Payments Players Move on Blockchain Tech in Industry Shake-Up

Amid a steady stream of positive news, incumbent payment companies are quickly launching products and services incorporating blockchain technology. To date, payments firms openly offering blockchain services include financial technology provider D+H, online payments startup Dwolla and cross-border payments specialist Earthport, though the latest to launch an offering is PayCommerce, a decade-old software-as-a-service payments and remittance platform that connects network members across the globe. Each has so far taken a different approach to leveraging its market presence and products in a bid to win business, though all seem intent on taking advantage of…Read more …

Bitcoin, The Blockchain And The Future Of ‘Decentralized’ Conglomerates

With the advent of blockchain technology and smart contracts, a new paradigm of global enterprises is quickly emerging. As organizations combine forces in innovative ways, a new form of partnership called a Decentralized Conglomerate is now touted as being the “cutting-edge method” of building communities and establishing diversity in the marketplace. It’s a brave new world – if it wasn’t already before. We’ve all heard of industrial conglomerates like Phillip Morris Group and Hanson Plc. Then there are internet and digital conglomerates like Google GOOGL -0.39% and its parent company Alphabet, which has…Read more …

What Could Shape the Bitcoin Price Chart in 2016?

The year started on a low. The free fall from the previous year (2014) had not found its bottom as we crossed over to 2015. As a matter of fact, the lowest floor since 2012 was touched on January 14, 2015, when a bitcoin exchanged for an average of $177. At about this time, the cryptocurrency was receiving negative coverage from mainstreaming media, especially in relation to the Silk Road case, which was ongoing. After that, the price rallied and contained itself between $200, as the floor, and $300, as the ceiling, for…Read more …

Three Charged In JPMorgan Hack, Largest Bank Breach Ever

Two men are in custody and a third is on the run after allegedly hacking banking giant JPMorgan Chase & Co. in the largest bank breach in history. From 2012 to 2015, the men allegedly stole information from more than 100 million customers, Bloomberg reports. Among the other victims is a major business news publication, according to an indictment released Tuesday. Patricia Wexler, spokeswoman for JPMorgan, could confirm only that JPMorgan is one of the victims. "I can confirm officially that we’re victim number one referenced in the indictment," Wexler said. As for…Read more …

Encryption Is More Important, and Easier, Than Ever

Twenty years after Netscape introduced encryption to web browsers to safeguard the private data of Internet users, roughly two-thirds of web traffic still moves on unprotected channels, according to research by Sandvine, a network equipment provider. Whether you visit Amazon’s product pages, stream a movie from Netflix or read the tax rules on the Internal Revenue Service’s website, marketers and hackers can snoop on everything you do. But now, the computer industry and the United States government have embarked on a major, multifront campaign to have basic web encryption — known as HTTPS…Read more …

13 of Worlds largest bank partner to develop Blockchain Tech

Citi, HSBC Partner With R3CEV As Blockchain Project Adds 13 Banks Distributed ledger startup R3CEV has added 13 new banking partners, bringing the total number of banks involved in its activities to 22. In a release, R3 revealed Bank of America, BNY Mellon, Citi, Commerzbank, Deutsche Bank, HSBC, Mitsubishi UFJ Financial Group, Morgan Stanley, National Australia Bank, Royal Bank of Canada, SEB, Societe Generale and Toronto-Dominion Bank had signed on to the project. R3 CEO David Rutter suggested in statements that the startups approach to collaborating with the market to lower the cost…Read more …

5 Reasons why the “internet of money” will crush centralized finance

The idea of a fully decentralized financial system still sounds like a utopia. Or maybe not anymore, according to Spain’s second largest bank, BBVA. The institution seems to be ready to embrace financial disruption and believes that “the current system where financial institutions record individuals’ accounts in a centralized fashion and the banks’ reserves are stored by the central bank” could be replaced by “a fully decentralized financial system.” The Spanish bank, result of a merge between Banco Bilbao Vizcaya and Argentaria in 1999, released a report titled Blockchain Technology: The Ultimate Disruption in the Financial System, analyzing the creation…Read more …

Microsoft, MIT, and the Bitcoin Block Chain For Social Good

Brian Forde from the MIT Media Lab believes that the block chain and related technologies may serve to remind the government that they need to become more transparent and open. Forde's Digital Currency Initiative is specifically looking into ways that the block chain can be a force for social good. According to him, the block chain can be used to distribute social welfare. Forde thinks that some of the best innovations will come from the developing world, as their banking infrastructure is not as strong, and they can come up with stronger, more…Read more …

Shares Of Bitcoin Investment Trust Surge After Much Anticipated Debut

orignal article Bitcoins can now be traded on the public markets. After a long wait, Grayscale Investment’s Bitcoin Investment Trust (BIT) received formal approval on March 26 and began trading in May with the ticker GBTC. Over the last few days the price of BIT surged, and at one point traded at US$133.70 per share. A share of GBTC is equivalent to approximately one tenth of a bitcoin. As of today, GBTC on major exchanges is traded at US$49 per share, which means that bitcoins in the Bitcoin Investment Trust are being sold…Read more …

WHY VIRTUAL CURRENCIES ARE CHANGING THE WORLD #3

CLAMS virtual currency trades on a decentralized, peer to peer network. This offer 2 distinct benefits: a. Trust on a third party is never required to remain viable. This is what is called "Trustless" .  The middleman is completely eliminated which all but eliminates fraud. b. Being decentralized, no central authority owns or controls CLAMS so the price is established by pure supply and demand. Do not underestimate the power of the concepts of being Decentralized and Trustless. The very immediate future hold extremely exciting business developments based on these concepts.  Decentralized financial…Read more …