Though heading to the supermarket to buy a few everyday items with cryptocurrency remains a vexing proposition, new technology promises to provide account holders to to precisely that. Even better, the company behind this innovation believes that merchants will find the process as convenient as shoppers. According to representatives from…
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Cryptocurrency
CFO of well-known Australian bank leaves his mainstay for cryptocurrency
The CFO of a prominent Australian bank has announced that he is leaving the financial institution to take a job in the field of cryptocurrency. Rob Jesudason tendered his immediate resignation as CFO of Commonwealth Bank of Australia on May 14, 2018. Jesudason has been tapped to become the CFO…
Blockchain: A Digital Ledger for Crytocurrencies
One of the biggest perks of blockchain technology is its decentralized nature. Because in blockchain data is stored on peer to peer networks, the risks associated with storing data in a central location are eliminated. The fact that cryptocurrencies are not tied to a specific nation or government is one…
Kodak takes a big step in the cryptocurrency market
Reuters reported that on May 10, Wenn Digital, the founder of a Kodak licensed, blockchain image rights platform, made an announcement on Thursday that they will accumulate up to $50 million worth of token offerings in both public and private crypto investments. Wenn Digital has created their own image protection…
Buffet continues his crusade against cryptocurrency. Here's what he said
The unflattering commentary on cryptocurrencies routinely offered by Berkshire Hathaway CEO Warren Buffet continued apace at the company's May 5 annual meeting. According to CNBC reporting, Buffet reiterated his position that cryptocurrenices are destined for what he termed a "bad ending," and used "rat poison squared"…
A large cryptocurrency account was closed in 2017. Here's why
Nordea Bank closed the account of Bitmynt AS toward the end of 2017. Bitmynt AS is a Norwegian-based cryptocurrency exchange with a fairly large user base. In December 2017, its founder, Sturle Sunde, sued Nordea Bank for the illegal closure of its account. Months went by as the case developed,…