Payments Firm Backs 'Crazy' Offline Bitcoin Transactions Experiment
As an Internet-based payment system, most bitcoin transactions today necessitate that users are online or otherwise can print and exchange private keys. However, Romanian mobile payments provider Netopia mobilPay is now backing a proposal that strives for a middle path. Called OffCoin, the proposal is for a system that allows microSD cards in mobile phones to generate, store, transmit and delete bitcoin private keys. In effect, OffCoin would be capable of moving digital currency between mobile phones without requiring users to be connected to the Internet or needing to pay the cost of....
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Most bitcoin transactions these days require users to be online in order to input their public and private keys before accessing their funds and authorizing transfers. OffCoin proposes to make offline bitcoin transactions possible by allowing keys to be stored in microSD cards in mobile phones in order to transmit private keys without going online. With that, OffCoin can be able to move bitcoin between mobile phones even without needing to pay the costs associated with accessing the blockchain. This could allow bitcoin transactions to take place through Bluetooth, NFC, or QR codes. Offline....
A look at my hands on experience learning to use the BitsharesX platform. Now that BitsharesX seems to have settled into it’s new equilibrium at around 7,600 Satoshi per unit it seemed like a good chance for me to dive in and see what the BitsharesX platform is like and exactly how this whole “BitAssets” concept works in practice (while also researching how it’s supposed to work on paper). Which brings me to my first point about BitSharesX, in that no one has ever done this sort of thing before. In truth it’s a wonderfully grand experiment. An enticing, amazingly audacious experiment but....
Offline CBDC functionality will help bring financial services to Ghanans who lack access to bank accounts or an internet connection. Ghana is working to develop offline capabilities for its forthcoming central bank digital currency (CBDC) in a bid to promote its use across all segments of Ghanan society.According to a Oct. 18 report from Bloomberg, Kwame Oppong, head of fintech and innovation at the Bank of Ghana (BoG), revealed that the country's digital currency “e-cedi” will support offline transactions during the Ghana Economic Forum on Monday.Oppong emphasized that offline....
“Bitcoin was a darling, now it’s the underlying blockchain.” That’s the perspective of the payments industry toward the distributed financial technologies space, according to Jason Gardner, CEO of payments-as-a-service provider Marqeta. The startup, which raised $25m in October, was one of the earlier payments firms in the space to experiment with digital currency, working with Ripple on a defunct debit card product that would have allowed users to spend cryptocurrency at traditional points of sale. Marqeta touts a cloud-based and API-driven processing platform for online and offline....
Although more and more online merchants are getting used to the idea of accepting bitcoin payments, others feel discouraged by the volatility and lack of security for the cryptocurrency. In their new partnership, GoCoin and Tether aim to address these issues in pushing for increased mainstream acceptance of digital currencies. By teaming up, GoCoin can now allow its current merchants to transact with Tether in US dollars. The Japanese yen and the euro are also being eyed as part of this platform. In addition, fees associated with dealing in fiat currencies through traditional payment....