Tag Archives: bitcoin

bitcoin

Will Block Chain Companies Undertake a $770 Billion Industry?

Remittances are a hot industry to focus on for companies and startups in the block chain tech and finTech sectors.

Previously in 2013, a press release published by the World Bank stated that global remittances represented a $550 billion dollars industry, with India and China receiving $131 billion (see graph below).

migration_brief_21_infographic

The same article stated that by year 2016 we could expect a record number in remittances, registering a flow of $707 billion.

This year (2015), the Goldman Sach’s Investment Research Report part III – “The Socialization of Finance” featured that:

– According to the World Bank, there is an estimated roughly $550bn sent internationally in 2014. We estimate the fees generated by banks and other money transfer platforms to be roughly $30bn, or roughly 6% of the total principal amount. –

We expect block chain companies to be able to offer lower fees and faster transfer with solutions that are easily accessible to everybody. These must not rely entirely on having a smart phone or fast internet connectivity since that equals (in most cases) to a relatively high entry cost for many people in the developing countries.

Max Garcia
CryptorTrust

Sources:
World Bank
The Future of Finance Report

 

BLOCKCHAIN KILLER APPS – BIG BANG OF DISRUPTION PART 2

Blockchain Killer Apps continues to take it to the next level. Wall Street take note, most of what you do is on the list. Video Part 2.

Courtesy World Bitcoin Network

An overview of the already launched / under development Blockchain killer apps out there originally planned as 2 videos but expanded to 3 videos to cover it all.

This is the second video where we focus on re-thinking the blockchain, and understanding why this technology can prove to be revolutionary for how humanity records, remembers and keeps track of itself. Indeed by providing an immutable and transparent database, open to anyone, blockchain technology is destined to disrupt deeds, journalism, scientific publications, patents, artistic rights, and history itself. This is much more than a public ledger or proof of publication, this is a global shared history.

To understand these concepts,  you are taken you on a tour of the blockchain.

Geir Solem

Cryptor Trust Inc.

Bitcoin Security – Multi Signature Wallets part 2

Part 2,  Spend from Multisig Wallets – Generate Bitcoin payment

This is part two of our series on multi signature addresses and wallets. This is important technology for massively improving bitcoin security. In part one we generated a multisig address / wallet. In this part, we’ll walk you through all the steps necessary to spend the funds.

Courtesy World Bitcoin Network

In many ways, multisig addresses are the answer to most of bitcoin’s concerns and fears of theft. And now its time to scale up massive implementation for them. Originally introduced into the bitcoin client a few years ago, multi signature addresses are massively more secure than regular ones. Their adoption by all wallet manufacturers are in progress.

Geir Solem
Cryptor Trust Inc.

Bitcoin Security – Multi Signature Wallets

Part 1, Generating a Multisig Address – What are Multisig Wallets

Bitcoin is now in that ‘second phase’ where security is becoming very important. Originally introduced into the bitcoin client a few years ago, multisignature addresses are massively more secure than regular ones.

Courtesy World Bitcoin Network

Their adoption by all wallet manufacturers is coming.

In many ways, multisig addresses are the answer to most of bitcoin’s concerns and fears of theft. And now its time to implement them.

Nest part 2, Spend from Multisig Wallets

Geir Solem
Cryptor Trust Inc.

Bitcoin Offers Banking to the Unbanked Billions

Could it’s Protocol Replace all of Wall Street ?

Source, World Bitcoin Network

This is the ninth video in our series called “Bitcoin as a Disruptor”.  What are the future implications of Bitcoin around the World ? This episode highlights bitcoin’s ability to provide full banking services for over half the world’s population, the unbanked billions.

Finance, accounting and distribution would become infinitely easier…..and adding 3.5 billion people into the world’s economy could bring benefits no one can foresee. 

Few realize how many unbanked there are even in the developed world. Can cutting edge technology, like bitcoin provide the ultimate solution?

Geir Solem
Cryptor Trust Inc.