Welcome to our weekly bitcoin news recap, where we cover top headlines and stories in the world of bitcoin each week. In an interesting news bite, we saw bitcoin’s inventor, Satoshi Nakamoto, was nominated for the Nobel Memorial Prize in Economic Sciences. It’s another sign of increasing legitimacy for bitcoin, which shows that people globally appreciate its enduring contributions to computer science. We also see that financial institutions are persistent on embracing bitcoin and blockchain tech, applying them in different ways to fit their business models and platforms; bitcoin is disrupting. There is even more good news, which you can get by reading on in this week’s bitcoin news recap.
**Satoshi Nakamoto **[The (Unknown) Inventor of Bitcoin Nominated For the Nobel Prize in Economics](http://gizmodo.com/the-unknown-inventor-of-bitcoin-nominated-for-the-nob-1741375309)
The Nobel Memorial Prize in Economic Sciences is, as with most Nobel prizes, quite a big deal. Past laureates are a who’s who of economics—and starting in 2016, that list could include the inventor of bitcoin. Assuming, of course, someone works out who that is.
The inventor of bitcoin is not to be confused though with Dorian Nakamoto, who is pictured above in a wonderful piece of artwork that was recently auctioned off in a charitable fundraiser. Dorian has become somewhat of a cult figure in the bitcoin community after being mistaken for the mysterious Satoshi Nakamoto. There are other artists that traverse the bitcoin community, such as Pierre Bourque, who was interviewed by Coin Cafe for his amazing artwork where he uses a brushstroke technique to give his art a unique twist.
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Banks are becoming progressive
Visa Europe has announced it is working on a proof-of-concept for a blockchain-based remittance service. Created through Visa Europe Collab, the trade organization’s innovation initiative, the proof-of-concept is being built in collaboration with Epiphyte, an enterprise blockchain services firm that recently graduated from San Mateo incubator Boost VC.
In Ottawa, the Bank of Canada is exploring new ways to plan for financial crisis and what new innovative tools they can use. “We have to envisage a world in which people mostly use e-money, perhaps even one that’s not denominated in the national currency, like Bitcoin,” Wilkins said, referring to the virtual currency. In a report by TABB Research, they said that banks could start to adopt bitcoin technology as soon as next year, revolutionizing the industry by enabling more secure transactions and creating new streams of revenue, the new report predicts.
On another side of the spectrum, bitcoin company BitWage is trying to help eliminate the dependency on banks through their payroll services. Users can have payroll funds deposited in bitcoin directly to their BitWage account, completely bypassing banks. Now with their mobile app, you can check the status of your payroll, or simply move funds between the Cloud Savings, Debit card and payroll easily.
Bitcoin and blockchain are transforming industries
The US Securities and Exchange Commission (SEC) has an urgent need for a Consolidated Audit Trail (CAT), Commissioner Kara M. Stein said in a recent speech. The Commission has been trying to build a CAT system, which would be one of the largest databases in the world, to comprehensively track markets across various venues and systems, providing increased transparency and better access to critical data. As a transparency and CAT advocate, it is no surprise that in her speech earlier this week, at Harvard Law School, Stein stated that blockchain technology has the potential to help.
In other news, the music industry is also being disrupted, as three startups are trying to transform the industry using the blockchain.
Talking bitcoin[Bitcoin.com AMA Recap November 12: All-Star Team of CEO’s and Co-Founders](https://news.bitcoin.com/bitcoin-com-ama-recap-november-12-all-star-ceo-co-founders/)
Most people will have realized by now how the biggest AMA event in the history of bitcoin is proving to be an unprecedented success. An all-star lineup collected and answered questions from the bitcoin community. Some of the participants were Justin Newton, Patrick Byrne, Frank Schuil, and Stephen Pair.
BoostVC founder and bitcoin enthusiast Adam Draper did a question and answer on bitcoin platform ZapChain, and talked about everything from blockchains to autonomous vehicles, artificial intelligence, and startups. Elsewhere on the recently launched reddit site Upvoted, they did a rundown of the Winklevoss Twins bitcoin AMA post-Gemini launch, which has a lot of great information about their new bitcoin exchange platform.
Did you enjoy our news recap this week? Let us know your thoughts on the topics we covered by commenting below!