News Summary:July 27
Merging Mexico Peso with Blockchain?
Mexico may become the first country to have their currency integrated into the Blockchain. This shows how quickly peoples mind can change, as this follows a central bank statement in March about how Bitcoin can be risky, and potential drawbacks and limitations of it when it comes to being used as a substitution for legal tender.
One of the driving factors of this change of heart is I believe, the remittance market. With Mexico being the fourth largest remittance service, plenty of money is made when it comes to sending money. This also means plenty of money could be saved, by using Bitcoin and the Blockchain.
Integrating the peso in the Blockchain could also help with corruption, as transparency that the Blockchain allows would not let anything corrupt government officials go unheard. In fact, it may be used for elections, bills, voting, etc.
Reddcoin and POSV
As August 2nd approaches, Reddcoin price has been moving, right now to a current position of number 15 at Coinmarketcap. It briefly was worth more than one Dogecoin, arguably Reddcoins biggest competitor for the spot of the social cyrptocurrency.
POSV, the new wallet everyone is waiting for, and the sudden reduced supply of Reddcoin due to POSV is what I believe are driving Reddcoin prices up, with a current 24 hour volume of around $570k. It seems that it may have reached its peak however, and the release of POSV as well as the new wallet may be the next rally or the last one, depending on how it turns out.
Wearable Wallets? ZobrZobr has you covered!
Ever wanted a t-shirt with your Bitcoin QR code? Well now you can! ZobrZobr is a service that allows you to make a shirt with these four designs, as well as include your QR code, or the QR codes of popular donation addresses. If you would like your t-shirt design chosen, you can submit to a contest, and win 3 BTC as well. For more information, read the writeup by Marco Pineda.
Vertcoin POW change to Lyra2
As you all know, Vertcoin is known for its ANTI-ASIC community. With Scrypt-N ASICs being marketed now, they couldn’t just change the N-factor like it was originally planned, as the ASICS had upgradeability in mind as well. So they decided to switch to Lyra2, an algorithm I believe no coin is currently using for POW. Lyra2 was deemed the natural evolution of Scrypt, by being less complex than Scrypt , as well as the ability for the memory and processor hardness to be decoupled. For more information, read my interview with the lead dev.
Photo via Bitcoinist