Day: August 16, 2018

Coinbase to Pursue Decentralized Form of Identification Following Acquisition

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Cryptocurrency exchange and wallet service Coinbase has acquired San Francisco-based startup Distributed Systems Inc., which works on decentralized identity solutions, according to an August 15 announcement. In the blog post, B Byrne, project manager for Identity at Coinbase, said Distributed Systems will help the exchange work on new ways to validate and verify identity within its plans to develop an open financial system. The blog post says: “Blockchain technology that powers cryptocurrencies offers a new way to let us all be “verified” everywhere we go on the internet, feeling safer about…

Ripple Considering Chinese Market to Speed Up Payment Solutions

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Ripple is considering breaking into the Chinese market to apply its distributed ledger technology (DLT) to cross-border payments, a Ripple executive told CNBC August 15. Jeremy Light, vice president of European Union strategic accounts at Ripple, said in a phone interview that the company is looking to enter the Chinese market to speed up international payments with its DLT. Light said that “China is definitely a country and region of interest.” While blockchain is the technology that underpins cryptocurrencies, Ripple’s blockchain was initially designed to accelerate payments processing, which subsequently…

Coinbase Signed Up 50,000 Users per Day in 2017

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Cryptocurrency exchange Coinbase CEO Brian Armstrong said in an August 14 interview with Bloomberg that it was signing up 50,000 users per day in 2017. Speaking at the Bloomberg Players Technology Summit in San Francisco on Tuesday, Armstrong said that the “technology [Bitcoin] is going through a series of bubbles and corrections, and each time it does that, it’s at a new plateau.” He added that “people’s expectations are all over the map, but real-world adoption has been going up,” stating that he sees “real world adoption pretty steadily increasing…