Currency & Virtual Coin
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The U.S. is applying money-laundering rules to "virtual currencies," amid growing concern that new forms of cash bought on the Internet are being used to fund illicit activities.
By canercandan, Wednesday, June 20 2012.
Banks are not typically known for flexibility or custom services, but a new open source effort aims to change all that. Specifically, the Open Bank Project provides an open, developer friendly “API for banks” that enables the creation of new applications and services.
$ l'argent c'est quoi ? $
Does an Internet-only currency — not backed by any government entity — have a chance to become the way merchants and consumers transact business?
Bitcoin , a heavily underground peer-to-peer payment solution, is starting to peek its head above ground. Today, a payment solutions company called BitPay has announced $510K in investment, led by Shakil Khan, Barry Silbert, Jimmy Furland and Roger Ver. Put simply, BitPay feels like it is positioned to become the equivalent to PayPal for the virtual currency payment processor rival, Bitcoin.
This piece was recently sent to me by “an old radical.”
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We’re happy to have Stan Stalnaker as one of the speakers at our upcoming PSFK CONFERENCE LONDON 2012 . Stan is the Founding Director of social network Hub Culture , a social network service that operates on the digital currency Ven. On September 13 he plans to share with us how digital currencies are the future of money.
Ven is a global digital currency used by members of Hub Culture to buy, share and trade knowledge, goods and services. It can be spent at any Hub Culture Pavilion and exchanged digitally to anyone with an email address via the HubCulture.com platform. An API for everyone at VenMoney.net allows Ven to be exchanged anywhere, for everything.
The United States has the dollar, Mexico has the peso, and Great Britain has the pound. Within their individual borders, having a single currency provides a streamlined, unified system for appropriating value in an exchange. But when traveling outside national borders, currency can become confusing–what was ‘worth’ one amount in one country takes on new value in another; the physical bill or coin is literally worth nothing as it can’t be readily exchanged in the visiting country for goods, and its assigned value changes based on fluctuating exchange rates.