Living Room of Satoshi enables BCH payment

Australia’s Living Room of Satoshi enables its users pay bills using Bitcoin Cash
08 August 2017   2653
Bitcoin Cash

A new cryptocurrency representing a hard-forked version of Bitcoin, different from it in the blocksize limits

Bitcoin Cash, the hard-forked version of Bitcoin, is now about a week old. It's not a surprise that it's always difficult to find use cases for a currency which only exists for a little period of time. Thus, very fer merchants accept it right now.

Bitcoin

Is the first decentralized peer-to-peer payment network that is powered by its users with no central authority or middlemen

However, an innovative Australian startup that allows its users to pay bills with Bitcoin, Living Room of Satoshi now has enough courage to do it.

Thus, Australian Living Room of Satoshi is the first major company to let its users pay bills with Bitcoin Cash. 

Australian Living Room of Satoshi  Australian Living Room of Satoshi 

It seems that the users have already used the service to pay their bills:

I paid my car registration yesterday with this, using btc though, HODL my btcc :)
 

suchhodler on reddit.com

Blockchain

Distributed database that is used to maintain a continuously growing list of records, called blocks

It is obvious that the majority of companies wants the Bitcoin Cash network to stabilize first. However, transaction fees are a lot lower compared to Bitcoin, which was to be expected in the beginning.  

Probably, if Living Room of Satoshi's transactions go successfully, other services will start accepting Bitcoin Cash too. 

Binance to Join Forces With IdentityMind

IdentityMind provides exchanges with ability to comply with KYC\AML worldwide
26 March 2019   79

Binance announced an agreement with IdentityMind, which will help it ensure compliance with regulatory requirements and improve data security.

IdentityMind provides cryptocurrency exchanges with access to the platform, thanks to which they can monitor compliance with customer identification and anti-money laundering requirements in real time. This includes connecting new customers, managing their profiles and monitoring transactions.

The partnership between Binance and IdentityMind further strengthens our compliance capabilities and our commitment to re-invest in the blockchain ecosystem and grow it. We continue to evolve and enhance security systems while adhering to regulatory mandates in the countries we operate in. The goal is to foster greater trust among financial institutions worldwide.
 

Samuel Lim

Chief Compliance Officer, Binance

Last year, Bloomberg wrote about the Binance user identification system as the least strict in the entire industry, and linked the “level of anonymity” provided by the exchange with the risks of money laundering and market manipulation.

In October, Binance entered into an agreement with a supplier of transaction analysis software on the blockchains Chainalysis, and in November with Refinitiv, which developed an automated solution for client verification.

Whether the ordinary users of the platform will feel the impact of the integration of IdentityMind tools on themselves, the exchange does not specify.