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The fervent enthusiasm for blockchain technology among the banking and financial industry is a case of the innovation being “over-hyped” according to a senior executive of technology research firm Gartner. As blockchain takes center stage at the annual Swift-organized banking and financial conference Sibos, one technology executive sees the technology being over-hyped, at least in […]

The post Gartner Senior Executive: Blockchain is Being Over-Hyped appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

First announced on the cryptography mailing list in 2008, Bitcoin was the embodiment of a decade-old cypherpunk vision. A digital currency...

The post Bitcoin Returns to Its Cypherpunk Roots: An Interview With Lupták and Sip of Hackers Congress Paralelní Polis appeared first on Bitcoin Magazine.

DNB, Norway’s largest bank, has dismissed Norges Bitcoinforening, a recently-formed, non-profit bitcoin association, over concerns about terrorist financing and money laundering, according to e24.no, a Norwegian news site. Norges Bitcoinforening has since decided to take its business elsewhere. The association opened a bank account in August to receive dues and donations which can be made in bitcoin. […]

The post DNB, Norway’s Largest Bank Shuns Bitcoin, Boots Bitcoin Association appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

Bitcoin price continues trading above $600 and 4,000 CNY across exchanges. Price action and market momentum are slowing, as bitcoin price typically does prior to a strong directional move. This analysis is provided by xbt.social with a 3-hour delay. Read the full analysis here. Not a member? Join now. Bitcoin Price Analysis Time of analysis: […]

The post Bitcoin Price Reclaims $600 appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

An insurance platform based on the blockchain. That’s what those pesky blockchainers – who find themselves on the cutting edge of fintech – find themselves now considering for an industry long marred by hacks, loss of coins and other compromised value.  

The post Is Insurance Bitcoin’s Killer App? appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

De-globalization is not just about Brexit and rising U.S. protectionism. It is much more than that. It's a pervasive negative attitude...

The post Op Ed: Blockchain Can Make Globalization Work appeared first on Bitcoin Magazine.

CME Group has added China-based digital currency exchange OKCoin to its bitcoin pricing indexes, first announced in May.

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A year ago, Bitcoin Magazine highlighted the work of U.S. Congress Representative Jared Polis and noted his work meeting with politicians...

The post New Bipartisan Blockchain Caucus Will Promote the Use of Bitcoin and Blockchain Technology appeared first on Bitcoin Magazine.

According to an IBM survey that gathered insights from 200 global banks, 15% of those banks could be running blockchain solutions as early as 2017. While 2016 is the year that has – already – seen blockchain prototypes tested and trialed, 2017 will be the year banks start putting blockchain solutions into implementation, according to […]

The post Threat of ‘Substantial Disruption’ Sees Banks Using Blockchain in 2017 appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

In what’s turning into the “year of the hack,” security issues are increasingly top of mind for those working in the Bitcoin and blockchain...

The post Pamela Morgan on Security: “You Don’t Get to the Moon Without Blowing Up a Few Rockets” appeared first on Bitcoin Magazine.

As Accenture files a patent prototype that would allow changes to be made to the blockchain in ‘exceptional circumstances’ the consultancy firm has come under criticism. Earlier this month, Richard Lumb, global head of financial services at consultancy firm Accenture, wrote a column in the New York Times discussing the immutable ledger of transactions through the blockchain. […]

The post Accenture’s “Editable Blockchain” Prototype Draws Criticism appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

Grocery prices are in a free-fall. 

Food prices have declined for nine straight months in the US, marking one of the longest stretches of food deflation in 50 years.

We went to Walmart to find out just how far prices have fallen at the No. 1 grocery store in the US.

We compared the prices of 34 items at a store in Richmond, Virginia on Tuesday to the prices of the same items at the same store in December 2015.

The result? The basket of groceries is now 10% cheaper than it was nine months ago. 

The basket total in September was $104.17. In December 2015, the same items cost $114.86. 

Some of the products' package sizes have changed over the last year, so we calculated those differences into the final price.

We found the biggest price drops among the eggs (down 67% to 82 cents for one dozen eggs); goat cheese (down 56% to $1.99 for 4 ounces); pineapples (down 41% to $1.75 per fruit); almonds (down 37% to $5.13 for 12 ounces); peanut butter (down 28% to $3.14 for 40 ounces); and extra virgin olive oil (down 23% to $2.98 for 17 fluid ounces). 

The prices of ground beef and chicken also fell considerably, dropping 8% and 11% respectively.

Some items cost considerably more than in December 2015, such as 2-liter bottles of Coca-Cola (up to $1.48 from $1 per bottle in December) and canola oil (up to $2.88 for a 48-fluid-ounce bottle from $1.98 in December). 

Walmart likely increased prices on those items to offset the plunging costs of meat, poultry, fish, and eggs. Since August 2015, prices of those items have dropped 6.5%, representing the biggest drop of any food group in that period, according to the Bureau of Labor Statistics.

We reached out to Walmart to find out why some prices have risen while others have fallen. The company was not immediately available for comment.

Here's a full list of Walmart's prices, adjusted for varying package sizes:

SEE ALSO: A German grocery chain that crippled its rivals in the UK is about to invade the US

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NOW WATCH: We tried the Costco food court and it totally blew us away

Technology giant Microsoft and financial institution Bank of America Merill Lynch have announced a collaboration with the aim to “fuel transformation of trade finance transacting”, with blockchain technology. In an announcement at the annual SWIFT-organized Sibos conference, Microsoft and Bank of America Merrill Lynch underlined their collaborative aim to usher in blockchain technology to transform […]

The post Microsoft Partners Bank of America on Blockchain to “Transform” Trade Finance appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

Digital currency exchange Bitso has raised $2.5m in new funding.

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In an announcement today, the Securities and Exchange Commission said it will host a public forum to discuss Fintech innovation at its Washington D.C. headquarters in November. The Securities and Exchange Commission (SEC), the federal body which serves as the regulator for all of the United States’ stock exchanges and electronic securities markets, has given […]

The post U.S. Securities and Exchange Commission to Host Public Fintech Forum appeared first on CCN: Financial Bitcoin & Cryptocurrency News.