There’s a Blockchain Application For That: BTCMANAGER’s Week in Review for June 5
This week, BTCMANAGER caught up with Bitcoin evangelist Roger Ver, Bitwage’s Jonathan Chester and economist Ashe Whitener. The news focused primarily on advancement in the blockchain space with stories about the BAFT and Coin Center addressing a report on distributed ledger technology by the Office of the Comptroller of the Currency and about how Microsoft, ConsenSys and Blockstack Labs have teamed up to develop an open source, blockchain-based identity system initiative. And, as always, we followed the story of bitcoin’s bullish price action.
Compiled from contributions by Joseph Young, Jamie Holmes, Michael Scott, Diana Ngo and Nuno Menezes.
On May 31, 2016, Bankers Association for Finance and Trade (BAFT) and non-profit Bitcoin research and advocacy center Coin Center published their official responses to the Office of the Comptroller of the Currency’s (OCC) perspective on supporting responsible innovation and emerging technologies such as distributed ledger technology.
BAFT and Coin Center expressed general optimism for the supportive financial regulations which the OCC proposed and provided some of their own suggestions and proposals which could further benefit the cryptocurrency community and maximize the potential of the distributed ledger technology.
This week, the markets for BTC-USD continued bullish momentum with fresh highs above $570. Buyers are slowly bidding the market toward fractal resistance at $597 and we could see a spike above $600 in the weeks ahead. If the market fails to sustain itself above this important fractal level then we should see a downwards slide to the mid-$500s.
The “Mile High City” of Denver, Colorado was recently the site of an event featuring iconoclastic Bitcoin evangelist, investor and voluntarist Roger Ver. Co-Hosted by Liberty On The Rocks and Liberty Entrepreneurs, it was held at Southern Hospitality Restaurant, which has the distinction of being the first major restaurant in Denver to accept Bitcoin. BTCMANAGER was in attendance at Ver’s event and was able to capture a few of his responses to audience questions, including his how he got back into the U.S. after having trouble obtaining a visa, what his position is on the block size debate and why he doesn’t like the monniker “Bitcoin Jesus.”
In a feature interview, BTCMANAGER’s Michael Scott converses with economist Ashe Whitener of Euro Pacific Bank to discuss his podcast Liberty Entrepreneurs, his views on altcoins and cryptocurrencies, and the direction and significance of Bitcoin.
Microsoft, ConsenSys and Blockstack Labs have teamed up to develop an open source, blockchain-based identity system initiative intended to address human right crimes which are generally aggravated by the lack of legal identification. The new collaboration will focus on bringing together the developer community from around the world to further develop uPort, an identity solution initially created by ConsenSys, that has the capability to create and manage identification for the 7.4 billion people on the planet.
The system was designed so users are fully in control of their personal information, which they can choose to selectively share with specific counterparties. This represents an opportunity for the 1.5 billion people who don’t have proper legal identification. The three companies hope it will help solve societal problems such as human trafficking, which currently generates US$50 million every year.
Development on the Ethereum blockchain is growing, and so is the demand for Ether (ETH), the “fuel” that is needed to participate in these developments. Ethereum has the potential to bring about decentralized autonomous organizations and take down the traditional corporate models of organization. In an interview with BTCMANAGER, Bitwage’s Jonathan Chester discusses how Ethereum aims to become the leading cryptocurrency amongst smart contracts.
KinerjaPay has become the first prominent e-commerce portal in Indonesia to let customers purchase goods using bitcoin. Launched today, the new payment method results from a partnership with Bitcoin Indonesia, the country’s leading bitcoin exchange platform. The collaboration with Bitcoin Indonesia is part of KinerjaPay’s plans to tap into the digital currency area as the company intends to “establish relationships with Bitcoin’s Indonesia’s membership, currently in excess of 150,000 accounts.”