Blockchain Blog

Bitcoin News for the week of 10/05/15

Welcome to our weekly bitcoin news recap, where we cover top headlines and stories in the world of bitcoin each week. In this week’s headlines, we talk about upcoming bitcoin events that you don’t want to miss, the launch of Gemini and how it may impact the market, and banks and blockchain tech. If a particular article catches your eye, don’t forget to check out the links below it for further reading on that topic. Get excited, as we rundown this week’s bitcoin news.

Be prepared, bitcoin events are coming

[![Image courtesy of Cal Hacks](http://blog.blockchain.com/content/images/2015/10/calhacks-1024x380.jpg)](http://blog.blockchain.com/content/images/2015/10/calhacks.jpg)
Image courtesy of Cal Hacks
[Cal Hacks Countdown!](http://blog.blockchain.com/2015/10/07/cal-hacks-countdown/)

“Calling all hackers. Dreamers. 4-A.M’ers.” Undergraduate students from universities all over the world have been invited to register for Cal Hacks, a 36-hour hackathon at UC Berkeley. As the only bitcoin wallet company sponsoring the event, our hackathon ambassador, Kevin, will be in attendance to field your bitcoin questions, questions about our API, and help get your team hacking away to build something incredible.

Also upcoming in just a few days in California is the DevCore Workshop sponsored by the Bitcoin Foundation, on October 16, 2015 which features an impressive lineup of speakers. In the third week of October, we’ll be gathering in Miami to celebrate the winners of Fintech America’s hackathon, and later that week we gear up for the Money2020 hackathon.  If you’re not in the U.S., the first ever blockchain hackathon is coming up in Dublin, Ireland on November 15, 2015. Participants will have 50 hours to build a blockchain product from scratch, competing with 150 other people for the top 3 prizes ranging from €1,000 – €5,000. The product pitch should take no more than 30 seconds, and participants can work within teams.

Double the fun: the twins launch Gemini

Making lots of headlines this week was the much anticipated launch of U.S. based bitcoin exchange, Gemini, founded by Tyler and Cameron Winklevoss. The Winklevoss twins received approval this week to launch the exchange as a chartered limited liability trust company. Tyler Winklevoss, CEO of Gemini, said “we didn’t apply for a BitLicense because we wanted to build an exchange that both Main Street and Wall Street could use and trust, so we decided to obtain a limited liability trust company charter in order to do so.”

With the hype surrounding the launch, some are saying that bitcoin is ‘growing up’, however those in the bitcoin community already know that bitcoin has passed adolescence.  The real challenge will be if the twins can actually bring institutional investors into this space, which is yet to be seen. If this challenge is met, it could be another notch in the belt of bitcoin.

Banks and the blockchain

It’s a recurring theme that’s been playing out since the early part of this year, when financial institutions began showing interest in bitcoin and blockchain technology. In a new report from BNY Mellon banking corporation, they said “blockchain technology could potentially transform payments.” The report weighs both the pros and cons of bitcoin and blockchain tech, posing both challenges and benefits that the bank would face as to taking on this technology.

At the Bloomberg Markets Most Influential Summit in London, several speakers including Jon Matonis took the stage to discuss blockchain and banks, and how they are influencing each other and beginning to work with each other, and what the future holds for the two. If you want to get a better idea of who at big banks are embracing the blockchain, have a read of the five mainstream finance figures who have open arms toward the technology.

It’s not just the banks

We talk a lot about FinTech, where banks and financial institutions are getting into bitcoin, however, it’s not only them getting excited over this newly found tech! Other companies within industries in Russia, Japan, and Tunisia are all planning on using or already in stages of integrating bitcoin and blockchain tech into their ecosystem.

*What are your thoughts on the topics in this week’s recap? Share them in the comments section below! *