Can Blockchain Solve The Prosperity Paradox?

  • It’s resulted in various projects to provide access to finance for the worlds poorest, from mobile banking to microfinance, and whilst the work of people like Muhammad Yunus have been tremendously important, I believe that the blockchain could be even more powerful.
  • “Our companies are built on the same foundation; a belief that new technologies should take the complexity out of financial services in emerging markets.
  • We’re thrilled to partner with Wala, and the 1,000’s of merchants utilising the M-vendr powered PoS are really excited to start Wala financial services and accepting Dala tokens as it will add immense value to their customers,” M-vendr say.
  • While zero-fee financial services are the immediate goal, the trust and transparency brought about by the blockchain could also lay the foundations of a modern infrastructure that solves other problems for the unbanked, such as credit scoring.
  • The progress in achieving the Millennium Development Goal on poverty so quickly is considerable, but ledger technology such as that provided by the likes of Wala provide a glimpse into a possible future where the unbanked and underbanked are increasingly enfranchised and empowered to become active participants in the global…

It would perhaps be fickle to be too critical of the global economic system given the tremendous progress made towards so many of the Millennium Developm…
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Jamie Dimon says he’s not going to talk about bitcoin anymore

  • During Citigroup’s earnings call Thursday, Chief Financial Officer John Gerspach said, “We think the area of cryptocurrency and digital currency is an area worthy of exploration.”
  • Gerspach said Citi’s labs in Tel Aviv and Dublin are looking at digital currencies, cryptocurrencies and blockchain.
  • Another digital currency, ethereum, traded mildly higher near $307.
  • Many digital currency enthusiasts see ethereum as the foundation for the next generation of the internet.
  • The bank then became a founding member of the Enterprise Ethereum Alliance in February, and partnered with the developers of privacy-focused digital currency Zcash in May.

After the CEO of JPMorgan Chase caused a stir by calling bitcoin a ‘fraud’ last month, he says he’s not commenting any further.
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Jamie Dimon says he’s not going to talk about bitcoin anymore

  • Jamie Dimon, chairman and CEO of JPMorgan Chase, said he is no longer going to discuss bitcoin after his comments last month that the digital currency was a “fraud” caused quite the stir on Wall Street and Silicon Valley.
  • But I’m not going to talk about bitcoin anymore,” said Dimon in response to a question during the bank’s third-quarter earnings call with media on Thursday.
  • JPMorgan CFO Marianne Lake then took over the conversation.
  • “We are open-minded for digital currencies that are properly controlled and regulated,” she said, also discussing the potential merits of blockchain, the technology behind bitcoin.

After the CEO of JPMorgan Chase caused a stir by calling bitcoin a ‘fraud’ last month, he says he’s not commenting any further.
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Jamie Dimon says he’s not going to talk about bitcoin anymore

  • Jamie Dimon, chairman and CEO of JPMorgan Chase, said he is no longer going to discuss bitcoin after his comments last month that the digital currency was a “fraud” caused quite the stir on Wall Street and Silicon Valley.
  • But I’m not going to talk about bitcoin anymore,” said Dimon in response to a question during the bank’s third-quarter earnings call with media on Thursday.
  • “We are open-minded for digital currencies that are properly controlled and regulated,” she said, also discussing the potential merits of blockchain, the technology behind bitcoin.
  • Dimon told an investor conference last month that bitcoin was a fraud “worse than tulip bulbs.”
  • His comments ran contrary to many on Wall Street who have begun to embrace, or at least experiment, with bitcoin and the blockchain technology it utilizes.

After the CEO of JPMorgan Chase caused a stir by calling bitcoin a ‘fraud’ last month, he says he’s not commenting any further.
Continue reading “Jamie Dimon says he’s not going to talk about bitcoin anymore”

Israeli blockchain companies that shoot for the stars

Israeli blockchain companies that shoot for the stars

  • He’s aiming at nothing less than bringing down the monopoly that large internet companies such as Facebook and Google have in generating income from online content and its curation.
  • His aim is to, “completely liberate this economy from all these very centralized, very unfair centers of He argues that users are being treated merely as “cogs” in the wheels of the large internet companies that profit from the content that they upload and share.
  • “We’re not rewarded in any way for creating all this value, for organizing the information on the internet as it is He’s set to introduce his first product as a beta-release at the end of this month.
  • Called Wild Spark, the idea is to use a cryptocurrency issued by Synereo called AMP, for amplify, to attach value to “We’ve created this game where everything eventually flows up to the creator but anyone who’s part this value chain by being a curator by finding audiences that are interested, gets rewarded,” says Synereo conducted Initial Coin Offerings in 2015 and 2016, raising $5 million, he says.
  • Blockchain is important in several ways for the system he’s developing: “It’s a cryptocurrency, you can do micro-transactions, you can easily transfer amounts without a credit card or banks from person to person online.”

Three founder-CEOs of Israeli blockchain startups explain their often rather grand visions for the future of their companies.
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The Rising Price of Bitcoin and Ethereum Is Leading to More Hacking Attempts

  • Last week, hackers took over the cellphone number and email account of Cody Brown, the founder of a virtual reality production studio called IRL.
  • The attackers then logged into his account on the cryptocurrency exchange Coinbase and drained it, stealing around $8,000, according to Brown’s reconstruction of the heist.
  • You are out $8k and they tell you to text a Twitter account or send them an email,” Brown told Motherboard in an online chat.
  • “Due to a recent increase in sophisticated attacks targeting Coinbase users, we are taking extra precaution to protect your account,” Authy wrote.
  • “Coinbase strongly recommends using unique, strong passwords and 2-factor authentication like TOTP (e.g. Google Authenticator, Duo, etc) for both email and digital currency wallets.”

If you own bitcoin or ether, two-factor authentication (and not with SMS) is your friend.
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Bitcoin may have more than doubled this year, but rival Ethereum is up 2,000 percent. Here’s why

Bitcoin may have more than doubled this year, but rival Ethereum is up 2,000%. Here's why

  • Bitcoin has more than doubled in price this year alone, but it has been outperformed by its closest rival Ether, which is up over 2,300 percent.
  • On January 1, bitcoin was trading at the day’s high of $1,003.25.
  • On Wednesday, it broke through the $2,300 barrier for the first time to hit a fresh record high of $2,377.32, according to CoinDesk, marking a year-to-date rise of 137 percent.
  • Ether has risen from $8.24 on January 1, to a high of $203.30, according to data from Coinmarketcap.com.
  • This represents a 2,367 percent rise year-to-date.

Ethereum has been backed by major firms including JPMorgan, Microsoft and Intel.
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