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.
Digital Asset Holdings, the blockchain-focused startup run by Blythe Masters, has announced it will open an office in London and hire two new executives.
Cryptsy published a blog post with step-by-step explanation of conducted cyberattack.
E-coin is one of the leading providers of bitcoin debit cards all over the world.
A digital currency developed by The Royal Canadian Mint was purchased by nanoPay, a loyalty and payment platform based in Toronto, and is going to come back to the market.
Jackpocket, an app for trading lottery tickets, has announced it is now using the virtual currency.
Together the teams will start a new New York-based subsidiary with focus on reliable industry news coverage.
Ulbricht’s defense team filed a multipage argument with a list of improprieties and abuses in Ulbricht’s investigation and trial.
This year, the North American Bitcoin Conference is anticipated to include presentations from some of the leading players in the cryptocurrency sector, including Bobby Lee and Bruce Fenton.
The detention became possible due to united efforts of Austria, Bosnia and Herzegovina, Germany, the United Kingdom and Europol.
John Biggs launches Freemit, a new platform to transform the business of money transfers.
David Wells touched the topic of bitcoin recently stating that the digital currency can be useful in countries where traditional payment options are not adopted well.
According to the recent research, elaborated by Ernst and Young, the use of fintech among digitally active consumers is anticipated to double next year.
On April 8, 2016, venture capital fund Nextury Venture, in association with Vilnius City Municipality, will host “The Bitcoin Conference 2016” attract startups, firms, and investors from all over the world to Lithuania.
15 UK start-ups were selected for the 2016 Fintech Innovation Lab London, the fintech accelerator programme, from a leading global professional services company Accenture.
BitStamp offers to exchange gold only for US dollars now but it is going to add a bitcoin-for-gold option soon.