Coin News

Synechron, a global consulting and technology innovator in the financial services industry, has released the results of a survey conducted...

The post Synechron Survey: Blockchain and AI Will Have Huge Impact on Financial Services Over Next 10 Years appeared first on Bitcoin Magazine.

Toronto-based Bitcoin consultancy and software development company Decentral has announced the integration of its Jaxx line of blockchain...

The post Jaxx Wallet Integrates Shapeshift for In-Wallet Conversion Between Bitcoin, Ether and DAO Tokens appeared first on Bitcoin Magazine.

Vitalik Buterin, founder of Ethereum, has laid out an incredibly ambitious roadmap with “unlimited” scalability within two years in a 43-page analysis of blockchain technology and its strength and weaknesses in a public or private setting. “The long term goal for Ethereum 2.0 and 3.0 is for the protocol to quite literally be able to […]

The post Ethereum Announces “Unlimited” Scalability Roadmap appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

Bitcoin Press Release: DEBERT, N.S., June 10, 2016 – On May 31st, Peerplays introduced a proposal that asked theDAO stakeholders to consider contributing to the development of a fully blockchain-based gaming and tournament wagering network. “The amount of positive feedback we received in emails, messages and phone calls was very encouraging.” said Jonathan Baha’i, president of […]

The post Peerplays to Innovate Ethereum with Sidechain for the DAO appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

The first Decentralized Web Summit, a gathering of developers striving to make the web open, secure and free of censorship by distributing...

The post Decentralized Web Initiative Aims to Reinvent Web With Peer-To-Peer And Blockchain Technology appeared first on Bitcoin Magazine.

Bitcoin price has begun to slowly lose altitude below $580 (Bitstamp). As usual, exuberant buying continues at the wave top, so upward spikes may still form. Analysis looks for the initial confirmation of a downward price correction. This analysis is provided by xbt.social with a 3-hour delay. Read the full analysis here. Not a member? […]

The post Bitcoin Price Intermediate Correction appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

A player for the Dallas Cowboys has alleged that his former business manager squandered his money on bad investments including a $3m bitcoin mine.

MasterCard international President Ann Cairns has called blockchain, the technology powering bitcoin, a very promising technology which MasterCard sees as a “good thing for the future.” Private banking corporations, investment banks, stock exchanges, and even central banks have taken deliberate, extensive measures to understand the innovation of blockchain technology in an effort to apply it […]

The post Mastercard International Chief: Blockchain Is Good for the Future appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

BlockCypher, a provider of web services that supports bitcoin blockchain applications, announced that its web services will now allow companies to build applications using the Ethereum protocol without needing blockchain infrastructure. The company made the announcement at the Exponential Finance conference in New York, N.Y. BlockCypher claims to be the first software provider to offer […]

The post BlockCypher Offers Ethereum and Bitcoin APIs on One Platform appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

Chinese bitcoin mining firm Canaan Creative (more commonly known by its brand Avalon), is being acquired for a reportedly princely sum of ¥3.06bn, approximately $466 million. It makes for a notable business deal in the bitcoin mining industry, perhaps the most notable yet. Beijing-based Canaan Creative, known for its bitcoin mining chip brand Avalon is […]

The post Chinese Bitcoin Mining Firm Canaan Acquired for $422 Million appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

A small, eclectic mix of blockchain experts sparred and occasionally agreed over ways to help further adoption of a technology they believe will transform the world.

Investor Fred Wilson, co-founder of Union Square Ventures, thinks banks are missing the most important opportunity bitcoin offers by building private blockchains. Speaking on a panel with Nathaniel Popper of The New York Times at the CB Insight “Future of Fintech,” he said the transformative value of virtual currency will be on a public blockchain, […]

The post Venture Capitalist: Banks Are Oblivious to Bitcoin’s Best Feature appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

Coinsource, a leading Bitcoin ATM network, has expanded its distribution of ATMs by setting up its first bitcoin ATM in New Orleans, Louisiana, in addition to new machines in Newark and Jersey City, New Jersey, with the total number of Coinsource bitcoin ATMs on the East Coast rising to 15. The Texas-based company’s latest additions […]

The post New Orleans Sees a New Bitcoin ATM from Coinsource appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

This story was delivered to BI Intelligence "Payments Briefing" subscribers. To learn more and subscribe, please click here.

On Tuesday, the China Banking Regulatory Commission and China’s central bank issued rules that will govern the operation of foreign payment card companies, like Visa and MasterCard, in China.

The entry of foreign players could considerably diversify the market. In order to enter China, card networks must hold 1 billion yuan ($152.4 million) in registered capital in a local company, be locally based, and meet China’s national security and cybersecurity standards, according to Reuters. Companies can apply by meeting the same standards as domestic card networks.

Historically, state-affiliated China UnionPay has held a near monopoly over the country’s card ecosystem, but a 2012 World Trade Organization (WTO) ruling pushed the country to open up to foreign markets. Since then, Chinese banks have begun to issue internationally-branded cards, but few local merchants accept them. That means the cards are mainly used for digital cross-border commerce and purchases made while traveling abroad.

The move could be a boon to major card networks, which have been waiting for direct access to China for years. Chinese consumers spent 55 trillion yuan ($8.4 trillion) on payment cards in 2015, and China is expected to be the largest card payment market in the world by 2020, according to Reuters. Grabbing even a small portion of that market could significantly boost total card spend for networks. For context, a 10% share of that spend in China equates to about 8.4% of the Nilson Report's listing of Visa's total global 2015 volume.

The opening of China to more foreign card companies is one piece of the ongoing evolution of the worldwide payments ecosystem, which is undergoing major changes even as we speak.

Evan Bakker and John Heggestuen, analysts at BI Intelligence, Business Insider's premium research service, have compiled a detailed report on the payments ecosystem that drills into the industry to explain how a broad range of transactions are processed, including prepaid and store cards, as well as revealing which types of companies are in the best and worst position to capitalize on the latest industry trends.

Here are some key takeaways from the report:

• 2016 will be a watershed year for the payments industry. Payments companies are improving security, expanding their mobile offerings, and building commerce capabilities that will give consumers a more compelling reason to make purchases using digital devices.
• Payments is an extremely complex industry. To understand the next big digital opportunity lies, it's critical to understand how the traditional credit- and debit-processing chain works and what roles acquirers, processors, issuing banks, card networks, independent sales organizations, gateways, and software and hardware providers play.
• Alternative technologies could disrupt the processing ecosystem. Devices ranging from refrigerators to smartwatches now feature payment capabilities, which will spur changes in consumer payment behaviors. Likewise, blockchain technology, the protocol that underlies Bitcoin, could one day change how consumer card payments are verified.

In full, the report:

• Uncovers the key themes and trends affecting the payments industry in 2016 and beyond.
• Gives a detailed description of the stakeholders involved in a payment transaction, along with hardware and software providers.
• Offers diagrams and infographics explaining how card transactions are processed and which players are involved in each step.
• Provides charts on our latest forecasts, key company growth, survey results, and more.
• Analyzes the alternative technologies, including blockchain, which could further disrupt the ecosystem.

To get your copy of this invaluable guide, 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 payments ecosystem.

Join the conversation about this story »

This story was delivered to BI Intelligence "Payments Briefing" subscribers. To learn more and subscribe, please click here.

US-based online payments gateway Stripe announced a full launch in France on Wednesday.

During its beta test in France, which lasted for over a year, the gateway saw “thousands” of businesses test the platform, including large companies, software firms, and online marketplaces, according to a company blog post. The launch marks Stripe’s tenth overall fully live market, according to Fortune. 

For context, Stripe allows users to integrate code into their websites in order to more easily accept card and other electronic payments for digital transactions. The firm was most recently valued at $5 billion after a large investment from Visa last summer.

The launch indicates the growing popularity of gateways as digital commerce becomes more common.

• Stripe’s peers are seeing quick growth. PayPal-owned gateway Braintree counted 219 million cards on file in Q4 2015, marking 111% growth over the 104 million it held in the same period a year earlier.
• Stripe is trying to become more competitive by adding more markets and additional features. Stripe is rapidly expanding — the firm is currently beta testing in 15 countries on top of its fully live markets, according to Fortune. And the firm continues to add e-commerce features, like Alipay integration and a new suite of buy buttons, in order to entice merchants.

Stripe's expansion overseas is evidence of the ongoing evolution of the payments ecosystem, which continues to evolve seemingly every day.

Evan Bakker and John Heggestuen, analysts at BI Intelligence, Business Insider's premium research service, have compiled a detailed report on the payments ecosystem that drills into the industry to explain how a broad range of transactions are processed, including prepaid and store cards, as well as revealing which types of companies are in the best and worst position to capitalize on the latest industry trends.

Here are some key takeaways from the report:

• 2016 will be a watershed year for the payments industry. Payments companies are improving security, expanding their mobile offerings, and building commerce capabilities that will give consumers a more compelling reason to make purchases using digital devices.
• Payments is an extremely complex industry. To understand the next big digital opportunity lies, it's critical to understand how the traditional credit- and debit-processing chain works and what roles acquirers, processors, issuing banks, card networks, independent sales organizations, gateways, and software and hardware providers play.
• Alternative technologies could disrupt the processing ecosystem. Devices ranging from refrigerators to smartwatches now feature payment capabilities, which will spur changes in consumer payment behaviors. Likewise, blockchain technology, the protocol that underlies Bitcoin, could one day change how consumer card payments are verified.

In full, the report:

• Uncovers the key themes and trends affecting the payments industry in 2016 and beyond.
• Gives a detailed description of the stakeholders involved in a payment transaction, along with hardware and software providers.
• Offers diagrams and infographics explaining how card transactions are processed and which players are involved in each step.
• Provides charts on our latest forecasts, key company growth, survey results, and more.
• Analyzes the alternative technologies, including blockchain, which could further disrupt the ecosystem.

To get your copy of this invaluable guide, 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 payments ecosystem.

Join the conversation about this story »