Bitcoin Cash, an alternative version of the digital currency bitcoin that launched earlier this month, saw its price spike sharply overnight, as much as 86% after the fledgling network showed it could handle the kinds of higher traffic for which it was built. Bitcoin Cash was most recently up 66% at $ 567. Its total market capitalization is now $ 9.4 billion, which pushed it over the $ 6.1 billion market cap of a cryptocurrency called…"‘Bitcoin Cash’ Jumps 86%, Now the Third-Most Valuable Digital Currency"
LONDON – Startups around the world are raising hundreds of millions of dollars by issuing new digital coins, a trend that has made people both excited and concerned. Over half a billion dollars has been raised through so-called “Initial Coin Offerings” (ICOs) since the start of the year, according to Richard Kastelein, a partner at the Cryptoassets Design Group, a company that helps launch ICOs. It’s an incredible amount considering that ICOs were unheard of…"People are raising hundreds of millions selling digital coins online — it’s either the future of funding or a ‘bubble’"
Microsoft is teaming up with Accenture to build a digital ID network using blockchain technology, as part of a United Nations-supported project to provide legal identification to 1.1 billion people worldwide with no official documents. The companies unveiled a prototype of the network on Monday at the UN headquarters in New York during the second summit of ID2020, a public-private consortium promoting the UN 2030 Sustainable Development Goal of providing legal identity for everyone on…"Microsoft is working on providing digital IDs to over 1 billion undocumented people around the world (MSFT)"
Jens Weidmann, the head of Germany’s Bundesbank and one of the most powerful figures in European finance, has warned that digital currencies like bitcoin have the potential to make financial crises in the future even more devastating. Speaking in Frankfurt on Wednesday, Weidmann said he believes that central banks will eventually create their own digital currencies to reassure average citizens that such currencies are safe and stable, but in doing so could increase the risk…"One of the world’s top central bankers warns digital currencies like bitcoin could worsen future financial crises"
(Reuters) – Fidelity Investments will allow its clients to see their holdings of bitcoin and other virtual currencies held on digital asset exchange Coinbase on the company’s website, said Chief Executive Abigail Johnson on Tuesday. The move will make the Boston-based asset manager one of a handful of large financial services firms to have integrated digital currencies into its website. A Fidelity spokesman said the new initiative may be launched in the second or third…"Fidelity is allowing clients to see digital currencies on its website"
There’s a civil war in the bitcoin community over the digital currency’s future. Developers, miners, and other stakeholders are locked in a heated debate over how best to scale the network, with chances steadily rising of irreconcilable differences causing a so-called “hard fork” that would split Bitcoin in two. Bitcoin is in crisis, and while there’s broad consensus that something needs to be done, there’s little agreement on what. What’s the problem? To put it…"A Bitcoin civil war is threatening to tear the digital currency in 2 — here’s what you need to know"
When a friend sent my wife and me bitcoin as a gift for our wedding last fall, we weren’t quite sure what to do with it. Should we think of the seven-year-old digital currency like an investment and try to ride its daily fluctuations like a stock? Should we convert it back into dollars and avoid the market entirely? Or should we spend the bitcoin through a vendor that accepts it? Our indecision spoke to…"I’m a Bitcoin Novice Who Rode the Digital Currency’s Rally. Here’s What I Learned"