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Chinese traders are switching to the alternative platforms. The strict measures of the People Bank of China made Chinese exchanges looking for the alternative methods of trading, such as peer-to-peer platforms. For instance, bitcoin trading volumes reaches all-time highs during all past week on the peer-to-peer exchange platform LocalBitcoins. A total of ¥6.6 million yuan was traded last week, which is four-fold bigger than ¥1.5 million of bitcoin trading in yuan of the previous week.
A networked digital ledger puts an end to non-transparency in the world of art. Judith Pearson, the president of the Breckenridge Private Asset Management Group, believes that the lack transactional standards on this market could overcome with the help of blockchain as a system which is capable to keep track of a work of art’s movements. Such a system had got using startup Ascribe, which offers artists a platform for uploading their digital works, securing their attribution and selling them. The value of a work is based on its provenance, but how do you track the provenance of a digital work that can be copied millions of times? Another startup, Blockai, tried to answer this question. Their platform is instantly signalizing if someone tries to claim somebody else’s work. However, digital works are only a smaller segment of the art market. The real coup would be to bridge the gap between physical art and blockchain. So George McDonaugh suggested a solution by combining it with tagging technology. As a result it was created a prototype for a “chainmark” – unique fingerprint that can be hashed onto a blockchain. Thus, a missing chainmark could reveal that a work has been tampered with.
World’s first bitcoin bank. The Bitcoin-Bank was opened in Vienna, Austria. The bank is owned by a Berlin-based blockchain startup, Bit Trust Services and designed to make buying and selling bitcoin easier and safer in comparison with fiat money. Bank also has ATM machines to exchange bitcoin for euro and provide information about virtual currency. Magdalena Isbrandt, managing director of Bit Trust, noticed: “Value and money can be sent straight from user to user”.
The property market to accept bitcoin. AirBNB, decentralized rental service is accepting bitcoin as a payment method for privacy protection of it’s users. Brian Chesky, CEO of AirBNB says, that company has long considered the idea, but there is no better time for its implementation as now. The concept of a universal currency for a united race of humans would be a great achievement for the company.