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Content:

• Connecting the world through instant payments
• Is Bitcoin The Future of Micropayments?
• Bitcoin as an Innovative Payment Currency in Germany: Development of the e-Gold Standard
• Exclusive: Visa moves to allow payment settlements using cryptocurrency
• The Truth About Blockchain
• Op-ed: Stablecoin is the future of virtual payments. How wise regulation can foster its growth
• Volatility Analysis of Bitcoin Price Time Series
• Strike: Bitcoin & Payments

WATCH RELATED VIDEO: Cryptocurrency \u0026 the Future of Micropayments

Connecting the world through instant payments

Illustration: Nicholas Blechman. There are few disappointments in the Digital Age more conspicuous than our failure, as security guru Dan Kaminsky puts it , to "apply the Internet to money. Not bad! This has led to an incredible disparity in ecommerce. For a handful of big companies, Apple and Amazon chief among them, micropayments are outrageously profitable.

These giants have your credit card number and your trust, so you can click and buy in an instant. For everyone else, there's ostensibly PayPal, which rakes in billions of dollars a year for its parent company, eBay, by enabling streamlined payments to vendors. But setting up a PayPal account takes time for both parties.

Vendors also complain that chargebacks—holds on funds when a customer disputes a charge—are hard to win, endangering what are already cash-flow-poor businesses.

None of our online modes of payment offer the anonymity and universal acceptability of cash. What we need for micropayments is a digital equivalent to paper money: anonymous, fast, final. Enter Bitcoin. For most of us, it's tempting to write off the cryptocurrency as unserious.

Remember all those headlines about price volatility and questionable legal status? But there's a reason why venture capitalists and entrepreneurs continue to pay close attention.

For all its weird politics and bad press, Bitcoin may just be the most ingenious system ever created for settling online transactions. Done right, it could put small ecommerce sites on a level playing field with the likes of Amazon and Apple. Instead of running from Bitcoin, we should commandeer it from the radicals and make it work for the rest of us. Bitcoin could make buying from any vendor as painless as buying from Amazon.

If you've heard anything about Bitcoin, it's probably the enchanting genesis story: a monetary system built entirely on mathematics, brought into being by a mysterious coder or group of coders going by the name Satoshi Nakamoto. If you know anything else about Bitcoin, it might be the anti-statist politics and black market proclivities of its superusers or the sometimes wild fluctuations in the currency's value.

Despite those worrisome traits, Bitcoin is really the first true currency designed for the Digital Age. It's made out of bits but behaves like cash: It provides what is damn close to anonymity, transactions are final, and it's hard to counterfeit more so than greenbacks. This cashlike quality largely results from Bitcoin's fulfillment system. Picture a 19th-century shopkeeper's ledger. Bitcoin works similarly, except that instead of the ledger sitting on one person's desk, Bitcoin's ledger—called the "block chain"—is distributed over the entire network.

There's a shared record of every Bitcoin-denominated transaction ever, with the user info concealed by encryption. So while all Bitcoin network activity is essentially public to protect against double spending , identities are private. Whereas central bankers have all kinds of tools at their disposal for steering the value of their currencies, Bitcoin was pointedly designed without any central authority, and the rate of new money creation is fixed by an algorithm and set to taper off over time.

There is no mechanism to safeguard the currency's price, which means that unless you're Winklevoss-level wealthy, it's far too risky to mess around with more than a few dollars' worth of the stuff. So if the fundamentals are fixed, how can Bitcoin possibly become more than just a curiosity in the world of ecommerce?

The answer is that Bitcoin is more than just a currency; it's an open source protocol, and as such it's something that can be molded. We can make Bitcoin our own by building on top of it. One solution to the price fluctuation problem is relatively straightforward, albeit imperfect: Don't hold bitcoins for very long. Instead, link an account containing dollars, euros, or some other major currency to a Bitcoin "wallet," and convert to bitcoins only when undertaking an online transaction.

The seller's wallet can do the same. That way, both parties reap the benefits of Bitcoin's slick settlement system without exposing a big chunk of wealth to the vagaries of price. This is the solution that Coinbase, a San Francisco-based startup, is already attempting. That way vendors can accept it as payment but don't have to keep a cash register and safe full of it. But creating a layer of intermediaries between users and Bitcoin probably won't be enough to tame the currency's tempestuous price.

It's time to empower a central authority to help regulate Bitcoin as it grows. There's already some precedent for such a move: Just this past summer, a group called the Digital Asset Transfer Authority formed to establish guidelines for digital currencies, including safeguards against money laundering. And leadership, despite all the rhetoric about decentralization, has already proven crucial to Bitcoin's survival.

Last spring, when a software update accidentally caused the block chain to split in two, a handful of the protocol's core developers convinced merchants to stop processing transactions while they steered the community back to a common ledger. It's not out of the question that superusers could endow a sort of Bitcoin central bank that intervenes when the price fluctuates too wildly.

Would the die-hards go along with this? Probably not. If they don't, though, there's always the nuclear option. A group of business-minded cryptocurrency experts could simply take the Bitcoin source code and start over, creating a Bitcoin 2. The good news is that such an extreme move might not be necessary. If we can coax more people into using Bitcoin, it won't just improve the currency's public image, it'll also help shrink its price oscillations. This currency, like all currencies, needs to inspire trust to succeed.

Bitcoin is going to need leaders and institutions that stake their reputations and money on guaranteeing that the system works.

To make the decentralized cryptocurrency a true force in the global economy, it needs a touch of—gasp—centralization. Illustration: Nicholas Blechman There are few disappointments in the Digital Age more conspicuous than our failure, as security guru Dan Kaminsky puts it , to "apply the Internet to money. All the Data You Can Eat. The Boston Bomb Squad. He can be reached at david david-wolman. Contributor Twitter. Topics bitcoin Enterprise magazine

Is Bitcoin The Future of Micropayments?

The Raiden Network is an off-chain scaling solution, enabling near-instant, low-fee and scalable payments. The Raiden project is work in progress. Its goal is to research state channel technology, define protocols and develop reference implementations. The Raiden Network is an infrastructure layer on top of the Ethereum blockchain. While the basic idea is simple, the underlying protocol is quite complex and the implementation non-trivial. Nonetheless the technicalities can be abstracted away, such that developers can interface with a rather simple API to build scalable decentralized applications based on the Raiden Network.

Bitcoin as an Innovative Payment Currency in Germany: Development of the e-Gold Standard

Powered by the Lightning Network, we're on a mission to revolutionise the way people transact across the world. Send and receive payments in a way that works for you. We support bitcoin, pound sterling and euro — but that's just the beginning. No more waiting around or boring setup processes - get verified in minutes. Send and receive money across Europe and the UK without the fees. Store, send and receive bitcoin instantly via the Lightning Network. Buy and store bitcoin with a single slide or set up recurring trades at intervals of your choice. Whether you're new to the space or a seasoned pro, we've got you covered - you'll love stacking those sats. Giving kudos just got easier.

Exclusive: Visa moves to allow payment settlements using cryptocurrency

Israeli techies are fascinated by cryptocurrencies. Simplex lets users buy cryptocurrencies with their credit cards, and protects them from fraud. Read more. Could a car make a crypto payment? Bosch seems to think so.

The Truth About Blockchain

In the last couple of weeks, you may have heard the words lightning and Bitcoin BTC used together. In a nutshell, the Lightning Network is a form of technology that allows for smaller and faster BTC payments. The Network also works to lighten the load of the blockchain to make way for more significant transactions. The problem with using more traditional blockchain technology is that it can get congested. The Lightning Network creates channels between people who want to make a quick transaction. Unlike the main BTC blockchain, this network only needs two open channels between two parties to create a transaction.

Op-ed: Stablecoin is the future of virtual payments. How wise regulation can foster its growth

Blockchain is breaking the chains of its niche-like nature: more and more companies are relying on safe, decentralised encoding technology — be it with financial transactions or with what we now call smart contracts. Blockchain has already been researched and implemented in several areas at Daimler too. A pilot project for supply chains with Mercedes-Benz has recently been added to this. For many people the blockchain principle is an inaccessible gate with many locks — and it really does come really close to this level of security, but more about that later. The fact is, however, that this technology is approaching the breakthrough that many experts have been conjuring up for years. SXSW offered its visitors 48 special presentations and workshops on this. Further events touched on the edge of this subject.

Volatility Analysis of Bitcoin Price Time Series

A distributed contract is a method of using Bitcoin to form agreements with people via the block chain. Contracts don't make anything possible that was previously impossible, but rather, they allow you to solve common problems in a way that minimizes trust. Minimal trust often makes things more convenient by allowing human judgements to be taken out of the loop, thus allowing complete automation. By building low trust protocols that interact with Bitcoin, entirely new products can be created:.

Strike: Bitcoin & Payments

RELATED VIDEO: MICROPAYMENT WALLET AND EARNINGS PLATFORM . Advanced Dice

The firm is actively searching for more Bitcoin-based investment opportunities. He does not personally own more than a de minimis amount of Bitcoin. A mysterious new technology emerges, seemingly out of nowhere, but actually the result of two decades of intense research and development by nearly anonymous researchers. Political idealists project visions of liberation and revolution onto it; establishment elites heap contempt and scorn on it.

Virtual payments can be costly and slow — which makes them ripe for disruption by digital currencies, particularly stablecoin. What makes virtual payments inefficient is that they occur in a multitude of smaller closed networks: banks facilitate transfers linked to accounts, credit card networks enable payments on credit, and payment processing firms like PayPal offer payments within their own ecosystem. Since these transactions require a middleman to facilitate them, they can become expensive, slow and restrictive. Anyone can join the bitcoin network, start to accept bitcoin, as well as spend it freely. There is no gatekeeper in control of the network.

Virtual currencies such as Bitcoin could be the natural next stage in the evolution of money. Despite an explosion in media coverage, virtual currencies such as Bitcoin are misunderstood. Every day, news articles describe exchange meltdowns, price volatility, and government crackdowns.