Block Chain Technology Offers New Crime-Fighting Options
Edan Yago is CEO of Epiphyte and a founding board member of the Digital Asset Transfer Authority (DATA). Epiphyte develops systems that bridge the gap between traditional financial networks and cryptofinancial networks. The views expressed in the article below are Yago's own, and do not necessarily reflect those of DATA. Last week was a turning point for bitcoin and distributed cryptographic networks. It started with the Inside Bitcoins conference in New York, where it became clear that the bitcoin world is truly starting to live up to its promise of creating the most secure financial....
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As Bitcoin technology evolves and grows past the "early adopter" stage, more and more businesses are entering the space looking to provide the market with innovations based on Bitcoin's block chain technology. Today, there are many businesses that are in perpetual pre-launch, like the vaunted Open Bazaar, who seems to have been on the brink of release ever since Bitcoin was just a whitepaper. The cloud storage industry within the Bitcoin community is still an open door to entrepreneurs, and Sia has stepped forward to fill this market niche. In the mainstream, you have companies like Amazon....
One of the main drives, since Bitcoin began gaining popularity, were the other possible uses of the block chain technology that drives it. Some have found ways to build other data layers on top of the block chain while others have found it possible to use the block chain to secure copyright notices. Everledger has devised a way that insurance companies can utilize the block chain to ensure that the items they are insuring are what they are said to be. This is not entirely secure, in the sense that a dedicated scammer could find a way to modify the actual diamond or what have you that was....
Like the Internet did 25 years ago, Bitcoin and its block chain technology are bringing the next generation of technological advancement to industries around the globe. One industry that certainly needs an infusion of new technology and efficiencies is the banking industry. Major financial companies like Goldman Sachs, NASDAQ, and The New York Stock Exchange have stepped forward to invest and learn what these innovations can do for them. Some are open-minded to bitcoin as a currency, but bankers are looking more at integrating the block chain technology without the currency. Bitcoin and....
Nasdaq hasn't been around Bitcoin's Block Chain very long, but they like what they see and are moving to integrate fully with its innovations. The new technology the block chain provides intrigues Nasdaq enough to begin a larger integration with their product portfolio, and the ability to make new offerings for their clientele. In the second half of 2015, this will allow Nasdaq to create a block chain-enabled digital ledger program for the expansion and enhancement of the Nasdaq Private Market platform. NASDAQ Expands Use of Bitcoin's Block Chain Technology. Their implementation of the....
Nine of the largest investment banks have partnered with a block chain startup to integrate the block chain into financial services. Barclays, BBVA, Commonwealth Bank of Australia, Credit Suisse, JPMorgan, State Street, Royal Bank of Scotland, and UBS all formed a partnership with a block chain oriented firm to create industry standards for using block chain technology in banking. The initiative is led by New York and London startup R3, whose CEO David Rutter spent 32-years on Wall Street. Financial Times has reported Goldman Sachs have also partnered with R3. The block chain is a major....