Digital Currency Security: In Bitcoin We Trust?
Bitcoin has been in existence for more than six years already, yet it seems like the system is having a tough time securing the trust of the general public. After all, the cryptocurrency has gained a bad reputation for being used in underground markets and money laundering activities, and it doesn't help that some bitcoin exchanges like Mt. Gox have suffered hacking attacks and have ultimately shut down. While governments and states are trying to come up with legislation to oversee this industry and protect consumers, many are still doubtful that digital currency security can be....
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Digital Currency Group’s Grayscale recently announced the Ethereum (ETC) Investment Trust or EIT. Barry Silbert, CEO and Founder of Digital Currency Group (DCG) is the man behind this effort. On the Grayscale website, the trust’s description reads: “Ethereum (ETC) Investment Trust allows investors to gain exposure to the price movement of Ethereum Classic through the purchase of a titled security.” What’s in a name? The problem seems to be the use of the word “Ethereum” in the name of EIT. While the Ethereum foundation is the trademark holder of Ethereum the brand, the currency has split....
Few consumers are using digital wallets - just 2% according to recent data from Gallup - and those who don't say concerns about security are the reason. Despite enthusiasm among financial tech observers and investors for digital wallets, it seems few users are enthused. Other studies suggest that while many consumers have heard about mobile wallets, overall adoption is low. New data released by Gallup adds to this canon, finding little interest for digital wallets - software that ostensibly enables easier payment via electronic means. Why? Fifty-five percent of those who don't use digital....
Only 2.3% of Americans would trust bitcoin to send funds overseas in an emergency, according to a new survey by the Digital Currency Council. By contrast, 30.3% of the 750 regular Americans sampled would trust their banks to make international transfers. 23% of the people surveyed said that they would use Western Union, whilst 22% thought Paypal was more trustworthy. MoneyGram would be used by 6% and the Postal Service by 10% of those questioned. Commenting on the results, David Berger, CEO of the Digital Currency Council, which runs a series of 'Pulse Reports' on public perceptions of....
Americans overwhelmingly trust job titles referencing "digital currency " over "virtual currency," "bitcoin," "cryptocurrency" and "litecoin," according to a survey by the Digital Currency Council (DCC) this month. The survey was conducted March 8 and used a representative sampling of 506 people across the U. S. and was conducted by DCC via Google Insights polling. The DCC announced the survey results in its recent "Pulse Report" on public perceptions of bitcoin and digital currencies. The term "digital currency professional" was preferred by 41 percent of respondents, which more than....
Grayscale is dissolving its XRP Trust and will distribute cash to investors after liquidating all XRP held by the trust. Institutional crypto-fund manager Grayscale Investments has begun the dissolution of its XRP Trust in response to the Security and Exchange Commission’s December 2020 lawsuit alleging the XRP token is a security under U.S. law.According to an announcement published Wednesday, Grayscale decided to dissolve the trust in response to the spate of XRP delistings from major crypto-asset exchanges after the SEC’s complaint was filed. Grayscale concluded: “It is likely to be....