July 24, 2014 - In This Issue:


Payments giant First Data acquires Gyft in an effort to bring digital gift cards to the masses

Gyft, a Redwood City-based virtual gift card provider has agreed to an acquisition by payment giant First Data, Pando has learned. The terms of the transaction were undisclosed, although early Gyft investor, Karlin Ventures managing director TX Zhuo calls it "a great outcome for everybody involved." The transaction is expected to close next month.

The two year old startup has raised a total of $6 million through its Series A round of funding with backers including Karlin, Google Ventures,A-Grade Investments, Canyon Creek Capital, The Social+Capital Partnership, and angels David Sacks and Haas Portman.

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BitVest Digital Mining Corp. selects PeerNova for large scale Bitcoin Mining Deployment
BitVest Digital Mining Corp. selects PeerNova as its strategic hardware supplier after an extensive review process. PeerNova's PetaOne™ enterprise class bitcoin mining systems offer the best combination of power, efficiency and cost for BitVest's planned large scale deployment.

 

"We are very pleased to be chosen as BitVest's supplier of bitcoin mining systems", said Dr. Naveed Sherwani, CEO of PeerNova. "Considerable design and engineering work was done by PeerNova to make these systems not only the most powerful, but the most efficient as well. This decision by BitVest is a strong endorsement of the fact that PetaOne™ systems are the best choice for Petahash level, enterprise deployments.

 

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Overstock to Extend Bitcoin Payments to Global Customers

Patrick Byrne, CEO of e-commerce giant Overstock.com, has announced that the company intends to expand its bitcoin payments program to international customers in the next four to six weeks.

 

To date, the option to pay for purchases in bitcoin has only been available to US customers, in what has become a similar offering for the industry's major merchants. Dell, for example, only allows US-based customers to pay in bitcoin, while Expedia limits the offering to its US website.

 
Patrick Byrne: Overstock Exploring Block Chain-Based Public Stock Offering

Overstock.com has proved itself to be a pioneer in bitcoin advocacy, helping push a number of major merchants to consider accepting digital currency when it became the first marquee name to do so this January.

Now, in a new interview with CoinDesk, CEO Patrick Byrne has opened up about how Overstock may be seeking to further develop its plans for promoting decentralization in the global financial market.

The Utah-based e-commerce giant launched a new open-source wiki page on its website on 29th July. Entitled 'How to issue a cryptosecurity', the page provides a broad overview of the topic, and lists the pros and cons of the various major players in the marketplace including Counterparty, Ethereum and NXT. The offerings all allow users to trade securities person to person, without a centralized mediator such as a stock exchange.

         
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