Coin News

Princeton University professor of computer science and bitcoin researcher Ed Felten has joined the White House as deputy chief technology officer.

Nasdaq hasn’t been around Bitcoin’s Block Chain very long, but they like what they see and are moving to integrate fully with its innovations. The new technology the block chain provides intrigues Nasdaq enough to begin a larger integration with their product portfolio, and the ability to make new offerings for their clientele. In the […]

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 Sen. Rand Paul (R-KY) has appointed Overstock.com CEO Patrick Bryne to his tech counsel, a group that includes Michele Weslander Quaid of Google, and Brandon Hudgeons of Schoox and will help shape the presidential candidate’s tech platform. Patrick Byrne of http://t.co/PkoZW5Svn0 @OverstockCEO , Adil Khan, Steve Danziger from BAE Systems, @bhudgeons of Schoox (2/2) — Dr. Rand… Read More

Bitcoin price has been drawing sideways near 1500 CNY and $242 during the past 24 hours. At the time of writing a wave to the upside is developing but it looks suspicious. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Not a member? Join now and receive […]

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Ziddu.com, a cloud-based content distribution platform operated by Singapore-based Meridian Pte. Ltd., has provided a bitcoin wallet to its users. Users can now buy vouchers for gift cards, mobile recharge or games (such as XBOX and Play Station) with bitcoins. Ziddu provides free cloud storage, content distribution and micro payment services. It offers free cloud […]

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The Philippines has the world’s third largest remittance market just behind India and China, with overseas remittances reaching more than $25.1 billion in 2013. But due to the country’s poor banking systems and expensive remittance services, overseas Filipino workers and the local workers working far from their provinces have always searched for alternative systems for transferring cash. For generations, remittance services including Lhuiller and Palawan Pawnshop dominated the market in the Philippines, despite its high transaction fees. On average, the fees are close to 10 percent for small transactions ranging from $1 to $300. The majority of overseas workers have been using expensive remittance services due the bank’s inefficiency in sending payments and its substantially high minimum deposit rates. Since […]

The post Three Bitcoin Startups Solving Remittance Problems in the Philippines appeared first on Bitcoin Magazine.

Earlier this week, Indian Bitcoin exchange BTCXIndia shut down after a banking partner closed the account for an undisclosed reason. Unocoin, an Indian Bitcoin exchange which raised funding from Barry Silbert’s Bitcoin Opportunity Corp., was questioned by local authorities who reportedly said that Bitcoin and the exchange were illegal in India. When contacted for further information, BTCXIndia was unwilling to give any further details. BTCXIndia CEO Mupparaju Siva Kameswara Rao did state that the exchange was running a regulatory compliant trading platform, and had been in close contact with banks and authorities to ensure they were as “legally compliant as possible.” He added, “Today’s news comes as a big shock to us all.” Unocoin CEO Sathvik Vishwanath told Bitcoin Magazine that […]

The post Indian Banking Relationships Disappear as Bitcoin Exchanges Field Questions from Authorities appeared first on Bitcoin Magazine.

Canberra's mobile transport app MyBus 2.0 has stopped accepting bitcoin payments following poor traction with the digital currency.

NASDAQ is using a key bitcoin technology

Randal Howard Paul, better known as Rand Paul, is a member of the Republican Party in the United Sates Senate. He currently holds the position of Senator for Kentucky. His issues range through a range of subjects. He has often been vocal about auditing the Federal Reserve on numerous occasions. And Rand has not only […]

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The "blockchain" is the technology that underpins Bitcoin, a digital currency that its proponents claim will revolutionise global finance. And now it's coming to Wall Street.

The Wall Street Journal reports that the Nasdaq is experimenting with blockchain technology in a pilot project, a move that could — if successful — transform the financial industry.

So what is the blockchain?

First of all, Bitcoin is a decentralised currency — there is no central bank, no mint printing money, no governing authority maintaining records.

But records have to be maintained somehow, to ensure there's no double-spending of the currency. Instead, members of the network collectively contribute processing power from their computers to maintain Bitcoin's integrity. And every time a transaction is made, a record of it is sent out to be recorded in immutably in a public ledger, which cannot later be changed. This ledger is the blockchain.

It allows Bitcoin users to cut out the middle-man — one user can send another a sum of money, no matter where they are in the world, without having to rely on any financial institution. Once the transaction is carried out, it is effectively set in stone — a record of it distributed permanently across the entire network.

And the blockchain's potential extend beyond currency. There are now numerous startups working to implement the notion of a decentralised ledger in areas ranging from signing contracts to tracking conflict diamonds and even voting in elections.

Nasdaq is hoping to bring the efficiency that the blockchain promises to other areas of finance, potentially dramatically reducing the need for lawyers and intermediaries. For now, Nasdaq is implementing the technology in its Nasdaq Private Market, which the WSJ reports is "a fledgling marketplace launched in January 2014 to handle pre-IPO trading among private companies."

Previously maintained by "largely informal systems, including spreadsheets maintained by lawyers who verify transactions by hand," the blockchain could automate the entire process. Once a deal is done, the parties would cryptographically sign a contract and the rights would be transferred over almost instantaneously — no lawyers required.

Nasdaq has shown an interest in the digital currency space before. It previously provided the core technology to power New York bitcoin startup Noble Markets — but this marks the first time it has integrated Bitcoin-related technology into its own systems.

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NOW WATCH: How Our Hated Paper Money Has Evolved Over The Years

Lance Parker has always had an interest in space. He was an early adopter of Bitcoin, having mined it in the early days until it seemed the difficulty had gotten the better of him. He’s run a number of different companies since graduating college, notably a mobile security company called iTag, which grew to 50,000 […]

The post ConnectX Will Take Your Bitcoin Wallet into Space appeared first on CryptoCoinsNews.

The United Kingdom has been the centre of Bitcoin discussion on and off for a while now. Ranging from its lack of regulatory oversight, inclusionary attempts, taxation clarification for cryptocurrency, consultations, and meetings. All leading to the current state of waiting on what will emerge in the regulatory framework for the Bitcoin sector. Back in […]

The post UK Banks Hold Blockade Firmly – Bitcoin History in the UK appeared first on CryptoCoinsNews.