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Cryptocurrencies are unregulated but government supports cryptocurrencies to help local startups both politically and financially. Bitt, a Barbados based digital payments platform, to boost regional trade. Last updated: March 8, 2018.

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Shyft Blockchain Network, Barbados’ Bitt Partner To Create Safe Data Ecosystem In The Caribbean

Shyft And Bitt Have Partnered To Create Safe Data Ecosystems In The Caribbean Region. Shyft has announced a partnership with Bitt to provide a secure data ecosystem for the Caribbean region. Shyft is a global network of information that provides a blockchain based ecosystem for secure and safe sharing of private data among consumers, institutions and government agencies. Bitt is a Barbados based company that enables P2P trades through its mobile money platform mMoney. As a result of the partnership, Bitt will become part of a safe ecosystem that utilizes Shyft technology to transfer data. Shyft’s network allows the financial establishment to act as trustworthy sources by executing verifications and sharing the information with customers. The two companies intend to leverage their strengths to reduce the charges associated with KYC and AML. With a safe environment for data transfer and the use of applications such as mMoney, Shyft and Bitt will propel Barbados to seamless transactions and efficient digitization of the economy. CSO of Shyft Network Fredrico Nassire expressed his confidence in the agreement stating that the companies enjoy strong synergy and as a result, are capable of propelling Barbados and other emerging markets in the Caribbean to boost economic growth. The goal is to create a secure and inclusive financial environment for citizens in Barbados and the Caribbean region. Simon Chantry, the co-founder and CBDO of Bitt says that as long as Bitt continues to create in-roads within the Caribbean, Shyft will deliver its services to clients that need it. According to him, the partnership comes handy with the deployment of mMoney, where institutions are looking to influence the wide KYC verification roles of mMoney together with Shyft’s secure KYC storage network. About Bitt Bitt is a fintech company that uses blockchain and distributed ledger technology to facilitate peer-to-peer transactions with seamless mobile money across Bitt software. The company operates a wallet that enables cash transfer over the internet, to pay for goods or services or directly to friends and families. Bitt is also the first company to launch a cryptocurrency exchange in the Caribbean, and supports the buying and selling of digital currencies. Their latest product, mMoney is a mobile money application that allows easy transfer and storage of money, and also allows clients to pay for products and access their money anywhere. Clients can pay registered mMoney merchants on the application. About Shyft Shyft operates a network that allows the secure transfer of trustworthy data across borders while protecting user privacy. The company uses strict verification methodologies to ensure that users understand the information they are sharing, who they are sharing it with, and how the information can be used. Shyft does not store personal data on the blockchain. Instead, it relies on “trust anchors”- third party institutions that have verified data. On the blockchain, the trust anchors confirm that the data has been submitted by a user, and attest to the validity of the data. Data owners hold private keys which allow them to grant access only at will. All transfers are done with the full consent and approval of the owners’ consent.
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Insurance Corporation of Barbados (ICBL) to Use Blockchain in Its Bitt Partnership

ICBL to Use Blockchain Technology in Its Partnership with Bitt ICBL (The Insurance Corporation of Barbados Ltd) on Wednesday, October 3rd, 2018 announced that it had entered into an agreement with Bitt. Bitt is a Carribean based digital payments firm. It will be responsible for deploying blockchain-based technology solutions that will be used by ICBL to boost inefficiencies on behalf of its consumers. Bitt and ICBL Partnership This new partnership is inclusive of improved client information automation, insurance claims issuance based on blockchain technology, and strengthened compliance monitoring. One of the components dealing with client information will touch on the new digital payment solution to be implemented by Bitt. The solution is to be integrated using its mobile wallet that is popularly known as mMoney. After its implementation, ICBL clients will now be in a position to complete payments using their smartphones. They will also have convenient access to their past payment histories. The Announcement When releasing the statement, Geoff Scott, the ICBL CEO and managing director said that they had sought input from their clients before arriving at this decision. In addition to seeking their input, they also paid increased attention to their needs as well as responses to past customer-focused inquiries. Geoff went on to state that their customers always expect convenience from ICBL at all times, more so when it comes to their interaction points. He said that clients are now requesting that the company releases a payment options menu that can be accessed from any location in the world. Another essential feature that comes with the mMoney application, and which attracted the ICBL team too it is the fact that it is capable of accepting regional digital assets. Once accepted, it can easily convert these assets into a common currency that can be used online, which is quite attractive for ICBL global clients. All the components of this agreement will be backed by a Financial Operations Management Panel, KYC (Know Your Client) Compliance Systems, and AML (Anti-money laundering) Compliance Systems. All these compliance systems are meant to make it possible for financial operators to monitor and track company activities. The Management system from Bitt has been designed to enable it to guarantee data integrity and maintain product data. Rawdon Adams, Bitt’s CEO stated that Bitt, at its core is a FinTech company. He went on to say that The Insurance Corporation of Barbados has chosen solutions from its suite of services and products that are capable of using ledger technology. This means that the selected products and services can efficiently be able to impact their day-to-day operations. Adams went on to say that this new agreement has presented Bitt with an opportunity to showcase its extensive range of capabilities. For its long list of clients, this will mainly comprise of behind the scenes, or back-end stuff. However, it is expected that these new capabilities will result in increased efficiencies for The Insurance Corporation of Barbados. In the long-run, they will help improve customer experiences, ensuring that all its clients get access to the products and services they need in a timely and efficient manner.
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Insurance Corporation of Barbados to utilize blockchain technology in partnership with Bitt

CryptoNinjas The Insurance Corporation of Barbados Ltd (ICBL) has announced an agreement with Caribbean blockchain payments company Bitt Digital Inc. (Bitt) to utilize blockchain technology solutions. ICBL will look to Bitt to help boost efficiencies on behalf of customers.... Insurance Corporation of Barbados to utilize blockchain technology in partnership with Bitt
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Grayscale Adds Stellar as Latest Cryptocurrency Investment Trust

Grayscale Adds Stellar as Latest Cryptocurrency Investment Trust Digital currency investment group Grayscale confirmed it had successfully launched its latest fund, dedicated to Stellar’s Lumens (XLM) token, in a tweet Jan. 17. Grayscale, which now operates nine cryptocurrency funds, timed the move to coincide with a change of image for its products, renaming all its […] Cet article Grayscale Adds Stellar as Latest Cryptocurrency Investment Trust est apparu en premier sur Bitcoin Central.
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Researches from MIT, Stanford Set to Replace Bitcoin with Their Groundbreaking Crypto Project

CoinSpeaker Researches from MIT, Stanford Set to Replace Bitcoin with Their Groundbreaking Crypto Project Until now, everybody has been talking about Bitcoin, the most popular and widely used digital currency. However, Bitcoin is unable to process thousands of transactions a second. Researchers from the Massachusetts Institute of Technology (MIT), UC-Berkeley, Stanford University, Carnegie Mellon University, University of Southern California, and the University of Washington have decided to fix such a weakness and develop a crypto asset better than Bitcoin. The researchers are working together as Distributed Technology Research (DTR), a non-profit organization based in Switzerland and backed by hedge fund Pantera Capital. The first initiative of Distributed Technology Research is the Unit-e, a virtual coin that is expected to solve bitcoin’s scalability issues while holding true to a decentralized model and process transactions faster than even Visa or Mastercard. Babak Dastmaltschi, Chairman of the DTR Foundation Council, said: “The blockchain and digital currency markets are at an interesting crossroads, reminiscent of the inflection points reached when industries such as telecom and the internet were coming of age. These are transformative times. We are nearing the point where every person in the world is connected together. Advancements in distributed technologies will enable open networks, avoiding the need for centralized authorities. DTR was formed with the goal of enabling and supporting this revolution, and it is in this vein that we unveil Unit-e.” According to the press release, Unit-e will be able to process 10,000 transactions per second. That’s worlds away from the current average of between 3.3 and 7 transactions per second for Bitcoin and 10 to 30 transactions for Ethereum. Joey Krug, a member of the DTR Foundation Council and Co-Chief Investment Officer at Pantera Capital, believes that a lack of scalability is holding back cryptocurrency mass adoption. He said: “We are on the cusp of something where if this doesn’t scale relatively soon, it may be relegated to ideas that were nice but didn’t work in practice: more like 3D printing than the internet.” The project’s ideology is firmly rooted in transparency, with a belief in open-source, decentralized software developed in the public interest with inclusive decision-making. The core team of the project is based in Berlin. To solve the scalability problem, DTR has decided to develop the Unit-e with parameters very close to Bitcoin’s design, but many things will be improved. Gulia Fanti, DTR lead researcher and Assistant Professor of Electrical and Computer Engineering at Carnegie Mellon University, commented: “In the 10 years since Bitcoin first emerged, blockchains have developed from a novel idea to a field of academic research. Our approach is to first understand fundamental limits on blockchain performance, then to develop solutions that operate as close to these limits as possible, with results that are provable within a rigorous theoretical framework.” The launch of the Unit-e is planned for the second half of 2019. Researches from MIT, Stanford Set to Replace Bitcoin with Their Groundbreaking Crypto Project

BitPay CEO Says Bitcoin Is Solving Real Problems Around the World

BitPay co-founder and CEO, Stephen Pair, has recently commented that Bitcoin (BTC) is solving several issues around the world. He said that in a press release uploaded a […] The post BitPay CEO Says Bitcoin Is Solving Real Problems Around the World appeared first on UseTheBitcoin.
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Trillion Dollar Market Cap, Ethereum Chain Splits & Stellar Lumens Fund - Crypto News

In this video, Mattie gives you the latest bitcoin and crypto news. He talks about the ethereum chain splitting, BitGo CEO Says Institutional Money in Crypto Can ‘Easily’ Reach Trillions of Dollars, and a new Stellar Lumens fund. This is a daily segment! ----------------------------------------------------------------------------------- CHECK OUT OUR PODCAST: New episode every Monday and Friday! ----------------------------------------------------------------------------------- Check out Altcoin Buzz Ladies! ---------------------------------------------------------------------------------- Connect with us on Social Media: Twitter: Facebook: Telegram: ---------------------------------------------------------------------------------- Looking for the best cryptocurrency wallets? Check these out: BitLox: CoolWallet S: Trezor: Ledger Nano S: KeepKey: Read about them here: --------------------------------------------------------------------------------- References: Leading Crypto Asset Manager Grayscale Launches Stellar Lumens Trust Crypto Investment Firm Grayscale Launches Fund Dedicated to Stellar Lumens (XLM) Grayscale Tweet Grayscale BitGo CEO Says Institutional Money in Crypto Can ‘Easily’ Reach Trillions of Dollars As Company Launches Cold Storage Trading Crypto’s Billion-Dollar Theft Problem Prompts Safer Way to Trade Ethereum Chain Splits, An Estimated 10% of Miners Stay on Constantinople Ethereum Upgrade – Constantinople Hard Fork Delayed VanEck to Nasdaq: Bitcoin Market Structure Expected to Improve in 2019 Nasdaq Tweet -------------------------------------------------------------------------------- DISCLAIMER The information discussed on the Altcoin Buzz YouTube, Altcoin Buzz Ladies YouTube, Altcoin Buzz Podcast or other social media channels including but not limited to Twitter, Telegram chats, Instagram, facebook, website etc is not financial advice. This information is for educational, informational and entertainment purposes only. Any information and advice or investment strategies are thoughts and opinions only, relevant to accepted levels of risk tolerance of the writer, reviewer or narrator and their risk tolerance maybe different than yours. We are not responsible for your losses. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence and consult the financial advisor before acting on any information provided. Copyright Altcoin Buzz Pte Ltd. All rights reserved.
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