Entrepreneurs Plan Identabit: Identity-Based Bitcoin Alternative
An Australia-based startup has announced plans for a digital currency called Identabit that will enable regulatory acceptance by way of user association. The startup, Thinking Active, characterizes Identabit as the first identity-ensured, decentralized currency. It represents a way to liberate decentralized currencies and will be an alternative to bitcoin, according to a recent press release. Identabit is the result of a collaboration between Thinking Active, owned by New York software entrepreneur John Underwood, and Cryptonomex, a Virginia-based software company led by Dan Larimer. The....
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Australia was so far considered as one of the promising countries when it came to bitcoin adoption. On the contrary, Bitcoin has been going through a rough patch in the region for some time now, creating doubts about Australia's digital currency economy. All hope is not lost, thanks to Identabit. READ MORE: Bitcoin Takes a Back Seat in Australia. Merchants Stop Accepting it. Identabit is as identity based decentralized currency created by a bunch of software professionals. The four member founding team of Identabit consists of John Underwood, Dan Larimer, Paul Neilson and Stan Larimer.....
Perhaps one of the biggest characteristics associated with bitcoin transactions is anonymity, as transaction verification occurs through a complex algorithm instead of checking identities. However, it is also this very characteristic that has made the use of bitcoin prevalent in criminal activity and underground markets, earning the ire of government officials and financial regulators. Australian startup company IDentabit plans on making an identity-based bitcoin alternative in order to help the cryptocurrency get rid of its association with illegal dealings and money laundering. This....
On Monday, the San Francisco-based retirement plan provider for small to medium-sized businesses, Forusall, announced the launch of an alternative 401(k) plan that offers in-plan cryptocurrency access. According to the alt 401(k) investment option, Forusall is working with Coinbase Institutional as its retirement plan partner. Forusall and Coinbase’s Institutional Arm Offer Crypto-Infused Alt 401(k) Plan Forusall, the “one-click” retirement provider founded in 2012, has revealed that digital currency investors can now leverage the company’s alt 401(k) investment....
Launching a startup begins with a business plan. However, entrepreneurs need to remember that any plan is only a framework for development, and in a turbulent market, the ability to adapt and improvise is more vital than to pursue strict instructions. Having a business plan makes a startup more likely to succeed, found out Francis […]
While bitcoin is going through some growing pains right now, that shouldn't deter entrepreneurs from starting a digital currency business. As we detailed recently, many VCs are on the lookout for business partners in the burgeoning space. One notable hurdle, though, is that regulators are looking closely at what should be done about decentralized money. This means that for even the most intrepid entrepreneurs, fear and uncertainty surrounds planning for the many possible scenarios of legislation that could take shape. Palo Alto, California-based BlockScore, however, aims to take some of....