MAY 27 DIGEST: Block Chain Summit Kicks Off on Richard Branson's Private Island, Xapo Announces Advisory Board

The Block Chain Summit kicks off at Branson’s private island, Xapo announces its advisory board, integrates Clef's 'passwordless' authentication system, a new Bitcoin center in the capital city of Brazil, and more top stories for May 27.

Block Chain Summit Kicks Off on Richard Branson's Necker Island

The Block Chain Summit, a four-day event seeking to attract attention to how decentralized ledger systems might impact the world, kicked off this week on Richard Branson's private Necker Island.

Gabriel Abed, co-founder of the Caribbean’s first digital currency asset exchange, Bitt, announced on Tuesday he will be representing the region.

Abed said in a release that he will "visit Sir Richard Branson’s private island as we conclude a set of discussion highlighting critical issues and solutions that will help lay out a framework for a world where humankind is fully benefitting from the amazing technology behind the Blockchain."

Xapo Welcomes Former Visa, Citibank Executives in Advisory Board

Xapo, a bitcoin wallet and storage provider, has announced the formation of its advisory board composed of three "visionary leaders," Dee Hock, the founder of Visa, John Reed, former chairman and CEO of Citibank, and Lawrence H. Summer, former Secretary of the Treasury under President Bill Clinton.

­The company said in a blog announcement:

"We look forward to continuing to build the global Bitcoin ecosystem with the help of these accomplished leaders and visionaries from the worlds of finance, economics and public policy." Integrates Clef's 'Passwordless' Authentication, an OTC bitcoin exchange looking to rival LocalBitcoins, has integrated Clef's passwordless two-factor authentication to "make logins safe and easy for the big audience."

Jad Mubaslat, CEO of, explained in a release:

"For us, Clef is more than just an evolved two-factor solution. We're excited about using Clef to replace confusing passwords altogether. This improves both the experience and security habits of our users."

BitcoinToYou Opens Bitcoin Hub in Brasilia

BitcoinToYou, a local bitcoin and litecoin brokerage, has announced the opening of its fourth franchise in Brazil’s capital, Brasilia. These physical locations are aimed to promote interest in bitcoin as a technology, reported CoinDesk.

According to Andre Horta, CEO at BitcoinToYou:

"We need to go beyond the obvious and see the important role of having physical presence in major cities of the country, thus promoting bitcoin, breaking barriers and showing that bitcoin is here to stay even to those who are skeptical."

New Jersey Reaches Settlement with 'Tidbit' Creator

The state of New Jersey and the creator of "Tidbit," a software designed to help websites make money by using the power of users' computers to mine bitcoins, have reached a settlement Tuesday that prohibits the creator from accessing computers in New Jersey without getting consent from their owners, reported

"MIT student Jeremy Rubin developed the software with classmates as part of the Node Knockout Hackathon [...] Rubin is prohibited from accessing New Jerseyans' computers without clearly notifying the owners and obtaining their consent. If Rubin violates agreement within two years, he'll have to pay the state $25,000."

ChainPay Partners with Payment Goblin

Bitcoin startup ChainPay, has announced a new partnership with payment processor Payment Goblin to allow merchants to start accepting bitcoin.

James Carter, founder of ChainPay, said in a release:

"Payment Goblin is a forward thinking payment processor who recognizes the value of Bitcoin payments. We are pleased to be working with such an organisation whose goals are aligned s