Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Market
News of the Competition (07/14/2014)
  • WASHINGTON (7/14/14)--As Bitcoin grapples with the volatility of its digital currency, a tech-startup in Santa Monica, Calif., may have found a way to sidestep the problem and offer a more stable online "dollar" ( The Wall Street Journal July 8). Realcoin soon will announce its own online money, called realcoins, which the outfit will back with a reserve of real dollars on a one-to-one basis. This mechanism, creators say, will hold down the volatility that Bitcoin has struggled with as it has grown internationally. While the currency would be different from Bitcoin, it would rely on the same innovative blockchain-algorithm that validates digital coins by keeping track of a virtually unalterable sequence of time-stamped transactions used by Bitcoin. "Unfortunately, there has been confusion for people between the currency called Bitcoin and the technology called bitcoin, when they are distinctly different things," Realcoin CEO Reeve Collins told The Wall Street Journal . "(In effect) we are digitizing the dollar and giving that digital dollar access to the bitcoin blockchain"...


RSS





print
News Now LiveWire
HFSC Chairman @RepHensarling announces subcommittee chairs for #114th Congress: http://t.co/FGnvnogI7n
10 hours ago
Don't Mullet Over: Check out @ECCU1's meme-rable campaign that brought in $8M in loans #NewsNow http://t.co/vNh2q01gcg
12 hours ago
#FOMC minutes show committee members debated erasing 'considerable time' from forward guidance #NewsNow #Market http://t.co/Gw0bEIFCe2
14 hours ago
NCUA votes 2 to 1 to approve 2015 budget: McWatters is dissenting vote.
15 hours ago
.@TheNCUA bd mmber McWatters at #NCUAbdmeeting invited specific, detailed comments on budget/budgetary process to be sent directly to him.
16 hours ago