Investment in financial-technology companies grew by 201% globally in 2014, according to a new report from Accenture. The consultancy firm named blockchain technology to be one of the keys that legacy
Friday, March 27, 2015
Blockchain Tech is the ‘Biggest Opportunity’ for Banks to Stay Relevant, Says New Report
Investment in financial-technology companies grew by 201% globally in 2014, according to a new report from Accenture. The consultancy firm named blockchain technology to be one of the keys that legacy
Paul Snow Rides 21 Miles on a Unicycle to Texas Bitcoin Conference
The second annual Texas Bitcoin Conference opened its doors in Austin on March 27 and will run through March 29, 2015. CoinTelegraph had the chance to speak with Paul Snow, the organizer of the event
Bitcoin Will Make 'Civil Asset Forfeiture' a Sad Joke (Op-Ed)
The Washington DC-based organization Cato recently announced some “good news:” that civil asset forfeiture – that is, state seizure of a person's home, car, and bank accounts – has been “abolished” in
MAR 27 DIGEST: Council on Foreign Relations Calls Bitcoin ‘Nuts’; PayPal fined $7.7 Million
The Bitcoin Investment Trust's parent company has launched their public investment platform Grayscale; PayPal fined US$7.7 million for allowing transactions to countries covered by the United States'
Barry Silbert Confirms Bitcoin Investment Trust Launch, World’s First Public BTC Fund
Barry Silbert’s Bitcoin Investment Trust, the eagerly awaited gateway to opening up Bitcoin investment to major markets, has gone live, beating out the Winklevoss twins’ Bitcoin ETF.
Bitcoin Shop Acquires Additional Equity in Coin Outlet; Interview with CEO, Charles Allen
On Thursday, March 26, 2014 Bitcoin Shop, Inc. announced that it has acquired an additional 2% equity ownership in Coin Outlet, reducing Coin Outlet CEO Eric Grill’s shares by 701,966 while increasing
7-Eleven Mexico Launches Virtual Currency 'Big Coins'
In a marketing effort, 7-Eleven Mexico announces the launch of its own virtual currency dubbed "Big Coins." The company is looking to retain customers and build its online presence by rewarding engage
Thursday, March 26, 2015
Neteller Adds Bitcoin Funding to Prepaid Mastercards
In a surprise move, e-wallet provider and payment processor Neteller quietly started to accept bitcoin deposits at zero fees. Neteller customers will now be able to top up their accounts by exchanging Bitcoin into one of the currencies offered by Neteller.
Neteller, owned and operated by publicly traded British global payments company Optimal Payments PLC, is used by millions of consumers in more than 200 countries and especially popular in the foreign exhange and online gambling sectors.
This announcement follows the entering into of an agreement between Optimal Payments and Bitcoin payment processor BitPay.
“We recognize the important role that cryptocurrencies play in the future of payments,” said Optimal Payments President and CEO Joel Leonoff, “and we look forward to working with BitPay as the acceptance rate grows.”
“Neteller has recognized the growing strategic importance of bitcoin,” notes the BitPay website, “and we will be working with them to help further drive mainstream adoption of bitcoin.” Sonny Singh, BitPay’s chief operating officer, added that the relationship with Optimal Payments will help BitPay to drive merchant acceptance on a global scale.
A few days ago, Optimal Payments announced the forthcoming acquisition of the biggest Neteller competitor Skrill (formerly Moneybookers.) It seems therefore likely that bitcoin deposit options may be added to Skrill as well in the coming months.
Neteller, which is listed as an “Authorised Electronic Money Institution” with the U.K. government’s Financial Conduct Authority (FCA), is headquartered in the Isle of Man, a leading Bitcoin hub poised to attract digital fintech businesses, entrepreneurs and developers. The recent announcement of new Bitcoin-friendly regulations in the Isle of Man may have contributed to Neteller reversing its previous choice to block digital currency activities.
Besides paying the merchants that accept Neteller payments directly from their accounts, Neteller users have a prepaid “Net+” MasterCard that can be recharged from the wallet and used to pay all merchants that accept MasterCard, and withdraw cash from ATMs.
Two features of Neteller bitcoin deposits seem especially important.
First, Neteller is accepted by nearly all online gambling operators. Therefore, nearly all online gambling operators are able to accept bitcoin payments via Neteller. Unfortunately for gamblers based in America, current U.S. regulations against online gambling prevent Neteller from offering the service to customers based in the United States.
“All serviced countries except the United States can deposit with Bitcoin,” notes the Neteller website.
Second, all Neteller users now can link a prepaid Net+ MasterCard to their Neteller accounts, with the option to deposit bitcoin to recharge the card. In other words, Bitcoin users are suddenly able to withdraw their funds from all ATMs that accept MasterCard (read: nearly all ATMs) and pay all merchants that accept MasterCard (read: nearly all merchants), online or at points of sale. Optimal Payments’ upcoming acquisition Skrill also is a provider of prepaid debit cards.
Prepaid debit cards that can be recharged with bitcoin deposits, and therefore permit bitcoin payments anywhere, are becoming commonplace. In Australia, the CoinJar Swipe card permits spending bitcoin at most merchants and withdrawing bitcoin as cash at most ATMs. In Germany, holders of a Fidor Bank “Smart Giro Account” can sell bitcoin to other account holders, have the money instantly credited to their account, and spend or withdraw their money with their Fidor credit card, which in practice is equivalent to a card that can be recharged with bitcoin.
With the acquisition of Skrill, Neteller will be the biggest competitor of leading payment processor PayPal, which has already begun experimenting with Bitcoin.
Designers Compete to Create Global Cryptocurrency Brand
Many people know the symbol of Bitcoin. Many people might know the symbol of Litecoin. Even fewer know the symbol of a Dogecoin. There are hundreds of cryptocurrencies that have been developed, but what’s the symbol for “cryptocurrency?”
Brand Me Crypto, a design contest sponsored by Vogogo and Cryptsy, is hoping that one concise brand can be created that will epitomize the true brand of cryptocurrency.
“I found myself and our designers struggling to visually articulate cryptocurrency as a whole without inundating our designs with 5+ more coins just to communicate the overarching cryptocurrency conversation and message,” said Chantel Meeley, head of marketing and creative at Vogogo.
But it wasn’t as simple as just hiring a design firm to come up with a few different concepts. It was important that Brand Me Crypto kept true to the culture that has sprung up from cryptocurrencies. As it says on its website, it needed to be “designed by the people, for the people.”
The two companies joined forces and launched the Brand Me Crypto initiative on October 28, 2014, inviting designers from around the world to submit their concepts. At the end of the contest, designers from 89 countries across five continents had submitted their ideas of what the brand should be.
The contest is now in its final stages. Five designs are being voted on from around the world. Anyone is eligible to vote on the design. More than 7,000 votes have been tallied, and voting ends on March 31, 2015 at 11:59 MDT.
The winner will receive $10,000 in USD or the cryptocurrency of their choosing as well as recognition on open creative licensing rights.
“I am excited to see that the final brand the world population selects and looking forward to having one visual identity that represents this new currency,” Meeley said.
Cast your vote today at brandmecrypto.com.
Europe Caps Payment Fees at 0.2% Undermining Bitcoin’s Appeal
The European Parliament has passed a deal to cap the fees at 0.2% that banks charge retailers to process payments in a move that could undermine one of bitcoin’s main competitive advantages in the EU.
MAR 26 DIGEST: Italy Debates State Access to Private Data, 60% of Funds Stolen from Cryptoine Exchange
Italy is set to debate a powerful new amendment to its anti-terror laws, which would allow authorities to obtain any digital data from any computer system. Cryptoine digital exchange closes after a ha
Britain and the US Compete to Foster New Payment Systems, Bitcoin
New regulation to be enacted in the UK could see Bitcoin exchanges and related services enjoy access to faster payments and considerably increase liquidity as the United States is also considering sim
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