UBS Bank to Launch Cryptosecurites Also?

Following the recent announcement of Overstock to offer cryptosecurities, UBS Bank revealed that it is currently experimenting with blockchain-based bonds as well. During his talk at IDX Derivatives Expo in London, Alex Batlin, UBS Bank’s Chief Information Officer for innovation said that they are working on smart-bonds using the bitcoin’s public ledger of transactions.

Batlin described these bonds as “risk-free interest rates and payment streams were fully automated, creating a self-paying instrument.” “The key attraction is that there is no middle or back office, and no registry, so clearly a major impact on costs,” he explained.

Bitcoin-Based Cryptosecurities

The Swiss banking giant recently formed The Innovation Lab in April and the smart-bonds is the first technology announced from this venture. The Innovation Lab aimed to explore how blockchain technologies could improve the banking sector, right after the bank published an extensive report about the benefits of the blockchain.

“I believe – and this is my personal view – that blockchain technology will not only change the way we do payments, but it will change the whole trading and settlement topic,” said UBS Group CIO Oliver Bussmann back then.

“Blockchain technologies can make banks more efficient – for example, through instantaneous settlement rather than the days it takes at present, lower costs and lower operational risk,” Batlin pointed out. “The simple lesson for banks is that if we don’t do it someone else will.”

However, one of the biggest challenges for UBS Bank is that the proof-of-work mining algorithm of bitcoin causes the system to be slow and expensive. Transactions can take an hour or more to verify and it requires large amounts of electricity via miners who verify transactions.

“All kinds of revenue opportunities can emerge,” said Batlin. “But it’s still more expensive, so there is a way to go.”

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Following the release of the “BitLicense” regulation by the New York Department of Financial Services,, an Altcoin and Bitcoin exchange platform has suspended service to all residents of New York State.

The Bitcoin and Altcoin exchange now responds to “BitLicense” Regulation and launches a new site dedicated to consumer’s protection awareness,

In response to the new regulation, ShapeShift is redirecting all site traffic from New York to the new initiative: and inviting other digital currency companies to do the same. The site provides an overview of the identity theft problem in America and encourages New Yorkers to contact their representatives and media outlets.

The company says NY’s new anti-competitive licensing scheme, violates consumer protections and puts users at risk. According to the Bureau of Justice Statistics, identity theft is a multi-billion dollar problem in America–more costly than burglary, vehicle theft, and traditional property theft, combined.

Voorhees, the company’s CEO stated:

“Identity theft is an epidemic, more costly to society than many other forms of theft and crime. It is pervasive because the antiquated financial system–based on credit cards and banks–only works when personal information is attached to your transaction. Bitcoin has finally solved this problem, by enabling 100% secure transactions without attaching your private information. Now, New York wants to mandate that consumers continue to be put at risk, even though technology has provided a solution to identity theft.”

The BitLicense requires companies to forcefully extract personal, private information from users of Bitcoin services, thereby exposing these users to hackers and identity theft. When a customer’s name, address, ID, and other private details are collected by companies, they can end up in databases which are routinely hacked and abused. In June this year alone, the private records of millions of Americans have been stolen from government computers.

Shapeshift considers that New York is ordering an unethical and dangerous data collection of users, and for that it’s suspending its services to that territory.

The company hopes other jurisdictions will be less reckless with the private information of their residents, and that their move might trigger an exodus of cryptocurrency related companies from New York.

Press Release provided By

A political group supporting US Vice President Joe Biden’s bid for presidency has announced that they are accepting bitcoin donations. The group called “Draft Biden 2016” will make use of BitPay as its payments processor, which allows donors to make bitcoin donations amounting to as much as $100 per year.

“This is in keeping with Vice President Biden’s strong support of technology and innovation throughout his career,” Draft Biden 2016 director Joseph Schweitzer told The Hill.

Bitcoin Donations for Political Causes

Several political campaigns have been looking to solicit support through the digital currency, prompting the US Federal Election Commission to rule in favor of accepting bitcoin donations last year. The presidential campaign for US Senator Rand Paul also announced that it is accepting cryptocurrency donations earlier this year.

“Ready your mobile wallet and you’ll be able to simply scan-and-donate,” added Schweitzer. “There’s no hassle with a card number, no delay and unparalleled cryptographic security.”

The group will require donors to identify themselves via an online contributor form. Draft Biden 2016 has helped lay the groundwork for Biden’s potential presidential campaign by fundraising and recruiting volunteers in early-voting states such as Iowa and New Hampshire.

Note, however, that Biden himself hasn’t confirmed if he is running for the presidential spot in the next elections. Should he run, he would compete for his party’s nomination with Hillary Clinton, the Democratic front-runner, as well as Sen. Bernie Sanders (I-Vt.) and former Rhode Island Gov. Lincoln Chafee.

Nonetheless, Draft Biden 2016 has already launched an online store which sells items with the illustration including bumper stickers, T-shirts, hooded sweatshirts and baby clothing. It unveiled a logo earlier this year depicting the vice president driving a corvette with the slogan “I’m riding with Biden” which appears in the same style as President Obama’s iconic “Hope” logo from his 2008 campaign.

A new service launched by bitcoin payments company Living Room of Satoshi allows Australians to pay virtually anyone by using bitcoin. This service called “Pay Anyone” will allow them to transfer funds directly to a traditional bank account.

“Bitcoin users can now pay their friends, tradesmen and anyone else; even if the recipient has no knowledge about bitcoin,” says CEO Daniel Alexiuc. “This is a vital piece of payment infrastructure that is now available to all Australians.”

Payments Using Bitcoin

Living Room of Satoshi is a payments company that enables payment of any bill using bitcoin, the currency of the internet. Their customers pay phone bills, electricity bills, school fees, credit cards, tax payments and more using bitcoin through the the BPAY® system.

The company was launched in May last year and was named in honor of Satoshi Nakamoto, who was the mysterious author of the paper that introduced bitcoin back in 2008. The company has processed over $500,000 of Australian bills paid using bitcoin and has won the TechCrunch’s “Best New Startup in Australia” in April, along with “Best in State” for Queensland, with the company’s headquarters in Brisbane, Australia.

This new service should draw a lot of interest, as it would allow customers to transfer funds instantly and seamlessly without having to withdraw and deposit from one bank to another. The company doesn’t have any charges for its bill payments transactions but hasn’t mentioned if its “Pay Anyone” service will have any. Nonetheless, it could still prove to be a cheaper way to transfer funds compared to conventional modes like credit cards and online accounts.

The service works on the company’s website and you simply have to shift the field from Bitcoin bill payment, which is called BPay, to a bitcoin transfer screen, where you can enter the banking information required to start a transfer.

Rick Famuyiwa-directed indie comedy movie “Dope” has become the first movie to accept Bitcoin for ticket purchases, The Wrap announced today. The American movie studio, Open Road Films has partnered with Bitcoin payments processor GoCoin to accept Bitcoin in ticket payments.

Earlier in May, Lionsgate Films had partnered with GoCoin to accept Bitcoin in payments.

The movie, whose producers and executive producers include Forest Whitaker and Pharrell Williams, will be released on June 19 in more than 900 theaters in the United States.

Moviegoers can purchase the film’s tickets using Bitcoin at popular online movie ticketing portal,

And there is an interesting story behind the film accepting Bitcoin: the film revolves around a self-proclaimed geek named Malcolm (played by Shameik Moore) who makes quite a few references to the cryptocurrency.

In the early part of the film, Malcolm says,

I just read that money as we know it is dead. Soon the world is only going to buy and sell products using Bitcoins. It’s like a complicated math equation.

Open Road Films Chief Marketing Officer Jason Cassidy says that choosing Bitcoin as an innovative payment method for movie tickets seemed like a natural idea given that Bitcoin plays an integral role in the movie. “Bitcoin is an integral part of ‘Dope’ and we could not be more excited to bring this unique new opportunity to moviegoers.

CEO of the movie ticketing website Joel Cohen said that opportunities such as this are great, for a business to tap into. thrives on these types of opportunities,” he said. “It’s cool, it’s original and we’re going above and beyond the common boundaries to drive ticket sales.

Dope has been enjoying tremendous social media success since its excellent debut at Sundance Film Festival this year. So, have you booked your tickets yet?

Earlier this morning we published our twice-daily bitcoin price watch analysis piece. We highlighted the levels that we would be looking at during the European session, and suggested how we would respond to price reaching these levels. Now action has matured throughout today’s session, what are the levels that we are keeping an eye on in the bitcoin price this evening, and how can we get in according to our scalp strategy and draw profit from the market? Take a look at the chart.

bitcoin price

As you can see from the chart, the levels that we were keeping an eye on this morning remain the ones to watch as we head into the beginning of the US afternoon session. In term support lies at 230.99, while resistance sits at 235 flat.

We have traded around in term resistance all day, having reached it earlier this morning and corrected a couple of times on retests. Now trading just shy of 235, it looks as though we may well get a breakout over the coming couple of hours. With this in mind, we will look for a close above 235 flat to validate an initial upside target of 240, with a stop loss somewhere around 233.5 maintaining positive risk reward profile on the trade.

If we get a correction from 235, we will look for some downside momentum to put us short on an intra-range trade towards a short side target of in term support at 230.99. Looking further ahead than this, a close below 230 would validate a medium-term bearish bias towards an initial downside target of 226 flat. On this entry, a stop loss somewhere around 233 will maintain a 2 to 1 risk reward profile, and ensure we are taken out of the trade in the event that price returns to trade within the range on a reversal.

Charts courtesy of Trading View

European Commission (EC) has invested €1.95 million in D-CENT to build a decentralized blockchain powered tool for direct democracy and economic empowerment.

D-CENT, which stands for Decentralized Citizens Engagement Technologies, is an initiative launched to bring citizens to a decision-making forefront. It is in fact a decentralized social network platform where people of Europe are allowed to discuss and share content, participate in community discussions, and even vote — each feature ensuring a democratic decision making module.

Released in 2014, D-CENT is now close to launch its pilot programs in multiple countries, the first ones being Spain, Italy, Iceland, and Finland. Under these pilot programs, D-CENT will be deploying blockchain-based digital currencies (such as Bitcoin) in parallel with the traditional ones to fund the direct democracy experiments.


“Goal is to extend, scale and link up community digital social currencies, and create building blocks for an economy that links exchange to trust, deliberation and collective awareness.”

For instance: D-CENT is reportedly collaborating with one of the Iceland’s municipal corporations, where it will deploy cryptographic blockchain technologies for a political participation-based reward system. The project will also be lending hands to Eurocrat complimentary currency, a Barcelona-based initiative to decentralize service hosting and data custody.

In addition to the aforementioned initiatives, the D-CENT’s other projects include building a decentralized social remuneration system in Finland and launching a special digital currency for Italy’s culture sector, called Commoncoin.

The aforementioned projects, as diverse as they may seem, have one common objective: offering citizens the platforms to bottom-up their social and economics needs. Perhaps it is the only reason why EC, alongside some of the most prominent universities and organizations from Europe, are supporting D-CENT, for it brings forth the true depiction of Bitcoin technology — giving power back to the people.

Bitcoin has rallied roughly 7% in June on the back of strong momentum buying and continues to target higher valuations. The cryptocurrency has registered the breakout that we all have been waiting for, and that may cause immense trouble to the short-sellers. However, one interesting observation is that Bitcoin humbled the extreme selling pressure on the eve of US Fed’s meeting which is expected to dole out important clues regarding the timing of the much-anticipated interest rate hike.


Why Does Interest Rate Concern Bitcoin?

Interest rates concern all aspects of the economy, including the cryptocurrencies. The interest rates in US have been kept at record lows, to spur the investment cycle and kickstart growth. Low interest rate is generally viewed as an effort by the central bank to infuse more liquidity into the system, and therefore US dollar remained under pressure until the Fed finally announced the end of massive QE program in October last year. Since then, the US Dollar Index has been surging to exorbitant levels pricing in an interest rate hike announcement. When the Fed postpones the hike, dollar weakens versus other major currencies (see the chart below).

us dollar indexImage:

Similarly, investors could be pricing in another “no-action” meeting and, therefore, US dollar is failing to strengthen against other currencies. This significant aspect of US dollar action could be fueling a steady rise in the Bitcoin value.

By the time, the two-day Fed meeting to start from tomorrow concludes, Bitcoin may have advanced significantly more following the same principle. However, if Fed Chair Janet Yellen decides to surprise the market with a rate hike, US dollar may appreciate strongly against other currencies, including Bitcoin.

This is not to say that US Fed meeting is the only trigger for the rally; there may be other positive developments as well! But it would be interesting to watch how Bitcoin performs post the meeting.

TORONTO, ONTARIO, CANADACoineer Magazine, owned and operated by Confluent Technologies Inc. (Confluent Technologies), have entered into a franchise agreement with NewsBTC to become the Canadian arm of the popular Bitcoin news service. As a result, Coineer will now operate as NewsBTC Canada.

NewsBTC, founded in October 2013, aims to publish useful news articles, interviews, and other pieces of information that help you better understand the Bitcoin ecosystem. The editorial vision is to deliver hard news and analysis — not speculation and rumours. NewsBTC attracts more than 100,000 unique visitors each month.

In 2012, Confluent Technologies launched the first Bitcoin magazine available in both print and online editions: Coineer – The Bitcoin Magazine for Business.  After publishing its first two issues, Confluent Technologies decided put Coineer into safe-harbour until the market matured. Due to the increased media attention and a rise in the profile of Bitcoin and cryptocurrency in 2014, Coineer started to explore options to re-enter the market.

Jonathan Millet, CEO of NewsBTC, said:

“We are very excited about working with a strong member of the community like Confluent Technologies. We believe that reporters should report from inside the community, and Toronto is one of the largest Bitcoin communities in the world.  By choosing a local strategy, we feel that we can deliver more accurate and engaging content.”

The new site is scheduled to launch July 2015.
About NewsBTC.

NewsBTC is a news service that covers Bitcoin news, technical analysis, and forecasts for Bitcoin and other altcoins. The website publishes news articles, interviews, and other information that help its users better understand the Bitcoin ecosystem under categories such as regulation, taxation, price, exchanges, brokers, bitcoin casinos, mining, podcasts, Bitlicense, and advertisements.

About Confluent Technologies Inc.

Confluent Technologies is a media and software development company with 15 years of experience creating software and content. For more information please visit:


There are many ways to make use of bitcoin – from profiting from its price fluctuations to using it as a means of fund transfer or remittance. However, the cryptocurrency still hasn’t become a main mode of payment or medium of settlement among most merchants and establishments. Can it really achieve mainstream adoption?

One major issue is that the price volatility of the currency makes it a less acceptable store of value, which then makes it a challenge to conduct transactions using bitcoin. Over the past year, price has plummeted significantly, making a unit of bitcoin have a much lower purchasing power compared to a few years back.

Bitcoin as Store of Value

If bitcoin can’t maintain its value, then many are worried that it could become worthless later on and not useful in any kind of transaction at all. “For bitcoin to become money,” says Noah Smith, “it has to figure out how to massively reduce the volatility of bitcoin prices of goods and services.”

Scanning the long-term charts of bitcoin reveals that volatility has declined in the past months as well. This has led to more stable trading conditions, with price slowly falling compared to the sharp drops seen in the past.

Industry experts say that this has been a result of a growing market and bitcoin ecosystem, which is good for the cryptocurrency. Further developments in the field could lead to even more price stability, which could keep prices stable enough to hold bitcoin for much longer without worrying about losing its value.

Of course there could be market factors that could usher in an increase in volatility once more, such as the introduction of ETFs and CFDs that could allow investors to trade bitcoin. Speculative trading could push prices around and lead to volatile price swings again.