Tag Archives: Money

BitPagos is Bringing Bitcoin to the Developing World

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“While Americans, Europeans, Australians, and other members of developed nations are not trying to flee their local currencies to find a safe haven for their savings, there are plenty of people in South America and other parts of the world where the local currency has detrimental effects on the well-being of the individuals in that country. BitPagos’ services can be used in almost any part of the world where bitcoins could be viewed as an alternative to the local fiat currency.  People in places like Venezuela are looking to flee the local currency and get into bitcoins, not the other way around. This is the aspect of Bitcoin adoption in developing nations where BitPagos can help the most.”

http://www.cryptocoinsnews.com/news/bitpagos-bringing-bitcoin-developing-world/2014/04/04

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Federal Bank VP: Bitcoin Threat Means Banks Must ‘Adapt or Die’

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“On 31st March, the Federal Reserve Bank of St. Louis – one of the 12 Federal Reserve banks – held a talk on bitcoin from a banking and economic viewpoint.  The session, entitled ‘Bitcoin and Beyond: The Possibilities and the Pitfalls of Virtual Currencies’, was presented by economist David Andolfatto, who is Vice President at the bank and a professor at Simon Fraser University.  Andolfatto is sure that, ultimately, new systems will upend the monetary hierarchy of today – eventually forcing substantial changes within the banking and payments industry.”

http://www.coindesk.com/federal-bank-vp-bitcoin-threat-means-banks-must-adapt-die/

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Canadian Government to Divest ‘MintChip’ Digital Currency Program

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“The Canadian government has announced that it will end its MintChip electronic payment system, and that it will look to sell the business to the private sector.  Announced in 2012, MintChip was not a digital currency akin to bitcoin, but rather a digital payment mechanism meant to function as an electronic cash that could be transferred between users.  MintChip used a silicon chip with a unique ID as a store of value, which was then to be sent to brokers who would trade them to consumers and businesses. Users could embed MintChip devices onto USB sticks, wallets, laptops and tablets, or store their digital cash with a third-party service provider.”

http://www.coindesk.com/canadian-government-end-mintchip-digital-currency-program/

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Bank of Montreal CEO: Bank is open to Bitcoin, conditionally

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“If it was reliable and if it was regulated, ‘then there’s no reason why we couldn’t be an intermediary in bitcoin-related transactions,’ Bill Downe said in an interview after the company’s annual general meeting in Toronto.  ‘Because, if you wanted a Swiss franc transaction or a Japanese yen transaction or a U.S. dollar transaction, we can do that transaction for you,’ he said. ‘If bitcoin [can be] a reliable medium of exchange, then at that point in the future, we would be able to [conduct business] with bitcoin.’  So far, however, almost every major banking chief in North America has either stayed mum on, or openly derided, the currency.  Canada’s banking watchdog said it does not regulate bitcoin.”

http://business.financialpost.com/2014/04/01/bmo-open-to-bitcoin-if-virtual-currency-is-regulated-reliable-says-ceo-bill-downe/

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ATM of the future: No cards, no buttons

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“Diebold has deployed the first of a completely new kind of ATM designed to appeal to gadget-obsessed millennials.  The machine has no physical buttons or card reader. You do nearly all your interactions with it through the cloud using a smartphone. This video demonstrates it.  The new machine was announced in early 2013. but now there is one in operation at Diebold’s own credit union, Diebold Federal Credit Union (DFCU).  Such ATMs should make skimming basically impossible. Customers conduct very little interaction directly with the ATM itself. New, stronger methods of authentication are possible.”

http://www.zdnet.com/atm-of-the-future-no-cards-no-buttons-7000027850/

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San Jose Quakes to become the next sports team to accept Bitcoin

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“Dave Kaval, President of the San Jose Earthquakes, just told the world on SiliconANGLE’s TheCube that his team will be accepting bitcoin with the upcoming soccer season. Soccer fans can expect to use the virtual currency for anything from the merchandise store as well as tickets to see games.  The San Jose Earthquakes are an American soccer team based in San Jose and a Major League Soccer participant. And now they are the second professional sports team to take bitcoin as a payment option—following the Sacremento Kings (an NBA team) who announced that March 1st would mark their acceptance of bitcoins.”

http://siliconangle.com/blog/2014/04/02/the-san-jose-quakes-to-become-the-next-sports-team-to-accept-bitcoin/

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Bitcoin could get boost from Square and Stripe moves

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“Two payments companies, Square and Stripe, have said in recent days they are working with the virtual currency bitcoin, lending support to the idea that the bitcoin technology could be used to improve the way money is transmitted.  Square said Monday it would begin accepting bitcoin for products ranging from coffee beans to chairs on Square Markets, its online marketplace. Last week, Stripe said it had launched its first test of bitcoin payments that will allow the online back-up services company Tarsnap to accept bitcoin.  Bitcoin transactions in February averaged $68 million a day, compared with daily averages of $225 million for Western Union and $492 million for PayPal.”

http://blogs.marketwatch.com/thetell/2014/04/04/bitcoin-could-get-boost-from-square-and-stripe-moves/

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Square now lets sellers accept Bitcoin on their own storefronts

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“Square today announced it has added support for paying with Bitcoin. As a result, buyers can now use the digital currency to purchase goods and services on Square Market, which allows sellers to create an online storefront with online payment processing.  The mobile payment company promises the experience won’t feel any different for sellers and they ‘don’t have to change a thing, except potentially expecting new trailblazing customers and more sales.’  The seller receives the amount of the purchased goods or services in the amount of USD advertised to the sellers’ customer at the time of transaction, and can fulfill their customer’s order.”

http://thenextweb.com/insider/2014/03/31/square-now-lets-sellers-accept-bitcoin-storefronts/

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BitPay Opens European Headquarters in Amsterdam

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“BitPay, the world leader in business solutions for the Bitcoin digital currency, has officially opened its European Headquarters in Amsterdam. This office will handle sales, implementation and merchant support for BitPay’s 7,000 merchants in Europe. Pieter Poorthuis joins BitPay as a Senior Sales Engineer for sales and customer implementations in the Eurozone. Pieter previously managed implementations for ING’s mobile payments products.  Marcel Roelants has also joined BitPay’s Board of Advisors. Marcel is a former General Manager of MasterCard in the Netherlands, and was previously Managing Director of General Electric in Belgium.”

http://finance.yahoo.com/news/bitpay-opens-european-headquarters-amsterdam-133000890.html

BitPay, the world leader in business solutions for the Bitcoin digital currency, has officially opened its European Headquarters in Amsterdam. This office will handle sales, implementation and merchant support for BitPay’s 7,000 merchants in Europe, with the goal of acquiring and serving 30,000 merchants in Europe by the end of 2014.

Moe Levin has joined BitPay as the company’s European Director of Business Development. Moe speaks five languages and has several years of Bitcoin experience, most recently as a conference organizer in Amsterdam and Miami.

“Being Bitcoin ready is about more than accepting bitcoin, it’s about being ready for the future,” says Levin.

Pieter Poorthuis joins BitPay as a Senior Sales Engineer and is responsible for sales and customer implementations in the Eurozone. Pieter previously managed implementations for ING’s mobile payments products.

Marcel Roelants has also joined BitPay’s Board of Advisors. Marcel is a former General Manager of MasterCard in the Netherlands, and was previously Managing Director of General Electric in Belgium where he managed 170 people.

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Sacramento Kings NBA Franchise Launches Bitcoin-Only Online Store

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“The Sacramento Kings NBA Franchise has officially launched a bitcoin-only marketplace on BitDazzle, a purchasing platform for online merchants that specializes in bitcoin.  The news follows the announcement that the Kings would become the first US professional sports team to accept bitcoin this past January, when the team inked a deal with Georgia-based merchant processing specialist BitPay.  The new website, KingsBitcoin.com, is a co-branded effort between the two organisations that will allow Kings fans to purchase gear, merchandise and tickets using bitcoin.”

http://www.coindesk.com/sacramento-kings-nba-franchise-launches-bitcoin-online-store/

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