A Week of Reckoning for New York, More Blockchain Tech
- During what was another quiet week for cryptocurrency, crypto businesses operating in New York State had some critical decisions to make.
During what was another quiet week for cryptocurrency, crypto businesses operating in New York State had some critical decisions to make: apply for the BitLicense or close shop.
The 45-day grace period for businesses to make a decision came to an end. While several announced their intentions to get licensed, some notable names (Bitfinex, Kraken, LocalBitcoins) announced their departure from the state.
Once again, Bitcoin's underlying ledger technology fared better than its currency. Visa, the world's largest electronic Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl network, disclosed that it too is exploring blockchain technology. The company, which once wrote off Bitcoin as a non-threat to its business, joins other financial heavyweights looking into the technology.
Israel-based Colu, a startup developing Colored Coins technology for Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe technology applications, announced its beta launch and first industry partnership.
Bitcoin wallet services provider Xapo, currently going through a legal battle questioning the origins of its very existence, was chosen by Bitcoin Investment Trust (BIT) as trusted custodian over its bitcoin holdings.
BitFlyer was the first crypto company to secure venture funding this month, raising $4 million in its third round since launching.
Bitcoin prices initially found support at their low of $260, advancing as high as $271, but ended the week unchanged. Litecoin finished the week higher by 3.2% to $3.84. Ethereum's cryptocurrency (Ether) at one point surpassed Litecoin in market capitalization and finished the week ranked fourth at the equivalent of $1.72.
During what was another quiet week for cryptocurrency, crypto businesses operating in New York State had some critical decisions to make: apply for the BitLicense or close shop.
The 45-day grace period for businesses to make a decision came to an end. While several announced their intentions to get licensed, some notable names (Bitfinex, Kraken, LocalBitcoins) announced their departure from the state.
Once again, Bitcoin's underlying ledger technology fared better than its currency. Visa, the world's largest electronic Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl network, disclosed that it too is exploring blockchain technology. The company, which once wrote off Bitcoin as a non-threat to its business, joins other financial heavyweights looking into the technology.
Israel-based Colu, a startup developing Colored Coins technology for Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe technology applications, announced its beta launch and first industry partnership.
Bitcoin wallet services provider Xapo, currently going through a legal battle questioning the origins of its very existence, was chosen by Bitcoin Investment Trust (BIT) as trusted custodian over its bitcoin holdings.
BitFlyer was the first crypto company to secure venture funding this month, raising $4 million in its third round since launching.
Bitcoin prices initially found support at their low of $260, advancing as high as $271, but ended the week unchanged. Litecoin finished the week higher by 3.2% to $3.84. Ethereum's cryptocurrency (Ether) at one point surpassed Litecoin in market capitalization and finished the week ranked fourth at the equivalent of $1.72.