Blockchain Blog

Bitcoin News for the week of 6/22/15

**Welcome to our weekly bitcoin news recap, where we cover top headlines and stories in the world of bitcoin each week. **This week we saw a continued trend in media discussing all the advantages of block chain technology, including our own article on how it’s transforming the way people think about certain core financial aspects. Nathaniel Popper, author of Digital Gold, was in London this week and visited with community members. If you haven’t picked up his book yet we definitely recommend it! We also saw some movement and additional discussion relating to the ongoing block size debate. On another note, the New York ‘BitLicense’ went into effect this week, with many chiming in on how it is and isn’t impacting bitcoin. Got a story to tell? Send us a tweet!

[![Digital Gold](http://blog.blockchain.com/content/images/2015/06/FullSizeRender-9-1024x730.jpg)](http://blog.blockchain.com/content/images/2015/06/FullSizeRender-9.jpg)
Nic Cary with Nathaniel Popper, author of Digital Gold.
[The Five Phases of Bitcoin :: IBNYC Keynote](https://panteracapital.com/download/the-five-phases-of-bitcoin-ibnyc-keynote/)

Pantera CEO Dan Morehead recently gave a keynote presentation for the Inside Bitcoins conference in New York City entitled, “The Five Phases of Bitcoin.” Some topics include: An Approximation of the Bitcoin Industry’s USD Value, Bitcoin Venture Investment “Cheap” Relative to U.S. Equities, and The Five Phases of Bitcoin.

![](http://blog.blockchain.com/content/images/2015/06/5-phases-bitcoin.png)
The five phases of Bitcoin, via Pantera Capital
[How Bitcoin and the block chain are a transformative technology](http://blog.blockchain.com/2015/06/23/how-bitcoin-and-the-block-chain-are-a-transformative-technology/)

Recently we talked about the top reasons why you should use bitcoin. But, do you know why bitcoin is so game changing? Today we will talk about why and how it is improving the world around us, and how bitcoin solves problems that once were thought to be unsolvable.

Bitcoin technology could bring an end to banking as we know it

Silicon Valley’s Marc Andreessen famously stated that software was eating the world, but who would have predicted it could consume the mighty corporatocracy of banks and financial services providers? The metrics portend ominously for banks: some 30% of millennials (people under age of 35 who have grown up with technology) do not expect to have a bank account in five years. That is according to research from Goldman Sachs.

Why Everybody Cares About the Block Chain

In a session called “Why Everybody Cares About the Block Chain” at the inaugural Techonomy Policy conference earlier this month, panelists emphasized repeatedly that the database holds tremendous promise for an array of uses in banking, conflict tracking, and voting, among other things. It was a wide-ranging discussion, reflecting the vast possibilities proponents see for this contemporary technology.

Canadian Banking Giant’s CEO, ‘It’s Important For Banks To Understand How Block Chains Work’

New players in the financial services space, like Apple Pay, are causing a top to bottom reinvention of the banking business model. This is causing incumbents to rethink their strategies. The Canadian Imperial Bank of Commerce (CIBC) is not waiting to be overtaken however. The bank is open to adopting the new technologies being developed, both internally and externally.

Barclays to Explore Financial Applications of Block Chain, Signs Deal with Bitcoin Company Safello

“At Barclays, we’re embracing the digital revolution, exploring innovations early on so that we can help to shape their development and co-create the future of financial services with these startups,” said Barclays’ chief design and digital officer Derek White.

Blythe Masters’ Block Chain-Tech Startup Turns to M&A

Digital Asset Holdings, the block chain technology startup led by JPMorgan Chase alum Blythe Masters, is expanding its capabilities by acquiring other such firms. The firm announced Thursday it had acquired Bits of Proof and agreed to acquire Hyperledger. Terms were not disclosed for either transaction.

Block Chain Startup Joins Fray to Overhaul Banking Systems

Blockstack, a San Francisco-based firm, has taken the underlying technology behind bitcoin transactions and adapted it for mainstream finance, including clearing and settlement, according to Peter Shiau, the company’s co-founder and chief operating officer. A small group of banks have started beta testing Blockstack’s technology.

Coinplug Wins $45,000 Prize for Blockchain ID Service

Bitcoin services company Coinplug has snatched the top prize in a financial technology competition sponsored by major banking group JB Financial Group. Over 100 companies vied for a total prize pool of 130m Korean won ($116,200) at the FinTech Frontiers Fair held in Seoul, South Korea.

![](http://blog.blockchain.com/content/images/2015/06/blocksize-poll-ccn.png)
Poll results courtesy of CryptoCoinsNews
[Please Raise the Block Size: Bitcoin Mining Community Poll](https://www.cryptocoinsnews.com/please-raise-block-size-bitcoin-mining-community-poll/)

Over 100 miners responded to the question, and there are pros and cons on both size for maintaining the status quo or getting ahead of the curve. Here is what each side of the argument generally looks like, and a pie chart with the results of the poll below.

BitBeat: Bitcoin’s Block-Size Debate Gets Stress Tested

The fight over bitcoin’s block size is getting testy. Literally. For months now, a raging debate has been roiling the bitcoin industry over whether or not to increase the maximum size of a transaction block of data. The current maximum is 1 megabyte. Gavin Andresen, who heads up Bitcoin’s core developer team, has suggested increasing that to 20 megabytes, so as to facilitate the increased traffic the system is processing as bitcoin grows.

Bitcoin Ecosystem Health-check

When you get a physical checkup, you want to know the numbers. You also need to know what the numbers mean. What is good vs. bad cholesterol and does cholesterol even matter? Blockchain.info has the numbers. The question is – what numbers really matter?

Elizabeth Ploshay: ‘The Majority of the Financially Excluded Happen to Be Women’

CoinTelegraph spoke to Elizabeth Ploshay about the bitcoin companies and related projects she’s involved with as well as crypto’s potential to bring in the world’s financially excluded population, the majority of which “happen to be women.”

Hong Kong missing the bitcoin boat to riches

Bitcoin and the block chain present Hong Kong with a second chance to make things right and become the innovation hub for FinTech & Startups — a dream the Government has been imagining since long time ago. The most promising applications of this new technology have yet been built. This presents Hong Kong with a golden opportunity to create a favorable environment.

A guide to investing in bitcoin

A lot of people ask about investing in bitcoin, or if they should. This piece goes through the pros and cons, and various options. It will cover what bitcoin is, and a bit of the history of the digital currency as an investment vehicle. If you are considering investing in bitcoin, we recommend you do your own research before making any decisions. This guide does not seek to recommend or advise investing in bitcoin, but acts as a resource for people trying to understand it better.

Deal Brings Bitcoin Option to Over 20,000 Japanese Retailers

A deal between bitcoin exchange Quoine and payments network Econtext will allow more than 20,000 online and eventually physical merchants to accept bitcoin in Japan. The move essentially allows merchants that already use Econtext’s payment processing services in thousands of online stores to accept bitcoin payments without the need for a bitcoin-specific processor.

Kim Dotcom: Buy bitcoin and gold as Grexit will cause market crash

Renowned tech entrepreneur Kim Dotcom has said that the “likely” market crash that will be triggered by Greece failing to repay its loans means that people should take the opportunity to invest in bitcoin and gold now.

First Spanish University Installs Bitcoin ATM on Campus

The number of global universities equipped with bitcoin ATMs increased on 22nd June with the announcement by Pompeu Fabra University (UPF) that it would install a unit on its Poblenou campus. With the news, Pompeu Fabra joins MIT in the US, Simon Fraser University in Canada and the University of Zurich in Switzerland as universities that have installed bitcoin ATMs.

New York Releases 31-Page BitLicense Application Form

The New York State Department of Financial Services (NYDFS) has released the application forms that bitcoin companies in the state must complete by August 8 in order to register their businesses. The BitLicense was formally adopted earlier this week through publication in the New York State Register.