SocGen CEO Frederic Oudea says he can’t see a future for bitcoin

Bitcoin has no future because of its anonymity, SocGen CEO says  #WallStreet #CNBC

  • Bitcoin and cryptocurrencies are unlikely to survive long-term as governments scramble to regulate them, according to the chief executive of French banking giant Societe Generale.
  • Frederic Oudea said that, while he was a believer in distributed ledger technology — which allows data to be stored in enormous volumes across a secure network of computers — virtual currencies carry too much risk due to their anonymity.
  • The anonymity of the transaction is a problem I think which would put pressure on bitcoin.”
  • But Oudea said: “I prefer to use the word distributed ledger technology and not blockchain.”
  • Blockchain technology was originally created to serve as a digital log of all bitcoin transactions.

Societe Generale CEO Frederic Oudea said he was “not convinced” cryptocurrencies like bitcoin would “see any development.”
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Bitcoin’s Billion Dollar Baboon: An Initial Coin Offering (ICO) Attracts Big Time Talent

  • The latest widely-tipped red hot ICO, and the one that experts are billing as a potential catalyst for the scene to mature into a serious marketplace of its own is tipped a little more towards the quantitative side things – it’s a decentralised hedge fund, with a typically tokenish name: Monkey Capital.
  • Coinschedule, a site that carries out due diligence on potential offerings and picks the best 10 or 20 out of more than a thousand monthly applicants, has given Monkey Capital its first ever Platinum accreditation.
  • “Monkey Capital has all the key elements of a successful crypto project: a bold but realistic plan, strong team with a delivery track record and transparency in terms of who they are and how they plan to deliver results,” Alex Michaelis, co-founder of Coinschedule.com said in an e-mail response to questions about the Monkey Capital platinum listing status.
  • “We at Coinschedule have been waiting for the right partner to offer the first Platinum level sponsorship and after meeting Daniel and Monkey Capital it became clear that they were the ideal project.”
  • Wage into the foyer – which is to say, the general channel – of the company’s Slack Chat most times of the day or night and you will find Harrison breathlessly berating would-be investors for giving him innocuous and well-meaning advice about the pace of the ICO, or otherwise discussing mind-boggling equations or such issues of contemporaneous import as South Asia’s Crypto community with Peerchemist, a pseudonymous early Blockchain developer and yet another of the offering’s all-star line up.

Anyone who’s anyone in tech today knows the three-letter acronym for jumbo-size fundraising: ICO.
The legality of Initial Coin Offerings, specifica…
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Bitcoin Options Exchange Raises $11.4 Million in Funding

#bitcoin Options Exchange Raises $11.4 Million in Funding

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Ledger Holdings, the New York-based parent company of bitcoin options exchange LedgerX, said on Monday it closed $11.4 million in funding led by Miami International Holdings Inc and China’s Huiyin Blockchain Venture Investments.
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Zcash, the virtual money making its mark

Zcash, the virtual money making its mark  #news #bitcoin

  • After debuting in October Zcash hit an exchange rate of $1,000 per unit, putting it in league with the much better established Bitcoin, the virtual currency pioneer

    Zcash, the latest virtual currency, has been a smash success since its launch seven months ago, drawing in new users with promises of unrivaled privacy protection.

  • After debuting on currency trading platforms in October, Zcash took off, hitting an exchange rate of $1,000 per unit, putting it in league with the much better established Bitcoin, the virtual currency pioneer created in 2009.
  • To make its mark in the world of virtual currencies, Zcash boasts that it protects user privacy.
  • Wilcox told AFP he hoped the expanded privacy protection could overcome businesses’ reluctance to adopt Zcash as a trustworthy alternative to traditional state-controlled currencies.
  • But Jonathan Levin, co-founder of Chainalysis, a start-up that helps banks and authorities trace the origins and destinations of virtual currency payments, doubts Zcash will find its place in the wider financial system.

Zcash, the latest virtual currency, has been a smash success since its launch seven months ago, drawing in new users with promises of unrivaled privacy protection.
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Video: Bring on Bitcoin: why Richard Branson and Bill Gates support the currency

  • Bring on Bitcoin: why Richard Branson and Bill Gates support the currency
  • Blockchain also recently introduced an iOS mobile application for its wallets, after Apple Inc. relaxed its policies on apps that handle the virtual currency.
  • Blockchain Ltd., which runs the world’s most popular wallet for storing bitcoins, raised more than $30m in its first outside round of funding.
  • Blockchain, which has more than 2.3m consumer wallets, will use the funds to expand internationally and add features.
  • Lightspeed Venture Partners, Wicklow Capital and Richard Branson were among the investors, the London-based company said in a statement today.

Blockchain President Peter Smith discusses the company’s business model and
the security concerns surrounding Bitcoin
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Bitcoin firm gets approval to operate in Switzerland

  • Bitcoin firm gets approval to operate in Switzerland
  • While other crypto-currency firms already operate in Switzerland, Xapo’s operation as a bitcoin wallet provider had raised questions over whether it required a banking license.
  • The approval depended on several factors, including membership of a “self-regulatory organization”, Casares said, but added that the company was optimistic of meeting the conditions and being able to serve non-U.S. customers from Switzerland.
  • ZURICH (Reuters) – Bitcoin wallet provider Xapo said it has received conditional approval from Switzerland’s financial market watchdog to operate in the country in a regulatory breakthrough for companies that provide safekeeping for the virtual currency.
  • Bitcoin Suisse operates a network of bitcoin ATMs across the country, as well as an online and in-person brokerage for buying and selling bitcoins.

By Brenna Hughes Neghaiwi ZURICH (Reuters) – Bitcoin wallet provider Xapo said it has received conditional approval from Switzerland’s financial market watchdog to operate in the country in a regulatory breakthrough for companies that provide safekeeping for the virtual currency. “After almost
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Bitcoin firm gets approval to operate in Switzerland

  • Bitcoin firm gets approval to operate in Switzerland
  • While other crypto-currency firms already operate in Switzerland, Xapo’s operation as a bitcoin wallet provider had raised questions over whether it required a banking license.
  • Bitcoin Suisse operates a network of bitcoin ATMs across the country, as well as an online and in-person brokerage for buying and selling bitcoins.
  • Olga Feldmeier, a former managing partner of Xapo who coordinated the Swiss licensing process for the company, told Reuters that Xapo had been designated a financial intermediary, meaning it will not require a costly banking license.
  • The approval depended on several factors, including membership of a “self-regulatory organization”, Casares said, but added that the company was optimistic of meeting the conditions and being able to serve non-U.S. customers from Switzerland.

Bitcoin wallet provider Xapo said it has received conditional approval from Switzerland’s financial market watchdog to operate in the country in a regulatory breakthrough for companies that provide safekeeping for the virtual currency. “After almost two years of substantial effort and investment
Continue reading “Bitcoin firm gets approval to operate in Switzerland”