BTC Isn't a Thread for Banks, Global Blockchain COO Says

Shidan Gouran believes that banks even are almost encouraging the use Bitcoin
30 March 2018   522

Shidan Goran, President and COO of Global Blockchain, the investment company that bought all the Kodak Coin tokens during the presale, said that large banks are not competitors of payment services like Ripple and Bitcoin. On the contrary, banks closely monitor the development of these technologies.

If big banks were to succeed in crushing one of these two currencies, Ripple would be it. The main reason for this is because Ripple is much more of a direct competitor to banks. Because it operates more like a transaction network than a currency, it’s a lot more plausible that they will be a target for banks to get tough with. Whereas because Bitcoin operates more like a currency, they don’t pose the same threat.
 

Shidan Gouran

COO, Global Blockchain

Ripple too is now considered as an opportunity for banks rather than a threat.

I believe Ripple offers a viable blockchain solution and an enormous amount of utility to banks. As such, I do not believe that big banks will necessarily crush either Ripple or Bitcoin for that matter. While banks are actively investing in and working to develop blockchain-based solutions, it’s going to take a bit more time for banks to come around to the idea of relying on a cryptocurrency and for the industry to become more established. I believe banks are keeping a close eye on Ripple. This isn’t going to happen overnight.
 

Darren Marble 

Chief Executive Officer, CrowdfundX

As experts believe, in spite of the increasing adoption of the blockchain technology behind BTC and XRP by the big banks, it does not constitute a direct connect to the price of the two cryptocurrencies.

BitPay to Receive New York's BitLicense

Having received BitLicense, BitPay can now conduct business with New York-based companies and consumers
17 July 2018   102

The well-known cryptocurrency processing service BitPay obtained a license to work with virtual currencies in the state of New York. Known also as BitLicense, this license is issued by the New York Department of Financial Services (NYDFS) and grants its holders the ability to conduct activities related to cryptocurrencies in the state.

NYDFS has carefully studied the company's application, including its policy on measures to combat money laundering, customer identification, fraud prevention, cybersecurity. The financial situation of the company was also thoroughly analyzed.

New York state has one of the strictest policies around businesses involved in cryptocurrency and working through the approval processes to obtain a License was important to BitPay. We believe this hard work will pay off as New York presents significant business opportunities for BitPay.
 

Stephen Pair

CEO, BitPay

Having received BitLicense, BitPay can now conduct business with New York-based companies and consumers: the first will be able to use the company's processing services to accept payments in Bitcoin and Bitcoin Cash, the latter will pay for various goods and services using these two BitPay supported cryptos.

Note that BitPay was only the eighth company that received BitLicense. Other license holders are Square, Xapo, Genesis Global Trading, bitFlyer USA, Coinbase, Ripple and Circle. In addition, special permissions for operations with crypto-currencies are exchanged by Gemini and itBit.