Cards Like Wirex’s Put Cryptocurrencies in Your Wallet

Usually, when people think about cryptocurrency, it’s on hard drives, cell phones or third-party exchanges. But, cryptocurrency debit cards have long been an exciting frontier for crypto-enthusiasts.

The large San Francisco-based exchange, Coinbase, has offered a debit card, the Shift Payment Card, which allows users to gain access to their cryptocurrency just like their bank accounts. But, the largest cryptocurrency exchange is hardly alone in offering such a service. (more…)

Former Digital Gold Developers Launch Token Sale for Cash, Micro-Lending System

(GoldSilverBitcoin) – Everex, formerly Midas Reserv, is making waves in the crypto-cash industry thanks to its contributions in cash-transfer technologies. Based on the Ethereum blockchain, Everex’s central product, Cryptocash, allows individuals to transfer cash across borders instantly in form of national currency on a blockchain. Applicable to remittance and cash transfers, Cryptocash is a digitized form of cash backed by national currencies thanks to Everex’s partner institutions. (more…)

JP Morgan’s Blockchain Researchers Discussed Ethereum’s Shortcomings Before DAO Hack



When two senior blockchain leaders left JP Morgan’s Juno project last month to start the firm Kadena.io, as reported by Quartz, it was on amicable terms.

Related: JPMorgan Publishes Code for Permissioned Blockchain

JPMorgan & Kadena Partnership In The Works?

In fact, former executive director Stuart Popejoy and JP Morgan head engineer Will Martino – who use South Park caricatures on the website in their biographies – are currently exploring a partnership with their former employer, the largest bank in the United States with total assets of $2.35 trillion.

Kadena’s conversations with JP Morgan revolve around both the initial pilot of the Kadena self-titled blockchain and other use-cases, and  a relationship with the bank could be formalized in the next few months with Kadena either as a vendor or partner. Spinning off from JP Morgan was “definitely” a professional decision for Popejoy and Martino.

“Our decision was based on the belief that the true potential of the Juno pilot would be best-served by an independent effort,” Martino told Motherboard, referring to JP Morgan’s blockchain project.

DAO Hack Foreseen By JPMorgan

Martino’s and Popejoy believe  their work serves as an improvement over Ethereum. Martino and Popejoy say Kadena’s technology would avoid blockchain crises such as the June $56 million DAO hack of Ethereum’s token, ether.

Like Ethereum, Kadena’s blockchain technology can handle payment clearing use-cases, but that’s just an “added bonus of private utility-like blockchain technology,” as Martino says. He believes blockchain technology can standardize business logic for inter-organizational relationships. This, he suggests, “could provide for terrific business acceleration.”  At the time of the DAO hack, Kadena was preparing Pact, a safe, declarative smart-contract language.

“While bugs aren’t impossible in Pact, it represents the same sober, disciplined approach found in database engineering and Bitcoin: safety is absolutely paramount in transactional computing,” Martino said.  The Ethereum hack, ultimately, confirmed a longstanding hypothesis of the Kadena founders – one they had since their JP Morgan days.

“That Ethereum’s Solidity, and indeed the EVM bytecode environment itself, is fundamentally unable to provide a safe environment for blockchain transaction execution,” Popejoy expressed.

Martino and Popejoy noticed Ethereum’s shortcomings as blockchain technology researchers in the Emerging Technologies Group at JP Morgan, which is tasked with fostering innovation within the bank. Ethereum’s design presented “a significant barrier to industry adoption of private blockchain in a multi-organizational setting.”

Is the Kadena blockchain a Bitcoin and Ethereum killer app? Popejoy and Martino believe so. Kadena can, after all,  process upwards of 7,000 transactions per second. Bitcoin is currently stuck at seven transactions per second a la the “Bitcoin block size debate.” Kadena also claims their blockchain sacrifices none of the cryptographic robustness expected from a blockchain, proving full durable security. Overall, the Kadena founders foresee a paradigm shift away from public blockchains like Ethereum.

“Private blockchain solves a raft of issues for transaction processing that normally require extensive operational and engineering expertise, including database replication, reliable and performant messaging, service discovery, high-availability, and disaster-recovery,” Popejoy said. “Remarkably, blockchain solves all of these problems in a single stroke, letting IT focus efforts on solving business problems by coding transactional logic into smart-contracts.”


Microsoft Head of Decentralized Identity Says Bitcoin is Under Attack

“To the BU folks threatening a 51% attack: Imagine a decentralized identity client, running an SPV that blocks BU, shipping to 1 billion PCs,” tweeted Daniel B, Microsoft Head of Decentralized Identity, essentially representing a weighing in on the block size debate. 

Related: Bitcoin Mining isn’t totally unheard of on Global US Armed Force Bases

He then continued: “BU degrades security and decentralization – if decentralized identity takes off, implementing UAs will be responsible for protecting users.”

He championed increased distribution. “Decentralization is the most critical attribute of decentralized identity, thus *any* mod that degrades it (BU or otherwise) is unacceptable,” he tweeted.

He does believe that there should be nothing stopping BU from developing. “Devs are free to produce harmful plugins & browsers are free to block them – same goes for chain protocol mods & decentralized identity UAs,” he opined on the popular social media platform which boasts more than 300 million accounts.

He added: You have every right to develop any code you wish, but you have no right to force customers to use it or their User Agents to accept it.

In a blog post entitled, “The Web Beyond: How blockchain identity will transform our world,”

He wrote: “With a global blockchain of identity, we can dramatically transform almost every product or service that relies on interactions between living, non-living, and intangible things.”

Donald Trump & Japanese Blockchain Researcher SoftBank Reach Deal on $50 Billion US Investment & 50,000 Jobs




Donald J Trump tweeted Tuesday that SoftBank of Japan agreed to invest $50 billion in the US towards businesses and 50,000 new jobs. The tweet comes on the even of Pearl Harbor, a scar on the memory of both nations. In announcing the deal, Mr. Trump makes good on a campaign promise to improve international relations. 

(more…)

Royal Mint Experimenting with Blockchain-based Gold Trades



The Royal Mint partnered with markets operator CME Group to build a gold market with blockchain technology as a means of broadening London’s hip-factor when buying and selling gold bullion.

The Roya Mint, owned by taxpayers, plans to accept trades from the middle of next year on the Royal Mint Gold platform, intended to log each transaction using blockchain. (more…)

Blockchain Website Steemit Plans Hard Fork to Attract Short and Mid Term Speculators

Steemit, which gained popularity in the Bitcoin community after it introduced the first blockchain-based website, announced a December 6 hard fork this morning. The fork, which had been discussed in Steemit forums in recent months, is designed to change the platform’s economic model and to benefit the social platform’s community. This will be done, according to Steemit CEO Ned Scott, by onboarding more short to medium term investors.

Before the change is made, “witnesses”, who help to govern the experimental blockchain system, will have to agree to the change through a voting process. The main change will be to the Steem currency’s inflation rate. (more…)

R3 Sends Cease-and-Desist to Bitcoin Developer Peter Todd

Bitcoin and banks were never supposed to go hand-in-hand. So, in 2015, when the world’s largest financial institutions began investigation the technology behind Bitcoin, blockchain, it took many people by surprise. Now, approximately two years after those efforts began in earnest, it seems there’s somewhat of a clash taking place between Bitcoin and the consortium through which the world’s largest banks investigate blockchain technology, R3. (more…)