Archives for March 2015

United Kingdom: The unanimous financial technology capital of Europe

If only bitcoin happened to be a mortal, it would have been totally bruised and battered after all the fights and controversies it has gone through. Fortunately, it’s continuing to fight its way up, despite negative views from those who don’t totally understand what it really is. If there’s one safe haven where the bitcoin can soothe all the pains and scars, it would be the UK.

 

Surprised? Well, I honestly can’t blame you. Initially, the Bank of England (BOE) was adamant and critical onto how bitcoin can presumably affect the economy of the country. Now, BOE is one of the firm supporters of digital currency and is just one of those who believe that it can revolutionize the existing banking methods and payment systems.

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Former JP Morgan Chase & Co. executive’s entry in the digital currency trade means more help for the ailing bitcoin

Just when most people thought that it’s about to succumb to scandals and controversies, bitcoin has again tried clawing itself on top. Remarkably, the first quarter of the year 2015 marks several developments that are really helpful for the ailing virtual currency. Worth mentioning are as follows:

Coinbase, a bitcoin wallet service provider, got an investment from the New York Stock Exchange.

TeraExchange became the first publicly-listed company that deals with bitcoins.

The Bitcoin Investment Trust of the Digital Currency Group likewise earned regulatory approval and became the first publicly-traded bitcoin fund.

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Earn bitcoins from a reptilian alien invasion iOS game

There’s nothing even better than playing an iOS game and earning bitcoins at the same time.

 

Only last March 1, 2015, Tigara Games launched Uranus Attacks! which is its first ever iOS app. The game was developed by Amer Qureshi who for six months also worked on integrating it to the Coinbase application programming interface. This is primarily aimed to reward players, who are able to refer the game to other users, with a small fraction of the bitcoin. The amount of the reward, which is equivalent to around $0.05, is given out in Coinbase wallets.

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Digital currency as a new norm for banking

Last February 25, 2015, the One Bank Research Agenda was launched by the Bank of England (BOE) with aims of determining the effects of monetary policies to current issues like climate change, life spans, and globalization. It highlighted the benefits of digital currencies and also discussed the possibility of creating a BOE-backed cryptocurrency.  Furthermore, it talked about the likelihood of digital currencies becoming the new norm for banking.

 

A new norm for banking

 

The Agenda believes that mobile technology will likely grow more and that it’s the discretion of interested banks to investigate how digital currencies are going to influence the traditional ways of banking. It’s a fact that changes like these would entail technological, regulatory, and economic challenges, thus banks should be prepared to address all of them.

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