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Archive for the ‘finance’ category

Jun 11, 2015

Bitcoin Adoption: Series of reactions

Posted by in categories: bitcoin, cryptocurrencies, economics, finance, government

What is Bitcoin?

Bitcoin-05-t-s
Sure—You know the history. As it spread from the geeky crypto community, Bitcoin sparked investor frenzy. Its “value” was driven by the confidence of early adopters that they hitched a ride on an early train, rather than commercial adoption. But, just like those zealous investors, you realize that it may ultimately reduce the costs of online commerce, if and when if it becomes widely accepted.

But what is Bitcoin, really? To what class of instruments does it belong?

• Ardent detractors see a sham: A pyramid scheme with no durable value; a house of cards waiting to tumble. This is the position of J.D, an IRS auditor who consults to The Cryptocurrency Standards Association. As devil’s advocate, he keeps us grounded.

Continue reading “Bitcoin Adoption: Series of reactions” »


Jun 6, 2015

Exponential Finance: Financial Advice In the Age of AI and Long Life — By Jason Dorrier SingularityHub

Posted by in categories: economics, finance

http://cdn.singularityhub.com/wp-content/uploads/2015/06/future-financial-planners-4-1000x400.jpg

Ric Edelman is one the top financial advisors in the US. His firm, Edelman Financial Services, has 41 offices across the country. And he thinks, all things constant, most financial advisors as we’ve known them won’t be around much longer.

At Exponential Finance, Edelman said, “I firmly believe that in the next ten years, half of all the financial advisors in this country will be gone.” Read more

Jun 2, 2015

The Arctic’s Internet Is So Expensive That People Mail the Web on USB Drives — Via Motherboard

Posted by in categories: business, computing, economics, finance, governance, hacking, policy, strategy

“Canada’s domestic digital divide, with the North as its epicenter, has been a point of growing concern over the last several years. Much of the internet in the northernmost regions of the country is still beamed down by satellites, but a plan to link Europe and Asia with fiber optic cable via Nunavut is currently being negotiated by a Toronto-based company called Arctic Fibre.”

The Arctic’s Internet Is So Expensive That People Mail the Web on USB Drives

May 27, 2015

MIT’s President: Op-ed on Innovation

Posted by in categories: business, disruptive technology, economics, education, finance, government, innovation, policy, science, strategy

“[T]he United States needs a more systematic way to help its bottled-up new-science innovators deliver their ideas to the world.”

A better way to deliver innovation to the world

Mar 16, 2015

Bitcoin Alternative DNotes Focuses On Banking Solutions And Stability While Venture Capital Investment Continues At Record Breaking Pace

Posted by in categories: bitcoin, business, cryptocurrencies, disruptive technology, economics, finance, innovation

Quoted: “DNotes can best be characterized, as a second generation Bitcoin alternative digital currency. It objectively studied Bitcoin’s strengths and weaknesses as well as threats and opportunities. DNotes was created on February 18, 2014 with an objective to meet the full functions of fiat currency as a unit of account, store of value and medium of exchange within three years. It decided to take a very different path since day one in building a trustworthy stable digital currency with reliable long term appreciation.

Central to DNotes long term strategic plan is the creation of highly scalable building blocks, as the foundation of its own ecosystem. Those strategic building blocks include CryptoMoms; a currency neutral site dedicated to encourage women participation, DNotesVault; a free secure storage for DNotes’ stakeholders with 100% deposit guarantee with verifiable funds, and CRISPs; a family of Cryptocurrency Investment Savings Plans for everyone worldwide. The core mission of CRISP is to make the savings opportunity available to everyone; from the unborn to the most senior; from the unbanked to the super rich. The opportunity for anyone to participate irrespective of financial standing, coupled with combined charity efforts will bring about much needed financial freedom for millions worldwide.”

Read more here > http://www.pressreleaserocket.net/bitcoin-alternative-dnotes.….ce/109719/

Mar 8, 2015

Could Abra be Bitcoin’s “Killer App”?

Posted by in categories: bitcoin, business, cryptocurrencies, disruptive technology, economics, finance, innovation

Quoted: “At the event, CEO Bill Barhydt said: “Our mission with Abra is to turn every smartphone into a teller that processes withdrawals. This is not just another bitcoin app. The wallet is a full-fledged digital asset management system, and you don’t have to understand it.”

Use of the application is straightforward and relies on a network of people around the world who act as tellers, charging small fees to help people transfer money abroad. A user can deposit funds into his or her account using a debit card or by meeting up with a teller in person and handing them cash. Then those funds can be instantly — the power of Bitcoin — transferred anywhere in the world. The person receiving the money has only to find a teller, show that he or she is the recipient of the funds, and exchange the digital cash (denominated in USD) back for their local currency.”

Read the article here > https://bitcoinmagazine.com/19490/abra-announced-launch-festival-2015-seamless-remittances-powered-bitcoin/

Feb 12, 2015

Platforms, not products, are the way to bring financial services to the poor

Posted by in category: finance

Leo Mirani — Quartz

In recent years, the banking and finance industries have not done a lot to earn the trust of consumers in the West. But in poor countries, basic financial services can be transformative.

Even in today’s wired world, many people still stash cash under the mattress, where inflation erodes it away. When they want to send money, they have to find a way to physically transport it. Loans are doled out in bundles or envelopes from moneylenders, at exorbitant rates. Emergencies or unforeseen circumstances can drive a family into penury.
The financial services these people need may come via mobile banking, as Bill and Melinda Gates wrote recently in their annual letter. Basic banking services—from simple payments and transfers to insurance, savings, and loans—are now possible on the simplest of mobile phones, as Quartz has reported.

Feb 9, 2015

Bitcoin’s Unique Features Lighten Up its Ambiguous Future

Posted by in categories: bitcoin, business, computing, cryptocurrencies, economics, finance

Where will Bitcoin be a few years from now?

The recently concluded Bitcoin & the Blockchain Summit in San Francisco on January 27 came up as a vivid source of both anxiety and inspiration. As speakers tackled Bitcoin’s technological limits and possible drawbacks that can be caused by impending regulations, Bitcoin advocate Andreas Antonopoulos lifted up everyone’s hope by discussing how bitcoins will eventually survive and flourish. He managed to do so with no graphics or presentations to prove his claim, just his utmost confidence and conviction that it really will no matter what.

On the currency being weak

There have been statements about Bitcoin’s technology surviving, but not the currency itself. Antonopoulos, however, argues that Bitcoin’s technology, network, and currency are interdependent with each other, which means that one element won’t work without the other. He said: “A consensus network that bases its value on the currency does not work without the currency.”

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Feb 2, 2015

The Mathematical Wonders behind Bitcoin

Posted by in categories: bitcoin, business, education, encryption, finance, hacking, hardware, information science, innovation, privacy

Vires in Bitcoin

Bitcoin as a cryptocurrency has had its moments of strength and weakness. The technology behind bitcoins, however, is a different story. While skeptics don’t expect a lot from Bitcoin as an alternative currency because of its volatility, they do have high hopes for the technological innovation that powers it, believing that it can be further developed to create something much powerful than Bitcoin itself.

To those who know Bitcoin as a great way of transacting online, but don’t completely understand its dynamics, it’s time to get acquainted with the cryptocurrency’s mathematical wonders that make anonymous, faster, and cheaper transactions of moving funds on the internet possible.

Most of us know that Bitcoin uses the SHA-256 hashing algorithm, but hashing serves a different function and purpose from that of digital signatures. Hashing actually provides proof that a message has not been changed because running the same hash always generates similar result.

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Jan 22, 2015

How Technology Behind Bitcoin Could Transform Accounting As We Know It

Posted by in categories: bitcoin, complex systems, computing, cryptocurrencies, disruptive technology, economics, finance, governance

Quoted: “We’re not there yet, but in less than 10 years, I believe that the technology behind bitcoin will transform the accounting profession entirely. What is this technology? The blockchain. Let me set the scene by going over a few bitcoin related concepts before explaining why I think that the accounting profession will undergo a major disruption in the coming years.”

Read the article here > http://www.techvibes.com/blog/how-technology-behind-bitcoin-.….;01-22

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