Welcome to our weekly bitcoin news recap, where we cover top headlines and stories in the world of bitcoin each week. This week we were proud to announce our Blockchain Wallet API Version 2, in addition to highlighting a post on Blockchain developer Mats Jerratsch who is working on scaling Blockchain. In other good news, the Central Bank of Barbados is researching using bitcoin in their reserve holdings, which could set a great precedence for other banks. Also, there is a bitcoin movie being made, but we won’t spoil it for you – check it out in the news recap below!
We’re excited to ship the beta of our new version of the Blockchain Wallet API, which allows users to programmatically interface with their Blockchain wallet to build their own bitcoin apps. This update lays the foundation for future advancements of our service, as it runs using our new V3 My Wallet engine at its core.
At Blockchain, we are spending a lot of time thinking about how to scale not just our own services such as our Wallet API, but how to scale the bitcoin network so it can support tens of millions of new users. In a new dev post, we highlighted the amazing work that Mats Jerratsch is doing at Blockchain, driving our research and development of layer 2.0 bitcoin technologies – think payment channels and other exciting new technology. In addition, the greater developer community is gathering in Hong Kong for the Scaling Bitcoin workshop which is taking place this weekend.
The Central Bank of Barbados is looking at whether or not digital currencies should become a part of their reserve holdings portfolio. Due to the utility for international transactions, digital currencies lend themselves perfectly to become part of the portfolio of external assets.
This news was praised by many in the industry, including bitcoin investor and economist Tuur Demeester who said, “The reason why this is a good idea is not only because the value of Bitcoin could go up (and thus benefit the treasury and financial welfare of the country), but also that it provides a buffer to defend a nation against that is known as a “speculative attack”.”
The central bank of Barbados isn’t the only one that is influenced by bitcoin, as news was published this week that Goldman Sachs wants to create its own version of bitcoin for a settlement system for trading stocks, bonds and other assets, according to a patent filing. Deutsche Bank believes that blockchain technology will become more widespread over the course of the next ten years. The comments come after the German banking giant carried out a blockchain-based experiment that focused on programmable bonds.
Bitcoin and art
A flashy “action comedy” debuting next year in Vietnam uses bitcoin as a plot element amid a story of international intrigue and crime. Bitcoins Heist focuses on “a team of criminals” assembled to catch a man wanted by intergovernmental police organization Interpol. As described in the English-language subtitles accompanying the teaser trailer, a “Special Agent Dada” is tasked with putting together a group that includes a hacker, a burglar and a forgery expert.
Bitcoin isn’t just taking on other forms such as in films, it’s also being documented in art. In an interview with artist Ray Istre, CoinCafe talks to him about the inspiration for his artwork and his hopes for the future of bitcoin. But at the end of the day, is bitcoin for humans and can be used to express art, or is bitcoin a language best spoken by machines?
On the horizon
Will Bitcoin replace paper money? During an interview on the FOX Business Network’s Mornings With Maria, Digital Currency Group CEO Barry Silbert, who’s considered the most active investor in Bitcoin companies, said: “[Bitcoin] it’s going to change the way that people send money, spend money — even think about money. It’s kind of redefining what money is.”
Bitcoin is frequently compared to precious metals, and noted computer scientist and respected cryptographer Nick Szabo said in an Inside Bitcoins article that “bitcoin is more secure than gold.”
In the Dallas Morning News, Tyler Moore, assistant professor of cyber security at the University of Tulsa said that the “blockchain is a real innovation compared to the way electronic payments have worked in the past. Blockchain created a way to send bitcoin or some other payment without having to go through the traditional financial system, which is run by the big banks.”
For more news like this, be sure to check out our archives!