Bringing In and Breaking Out: 10 Bitcoin and Blockchain Predictions for 2017

Bringing In and Breaking Out: 10 Bitcoin and Blockchain Predictions for 2017

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Blockchain had a good run in 2016 with a lot going on, including over $1.5 bln invested in startups, Bitcoin breaking out of the $700 resistance level and the likes of IBM and Microsoft betting the shop on this new pervasive technology. We saw Barclays Bank’s first live commercial banking transaction, Hyperledger’s very promising Corda technology coming of age and, of course, more attacks requiring more forks. In addition, the Scaling Conference in Milan showcased some amazing projects that bode well for Blockchain’s amazing future. So what does 2017 hold for the Bitcoin Blockchain? On par with gold Bitcoin will continue its rise from its three-year high to reach parity with gold, continuing the trend post the devaluation of the yuan, the withdrawal of large Indian notes, as well as the Trump and Brexit effect. Breaking out As 2016 was the year of the Proof of Concept, 2017 will be the year when Blockchain breaks out of the lab and into production environments. Forks Ethereum will continue to fork under constant attacks and will get stronger as Casper comes of age. Furthermore, Ether will continue to struggle to break through the $1 bln market capitalization. Smart contracts Banks will try …

Medical Marijuana App Solves Industry’s Cash-Only Payments Problem

Medical Marijuana App Solves Industry’s Cash-Only Payments Problem

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It is no secret that the medical marijuana industry in the United States faces an uphill struggle, indeed our readers will remember that we covered the issue in detail recently and discussed how dependence on cash is putting both medical marijuana businesses as well as consumers at a great deal of risk. It is interesting to note that there have been developments in this field and there is now a payments solution at hand for regulated medical marijuana businesses as well as customers. CanPay has recently announced a solution for the legal marijuana industry that has become available to users as well as businesses in the states of Washington, Oregon and Colorado. If this solution does indeed get adopted en-masse, it promises to solve the industry’s cash-only problem. Why no banking love for marijuana The problem in the United States arises from the dichotomy in laws. While in many states the use of medical marijuana is now allowed, federal law still acts as a spanner in the wheel. The banking industry is thus wary of being on the wrong side of federal law and the industry is largely unorganized. Consumers who want to access medical marijuana in states where it …

Jerry Brito of Coin Center: Give Bitcoin 5 Years to Do What Google, Facebook Did

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Jerry Brito, the executive director of Coin Center, which has been advocating for the advancement and free use of Bitcoin and other cryptocurrencies, says Bitcoin still needs about five more years to be powerful. Coin Center is a Washington think tank that studies the Blockchain and digital currencies. Brito, who has been involved in advising the government to take a light regulatory approach as the technologies evolve, thinks that now is the best time to get involved in the cryptocurrency. Jerry Brito has been a vocal Bitcoin advocate since 2014 when he launched Coin Center as an independent nonprofit research center, focused on the public policy issues facing cryptocurrencies. He said in Chedder Live that: “If we compare Bitcoin to the early internet, we didn’t get the real Web until the mid 1990s with the introduction of Netscape and it took five more years before we got Google to make the Web useful and it wasn’t until five years after that that we got Facebook and Netflix and things that we take for granted today. So where are we today? Look, I think we are five to ten years from the true kind of power that everybody is expecting. But …

“Make Something People Want”: How Blockchain Has Become a Fetish

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Desire for an entity that is believed to convey supernatural powers, eliciting a condition of intense excitement. We call this fetishism. An old idea is that our consumer society is afflicted by a fetish for commodities, coveting the trappings of a phantasmagoric existence. More recently the idea of “Blockchain” has emerged as an object of contemporary fetish. We’ve heard that it’s bigger than the Internet itself! It’s, almost, bigger than The Beatles! Given this state of affairs one might start to wonder – from whence did this adulation of Blockchain arise? The situation is analogous to the great technological fetish concept of “artificial intelligence” and the never ending stream of dubious research and claims it provokes, in stark contrast to the more somber and practical field of machine learning, which is more firmly rooted in the realm of the empirically possible. As the idea of Bitcoin and cryptocurrencies becomes more normalized, they cease to function as a tabula rasa upon which we can project our wildest fantasies and increasingly we turn to the idea of Blockchain to satisfy this need. In order for a technology to catch hold of the collective unconscious (kollektives Unbewusstes) in the fantastic way that the …

Bitcoin ATMs Are Popping Up in Great Numbers Across the US

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Since the beginning of the summer, there’s been an influx of Bitcoin ATMs (or “BTMs”) installed across the US. The past few months saw almost 20 new machines appear. Also read: The Bitcoin ATM: The Improved Teller Machine EasyBit Adds Six BTMs Across the US The EasyBit BTM network announced it has installed six new machines across four states. Headquartered in the US and Argentina, EasyBit has been gaining steam. The firm’s installed its first BTM at a Thai restaurant in Amsterdam. Now, the company operates 35 machines in nine countries. EasyBit uses both GenesisCoin and CoinOutlet cryptocurrency automated tellers. The six new BTMs are in Texas, Hawaii, Georgia, and Utah. Since its founding in 2013, EasyBit has become a reputable provider of Bitcoin-powered automated tellers. Michael Dupree, CEO, and founder of EasyBit, said at the latest install announcement: We’ve observed that adding a bitcoin ATM greatly improves bitcoin adoption in these communities. Our host locations often see better foot traffic and increased revenue after putting in a bitcoin ATM, making it a win-win for everyone. ATM Provider Athena Bitcoin Continues to Grow Another Bitcoin-based ATM operator is a growing US company called Athena Bitcoin. The Chicago-based company, launched seven new BTMs this past September. Athena Bitcoin has also ramped up …

If Bitcoin Had Sex, Could It Be Female?

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According to a recent survey by the Bitcoin Marketing Team, the digital currency is still largely dominated by men in their early 20s to their late 40s, with a few under the age of 18. CoinTelegraph caught up with Charlene Chen, BitPesa Chief Operating Officer,Stephanie Kent, founder of Krypton, and Susanne Tempelhof, BitNation founder and CEO, to find out what their views are on women in Bitcoin. The Bitcoin community has a diversity problem Here’s one striking figure: 91.8 percent of respondents are male. To paint a demographic picture of the community, the team has surveyed 770 digital currency users from 68 countries. Only 5.7 percent of responses came from women with 2.5 percent choosing not to specify their sex. It shows that more needs to be done to attract women into the niche community of Bitcoin users. While the survey may have only attracted a small number of female respondents that’s not to say there aren’t women in Bitcoin making their mark on the community. You only have to look at the likes of Elizabeth Rossiello of BitPesa, Ola Doudin of BitOasis, Stephanie Kent of Krypton and Susanne Tempelhof of Bitnation, to name a few, to see that positive …