Welcome to our weekly bitcoin news recap, where we cover top headlines and stories in the world of bitcoin each week. The last few days here at Blockchain have been exciting for us, as our team of talented and experienced advisors came together to write individual posts about why they joined the Blockchain board and how they are able to bring new and interesting ideas to Blockchain and bitcoin. We also had the pleasure of speaking with philanthropist Connie Gallippi, and heard a first-hand account of how bitcoin is impacting charitable work. It was also a huge week in new venture capital commitments. Get all this news and more, in this week’s bitcoin rundown.
By Salil Pitroda: In the fifteen years I have dedicated to building technology companies, I have seen what makes a market innovator. Today, I see that, and more, in Blockchain, and it has been thrilling to work with the company as an advisor over the past year.
By Bob Wigley: In financial services, there is a tectonic shift going on as the digital era creates new opportunities for established businesses to reinvent themselves spurred by entrepreneurs inventing digital business models to disrupt the status quo. I can’t remember a time when London has been buzzing with so much entrepreneurial activity and a day doesn’t go by without someone raising a new FinTech idea with me.
By Arthur Levitt, Jr.: The reason I’ve chosen to take an advisory role with Blockchain and other firms engaged in crypto-currencies is precisely because of the opportunity they present to achieve the outcomes of good market regulations in new and interesting ways. These are new technologies and therefore we are just beginning to understand them, but what we already see is quite promising.
Bitcoin startup Blockchain has added a former banking chairman and a former Facebook executive to its team of advisors. The announcements were issued on Blockchain’s blog over the past two days, with former chairman for Merrill Lynch Europe, Middle East and Africa Bob Wigley, revealing his role in a post today.
Vinny Lingham speaks at TEDxCapeTown and takes us through the creation and design of bitcoin and explains how its technology and concept can be expanded to influence so much more than just our currencies.
Westpac Banking Corp chief Brian Hartzer describes bitcoin and the block chain as “potentially disruptive” technologies which could be “quite powerful from an efficiency point of view” but says there’s no need for banks to panic about being cut out from the monetary system because any impact will only come in the long term.
JP Morgan Chase CEO Jamie Dimon described the situation in the simplest terms. “Silicon Valley is coming,” he said. In his annual letter to shareholders this past spring, Dimon warned the Wall Street old guard that their way of doing things was under siege from “hundreds of startups with a lot of brains and money.” His warning, it turns out, did not go unheeded.
The Isle of Man is a strange place. Home to four-horned sheep, cats without tails, and perfectly preserved Victorian-era steam locomotives, this rock in the middle of the Irish Sea is perhaps best known for hosting the world’s most dangerous motorcycle race, the Manx TT. No place on the planet has welcomed digital currencies as warmly as the Isle of Man.
Recently we had the great pleasure of speaking with Connie Gallippi, the founder of the first bitcoin nonprofit, BitGive. We reached out to Connie to get a first-hand account of how bitcoin is impacting charitable work across organizations.
Cash and gifts-in-kind are the two main types of relief when it comes to assisting those who have suffered in the face of natural disasters, but bitcoin is becoming an ever more popular option. With aid groups looking to deliver funds in the cheapest and most efficient manner, it is not surprising some incumbents are searching for alternatives, seeking to leverage existing and new technologies to improve the way in which aid is distributed.
Block chain technology has been tapped for several practical applications these days, spanning from creating secure databases to facilitating trade settlement. Word is that international shipping company UPS is also looking into the potential uses of the block chain in its own operations.
While banks and investors look to the block chain as a singular investment vehicle, they miss the fact that bitcoin is not only the strongest distributed ledger in existence, but also resembles the natural patterns of basic biology. Hence, it is no wonder why some refer to bitcoin as the “perfect market.”
Bitcoin continues to be a controversial digital currency. But the financial world is buzzing about new applications for the block chain, the underlying technology that makes bitcoin possible. Here’s how it works.
The bitcoin block size debate appears to be moving towards a solution, following years of debate by developers and other players in the bitcoin community. It has been almost three weeks since the release of BitcoinXT by Gavin Andresen and Mike Hearn, which follows Bitcoin Improvement Proposal 101.
The MIT The Media Lab is offering two courses. The Future of Commerce (MAS.S63) will explore how block chains like Bitcoin and Ethereum disrupt existing markets and financial services, and allow graduate students to build new business models, products, or technical concepts. More specifically, students will be taught to imagine the future of money, markets, transactions, and marketplaces, and issues like commerce, security, and privacy.
Coin Center is celebrating its first year of crypto-advocacy! Since launching last September their team has been hard at work to ensure that any government action on cryptocurrencies like bitcoin is based on a sound understanding of the technology.