30 WAYS BITCOIN CHANGES THE FUTURE OF MONEY FOREVER

admin Bitcoin, Bitcoin 2.0, Bitcoin Crowdfunding, Bitcoin News, Blockchain 0 Comments

Money may be digital all over the Western world, but it now has some real competition, and competition always helps the consumer. Bitcoin is not going to become the primary global currency, but it will force the rest of the world to catch up to what Bitcoin can do for every person who uses it. Bitcoin provides many unique features that the world is just starting to get a taste of, and will soon come to expect in all other currencies. Here’s a list of just 30 ways Bitcoin innovations are changing the way people will see, and use, money from now on. Peer-to-peer currency You don’t need a government to have money anymore. Bitcoin is a money of The People, for The People. It’s the money of you and me. There have always been local currencies, since people were trading eggs for milk. Now you can trade money digitally. No animals, printing presses, or interest rates needed. Massive information transfer capabilities Technically speaking, money is speech, according to the U.S. Supreme Court, and information. A bitcoin can send one thousand bits of information with secure encryption. Send pdfs, digital files, combinations, and more in complete security. Public transaction ledger The …

How Bitcoin Empowers Global Peer-to-Peer Lender BTCJam

admin Banking, Bit Resources, Bitcoin 2.0, Bitcoin Crowdfunding, Bitcoin Entrepreneur, Bitcoin Lending / Loans, Bitcoin News, Bitcoin Startups, Loans & Lending, P2P Lending, Peer-to-Peer 0 Comments

San Francisco-based startup BTCJam is taking peer-to-peer lending to a global audience, and is using bitcoin to achieve its vision. Bypassing the restrictions of fiat currencies, the company says, allows any individual in the world to receive a loan via its platform. While traditional wire transfers are costly and not always easy to set up, bitcoin allows approved BTCJam borrowers to receive funds almost instantly, wherever they may live and whether or not they have a bank account. Celso Pitta, the company’s CEO, told CoinDesk: “We are a global lending platform. We use bitcoin as a payment method to enable international, cross-border lending.” BTCJam CEO Celso Pitta talking about his startup at CoinSummit. Source: CoinSummit From banker to bitcoin entrepreneur Pitta, who hails from Brazil, had prior experience in the finance industry before starting BTCJam: “I worked for Citibank. Knowing banking from the inside, I knew that I could do better: a peer-to-peer lending website.” However, Pitta reached his first stumbling block when he discovered the penalty for starting an unlicensed money-lending service in Brazil. “I noticed that if you do [lending] in Brazil, you will go to jail for 10 years,” he said. As absurd as that might sound to some, this potential roadblock is …

Two Bitcoin Companies Make the Fox Business List of 30 Hot Fintech Startups

admin Bitcoin, Bitcoin Crowdfunding, Bitcoin Entrepreneur, Bitcoin Lending / Loans, Bitcoin Politics, Bitcoin Services, Bitcoin Startups, Bitcoin Venture Capital, Buying Services For BItcoin, Featured, Investors, Micro Payments, P2P Lending, Payment Solutions Providers, Social Networks 0 Comments

Fox Business published a list of 30 top fintech startups to watch in the Bay Area. The list includes two Bitcoin companies that offer simple and effective solutions for important real-world problems. BTCjam allows users to invest their bitcoin and earn a high rate of return. This process is secure and allows investors to participate in peer-to-peer lending. BTCjam is also a great place for those seeking loans, and especially for the residents of developing countries without a national credit scoring system who are subject to aggressive predatory lending practices when they need to borrow money from traditional lenders. Using cryptocurrencies such as bitcoin, and tapping foreign lenders, helps BTCjam avoid regulatory issues, TechCrunch reported in 2014. “We are one of the first real use cases for bitcoin,” said founder Celso Cardoso Pitta Jr. “Today people circle around buying and selling of bitcoin, but I don’t think bitcoin increases in value because it’s a commodity or a currency. It needs to be useful.” BTCjam is a marketplace where people from around the world connect to borrow and lend using bitcoin. By the end of 2014, the company had facilitated bitcoin loans in excess of $10 million dollars in value with …

Bitcoin API Startup Gem Raises Funding Total to $3.3 Million

admin Bitcoin, Bitcoin 2.0, Bitcoin Crowdfunding, Bitcoin News, Bitcoin Startups, Crypto 2.0 0 Comments

Californian bitcoin API developer Gem has announced an additional $1.3m in funding, raising its total to $3.3m. The round was led by KEC Ventures, with additional contributions from First Round Capital, RRE Ventures– also an investor in 21 Inc and Abra – and early Facebook investor Robert Wolfson, among others. Gem closed its previous round in September last year after receiving funds from Mesa Ventures, Idealab, James Joaquin and Brock Pierce’s investment firm, Crypto Currency Partners. A spokesperson for the platform said the newly acquired funds would be used to accelerate feature development and scale Gem’s services for developers worldwide. Multi-sig wallet  Gem’s funding coincides with the launch of its multi-signature wallet API, which is now publicly available following a series of improvements. Approximately 40% of people using Gem’s API are from outside the United States – dispersed throughout Europe, Asia and South America. The new API aims to ease integration for this worldwide user base, while providing added security measures to protect bitcoin wallets and keys. Ken Miller, COO at Gem, said the security improvements had taken “massive amounts of time and energy to bring to the market”. However, he added: “It just was not an area we were willing to compromise.” The system now uses Hardware Security …

Factom Raises $140k in First Day of ‘Software Sale’

admin Bitcoin 2.0, Bitcoin Crowdfunding, Crypto 2.0 0 Comments

Factom has raised 579 BTC, or roughly $140,000, through the first day of its crowdsale. The blockchain-based record-keeping network launched its crowdsale yesterday at 17:00 UTC on decentralized application platform Koinify, offering 2,000 Factoid tokens (FACTs) for every 1 BTC pledged by prospective users. The pricing values Factoids at the same initial asking price as Ethers, the token sold during decentralized publishing platform Ethereum’s 2014 crowdsale that eventually garnered upwards of $12.7m. Factom Foundation board chairman David Johnston pointed to the fact that the project had sold more than 1m facts in the first day as another indicator of its success. Johnston told CoinDesk: “I believe this first day of software sales for Factom shows there is strong interest in technology that is focused on scaling the blockchain and providing its features of transparency and honesty to whole new categories of businesses.” The $140,000 in first-day sales surpasses the $111,000 decentralised messaging service GetGems raised during the first two weeks of its invite-only sale, the first to be held on Koinify’s platform last December. Upon launch, Factoids will serve as the payment method users will need to communicate with Factom’s servers. Factoids will run on their own blockchain within Factom. The “early bird” …

Why a New SEC Ruling Could Be ‘Revolutionary’ for Bitcoin Crowdfunding

admin Bitcoin 2.0, Bitcoin Crowdfunding, Crowdfunding, Crypto 2.0, US Securities and Exchange Commission (SEC) 0 Comments

Jared Marx is an attorney at Washington, DC law firm Harris, Wiltshire & Grannis. He advises companies about bitcoin-related regulatory law and represents companies and individuals in civil and criminal proceedings. Here, he discusses why a new securities ruling is a potential boon for ‘crypto 2.0‘ and ‘bitcoin 2.0’ companies operating in the US. On Wednesday, the US Securities and Exchange Commission (SEC) adopted regulations permitting crowdfunding for business startups. The new rules give businesses in the blockchain ecosystem an avenue to get financial backing from the best-educated investors out there: their users. I wrote last week about the challenges that ‘bitcoin 2.0’ companies face from the squishy definition of a “security” under US law. These new rules don’t resolve that ambiguity, but they do create a low-cost safe harbor for businesses that want to avoid uncertainty (and possible criminal exposure) by simply treating their token sales as sales of securities. Here’s how it works: prior to these rules, a company could generally sell securities only to wealthy individuals or after going through expensive registration with the SEC. Now, companies can file a mini-registration statement with the SEC and then sell securities to ordinary people, including over the Internet. As …