Blockstream Launches Crypto Tipping App

Blockstream has announced the release of Nanotip, which is designed to test Blockstream implementation of the Lightning Network
27 March 2018   189

Blockstream is the provider of blockchain technologies working mainly in cryptography and distributed systems. From fraud to counterfeiting, from security to confidentiality, from accountability to transparency, it has a mission to solve problems that undermine trust in today's financial systems.

Blockstream has stated that Lightning Network offers new possibilities for Bitcoin as it relies on unique payment requests, stepping away from the static addresses that create privacy implications when tipping on Bitcoin.

Blockstream lightning nanotipBlockstream Lightning Tip Box

On March 24 Blockstream has announced a solution for this problem with Nanotip, which is designed to test Blockstream implementation of the Lightning Network.

The nanotip LApp solves Lightning’s payment-request problem for tipping by creating a simple web server that writes Lightning payment requests on the fly. It gives each content provider their own tip-bot, but does it in a way that keeps those creators in total control, while giving them stronger privacy than a classic Bitcoin tipjar. Meanwhile, patrons of a creator or service can choose exactly who and how much they want to tip and will receive a Lightning invoice to do so with lightning speed.

Blockstream announcement

Moreover, on March 26, Blockstream has released Nanopos, a system for businesses with fixed-price items like, for instance, coffee shops. It work like that: the buyers choose their items and receive a QR code, which they can use to make a payment to the vendor’s Lightning Charge server.

Blockstream believes that Lightning Network can become the mechanism for everyday commerce, and will work on developing and improving the services.

Myth of Total Illegal Bitcoin Use rejected by Scientist

Quebec Chief Scientist (Canada), Rémi Quirion, has issued a rejection for the “myth” that illegal transactions are among those for which BTC is basically used
25 April 2018   64

Chief Scientist is closely connected with the Fonds de recherche du Québec (FRQ) – a publicly funded establishment founded for “providing support for the production and dissemination of knowledge.” Mr. Quirion states that Bitcoin is often accused of being a good tool for crime or money laundering, adding that “Even Christine Lagarde, president of the International Monetary Fund (IMF) recently called for more regulation of cryptocurrencies to counter illegal activities.”

Quebec’s Chief Scientist insists on bitcoin offers its customers “pseudonymity,” rather than total anonymity, which detracts from its potential illicit usage. Mr. Quirion cited Jonathan Hamel, who has denied that the public nature of bitcoin’s blockchain diverts from its anonymity.

Every transaction is transparent and public. They are indeed recorded in a kind of ledger whose copies are distributed among thousands of computers.
Jonathan Hamel, Cryptocurrency Analyst, Associate Researcher, Montreal Economic Institute

Erwan Joncheres, Cryptocurrency analyst, is also mentioned in the document.  He has also denied statements that bitcoin and money laundering go alongside.

I think that tax evasion and money laundering are anecdotal on cryptocurrency networks. Since bitcoin is transparent, it will be very easy to identify all the people trading on an online exchange or portfolio platform.
Erwan Joncheres, Cryptocurrency Analyst

The document underlines the research conducted by the Center for Sanctions and Illicit Finance of the Defense of Democracies Foundation that, after analyzing bitcoin transactions made between 2013 and 2016, revealed that only 0.61% of trading transactions in the period were associated with illegal activities. The Chief Scientist refers center’s findings that illegitimate transactions within the bitcoin economy are extremely centralized, further undermining the offer that illicit activities pervade the bitcoin economy. Said research indicated that less than 10% of anonymous free markets were responsible for 95% of illegal transactions towards bitcoin between 2013 and 2016.