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Eric Lombrozo, a Bitcoin core developer, believes that bitcoin is about monetary independence and freedom, instead of offering a centralized settlement network which already serves because the backbone of today’s international economic environment. During the last two years, various bitcoin communities, analysts and specialists have debated on the characterization of bitcoin, especially whether bitcoin demonstrates the qualities of a settlement network or virtual gold. Since the preliminary deployment of the bitcoin network, Bitcoin core creators and different abilties in the open source improvement community of bitcoin have focused on strengthening security measures to remove the presence of a government in the bitcoin network and ensure the network itself will not be compromised in the future. The prioritization of safety rather than flexibility and capability as seen in opportunity failed blockchain initiatives allowed bitcoin to prosper and evolve into a decentralized...

Hong Kong The Securities and Futures Commission, an independent statutory authority that regulates the securities and futures markets in one of the world’s major financial hubs in Hong Kong is joining the R3-led financial blockchain consortium. According to a report in the Wall Street Journal, the Hong Kong regulator is working with R3’s numerous members that includes banks and technology developers to test blockchain ledgers to record and settle securities and futures transactions. The collaboration is yet another example wherein banks and regulators are coming together to push blockchain prototypes out of the lab environment to real-world financial systems. Claim Your own Bitcoin today “Both sides need to understand why this tech works and what needs to be changed to make it comply,” stated R3 managing director Charley Cooper as quoted by the publication. Bringing Fintech into a Financial Hub Widely known as a traditionally technology-forward country, Hon...