7/21/14 – Blockchain’s educational wallet, Paybits bitcoin paychecks, & DC’s “Digital Chamber”

By July 22, 2014Bitcoin Business
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7/21/14 - Blockchain's educational wallet, Paybits bitcoin paychecks, & DC's


Popular bitcoin wallet Blockchain has released a new version of its Android app that makes the use of bitcoin even easier. The new app version allows users to store, send, and receive bitcoins directly from their phone, all without having to deal with long complex bitcoin addresses. It also includes educational features, such as tutorial videos, security and backup suggestions. And it even comes with a world map view in the app that shows merchants who accept bitcoin. As CEO Nicolas Cary says, "When you explain why bitcoin is valuable, 99 percent of people understand that it's useful. But it gets a little intimidating when they actually start using bitcoin... Our Android app has to do with making bitcoin so easy to use that people don't even have to think about [it]."

Copay, the new bitcoin wallet app from leading Bitcoin solutions provider BitPay, has released its Android version on the Google Play Store. The new open source wallet allows users to require co-signers in order for bitcoin holdings to be spent or transferred. That way, according to the app's description, "If your computer is compromised and your private keys are stolen, the bitcoins are still safe." The app is now available for free download on Android devices.

Nevada-based Paybits announced the launch of a new payroll service, due out in beta in August, that they claim is the first to allow a company's employees to convert a portion of their net pay directly into bitcoin for each pay period. The service will cost a flat rate fee of $5 per month, with zero added transaction fees. As Paybits founder Scott Nichols puts it, "Bitcoin should be as easy to get as your paycheck... Enabling individuals to be paid in bitcoin is another step in extending the bitcoin ecosystem into our economy."

Bankcoin Reserve announced Friday that cryptocurrency exchanges are now able to peg Bankcoin to the stock market's 1oz gold price starting in August, in order to address the issues with volatility common with Bitcoin and other digital currencies. The hope is that Bankcoin will provide a more stable store of value for banks and financial institutions, while still using Bitcoin as the medium of exchange, which will then help increase mainstream adoption of Bitcoin.

The Chamber of Digital Commerce, the first trade association for the digital currency and digital asset industries, opened its doors in Washington DC on Saturday. The new "Digital Chamber" will serve as the authoritative source for legislators, regulators, policy makers, and the general public to obtain accurate information about digital assets and currencies, in order to facilitate the adoption of responsible, prudent legislation and regulation, which will help support the vitality of the industry. As founder and CEO Perianne Boring says, "Digital currencies and assets, such as Bitcoin... will soon be as important as email, Web browsing, and e-commerce. We are here to educate policymakers and consumers about how this new technology and asset class will improve the economy and access to financial services."

Bitcoin businesses, lawyers and government officials in Australia gathered for an awareness-raising seminar in the capital Canberra, organized by the Australian Digital Currency Commerce Association (or ADCCA). In the seminar, the ADCCA expressed the growing need for greater clarity around Bitcoin regulations for both businesses and consumers, and proposed a solution that the industry self-regulate, with the assistance of a government liaison. As the ADCCA's chairman delegate Ronald Tucker puts its, "This is a truly accessible global marketplace that's developing here. The best thing to do is to work with other industry bodies around the world to help inform and educate and make sure we're doing things in everybody's best interests."

BitPay also announced today that they have partnered with the Georgia Institute of Technology's Athletic Association to help bring more Bitcoin awareness to the college landscape, particularly BitPay's target audience of young tech-savvy males. With this new partnership, the BitPay and Bitcoin logos will now be on display for Georgia Tech's football and basketball games in the Bobby Dodd Stadium and the McCamish Pavilion through the 2014/2015 school year.


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