The intersection between transparency and privacy can be tricky. Crypto currency bitcoin is a good example of this as its purported anonymity can present problems in transactions and potentially lead to various kinds of fraud. In an effort to make the digital currency more attractive to a wider range of legitimate businesses, students at Trinity College Dublin are looking for ways to increase transparency in transactions without ditching the anonymity altogether and believe a "credit-check" database could be one answer.
, the digital cryptocurrency designed to enable anonymous peer-to-peer financial exchanges without the involvement of third parties, is having serious teething problems. However, most such problems are associated with bitcoin storage or conversion, and should settle down as the currency is more widely accepted. Assuming this happens, let's look at the strengths and weaknesses of a mature Bitcoin currency in a modern economy.
The Federal Reserve of the United States will begin circulating a new $100 bill on Tuesday. The redesigned bank note, which has been delayed by more than 2 and a half years, includes a number of measures designed to make it more difficult to counterfeit, including a 3D security ribbon and a new "bell in the inkwell."
If you’ve ever owned an Xbox
, you’re probably familiar with one of the most annoying payment systems known to humankind: Microsoft Points. They’re great for Microsoft’s bottom line, and nothing but a hassle for customers. Well, the folks at Redmond may finally be ready for change – as the dreaded points are reportedly on their way out. Yet, not far away – at that other
Seattle-area tech company – Amazon just launched a similar payment scheme for its Kindle Fire ecosystem.
Amazon sells its line of Kindle Fire tablets
(roughly) at cost, betting that each owner will buy enough books, music, movies, and apps to make a tidy profit. With digital spending playing such a huge role for the online retailer, Amazon wants to make it as easy as possible for you to throw down for that new Angry Birds
game. Jeff Bezos and company have a new approach to driving the post-purchase Kindle Fire economy: virtual coins.
The U.S. Government has unveiled the new design for the $100 note. Due to enter circulation on February 10, 2011, the note includes two new security features to combat counterfeiting - a blue 3-D Security Ribbon and a "Bell in the Inkwell" which changes color from copper to green when the note is tilted.