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bitcoin and its possible impact on insurance

...hout having to spend too much money or wait too long for a reply. International financial transactions have also become more straightforward and hassle-free. One of the significant technological strides in the financial sector is the invention of bitcoin. **bitcoin is a new type of currency which can be used in financial transactions without the need for a middleman** (usually banks). bitcoin w...

Path: Blog
bitcoin Mining Faces Rumors in China

Major bitcoin mining companies in **China** were shocked by the news about power cancelation. Rumors claimed that the power companies are up to cutting off electrical supply of the mining rigs. However, soon after this report was promulgated, the information changed drastically. Sichuan Electric Power company published an article where **bitcoin mining** was indicated as an illegal activity a...

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Is Accepting bitcoin a Reasonable Choice for Banks?

The buzz around the **cryptocurrencies** remains and we understand the mixed feeling about it. Many people still think it is just a bubble, whereas others believe that **bitcoin** is the new fiat. Unfortunately, nobody can predict all perspectives for sure and all we have is a forecast and assumptions. The rapid growth of the bitcoin rate and dozens of successful ICOs made many entrepreneurs...

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Tierion: Utilizing the bitcoin Blockchain to Verify Documents

**What Is Tierion?** The Tierion project utilizes **bitcoin’s blockchain to verify documents.** The platform accomplishes this task through a process known as anchoring. Anchoring links documents to exact blocks in bitcoin’s blockchain. The anchored documents are then verifiable at any time without the need of a trusted third-party. Let’s take a moment to examine this unique platform an...

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Lolli: how legit is the customer loyalty program that rewards users in bitcoin

...ine. Even better, imagine getting paid in cryptocurrency while shopping online. Sound good? A new customer rewards platform called Lolli thinks so and is paving the way for a new cryptocurrency cashback model. Or perhaps it should be coined the new bitcoinback model? Either way, users of the service will receive rewards in bitcoin when shopping at one of Lolli’s participating online retailers. ...

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The government of Zimbabwe is willing to treat bitcoin same way Switzerland does

Recently **Mthuli Ncube, the new minister of Finance in the Republic of Zimbabwe has stated that it is in the country’s interest to enforce bitcoin at a national level**,similar to the way Switzerland does. Referring to the Swiss central bank’s “investment and understanding” in bitcoin, the financial minister said he will communicate with the Reserve Bank of Zimbabwe (RBZ) to follow t...

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bitcoin and other cryptocurrencies: time to regulate

In the financial space, anything unregulated and unregistered would cause doubts and uneasiness. In the case of cryptocurrencies, such as bitcoin, financial regulators all over the world have started to find ways to oversee the blockchain, or the record of all cryptocurrency transactions, as well as to address the irregularities presented by these virtual currencies that mostly bypass financial f...

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bitcoin and cryptocurrency litigation

...addition of shops that credit virtual currency as payment. ***Top Cryptocurrencies*** Websites such as CoinMarketCap track cryptocurrencies that are hitting the market and show their current value in dollars. Among the top cryptocurrencies are bitcoin, Ethereum, and Litecoin. * ***bitcoin (BTC).*** It remains to be the most popular form of cryptocurrencies. bitcoin price is at $6,573.69 p...

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“To trade or not to trade?” or How Chinese Exchanges Overcome the bitcoin Ban?

*It is a wide-known fact that China had banned bitcoin exchanges. The reason for this ban is the government’s statement that frauds and money laundering took place on the exchanges.* Before these bans, China had a trustworthy role as one of the biggest **cryptocurrency** trading markets. At the same time, this country is ahead with the mining business and became, actually, one of the cente...

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Recovering Trust in Digital Currency

...he size and structure of the country’s economy, for any government in the world this scenario could be hardly achievable. However, not for cryptocurrencies. On June 12, several exchanges including Coinbase and Bitfinex registered a 200% rise in bitcoin price that hit an all-time high of $2,983,55, according to BNC Index. The combined market cap of all cryptocurrencies, including also Litecoin...

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Bitmain's IPO: looming threats and insights from a Bear market

When bitcoin mining and ASIC miner-producing juggernaut **Bitmain** released its IPO prospectus to the Stock Exchange of Hong Kong in September 2018, the world got to take a peek at some wild growth rates in the cryptocurrency industry not purely linked to astronomical gains from market speculation. The most impressive component is the leap from Bitmain’s 2016 revenue ($278M) and profit ($11...

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Cryptocurrency: what are your options?

...e addition of shops that credit virtual currency as payment. **Top Cryptocurrencies** Websites such as CoinMarketCap track cryptocurrencies that are hitting the market and show their current value in dollars. Among the top cryptocurrencies are bitcoin, Ethereum, and Litecoin. * -bitcoin (BTC). It remains to be the most popular form of cryptocurrencies. bitcoin price is at $6,573.69 per c...

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Polymath CEO Trevor Koverko on smart investing, secret societies, and security tokens

...CoinCental’s Christina Comben squeezed a few minutes of Trevor’s time at the World Blockchain Forum in London, and here’s what we found out. **He Makes Smart Investment Choices** Active in crypto since the early days and buying his first bitcoin on eBay, Trevor is famous for investing in early ICOs, including MasterCoin, Ethereum, ShapeShift, and EOS. Before that, he was in Silicon Val...

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Decentralized Internet – affordable resources and privacy on the web

...Finally, the Filecoin project developed by Protocol Labs represents another popular choice. ***Decentralized Internet – Concluding Thoughts*** To some extent, decentralization resides in the eye of the beholder. The blockchain network for bitcoin is decentralized in terms of the consensus algorithm. But given the cost of hardware resources and electricity, wealth is required to mine it....

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How blockchain will combat bias in news reporting

... centralized, ad-funded news, decentralized news outlets are not subject to advertiser bias. By handing control of news promotion and censorship to a decentralized blockchain community, Civil and DNN secure the news itself. In much the same way that bitcoin and other blockchains are vulnerable to a potential 51% attack, the decentralized news would need 51% of its network to agree to promote “ba...

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5 signs of booming blockchain innovation in Australia

...The Australian Securities Exchange (ASX) already been listing cryptocurrency exchanges and blockchain companies since 2014, but they’re actually migrating their entire infrastructure to blockchain by 2020. We’re not just talking about listing bitcoin or other digital assets here. The country’s main stock exchange will embrace blockchain technology entirely. The plan is to implement a post...

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Why cryptocurrency is the future of electronic cash systems

In this article, we’ll look at why cryptocurrency is the future of electronic cash systems. Why it should become the most widely-used type of payment–and how this could impact the future of the global economy. We’ll also discuss why the bitcoin dip and other market factors present both challenges and opportunities. **Consumer Benefits of Cryptocurrency** Since the beginning of the 21...

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Hedge fund billionaire joined crypto market

...pto market.** Cohen through his venture capital firm, Cohen Private Ventures, made a significant investment in cryptocurrency-focused hedge fund Autonomous Partners, as was stated in the Fortune [article](http://fortune.com/2018/07/12/steven-cohens-bitcoin-crypto-autonomous-partners/){._blank} published on the 12th July. The amount of the investment is not revealed yet. Arianna Simpson, a vent...

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A raising trend of investment scams in Australia

... that current level of fraud schemes, associated with cryptocurrencies, is alarming. Early this year, Consumer Affairs Victoria, a business unit of the Department of Justice & Regulation, within the Victorian government, announced its concerns about bitcoin scams. The above-mentioned regulator received reports of people being deceived through fake cryptocurrency websites. Recently in Australia...

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Virtual Currencies’ Control in Singapore

...cies. Singapore took up an interesting position: this jurisdiction accepts innovations and helps them to develop, and at the same time makes sure that illegal actions using these innovations are limited and reversed. Furthermore, controlling **bitcoin** currency transactions is not an easy task. The **Monetary Authority of Singapore** chose quite a challenge by stating their obligation to co...

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How Brokers in China Feel After the Website Blocks

We have already informed you regarding the latest **Chinese website restrictions** that occurred due to lack of information towards the financial regulator. Soon after the government **banned bitcoin and other cryptocurrency exchanges**, followed by the bans of other trade platforms. It affected all FX and trading platforms without ICP certificates. Trading community stated that the access to...

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Japan Virtual Currency Exchange Provider’s License

...ncy of the Payment Services Act. There are two types of Virtual Currency that are described and regulated by the mentioned Act. In short, they are: A currency that has financial value and can be used to pay for goods and services (for example: bitcoin, Litecoin, Ether etc.); A currency that can be exchanged with the virtual currency that falls under the first description. That said, a...

Path: Licensing