Blockchains and Bagels: the morning market update to get you ready for the day ahead. Today, Massachusetts Institute of Technology's Digital Currency Initiative explores smart contract and lightning network integration. Argentinian bank explores digital assets for international transfers.
The Digital Currency Initiative, a research community at MIT, has begun demoing a lightning network node with smart contract integration. The team has developed a model to execute transactions given a triggering event handled by the smart contract.
The bank is looking to lower transaction costs with foreign remittance through Bitcoin transfers. The service is targeting transfers between 50 countries without the use of the SWIFT network. Bypassing the intermediary banks on the SWIFT network reduces the time for a transfer and total transaction costs. The customer will have no exposure to an underlying digital currency.
The Ontario Securities Commission has issued a warning for investors over five unregistered ICOs. The press release cautions against any involvement with BTCReal, BitSerial, Hypercube Ventures LP, CabinCoin and BaapPay.
Joe Davis, Vanguard’s Global Head of Investment Strategy, published a blog post contesting Bitcoin’s use as a currency. He views the volatility of the digital currency as a hurdle for adoption. Moreover, he sees a central bank backed digital currency as a strong competitor to existing offerings. In the long-run, Davis believes blockchains will be adopted by governments and enterprises leaving existing digital assets obsolete.
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