One of the more intriguing results of implementing blockchain technology is how it allows people to trace payments back to their origin. Unlike what most people assume, Bitcoin is a far cry from being anonymous, as all transactions are broadcast on a transparent ledger visible to anyone. Europol is looking for someone who is skilled in this field, as Bitcoin tracing is apparently of interest to them.
When people hear the name “Bitcoin Mini” for the first time, they might expect to see a Bitcoin-branded Mini Cooper zipping through traffic. Unfortunately, that is not what this Bitcoin Mini is about, even though that doesn’t make it less exciting. Running a full Bitcoin Node at home is becoming incredibly easy, and the Bitcoin Mini is another plug-and-play solution.
Bitcoin and crowdfunding have been a bit of a mixed bag. Various Bitcoin projects have had great success when it comes to reaching crowdfunding goals, whereas other equally promising projects won’t even reach 40% of the amount required. Regardless of all of these statistics, decentralized crowdfunding is definitely attracting a lot of attention as of late.
Removing The Need For Third-Party Support To Hold Funds
The concept of crowdfunding is a revolutionary idea, both for individual investors and aspiring entrepreneurs alike. Rather than relying on one or two major angel investors to help an entrepreneur’s idea come to fruition, every individual on this planet can back a project in exchange for items or privileges of some degree.
The major focus for Bitcoin and blockchain technology has been on the financial aspect over the past few years. This focus stems forth from the Bitcoin price volatility that was marked by its highest price point in 2013 and has gone down ever since. But we are losing track of what blockchain technology will allow us to do, assuming it is executed properly.
The Next Development Revolution Hailing From London?
London, England has been the financial capital of the world for quite some time now. It should come as no surprise then to find out that London is also attracting quite a lot of Bitcoin-related companies and developers. After all, any decent project will need proper funding, and what better place to secure that funding than the financial capital of the world?
Bitcoin technology allows us to do a great many things in all aspects of life. Not only can we use Bitcoin as a payment method for various goods and services – both online and offline – but the underlying technology has tremendous potential. And one of the most interesting adaptations of that technology comes in the form of smart contracts.
Smart Contracts – The Optional Human Element
The beautiful thing about smart contracts is that they work in the same manner as any regular contract, drawn up between multiple parties. A certain set of expectations has to be met to validate the contract and create a favourable result. In most cases, that result will be the change of money from one party to (an)other(s).
Using Bitcoin is a rather straightforward task for enthusiasts, but it is not so easy – or appealing – for mainstream consumption just yet. Even though there are various projects underway to change that and there are plenty of use cases for Bitcoin already, sometimes, you have to know where to look.
Bitcoin And Stigmas
As much as we would like to view Bitcoin as a regular currency, that is simply not possible right now. Without getting too technical, Bitcoin has certain fungibility issues which prevent it from being labelled as a proper currency. On the other hand, Bitcoin does have its merits as both a payment method and from a technological point of view.
Bitcoin and blockchain hackathon events are becoming more and more common as of late, which can only indicate a growing interest in digital currency technology. Singapore recently held its very first Blockchain Hackathon, which was sponsored by IBM and DBS Bank. And there was also strong support from Singapore’s Coin Republic and Neuroware.
Three Winners Announced
The main objective of holding a hackathon is to spur development, bring new ideas to the table and get a fresh perspective on everything blockchain-related. After all, there are tons of smart people and aspiring developers out there who are waiting for a chance to showcase their next revolutionary idea.
With so many people looking at the technology that powers Bitcoin and other digital currencies, we are in for some exciting innovations in the years to come. But while most of the focus is on “traditional” ideas such as peer-to-peer tipping and microtransactions, there are quite a few other categories developers seem to shy away from for some reason.
Those are the five “biggest” categories that could stand to benefit tremendously from Bitcoin and blockchain technology. Let’s start off with email: a lot of people receive unsolicited mail on a daily basis, despite having strong spam filters and not using a certain email address on sites they often frequent – such as a company email address for example.
If you have ever been fortunate enough to have a Bitcoin conversation with another person in a face-to-face (or peer-to-peer) environment, you may have noticed how people subtly distinguish Bitcoin and bitcoin, even when speaking out loud. Why this happens is rather easy to explain, as Bitcoin and bitcoin are two completely different sides of the same coin. Oddly enough, we label the combination of both sides as “Bitcoin” with a capital B as well.
Bitcoin : The Capital B
When it comes to Bitcoin adoption in Europe, you can see that many people are trying to push the awareness level of Bitcoin to new heights, but on a grand scale of things, we are still lagging behind. Luckily for us, several “major” retailers also offer services in Europe, so we are not left out entirely. However, unlike the American continent, Europe is seeing several Bitcoin cities pop up across several countries. Belgian Bitcoin enthusiasts are trying to turn (a part of) Ghent into their own Bitcoincity initiative.