GA Tech and BitPay team up to accept BTC for Concessions/Dining

ATLANTA, GA – OCTOBER 1, 2014 — Georgia Institute of Technology will be the first university in the world to integrate bitcoin payments into its stadium concession sales and student dining and shopping credit system, announced Wednesday by BitPay, the world’s leading bitcoin payment processor.

Bitcoin point of sale devices will be located in the student section of Bobby Dodd Stadium, and the Barnes & Noble store in Tech Square will be home to a bitcoin-enabled point purchase terminal for student credit BuzzCards. Students who use bitcoin will now be able to purchase food and goods at almost all locations on the Tech campus.

Georgia Tech was founded in 1885 and remains one of the most prestigious public universities in the United States. The university has contributed a great deal of research as well as many notable graduates to the field of applied technology over the years. It continues to engage itself with technological progress through its leading role in university adoption of bitcoin through an innovative deal brokered by IMG, the university’s multimedia rights partner.



 

As the “key to campus life” on Georgia Tech, the BuzzCard will be an important interface for student bitcoin use. Yellow Jackets fans will also be able to easily and quickly purchase snacks and drinks at Bobby Dodd Stadium with the world’s fastest payment method. These new bitcoin venues, along with bitcoin wallet provider Pheeva’s announcement of a unique “Jacketwallet” for Georgia Tech, hold promise for the role which digital currency may come to play in student life.

“We look forward to working with BitPay to make bitcoin a viable payment option for our students and fans,” Georgia Tech AD Mike Bobinski said. “At Georgia Tech, we are always looking to lead in innovative ways, and this partnership with BitPay gives us an opportunity to do so by integrating this new technology at a sports venue and in the daily lives of our students.

“Georgia Tech is one of the best sources of innovation in the country,” said Tony Gallippi, BitPay Executive Chairman and Georgia Tech alumnus. “BitPay is proud to offer its own innovative bitcoin payment processing to the university and its students.”

In July, BitPay announced a breakthrough partnership with the Georgia Tech Athletic Association. The sponsorship is designed to build awareness to bitcoin by displaying BitPay’s logo along with the bitcoin symbol in Bobby Dodd Stadium and the McCamish Pavilion through the 2014-2015 school year.

 

 

Bitcoin Law Expert Marco Santori Joins Blockchain

MsantoriBlockchain has announced that Bitcoin regulatory expert Marco Santori will be joining the Blockchain team as its Global Policy Counsel.

Marco is a seasoned technology transactions attorney and a recognized authority on the law of digital currencies. As Chairman of the Bitcoin Foundation’s Regulatory Affairs Committee and in private practice, he has served as a longtime adviser to, and representative of, the Bitcoin industry. Marco has spoken and conducted outreach on the industry’s behalf at the highest levels of government and industry, including state and federal regulators and policymakers, bulge­bracket banks, credit unions, and global payments companies.

 



 

“Blockchain is the world’s most successful digital currency wallet software provider for a reason: Its core values emphasize user security, financial privacy and an innovative, entrepreneurial spirit,” Marco said. “I look forward to working with a team that represents the same principles on which Bitcoin is built and the same principles that will drive this industry into the future.”

Marco is also the author of the Bitcoin Law series of articles available on CoinDesk, as well as the Bitcoin Foundation’s testimony to the New York Department of Financial Services on the proposed BitLicense.

Marco will lead Blockchain’s policy and governmental affairs efforts through Pillsbury Winthrop Shaw Pittman, a global law firm, and he looks forward to dedicating its significant resources to Blockchain’s success.

BITGIVE FIRST BITCOIN CHARITY TO RECEIVE 501 (c) (3) DESIGNATION

image001(SACRAMENTO – August 25, 2014) – BitPay, Xapo, LibraTax, Roger Ver and others are kicking off an initial fundraising campaign that begins today for the BitGive Foundation. BitGive has received its official 501 (c) (3) status from the IRS, a major achievement that validates BitGive’s approach and efforts.  They are raising initial funds to build their long term fund for charitable giving.  BitGive is the first Bitcoin nonprofit organization to receive a 501 (c) (3) approval.  In just over a year since its founding, the BitGive Foundation has raised funds and lead campaigns donating to several public health and environmental causes.

Connie Gallippi, Executive Director of BitGive shares, “One of our first goals was to secure our 501 (c) (3) status, which enables BitGive to provide US donors a tax deduction for their donation and provides a number of legal and financial benefits to the organization. We are very grateful for the expert legal team we have at Perkins Coie, LLP, who provided pro-bono services to establish the Foundation and apply for this tax exempt designation.”

 



 

Gallippi said they can now turn their attention towards establishing a multi-million dollar investment fund to provide sustainable support for the organization and to make financial contributions to improve public health and the environment worldwide. They are very pleased to have BitPay, Xapo, Libra Tax, and Roger Ver leading the effort and look forward to welcoming more Founding Donors.

BitGive’s mission is charitable giving and they are currently partnering with The Water Project to raise $10,000 (BTC equivalent) for clean, safe water in sub-Saharan Africa. BitGive, BitPay, and numerous other donors have contributed to the campaign, which is currently at over 75% of the goal.

In earlier efforts, BitGive and the Bitcoin Community raised $4,850 in one day for Save the Children for Philippines Typhoon Haiyan Children’s Relief Fund. The BitGive Foundation has also donated 1 BTC to Team Rubicon, a nonprofit organization deploying veterans for disaster relief, for Tornado Relief across the mid-west US.

BitGive’s Board of Directors includes Stephen Pair co-founder and CEO of BitPay; Patrick Murck, legal counsel at the Bitcoin Foundation; Madeline Finch, a former Administrative Officer of a community foundation; Curtis Alling, Principal and CEO at Ascent Environmental; and Karsten Behrend, Chief Compliance Officer at Xapo. The organization was supported in its first year by donations and in-kind support from KnCMiner, Bitcoin Development Fund, BitPay, Perkins Coie, LLP, and many others.

BitGive is launching today their Founding Donors Campaign and Membership Program for organizations and individual donors who wish to support the organization’s mission.  These programs are not limited to US donors and welcome donors from all over the world.

To support the BitGive Foundation, donations are being accepted at: http://bitgivefoundation.org/

European Bank Santander partners with Yegii to study impact of Bitcoin on Banking System

santander-bank-logoEuropean bank Santander has commissioned a study to “Analyze the impact of bitcoin and other cryptocurrencies on banks and devise a strategic course of action.”

The study is being facilitated as a challenge through Yegii, an ‘Insight Network’ founded by Trond Undheim. Undheim is also a Senior Lecturer at MIT Sloan School of Management, as well as Managing Director at Tautec Consulting.

The challenge was initiated by Julio Faura – Head of Corporate development for Banco Santander. According to Dr. Undheim, Faura was “looking for additional outside perspective onto the topic of Bitcoin. While acquiring consulting services from top tier consulting firms can be exciting, he thought that an outsider, multidisciplinary perspective, would be particularly helpful.”

 



 

Founded in Spain in 1857, Banco Santander is listed 43rd on Forbes’ list of world’s 2000 largest companies, placing it above Goldman Sachs, Ford Motor Company, and even Google.

Yegii is an insight network with the objective of consolidating information into readily digestible insight into changing dynamics within industry caused by advances in technology, changes in regulation and business models. Forging partners with existing networks as well as trade associations, publishers, companies, and individuals, Yegii seeks knowledge from all sides of socioeconomics to best understand how to guide executives and company directors in making decisions best for their shareholders as well as society.

yegliilogoDr. Undheim is trying to build a ‘dream team’ of experts would be multidisciplinary. He’s looking to create a group consisting of “a bitcoin expert, a management expert, a project manager, a data scientist/scientist/engineer, a banker, an academic, and a student with lots of energy, ideally from different continents, and to include both believers and skeptics.”

When asked why this is an important challenge to for Bitcoiners to meet, Undheim stated that “This challenge is both an opportunity for Bitcoiners to express their viewpoints and acquire the support of a major multinational bank that is very forward thinking.” and that “While the Bitcoin community has progressively been taken more seriously over the past year, this is the chance to gleam insight into the possibility of banks adopting it as a mode of transaction.”

Dr. Undheim also suggested that the challenge is also “a great opportunity for Bitcoin experts to collaborate with others whose viewpoints they might not have been able to engage in such a focused and long discussion/collaboration effort.”

To become involved, one must follow two simple steps. The first is to register as and identify your experience as an expert on the platform here: http://www.yegii.com/expert/register. The second step is to submit an initial response to how one would approach the impact of bitcoin on banks here: http://yegii.com/challenge/bitcoins-impact-banks-265

Stage 1 entry ends: August 27th, 2014
Stage 2 refinement ends: September 10th, 2014
Stage 3 (final report): September 20th, 2014

If you have any of these skills (or other skills Yegii should have highlighted), respond to the challenge and compete to join the small team of collaborators.

Slovenia to host first CEE Bitcoin conference

logoWhether you are a Bitcoin owner, or technologist, developer, entrepreneur, or just Bitcoin enthusiast, you can participate in the first Bitcoin Central & Eastern European Conference to be held in Ljubljana, the capital of Slovenia, on September 11-12.

The conference is to raise attention to cryptocurrencies as a business tool.  International speakers will cover a broad range of topics related to Bitcoin’s potential to boost businesses.

The conference is sponsored by ComCoin –Slovenia-based bitcoin consulting company, which also features the first two-way Bitcoin ATM machine in the country.

The keynote speaker is Steve Beauregard – CEO and Founder of International Payment platform GoCoin.com.

 

New Economy Movement set to launch

Logo-with-slogan1-1024x412NEM – the New Economy Movement – is set to launch in November , after almost nine months of development.

It has a fair distribution model, 100% original codebase, and important advancements in the underlying technology. The ecosystem is based on a new algorithm for transaction verification called Proof-of-Importance – an evolution from Bitcoin’s Proof-of-Work and the Proof-of-Stake algorithm that are used by other coins. The resulting outcome is a blockchain management solution that requires low energy and is thus environmentally friendly.



Consisting of the NEM Infrastructure Server (NIS) and the wallet, NEM Community Client (NCC), the NEM Beta goes live in September and developers are working tirelessly to roll out the first cut of the NEM ecosystem by November.

Extensive ownership of high-powered machines or a large store of NEM coin value will not impact the distribution of NEM coin harvesting (mining). The unique Proof-of-Importance algorithm will reward nodes that are the most important to the NEM economy, not those who have the largest amount of NEM. This encourages adopters to spend NEM and discourages hoarding, thus increasing the velocity of money. This type of distribution eliminates the myriad of problems associated with traditional mining, such as extreme price fluctuation on exchanges, deflation, massive energy expenses, and centralization. Proof-of-Importance was designed based on the premise of “having a simple machine will do,” so long there are active transactions and network connectivity on that node. This advanced technical property of NEM ensures a fair distribution as it allows anyone to participate, which is the very core of the ideology of NEM.

As the NEM team explains:

“The world we live in could be made better. We could make trade and finance fairer when we use a decentralized currency and reduce the influence of the established capital. We could prevent the corruption of centralized power when we embrace grassroots movement and decentralization. We could support the principle of equal opportunity to give all people a fair chance in life. We could transform the boss-employee hierarchical relationship in most conventional working environments to one where people are partners and friends and making decisions in a democratic fashion. NEM community advances its ideas and projects via Nemcoin premier decentralized technological platform.”

NEM will be created with a maximum of 4 billion units, divisible to 6 figures after the decimal, giving a smallest unit of 0.000001 NEM. Of this, 75% has been fairly distributed, while the remaining will be used to finance the development of the ecosystem post launch of V1, which is expected to be several months after the initial launch.

A crowd sale event will take place soon to hasten the development of mobile devices and other ecosystem projects. This shall be taken as a parallel exercise and integrated into the development of the ecosystem. The crowd sale shall involve selling 1 Oz. 0.999 Pure Silver rounds and 1 Oz. .9999 Pure Gold rounds with NEM branding and attached cold wallets containing NEM. The announcement shall be made on the website as shown at the end of this press release.

BitPay beefs up San Fran office

ATLANTA, GA — August 14, 2014 — BitPay, the world leader in business solutions for the bitcoin digital currency, has expanded its San Francisco office with several new hires.  As part of the recent growth, the company has named Sonny Singh as its Chief Commercial Officer to oversee all sales operations.  With over 15 years of experience in helping to grow tech companies, Sonny will be responsible for increasing BitPay’s customer base of over 40,000 merchants.

Previously, Sonny was part of the founding sales team at Jumio as the Vice President of Sales and Business Development, where he was responsible for building and managing the sales team that signed up thousands of merchants including five of the top ten consumer Internet companies.

“BitPay offers merchants a no-risk way to increase revenue while decreasing interchange costs and credit card fraud,” Singh said.  “When I looked at the amazing growth rate BitPay has been experiencing, I realized bitcoin is a movement that is going to change ecommerce forever.”

Sonny has over 15 years’ experience in Silicon Valley and previously worked at InMage Systems and Niku which were acquired by Microsoft and Computer Associates respectively.

 



 
“Sonny’s experience in Silicon Valley makes him the perfect candidate to build out our San Francisco office,” said Tony Gallippi, Co-founder and Executive Chairman of BitPay.  “While BitPay is used by global enterprises, it’s also designed and priced so technology startups can go live quickly.”

In addition to Singh, BitPay has selected Steve Pratt to serve as Director of Business Development. Pratt formerly worked at VISA for 21 years as a vice president in the healthcare markets industry.He earned his Bachelor of Science from the University of Arizona.

BitPay has also added Gregg Zigler as a Senior Software Engineer.  Gregg has spent 10 years working on PayPal’s foreign exchange architecture.

Worldwide, BitPay has grown to over 60 employees and has also hired Pierre Rochard, Hamish Eisler, Christopher Jeffrey, Jason Massey, Emily Vaughn, Andrew Mandel, Corey Glaze, Braydon Fuller, Ashley Wheeler, Ryan Foran, Alan Stoll and Josh Estes.

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