Recently edChain, one of the first distributed networks for education, switched from ethereum to Stellar for payments on its content distribution platform. Ethereum, the most popular blockchain for payments, with thousands upon thousands of transactions occurring per day, has run into problems, due to its popularity, particularly high cost, which is the prime reason edChain made the switch.

As large banks embrace FinTech start-ups and their advanced technology rather than compete against them, both parties aim to eliminate the “middle man” in financial services transactions. This “middle man” is a metaphor for the different steps of customer interaction that technology has removed to make banking more efficient. However, in the hyper-speed environment from which bank - start-up integrations emerge, a new middle man - between these parties has become necessary.

Blockchain: the single most confusing term since Bitcoin. Everyone has a vague idea of what it does. It’s either the ultimate evolution of financial technologies, or a silly fad that can be summed up in the disconcerting phrase: “dogechain.” In reality, major companies around the world have already shown favor to the burgeoning money exchange system and it may become harder and harder to stay away from the financial dark art.
In reality, it is all relatively easy to understand. The Blockchain is a public ledger where transactions are recorded and confirmed anonymously. It’s a record of events that is shared between many parties. More importantly, once information is entered, it cannot be altered. So, if the blockchain is the public record, what is being recorded? What are all of these “transactions”?

De Beers, the world’s biggest diamond producer, has tracked its first diamonds all the way from the mine to the jewelry producer using blockchain, the technology behind Bitcoin. It is even planning to launch a platform for other diamond retailers later this year which uses blockchain to track a diamond through the entire value chain.  Known as Tracr, the program gives each stone a unique ID that stores diamond characteristics such as weight, color and clarity.

With increased interest in cryptocurrencies like Bitcoin and Ethereum, there is also increasing interest in the underlying technology, i.e. blockchain. While Financial Technology (FinTech) companies were the first ones to notice the potential of blockchain outside of cryptocurrencies, now more and more businesses are exploring the technology. For e.g.

Throughout the history of cryptocurrencies, there have been several instances of cryptocurrency exchange hacks.  Perhaps you may have even heard of some, such as the infamous Mt. Gox (which is actually an acronym for Magic: The Gathering Online eXchange). We intend to take a look at some of the prominent incidents, identify common patterns, and offer best practices for cryptocurrency traders.

The SEC and Goldman Sachs have recently tackled the over-and often misleading-usage of the word “blockchain.”  To remedy this perhaps, companies are banning the use of the word “blockchain,” instead using the term “Digital Ledger Technology,” or,  DLT for short?

*Exclusive interview from Peter Shiau, CEO and CoFounder of Blockstack.io 

As you might have heard, we have just recently found our way into the Silicon Valley of India, a.k.a. Bangalore! Following our first foray into India this month, we thought there was no better time to touch upon the hottest topics in the realm of FinTech in the country.