection to its previous entry.
This technology affords a very secure model whereby every record in the database cannot be tampered with. Apart from the stellar security that this network offers, the transparency and speed at which the network operates give it an edge over the conventional way of conducting transactions.
In simple terms, cryptocurrencies are just monies in digital form, transacted via digital means and over a digital network. The transfer of these currencies is utilized with cryptography and the aforementioned blockchain network. Up until the 2010s, cryptocurrencies were not really known until Bitcoin made its breakout and this gave rise to the birth of new cryptocurrencies.
Cryptocurrencies have had their fair share of bullish and bearish trends, going to show how unstable they can be. The latest cryptocurrency news reports lots of people predicting prices for various cryptocurrencies in the years to come but no-one can say for sure.
Blockchain, on the other hand, is making its way into pervasive computing, especially IoT, giving way for the development of new solutions that embrace data security and transparency.
Simcord LLC-developed project is creating a global infrastructure platform for all types of operations with both digital and real assets.
Malta-based Founders Bank is to become the first community-owned decentralized blockchain-friendly banking institution in the world’s history.
JiojioMe, a Singapore-based mobile app connecting advertisers with their potential user base, has revealed the details of its platform’s development.
A draft bill on cryptocurrency regulations in India is expected by this month which will put more light into this matter.
Following a successful launch of their first blockchain-based game, Fuel Games has introduced a new eSports platform that will give players full control over the in-game economy.
The Finney smartphone that is fighting for the title of the first “blockchain phone” will be launched in November 2018. It claims to satisfy all the demands of the crypto market and maintain the incredible level of security for the reasonable price.
U.S.-based mobile stock trading app Robinhood has added two new cryptocurrencies to the growing stable of digital assets that users can trade free of charge.
The Cartier’s parent company expects the innovative technology to increase the transparency of its logistics system. The new board member of Richemont Jin Keyu who announced this decision also made a strong point on the importance of the academic research of the crypto sphere form the macroeconomics perspective.
Litecoin is once again back to the descending channel, which started forming on July 8.
Blockpass is offering a universal Know Your Customer (KYC) platform for users and service providers. Following the launch of its PASS Token Distribution Event on May 31, Blockpass confirmed its PASS token to be listed on HitBTC, Lykke, and Gatecoin. Blockpass’ token airdrop to commence today.
Lexit have announced a partnership with the first law firm – LXA The Law Firm – which joins their Global Partner Program to assist entrepreneurs and innovators in their development.
“Best athlete in the sport” according to Andy Murray, tennis star Gaël Monfils now wins renown in crypto world actively investing via eToro social trading network.
In spite of the short-term negative trends, Coinbase remains positive about the future. The company is making bold acquisitions and launching new institutional products since January 2018.
Currently, Ripple has a new senior vice president of business and corporate development. Former Facebook’s global payments director has joined the team.
The Kin Foundation and kik creators have made a multi-million dollar bet. They will pay to 25 developers $3 million to create and maintain independent “kin economies” over a six-month period.