News about Digital currency.
February 27th, 2017
The People’s Bank of China (PBOC) has conducted trial runs of a prototype cryptocurrency it has been developing since 2014 that could be used “to buy anything from noodles to a car”, The Straits Times reports. The digital currency would enable sellers to receive payments “directly from the buyer, lowering transaction costs as the middleman is cut out of the process”, the report adds.
February 7th, 2017
Cities will begin separating from their country’s national currency to launch their own digital money within 10 years, according to the CEO of blockchain-based financial network Bluzelle. “Blockchain and digital currencies make now the right time for a city to adopt its own currency,” Pavel Bains writes in an opinion piece published by CoinDesk.
January 18th, 2017
“The time is ripe” for the adoption of blockchain technology in India, according to the Reserve Bank of India’s research arm which believes the technology has the potential to digitise the country’s fiat currency. “We feel that BCT [blockchain technology] has matured enough and there is sufficient awareness among the stakeholders, which makes this an appropriate time for initiating suitable efforts towards digitising the Indian rupee through BCT,” the Institute for Development and Research in Banking Technology says in a white paper.
November 16th, 2016
Global consultancy firm PwC has joined forces with US blockchain technology outfit Bloq to create a platform allowing digital currencies to be used for everyday banking. Vulcan Digital Asset Services will “provide digital currency wallets, international payment processing, and investment and trading services, and will soon offer point-of-sale and merchant services and the ability to create and support native digital currencies and rewards-based systems”, Bloq says. The partnership also involves blockchain analytics provider Libra and digital currency solutions firm Netki.
July 28th, 2016
Bitcoin wallet Coinbase has expanded into Australia. “Customers in Australia can now buy Bitcoin and Ether using their credit and debit cards,” the company says. “Please note that at this time, users in Australia can only buy digital currency. We hope to add the ability to sell digital currency as well soon.” Coinbase added PayPal and credit card support in June 2016.
July 5th, 2016
The total value of Bitcoin transactions is expected to exceed US$92bn this year, up from less than $27bn in 2015, Juniper Research predicts. “Transaction volumes continued to be concentrated overwhelmingly on the exchanges, with Bitcoin now trading at values almost 50% higher than at the beginning of the year,” the firm says.
June 27th, 2016
Bitcoin wallet Coinbase has added support for PayPal and credit cards. “Through this integration, Coinbase users are now able to sell Bitcoin and have their USD funds deposited to a PayPal wallet,” Coinbase says. “To start, we’re offering PayPal cash-out for US users only. In the future, we hope to add support for other countries, and to support buys through PayPal as well. Both services are currently in beta. We’ll invite more users to each service over the next few weeks.”
January 12th, 2016
Mintchip, the digital currency developed and field tested in an NFC payments pilot by The Royal Canadian Mint, has been acquired by Loyalty Pays Holdings Corporation, a subsidiary of NanoPay. “NanoPay is now focused on expanding partnerships with central banks, commercial banks, telcos, acquirers, retailers as well as developers and POS providers that will further expand the utility and acceptance of MintChip,” the loyalty and payments platform provider says.
November 17th, 2015
Startup Plutus is inviting consumers to take part in the alpha release of a Bitcoin mobile wallet that allows POS transactions via NFC. “It is powered by a Decentralised Exchange Network (DEX), which traders can use to buy and sell Bitcoin in return for fiat at the checkout,” the company says. “Merchants do not need to directly accept any digital currencies and customers can convert their balance into fiat on-the-go.”
February 27th, 2015
The Bank of England is consulting external experts on research designed to help set future policy which includes considering the effects of issuing its own Bitcoin-like digital currency. The One Bank Research Agenda discussion document, which aims to transform the way research is done at the bank, explains that the rise of digital currencies “has potentially profound implications for a financial system whose payments mechanism depends on bank deposits that need to be created through credit,” and goes on to ask what the impact on existing payment and settlement systems would be should it introduce its own digital currency in future.
January 8th, 2015
Business productivity management specialist RedCritter has unveiled a platform for schools that recognises, rewards and socialises students’ learning achievements via NFC and QR codes.
April 8th, 2014
The Royal Canadian Mint is halting development of its MintChip digital currency and is now looking to sell the business. The company has been piloting the currency in the cafeterias at its Ottawa and Winnipeg…
February 20th, 2014
The Royal Canadian Mint is piloting its MintChip digital currency in the cafeterias at its Ottawa and Winnipeg facilities — and is using NFC technology to enable employees to make purchases with the Bitcoin alternative….