SABR.io Identifies Illegal Activity on Blockchains, Willing to Work With Law Enforcement

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Blockchain analytical tools and services are both a blessing and a curse, according to Bitcoin industry experts. The Bitcoin community is divided into two camps: those who embrace the transparent aspect of the blockchain and financial transactions, and those who want to use anonymizing services to cover their tracks. Unmasking Bitcoin transactions could throw a monkey wrench into the plans of that second category of users, and Sabr.io aims to do exactly that.   SABR.io – Identifying and Locating Criminal Activity The business model associated with the Sabr.io service is noble and honorable, as the company wants to eliminate any criminal activity associated with virtual currencies. Achieving that goal will not be easy, yet Sabr.io is confident in their ability to monitor multiple blockchains and detect any discrepancies or strange behavior. But that is not all, as SABR will also integrate data from public and proprietary sources. All of this is made possible thanks to the company’s unique and strategic partnerships in the digital currency world, which provide SABR with information that would otherwise be inaccessible. Collaboration with law enforcement to track down illicit Bitcoin users will be a major step forward towards legitimizing digital currency. Gathering all of this …

Our Mixing Services Compounding Bitcoin’s PR Problem?

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Many people are drawn to Bitcoin and virtual currencies for the illusion of being able to move funds around in an anonymous way. However, with the blockchain acting as a transparent ledger, there is no such thing as anonymity in the Bitcoin space. Unless Bitcoin users actively use mixing and anonymizing services, that is. But do these services harm Bitcoin’s public image, or are they beneficial to the ecosystem?   Bitcoin Mixers and Anonymizing Services: Even More PR Problems The transparency associated with Bitcoin and other virtual currencies is something companies are more than happy to embrace. Accounting becomes a lot easier, and there is no way to hide any illegal activity on the blockchain. Plus, there is still a certain level of pseudonymity, as all Bitcoin users are identified through a wallet address, without publicly exposing any personal information. Despite all of these positive features, Bitcoin still has a public relations problem, as most people see the virtual currency as a safe haven for money laundering, fraud, and illegal trading. Such a train of thought is quite odd, as Bitcoin is not anonymous and is one of the worst possible options to launder money. Additionally, there is no chance …

Bitcoin Companies Are Compounding the Bitcoin Hoarding Problem

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Bitcoin hoarding has been dubbed as one of the “major problems” hampering the adoption growth of this disruptive digital currency. While there are over 14 million bitcoins in circulation at the time of publication, only a fraction of that amount is changing hands on a regular basis. As a result, there are a lot of coins not moving to different owners, leading to various addresses “hoarding” bitcoins. Also read: New Economy Movement Focuses on Equal Opportunities Consumers not Incentivized to Spend Bitcoin One of the more common reasons for the Bitcoin hoarding problems can be blamed on lack of incentives for consumers to spend Bitcoin. While merchants are reaping the benefits from paying lower transactions fees on Bitcoin transactions, the everyday consumer is still paying the same amount for goods and services, rather than receiving a discount. On top of that, the number of merchants accepting Bitcoin payments is still fairly low, despite that number increasing over time. Despite there being lower transactions fees for merchants, as well as the option to has Bitcoin transactions converted to fiat currency and receiving the money in their bank account the next business day, most people are still wary of Bitcoin. At this time, …

NanoCard Crypto-Debit Card Aims to be Bitcoin’s Killer App?

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One of the most coined phrases in the past two years is whether or not we will ever discover “Bitcoin’s killer app”.  Every major technological innovation has one “killer app” to gain mass adoption and mainstream adoption.  In the case of Bitcoin, the search for this “killer app” is far from over.  Yet there are some candidates wanting to claim that title right now. The Bitcoin NanoCard – Not Your Average Prepaid or Debit Card A little while ago, Danish cryptocurrency exchange CCEDK announced the Bitcoin NanoCard.  This project is made possible thanks to a strong partnership with other parties, including Bit-X, Cryptonomex, and BitShares.  But what makes this Bitcoin NanoCard different from traditional prepaid and debit cards? One thing that makes the Bitcoin NanoCard so interesting is how it bridges the gap between disruptive digital currency and existing financial infrastructure.  Giving consumers an option to spend their Bitcoin wherever major credit cards are accepted is beneficial to the consumer, which will help raise awareness of Bitcoin usage. However, the Bitcoin NanoCard does not need to be pre-funded before it can be used to spend Bitcoin.  As a result, consumers can convert their Bitcoin to fiat currency value at the time …

Why This Internet Pioneer Believes Bitcoin Has the Power to Break the Cycle of Poverty

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When millionaire Wences Casares speaks of poverty, and he often does, he’s not blowing hot air. He’s speaking from firsthand experience. The Argentina-born serial Silicon Valley startup investor and bitcoin entrepreneur grew up on his parents’ sheep ranch, 20 miles from the nearest neighbor and 100 miles from the nearest town. Isolated in the rugged Patagonia region, he watched his family lose their life savings, not once but three times due to hyperinflation. “I remember my parents losing everything,” Casares told TechCrunch. “I was 14.” Bearing witness to his parents’ devastating consecutive losses cut deep, fueling his ongoing global mission to leverage technology to help spare others from similar straits.   He set out to help impoverished and underserved people gain access to critical financial services that often only the well-to-do throughout much of Latin America are privy to. In 1994, at the age of 20, he made history when he founded Argentina’s first Internet Services Provider. In 1998, Casares founded the online brokerage Patagon, an Internet-based financial services portal. The startup was eventually scooped up for a cool $750 million. Casares later launched a successful video game development firm that gaming goliath Activision acquired. He also created a retail bank that grew …