Top news and views about Bitcoin and Cryptocurrency for 12 Mar 2017

$20 Bln German Energy Company Brings Blockchain to Cars for US Drivers

A San Francisco startup Oxygen Initiative in partnership with the $20 bln German energy company Innogy SE is introducing a Blockchain-based platform for drivers in the US.

Essentially, the Oxygen Initiative-Innogy SE joint Blockchain platform “Share&Charge” enables drivers to process virtually every operation related to clean energy-based automobiles. These include allowing drivers to share their charging stations, pay for tolls and charge electric cars.

According to the Oxygen Initiative founder and CEO Stephen G. Davis, Blockchain technology significantly reduces operating costs which were previously handled by Innogy SE when the corporation was using a centralized database overseen by its employees in a sequence of time-consuming manual processes.

Full story at http://bit.ly/2msRRqw

Analyst: Expect Bitcoin Price at $3,000 By Year’s End

Bitcoin price could hit $3,000 by year’s end, having recently traded above gold and hitting a new high, according to Adam Davies, a consultant at Altus Consulting who works with financial institutions on technology. CNBC recently interviewed Davies, noting in the interest of disclosure, that he owns bitcoin.

That price would mark a near 150% gain over the recent $1,204, and more than 130% over the $1,293.47 high from last week.

Full story at http://bit.ly/2mb6f40

Research Says Claims of Terrorism Financed With Bitcoin Are Exaggerated

A new report from a British defense and security think tank, the Royal United Services Institute (RUSI), reveals that reports of terrorism financed through Bitcoin are greatly exaggerated.

‘Treating Cryptocurrencies as an Exceptional Threat is a Misleading Impression’

Research Report Says Financing Terrorism With Bitcoin Is ExaggeratedRUSI consultant David Carlisle said that there is a lot of attention given to the possibility of bitcoin being used as a terrorist financing tool but “overreaction could stifle an important new financial technology”. He noted that there are very few instances where cryptocurrencies have been used for terrorism. However, the prospect of utilizing virtual currencies for terrorist activity has produced a significant response from many governments. Believing the response to be sensationalized, he states that: "Treating cryptocurrencies as an exceptional threat creates the misleading impression that more conventional financial products are not already equally, or more, vulnerable to terrorist exploitation."

The RUSI contributor says that it is not yet clear whether cryptocurrencies will be used in terrorist financing. At the moment, Carlisle explains that terrorists already have a vast array of existing “financing streams, which show little sign of drying up”. Additionally, another RUSI report reveals that lone actors and small cell terrorists are using financial services such as student loans, payday loans, welfare benefits, and cash.

Full story at http://bit.ly/2neqoaf

Reserve Bank of India Predicting the Future of Bitcoin

The Deputy Governor of the Reserve Bank of India (RBI), R. Gandhi, gave a keynote address last week at a fintech conference stating that Bitcoin has value and is eliminating currency. However, he also gave several reasons why digital currencies that are not backed by the government will fail to achieve mass adoption.

Fintech players, leading bankers, technology experts, and policymakers gathered last Wednesday in Mumbai at the conference called Picup (Platform for Innovation and Collaboration with Upcoming and Promising) Fintech 2017. The event was organized by a collaborative effort of IT industry body Nasscom, industry chamber Ficci, Indian Banks’ Association (IBA), and the Boston Consulting Group (BCG).

The Deputy Governor opened the event with a 20-minute inaugural address. He discussed fintech, crowdfunding, blockchain technology and Bitcoin, with the general subject of digital currency taking up the latter half of his speech.

Full story at http://bit.ly/2msPgfS