Welcome to our weekly bitcoin news recap, where we cover top headlines and stories in the world of bitcoin each week.
This week the news brings us to Necker Island, the private island of entrepreneur and Blockchain investor, Richard Branson. On his blog, Branson recounts the positive outcomes of a work environment rich in “disruption, excitement and teamwork.” Also this week, Blockchain co-founder Nic Cary spoke at FinTechStorm 2015, and the final version of the New York BitLicense was released creating some uproar in the Bitcoin community.
— Ivan Soto-Wright (@isotowright) June 1, 2015
Necker Island has long been a place where brilliant business ideas are dreamed up by inspiring entrepreneurs. But for the first time, a high-tech product has been conceived, developed and launched – all on the island.
BitLicense is the first comprehensive framework for regulating digital currency firms within the United States. Read about the final proposed legislation and also the reaction of a major New York bitcoin broker and exchange CEO’s thoughts on the matter.
California’s State Assembly has approved a bill calling for digital currency companies to be regulated in a similar way to banks. Formulated by Assemblyman Matt Dababneh, chairman of California’s Banking and Finance Committee, bill AB-1326 was approved following a 55-22 vote in favor.
M.I.T. Media Lab director Joi Ito explained during a recent Reddit AMA how best to prevent governments from meddling too much with digital currencies.
The media is covering it. Universities are studying it. The government is seeking to regulate it. And entrepreneurs are embracing it. Business owners throughout the country have begun to accept bitcoin as the currency of the future.
Intercontinental Exchange (ICE) CEO and New York Stock Exchange (NYSE) chairman Jeffrey Sprecher has come out in support of bitcoin and the blockchain, voicing his belief that the technologies are part of a larger change in how trust is being established in society.
Blythe Masters, CEO of Digital Asset Holdings speaks on the significance of the blockchain in Financial Industries at Singularity University’s Exponential Finance 2015.
Mexico-based airlines TAR Aerolineas has become the first in Latin America to accept bitcoin payments. The airliner will accept payments in the digital currency following a partnership between Openpay – a Mexico-based payment service provider – and payment processor BitPay.
Cubits recently entered a partnership with the non-profit fundraising firm Wikando, thereby enabling world’s biggest charities to receive donations in the digital currency Bitcoin. The London-based cryptocurrency startup, which currently offers services related to buying, selling spring and accepting of Bitcoins, will also be providing the same multi-purpose facilities to Wikando.
Moving forward, Bitcoin providers should engage more with the Indonesian government to help regulators gain a deeper understanding of Bitcoin. Although bitcoin is still not considered as legal tender in Indonesia, usage continues among Bitcoin proponents. Bitdoku founder, Tiyo Triyanto, pointed out that bitcoin transactions continue to rise from year to year.
A new consumer remittance startup is on the block, and it’s bringing Bitcoin to new corridors in Europe, China and Mexico. Freshly out of private beta, Moneytis has now opened its beta to the public. The service allows users to send international transfers from their bank accounts to the receiver’s for a fee of two percent or less. The startup uses bitcoin to send the money to its destination.
Mirror has secured $8.8m in Series A financing to reposition itself as a smart contract trading platform built on bitcoin’s blockchain. Led by Ripple Labs investor Route 66 Ventures, the round also included Battery Ventures, Crosslink Capital, RRE Ventures and Tim Draper. As part of the deal, Route 66 venture partner Pascal Bouvier will join Mirror’s board of directors.[Apple Approves New ‘Game of Birds’ App with Bitcoin Tipping](http://cointelegraph.com/news/114444/apple-approves-new-game-of-birds-app-with-bitcoin-tipping)
Bitcoin is increasing its presence in the App Store, with Apple approving a second Bitcoin tipping-enabled app by the same developer. The app, Game of Birds, incorporates a Bitcoin tipping function for players to receive in-game rewards.
Bitfinex has become the first major bitcoin exchange to offer on-blockchain transactions. Typically, exchanges work off-chain, meaning that user balances are settled within a central database. Bitfinex’s bid for greater transparency will allow users to check their segregated bitcoin wallets on the blockchain.
James D’Angelo wants to cap the world’s carbon emissions, and he wants to do it using bitcoin — that digital currency you’ve heard about but don’t quite understand. The NASA engineer turned rapper turned conservationist turned cryptocurrency enthusiast turned YouTube personality calls his plan “the people’s cap-and-trade,” or Sno-Caps. It would give everyone in the world equal access to the carbon market, have almost no operating costs, and require zero government involvement.
At the Inside Bitcoins conference in New York City, we asked three executives in the Bitcoin space about some of the biggest misconceptions currently surrounding the cryptocurrency. Check out their responses — and how they typically redress these falsehoods.
The Bitcoin market cap plays a key role in making sense of Bitcoin value predictions of $10,000, $100,000 and even $1 million. The reason is that it mimics the market cap of a stock. But while the term is not quite accurate, the Bitcoin market cap is a convenient shorthand for describing what all the world’s bitcoins are worth at a given point in time.