There are different types of blockchains. The only true use case for a blockchain, at the current time, is Bitcoin. Nonetheless, many of these other blockchain models, still experiments, could power finance, and some experts believe relatively quickly.
The second largest blockchain crowdsale of all time is Ethereum. Ethereum is a blockchain system based on smart contract technology which seeks to remove humans from the nature of contracts. It is run by a virtual machine, which is a distribution of computing power run in a Bitcoin-type network. Miners in this distributed network are rewarded in ether, a Bitcoin-inspired digital currency that Ethereum proponents refer to as the “fuel” of the network. This is similar to how Bitcoin miners are rewarded with Bitcoin.
Bitcoin has had a scandalous past already, with many high profile court cases. When you go to conferences, the focus is on how Bitcoin is…
The producer of Nirvana’s landmark record, In Utero, levied some interesting critiques of blockchain technology in an interview long before the technology had captured the…
Amid an edit war in which Bitcoiners argue Ethereum’s DAO’s are crowdsales and another group argues they are in fact IPOs, the recent Ethereum product known as Decentralized Autonomous Organizations has raced to the top of the largest “crowd sales” of all time. Below is a list of all the blockchain related crowd sales ranked in order.
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Many people have opined that Bitcoin is not illegal, such as Chris Kitze. Their argument centers on how the digital currency does not comply with know your customer and anti-money laundering regulations.
But, it’s likely Bitcoin is easily regulatable. In general, it’s business, not the financial instruments themselves, that do the regulating. Incorporated businesses virtually sign documents stating that, if they come across individuals breaking laws, they will report them. This is particularly the case when it comes to the financial industry. Bitcoin companies are generally considered financial companies.
Reports flood the internet about Bitcoin related companies instituting stringent know your customer and anti-money laundering policies – the policies which ensure that people are not profiting from illegal fund moving or terrorist financing.
1 Coinbase – The San Francisco Based Coinbase is one of the top Bitcoin companies. It’s created a PayPal like Bitcoin exchange that is incredibly…
At the end of last week, BitGold announced it raised $17 million in a deal that began as a $14.8 million offering. This deal is…