Blockchain Blog

Bitcoin News for the week of 6/29/15

**Welcome to our weekly bitcoin news recap, where we cover top headlines and stories in the world of bitcoin each week. **Greece and Bitcoin took the news by storm this week. As Greeks scrambled to pull out cash from ATMs, and banks shutting down during the debt crises, many in the world of Bitcoin are seeing a large surge in activity – the price is reflective of such a surge, but where it’s coming from – is still a matter of some debate. Interestingly, while the Greek crisis unfolds several major Banks are experimenting with Bitcoin and block chain technology. And we excitedly announced the addition of former COO of Skype, Michael Jackson, to the Blockchain board. Read about this week’s events in our weekly Bitcoin rundown.

![“Poseidon doesn't need a bank. He uses Bitcoin” – Peter Smith, CEO of Blockchain ](http://blog.blockchain.com/content/images/2015/07/bitcoin-greece.jpg)
“Poseidon doesn’t need a bank. He uses Bitcoin” – [Peter Smith, CEO of Blockchain](https://twitter.com/OneMorePeter/status/615618438522884096)
[Greeks are rushing to Bitcoin](http://money.cnn.com/2015/06/29/technology/greece-bitcoin/)

With bank doors slammed shut, frantic Greeks are turning to online trading platforms to see if the digital money Bitcoin is a better bet than the euro. The world’s largest Bitcoin exchanges tell CNNMoney they’ve seen a surge of business from Greece.

Investors turn to bitcoin as haven from Greek woes

Bitcoin has been boosted by small European investors during the turmoil over Greece, as dealers of digital currencies position them as a possible haven alternative to traditional ones like gold.

Bitcoin Documentary Brings Cryptocurrency Back to Political Roots

Although many entrepreneurs and investors would like to see Bitcoin become a mainstream phenomenon, the roots of this technology can be found in the fringes of libertarian and anarcho-capitalist political thought. While plenty of Bitcoin companies are attempting to bring fast, digital payments to the world through the use of cryptocurrency, the main point of this invention is still to allow for open, censorship-resistant transactions.

Michael Jackson, Former COO of Skype, Joins Blockchain Board

We are proud to announce this week that the former COO of Skype, Michael Jackson, has joined the Blockchain Board and will be helping to contribute to the overall vision of Blockchain, and helping us solve many of the same scaling, growth, and regulatory challenges we faced in the past.

Codename Citicoin: Banking giant built three internal blockchains to test Bitcoin technology

Citigroup, the global advisor of multi-nationals and governments, has been using its scale and reach in some surprising ways, such as conducting transactions on mobiles without bank accounts in Kenya, and developing blockchains within the bank and test-coins to run across them.

Singapore Central Bank Funds Blockchain Recordkeeping Project

The Monetary Authority of Singapore, the city-state’s central bank, has funded a blockchain-based record-keeping system as part of a five-year $225m investment plan aimed at financial technology. Managing director Ravi Menon announced the Financial Sector Technology & Innovation initiative during a 29th June speech at the Global Technology Law Conference 2015 in Singapore.

Major Credit Card Companies Weighing the Pros and Cons of Bitcoin

The major credit card companies – American Express, MasterCard and Visa – are exploring uses of Bitcoin and the blockchain technology, International Business Times reports. They can see the threat from blockchain fintech, and are considering ways to integrate selected aspects into their own operations.

Money Will Be Digital — But Will It Be Free?

Bitcoin offers a glimpse into the future of money — a purely digital form of money that is individual, private, global, and free (free as in speech, not as in beer). Bitcoin is often compared with the existing banking system, juxtaposing its futuristic capabilities with the slow, antiquated, and cumbersome world of wire transfers, checks, “banking hours,” and restrictions.

![Illustration: Mark Montgomery/IEEE Spectrum](http://blog.blockchain.com/content/images/2015/07/bitcoin-blocks.png)
Illustration: Mark Montgomery/IEEE Spectrum
[The Future of the Web Looks a Lot Like Bitcoin](http://spectrum.ieee.org/computing/networks/the-future-of-the-web-looks-a-lot-like-bitcoin) Why trust Bitcoin, or more specifically, why trust the technology that makes Bitcoin possible? In short, because it assumes everybody’s a crook, yet it still gets them to follow the rules. To understand how, you need to unpack what Bitcoin really is.

Having My Mind Changed About Bitcoin: How Dr. Shapiro Did It

As I walked around TechCrunch Disrupt NYC recently, I was bombarded with messaging, product demos and pitches. Until I met a young lady who didn’t know I was a tech journo. She had one goal, after I announced that “Bitcoin isn’t my thing.” To change my mind.

Everledger Is Using Blockchain To Combat Fraud, Starting With Diamonds

The wild valuation swings of Bitcoin are something of a sideshow when compared with the potential of the underlying blockchain engine. Focusing on the utility of this distributed, consensus-based technology is exactly what London-based startup Everledger is doing.

MIT’s Bitcoin-Inspired ‘Enigma’ Lets Computers Mine Encrypted Data

The cryptography behind Bitcoin solved a paradoxical problem: a currency with no regulator that nonetheless can’t be counterfeited. Now a similar mix of math and code promises to pull off another seemingly magical feat by allowing anyone to share their data with the cloud and nonetheless keep it entirely private.

BitGo Launches Verisign-Like Certificate To Prove Solvency For Bitcoin Companies

An innovation in secure Internet communication, SSL, enabled consumers to be able to trust that, say, their credit card numbers wouldn’t be stolen online. And companies like Verisign offered seals of approvals that let a consumer know when they were dealing with a company they could trust. In the same way, Bitcoin security company BitGo announced a new stamp of approval in Bitcoin transactions that aims to help consumers put more trust in transactions in the digital currency.

Coinmap Timeline

Lots of people are enjoying the World view feature that was introduced in 2.0 release of Coinmap. We spent countless hours looking at this heat map, trying to make it better and at one point we thought: “if only there was a way how to animate it and see Bitcoin spreading in time”. Well guess what. This is possible now!

WIRED Money Countdown: a simple guide to the blockchain

If you’re not familiar with the blockchain, and it’s still a relatively new concept in the world of electronic finance, you no doubt will have heard of Bitcoin. Bitcoin is a peer-to-peer electronic cash system, also known as “cryptocurrency”, which basically allows people to make instant, anonymous transactions online.

A 4-step guide on how to buy bitcoins and store them

Buying bitcoins and storing them securely shouldn’t be hard a process; in fact, once you go through the process once, you are setup for next time and will have a much better understanding of what to do going forward. For beginners, since there are so many Bitcoin exchange and wallet options, at times it can feel overwhelming on where to start. This guide will walk you through a few steps to help you get going and being on your way to becoming a confident Bitcoin owner.

The technology behind bitcoin is being used in surprising ways

It has the potential to disrupt the financial services industry — changing how we trade financial securities, eliminating the delays and wire fees that accompany international payments, opening bank records to the easy scrutiny of regulators and the public, advocates say.