Welcome to our weekly Bitcoin news recap, where we cover top headlines and stories in the world of Bitcoin each week. This was a big week with DevCore London happening, as shown below in a picture by Blockchain Product Lead, Keonne Rodriguez posted to Twitter. As part of DevCore London, FinTech in the UK is taking center stage. Also in the news this week, BitPay shared an analysis that provided a great overview of the Bitcoin space. The news this week was nothing short of positive.
— Keonne Rodriguez (@keonne) April 15, 2015
London, center of the $5-trillion-a-day global currency market, now wants to be home to a controversial upstart – Bitcoin. British authorities have come out in support of digital currencies in the name of promoting financial innovation, while proposing that regulations should be drawn up to prevent their use in crime.
UK Chancellor George Osborne said he wants the UK to become the global center of FinTech. And he clearly envisions digital cash systems – of which bitcoin is the first and most famous example – playing big part in the future of finance.
Abigail Scarlett is a London-based photographer who believes that Bitcoin is the future. Her belief is so strong, in fact, that she’s willing to put her digital currency where her mouth is. For the next half year, Scarlett will only be accepting photo work that is paid in Bitcoin.
Kentucky Senator and Republican presidential candidate Rand Paul is set to appear at a digital currency-focused event in New York City this weekend. To be held on 19th April at the private venue Union League Club.
The MIT Media Lab announced the launch of the Digital Currency Initiative. The goal of this initiative is to bring together global experts in areas ranging from cryptography, to economics, to privacy, to distributed systems, to take on this important new area of research.
Billed as “The Future of Payments, Innovation, Disruption, Collaboration,” Cards and Payments, Asia 2015 will give payment professionals a chance to hear different perspectives on Bitcoin and digital currency. The conference will be held April 22 and 23 at the Suntec Convention Centre, Singapore.[Bitcoin use switching from investment commodity to everyday currency, new data reveals](http://www.ibtimes.co.uk/bitcoin-use-switches-investment-commodity-everyday-currency-new-data-reveals-1496316)
Bitcoin has significantly shifted away from being a commodity traded by investors and towards being used as an actual currency used to pay for goods and services, according to new industry data. Leading Bitcoin payments processor BitPay has shared its latest research exclusively with IBTimes UK, revealing that the total number of bitcoin transactions more than doubled last year as a result of this shift.
The point is, currency for hundreds of years has been an evolving form of technology, with the faster, better, cheaper underpinnings found in all great technologies. But arguably, not since the arrival of the greenback has currency been poised for a more dramatic leap forward. Digital currency is finally taking hold.
Digital currency is often defined by its volatile hype cycle. And yet its most promising feature is incredibly mundane-sounding: a bookkeeping system called “the blockchain”. So what the heck is it?
Charities are often open to all sorts of donations, whether in money or in kind. Now they’re turning to a new source: donations of bitcoin. Among the charities soliciting donations from Bitcoin users are Save the Children, an aid agency that receives hundreds of millions of dollars in donations every year, American Red Cross and Greenpeace.
Samsung Electronics has teamed up with IBM to develop a new application using blockchain technology which is the basis for the digital currency Bitcoin. The announcement comes closely after the Silicon Valley subsidiary Samsung Research America of the Suwon-based mobile phone maker Samsung Electronics announced on April 10 that it will “develop a new online transaction verification technology through application of the Bitcoin’s blockchain technology.”
A New York-based broker-dealer has announced that it is open for business in trading blocks of bitcoin, marking what it says is a significant step in the “institutionalization” of the digital currency. Genesis Trading, a division of SecondMarket, claims to be the only fully-licensed broker-dealer specializing in bitcoin.
Indian multinational Infosys is considering implementing a usage of the Bitcoin blockchain into its core suite of banking software, Finacle. The move is part of a revitalization strategy which has seen Infosys CEO Vishal Sikka task Senior Vice President & Global Head Michael Reh with a reorganization of approach for the suite.
European Dutch insurer is now accepting Bitcoins. The company, CoverYou Insurance based in Deventer, the Netherlands, is making it possible to use the digital currency to pay premiums for insurance coverages for smartphones, tablets and laptops.
Designed for young professionals, Lawnmower takes a few cents here and there, and invests them into Bitcoin. To help today’s young build up their wealth, a new breed of no or low-fee financial tools built on top of slickly designed smartphone apps are trying to gain a foothold.