London Blockchain Week showcases the good side of Blockchain
The cryptocurrency technology is known for its ease-of-access, transparency, and decentralization. These very features also bring in accountability, which is much needed in today’s social good sector. The use of Bitcoin in the non-profit industry sector has already shown promising results, enabling people to donate to the needy, in a timely manner irrespective of the location. The recently concluded London Blockchain Week 2017 showcased the cryptocurrency and distributed ledger technology in a different light. There is a popular misconception among many that Bitcoin and altcoins are for criminals who sell drugs and weapons on the dark net. But one look at few of the “blockchain for good” initiatives is enough […]
South Africa to establish a strong foothold in Fintech Sector
The next fintech and blockchain revolution is waiting to happen in South Africa. The country is already home for some of the most innovative startups, and with the new fintech wave catching up, more startups are expected to raise their heads by the end of this year. According to a leading regional startup news platform, most of the innovations in the year 2017 will be focused on mobile payments, digital banking, Bitcoin, SME financing, data analytics, real estate and automation solutions. Incidentally, all these priority areas present an opportunity for the implementation of blockchain technology. The developing world is increasingly moving towards mobile payments. The rise of mobile wallet services […]
Bitcoin is back above $1,000
Bitcoin is is back above $1,000 for the first time since January 5. The cryptocurrency was higher by 1.5% at $1,000.10 a coin as of 11:39 a.m. ET. It’s been a wild year for bitcoin. It began 2017 with a 20% rally during the first five days of the year before crashing 35% on concerns of a crackdown on trading in China. Thursday’s gains have extended bitcoin’s winning streak to a sixth straight session as trade appears to be benefitting from uncertainty surrounding Donald Trump’s presidency. The cryptocurrency has gained nearly 10% since Trump was inaugurated on January 20. To read more, please click on the link below… Source: […]
Digital currency exchange Gemini introduces pre-credited bitcoin deposits
Gemini, a New York-based bitcoin exchange being developed by Winklevoss brothers, introduced a new first for digital asset exchanges – zero confirmation pre-credited bitcoin deposits. Due to the increasing bitcoin transaction volume, it is taking much longer for transactions to get mined into a block and then included in the blockchain. The new zero-confirmation pre-credited bitcoin deposits will ease these deposit delays, making it quicker. “Here’s how it works: we’re running every Bitcoin deposit on Gemini through a proprietary analysis to determine how likely it is to get confirmed, even if the network is clogged with other transactions. If your transaction passes our criteria (which may take a few minutes), […]
BitFury Group announced $30 million deal with Credit China Fintech
Blockchain infrastructure provider BitFury Group announced on Thursday a deal with Hong Kong-listed fintech company Credit China Fintech Holdings to set up a joint venture that will focus on promoting the technology in China. As part of the deal, Credit China Fintech will invest $30 million in BitFury shares and the setting up of the joint venture. The joint venture will be used to sell BitFury’s bitcoin mining equipment. BitFury Group provides hardware and software around blockchain technology and this will be its first major venture in China. Blockchain refers to the technology underlying the crypto-currency bitcoin and works like a huge, decentralized ledger that records every transaction made on […]
US needs to lead digital currency revolution, or other nations will
While the U.S. is consumed by understanding the Russian hacking into its presidential election, the other global power is claiming silent victory in a worldwide cryptocurrency competition. Currently, China is the biggest entity mining bitcoins, claiming 70 percent of all mining equipment globally. Computers, known as “miners”, solve complicated mathematical algorithms, provide hashing power, keep record of transactions and get awarded by a bitcoin. The miners are rewarded with bitcoins for solving challenging cryptographic problems that verify other bitcoin transactions worldwide. At the beginning of the blockchain revolution, bitcoin mining was easier; algorithms were less complicated. Over time, algorithms become more complicated and soon there will barely be any algorithms […]
Value of digital currency Bitcoin surges past $US1000
The value of Bitcoin has surged above $1000 as the digital unit continues a dizzying rise that made it the best-performing currency of 2016. Its value has more than doubled in the last year and it was trading at around $US1,024 in afternoon European trading yesterday, after breaking through the $US1000 mark on Sunday. It is now within reach of its historic high of more than $US1200 reached in 2013. Some analysts believe the rise in Bitcoin is due to some investors treating it as a safe-haven, like gold, at a time of global uncertainty. Others believe buying is being driven by speculative demand, with investors anticipating future rises and […]
China is behind the latest Bitcoin craze
Bitcoin had a great 2016. The cryptocurrency rallied 120% to $952, and is threatening to break the $1,000 mark for the first time. While Bitcoin has seen a consistent bid throughout the year, its 57% gain (in US dollar terms) over the past three months has been particularly impressive.So what’s behind the move? China. In his latest edition of “Greed & Fear,” CLSA’s Christopher Wood notes, “Daily turnover in Shanghai-based BTC China, the world’s largest bitcoin exchange by volume, has risen from around Rmb1bn in late September to a peak of Rmb27.8bn on 22 December and Rmb16.4bn on Wednesday (see Figure 11) while the Bitcoin price has risen by 70% […]
