JUN 29 DIGEST: Learn Bitcoin Playing Minecraft; LocalBitcoins Competitor Launches

Kids’ Minecraft Server Includes Bitcoin as In-Game Money; a competitor has finally launched to the popular P2P bitcoin exchange service and more top stories for June 29.

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JUN 29 DIGEST: Learn Bitcoin Playing Minecraft; LocalBitcoins Competitor Launches

Kids’ Minecraft Server Includes Bitcoin as In-Game Money; a competitor has finally launched to the popular P2P bitcoin exchange service and more top stories for June 29.

Kids’ Minecraft Server Includes Bitcoin as In-Game Money

PlayMC, a Minecraft game server for kids, has included Bitcoin into its game environment. Players on the server will now earn bitcoins, which they can also use to purchase additional game content.

According to PlayMC, this addition will help educate children about Bitcoin and other cryptocurrencies in a practical environment.

BitsGo, Localbitcoins competitor launches

BitsGo.com, a platform that connects sellers and buyers of bitcoin online has launched. The startup has entered a space that LocalBitcoins has dominated since 2013. The founders of BitsGo have designed it to support different payment methods found in hundred of countries around the world.

BitsGo website:

“BitsGo.com (BG) created for people who want to exchange any of the usual currencies to Bitcoins online. The user can choose search filters and respond to an offer or post own advertisement specifying the exchange rate and payment method. All the transactions are carried out directly between people (P2P) through a site. It is allow to not send bitcoins until payment is received.”

Hong Kong Free Press is now live, accepts BTC

Hong Kong Free Press (HKFP), an English-language news website that seeks to provide credible reporting on local and national affairs, has gone live. To guarantee free and independent reporting, the non-profit online publication accepts bitcoin donations.

HKFP:

"We have a young team of bilingual reporters who ensure we are first to breaking news. We also have a secure, multimedia website designed to be a platform for expert voices, citizen contributors, and local advocacy groups. Through our content sharing links with Chinese media, HKFP aims to raise local and global understanding of Hong Kong issues in the post-Occupy era."

Primedice discloses how it was exploited for $1M in Bitcoin

Primedice, a bitcoin provably fair online casino, has disclosed how it lost about $1M in Bitcoin to hackers who manipulated its provably fair RNG system. In a post, the company not only gives details of the heist that took place between the months of August and November 2014, but also appeals for any information that could help it recover the money.

According to the company, the disclosure is also motivated by the need for transparency as well as to help others learn from its mistakes.

Primedice:

“This is the story of how we lost around $1 million worth of bitcoin to a hacker who exploited our online casino’s RNG system. This happened last year, but we’ve decided to share our experience for transparency and so that others can learn from our mistakes.”

Indian IT Firms to Focus on Bitcoin’s Blockchain Technology

Indian software services providers and IT consulting giants, Cognizant Technology Solutions Corp., Tara Consultancy Services Ltd., and Infosys Ltd., have shown interest in Bitcoin’s blockchain technology. Apart from exploring its use cases in their day-to-day operations, they are also advising clients.  

Vishal Sikka, Infosys CEO and head of Infosys’ core banking product Finacle:

“The thing with this (Blockchain) is that we still do not know the full technology impact it can have. More than just knowing the payments, we can get insights in legal documents, or use for even credit-worthiness of parties. All this obviously makes your (core banking) product stand out.”

Indian IT Firms to Focus on Bitcoin’s Blockchain Technology

Timechain, a New Technology, to Improving Smart Contract Using Time-Locks

Two developers, Matthew Roberts and Elías Snær Einarsson, who have been active in the crypto space, recently proposed and published a white paper on a new technology known as Timechain.

The technology is based on a chain of keys that one can use to encrypt any information for a certain period. A decentralized autonomous company (DAC) provides incentives for the people who create and maintain the chain.

Matthew Roberts:

“To start with: we are. We're building the timechain to solve a very specific problem with smart contracts called transaction malleability. TX malleability effects refund protocols in smart contracts, and in order to fix them you have to rely on third parties to hold private keys. The timechain allows us to provide a refund service for our smart contracts (or anyone’s) which can't be hacked because of how the service is enforced.”

Timechain, a New Technology, to Improving Smart Contract Using Time-Locks

BIS Warns that the world is defenseless against the next financial crisis.

A report by the Bank for International Settlements (BIS) has indicated that the world is not ready to fight another global financial crash. This is because central banks low interests meant to shore up economies have encouraged excessive risk taking.

Claudio Borio, BIS head of monetary and economic department:

“Persistent exceptionally low rates reflect the central banks’ and market participants’ response to the unusually weak post-crisis recovery as they fumble in the dark in search of new certainties.”

Blockchain Technologies Corporation Set to be part of Global Arena Holding, Inc.

Blockchain Technologies Corporation (BTC), an early-stage investor, incubator, and seed accelerator for cryptocurrency startups, has entered into an acquisition agreement with Global Arena Holding, Inc (GAHC). The two companies disclosed this new corporate arrangement through a press release.

BTC already owns several startups with services built on the Blockchain technology. This acquisition by GAHC will make it part of a publicly traded company.

BTC Chairman & Chief Executive Officer Nick Spanos:

"We're delighted with the GAHC proposed merger as it will enable us to compensate developers with a publicly traded stock, and we are further inspired by the knowledge that as a function of this proposed merger, the public can now participate in a company with Blockchain technology.”

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