In just a little less than a decade, cryptocurrency has progressed from an obscure realm dominated by high risk ventures to one of the most popular phenomena in business and investments. The technology that supports all digital currency, known as “blockchain” is also gaining significant favor. Blockchain technology is proclaimed as one of the great technological inventions since the Internet....
Bitcoin is one of the first and most popular cryptocurrencies in the world. It is a decentralized digital currency that does not belong to a central bank or an administrator. It can be sent from one user to another by utilizing a peer-to-peer blockchain network, all without any type of middleman. The inventor or inventors that go by the pseudonym...
Today’s payments industry is competing with traditional financial systems, but it’s already clear that amazingly flexible digital currency Bitcoin isn’t going to disappear any time soon. Bitcoin is changing and will continue to change people’s lives to a greater extent. If you’re a merchant interested in a reliable and low cost Bitcoin merchant account, you’re at the right place. The...
U.S., European, and Indian governments have asked Facebook to stop its plans for its newly announced cryptocurrency, Libra, until it addresses questions related to security and other concerns. Entities Current Stances on Facebook Libra Legislators from the U.S. and Europe have criticized and pushed back on Libra since Facebook unveiled its plans. Most are concerned about Facebook’s history of data...
Though advocates have sung the praises of cryptocurrency, its entrance into the mainstream has struggled mostly due its volatility and favor with cybercriminals. Until now. Major retailers, including Amazon-owned grocery store, Whole Foods, as well as Crate and Barrel, and Nordstrom, have agreed to accept Bitcoin and three other kinds of digital currency. Regal Cinemas, Gamestop, Lowe’s, Office Depot, and...
Though some believe blockchain technology can rescue businesses from chargebacks and ecommerce fraud, it may not completely solve the problem. True and friendly fraud hurt all businesses, especially mobile and online merchants. Unauthorized use of credit cards triggers cardholders to implement chargebacks, resulting expensive refunds and other penalties for businesses. As blockchain technology evolves, merchants can expect it to reduce...
Though global law enforcement officials took down two of the world’s largest dark web drug websites in the past few weeks, another site continues to peddle thousands of painkillers and other narcotics. Empire, the dark web site that sells 18,000 drugs, including oxycodone and the powerful synthetic opioid, fentanyl, continues to operate. In such a buzzworthy market, it’s not completely...
Fraud continues to be a headache for businesses of all sizes, especially midsized and large online retailers. They saw on average a 35% in fraud during 2017, according to the recently released 2018 “True Cost of Fraud” study by LexixNexis Risk Solutions. The cost of fraud is definitely expensive for these firms – every $1 of fraud costs midsized and...
Though blockchain technology has the potential to create a universal currency and revolutionize the ways people do business, expect its progress to move at a much more measured pace. Even though the technology brings about excitement for its place its eventual role in society, experts caution that the technology, which was built with a combination of encryption and transparency, should...
SEC Registration Charges Two cryptocurrency companies must return millions to investors for violating ICO federal regulations. CarrierEQ Inc. (Airfox) and Paragon Coin Inc. agreed to repay funds to their harmed investors and register tokens as securities under the Securities Exchange Act of 1934, according to the settlement they reached with the U.S. Securities and Exchange Commission (SEC). Additionally, they each...
