US to Weaken Regulations for Digital Currencies, Blockchain by 2017

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The US government has called for the formation of a “responsible innovation” fintech department to spur the growth of emerging technologies including cryptocurrencies, the Blockchain technology and other financial technologies that could enhance existing financial systems. US regulatory body the Office of the Controller of the Currency (OCC), which previously expressed their optimism towards digital currencies and the Blockchain technology, is planning to launch three offices in Washington, New York and San Francisco led by a chief innovation officer. The 30th Comptroller of the Currency of the United States, Thomas J. Curry, stated: “The OCC supports responsible innovation that enhances the safety and soundness of the federal banking system, treats customers fairly and promotes financial inclusion […] we are ensuring that institutions with federal charters have a regulatory framework that is receptive to responsible innovation.” Effect on Blockchain startups While it is still difficult to speculate the impact of the OCC’s plans on Bitcoin and alternative cryptocurrencies, it will hugely affect the operations of Blockchain and distributed ledger startups that are collaborating with banks and major financial institutions. The OCC states that the formation of a responsible innovation department will allow the organization to “identify, understand and respond to financial …

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

admin Bitcoin Bank, Bitcoin Politics, Bitcoin Regulations, Bitcoin Startups, Bitcoin Venture Capital, In the News, Institutions & Corporate Client Safeguards, Technology, The Future Of Money 0 Comments

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 …

Voxelus Raises US$500,000; Announces Unique Bonus and Rewards System

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Virtual reality content creation platform and marketplace Voxelus has announced a unique bonus and rewards system for cryptocurrency enthusiasts and buyers of its in-game digital currency Voxel, after raising US$500,000 in the first day of its 30-day token crowdsale. The crowdsale of Voxel will be distributed into 3 phases that will last until December 2, 2015. Early buyers and participants of the crowd sale will be able to purchase the digital currency for as low as 1200 voxels per bitcoin. As the crowd sale progresses however, the price will increase gradually and the tokens will eventually be sold at 750 voxels per bitcoin, 7.5% higher than the initial rate. The 30-day crowdsale is currently being facilitated by instant cryptocurrency exchange ShapeShift, the company which also recently facilitated a series of crowd sales for blockchain-based cards trading game Spells of Genesis and Ethereum-built decentralized prediction market Augur. According to the Voxelus team, the company is offering 15% of all possible voxels during this crowd sale. The remaining 85% will be gradually released over the next 20 years, which will be allocated for software development, content creator bounties and marketing. “Voxels are the official currency of virtual reality,” claimed Voxelus chairman and …