The issue of transition to decentralised payment networks was raised again last week. On June 1, Visa, which usually processes more than 150 mln transactions daily, suddenly failed. Millions of people in the UK and Europe were unable to pay for goods or services, and Visa payments were also disrupted for US residents. Current queues at Tesco cash machines in MK. Suspect this is a common scene across the U.K. right now đŹ #visadown pic.twitter.com/YunwFA8lYz â David Pride (@davejavupride) June 1, 2018 Several hours later, the problem was solved, but the mere fact of widespread failure indicated the need for âŚ
The crypto market is continuing to grow with only slight dips today, April 23, as Bitcoin (BTC) remains close to $9,000 after two weeks of gains and total market cap hits a 7-week high, according to data from CoinMarketCap. Crypto market visualization from coin360.io BTC is currently trading at around $8,840, down around 0.70 percent over a 24 hour period to press time, according to data from Cointelegraphâs BTC price index. Ethereum (ETH) is up around 0.10 percent over a 24 hour period to press time, trading at around $636, according to data from Cointelegraphâs ETH price index. Of the âŚ
South Koreaâs largest cryptocurrency exchange Bithumb has partnered with BitPay to compete in the international remittance market, an executive announced March 13. Speaking to CNBC about the deal, BitPay chief commercial officer Sonny Singh said businesses would now be able to convert invoices to Bitcoin and use BitPay to settle them faster and more cheaply than via conventional bank-based remittance channels. âCross-border payments between Korea and the West will be a $200 bln industry this year,â he told the network. âRight now, people are doing cross-border payments [âŚ] and paying bank wires, FX fees around 4% and it takes about âŚ
Anybody who was drawn to Bitcoin in the very earliest days might have been put off by one significant fact. Bitcoinâs biggest exchange, where they would likely go to purchase the currency, was bizarrely called: âMagic the Gathering Online Exchange,â or Mt. Gox for short. Anybody who was confused as to why they needed to go to a âMagic the Gatheringâ website to purchase Bitcoin probably just went ahead and closed their browser. A nascent economy Mt. Gox is just one example of the type of services (or lack thereof) provided during Bitcoinâs infancy. Eventually more reputable exchanges would come âŚ
MIT cites major flaws in the NY BitLicense, Euro Banking Association issues a report on 'Cryptotechnologies,' Denmark will discontinue the printing of new fiat money in 2016, former MasterCard general manager joins BitPay, and more top stories on May 13. MIT Cites 'Critical Flaws' in BitLicense Proposal MIT Digital Currency Initiative director, Brian Forde, has published a blog post where he cites the four "critical flaws" in New York's BitLicense. According to Forde: "If changes to the proposed BitLicense are not made, only a handful of the most well-funded companies will survive â not because they are providing the best âŚ
March 8 is synonymous around the world as International Womenâs Day, and as of 2015 cryptocurrency now has its own version, Bitcoin Womenâs Day, with sponsorship from major players including BitPay and the Bitcoin Foundation. The event, set to be held annually from this year, seeks to champion the role of women in the digital currency community, after a recent poll by 99bitcoins suggested only 8% of users were female. Speaking to CryptoCoinsNews, organizer Sarah Boone Martin said she had nonetheless been taken aback by the strength of response after launching the campaign. âWe never anticipated Bitcoin Womenâs Day would âŚ
Taking their lead from a group of Bitcoin enthusiast customers and a âserious, public conversationâ on Facebook, Europeâs military surplus giant, Varusteleka, now accepts bitcoin payments. Varusteleka trades in military surplus clothing and equipment from around the world and is now aiming to expand its sales reach to customers where international payments have proven difficult. Using BitPay as a payment platform, the company now aims to ease that friction while opting to still receive the payments at their end in Euros. The founder of Varusteleka, Valtteri Lindholm, explained to Cointelegraph: âPayments within the euro zone are easy enough, but payments âŚ
The Electronic Transactions Association (ETA) announces new digital currency features, including the so-called "World of Bitcoin" exhibit showcase, at industry's major event, Transact 15. Powered by ETA, Transact 15 is one of the world's largest and most important events covering all aspects of the payments industry. This year, the digital currency industry will be represented through an exhibit showcase called "World of Bitcoin," which will be featuring leading Bitcoin payments solution provider BitPay. "With the launch of our World of Bitcoin showcase, and our partnership with BitPay to accept bitcoin payments, TRANSACT 15 is now the place to be for âŚ
The city of Madeira Beach, Florida, became the first municipality in the world today to officially embrace Bitcoin, following a resolution by the city council. The city has resolved to become âBitcoin Beach,â in preparation for the upcoming âBitcoin Bowlâ that will be held a few miles south in St. Petersburg. BitPay, the world´s largest Bitcoin payment platform, will sponsor the game, which is also known as the St. Petersburg Bowl. The college teams of the University of Central Florida and North Carolina State University will play against each other on December 26, 2014. The teams are ACC Atlantic Coast âŚ
1. FBI Takes Down Silk Road 2, Several Other Dark Markets Without a doubt, this weekâs biggest story was the international crackdown on dark markets called Operation Onymous. The operation included the FBI shutting down Silk Road 2, with at least 10 other black markets going down, as well. â[Silk Roadâs alleged] operator, Blake Benthall, who according to one Gawker story, was a former employee at SpaceX, was reportedly arrested in San Francisco almost exactly one year after Silk Road 2.0 went live on November 6, 2013,â Carlo Caraluzzo reported Thursday. âThe site is now offline and visitors to the âŚ
BitPayâs CEO Stephen Pair recently announced an innovative new program that could very well change the way the internet works on several levels. The new program, called Foxtrot, was designed to give internet users the security and privacy offered by the Bitcoin blockchain technology in everything they do online. While the new system is still in the early stages, foxtrot is currently available for download and BitPay plans on using it to empower their own systems. Cointelegraph reached out to Tony Gallippi, BitPayâs Executive Chairman for comments about the new project as well as on the addition of Arthur Levitt, âŚ
BitPay and Vaurum announced the addition of a seasoned regulatory adviser. Former Securities and Exchanges Commission Chair Arthur Levitt oversaw the U.S. agency for half a decade and is well-versed in U.S. financial regulations. Levitt told The Wall Street Journal that he aims to âhelp them understand the imperative of a robust approach to regulation.â He indicated that he was lured by the excitement that carries the technology. âBitcoin is a fascinating new product in the rapidly changing world of financial service,â said Levitt. âI hope to help BitPay and Vaurum blend their new business models with core monetary methods âŚ