August 19, 2014 - In This Issue:


How Bitcoin might transform international payments - a lifeline for millions

 

     It's September, 13th, 2008. One of the most powerful men in America is about to foresee an earthquake in the financial system, something that will change the world. 

 

     Jamie Dimon, the head of JP Morgan Chase, has seen it all-but even he has to steel himself for this moment. "You are about to experience the most unbelievable week in America," he says over the phone to his employees.

 

     Tomorrow, the headlines will screech about Lehman Brothers' impending demise. A recession will question a central premise of modern economics: that we had it all figured out.

 

     Robert Lucas, one of America's most prominent economists, put it best: "the central problem of depression-prevention [has] been solved, for all practical purposes."  

 

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Bitcoin Expo 2014 Aims To Bridge The Asia-gap

    As a global movement, from day one Bitcoin arrived in the scene, the digital currency has been an example of true international cooperation, attracting a community across the globe unified around a vision of a world without barriers.

 

    But to achieve such an aim, there are more barriers to overcome than those imposed by governments and banks; culture and language can be a formidable obstacle as well. One clear example is the confusion caused last year when PBOC released the statement, which could have been alleviated had there been better communication.

 

    This demand for communication has given rise to a flood of Bitcoin media outlets as well as a generation of emerging Bitcoin journalists / writers - many, like your correspondent, write in second languages for an international audience.

 

    There are also increasing number of Bitcoin meet-ups and conferences that try to bridge the gap. One example is Bitcoin Expo 2014, which will open next month in Shanghai. Aware AWRE +0.01% of the demand for cross-cultural communication, the Expo describes its mission as being a "bridge for start-ups, service providers, investors, venture capitals and traders to cross the Asia-gap".

 

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New Businesses Accepting Bitcoin: Subway in Argentina, Payza and More

     Bitcoin is slowly changing the way we pay for goods and services. The digital currency is gaining tremendous recognition among businesses of all sizes and shapes. Bitcoin is currently the world's most popular cryptocurrency, and it's safe to say that it may threaten to change the overall status of the global monetary system sometime in the future.

 

     In this extraordinary world of the World Wide Web, "never say never" has become many people's mantra. Can Bitcoin go beyond PayPal? Will it dominate the way we send and receive money? All of this remains to be seen but until that happens, here are some more businesses accepting Bitcoin.

 

    Local Subway franchise in Buenos Aires, Argentina, starts trading sandwiches for bitcoins. The owner owns two locations and he recently decided to make them cryptocurrency-friendly. Young entrepreneur Fernando started the business back in 2012, and became interested in digital currency at a Bitcoin Conference in December 2013.

 

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Ebay in talks to take bitcoins at payments unit: WSJ

    Ebay's PayPal is in talks with Coinbase and other bitcoin transaction providers to integrate the virtual currency within its Braintree payments system, The Wall Street Journal reported on Thursday.

 

     Executives at PayPal, which owns the service that handles payments for startups from room-bookings network AirBnB to car-on-demand service Uber, have not struck any agreements, the Journal cited people familiar with the matter as saying.

 

    A deal would be an endorsement for a cryptocurrency, which is gaining acceptance with a slowly growing number of businesses, including online retailer Overstock.com. But some industry executives have warned about the risks of an unregulated currency.

 

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