The UK government now has its first official blockchain provider for public services August 1, 2016 Every single public sector organisation across the UK will be able to use blockchain technology for the first time after the government rubber-stamped fintech startup Credits as one of its approved suppliers in a major step forward for the potentially revolutionary technology. It's the first time a company working with blockchain's distributed ledger technology (DLT) has been given the thumbs up, and [...]
Blockchain, the technology behind digital currency bitcoin, makes a splash in insurance to offer a solution to homeowners renting out part of their property March 10, 2016 SafeShare is making digital waves by launching the first blockchain-based insurance solution for the sharing economy on the market. The insurance startup, in partnership with Vrumi, is offering the product, which was created with Z/Yen Group and using open source timestamp service MetroGnomo, to homeowners. Sharing economy firm Vrumi allows homeowners with extra rooms to [...]
Silk Road creator Ross Ulbricht seeks new trial January 13, 2016 Silk Road creator Ross Ulbricht is seeking a new trial, nearly eight months after being convicted and sentenced to life imprisonment for his role in running the infamous dark web market. 31-year-old Ulbricht, who went by the memorable moniker “Dread Pirate Roberts”, was sentenced to life in prison in May after a federal court found [...]
Blockchain technology is useful – just not for everything January 20, 2016 You may have heard of blockchains and Bitcoin as exciting new innovations but you’d be forgiven if you’re confused about what they are or their relationship to each other. Blockchains provide a way to store information so that many people can see it, keep a copy of it, and add to it. Once added, it [...]
Silk Road website creator Ross Ulbricht aka Dread Pirate Roberts found guilty February 4, 2015 The man accused of creating the website Silk Road could face a life sentence after being found guilty on all charges. Ross Ulbricht was convicted by a federal jury in Manhattan on seven charges, including drug trafficking, money laundering offences and computer hacking, after three hours of deliberation. The 30-year-old was accused of being Dread Pirate [...]
Bitcoin breaks new boundaries by slashing cost of remittances November 28, 2013 Bitcoin continues to break new boundaries as Kenyan start-up BitPesa, announced it will be going head-to-head with money transfer services such as Western Union by using the virtual currency Bitcoin to cut transaction costs for remittances. Established providers such as Western Union deduct between $10 (£6) to $17 (£10) from a wire transfer of $200 [...]
What the other papers say this morning – 3 October 2013 October 2, 2013 FINANCIAL TIMES FBI raid $1bn Silk Road black market US authorities have seized more than $3m worth of Bitcoins after closing down Silk Road, the online marketplace that allegedly allowed more than a billion dollars of illegal drugs and illicit services to be bought using the virtual currency. As part of the raid, the Federal [...]