There has been a lot of talk about Donald Trump and his plans to build a physical wall around Mexico. This plan would be set in motion to prevent remittance solutions originating in the US, and coerce the Mexican government into paying for this wall in the end. But Bitcoin will quickly sneak around this border, making Trump’s plan seem ever more silly than it was in the first place. Also read: Shapeshift Update: Security Breach Could be an Inside Job Donald Trump, Remittance, and Bitcoin For a Presidential candidate, issuing statements such as “building a wall between the US and Mexico and halting remittance transfers” do not go over well with the general population. As ludicrous as this plan sounds, Donald Trump would like nothing more than go ahead with this…
With all of the recent talk about a cashless society, the question inevitably turns to the role of Bitcoin and other digital currencies. Some people would like to see more anonymity in Bitcoin, especially when considering how going cashless would give banks and governments a complete overview of how consumers spend their funds. Also read: Dridex Banking Malware Now Delivering Bitcoin Ransomware! Going Cashless Means No Financial Privacy Although some people might be in favor of going cashless – who likes those coins and paper bills anyway? – there are a lot of downsides to this concept as well. First and foremost, consumers would completely rely on banks to access their money, which could lead to financial institutions charging fees for even the most…
Even though Russian government officials will not see eye-to-eye with Bitcoin and digital currency anytime soon, the Central Bank of Russia is forging ahead with their plans to integrate blockchain technology. This decision is in stark contrast to the political guidelines being proposed to ban digital currency and its technology in the country. Also read: Bitcoin Price Technical Analysis for 04/08/2016 – Headed for Larger Channel Bottom? Central Bank of Russia Wants Blockchain Technology People versed in the concept of blockchain technology are well aware how there many benefits to using distributed ledgers. Not only are they more secure for record keeping and transaction processing, but there is an added layer of transparency that cannot be found in any other…
Many people often tout Bitcoin as a perfect tool to launder money and sluice funds to offshore bank accounts. But if there’s one thing the Panama Papers leak has taught the world, it is that people won’t go through all of that trouble when the traditional financial ecosystem offers a far more convenient solution to perform money laundering on a global scale. Also read: Ethereum Price Technical Analysis 04/07/2016 – 100 MA As Resistance The Legacy System Makes Money Laundering Relatively Easy Anyone who would be looking to participate in money laundering through offshore bank accounts has no reason to go through the trouble of dealing with Bitcoin exchanges or ATMs. In fact, the popular digital currency is far too transparent to move funds around…
Barclays, the British banking giant is not new to digital currency and blockchain technology. The bank, known to encourage and work with innovative technologies has taken another step in that direction by announcing its recent partnership with Circle, a bitcoin social payments application. According to the partnership, Barclays, the mainstream banking major will be offering its infrastructure for a private company to deliver services. The partnership will allow Circle Internet Financial to include pound sterling and euro support to its bitcoin-based social payment application. The US company has been operational in the United States for a while now where it offers peer to peer money transfer service over its bitcoin-powered platform. The money being transferred…