4 Reasons Why Your Nation Will Kill Cash For A Digital Currency

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Yes, I’m talking to you. Yes, I’m talking about your country, whether it is Russia, China, or the United States. The more modern and advanced your economy, the faster it is coming your way. The discussions have been going on for a couple of years now on how to do it. The only question is when to spring it on the masses. If you are in a less than a state-of-the-art economy, like Pakistan or Guam, you probably have a lot more time left with the paper. Most of us aren’t so lucky. Cash has been on the clock in the most advanced nations for years, with central banks limiting how much cash you can get, even from your own account. Limits have been dropping to as low as 5000 units of paper in some nations, and even then you will have to surrender your ID or go through some level of interrogation. The future of money does not include paper, and here are four reasons why digital currencies will become your official national currency. Reason #1 – The best way to control a nation is to control its money supply Governments are all about control. Whether it is doling out …

Gyft Unveils New Tech for Blockchain-Powered Gift Cards

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Gyft and bitcoin API developer Chain have partnered to create Gyft Block, a trading platform aiming to make gift cards easier to exchange. Announced at Belfast’s MoneyConf, the news marks Gyft CEO Vinny Lingham‘s latest step in transitioning his mobile gift card company from one of bitcoin’s most active merchants to a more direct supporter of its underlying technology. Gyft Block is part of Gyft’s broader mission to digitize gift cards so that they can be securely traded using bitcoin’s public ledger, the blockchain. Termed ‘gift cards 2.0’, the ambitious project was first revealed at SXSW in March and followed Lingham’s own involvement as an advisor and investor in so-called ‘crypto 2.0’ firms, including Koinify and Trustatom. A statement from Gyft implied that the platform could solve real problems for the $100bn gift card market: “Consumers can redeem different forms of digital value in a single transaction: for example, a consumer can buy a cup of coffee by combining a gift card, branded reward point, and coupon, since all blockchain-based digital assets operate on the same open standards.” In an accompanying white paper, Gyft’s head of special projects Guillaume Lebleu suggests Gyft Block would seek to establish a common API for gift card issuers that more closely replicates …

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

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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 …

Billionaire Investor Reid Hoffman Is Betting Big on Bitcoin

Why Billionaire Investor Reid Hoffman Is Betting Big on Bitcoin

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Reid Hoffman has an expert eye for promising tech startups. The LinkedIn chairman and co-founder’s early stakes in Facebook, Airbnb and Dropbox prove he’s able to see the next big thing before most of us even know what it is — and it’s paid off for him time and again. These days, the so-called “startup whisperer” is placing his bets on Bitcoin. As a full-time partner at venture capital firm Greylock Partners, he claims his primary focus is to invest in “world-class entrepreneurs with new categories of ideas with the possibility of massive scale.” One of those entrepreneurs is Wences Casares, co-founder of Xapo, an ambitious, Palo Alto, Calif.-based Bitcoin wallet and storage startup. With Hoffman leading the charge, Greylock invested $20 million in Xapo last year. “Bitcoin has the potential to be a massively disruptive technology,” Hoffman wrote in a post announcing the investment last July. “It is the leading digital currency and it’s growing fast.”   Then, in November — a month before Bloomberg declared Bitcoin the worst-performing currency of 2014 — he announced a hefty personal stake in Bitcoin that he brokered, a $21 million investment intoBlockstream. The Montreal-based startup aims to improve upon Bitcoin’s blockchain backbone, …