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PayPal’s John Rainey on Bitcoin’s Popularity

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According to a recent interview with The Wall Street Journal, PayPal’s chief financial officer, John Rainey, spoke very highly of Bitcoin, and he is very sure that Bitcoin will end up being very popular in the future.

John Rainey From PayPal Praises Bitcoin

In a section of the interview called, “Тhe crypto factor,” Rainey stated that PayPal was one of the first companies to include Bitcoin on their Braintree platform back in 2015.

Rainey said:

“Given the volatility of bitcoin right now, it’s not a reliable currency for transactions because if you’re a merchant and you have a 10% profit margin, and you accept bitcoin, and the very next day bitcoin drops 15%, you are now underwater on that transaction.”

When asked about Bitcoin’s popularity in the future he told the WSJ that there is “a very high likelihood” of that happening:

“The technology, there is real merit to it. I do think, though, it will be years down the road before we see the kind of ubiquity and acceptance that make it a form of currency that is used every day.”

Just like many others, co-founder of PayPal Max Levchin stated back in December that while he believes Blockchain technology is revolutionary, he hasn’t “figure[d] out” where he stands on Bitcoin’s future just yet.

The crypto wallet and exchange platform Coinbase, recently welcomed former PayPal executive David Marcus to its team last December.

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Jason Kelley on the Future of Blockchain

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Bobsguide recently sat down with Jason Kelley, the Head of IBM’s Global Blockchain Services, at London Blockchain Week in January 2018.

In this interview Mr. Kelley shares his opinions on ICO hype, how Blockchain tech will be introduced to the enterprise market and more.

Jason Kelley Interview

IBM is well known as an established player so we are a little surprised to find you here at London Blockchain Week, which feels more like an event for start-ups.

Sure, way back when we were the big IBM. Fast forward to what is now a cloud-based platform company almost drawing on half our revenue, according to our recent earnings for Q4 2017, we’ve gone through a full transformation with a profitable quarter. We’re driving a lot of our business around these faster moving capabilities, things that run on the platform. This is a justification, this isn’t just “watch me doing the dance” – we’re a different IBM just because we’re moving in a different way.

I wouldn’t be here if we weren’t. This is where everything is moving quickly, this is where we get ideas, make relationships and build out the ecosystem moving forward. That’s the ecosystem we’re trying to build, the infrastructure that the little guys here can build upon. For that to work, we need a reliable, scalable platform.

So when they say “I’m ready to do blockchain for enterprise” then that’s where the ecosystem partners with us to deliver not just the large end-to-end applications, but also those microprocesses; behind each supply chain are smaller processes that need integrating and executing. This is the enablement of an ecosystem, a network of networks.

That network of networks requires a lot of work to stitch those pieces together. The ecosystem play is huge. There’s this tree effect where the whole ecosystem of peripherals and everything else now spawns into new business models. You set the stage and then it will have to build out with that ecosystem.

Would you say you’ve changed your approach to reflect changing times?

We’re trying to identify the trailblazers and I’m trying to make sure that we continue to be a convener of opportunity. I’m a custodian of capability, I’m a custodian of end-to-end services. When people ask me who our competitors are I explain that we don’t have one. We are currently in a unique position where we have a platform cloud-based company. That consists of the infrastructure that provides the blockchain capability, IoT, advanced analytics, the cognitive Watson capability; we have global end-to-end services as well as shared services.

You think of old-school shared services, that’s the backend; who’s going to run that when you get to the run stage, who’s going to go ahead and run those different networks? Who’s going to manage that? Well, we do that already. Does that mean that we want to be everything to everybody? No, but I think you have to have that end-to-end capability to get many of the large players started and to create the platform to facilitate start-ups.

Often, companies will come to us and say: “I see this great opportunity for a consortium but I can’t get all ten of the players to play together”. That’s what IBM does and why I’m spending the next 48 hours meeting with clients in a consortium because we’re experienced at herding players. When we facilitate new consortia, we sit the players down and they look at us with wide eyes as I tell them the first five things that are going to stop.

We’re the convener of opportunity. I’m not going to say that’s always going to be our position but right now that’s our position. The quicker, better and faster that we do this, in what is inherently a team sports industry, is going to massively help us and others.

The fact that we’re running in an ecosystem and playing with ex-competitors, such as is the case with DTCC, where we are working with Axoni and R3, and that we’ve just struck a JV deal with Maersk (not yet regulatory approved) in a super-fast time of eight months, that shows we’re a different IBM. We’re running the way the market and our clients are asking us to run. And right now it’s really working well, but we need to move faster in the market, to stand us up in order to get past the hype.

To read more about this interview click here.

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Coinbase and Btfinex SegWit Upgrade

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Coinbase and Bitfinex, both very known crytocurrency exchange platforms, have recently announced that they are now ready to go for the SegWit scalability upgrade for Bitcoin.

Caoinbase had previously announced the upgrade back in December.

SegWit Upgrade

SegWit

The upgrade will enable transactions to be faster and with less fees when made in Bitcoin.

Paolo Ardoino said:

“SegWit provides not only an immediate benefit for users, but also a foundation for future Bitcoin development. By supporting SegWit addresses, Bitfinex is tackling three of the biggest crypto-enthusiast concerns: transaction fees, transaction speed, and total network capacity. We are delighted that through this implementation we can provide our customers with bitcoin withdrawal fees that are up to 20 percent lower, as well as faster-than-ever transaction speeds.”

The latest Bitcoin Core client version 0.16.0 has also been released for public editing on February 15 and it includes the full new upgrade.

A Cointelegraph contributor named Joseph Young shared his thoughts on Coinbase’s latest SegWit announcement saying that it is “good stuff!” and showing its significance for the overall adoption on the Bitcoin community.

 

 

 

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FUSION: Blockchain Cryptofinancial Platform

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The TechBullion recently sat down with FUSION’s CEO Dejun Qian, who runs a Blockchain powered Cryptofinancial Platform For Cross-chain, Cross-organization, and Cross-datasource Smart contracts. In this interview he shows some of the things that FUSION will be able to provide.

Interview

1) Hi, could you tell us about yourself and about FUSION?

I’m DJ Qian. I Entered cryptocurrency and the blockchain industry four and half years ago by establishing a company, named BitSE. Many friends might know that we created and incubated QTUM and VeChain and made them independent foundation after we kicked off a crowd sale for both of these two projects.

My journey in cryptocurrency and blockchain kept me thinking how blockchain technology could serve finance industry.

FUSION, by combining a variety of financial values and using blockchain technology, provides a brand new way of doing finance.

By using distributed nodes to control private keys to map various tokens on a public chain, FUSION enables smart contracts that can program multiple blockchains’ tokens.

What’s more, FUSION enhances smart contract by allowing them off-chain data and facilitating automatic triggering mechanism to enable complete financial functions on a public chain.

2) FUSION is relatively new in the industry, what stands your brand out?

Before FUSION was created, there was no such public chain that can connect all other blockchains, off-chain data sources and provide complete financial functionalities.

Other cross-chain solution attempts do not support of-chain trigger events, are not automatic and not ‘smart’ enough.

We believe there is a very strong demand for such abilities. That’s why we started thinking about how to build an infrastructure to support them.

Based on our previous experience, we developed a series of very unique technologies such as “Decentralized Private Key Control and Management technology, which realizes distributed control of assets; Multiple Triggering Mechanism to realize off-chain datasource inputs; and the Hierarchical Hybrid Consensus Mechanism to support parallel computation of smart contracts.

Meanwhile, we have a team of financial experts amongst our selected supporters and advisors to help FUSION cooperate with existing financial institutions.

3) As a CEO, what machineries have you put in place to ensure that you maintain your goal of helping the blockchain communities help each other and create wealth?

1)   The FUSION’s vision is to open an exciting new Era of Cryptofinance for the Internet of Values.

2)   The Foundation regards the community as the core resource to realize it’s vision and will use a Matrix Community Plan to cover all functions and geographies of the community. (Technology, Graphic Design, Financial Application, Alliance etc,  as well as different regions)

3)   A board of directors will be composed of selected supporters, advisors, and volunteers to lead the strategy development, technology council, community development, budget arrangement, etc.

4) A group of 3-4 dedicated financial and blockchain background experts will take the lead to talk to existing financial institutions to help them embrace FUSION.

4) Please tell us why your ICO has been successful?

First of all, were fortunate to have a very committed and talented team.

Second, we are really addressing an area of strong demand, which has not been served before. We found the community shares this same vision with us.

Third, we have commit resources and strong supporters in various areas and industries, which is a strong proof that the project is moving ahead on the right direction.

And fourth, We creatively innovated the mechanism behind the crowd sale itself, our Voluntary Participants Sale, which used only 323 lines of codes and helped participants from more than 100 countries join the token sale smoothly, fairly and inclusively.

Source: https://www.techbullion.com/

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