Soaring value
Bitcoin is growing from strengh to strengh in light of encouraging news from Washington lawmakers and recent growing popularity in China. As a resut the digital currency has smashed though the USD1000 mark on Mt.Gox.
The sharp rise in price comes less than two months after Bitcoin’s value plummeted to USD109 as a result of the FBI’s Silk Road coup. Founder of the deep-web online market place Ross Williams was arrested in Ulbricht. Nevertheless, the Silk Road raid has eventually led to bitcoin’s value rising.
Consequently, the virtual currency has been given a cautious thumbs up by various US government agencies at a Senate hearing this month. Bitcoin’s price responded to the news by jumping from less than USD500 to nearly USD750.
Over in Asia China is relaxing its regulatory environment as it further integrates into the global economy and this is encouraging rapid bitcoin uptake.
Whitepapers
Related reading
Central banks best suited to issue digital currencies
By Aaran Fronda A recent report by the Official Monetary and Financial Institutions Forum (OMFIF) said that central banks rather than private ... read more
Instant payments: innovations inbound for corporates
In 2020, instant payments look set to continue their current trajectory to become the biggest trend in payments. While these schemes already offer numerous benefits to corporates, leveraging innovations such as APIs and request to pay will go some way to unlocking their full potential, argues Michael Knetsch
Obstacles exist for banks to meet ECB’s instant payments goal
The cost of joining instant payment platforms will be one of many hurdles banks and payment services providers must overcome to meet ... read more
Banks must be aware of “biases” in data used to train ML models
Financial institutions need to be conscious of biases in the historical data that is being used to train machine learning (ML) models, ... read more
