| | NOVEMBER 22nd, 2016
"The growth of knowledge depends entirely upon disagreement."
– Karl Popper
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In an interview with CoinDesk, MoneyGram’s Peter Ohser reiterates his skepticism that bitcoin will disrupt remittances.
Current money transfer providers have little incentive to switch to the digital currency, he explains, especially since its deregulated status could jeopardize business relationships with banks. And remittance receivers don't see a lot of opportunity in moving away from cash, he argues.
MoneyGram does see a potentially positive impact of blockchain technology on back-end processes in finance, however, including the current correspondent banking model. But for now it has no plans to adopt the technology, preferring a “wait and see” strategy. (Read the full story.)
We are excited to announce the launch of a new event series: monthly fireside chats with leaders and innovators from the cryptocurrency and blockchain sectors, at our headquarters in New York.
The series kicks off tonight, November 22nd at 6:30pm with a conversation between CoinDesk's Pete Rizzo, bitcoin pioneer Charlie Shrem and digital currency lawyer Marco Santori. Get your tickets on Eventbrite.
Wait, there's more:
· Consortium funding. Most consortium bank members are expected to participate in R3’s $150m funding round, according to a source close to the deal. The deal is moving ahead as two consortium members, Santander and Goldman Sachs, have called it quits. Read more.
· Housekeeping. A Congressional committee has urged the Commodity Futures Trading Commission to focus on digital currency regulation before Trump takes office. While avoiding controversial decisions, it could provide additional clarity on digital currencies. Read more.
· Decentralized energy. Blockchain startup LO3 has partnered with Siemens to work on ethereum-powered microgrids that enable participants to sell excess electricity to other stakeholders. Read more.
· Another exit. Following Goldman Sach’s confirmation that it has left the R3CEV blockchain consortium, Santander Bank has also announced its decision to depart. It has not yet specified its reasons. Read more.
· Bitcoin accounting. The Australian Accounting Standards Board has published a position paper urging more definition on the accounting standards for digital currencies. The issue will be further discussed at the December meeting of the International Accounting Standards Board. Read more.
· Let’s talk. The German central bank is hosting a blockchain conference this week, with regulators, startups and academics in attendance. The technology, its future role and the regulation of blockchain implementations are on the agenda. Read more.
BTC: $747.39 +1.7%
ETH: $9.83 +2.4% at 10:00am EST more details
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