New currency, same blockchain?
Altcoins such as Litecoin and Ripple have proliferated since Bitcoin’s creation back in 2009, but J.R. Willet thinks his currency protocol can work as an add-on to Bitcoin’s blockchain. Willet’s creation, called MasterCoin, would essentially rest on top of Bitcoin, and currencies created via the protocol would all tie back to the original blockchain. This keeps altcoin users from competing financially with Bitcoin and “dilute our efforts,” he said. This allows anyone to create a coin that serves as an analog to an existing currency or commodity — say gold or a US dollar.
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The Digital Currency Summit (DCS) is a debate forum whose objectives are to understand what digital currency means and its implications for banks, governments and investors. DCS commits to organizing events to promote awareness and understanding about the technology. This year the Digital Currency Summit is taking part in a new event - The Blockchain week. The aim of the Summit is to attract bankers, lawyers and politicians from all around the world to debate about important digital currency-related topics such as: How does Bitcoin work? Financial system integration. Identity, Privacy,....
The Institute for Ethics and Emerging Technologies (IEET) has published a brief article advocating the use of blockchain technology. In the article, the IEET describes the blockchain as next-generation information technology with many potential upsides in a number of fields beyond digital currencies. The IEET made a clear distinction between 'bitcoin 1.0' (currency) and other emerging technologies, classified as 'bitcoin 2.0' (contracts) and 'bitcoin 3.0' (beyond currency and finance) applications of blockchain technology. More than just a currency. IEET affiliate scholar Melanie Swan said....
The bigger question is why blockchain technology would not hold such a big appeal for the PBOC anymore. Not too long ago, the Chinese government announced plans to issue their national virtual currency. RMBCoin, as this initiative is called, would see China become the first country to release a national digital currency. As one would expect, the PBOC will oversee the issuance and control of this new currency. However, it appears they may not use blockchain technology for this project after all, which raises a lot of concerns. Especially when considering the PBOC is working on a....
2016 has been the ‘Year of the Blockchain,’ with corporation after corporation, even nations, touting their interest and ability to use Bitcoin’s underlying advancement in their future business models. Will 2017 be the ‘Year of the National Digital Currency?’ Ukraine looks to enter the cashless society with a plan on creating their own national digital currency based on the Blockchain technology, according to Ukrainian news site Ukrinform. Blockchain, the trend in 2016. Major corporations like IBM, and even nations, embracing the Blockchain technology is what’s happening right now, and it....
The chairman of China’s Blockchain Service Network (BSN) Development Alliance Shan Zhiguang, and his colleague, insisted in a recently published op-ed that virtual currency is “undoubtedly the largest Ponzi scheme in human history.” However, they have said the “value of blockchain technology should not be ignored because of virtual currency.”
Opinion Piece Claims 90% of 100 Richest People Have Bad-Mouthed Virtual Currency
The chairman of the Chinese Blockchain Service Network (BSN) Development Alliance, Shan Zhiguang, and executive director He....