Coin News

Former US Secretary of the Treasury Larry Summers took part in a fireside chat at Consensus 2016 where he discussed blockchain and bitcoin today.

The Australian computer scientist Craig Steven Wright is sending shock waves throughout the Bitcoin world, as he once again claims to be the...

The post Seven Questions to Make Sense of Craig Wright's Signature Proofs appeared first on Bitcoin Magazine.

We are happy to announce the latest cryptocurrency output, changing the world of money for the better days! Bitcoin Press Releases: EDRcoin – a modern decentralized cryptocurrency, which concept is based not only on the mining principle, but also in a sustainable energy efficiency policies generating money. What do we mean? Already well-known that most […]

The post EDRС – Cryptocurrency to Change the World for Better appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

Craig Wright began the week trying to convince the world that he was Bitcoin’s creator, the pseudonymous Satoshi Nakamoto. Scrutiny of his claims and evidence duly followed before skepticism took over with programmers and members of the bitcoin core development team poking holes in the evidence produced. Generally speaking, not many were convinced – even […]

The post Craig Wright to ‘Move’ Bitcoin to Prove He Is Satoshi Nakamoto appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

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Western Union has been around since the 1850s, but that doesn't mean it's stuck in the past.

The money transfer leader recently participated in a funding round for Digital Currency Group (DCG), a firm that collaborates with financial institutions to develop use cases for blockchain technology outside of digital currencies such as Bitcoin.

DCG thinks Western Union could use its worldwide network to help DCG identify pain points tied to money transfers across borders.

Blockchain technology could revolutionize digital remittance. Western Union has been improving its digital segment and digging into blockchain technology, which uses a distributed ledger to increase efficiency across the financial industry. This, in turn, could reduce the cost of remittance services.

Migrants paid an average of 5.9% in fees on money transfers in 2014. Blockchain technology could streamline the process and reduce infrastructure cost for remittance companies, which could mean lower transfer rates for consumers.

The numerous partnerships between legacy financial companies and disruptive startups is proof that we’ve entered the most profound era of change for financial services companies since the 1970s brought us index mutual funds, discount brokers and ATMs.

No firm is immune from the coming disruption and every company must have a strategy to harness the powerful advantages of the new fintech revolution.

The battle already underway will create surprising winners and stunned losers among some of the most powerful names in the financial world: The most contentious conflicts (and partnerships) will be between startups that are completely reengineering decades-old practices, traditional power players who are furiously trying to adapt with their own innovations, and total disruption of established technology & processes:

• Traditional Retail Banks vs. Online-Only Banks: Traditional retail banks provide a valuable service, but online-only banks can offer many of the same services with higher rates and lower fees

• Traditional Lenders vs. Peer-to-Peer Marketplaces: P2P lending marketplaces are growing much faster than traditional lenders—only time will tell if the banks strategy of creating their own small loan networks will be successful

• Traditional Asset Managers vs. Robo-Advisors: Robo-advisors like Betterment offer lower fees, lower minimums and solid returns to investors, but the much larger traditional asset managers are creating their own robo-products while providing the kind of handholding that high net worth clients are willing to pay handsomely for.

As you can see, this very fluid environment is creating winners and losers before your eyes…and it’s also creating the potential for new cost savings or growth opportunities for both you and your company.

After months of researching and reporting this important trend, Evan Bakker, research analyst for BI Intelligence, Business Insider's premium research service, has put together an essential report on the fintech ecosystem that explains the new landscape, identifies the ripest areas for disruption, and highlights the some of the most exciting new companies. These new players have the potential to become the next Visa, Paypal or Charles Schwab because they have the potential to transform important areas of the financial services industry like:

• Retail banking

• Lending and Financing

• Payments and Transfers
• 
Wealth and Asset Management

• Markets and Exchanges

• Insurance

• Blockchain Transactions


If you work in any of these sectors, it’s important for you to understand how the fintech revolution will change your business and possibly even your career. And if you’re employed in any part of the digital economy, you’ll want to know how you can exploit these new technologies to make your employer more efficient, flexible and profitable.

Among the big picture insights you'll get from The Fintech Ecosystem Report: Measuring the effects of technology on the entire financial services industry:

• Why financial technology is so disruptive to financial services—it will soon change the nature of almost every financial activity, from banking to payments to wealth management.
• The basic conflict will be between old firms and new—startups are re-imagining financial services processes from top to bottom, while incumbent financial services firms are trying to keep up with new products of their own.
• Both sides face serious obstacles—traditional banks and financial services firms are investing heavily in innovation, but leveraging their investments is difficult with so much invested in legacy systems and profit centers.
• Meanwhile, startups are struggling to navigate a rapidly-changing regulatory landscape and must scale up quickly with limited resources.
• The blockchain is a wild card that could completely overhaul financial services. Both major banks and startups around the world are exploring the technology behind the blockchain, which stores and records Bitcoin transactions. This technology could lower the cost of many financial activities to near-zero and could wipe away many traditional banking activities completely.

This exclusive report also:

• Explains the main growth drivers of the exploding fintech ecosystem.
• Frames the challenges and opportunities faced by incumbents and startups.
• Breaks down global and regional fintech investments, including which regions are the most significant and which are poised for the highest growth.
• Reveals which two financial services are garnering the most investment, and are therefore likely to be transformed first and fastest by fintech
• Explains why blockchain technology is critically important to banks and startups, and assesses which players stand to gain the most from it.
• Explores the financial sectors facing disruption and breaks them down in terms of investments, vulnerabilities and growth opportunities.
• And much more.

The Fintech Ecosystem Report: Measuring the effects of technology on the entire financial services industry is how you get the full story on the fintech revolution.

To get your copy of this invaluable guide to the fintech revolution, choose one of these options:

1. Subscribe to an ALL-ACCESS Membership with BI Intelligence and gain immediate access to this report AND over 100 other expertly researched deep-dive reports, subscriptions to all of our daily newsletters, and much more. >> START A MEMBERSHIP
2. Purchase the report and download it immediately from our research store. >> BUY THE REPORT

The choice is yours. But however you decide to acquire this report, you’ve given yourself a powerful advantage in your understanding of the fast-moving world of financial technology.

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Craig Wright has failed to prove that he is Bitcoin’s creator, Satoshi Nakamoto. This article will explain technical facts that show how Craig Wright has not offered any conclusive evidence that he is Satoshi Nakamoto. Furthermore, Craig Wright’s self-published verification script reveals the he had played a clever deception, but had not been smart enough […]

The post Craig Wright Is Not Satoshi Nakamoto – the Technical Proof appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

A representative for self-proclaimed bitcoin inventor Craig Wright says further evidence will be soon be provided via the movement of bitcoin.

Bitcoin price remains above $440 and is testing $450 at the time of writing. A narrowing range of price action implies a break-out is building up steam. This analysis is provided by xbt.social with a 3-hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code […]

The post Bitcoin Price Holding $440 appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

ChainAnchor is an MIT project that was brought to the attention of the Bitcoin community last week by Bitcoin Core contributor Peter Todd....

The post The Real Story Behind the MIT ChainAnchor Project for Bitcoin appeared first on Bitcoin Magazine.

Blockchain, the technology that underlies Bitcoin, is generating interest from investors

Following a policy statement by the Australian Government Treasury in March that saw the authority reveal that digital currencies such as Bitcoin are likely to be exempt from double taxation via the Goods and Services (GST) tax, the Australian Government has kept its word. The Australian Government’s Budget 2016-17 has listed its intention to remove […]

The post Breaking: Bitcoin Gets a Tax Cut in Australia appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

This is a guest post by Jim Harper and the opinions reflected are those of the author. If triumphalism drove adoption, Bitcoin use would...

The post The Bitcoin Ecosystem’s Communications Deficits appeared first on Bitcoin Magazine.

Yesterday, Australian entrepreneur Craig Wright announced that he was the elusive creator of Bitcoin. His proclamation was immediately met with an avalanche of suspicion , with one prominent cryptography expert describing it as “flimflam and hokum.” Now, through a spokesman, Wright has promised that further proof for his claims is coming.

Read more...

Typically, financial institutions wait for a new technology to mature before investing in it. Blockchain technology, because of the impact it is expected to bring to the financial industry, is a different matter, as witnessed by the number of financial institutions investing in blockchain experimentation. Two Netherlands-based banks, Rabobank and ABN AMRO Bank N.V., are […]

The post ABN AMRO And Rabobank Ramp Up Blockchain Initiatives appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

In the idyllic, sleepy town of Zug in Switzerland, a city council meeting today saw the authority decide to accept bitcoin as a valid payment for municipality services as a part of a pilot program. Already a burgeoning Fintech destination, the town of Zug in Switzerland (some call it Crypto Valley, with over 15 industry-relevant […]

The post Swiss Town Accepts Bitcoin as Payment for Municipal Services appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

Making money off blockchain is no longer just about bitcoin or financial applications. One group of leaders spent today debating that future.

Delaware Gov. Jack Markell announced a state initiative to embrace blockchain and smart contract technology to help public and private enterprises lower transactional costs, automate and speed up transactions and reduce fraud. Markell announced the plan to look into blockchain technology while delivering a keynote address at Consensus 2016, a New York technology conference on blockchain […]

The post Delaware Governor Announces Plan To Embrace Blockchain Tech appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

In a major move that is undoubtedly going to benefit and bring credibility to bitcoin and digital currencies, derivatives giant CME Group has announced the launch of two bitcoin benchmarks as its newest products. CME Group rival ICE (Intercontinental Exchange Inc) which owns the New York Stock Exchange, will also launch a real-time price index […]

The post Derivatives Leader CME Announces Bitcoin Benchmark Rates; NYSE to Follow appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

Good morning! Here's what you need to know in markets on Tuesday.

HSBC reported a bigger first-quarter profit than analysts forecast, citing cost controls and strength in commercial banking. Bloomberg reports that pre-tax profit fell to $6.1 billion (£4.1 billion) from $7.1 billion (£4.8 billion) a year earlier, according to a filing in Hong Kong on Tuesday. That compared with the $4.3 billion (£2.9 billion) average estimate of 14 analysts compiled by the lender.

Other European investment banks posted mixed first quarter earnings, with Commerzbank disappointing and BNP Paribas beating forecasts. Reuters reports that Germany's Commerzbank posted a 52% drop in first-quarter net profit but France's BNP Paribas saw a 10.1% rise in net income and beat analysts' forecasts with a quarterly net profit of €1.8 billion (£1.8 billion, $2 billion). UBS posted a net profit of SwFr 707 million (£504.9 million, $741 million), in line with estimates but well below last year's figure of SwFr 1.98 billion (£1.4 billion, $2 billion).

The Australian IT executive who late last year was engulfed by rumours that he invented Bitcoin has claimed he really is behind the digital currency. Craig Steven Wright came to prominence as a strong contender for being the true identity of Satoshi Nakamoto, the mysterious figure behind the creation of Bitcoin, in December 2015. He disappeared from public view at the time but has now resurfaced, claiming he wants to “set the record straight.”

App-only startup bank Tandem is following in the footsteps of fellow digital challenger bank Mondo and launching a crowdfunding campaign. Tandem is aiming to raise £1 million ($1.4 million) in a campaign that goes live in mid-May. The startup has already raised "tens of millions", according to founder Ricky Knox, from investors including eBay founder Pierre Omidyar.

Japanese markets are still diving. The benchmark Nikkei collapsed 3.11% on Monday, following on from last week's surprise announcement of no further stimulus from the Bank of Japan. China's benchmark Shanghai Composite is up 1.63% at the time of writing (6.30 a.m. GMT/1.30 a.m. ET) and the Hong Kong Hang Seng is down 1.07%.

UK manufacturing numbers are coming. The latest PMI for the sector will be published at 9.30 a.m. GMT (4.30 a.m. ET). Economists are expecting April's growth figure to come in at 51.2, a slight acceleration from March's 51. Anything above 50 signals growth in activity.

Apple shares closed down for an eighth-straight day on Monday — the first time this has happened since July 1998. The stock has lost 11% since April 26, when the company reported first-quarter earnings that fell short of analysts' expectations on some key metrics.

There might be a mole inside the US economy. According to a white paper released by the European Central Bank on Monday, there is statistical evidence that a large swath of US economic data is getting leaked early, leading to price shifts in markets before the releases come out.

The US energy high-yield default rate has hit an all-time high of 13%, topping the previous record of 9.7% set in 1999, according to Fitch Ratings. On Friday and Saturday, Ultra Petroleum and Midstates Petroleum respectively filed for bankruptcy protection. Their filings added $3.1 billion (£2.1 billion) to the high-yield energy bond default volume.

Halliburton and Baker Hughes officially called off their $28 billion (£19 billion) megadeal on Sunday, and three banks stand to lose nearly $100 million (£68.1 million) as a result. The oil field services giants terminated their merger agreement after facing opposition from antitrust regulators in the US and Europe.

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OpenBazaar was the big winner at the 2016 Blockchain Awards, besting the competition in three of the five award categories.

At Consensus 2016, the cryptocurrency- and blockchain-industry conference currently being held in New York, Chief scientist of the Bitcoin Foundation Gavin Andersen has stuck with his assertion that Craig Wright is Satoshi Nakamoto, following his meeting with the Australian entrepreneur. He also added that his website wasn’t hacked, contrary to rumors after his post which […]

The post Gavin Anderson Refutes Hacking Claim to Assert Craig Wright Is Satoshi appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

Silver Lake's Glenn Hutchins took the stage at Consensus 2016 today to deliver a speech on the power of the bitcoin blockchain.