Bitcoin Is The Financial System Of The Future: Economic Historian

It recent years Central bankers are being warned by researchers that cryptocurrency will overtake them as the main prevalent financial system.

Niall Ferguson, a British economic historian has told the Bank of England that Bitcoin is the financial system of the future.

He stated that the threat of being subverted by Bitcoin is real and pose as one of the major challenges ahead for the current fiat-based system.

Niall is not the only academic figure that looked at how bitcoin fits economic history, Professor Rover Shiller, who receive the Nobel prize 2013 in economics and published an article about the way the allure of bitcoin fits enthusiasm around previous attempts to reinvent money.

Bitcoin Pizza Guy: Laszlo Hanyecz

Laszlo Hanyecz is the man behind the inspirational purchase of two pizzas form Papa John’s For 10K bitcoin back on May 22, 2010, making this year the 8th Pizza Day’s eight year anniversary.

The momentous event that marks the first time-ever recorded transaction of Bitcoin for a physical good, Jeremy Studivant also played a major role as the recipient of 10,000 BTC that he turned into two pizzas. According Laszlo, he never felt regret in spending those bitcoins back in 2010.

He explains that he just wanted people to use bitcoin and buying pizza was one way to do that. He also reveals that up until now his favorite crypto is still bitcoin and he try to keep it as a hobby.

Jeremy on the other hand has said that he has got in his hands around 40,000 BTC early on but has long converted it long ago before it really took off. Jeremy said that up until now he still uses bitcoins to buy and sell pizza.

Coinbase Expedited ERC20 Support Through DEX Acquisition

It has been widely reported that cryptocurrency exchange giant Coinbase has acquired little known decentralized exchange Paradex.

The CEO of Coinbase Brain Armstrong, has stated that it is part of their initiative to expand globally and service customers outside the United States.

The company wants to participate in the nascent industry of wallet-to-wallet trading initially offering it to customers outside of the U.S. and eventually to U.S. customers.

Paradex is widely seen as a decentralize exchange for ERC20 tokens but Coinbase has categorize it as relayer platform instead of a full pledge Decentralize Exchange to avoid scrutiny from the U.S. Securities and Exchange Commission.

The acquisition and rebranding of GDAX to Coinbase Pro and acquisition and integration of Paradex is seen as a shortcut to support ERC20 support.

London Company Trademarks Bitcoin

A London-based company it seemed to have successfully acquired a trademark the name “Bitcoin.”

The UK-based firm called “A.B.C. IPholdings South West has sent Etsy, a cease and desist order because they are selling Bitcoin-themed t-shirts. Bitcoin was trademarked using the Intellectual Property Office in the UK on December 22, 2017.

This comes as a shocked to many cryptocurrency enthusiast as there were many failed attempts before to trademark Bitcoin.

Back in 2015 nonprofit organization Bitcoin Foundation published a plea to individuals and businesses asking them not to copyright the term bitcoin. It believes that Bitcoin alone should not be the intellectual property of any individual or entity.

One Of The Largest Bank In The Philippines Implementing Ethereum

UnionBank, one of the Philippines largest bank has partnered with ConsenSys, founded by Ethereum co-founder Josep Lubin to assist local financial institution in integrating Ethereum and blockchain-based platforms.

Justo Ortiz, the chairman of UnionBank, stated that the Blockchain could crack the hole of financial inclusivity if implemented and commercialized appropriately.

UnionBank and ConsenSys will collaborate to utilize kaliebo, Blockchain enterprise solution launched on top of the Ethereum Blockchain protocol to process transactions securely and transparently.

ConsenSys Solutions Lead in Asia Pacific, Alai Garcia said that UnionBank is the organization’s first bank client in the Philippines. He also added that the Philippines could be one of the few regions that can leverage Blockchain and gain maximum benefit of using Blockchain in public and private sectors due to its unique financial structure.

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