Blockchain sends banking regulators back to basicshttp://www.livemint.com/Money/VMtnDHP1M4vGWvLhSczoWO/Blockchain-sends-banking-regulators-back-to-basics.htmlThe ‘fintech’ sector hoping to revolutionise finance with the adoption of blockchain, or distributed ledger technology, is forcing global financial regulators to start looking at whether they need to change the rules governing markets and banking.
Regulators are now asking whether the blockchain computing process, which underpins the digital currency bitcoin, will have an impact on how they protect consumers and keep the financial system stable if something goes wrong, the Reuters Financial Regulation Summit heard this week.
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Indians Can Soon Shop Online Using Bitcoinshttp://www.news18.com/news/tech/indians-can-soon-shop-online-using-bitcoins-1246709.htmlAs a wide section of Indians get used to paying bills and shopping online through internet banking or credit cards, here comes another mode of payment that has remained in the shadows so far. You can now pay your mobile or DTH bill through the digital currency, Bitcoin. Online shopping and utility bill payments via the virtual currency should be available soon.
"Users are increasingly using Zebpay to pay their mobile bills using bitcoins and to buy vouchers for online shopping. Last month, users paid bills of more than Rs 15 lakh using bitcoins. This number is doubling every month," Sandeep Goenka, co-founder of Bitcoin mobile app-based platform Zebpay, told IANS.
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Thanks for trying to explain but why is there so much difference in buy and sell rates?Exchange buy at lower rates and sell at higher rates
This spread is high because there aren't a lot of people trading. As the number of people and number of orders increase, this spread will come down. |
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Bitcoins Thrive, But Large Scale Adoption Elusive http://www.newindianexpress.com/business/news/Bitcoins-Thrive-But-Large-Scale-Adoption-Elusive/2016/05/22/article3444869.eceBitcoins. When an elusive computer programmer pseudo-named Satoshi Nakamoto first released the concept in 2008, they were hailed as the next big thing in financial evolution. Regulatory concerns, the complexity of the system and the overall potential for misuse, however, forced it to the background.
But the last few weeks have seen developments that suggest Bitcoins were never off the grid. But first, what are bitcoins? (See Box) The ‘cryptocurrency’ is merely a complex block of computer code. Transactions happen through exchanges where users have to register with KYC (Know Your Customer) details and PAN card numbers. Bitcoins are plain virtual currency, currently unregulated by any central bank and only kept secure by thousands of programmers who themselves work for Bitcoins.
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Swiss town to accept bitcoin paymentshttp://timesofindia.indiatimes.com/tech/tech-news/Swiss-town-to-accept-bitcoin-payments/articleshow/52228036.cmsA Swiss town that is billing itself as a hub for the digital currency industry will accept bitcoin for some payments starting this summer, in what proponents call a worldwide first by a government body and a sign that "crypto finance" is growing in legitimacy.
The town council in northern Zug last week approved plans to accept payments of up to 200 Swiss francs (about $200) for municipal registration fees starting July 1, in what Mayor Dolfi Mueller called Wednesday an "experiment" aimed at making the digitally-minded town a pioneer in finance. How this news is it related to india section?Is it just because it was published in Indian newspaper? A Reputed Indian Newspaper covering Bitcoin, no matter if it's related to India, is a big deal for Bitcoin.  sorry but he want to say that your post is not related to Indian country so why you posted it on india board? this board is for indian btc news and activity. but i think moderator should move this topic to other local board or bitcoin discussion.  If it is an article about Bitcoin that Indians read in their daily newspaper, it is worth discussing here. Most of the articles published about Bitcoin in Indian newspapers are generic and not particular to India as such. |
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Capgemini and ascribe ally to bring blockchain to financial services clientshttp://tech.firstpost.com/biztech/capgemini-and-ascribe-ally-to-bring-blockchain-to-financial-services-clients-314780.htmlCapgemini, the provider of consulting, technology and outsourcing services, has announced an alliance with ascribe GmbH to develop a blockchain database solution built on BigchainDB, for a rewards and loyalty system for consumer banking that tracks processed transactions in real-time. The blockchain database will enable banks to offer consumers the ability to combine loyalty points from various programs and use them in real-time for redemption.
As part of the alliance, Capgemini will bring together its financial services, consulting and digital technology expertise in BigchainDB to design and develop a loyalty and rewards system. The blockchain database solution will help banks to have flexibility on offering a robust reward system that is cost-efficient, and secure, while providing consumers the ability to use rewards across multiple merchants.
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Unocoin Launches Merchant PoS App for Bitcoin Acceptancehttp://indiatoday.intoday.in/story/unocoin-launches-merchant-pos-app-for-bitcoin-acceptance/1/666718.htmlAs Bitcoin has started to take a stand in India, Unocoin being Indias leading Bitcoin company, has been up to something that is going to make it much easier for physical and online stores in India to accept bitcoin. Before getting into that, it is important to note that India is on the verge of a tipping point on the digital movement.
One of the Co-Founders of Unocoin, Abhinand Kaseti, said, "Over the past year, our web traffic has increased by more than 500%! We added more than 6,000 users just last month alone, and our volume is skyrocketing. Thank you all for supporting us along the way."
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Swiss town to accept bitcoin paymentshttp://timesofindia.indiatimes.com/tech/tech-news/Swiss-town-to-accept-bitcoin-payments/articleshow/52228036.cmsA Swiss town that is billing itself as a hub for the digital currency industry will accept bitcoin for some payments starting this summer, in what proponents call a worldwide first by a government body and a sign that "crypto finance" is growing in legitimacy.
The town council in northern Zug last week approved plans to accept payments of up to 200 Swiss francs (about $200) for municipal registration fees starting July 1, in what Mayor Dolfi Mueller called Wednesday an "experiment" aimed at making the digitally-minded town a pioneer in finance.
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Bitcoin is not the answer to central bank worrieshttp://economictimes.indiatimes.com/news/international/business/bitcoin-is-not-the-answer-to-central-bank-worries/articleshow/52215383.cmsHere's a utopian image (or perhaps dystopian, depending on the point of view) to ponder: Central banks have switched from issuing money in the form of cash to releasing digital currency and registering transactions on a distributed ledger along the lines of the Bitcoin blockchain.
Because it doesn't require much of an upfront investment -- the clearance and transaction recording system is decentralised — the central bank is now able to do something it has never done, namely accept deposits from private citizens, providing an ultimate safe haven for their savings and making private banks, with their fractional reserves and the danger of runs, largely unnecessary.
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Blockchain knocks on doors of Indian bankshttp://www.livemint.com/Money/oyEfTCzUMHYUO8VyDxugYP/Blockchain-knocks-on-doors-of-Indian-banks.htmlLast week, Craig Steven Wright, an Australian entrepreneur and self-declared cyber security expert, revealed his identity as Satoshi Nakomoto, the inventor of Bitcoin alternative currency and blockchain technology. Though it is not clear if his claim is indeed true, the story has shifted at cyberspeed from bitcoins to blockchain technology.
You may have heard the word blockchain. And you will continue to hear it as the technology goes mainstream.
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Blockchain effect: Looking at future issueshttp://blogs.economictimes.indiatimes.com/et-citings/blockchain-effect-looking-at-future-issues/
If I’m going to send some money to somebody else, I have to go through an intermediary — a powerful bank, a credit card company — or I need a government to authenticate who I am and who you are. What if we could do that peer to peer? What if there was a protocol that enabled us to do transactions, to do commerce, to exchange money, without a powerful third party? This would be amazing. Several years ago, an unknown person or persons named Satoshi Nakamoto came up with the Bitcoin protocol. Once again, the technology genie has been unleashed from its bottle.
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Bitcoin’s troubleshttp://www.livemint.com/Opinion/wPkXxBxIxAeZ5DwfT2OH9O/Bitcoins-troubles.htmlIf a libertarian utopia were ever to come into being—the Internet can stake a fair claim to being the closest approximation so far—the bitcoin, or something very like it, would be its currency. But even utopia has its problems, as the recent flap over Satoshi Nakamoto, the pseudonym for bitcoin’s founder, showed.
Australian entrepreneur Craig Wright’s inability to substantiate his claim that he was Nakamoto showed the problems inherent in bitcoin. A digital cryptocurrency beholden to no government can be viable only if there is a natural cooperation among the digital community that enables it. After all, the link between trust and value that underpins all currency is closer to the surface here than for any conventional currency.
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Digital currency firm co-founder gets 20-year jailhttp://www.thehindu.com/news/international/digital-currency-firm-cofounder-gets-20year-jail/article8569814.ece The co-founder of Liberty Reserve, the operator of what had been a widely-used digital currency, was sentenced to 20 years in prison on Friday for conspiring to help cyber criminals launder hundreds of millions of dollars using its services.
Arthur Budovsky, 42, was sentenced by U.S. District Judge Denise Cote in Manhattan, who said a substantial punishment was warranted for his role in running a money laundering operation that prosecutors said was of unprecedented scope.
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De-jargoned: Blockchainhttp://www.livemint.com/Money/DcIk1lYSurSrbK6XlLydCK/Dejargoned-Blockchain.htmlBlockchain is a code—a digital ledger software code. A ledger is a collection of financial transactions which records the exchange between parties. It shows what comes in and to whom and what goes out and to whom. Blockchain collects all this information in digital form. It is a decentralised system that can be created and updated anywhere. As the name suggest, every block of data is connected to another block in a chain format. This technology can be used for record keeping in case of any transaction. Blockchain is believed to be relatively more secure, transparent and accountable technology than the existing one. This code can be used to build application that will allow you to keep a record of all transactions without the need of an intermediary.
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Who created bitcoins?http://www.business-standard.com/article/opinion/who-created-bitcoins-116050700892_1.html
The identity of the creator of bitcoins, the popular digital currency, remains a mystery. An Australian computer scientist, Craig White, recently claimed that he was the creator. But this claim has met with scepticism. The creator signed himself (or herself) "Satoshi Nakamoto" in a paper released in May 2008, where the concept of the crypto-currency was first outlined. Satoshi Nakamoto wanted a currency, which could not be controlled or tracked by governments or central banks. This had to be secured against fraud and forgery, while allowing users to be anonymous. In January 2009, the creator released a software programme, and then worked with software developers for about two years before withdrawing.
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Bitcoin Has Governance Problem, No Matter Who Created It: Expertshttp://profit.ndtv.com/news/forex/article-bitcoin-has-governance-problem-no-matter-who-created-it-experts-1403810As one would-be father of bitcoin falls by the wayside, squabbling among the web-based currency's lead developers is exposing a fundamental flaw: it must evolve to meet growing demand, but may lack a governance structure to achieve this.
The latest bickering erupted after Australian entrepreneur Craig Wright promised to prove he was the mysterious creator of bitcoin - which allows users to move money across the world quickly and anonymously - but then said on Thursday he could not provide further evidence to back this up.
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