Jan 252016
 

Blockchain or Distributed Ledger Technology

The big news last week was the company Digital Asset Holdings raising $50 million from a bunch of top-names in the financial industry. And yes, these are some of the top financial institutions in the world. Here’s a list: ABN AMRO, Accenture, ASX Limited, BNP Paribas, Broadridge Financial Solutions, Inc., Citi, CME Ventures, Deutsche Börse Group, ICAP, J.P. Morgan, Santander InnoVentures, The Depository Trust & Clearing Corporation (DTCC) and The PNC Financial Services Group.

Two things should stand out to you in this list. One is the presence of Accenture, which is the only non-financial services company in the space. Accenture is investing quite a lot into ‘blockchains’ and startups involved in this space, so keep an eye out on their moves. The second is a notable absence of Goldman Sachs, which has been very vocal in its support of both Bitcoin/blockchain and startups. The CEO of Digital Assets is a former JP Morgan executive. Don’t expect the entire financial industry to reach a consensus overnight and everyone’s happy using Digital Asset’s technology. That’s almost guaranteed not to happen.

Bitcoin to Blockchain to ‘Distributed Ledger Technology’

The other interesting thing to stand out from the press release is what it lacks. Firstly, there is not a single mention of Bitcoin (not very surprising). Secondly, there is no mention of blockchain from Digital Asset at all. The entire press release contains just one mention of blockchain, which is a quote from Accenture talking about “blockchain-enabled distributed ledgers”. The phrase “Distributed Ledger“, on the other hand, is mentioned 11 times in the press release. Interestingly, the press release contains quotes from all the institutions who invested in this round, and they too all use ‘Distributed Ledger Technology’ instead of the word ‘Blockchain’.

The industry has gone from Bitcoin to Blockchain to Digital Ledger Technology in fairly quick succession. The transition from Bitcoin to Blockchain is understandable – it is to include so-called ‘private blockchains’ that banks can use among themselves or internally within an organization. The transition from Blockchain to Distributed Ledger Technology is more interesting.

Digital Asset isn’t going to disclose the products they’re working on, so it is hard to say if there is any difference. My best guess would be a parallel creation of some sort of distributed file system like IPFS perhaps, that goes with a private blockchain, thus enabling not just the sharing of transaction-level information, but also other heavy data like documents.

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Jan 062016
 
The Rise and Pivoting of Bitcoin API Startups

Today, Gem, a Bitcoin API provider, raised $7.1m in its Series A round bringing the total money it raised to $10.4m. That’s a significant chunk of money for the California-based startup and a nice piece of news in 2016 for the Bitcoin economy. After all, another Bitcoin API company, Chain, raised a total of $43.3m […]

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Oct 032015
 
New York's Bitcoin Center Reopens in SoHo

New York’s Bitcoin Center, which previously closed its location at 40 Broad Street just steps away from the now largely historic New York Stock Exchange building, has re-opened in the trendy SoHo neighborhood of Manhattan. The new location is at 25 Cleaveland Place, former restaurant and bar. The new location has a large outdoor space […]

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Sep 232015
 
How to Invest in Bitcoin

As Bitcoin gains popularity as an alternate asset class, there are several ways how to invest in Bitcoin, but as an investor, it is important to note the pros and cons of each, and also learn to protect yourself. This should not be construed as an investment advice in Bitcoin. The post will just help […]

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Sep 192015
 
Bitshares Surges with High Volume Amidst Anticipation of 'Bitshares 2.0'

Bitshares, the cryptocurrency that introduced Delegated Proof of Stake as its consensus mechanism and issues collateralized assets on the blockchain, called BitAssets, is seeing a comeback in price with high trading volume as it prepares for the launch of its next phase, ‘Bitshares 2.0′. The new release has promised a bunch of new features and […]

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Sep 172015
 
What is Bitcoin? The Government Seems Confused

In its short history of 6 years, Bitcoin has become a lot of things. It is “currency” for some, “digital gold/commodity” for others, and a “protocol” for some others. And all possible combinations of these as well. Now, it seems like the government too is unable to make up its mind about what exactly Bitcoin […]

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Aug 182015
 
The Safest Real Money Bitcoin Casinos

This is a Sponsored Post by bingokingz Bitcoin is a virtual crypto-currency which hit the mainstream in 2011. It immediately exploded in popularity mainly because of its unique characteristics. Bitcoin is not controlled by a central bank unlike the other currencies and it cannot be found in physical form. It operates only in peer to […]

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Aug 172015
 
Augur Raises Over $500,000 on First Day

Augur, the decentralized prediction marketplace to be built on top of Ethereum, has raised over half a million dollars on the very first day of the crowdfunding. The crowdfunding program has been eagerly awaited by investors, as they bet on future applications of cryptocurrency beyond just currency. The team had to wait for an official Ethereum […]

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Aug 092015
 
Companies Leaving New York Ahead of BitLicense

The full effects of New York’s dreaded ‘BitLicense’ laws for startups are becoming more apparent as the deadline for compliance looms, with many Bitcoin startups and entrepreneurs closing their services to New York residents rather than spend hundreds of thousands of dollars trying to get a BitLicense. This move could have a profound effect on New […]

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