As Planned, Neo & Bee Branch in Cyprus Opens its Doors
As we noted on Sunday, Cyprus-based Neo & Bee has carried out the launch of their first (and flagship) branch in the Engomi suburb of Nicosia. This bitcoin financial services company is the first of its kind, opening physical bank-like branches to make interacting with the complex digital currency simple. The launch has been highly-publicized in the nation, from TV to paper press, billboards, and general word of mouth. With today's launch come three new products (as noted yesterday): The Instant-Access Bitcoin Wallet will be a standard bitcoin wallet that allows users to store their funds.....
Related News
The world's first brick-and-mortar bitcoin deposit and financial services portal, Neo, opened the doors to its flagship branch in Cyprus at 10:30am local time today. Neo is the 'bank-like' arm of bitcoin business twins Neo & Bee, with Bee serving as the payment processing network. Cypriot residents will have access to services "allowing them to interact with their money like they would with Euro deposits in any traditional bank", including deposit, savings, business and merchant accounts. If successful, Neo promises to engrave 24th February 2014 as a landmark date in bitcoin's history.....
Neo & Bee Chief Danny Brewster is apparently wanted by authorities, according to a report on Friday from the Cyprus Mail. Brewster, who recently left the country in search of investors for his failing business is wanted on suspicion of fraud. According to a Cyprus Mail source, Brewster is "a person of interest in an ongoing investigation". Brewster was assumed to have fled the country and run off with customer money not terribly long ago, but spoke up and said he was actively looking for investors to save the business. Alleged threats against his daughter, he says, kept him out of Cyprus.....
Cyprus was long used as an offshore haven for fiat currencies, but the financial crisis of 2012-2013 culminated in massive levies on uninsured bank accounts in Cyprus with deposits of at least 100,000 euro. That was in the spring of 2013, and the so-called “bail-in” shook many people’s confidence in the security of their fiat wealth. Bitcoin’s value against fiat currencies took off right around this same time, leading many to conclude there was a significant causal effect. Since then, Cyprus has become a hotbed of Bitcoin and cryptocoin activity. The University of Nicosia began accepting....
RollJam, a contraption put together by a security researcher for less than $50 can unlock car and garage doors at will by exploiting digital keys, also known as rolling codes.
According to the latest news from Reuters, the government of Cyprus, the Bank of Cyprus and international lenders have come to an agreement that will recapitalize the bank and allow it to remain solvent: all depositors at the bank will have 47.5% of all funds above the deposit insurance threshold of $100,000 seized to pay for the bank's bad debts. Originally, 37.5% of all funds above the threshold were deducted and an additional 22.5% temporarily frozen in case of additional emergencies; now, if this agreement goes as planned an extra 10% coming from the frozen funds will go towards bank....