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

admin Bitcoin Law, Bitcoin Mixers and Anonymizing Services, BlockChain Technology Opinions, Cyber Crime & Cyber Terrorism 0 Comments

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?

admin Bitcoin Mixers and Anonymizing Services 0 Comments

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 …

Why The Block-Chain Matters In So Many Ways!

admin BlockChain Technology Opinions 0 Comments

This article was taken from the June 2015 issue of WIRED magazine. Be the first to read WIRED’s articles in print before they’re posted online, and get your hands on loads of additional content by subscribing online. At least one global cryptocurrency will achieve mass-market adoption. That cryptocurrency will either be Bitcoin or a derivative inspired by it. The chance that it will be the former is so strong that in 2014 I invested in Bitcoin startups Xapo and Blockstream. And yet, perhaps surprisingly, when one of the very smart people I know in Silicon Valley recently told me he’s a major “Bitcoin sceptic” who has not yet seen “many real use cases” for the technology, I considered it a good sign. Why? Because in my experience, the most transformative ideas are not the ones that achieve broad consensus early on. Instead, they’re the ones that are so uniquely out there, so contrarian, that even informed observers have wildly differing opinions regarding their potential value. The internet itself was like this. It started as a strange new parallel universe called “cyberspace” and then became a part of everyday life. LinkedIn, eBay, Twitter and Airbnb were all bizarre concepts at first, …

Bitcoin Companies Are Compounding the Bitcoin Hoarding Problem

admin Bitcoin Merchants, CoinGreed, Crypto News 0 Comments

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?

admin Bitcoin 2.0, Bitcoin News, Crypto News, Technology 0 Comments

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 …

Circle Internet Financial Raises $50 Million With Goldman Sachs Support

admin Bitcoin 2.0, Bitcoin News, Bitcoin Services, Bitcoin Startups, Funding, Investors, Wallets 0 Comments

Bitcoin financial services startup Circle Internet Financial has closed a $50m funding round. The Boston-based company drew support from  and China-based IDG Capital Partners, as well as all of Circle’s pool of existing investors, including Breyer Capital, General Catalyst Partners, and Accel Partners. Tom Jessop, managing director at Goldman Sachs’ Principal Strategic Investments Group, said the bank recognizes the need to invest in companies that “have the promise to transform global markets through technical innovation.” Jessop added: “We think that Circle’s product vision and exceptional management team present a compelling opportunity in the digital payments space.” Quan Zhou, managing director of IDG Capital Partners and Circle board member, said that China in particular, will be a major focus for the company as it looks to further internationalize its services. “We are very excited about our investment and look forward to helping launch the company in the Chinese market where consumer adoption of innovative digital payment products is growing at a tremendous rate,” he said. Circle has also announced the launch of new account features that enable customers to hold, send and receive US dollars. Those funds, according to the company, will be insured by the Federal Deposit Insurance Corporation. The news follows reports from earlier this week that Circle was …