Dub 29

Industry Report: EU Gets Serious, Blockchain Does Healthcare

Source: bitcoin

ECB EU

Want to catch up on the latest digital currency news? Recently, the EU has been making waves in the blockchain space. Take a gander at the stories below to see what you’ve been missing.

Also read: Industry Report: Kraken, Others Receive Large Investments

THE EU

The European Union is getting serious about bitcoin. Digital currency exchange Bitstamp has received an official license from Luxembourg, a little country with some large aspirations, making it Europe’s first fully regulated institution for bitcoin. Several newcomers are now looking to get in on the trade, and crypto popularity in Europe is expected to increase tenfold.

The license is set go into effect on July 1st of this year. One of the highest priorities of all digital currency applications is customer safety, and Bitstamp isn’t willing to take any chances.

Co-founder and CEO Nejc Kodric explained in a press release:

“We have put a lot of time and resources into the regulatory process with the goal of ensuring customers feel more confident in using Bitstamp’s exchange and products across the European Union… We are proud to have taken this important step for our customers and the digital currency/blockchain industry globally.”

BLOCKCHAIN HEALTHCARE?

First came Obama’s Affordable Healthcare Act; Obamacare. Now, the blockchain is spreading its wings in the world’s health industry, and the ways we do medicine and emergency surgery are about to undergo some massive changes.

With the introduction of Gem Health, a blockchain based around healthcare data is emerging with the goals of keeping records and data safe and sound, and connecting people on a global scale to reasonable and accessible healthcare providers. It is also being implied that Ethereum will be integrated for the handling of private health infrastructure.

Micah Winkelspecht, founder and CEO of Gem, stated:

“Blockchain technology will create a new fabric that connects the entire healthcare industry, weaving together critical data from every stage of the continuum of care… Blockchains address the trade-off between data availability and data security. For healthcare, this enables hospitals, insurance companies and labs to connect in real-time and share information instantly and seamlessly – without exposing those channels to theft or forgery.”

Through Gem Health, those in need of appropriate medical attention can likely rest assured that their information will be kept private and invulnerable to dangers like hackings and related cyber-attacks.

What stories would you like to see mentioned in our weekly industry reports? Post your thoughts and comments below!


 

Images courtesy of Ugandaexports.go.ug & unomaha.edu.

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Industry Report: EU Gets Serious, Blockchain Does Healthcare

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Led 20

BitGo Instant: ‘Eliminates Bitcoin Transaction Delays’

Source: bitcoin

Transaction

PALO ALTO, CA — Today, BitGo announced the launch of its new service, BitGo Instant. BitGo claimed that this service is “the world’s first way to safely receive zero-confirm Bitcoin transactions with a full financial guarantee. Along with the announcement of its launch, BitGo reported that it has a “strong list of initial partners,” to recognize the zero-confirmation transactions. These partners include, Bitfinex, Bitstamp, CoinHako, FoldApp, Genesis Trading, Kraken, ShapeShift and Unocoin. 

Also read: Protect Yourself From these ShapeShift.io Based Scams

BitGo Instant: A Guaranteed Zero-Confirmation Transaction

BitGo Instant with a multi-signature wallet implementation. BitGo Instant wallets consist of 3 keys: one held by BitGo, one held by the user, and one held on behalf of the user by a third-party Key Recovery Service (KRS). Two signatures are required on every transaction on a BitGo wallet, and in the usual case this would be done by BitGo and by the user. BitGo claimed that it will never co-sign a transaction that is a duplicate spend, leaving only the possibility of the user and the KRS “conspiring” to double spend. BitGo will attempt to prevent this by having a contract with any KRS it uses that requires the KRS to give BitGo advance notice of any signatures it makes.

BitGo has guaranteed these zero-confirmation transactions. In the event of financial loss from a BitGo Instant transaction, the company said that customers will be able to file a claim and will “be compensated in full by BitGo.”

The company is marketing its new service as a good way to avoid losing value to bitcoin’s volatile exchange rate. According to BitGo, it was unsafe to accept zero-confirmation transactions before its BitGo Instant service, because it was “possible for the sender to spend the money elsewhere before the transaction is confirmed.” This risk led many Bitcoin businesses to require multiple confirmations before crediting a deposit. BitGo said that these wait times were inconvenient and risky in themselves, because “in the volatile Bitcoin market, a delay in moving funds to an exchange can mean the loss of thousands of dollars on a large transaction.”

Bitstamp CEO Nejc Kodrič — one of BitGo Instant’s initial partners — was excited about the announcement of this new service. Kodrič told press:

“BitGo Instant is an elegant solution that lets users send bitcoin quickly and easily. Many bitcoin businesses would love to be able to accept zero-confirm transactions, but it’s been too risky to consider until now. We’re excited to be supporting this much-needed innovation from day one.”

BitGo is a multi-signature technology companies, and offers a suite of services aimed at facilitating secure bitcoin transactions. The company offers BitGo Enterprise, an enterprise-grade, multi-sig, multi-user Bitcoin wallet, and BitGo Platform API, a robust set of tools and services to access the underlying platform. BitGo recently announced handling of $1 billion of bitcoin transactions per quarter. The company was founded by veterans in online security, digital currency, and financial technology, and has raised more than $14 million in financing to date.

What do you think about BitGo Instant? Let us know in the comments below!


 

Featured image courtesy of BitGo.

The post BitGo Instant: ‘Eliminates Bitcoin Transaction Delays’ appeared first on Bitcoinist.net.

BitGo Instant: ‘Eliminates Bitcoin Transaction Delays’

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