Blockchain Blog

Bitcoin News for the week of 12/21/15

Welcome to our weekly bitcoin news recap, where we cover top headlines and stories in the world of bitcoin each week. This wouldn’t be bitcoin if there wasn’t exciting news to end the year with, where we reached two significant milestones just before the year closes out. There has also been continued interest in bitcoin globally, showing signs of progress, in different areas of the world. And this week, several have chimed in with their opinions and predictions for the upcoming year and what they think we should expect in bitcoin. Get all these details and more in this week’s bitcoin recap.

Bitcoin milestones

![Bitcoin chart via](
Bitcoin chart via
[Bitcoin Cracks 100 Million Transactions, Comes of Age](

Bitcoin, the world’s most famous cryptocurrency, is poised to reach a major milestone before the end of the year: 100 million transactions. As a matter of fact, after this story was published, on Christmas Day December 25, 2015, the number of bitcoin transactions surpassed 100 million.

In another milestone in the coming of age of bitcoin, the amount of bitcoins issued in total since 2009 has just reached 15 million bitcoins, which was just so also happened to be reached on December 25. The total amount that will ever be issued will be 21 million, so this is a big milestone.

Bitcoin around the world

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Illustration via
[Bitcoin Remittances to Mexico See Huge Potential](

Companies and services using Bitcoin are poised to rise to the top of the US to Mexico remittance industry, Mexico’s second largest industry. Many experts stated in an interview with Cointelegraph that the market has huge potential to make cross-border money transfers simpler and cheaper which will save millions of dollars for Mexican people and the Economy.

In Kenya, bitcoin is flourishing despite central bank’s concerns. The central bank’s disapproval is not preventing Kenyans from using bitcoin — it becomes ever-more popular, with about 10,000 users to date, according to bitcoin statistics. The appeal of bitcoin is that it makes international money transfers cheap. Banks take up to 10 percent commission on international transfers in the country, while bitcoin platforms in Kenya get about 3 percent, a fraction of that amount — the exact commission varies from platform to platform, but it is always much less than that taken by banks and foreign exchange dealers.

In Russia, the Internet Development Institute (IID) has asked President Vladimir Putin to change the country’s outlook on blockchain technology. The story reported by the Russian CNews publication claims the group shows a strong interest in the innovations cryptocurrencies have to offer including crowdfunding, freelance work, and paying taxes. Also, in India, the tech behind bitcoin can help check counterfeiting.

Predictions and opinions

Bitcoin is Entering the Age of Practicality

Bitcoin and blockchain technologies are still in their infancy. Yet, millions of dollars have been invested and many companies have reaped tremendously from early adoption. But, it’s important to note that the companies that have had the most success have done so by creating a foundation for the entire industry. As when building a house, the foundation is the first and possibly the most important element. Without it, the house would fall, and any good builder knows that you have to give the foundation a chance to cure before building on top of it.

Could this build up lead to 2016 being a banner year for bitcoin? CBS News appears to think so in their Money Watch article. And the Economic Times has written also that record highs are anticipated in the upcoming year as the head toward the Bitcoin halving.

Is the future of money bitcoin? Currency has gone from cows to coins to paper to plastic. The next big disruption? We could all be spending digital dough. The only true disruption to money that we’ve seen in the Internet age came not from a Palo Alto garage but a list-serv for tech-savvy libertarians. Bitcoin, which spun out of the mind of the pseudonymous engineer Satoshi Nakamoto in 2008, is a cryptographically maintained currency with value imbued by the computers of its users, not a government mint.

Startups, ventures, and innovations

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Image via

A recent project by Google involves finding a way for users to access platforms and services without needing a password. Blockchain technology can play a big role in achieving this goal. Despite the best efforts by both Yahoo and Google, there is hardly such a thing as an incorruptible solution for authentication. The only real solution available right now is embracing blockchain technology to create a new digital authentication token, linked to a private key that only the user owns and controls at all times. In other innovative news, the future of bitcoin mining is constantly changing, with many innovations and technologies over the years changing the way in how mining is performed.

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