Bitfinex ‘Bail-In’ – New Financial System Offers Laboratory For Handling Unexpected Losses

Matt Levine, a former investment banker and mergers and acquisitions lawyer, sees the Bitfinex “bail-in” as an early step in bitcoin’s attempt to address unexpected financial fallouts. Writing in his “Money Stuff” column for Bloomberg, he noted there will be more such crises to come, and he is hopeful bitcoin/blockchain will be able to come […]

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How Fintech Is Dragging Banks to Blockchain and AI

Fintech companies have now been provided with a great opportunity by the growing preference of millennials to accomplish tasks through digital applications. CEO of FIS, Anthony Jabbour, says the digitally native ways of millennials have given more insight into their needs and wants than any previous generation. FIS, the world’s largest global provider, dedicated to banking and […]

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Bank Of England’s RSCoin: A Hybrid Digital Currency To Improve Global Trade

RSCoin, a cryptocurrency controlled by the Bank of England for the purpose of strengthening the country’s economy and global trade, combines the benefits of distributed ledger technology with the control of traditional, centrally managed currencies, according to The Deal Room, a financial news website. RSCoin was developed by University College of London researchers at the […]

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Wirex Reports Customer Base Expansion Reaches New Highs in 18 Months

The bitcoin debit card provider, Wirex, issued 37,000 cards reaching a total of 160,000 users in July 2016, according to data released by the company. Formally known as E-Coin, the U.K.-based company has experienced phenomenal growth over the last 18 months with continuous monthly growth since its launch in January 2015. By serving over 130 […]

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Call Public Blockchain Developers What They Are: Open Source Coders Not Fiduciaries

Angela Walch, Associate Professor at St. Mary’s University School of Law, has written a thought provoking editorial where she argues that developers are in a position of trust, therefore, they must be burdened with responsibilities – including, perhaps, outright licensing requirements to ensure a certain standard. Although the professor has many good points, the open […]

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Survey: Male-Dominated Market; Bitcoin Users Lose Money to Hackers, Exchange Shutdowns

A survey by an Irish company has found that one in six bitcoin users worldwide lose money to hackers and exchange shutdowns. The study by the Bitcoin Marketing Team surveyed 770 digital currency users from 68 countries and found that thousands of euros worth of bitcoins are lost or stolen through hackers or with users […]

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Smart Lawyers Will Make Smart Contracts

Interests in smart contracts have grown lately especially with the formation of The DAO – Decentralized Autonomous Organization which is based on Ethereum. What Are Smart Contracts? They are computer applications in which contracts are written into computer code and perform or execute automatically. These applications are expected to run as programmed without any possibility […]

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Poll Suggests That Blockchain Technology Will Impact EU Payments by 2025

The European Payments Council (EPC) has found that 90 percent of respondents believe that the blockchain technology will have a significant impact on payments by 2025. The poll found that 36 percent believed that blockchain technology would have an influence in some niches of the payments activity; 30 percent thought the impact would focus on […]

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R3, 15 Consortium Members Complete Prototypes on Using Smart Contracts for Trade Finance

The R3 consortium has disclosed that it has worked with over 15 of its member banks to complete two distributed ledger technology prototypes. They demonstrate how the technology can address the key challenges facing the $45 billion global trade finance industry. R3 is a financial innovation firm that leads a consortium partnership with over 50 of […]

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Global Law Firm Launches Multidisciplinary Blockchain Practice

Steptoe & Johnson LLP, a global law firm, has launched a multidisciplinary blockchain practice to help blockchain companies and businesses that are affected by blockchain with the legal issues related to the technology, according to Forbes. The law firm defends companies under government investigation and has worked with blockchain organizations. Steptoe & Johnson is currently defending […]

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