The days where people could freely mine and use cryptocurrencies in India may be over. According to reports, a committee has advised the Indian government to ban the use of cryptocurrencies inside their territory. Without a doubt, dark days lie ahead for Indian enthusiasts.
With the unexpected death of Gerald Cotten, CEO and founder of Quadriga Fintech Solutions Corp., his widow Jennifer Robertson has found herself in the middle of a complicated legal battle. She is facing off in defense of her husband’s legacy against former Quadriga CX investors and customers. Robertson never thought this was going to be a simple process. She has admitted that she has little to no experience dealing with Bitcoin, let alone running a company. But what came as a surprise for her was the amount of blowback she is receiving.
Cryptocurrency often breeds a great deal of uncertainty. After all, many places still view it as the new kid on the block(chain). Clearly, respect for cryptocurrencies has increased. After all, some governments and companies are going through great lengths to attempt to control it and profit from it. There is still a lot of bias against using these paperless currencies; some still look down at cryptocurrencies with suspicion and distrust. This is especially due to the fact that cryptocurrencies are decentralized and often anonymous. Nevertheless, the adoption and value of those currencies have skyrocketed. But soon, Canadian company Quadriga CX may not find much of either.
Continue reading “Law Firms Rush to Represent Quadriga CX Clients”
By Nick Hamilton | United States
Cryptocurrency is about to become much more accessible when making purchases in public.
Square, a major digital payment service that Twitter CEO Jack Dorsey leads, has won the patent to allow merchants to accept crypto payments, such as Bitcoin. The service would then transfer the payment into the local currency.
Cryptocurrency: Payment of the Future
Dorsey has said that he believes cryptocurrency will be the leading method of payment in ten years. Adding Bitcoin to this service that already supports many major credit cards is a way to make this a reality. This system also eliminates latency in these transactions, meaning approval on purchases will occur much faster. They’ll be able to do this via a blockchain that records Square-managed wallets in real time.
Tackling Major Obstacles
This, of course, means that cryptocurrency payments will process at the same speed of credit card payments. Previously, one of the big drawbacks of crypto was the increased transaction time. Another key issue was a very low accessibility, but Square is tackling both of these issues.
It’s not often that companies who do blockchain research have such an enthusiastic CEO when it comes to cryptocurrency. However, due to this patent, and Dorsey being so invested in cryptocurrency, we could see cryptocurrency emerge more in the mainstream. At the very least, it now will be considerably easier to use. This could mean that Bitcoin’s demand will rise, thus raising its price.
A Bright Outlook
The patent may affect the backbone of the future economy, at least according to Dorsey, who tweeted earlier this year that Bitcoin would become a path towards financial success for all.
Instant buying (and selling, if you don’t want to hodl) of Bitcoin is now available to most Cash App customers. We support Bitcoin because we see it as a long-term path towards greater financial access for all. This is a small step.
We also made this! https://t.co/z3u0liDNk4
— jack (@jack) January 31, 2018
As the price of Bitcoin continues to rise, Dorsey’s dream of seeing crypto thrive in the future may be coming true.
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By Nick Hamilton | United States
During an interview with Cheddar, Chris Stowe, the CTO of Reddit, asserted that Reddit hopes to bring back payments dealing with Bitcoin (BTC), Litecoin (LTC), and Ethereum (ETH).
Reddit stopped accepting Bitcoin in March of this year, when the Coinbase Merchant Services were experiencing some technical difficulties and bugs. This led the popular sharing site to drop the Cryptocurrency as an option for payment.
Coinbase has since announced the migration of Coinbase Merchant Services to a program called “Coinbase Commerce,” a program specifically designed for merchants. The migration of Coinbase Commerce will end on May 31st, which is when we could see a return of cryptocurrency payments to Reddit.
Reddit has always been very crypto friendly, with subreddits such as r/Bitcoin, r/Crypto, r/Litecoin, and r/Ethereum having tens of thousands of subscribers.
Stowe said the following Thursday:
The upcoming Coinbase change, combined with some bugs around the bitcoin payment option that were affecting purchases for certain users, led us to remove bitcoin as a payment option.
We have been looking at other cryptocurrencies. As a matter of fact, that was part of the issue with the high fees on the bitcoin network. We are looking at Ethereum and Litecoin that are both provided by Coinbase.