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.
The project aims at transformation of loans and settlements with a help of blockchain technology.
The central bank of the UK takes a reasonable approach to a distributed ledger study and adoption.
Gemalto, one of the major digital security providers, has announced a partnership with Symbiont to allow secure trading of smart securities via the blockchain platform.
One of the largest banks in the USA has already filed for 15 patents and have 20 new ones in turn.
Blockchain Capital has raised $13 million in a second investment fund aimed at companies within the digital currency and blockchain ecosystem.
The project called ‘Blockchain Angel Fund’ aims at supporting blockchain companies in Japan.
Bitcoin payments processor Cashila has incorporated a new service that will enable users to quickly top up their balances with digital currency.
Don Duet states that blockchain can disrupt the existing financial system.
Zcash has many similar features with bitcoin although it strives to be as anonymous as cash.
Digital Asset is excited to announce that Hyperledger has become one of the most highly requested project participants in the Linux Foundation’s history.
The Australian Stock Exchange has become one of the 13 chief investors in Digital Asset Holdings.
Swiss bank UBS has offered its blockchain code to HEAL alliance to assist the company in fighting against HIV.
The company gets $50 million to apply a distributed ledger to financial services and expands its Board of Directors.
Cloud mining provider, Genesis Mining, has started a new campaign mocking JP Morgan CEO Jamie Dimon.
Developers of Aten Coin took into consideration bitcoin’s soft spots and came up with a more reliable digital currency.