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Due to extreme volatility and back and forth fluctuations of Bitcoin noticed previously, the most talked about the argument is that if Bitcoins and its peers are overruled or still intact. Financial institutions and similar authorities have managed to maintain a safe distance from this digital currency market during the whole stretch. Embracing all the risks and jeopardies, Goldman Sachs has risen with the plan of establishing the first Bitcoin trading desk in the Wall Street.

crypto investor

But what resulted in the giant wall street titan like Goldman to dip toes in the crypto world? According to a Goldman executive, this step was taken keeping in regard a lot of queries and requests by the clients and also crypto investors. A good number of people showed their interest and curiosity in holding Goldman Sachs Bitcoin as their alternative asset.

The First desk

Goldman has hired Justin Schmidt as their first digital asset trader to grip the daily operation. Having a former experience with a hedge fund, Schmidt is determined to navigate the client’s interest in exchange and transaction of the Bitcoin. With an extensive past experience and knowledge, Justin Schmidt has joined one of the most vaunted banks as a vice president and head of Digital Asset Market in the institution’s Securities division.

Being the first major U.S bank to take such initiative, holding the reputation for always staying ahead of its peers, the institution is dedicated to measuring possibilities and options to entertain their clients play with digital crypto if they wish to.

The Breakdown of The Protocol

The facilitation and assistant Goldman is giving to the crypto world will definitely raise institutional transaction and trading of Bitcoin. Raising these legitimacy bars, the cryptocurrencies are beginning to rise up to the ‘seen’ surface levels.

Though following by many significant absurd comments, Goldman is very hopeful and certain about its position. Goldman concludes that they don’t think Bitcoin is a fraud and they honor their client’s interest to hold Bitcoin as a valuable commodity. After receiving inquiries from hedge funds and clients who received the donations in the form of these digital currencies and weren’t aware how to deal with it.

Being extremely volatile and unpredictable, a great deal of uncertainty comes readily with this currency. After a massive hit seen by the start of the year, the prices of Bitcoin have recovered certainly. being fully aware of the risks and certainties of the nature of the initiative, Goldman claims to be knowing what they are getting into.

Insight

Goldman Sachs Bitcoin trading will not be initiated right away. To entertain and engage crypto investors, they have planned on trading Bitcoin Futures using their own money on the clients’ behalf at start. Running the trade via its New York desk, they are expected to launch its own version of futures too. So, it will not be an actual trading of the crypto, just the trade of non-deliverable forward futures. These trades will further be settled in regulated fiat currency it was quoted in.

The follow-up

Following the footsteps of Goldman Sachs Bitcoin as the first regulated financial institution to propose such a service, it is expected other banks in line to follow the same lead. But the biggest name ruling out the scenario is the British multinational investment bank, Barclays. According to the presenters, they think this crypto world to be fraud, infectious and delusional. But the key point is a market grown as big as this one, for how long you can ignore it. This initiative by Goldman Sachs shows how far this crypto market has traveled and come under limelight to be considered worthy in the eyes of these wall street titans.

But it is highly hoped, this initiative is not just stopping right here. After reaching its peak by the end of last year and its recession by the start of this year, the hopes with this digital currency has risen. Despite a downfall by 48%, the volatility of this currency is expected to be increased during time due to the more people entering down the pool of this crypto world. It is expected to cross by $50,000 by this year. There are more and more acceptance and support expected in the following next five years in regard to this cryptocurrency.

Despite the firm faced criticism, Goldman Sachs has proven itself as the utmost technologically sophisticated institution on wall street.

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Intel Blockchain Technology: Can Blockchain Technology Overpower Next Generation Media Rights?

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Intel is a multinational corporation and technology company, which is considered as a giant tech, and the company is finally joining the rising list of initiative firms that perceive blockchain tech as a way to reinterpret digital rights management.

Intel’s Patent 

On 8th March, U.S. Patent and Trademark Office released a patent application. In that patent, a method was described by the Silicon Valley tech company to use blockchain for downloading the rights to digital images. Intel’s patent proceeds to referenced videos and various other types of content, apart from images and offers a more inclusive rights system with further extra characters.

intel blockchain technology

Let’s take an example! Intel’s system allows its users to uphold everything in progress, which includes unstructured bits like; literature with many editors. This would be the only way in which content can be solely altered according to the copyright policy settings.However, Intel is somehow far away from pursuing the idea all alone.

On the other hand, in addition to the exertion of blockchain industry, such as Berklee’s Open Music Initiative companies, including two of the Chinese companies, in order to make headlines for the same ideas in recent weeks are;

  • ZhongAn
  • WENN Digital

Patent’s Statement

In the patent application it is stated as;

“Blockchain technology is used to document and verify attributes of digital content that are relevant to copyright protection. Such attributes may include, for instance, an identifier for the author of the content, a timestamp to indicate when the content was created, and a measurement that can subsequently be used to detect copying or modification of the content.”

As it is already defined, multiple types of software are being used by this proposed platform to evaluate copyright policy settings automatically for every image, it doesn’t matter if the picture has been taken from external sources. After that, a unique identity is formed for both the original content and altered versions (if there are any). The patent has labelled these two identities as shadow-images.

The company also filed a patent, back in 2016, for blockchain-powered software in order to benefit research DNA, genetic sequencing, particularly. The patent is updated as well which makes Intel to go on a hunt to secure its intellectual conceptions, which are related to the industry.

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5 Advantages of Digital Currency – Is This the Currency of the Future?

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Do You Want to Become Independent of Banks?

The last few years have all been about cryptocurrencies as more and more people are becoming aware of the word. In particular, terms such as Bitcoin, Ethereum, and Litecoin are more common in the digital currency department.

Here are some of the best performers in the market:

  • Bitcoin
  • Ethereum
  • Bitcoin Cash
  • Ripple
  • Litecoin
  • IOTA
  • NEM
  • Dash
  • NEO
  • Monero

 


How Are Cryptocurrencies Meant to Help You?

With the world becoming more and more economically dangerous, we are advancing towards different means of payment. This is where cryptocurrencies come in to play.  Below we’ve outlined a few pros and cons of accepting cryptocurrencies worldwide.

Advantages and Disadvantages of Using Cryptocurrencies

The benefits of using digital currency over fiat currency

  • Accessible by everyone: Out of 7 billion people, around 2.2 billion don’t have access to exchange systems, even while having cell phones and internet access. These individuals can easily access the cryptocurrency market, as there are so many mobile phone-based applications that allow you to transfer digital currencies.
  • Fraud: Digital currencies cannot be faked as real money is, and they can’t be reversed either as in credit card charge-backs.
  • Low Fees: Cryptocurrency exchanges ask for transaction fees which are quite low compared to other transaction charges, this is in return given to the miners as a reward for mining a block.
  • Identity Theft: There is no such issue with cryptocurrencies as identity theft since you are not revealing any personal information. It is a simple process, involving a public and private key.
  • No Third Party: Cryptocurrency transactions do not revolve around any central authority, it is completely independent. You are in control of your money.

In the end, technology is already here, it’s just a matter of acceptance. You must be able to weigh out the good and bad and decide what is the better choice for you. Cryptocurrencies are becoming an easier option of payment for many users since they’re fast as well as secure. If the above advantages are convincing and you’re wishing to buy some bitcoins or any other cryptocurrencies, then follow the link below.

Related: How to Buy Bitcoins?

 

Story Credits: ameerrosic.com

Image Credits: google.com

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Checking your current balance using any Bitcoin wallet address

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Bitcoin Wallet

A bitcoin wallet is basically a vault for your private keys. After installation, a bitcoin address will be generated, which you can disclose to your friends in order to carry out a transaction. A Bitcoin address is generated at random and is just a sequence of numbers and letters. You can generate a new bitcoin address for each transaction. All of the confirmed transactions are added to the blockchain.

The private key is used to sign the transactions in order to prove that it has come from its rightful wallet owner. Just like a Bitcoin address, it is also a combination of alphanumerics, but this cannot be disclosed to anyone. To know more about Bitcoin wallets, go here.

 

To ensure that your bitcoin address has received the funds or just to view the previous transaction history, you can use the Blockchain explorer.

A Bitcoin Blockchain Explorer is a web tool that lets you view information about blocks, different addresses and details on when transactions have taken place.

All you need to do is paste your address into the search box, and the website will display all the transactions taken place linked with that bitcoin address.

You can even search multiple addresses at once. This will display the transaction history of each of those addresses, as well as the overall balance of bitcoins. You can separately view each transaction’s details- date and time, input, output and miner fee.

bitcoin wallet address

 

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Cryptocurrency News: Putin’s Endorsement Gives a Boost to Ethereum

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As investors look for a safe place to store their assets, Ethereum – the second largest cryptocurrency after Bitcoin – is getting a boost, thanks to Putin’s endorsement of the currency.

The Main Story:

Ethereum continues to skyrocket after the Singapore government and the Russian president Vladimir Putin publicly showed their support to the currency. The latest Monday morning saw the currency trading at $407.10, a record rise of more than 5000% since the start of 2017, where Ethereum was trading at just $7.98.

The Russian president and Vitalik Buterin ­– founder of Ethereum – recently had a meeting during St. Petersburg International Economic Forum. According to some experts, the occurrence of this meeting suggests that Russia is willing to open its doors to using cryptocurrency in an attempt to make their economy less dependent on oil and gas.

“The digital economy isn’t a separate industry, it’s essentially the foundation for creating brand new business models,” said Putin at the forum.

The recent shift in Putin’s stance has had an immediate impact as the Russian entities such as the State Development Bank VEB, have agreed to use Ethereum.

Meanwhile, the government of Singapore has also released a report about their recent attempts of using Ethereum blockchain and creating their own digital currency.

Japan is also issuing new rules about making Ethereum a valid form of payment. Some major companies such as Microsoft and Toyota have shown their support for Ethereum too.

In conclusion, Ethereum is getting support from all across the globe and is likely to experience even more boost in the coming days. So, if you are looking for a safe digital investment option, Ethereum is the way to go.

Story Credits: vanityfair.com

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Why Gibraltar Officials Are Considering to Regulate ICO Tokens As Commercial Products?

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Some new details have been provided by the government of Gibraltar about its strategy to regulate the ICOs (initial coin offerings) in a white paper. According to the paper, most of the tokens are not considered as securities under the EU law. Government officials and regulators are anxious due to the classification of ICOs and tokens, and in the major countries like China, they are considering to ban the whole blockchain use cases.

blockchain use cases

What does the whitepaper say?

Certainly, it’s also stated in the paper that;

“In many cases, [tokens] represent the advance sale of products that entitle holders to access future networks or consume future services.”

On the other hand, the document also argues that these tokens are not securities but, commercial products. In the white paper, an authorized sponsor’s regime was also summarized in which every ICO issuer, distributing or selling tokens in Gibraltar will require to hire a person who could oversee the sale and make sure that it follows the regulations. Ultimately, the release comes within a long-running procedure of creating regulatory limitations for the blockchain technology within the United Kingdom crown dependency.

Officials Point of View

In February, the representative of Gibraltar Financial Services Commission and Gibraltar Finance Centre said that the execution of the sponsorship scheme was just a part of their market-driven strategy for regulating ICOs and was just an attempt to avert a one-size-fits-all strategy. According to the document, the regime is definitely going to mean the market, but not the regulators. Also, it could define what a good token sale actually looks like.

In December, a blockchain-focused bill was passed by the legislators in Gibraltar and laid the basis for an ICO bill earlier, when an advisory was also issued back in September. It is also stated in the white paper that the Gibraltar Financial Services Commission (GFSC) will;

“Authorize and supervise secondary token market operators”

Also, it will establish;

“A public register of such operators.”

In addition to that, token-related investment guidance will be also regulated by the government, which includes;

  • Generic advice
  • Product-related advice
  • Personal recommendations

The white paper also specifies that by the end of this year, Gibraltar will wrap up its blockchain-related governing. The paper also says;

“A draft Bill is expected to be ready by the end of March 2018. Draft Regulations for the promotion, sale and distribution of tokens should be ready in May 2018. The last of the three Regulations should be completed by the end of October 2018.”

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