June 12, 2015- In This Issue:


Estonian Bank Applies Bitcoin Technology to Create a Wallet App

Estonia-based LHV Bank has given its nod to create an app that will utilize the Bitcoin blockchain technology to facilitate transactions.


The money-transfer app has been named as "The Cuber Wallet," and will be available on both Android and Apple devices. The financial services platform i.e. the app will enable users to send and receive euros at zero costs and in quick time.

According to Finextra, LHV said:


"Cuber (Cryptographic Universal Blockchain Entered Receivables) is technically a new kind of certificate of deposit that can be used as a building block for innovative financial products. The experiment will see it issue EUR 100,000 worth of "cryptographically protected" receivables claims against the bank."


How 400,000 People Are Gradually Adopting Bitcoin in Tel Aviv

Tel Aviv, a city of about 400,000 residents in the heart of Israel, is considered one of the leading cities in the world in Bitcoin adoption. For new bitcoiners, Tel Aviv is like a dream come true; it has everything you need to get started with the digital currency.


For starters, the Israeli Facebook Group "Israeli Bitcoin" has more than 4,500 members. The group is extremely active and friendly to newcomers.


Also, for those who wish to hear an active stream of lectures about the Bitcoin ecosystem there is the Israeli Bitcoin Meetup Group. The group gets together roughly twice a month inside the Google Campus on the outskirts of Tel Aviv. The group has more than 1,800 members, and on average you can find 30-50 people in each meetup.


Ex-NYSE chief joins heavyweights in Symbiont's bitcoin-linked  trading play


Symbiont, which plans to use bitcoin's underlying technology to make it quicker and cheaper to transfer assets between buyers and sellers, has won the backing of several financial industry heavyweights.


The company, according to a statement Tuesday, has raised $US1.25 million from a group including former New York Stock Exchange chief Duncan Niederauer, former Citadel executive Matt Andresen, and two co-founders of high-frequency trading firm Getco, Dan Tierney and Stephen Schuler.


Symbiont wants to sharply reduce the time it takes for most trades to settle, thereby reducing the need for a bank or investor to have its own money tied up in back-office operations. This use of blockchain, a ledger-like technology that underpins the digital currency called bitcoin, could give buyers and sellers almost instant confirmation their trades went through while also creating an indefinite and immutable record of the transaction.


"The blockchain not only has the potential to democratize markets, but to drive down the cost of doing business across all sectors," Mark Smith, co-founder and chief executive officer of Symbiont, said in the statement. "This is a once-in-a- generation opportunity to leverage this previously unimaginable technology."


Is Bitcoin Expanding It's Reach?

Bitcoin is slowly gaining more notoriety as the currency is adopted as an acceptable form of payment by a growing number of merchants.


However, the cryptocurrency is still struggling become a household name as its use remains confined to a small percentage of the population.


A recent study by CoinDesk showed that although the cryptocurrency has gained some traction, rich, white males still make up the majority of bitcoin's user base.


Young People Prefer Bitcoin


A survey entitled "Who Really Uses Bitcoin" showed that the vast majority of bitcoin users were still young people aged between 25 and 34. Responses from 3,515 bitcoin users showed that nearly 60 percent were under the age of 35.


Women A Minority


The figures also indicated that women are still reluctant to use cryptocurrencies; more than 90 percent of the people surveyed were male. However, the report pointed out that the number of bitcoin savvy women who responded was marginally higher than in previous surveys, suggesting that initiatives aimed at getting the cryptocurrency into women's hands could be working.