How Bitcoin Empowers Global Peer-to-Peer Lender BTCJam
San Francisco-based startup BTCJam is taking peer-to-peer lending to a global audience, and is using bitcoin to achieve its vision. Bypassing the restrictions of fiat currencies, the company says, allows any individual in the world to receive a loan via its platform. While traditional wire transfers are costly and not always easy to set up, bitcoin allows approved BTCJam borrowers to receive funds almost instantly, wherever they may live and whether or not they have a bank account. Celso Pitta, the company's CEO, told CoinDesk: "We are a global lending platform. We use bitcoin as a payment....
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BTCJam has suffered an apparent security breach that affected an unknown number of users. The peer-to-peer lender was quick to reassure its clients that no bitcoins had been lost from their accounts. A spokesperson said the incident was the result of a hack at its email provider, which allowed the attacker to access funds belonging to customers with low security settings. BTCJam started experiencing some issues over the weekend and was offline on Sunday. We are offline to resolve some technical issues with logging in. We would like to assure you that no Bitcions were lost in this process.....
Brilliant minds around the worth are continually exploring the options and possibilities associated with Bitcoin technology. One of the things where Bitcoin could play a major role is in the world of finance, as digital currency works the same way around the world, regardless of any country borders. Could micro-financing become a future use case for Bitcoin? Let’s find out. It is not the first time Bitcoin is mentioned in the same sentence as peer-to-peer lending. In fact, there are several platforms in existence doing just that, such as BTCJam for example. But one the key issues with....
BTCJam is a peer-to-peer bitcoin lending platform that has seen some successful bitcoin businesses born from its womb. Last night, reports started surfacing on Reddit that the site had gone down and immediately previous to that, some users saw their accounts emptied. The site has since been restored and the CEO has stated emphatically that no users will lose their coins. The CEO also has not confirmed this as a hack, noting only that they noticed some “invalid transactions[.]” He also stated that BTCJam keeps the vast majority of their holdings in cold storage. We are offline to resolve....
Patrick Murck, executive director of the Bitcoin Foundation, has joined the board of advisors of BTCJam - a bitcoin-powered peer-to-peer lending network. Celso Pitta, BTCJam's CEO, said: Patrick's legal expertise and bitcoin knowledge are absolutely essential to our mission of expanding access to fairly priced credit everywhere. Murck, who took over as executive director of the foundation following Jon Matonis' resignation last October, has "an impressive legal background" and was recently named one of America's Top 50 Outstanding General Counsels by the National Law Journal. He said: "I....
Peer-to-peer bitcoin lending platform CredibleFriends has successfully pitched on BnkToTheFuture, where it has already raised $51,000 or 20% of its funding goal. P2P Lending ‘Ready for Version 2’. CredibleFriends, which allows friends to lend each other money based on trust and aims to spread bitcoin use among lay consumers, is aiming to raise $250,000....