Digital Currency Weekly Recap 11-15-2015

digital currency


Digital Currency Weekly Recap 11-15-2015


Apple Approves Cryptocurrency Game Apps.

After approving Saru Tobi and Game of Birds earlier this year, Apple’s App Store has now approved another Bitcoin-using game app, called Wheel of Bitcoins. Like those earlier games, Wheel will provide users with real Bitcoins, earned in-game and delivered to the player’s wallet. This time, the game involves a roulette wheel that is spun to offer players a chance to win prizes. When Bitcoins are awarded, they are sent to the player’s email through Xapo.

According to reports, Apple has expressed its approval for these Bitcoin-paying games’ presence in their store. That is good news to app developers seeking to use their games to increase awareness of cryptocurrency and help it gain greater mainstream approval. To date, the most serious complaints have come from users who are dissatisfied with the identification process used by Xapo - since its user verification methods are nearly as in-depth as those used for many financial institutions.

CEX.IO Partners with Trading View for Real-Time Charting.

CEX.IO, the UK-based Bitcoin exchange recently declared that it has partnered with charting platform TradingView, in a move that will see its exchange added to the latter’s listing. This will provide CEX.IO’s users with the ability to view the company’s trading information on TradingView’s browser-based platform. The partnership should give exchange customers increased access to advanced trading analysis tools to facilitate more in-depth data access and research for trading and investment purposes.

Justice Department Crypto Summit Facilitates Improved Dialogue.

A recent summit hosted by the U.S. Department of Justice saw more than 170 different participants from government and the private sector come together to discuss issues related to digital currency and the blockchain. The meeting occurred in San Francisco, and involved personnel from both state and federal regulatory bodies and law enforcement agencies, blockchain and cryptocurrency companies and advocacy groups, and representatives from the worlds of finance and technology.

The summit was put together by the head of the multi-agency Digital Currency Task Force, Kathryn Haun. The assembled attendees discussed regulatory concerns and a host of other issues in what has been described as a much more relaxed environment than the last meeting almost a year ago. Unlike that February meeting, the most recent gathering was conducted in a friendly atmosphere, and the parties reportedly enjoyed a much more constructive dialogue.

Differing Opinions on Future of Cryptocurrency.

This week continued the trend of various personalities and government officials offering their own personal perspectives on the future of cryptocurrency. For instance, Jamie Dimon continued his habitual dismissal of Bitcoin and other digital currencies, while continuing to praise the blockchain. In his latest prophesy of crypto doom and gloom, the JPMorgan CEO went so far as to declare that governments will simply not allow these uncontrolled currencies to exist.

USB’s chairman Axel Weber got into the prognostication game as well, as he predicted that “private currencies” would never really get off the ground due to the lack of a lender of last resort. Pointing to how central banks are able to manipulate fiat money during any currency crisis by serving as that lender of last resort, he contrasted that with the lack of such liquidity in cryptocurrency markets. Like Dimon, Weber also lauded the blockchain’s potential.

And then there’s the UK’s George Osborne. The Chancellor of the Exchequer continued to maintain his more optimistic outlook on digital currency in recent remarks at a London conference. Like Treasury’s Harriet Baldwin, Osborne noted that these currencies could very well have a vital role to play in the UK’s future. It is also worth noting that the United Kingdom was the recipient of more than forty percent of all FinTech investment in 2014, and officials like the Chancellor are consistently extending a welcoming hand to not only digital currency, but its underlying technology as well.

Time will tell, but it would seem that Dimon’s opinion about government reaction to digital currency is not currently shared by at least one government in the world.

In case You Missed Them…

Since we hate the thought of anyone missing out on thoughtful commentaries, a couple of recent articles from contributor Nick Marinoff deserve a mention. Earlier this week, he offered his thoughts on the importance of getting more women involved in the digital currency revolution in Why Women Must Become More Involved in Cryptocurrency. Later in the week, he advocated for introducing children to cryptocurrency at an early age in Children and Cryptocurrency: Why They Need to Learn Now. If you missed them the first time, be sure to give them a read.


Author: Ken Chase

Freelance writer whose interests include topics ranging from technology and finance to politics, fitness, and all things canine. Aspiring polymath, semi-professional skeptic, and passionate advocate for the judicious use of the Oxford comma.

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