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South Africa Gets its First Bitcoin Academy

Bitcoin has been playing vital role in the remittance market in the African continent; however, the continent has now got its first Bitcoin academy now which is expected to play important role in the study of the digital currency. The local reports say that South Africa’s first Bitcoin academy has opened its doors for organizations and individuals now.

Thus, all those who want to learn more about Bitcoin and the Blockchain can become member of the academy and learn about the digital currency. It is the first of its kind in Africa and expected to pave the way for similar academies elsewhere. Nonetheless, the academy is located at the Bandwidth Barn in Woodstock, Cape Town and was founded by Sonya Kuhnel.

Founder Sonya Kuhnel is Industry’s Experienced Professional

Sonya Kuhnel is not new to Bitcoin industry as she previously started a Bitcoin payment company and is now turning her attention to training others in Bitcoin technologies. She was quoted saying that when she first started in the Bitcoin space, she encountered significant resistance towards digital currencies from individuals and businesses in South Africa.
Kuhnel is of the view that the level of understanding of Bitcoin and its underlying technology, the blockchain, proved to be a real challenge and she realized she would have to first educate the market place before there would be any significant uptake of the digital currency and the cutting-edge technology behind it.

According to the announcement training dates are available from September 2015. Nonetheless, training takes place over a full day and is tailored to meet the needs of different target audiences. According to the academy each attendee will receive a Bitcoin Academy Certificate of Attendance. We offer discounted rates for groups over 50.

‘Bitcoin 101 Course’ for Newbie in Bitcoin Industry

Additionally, as the academy currently offers three courses, each aimed at different users, ranging from beginners looking for an introduction to Bitcoin to developers wanting to build products around the Blockchain, the participants have varied choice. The primary course is ‘Bitcoin 101 Course’ for individuals who have heard of Bitcoin but don’t quite understand.
Bitcoin 101 Course covers topics such as the basics of Bitcoin and the blockchain, Bitcoin mining, pricing & volatility, security issues, merchant adoption, different types of Bitcoin wallets, online exchanges, payment processing, benefits of Bitcoin, Bitcoin regulation, compliance, regulation, remittances and the future of Bitcoin.

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Miners Turns Away from Bitcoin XT

The controversy surrounding the launch of Bitcoin’s forked client — Bitcoin XT — has kept miners away from mining its blocks. Ever since its launch on Saturday, the new upgraded client has failed to mine even a single block, indicating the absence of proper community backing compared to Bitcoin Core.

Federal Judge Supports Claims Against Bitcoin Mining Company

US District Judge Edward Davila recently came in support of the claims against the demised Bitcoin mining company HashFast Technologies. The plaintiff in the case, Peter Morici, has sued the company’s founder and CTO for allegedly committing fraud and breaching contract. In response to these allegations, the individuals had filed a motion seeking dismissal of the plaintiff’s claims. The judge, in his recent ruling, maintained the claims made on the company, but excused the CTO for he was considered not involved in false advertising. You can read the full report here.

North American Bitcoin Exchange Announces Shutdown

A North American Bitcoin Exchange, known as Harborly, recently announced to shutdown its services, stating shrinking market share as its core reason. “When we first launched Harborly just over a year ago, we had the vision of giving our users the simplest, quickest, and safest way to buy and sell bitcoin globally using their local currency,” the company quoted. “Our team has had an incredible and exhilarating journey as a provider within the Bitcoin ecosystem as it experienced highs, lows, and everything in between.”


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Max Keiser to Play an Evil Banker in the film ‘Satoshi’s Last Will’




Crowdfunding for ‘Satoshi’s Last Will’ going On (Image source:Bitfilm)

When the crowdfunding for the world’s first feature-length feature film is on the way through Max Keiser’s Startjoin.com, it has come to notice that Max himself will play an “evil banker” in the film. The press release from Bitfilm informs that crowdfunding will star on August 25^th and will go on till they have sufficient money to complete the project.

According to the people behind the film “Satoshi’s Last Will” there is a thriller plot full of action and suspense which is expected not just to inform the viewers but also entertain them. Nonetheless, the viewers of this film will playfully learn a lot about Bitcoin and how banking mafias operate to exploit the financial system.

In fact, Bitfilm also claims that the viewers will experience a world in which governments and banks have lost their power, people live together in decentralized, voluntary communities and blockchain technology has changed the way humans interact. The film’s producer Aaron Koenig says that there are several good documentaries about Bitcoin.

However, according to him not many people watch documentaries. Therefore, he says that in order to have a significant impact on mainstream culture, one has to tell a compelling story that fascinates people. The crowdfunding campaign that is being supported by Max Keiser’s new platform Startjoin.com also accepts digital currencies as well as fiat money via PayPal.

Max Keiser is perfect for Villain Says Aaron Koenig

Thus, anyone who wants to donate to help Bitfilm complete the project can pay in fiat and cryptocurrencies. The project will be featured in the new episode of Max Keiser’s show “Crowdfactor.” Talking about the role Keiser is going to play, Aaron Koenig says that he is perfect to play a villain.

He informs that the team is still working on the script, so he is sure it will find a good role for him. The first round of crowdfunding of 80,000 US Dollars will be used for finishing the script, for casting and for production design. Though the team things the total estimated budget of the film is 2 million dollars, they will be able to meet it in the crowdfunding effort.

Aaron also admits that they will shoot most of the film in Argentina, where the level of professionalism is high, while prices are relatively low. According to him a cinema film which shows the potential of Bitcoin and blockchain technology to a mainstream audience can help to improve Bitcoin’s public image.

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The Reserve Bank of India Opens its Views on Cryptocurrencies

Though it is not for the first time that the Reserve Bank of India has shown its views to public, it is definitely for the first time that it has entirely covered the cryptocurrency space to give an idea about what it thinks with regard to digital currencies. The governor and two deputy governors made statements about Bitcoin during gatherings and gave their views.

Nonetheless, the Reserve Bank of India (RBI) deputy governor R Gandhi’s 25th August speech at the FIBAC 2015 banking conference in Mumbai focused on technological disruption and financial inclusion. During his speech he also addressed two subjects e.g. cryptocurrencies and crowdfunding which are fast becoming mainstream things for the economy.

Talking about the cryptocurrencies he said that these have the potential to be disruptive; however, they could also have undesirable consequences if left unchecked. He was quoted saying that digital currencies and crowdfunding have the potential to support criminal, anti-social activities like money laundering, terrorist funding and tax evasion.

According to Gandhi while they do not have any reported instances of crowdfunding in this respect, cryptocurrencies have been widely suspected to finance criminal activities and they have to be carefully and critically watching these developments. He also acknowledged that the technology can assist financial inclusion.

Nonetheless, Gandhi went on to say that cryptocurrency can help alleviate transaction settlement concerns. Similar views were shared by Deputy Governor Subhash Sheoratan Mundra who said that global coordination among regulators is needed to address the volatility and crime-related risks of digital currencies.

More Investigation is needed for any Action Says RBI Governor

He was quoted saying that these are the kinds of global innovations and by very nature and design; it will be something which would need a global coordination rather than a framework which can be location specific. Looks like there are similarities in what the various officials of the RBI think about Bitcoin as even the Governor thinks on the similar lines.

Earlier, in a program RBI Governor Raghuram Rajan remarked on the central bank’s policy toward digital currencies and said that more investigation is necessary before the central bank decides to take any action. He was quoted saying that they have to examine and he would say the bank shouldn’t intervene strongly until it understands cryptocurrencies better.
Rajan had concluded that the bank has to watch it, which means it has to be much more active in gathering market intelligence and in situation where it is clear that it is illegal, to bring it to the notice of law enforcement authorities.


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Flootie, the Artist Marketing Toolbox, Now Accepts Bitcoin for Subscriptions

In a press release, Flootie.com, the artist marketing toolbox, says that it has added the option for artists and art galleries to use Bitcoin to pay for subscription fees. The website that promises to support the artists through “Artists Forever” Grant Program directing “art supply” grants to grade school art classes is also for the innovation.

Bitcoin which is becoming the popular choice for donations and a number of non-governmental organizations are embracing, has now got a new taker Flootie.com. The organization claims that it has a goal to make the phrase “Starving Artist” OBSOLETE! Bitcoin is definitely going to help the artists to great extent.

As Flootie has begun accepting Bitcoin for Subscriber Registration Fees, now the artists will have a choice. Even site owner and founder of Flootie.com’s Dean Cameron seems to be inspired from the innovative financial solution Bitcoin when he says, “In today’s world you lead, follow or get out of the way.”

The artist marketing toolbox claims that its goal is to create as many options and tools available to Artists and Art Galleries to successfully market their artwork. Nonetheless, Bitcoin is yet another tool in that toolbox and artists are starting to really adopt Bitcoin as it gives them another way to sell their artwork.

Bitcoin for Flexible and Swift Payment Solution

Flootie claims that more mainstream companies are beginning to accept Bitcoin as well so they can use it to buy art supplies, personal items and now even their art marketing platform. Cameron is of the view that his organization has created a separate registration sign up page for Bitcoin users that allows for an annual membership to be purchased.
There are three levels of the prices; these prices offer a discount from the standard credit card monthly option due to the annual nature of a Bitcoin subscription. Flootie.com continues to add new features and options for our current as well as future Subscribers and we are thrilled to bring the Bitcoin option to our platform say Cameron.

Moreover, as Flootie has decades of experience and marveled the success stories of a number of artists, the decision is aimed to further help them. The subscribes to the concept of “Concentric Marketing” bringing the audience to the artists from several directions will now have additional payment option that is not just going to help them but save them money as well.

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Gavin Andresen Says Bitcoin’s Flakiness Drives People Away, BitcoinXT is Solution

Gavin Andresen, Digital Currency Developer MIT Media Lab, does not need any formal introduction because he is someone who is well recognized in Bitcoin industry for his role since 2011. His views on Bitcoin have become important as according to him the digital currency is going through huge turmoil and if it is not addressed well, it may just be doomed.

Talking with MIT Technology Review, Gavin Andresen said that transactions will become increasingly delayed, and the system of money now worth $3.3 billion will begin to die as its flakiness drives people away. He predicts dooms day for Bitcoin as Bitcoin can’t process more than seven transactions a second which is quite less given the demand is increasing.

Gavin Andresen has proposed a solution BitcoinXT where he urges the community to switch over as according to him if 75 percent of miners have adopted his fix after January 11, 2016, it will trigger a two-week grace period and then allow a “fork” of the blockchain with higher capacity.

In the interview he admitted that as Bitcoin gets closer and closer to the limit, bad things start to happen. Moreover, as networks close to capacity get congested and unreliable and of users want reliability, they would have to start paying higher and higher fees on transactions, and there will be a point where fees get high enough that people stop using Bitcoin.

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Consensus, Cryptocurrency Event, to Be Held on 10 September 2015 in New York

Consensus 2015, a unique event that will help drive the conversation and industry forward, is going to be held on 10 September 2015 in New York. The one-day event will be held on the said day from 08:30 to 18:00 (EDT) at the TimesCenter, 242 West 41st Street, New York, NY 10036 and expected to attract a number of industry experts.

The organizers claim that the digital currencies and blockchain technology cut across multiple and diverse sectors, with the potential to impact everyone from Wall Street to the world’s unbanked and the event according to them is going to provide a great platform for stakeholders. Experts and leaders across the sectors will debate and discuss at the event.

The debate and discussion according to the organizers will revolve around the real-world problems and find the solutions that cutting-edge digital currencies and blockchain tech might offer. Nonetheless, organizations like PayPal, Wells Fargo, the US Department of Justice and leading technologists and investors were among the buyers of the first batch of tickets.
According to the organizers everyone who want to explore the future of digital currencies and blockchain technology with them can register for the event.


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Wall Street Giants Invest $30m in Bitcoin Startup




A Bitcoin startup from San Francisco has received $30 million in funding from some of the leading Wall Street companies, including Visa and Nasdaq.

Dubbed as Chain Inc, the Bitcoin startup helps developers create Bitcoin application by providing rapid access to the blockchain. Its major clientele are financial institutions that — in one or another — wish to utilize Bitcoin’s underlying technology to trade and transfer financial assets. According to the Wall Street Journal, Capital One Financial Corp., Citi Ventures, Orange SA and Fiserv Inc. have also invested an undisclosed amount into the company.

The investment is the latest sign of Wall Street’s obsession with Bitcoin, a technology they once rejected as a farce. Nonetheless, these companies are more inclined towards the ledger that keeps Bitcoin tokens running throughout a decentralized network without any government or bank’s intervention.

It is an efficient, speedy and relatively cheaper mechanism to record and store transactions. However, the Wall Street companies are experimenting its potential in settling non-financial assets as well, such as smart contracts, public record keeping, etc.
Chain, meanwhile, is not the only companies that are working towards integrating the Bitcoin technology into mainstream finance sectors. Earlier, ex-JP Morgan exec Blythe Masters had also agreed to head a Bitcoin startup, for she believed in the potential of blockchain. Chain, however, seemed to have pushed itself a little head with the involvement of companies like Visa and Nasdaq.

“We believe in the power of block chain technology to transform how financial assets are transferred, but it has to be done with the right partners to insure it gets off the ground,” Adam Ludwin, CEO of Chain, told WSJ in an interview.


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Innovate Finance Partners Hartree Center for a Blockchain Lab

In a press release, Innovate Finance, the independent membership association serving the global FinTech sector, has announced that it will establish a blockchain lab for which it has entered into a partnership with the Hartree Centre. The proposed is a response to Innovate Finance blockchain members.

The members sought to come together to collaborate on developing use cases for blockchain in financial services. In this pursuit Hartree Center is going to help it as it is the high performance computing and data analytics research facility. It was founded by the UK government in collaboration with IBM and now playing pivotal role in the segment.

Blockchain Technology is Becoming Popular

Blockchain, the technology that underpins Bitcoin currency, is emerging as a popular choice among users and banks and almost every organization that is looking for revolutionary financial technology. It was built to provide a digital record of transactions on a visible ledger that is shared between different parties.

Moreover, as blockchain is emerging as one of the most talked about FinTech innovations due its potential in transforming the way the world interacts with the digital world from automatic identity authentication and data keeping to money transfer, the interest is growing up. The decision by Innovate Finance is just an indication that it too is interested in the new tech.

The New Partnership Will Bring a Wealth of Blockchain Knowledge

According to Innovate Finance, the participants of the lab will bring a wealth of blockchain knowledge to the center and in return, they will leverage the power of Hartree’s high-performance computing (HPC) solutions for their blockchain exploration. Hartree is special for various reasons that have been cited in the press release.

He was quoted saying that if they can use the lab to develop open standards for the blockchain in financial services, they will be moving one step closer to accelerating the mass adoption of this breakthrough technology. Nonetheless, the two organizations are going to help not just each other but the Bitcoin technology at large in finding the new financial solutions.


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Onename Switches to Bitcoin, Ditches Namecoin’s Blockchain

In an announcement, open-source identity protocol provider Onename says that it is switching from Namecoin’s blockchain to Bitcoin. The startup Onename made a big announcement a couple of days ago at the Blockstack Summit 2015 where co-founder, Muneeb Ali, revealed during his lightning presentation the decision.

The organization believes that the Namecoin network is not decentralized and the mining group Discus Fish controls 60-70% of its hashing power and in result, it will is switching from Namecoin’s blockchain to Bitcoin. Ali also revealed the company’s decision to the audience to move the project and its “32,000 uses” from Namecoin to the Bitcoin blockchain.

The Blockchain-Based DNS

Namecoin is a blockchain-based Domain Name System (DNS) which became known an effective solution some five years ago. It was one of the first large-scale altcoins introduced in 2010; however, it has never been able to challenge the other competitors like Bitcoin, Litecoin and even Dogecoin.

When it was formed, the team had envisioned a simple decentralized interface that operated as a readable naming system. However, unfortunately for Namecoin, Muneeb Ali and his team don’t feel its blockchain is “not secure.” Interestingly, Ali and his company still admit that Namecoin played important role in their growth to the protocol.
Ali was quoted saying that Namecoin deserves full credit for originally solving naming on blockchain; however, in the long run, everyone needs to be on the most secure blockchain. The views are diverse when it comes to security and mining problems as some in the Namecoin community admit that the mining problem is not a big deal.

Victory of the Strongest Blockchain?

According to a statement made by Ali in the next week the startup will post a blog with more details on the latest decision. Interestingly, no commentary as of yet from the Namecoin founders has come. Onename is a tool that had used the Namecoin blockchain to work with decentralized identity systems (DIS).

According to the firm, DIS uses a unique way to create a ‘name’ or unique profile to accompany users’ online blockchain verified identity. Additionally, the open-source identity provider began its project in March 2014 with the ability to create a name instead of a binary number solution or a Bitcoin address.

After the decision was made public, a lot of people in the community showed their happiness and said that it is after all the victory of the strongest blockchain.

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