Goldman Sachs Has Big Predictions for the Blockchain

Goldman Sachs is bullish about blockchain, the underlying distributed ledger technology that powers the cryptocurrency – Bitcoin. Leading investment banking firm Goldman Sachs has – in a research note sent to clients today – raved about the decentralized platform by stating that “the Blockchain, can change…well everything.” In a report by Business Insider, the bank sent its “Emerging Theme Radar” note to clients on Wednesday. The note, titled ‘Themes, Dreams and Flying Machines’ has deemed that the blockchain is “taking center stage” these days, noting that it is pulling …

Bitcoin Price Support May Be Temporary

The bitcoin price decline halted at the BTCC 4-hour 200-period moving average. The market has spent most of the day milling around this area in the chart and, unless there is a surprise development, seems destined to resume decline. This analysis is provided by xbt.social with a 3-hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29. Bitcoin Price Analysis Time of analysis: 13h00 UTC BTCC 4-Hour Chart From the analysis pages of xbt.social, earlier today: The …

Goldman Sachs Files Patent For Securities Settlement With Cryptocurrency

Goldman Sachs has filed a patent application for a cryptographic currency called SETL Coin to be used for securities settlement. The application, which signifies the New York-based global bank’s growing interest in cryptocurrency, has been filed with the U.S. Patent & Trade Mark office. Paul Walker and Phil J. Venables, both of New York, N.Y., are listed as the inventors. The technology provides a virtual, multi-asset wallet for a traditional cash and securities account for an investor or trader. The technology facilitates transactions between non-virtual wallets and …

‘Glomads’ Marriage Marks First Official Act Of Estonia E-Residency/Bitnation

A marriage between two self-described “glomads” Tuesday marked the first official act by the new Estonia e-residency/Bitnation partnership. The marriage, for better or for worse, of Edurne Lolnaz and Mayel de Borniol will not be recorded anyplace else other than on the block chain. Bitnation recently agreed to extend its notarization services to Estonia’s e-residency program. The wedding was held Dec. 1 at 3 p.m. GMT. A party is planned for June 18, 2016 on the Island of Santorini, Greece, and there is an invitation form on the couple’s …

SEC Charges Josh Garza with Securities Fraud, Alleges Bitcoin Ponzi Scheme

The United States Securities and Exchange Commission (SEC) has today charged Homero Josh Garza, founder of GAW Miners and ZenMiner with securities fraud and conducting a Ponzi scheme. According to a press release by the SEC, Garza is alleged by the SEC to carry out the fraud through his two Connecticut-based companies GAW Miners and ZenMiner by falsely claiming to produce bitcoin hashing power that GAW did not own. The complaint was filed in the U.S. District Court for the District of Connecticut today. An excerpt from the SEC …

Bitcoin Trading: Frustrated Sell-Off

Bitcoin trading saw the bulls make a second unsuccessful attempt on the $380 and 2480 CNY level today. Frustrated, the market sold off to support at $355 and 2300 CNY. This analysis is provided by xbt.social with a 3-hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29. Bitcoin Trading and Price Analysis Time of analysis: 14h30 UTC Bitstamp 1-Hour Chart From the analysis pages of xbt.social, earlier today: Price was sold off and found support at …

Telecom/BitPesa Legal Tangle Over AML Threatens Mobile Payments In Kenya

As mobile payments and cryptocurrency have made strides providing an alternative to traditional banking in Kenya, legal conflicts have emerged among mobile currency providers and Safaricom, the nation’s dominant telecom service. Kenyan legal authorities may need to clarify how anti-money laundering/know your customer (AML/KYC) and other regulations will be enforced and who will enforce them.   BitPesa, a bitcoin payments and remittance service which uses the Safaricom telecom, and Lipisha, the payment gateway for both BitPesa and M-Pesa, are suing Safaricom in Kenya, according to International Business Times. Safaricom stopped …

Smartphone Habits Can Determine Credit Worthiness In Developing World

According to a report (paywall) by the Wall Street Journal, tech start-ups are revolutionizing the lending industry by finding alternative ways to judge someone’s credit worthiness in the case of people who’ve never had a loan, credit card, or other revolving credit accounts. Instead of looking at payment histories that don’t exist, the start-ups take a look at the user’s cell phone habits. An app is installed on the potential borrowers phone and then authorized to collect all sorts of data from it. Branch is one of the companies involved …

Economists Suggest Central Bank of Barbados to Hold Bitcoin Reserve

  A new working paper titled “Should Cryptocurrencies Be Included in the Portfolio of International Reserves Held by the Central Bank of Barbados” suggests the Barbadian Central Bank to hold a small portion of Bitcoin as a part of its foreign currency reserves. The paper is authored by two economists – Winston Moore and Jeremy Stephen who previous worked at the Central Bank of Barbados and currently lecture at the University of West Indies. The complete working paper can be read or downloaded here. [PDF] The paper notes that Barbados …

Bitnation To Provide Block Chain Notary Services To Estonia’s E-Residency Program

Bitnation, a governance service that provides block chain IDs and bitcoin debit cards to refugees, has teamed with the government of Estonia to provide public notary services on the block chain, according to the International Business Times. Beginning in December, people utilizing Estonia’s e-residency program will be able to notarize marriages, contracts, birth certificates and more on the block chain. Estonia’s e-residency program allows anyone to use its online identity service, regardless where they live. The partnership could extend Bitnation’s role as a sovereign entity whereby open source protocol provides …