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.
Japanese banking giants are looking to invest in financial technology startups, as the government is promoting innovation in the competitive fintech market.
The cooperation is expected to contribute significantly to the overall development of Ethereum.
The Republic of Georgia is expanding the use of blockchain-based land-titling services, following a successful trial of land title registrations in the second half of 2016.
Supported by reliable partners and third parties, Qtum aims to establish a smart contract hub, offering secure contract templates for a number of industries and use cases, such as supply chain management, telecommunications, IoT, social networking, and more.
Chinese exchanges suspend withdrawals of virtual currency while the country’s central bank increases pressure on bitcoin companies to stem capital outflows.
The new tool 21 profile will help you to start monetizing your internet presence.
Accenture develops a technology that focuses on the most questionable aspect of the blockchain – security.
The Association aims to raise bitcoin awareness in the country and warn about the possible risks of investment and Ponzi schemes that use the cryptocurrency.
IBM intends to use the Blockchain to improve the import and re-export process of goods in and out of Dubai.
President Donald Trump has recently announced a number of executive orders that aroused global uncertainties and resulted in bitcoin price recovery.
Managers of world’s leading bitcoin exchanges discuss why bitcoin price has been so volatile recently.
The Federal Council of the country initiated the consultation on amendments to the Banking Act and Banking Ordinance in the fintech area.
The IBM has surveyed 200 government leaders to identify four key areas where blockchain can achieve its potential.
The exchange, founded by the Winklevoss twins, has unveiled a new option to enable its clients instantly trade their digital funds via the platform.
The successful pre-sale of the world’s first blockchain-based augmented reality game demonstrates the growing interes to the game both in gaming and cryptocurrency communities.