Seven big banks in Europe have formed a new group to create a Blockchain-controlled, cross-border trade financing platform for both small and medium-scale enterprises in the region. These institutions formalized their agreement by signing a Memorandum of Agreement (MoU) recently. The banks are: HSBC (UK) Rabobank (Dutch multinational) Societe Generale (France) Natixis…

A recent report issued by the European Parliament was all about crypto-currencies like the Bitcoin. This is part of the priorities of the European Commission (EC) in dealing with Anti-Money Laundering (AML). The agency looks at accomplishing this before 2017 ends. 10 Priority Areas of EC European Commission President Jean-Claude Juncker assumed leadership of the EC…

People are looking for more ways to use Bitcoin creatively. These range from storing the coins and use these to get the most up-to-date gadgets to special offers and price-offs. Bitcoin has climbed to a new record peak of $1,150. The perception of people and institutions that used to be doubtful about the crypto-currency has…

Big conglomerates worldwide have filed patent applications for the Bitcoin currency. Some of these multinationals include Amazon.com; AT&T Global Network Services; IBM; Goldman Sachs; Bank of America; MasterCard; JPMorgan Chase; R3 Consortium; Verizon; and, Western Union. Patent Not Possible for Bitcoin The bad news is Bitcoin cannot be patented. Satoshi Nakamoto is said to be the…

Reports came out that certain industries will try to experiment with Smart Contracts through Bitcoin this year. Smart contracts have gained popularity in 2016. Many banks, financial companies and investors continue to explore possible benefits of protocols based on Smart Contracts like Ethereum in developing original and decentralized apps. Yet, the Ethereum Network ($930 million) has…

The Russian Government believes the Bitcoin currency and other virtual currencies no longer pose a threat to the country’s financial system. This was the announcement made Deputy Chairwoman Olga Skorobogatov of the Bank of Russia (Central Bank) and the country’s Federal Monitoring Service. According to a report from TASS news agency, Deputy Minister Alexei Moiseev said…

As indicated by reports leaving the German press, a study directed by the Deutsche Energie-Agentur (German Energy Agency) and ESMT Berlin has uncovered that numerous German vitality organizations as of now have a Blockchain innovation guide set up for future usage. Seventy industry heads were met in the overview and around 39 for each penny of…

Robbery in the computer has taken a novel turn these past years. Between April 2014 and June 2015, more than $18 million were paid to ransomware thieves using Ransomware to infect computers. To be rid of the infection and restore its normal use, they demanded large sums of money. Users must pay a ransom, typically…

Before I discuss the answer of this highly significant question, I want to briefly describe what Is Bitcoin and block chain because they both are inter related. Bitcoin is basically digital currency. The category of Bitcoin which is increasing rapidly is Cryptocurrency. It is actually developed by a software programmer naming Satoshi Nakamato. Bitcoins are…

These days it’s in the news that U.S Energy seeks block chain research proposals.  The U.S department of Energy (DOE) is nowadays searching for block chain technology. Here a question arises that WHY it is doing that? Why Block Chain has become so important for it that it’s actually finding ways for block chain research proposals. Firstly…