Digital currencies such as
are issued and usually controlled by its developers, and are used by members of virtual communities. The sector's market capitalisation has surged more than 60% so far this year, and nearly 260% over the past 12 months, to nearly $30 billion, according to Coinmarket.
The interior of
mining company Bitfury's mining farm in Iceland..
offers a more efficient method of sending money abroad, says Bitwala..
Blockchain, which first emerged as the technology powering cryptocurrency
, is seen by financial institution as a powerful new tool to increase transparency and reduce the costs and complexity of a wide range of financial transactions..
IaaS security threats come from both inside and outside the organisation. Hackers target corporate IaaS accounts to steal data or computing resources.
The controversial New Zealand-based Internet mogul plans to introduce a
payments system for users to sell files and video streaming..
The report states that something as small as a cellphone number can be used to commit extensive amounts of fraud. Last year, Forbes reported a case where millions of dollars in
was stolen by hackers only using someone's phone number.
has progressed from being only a nerd's version of gold years ago..
The attack doesn't stop there. In their attempt to capitalise on the attack, a
miner is installed, to take advantage of every compromised computer.
Blockchain is seen as the main technological innovation of
, since it stands as proof of all the transactions on the network. There are different Blockchain configurations that use different consensus mechanisms, depending on the type and size of the network and the use case of a particular company.
The well-known cryptocurrency
Bitcoin was the first digital currency. The underlying technology that enables this currency is called blockchain.
The Blockchain Academy has partnered with the Satoshi Centre to help drive education on
Bitcoin and blockchain on the 1st and 2nd May 2017 in Botswana..
"In SA we have seen the rise of mobile QR code app-based payment services, such as SnapScan, which has over 25 000 vendors locally, rolling out across formerly cash-based and informal trading environments, such as flea-markets and concerts," adds Williams. "We have also seen how quickly, thanks to our almost complete mobile penetration, blockchain technology, such as
has taken off in SA across all strata of our economy.
Bitcoin has been plagued by a volatile market value, reports of hacking, and its utilisation in the notorious "dark Web", says Webber Wentzel..
Blockchain, which emerged as the system running cryptocurrency
, is a digital shared record of transactions that is maintained by a network of computers on the Internet, without the need for a centralised authority..
Blockchain is a digitally distributed ledger that underpins all
Bitcoin transactions. It offers all parties involved in a business transaction a secure, synchronised record of every sequence in an exchange, beginning to end: from hundreds or thousands of steps online to a single one-for-one payment.
The SEC denies a request to list what would have been the first US exchange-traded fund built to track
The topic of cryptocurrencies, and
Bitcoin more specifically, tends to stir up diverse opinions. Some feel that the emergence of these currencies with no central control and no respect for national boundaries poses a real threat to the security of nations, while others feel that Bitcoin represents the future of global banking.
"Sophisticated payment methods like
Bitcoin are inappropriate for the mass market. Instead we need to look at simple methods like cash, credit or debit card, preloaded social welfare card or enabling multi-functional facilities like the Myciti bus card," says Kevin Tucker, MD of Pricecheck.
Investors bet market regulators will approve what would be the first US exchange-traded fund to track the price of