P21-BLOG

By: Benscha
Posted: Saturday, April 16, 2016 - 03:38

Zurich/Delaware, March 2015. The owner of the Payment21®-brand is now registered as a financial intermediary in Switzerland. The third-party processor is supervised  by  a semi-governmental  regulatory  organization  for compliance  with  Anti-Money-Laundering  (AML)  laws  and Know-Your-Customer (KYC) rules. This regulatory body acts on behalf of the Swiss Financial Market Authority.

By: Benscha
Posted: Saturday, April 16, 2016 - 03:46

Taking into account that Bitcoin could revolutionize the existing methods of payment, the Bank of England’s “One Bank Research Agenda Discussion Paper” investigates the possibility of minting its own cryptocurrency.

By: Benscha
Posted: Sunday, April 17, 2016 - 00:41

German Fidor Bank brings Bitcoin to mainstream banking and expands overseas.

Fidor Bank CEO Matthias Kroener commented: “The prompt conducting of Bitcoin transactions from one bank customer to another bank customer enhances security massively. As such Fidor Bank is setting a further milestone in digital banking.”

By: Benscha
Posted: Sunday, April 17, 2016 - 00:43

The other day we were discussing the possibility of state-made cryptographic coins for book money creation by banks.

In such a scenario, banks would issue digital money against credit following the pattern of book money creation. At the end of the day, there would be digital cash pegged to legal tender besides the usual metal coins and paper monies.

By: Benscha
Posted: Sunday, April 17, 2016 - 00:45

The new finance minister of Greece outlined in a detailed blog post, how a Bitcoin-like virtual currency could be used to get around the ECB’s monopoly on money creation.

By: Benscha
Posted: Sunday, April 17, 2016 - 00:34

IBM-expert is bullish on Bitcoin: “This is a field where you truly have to be interdisciplinary to make progress.”

Richard Gendal Brown is IBM’s-architect on innovation in banking and financial markets. In a Finextra interview he talks about the future of Bitcoin.

By: Benscha
Posted: Monday, April 18, 2016 - 16:31

An event to be held by the Society for Worldwide Interbank Financial Telecommunication (SWIFT) next month is set to include a panel of payments and cryptocurrency professionals.

Taking place in New York, the Business Forum panel will discuss cryptographic protocols and their potential impact on correspondent banks, those that provides services to other financial entities.

By: Benscha
Posted: Monday, April 18, 2016 - 16:37

Singapore-based bitcoin startup CoinPip is one of 10 technology companies selected by a government agency to represent the country at this year’s South by Southwest (SXSW) event in the US in March. Notably, this is the first time a national government has shown such support for bitcoin enterprise development.

By: Benscha
Posted: Monday, April 18, 2016 - 16:42

Cryptography protects basic privacy rights of Bitcoin owners. Digital money has a potential for criminal misuse – just like paper money. Therefore, regulators and bank’s compliance officers are concerned about the anonymity that comes with plain cryptographic transactions.

By: Benscha
Posted: Monday, April 18, 2016 - 16:48

A site called http://www.YesToBitcoins.com allows for the purchase of gift cards with bitcoins, similar to eGifter and Gyft. In addition, YesToBitcoins comes with the ability to pay all Canadian credit cards in bitcoins. 

By: Benscha
Posted: Monday, April 18, 2016 - 16:52

Currently, there about 280 Bitcoin ATMs worldwide. This number was reached in less than a year. Some Bitcoin enthusiasts compare Bitcoin ATMs with bank ATMs but forget to mention that there are more than 2 million of them available worldwide. It took 40 years to arrive at this impressive number. Rome was not built in a day.

By: Benscha
Posted: Monday, April 18, 2016 - 16:57

In case you still believe cryptographic means of payment (e.g. bitcoin) is dangerous:

By: Benscha
Posted: Monday, April 18, 2016 - 17:00

The idea of using a durable light-weight substance as evidence of a promise to pay a bearer on demand originated in China during the Han Dynasty in 118 BC, and was made of leather.

By: Benscha
Posted: Monday, April 18, 2016 - 17:02

For many developing countries, agriculture plays a major role in the economy with numerous cash transactions taking place throughout the farm-to-fork agriculture value chain. This paper proposes a three-step approach for replacing the cash payments made by large buyers (e.g. lead firms, cooperatives) to smallholder farmers with digital payments.

By: Benscha
Posted: Monday, April 18, 2016 - 17:04

Will people’s trust towards digital currencies dramatically increase in the future? 

Begin accepting digital payments in 5 easy steps