Latest posts of: polynesia

Blockchain: a game changer for market?

http://economictimes.indiatimes.com/markets/stocks/news/blockchain-a-game-changer-for-market/articleshow/52645664.cms

Wall Street is excited about Blockchain. Nasdaq CEO Bob Greifeld has said his company needs to be a "rapid applier" of the technology. Autonomous Research has called the technology a "game changer". Goldman Sachs has said the use of Blockchain technology in stock trading could result in $6 billion in industry cost savings globally.

There's no shortage of hype, but widespread implementation is still a long way away in the highly regulated financial services industry.

While the rest of Wall Street watches, the Australia Securities Exchange (ASX) is pioneering the attempt to implement blockchain technology in a large scale market. The exchange is looking at replacing its clearing system with a blockchain solution, and will make a decision on whether to go through with the change by mid-2017.

There's more to Blockchain than just Bitcoin buzz

http://economictimes.indiatimes.com/tech/internet/theres-more-to-blockchain-than-just-bitcoin-buzz/articleshow/52632733.cms

In May 2008, someone using the nom de guerre of Satoshi Nakamoto published an innocuous paper titled "Bitcoin: A peer-topeer electronic cash system". Every couple of years or so, someone discovers or claims to be 'the' Satoshi. Almost as mysterious as Satoshi was his creation, Bitcoin. Hailed as the first truly digital currency , which did not require a central mint or bank, and which could cross borders and wallets instantly, Bitcoin got a bad name when the 'dark Net' populated by drug and weapons dealers discovered its many uses.

The conversation today is not about Bitcoin though; it is about the underlying technology which powers Bitcoin, called the Blockchain. Experts have opined that by 2025, 20% of the worlds' GDP will rest on Blockchain based applications! Every bank and financial institution worth its salt

Quote from: zimmah on June 04, 2016, 03:56:02 PM

Quote from: coinsplz777 on June 04, 2016, 02:38:43 PM

Quote from: DeathAngel on June 04, 2016, 02:30:55 PM

We'll reach the 10 billion market cap but I'm not sure when, probably after the halving. Surely we can't reach 700 before?

that was for 2014, right now we need BTC @ us$645 to reach 10B market cap, that will for sure happen any time now( next week!).

highest market cap ever reached was $13.9 billion

we're getting petty close to crush that.

We would need a 50% appreciation to reach that level.
I wouldn't call that pretty close.

I do believe that we will eventually get there..

Quote from: sarfy on May 31, 2016, 10:31:39 AM

Will Bitcoin be ever accepted as a currency in India (I mean like in stores and all that) ?

It will take time. I think Bitcoin will have to succeed as an online currency, before stores start thinking of accepting Bitcoin.
If your question pertains to something like the image below, it will take a long time.

Infosys’ Finacle plans to sign up for blockchain

http://timesofindia.indiatimes.com/business/Infosys-Finacle-plans-to-sign-up-for-blockchain/articleshow/52562461.cms

Infosys' EdgeVerve Systems on Thursday said that it is in initial talks with banks for adopting of blockchain technology — a private ledger model of the more publicised bitcoin .

Banking regulators in India, US and Europe have started taking a closer look at adoption of blockchain for banking purposes. This December, Reserve Bank of India put out a report that "with its potential to fight counterfeiting, the 'blockchain' is likely to bring about a major transformation in the functioning of financial markets, collateral identification (land records for instance) and payments system."

Institutional investors see blockchain potential, yet to commit: Survey

http://economictimes.indiatimes.com/small-biz/startups/institutional-investors-see-blockchain-potential-yet-to-commit-survey/articleshow/52532660.cms

Most investment institutions still haven't taken concrete steps to better incorporate "blockchain" technology in their operations, according to a survey from State Street and Oxford Economics.

Blockchain, or distributed ledger technology, creates a shared database in which participants can trace every transaction. Its proponents say it has the potential to shake up how financial markets operate.

EU's market watchdog to take deeper look at blockchain

http://economictimes.indiatimes.com/small-biz/security-tech/technology/eus-market-watchdog-to-take-deeper-look-at-blockchain/articleshow/52566307.cms

The European Union's markets watchdog will study blockchain in more depth after an initial analysis showed it was too early to say whether the technology poses any threat to financial markets.

Blockchain, or distributed ledger technology (DLT), currently underpins the virtual currency bitcoin.

Blockchain's proponents say it has the potential to "disrupt" financial markets by making payments and the settling of securities transactions, in particular, far cheaper.

Mt. Gox creditors seek trillions where there are only millions

http://economictimes.indiatimes.com/news/international/business/mt-gox-creditors-seek-trillions-where-there-are-only-millions/articleshow/52458976.cms

$2,411,412,137,427. That figure — $2.4 trillion for those with an untrained eye for very large numbers — is in the same ballpark as the annual economic output of France.

It is also exactly the amount that people around the world claim they lost when Mt. Gox , the Tokyo-based virtual currency exchange , collapsed into bankruptcy in 2014, after huge, unexplained losses of the volatile digital currency bitcoin.

Australia to auction over 24k confiscated bitcoins worth $11.5 million

http://timesofindia.indiatimes.com/tech/tech-news/Australia-to-auction-24518-confiscated-bitcoins-11-5-million/articleshow/52508370.cms

Around $11.49 million worth of confiscated bitcoins will be auctioned in Sydney next month, the first such auction outside the United States, as demand for the digital currency surged to its highest in nearly two years.

The sale will take place on June 20-21 and involve 24,518 coins, said auction organiser financial services group Ernst and Young on Monday.

ICICI Bank: Retaining its digital edge

http://www.livemint.com/Industry/VgJeA9DBV3itnXOwUIsuoO/ICICI-Bank-Retaining-its-digital-edge.html

Digital future

The bank is now focusing on using blockchain systems to make banking more robust for its customers. Blockchain, as Kochhar explained, acts as an open ledger and reduces the duplication of access to data or checking of data, which various parts of the ecosystem will need to do. The other benefits are scalability and lower cost.

“For example, it is not just limited to the banking part, if you look at trade or exports and imports. Can we start linking right from the point where exports are made and the export certificates are received and then against that the banks give a confirmation and another set of banks give funding? The ports give the confirmation of the physical goods having moved. Having that whole thing sit on an open ledger helps make things that much more transparent and therefore reduces fraud; it reduces mistakes of data entry and two banks giving different information,” Kochhar said.

She has a valid point. Blockchain holds the potential for all participants in a business network to share a system of record. This replicated, shared ledger will provide consensus, provenance, immutability and finality around the transfer of assets within business networks—reducing costs, complexity and time, underpinning shared, trusted processes, enabling trusted record-keeping and improving discoverability, according to a January Finextra whitepaper by International Business Machines Corp. (IBM).

Bitcoin hits two-year high as yuan worries drive Chinese demand

http://economictimes.indiatimes.com/news/international/business/bitcoin-hits-two-year-high-as-yuan-worries-drive-chinese-demand/articleshow/52526675.cms

The price of the web-based digital currency bitcoin soared to its highest in almost two years on Tuesday, rising to more than $500 per unit, as worries about a further weakening of the yuan drove increased demand from China .

Trading volumes on the Chinese bitcoin exchange BTCC surged to three to five times their daily average since Friday, according to CEO Bobby Lee , as Chinese savers have moved to protect their money against a further devaluation of the yuan

Quote from: Josef27 on May 27, 2016, 12:29:34 AM

I like to see stuff like this .. It's like a drum beat that slowly getting louder, and louder.. progress

Yes... Ecommerce was the buzz word till a few years ago.
Now you hear a lot more about Bitcoin and blockchain.

Will Blockchain be the most significant tech innovation since the Internet?

http://tech.firstpost.com/biztech/will-blockchain-be-most-significant-tech-innovation-since-the-internet-317145.html

Nearly two-thirds (60 percent) of global financial services retailers who have some understanding of blockchain believe it will prove to be the most significant technological development since the internet, according to research undertaken by Marketforce. The study was conducted on behalf of business applications provider Pegasystems Inc. and Cognizant, a provider of information technology, consulting, and business process outsourcing services.

The study surveyed 500 financial services and insurance industry executives across 56 countries to examine the challenges and opportunities they face in a time of rapid technological change. It highlighted the fact that although the overwhelming majority of those who had an understanding of blockchain see it as a potential game-changer across the global financial services landscape, there are still a significant number of organizations who risk being left behind as a result of their own lack of knowledge or understanding. Indeed, more than one-third (35 percent) of all global respondents admitted they have never heard of blockchain while of those who had, nearly a quarter (23 percent) said they had no understanding of the technology.

Quote from: dashingriddler on May 26, 2016, 04:56:33 AM

Livemint is pure indian publication ?

Yes. It is very popular amongst people in the financial sector.
It was initially launched in collaboration with WSJ.
You should buy a copy and check it out.

Japan regulates virtual currency after Bitcoin scandal

http://www.business-standard.com/article/pti-stories/japan-regulates-virtual-currency-after-bitcoin-scandal-116052600929_1.html

Japan has passed a law regulating virtual currency, after the country found itself at the epicentre of a multi-million dollar embezzlement scandal following the spectacular collapse of the Tokyo-based MtGox Bitcoin exchange.

Once one of the largest, most established exchanges for the cryptocurrency, MtGox collapsed in 2014 after a suspected theft worth nearly half a billion dollars, which hammered the digital currency's reputation.

Quote from: btvGainer on May 24, 2016, 10:25:49 PM

Good news and very exciting.But unless we also get paid In bitcoin or there is jobs that pay in bitcoin,why would someone use bitcoin to shop online when he can use credit card or far better COD option?Who would take all the pain of first buying bitcoin to pay for shopping when he can use fiat for that?

Credit cards may appear free to the user, but there is a transaction charge of 2-3% which the merchant pays. Eventually, you can expect this saving to be passed on to the customer when bitcoins are used.