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Fidelity Bitcoin Custody Service Coming in March

Fidelity Bitcoin Custody Service Coming in March

Multinational financial services corporation Fidelity Investments is reportedly giving itself a March deadline to launch its Bitcoin custody service. Bloomberg reports three people familiar with the matter confirmed the March target, although the sources were not named.

The cryptocurrency custody solution is being developed to service the much anticipated institutional investors entering the market; retail investors will be unable to access the service when it does launch.

The cryptocurrency storage service was first announced in October last year, with Fidelity betting it is only a matter of time before Wall Street investors move to the cryptocurrency market. CEO Abigail Johnson said at the time: “Our goal is to make digitally native assets, such as Bitcoin, more accessible to investors.”

Johnson has advocated in favor of cryptocurrency for years, introducing Bitcoin and Ethereum mining at Fidelity in 2017. Clients have also been able to access balances from their Coinbase accounts on the website for several years.

The sources also disclosed to Bloomberg that an Ether custody solution would be the next focus for the firm.

Fidelity Investments administers over USD 7.2 trillion in customer assets and is based in Boston, USA.

 

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BitMEX CEO: Bitcoin Is Society’s Best Hope for a Private Form of Electronic Money

BitMEX CEO_ Bitcoin Is Society’s Best Hope for a Private Form of Electronic Money

BitMEX CEO Arthur Hayes has spoken out in favor of Bitcoin, saying that the hallmark cryptocurrency is “society’s best hope for a private form of electronic money.”

The company is a cryptocurrency exchange and derivative trading platform. It is owned and operated by HDR Global Trading Limited, which is registered in Seychelles and has offices worldwide.

In a blog post published before the weekend, Haye’s latest thoughts on the industry entitled ‘Two sides of the coin: the bifurcated near-future of money’ suggested that the future of Bitcoin is ensured, commenting:

“Even in the face of the various centralized forces currently being marshaled: humanity’s bifurcated monetary future will be better than our monopoly monetary past, as some money becomes more convenient while other money becomes far more private.”

Hayes further suggested that until now, monetary systems had been dominated by monetary monopoly and a bifurcated system with Bitcoin representing the cryptocurrency industry would be the best hope for the future, despite the proliferation of alternatives such as Ether, Ripple, and others.

According to the BitMEX boss, another advantage that Bitcoin possesses when squared up against others is its security, having never been successfully hacked in its ten years of use. Painting a rather utopian picture of a background in which cryptocurrency can flourish, he went on to say that he felt Bitcoin could create an environment where individuals can work together towards a common end.

Hayes’ positive comments were made only weeks before he expressed his views about Bitcoin at the end of 2018, suggesting that it would continue its volatile bearish trend in 2019.

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1 in 3 Millennials View Bitcoin as Currency of Choice for Freelancers

1 in 3 Millennials View Bitcoin as Currency of Choice for Freelancers

The results of a recent survey into the preferences of American freelancers by P2P platform Humans.net has revealed that 29% of professionals in the US would be happy to receive either a full or part salary payment in cryptocurrency.

Among the 1,100 US respondents in the survey were self-employed professionals such as self-employed writers, tutors, designers, and developers, of which 4% were already in receipt of some form of salary, in either Bitcoin or Ethereum.

Some 18% of the respondents, who were chosen randomly and not pre-screened prior to selection, said that they would prefer to be paid in Bitcoin or another digital currency over a fiat salary. An additional 11% said that we would not be averse to some kind of partial payment comprising both cryptocurrency and fiat. This resulted in a 29% thumbs-up among survey respondents for some kind of crypto salary.

The age group of freelance professionals in this field is generally millennials based, such is the nature of innovation and design in fintech, attracting many college leavers. A new Clovr survey of investment potential, conducted in October, positioned high-earning millennials at the center stage when it comes to owning cryptocurrency.

These latest figures confirm the results of other surveys conducted this year, showing that it is millennials with money who appear to be taking on cryptocurrency in ever-increasing numbers. This is partly due to the lack of investment options in tradition areas. The Clovr study shows that it is those with annual incomes of between USD 75,000 and USD 99,999 that have become serious investors.

The number of those self-employed professionals looking toward a Bitcoin-based salary was illustrated by another recent survey conducted by British tech company, Sage, that highlighted the fact that across the Atlantic UK freelancers were also keen to receive some kind of crypto-fiat salary payment. The UK survey of 1,000 suggested that similar to the US survey, 31% of Brits would also go for a Bitcoin salary payment should it be offered. Darren Francis, who commissioned the survey commented:

“It’s interesting that more people were leaning towards the “all-in” option; having their sole or dominant income paid to them in cryptocurrency.”

The one emerging fact from the two surveys is that the dip in the value of Bitcoin over past weeks has done little to dampen millennials’ enthusiasm for acquiring the digital currency during this period of market instability, whether it be as part of their salary or a simple purchase. Bitcoin at time of writing is priced at USD 3,884.41 on CoinMarketCap.

 

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Google CEO’s 11-Year-Old Mines Ether at Home

It seems like Google’s boss has a son with secret designs on the crypto world after telling his dad that he was mining Ether at home.

It appears that Google’s CEO Sundar Pichai’s 11-year-old son has his father’s entrepreneurial gene. Speaking at the New York Times DealBook conference last week he let slip that his son used the family computer to mine crypto. He commented:

“Last week I was at dinner with my son, and I was talking about something about Bitcoin, and my son clarified what I was talking about was Ethereum, which is slightly different,” Pichai said. “He’s 11 years old. And he told me he’s mining it.”

It seems that Google top brass have the mining bug after company co-founder Sergey Brin’s admission earlier this year that he was also mining Ethereum with his son at home. It seems that the kids are pretty up to date on the latest cryptocurrency tech details too, as Pichai admitted he had been corrected by his son when they were chatting about Bitcoin recently. Brin revealed:

“A year or two ago, my son insisted that we needed to get a gaming PC…I told him, ‘OK, if we get a gaming PC, we have to mine cryptocurrency.’ So we set up an Ethereum miner on there, and we’ve made a few pennies, a few dollars since.”

The Google boss was discussing his views on screen time for children in relation to a recent New York Times article about Silicon Valley technicians’ families and tech addiction among children. It appears that the computer his son was mining on was actually built by his dad.

“I’m like every other parent I guess,” Pichai said. “I do test a lot of gadgets at home, so I have vulnerabilities in terms of how my kids get access to stuff.”

Pichai said that he had to teach his son some important details about how the financial system worked, “I realized he understood Ethereum better than how paper money works …I had to talk to him about the banking system, the importance of it. It was a good conversation.”

The interview came on the same day that thousands of Google employees around the globe protested against Google’s handling of allegations of sexual misconduct against female employees with a simultaneous walk out. Pichai admitted ‘We didn’t always get it right.’

 

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UNICEF France Now Accepting Multiple Crypto Coin Donations

The United Nations Children’s Fund (UNICEF) has announced that its French office now accepts cryptocurrency donations.

UNICEF France has followed up on other cryptocurrency related initiatives it adopted this year, to add 9 popular digital currencies to its website donation portal. The donation option features most of the popular coins including BCH and BTC.

The United Nations Children’s Fund is a United Nations program headquartered in New York City that provides humanitarian and developmental assistance to children and mothers in developing countries. It is a member of the United Nations Development Group. UNICEF currently works in 190 countries and territories around the globe.

This is not the first case of UNICEF using cryptocurrency to facilitate and fund their projects around the world. Earlier this year the organization announced a program designed to use donors’ computers to raise fiat currency through cryptocurrency mining.

The website, the nucleus of the new project, is called The Hope Page and is able to mine the cryptocurrency Monero using donors’ computer processing power through Coinhive, a crypto-mining service. In February, it launched a similar program to support children in Syria, affected by the lengthy civil war in that country, using donors’ computers to mine Ether. Talking about the latest of the fund’s humanitarian projects to support children around the globe, director of UNICEF France, Sébastien Lyon stated:

“Cryptocurrency and blockchain technology used for charitable purposes offers a new opportunity to appeal to the generosity of the public and continue to develop our operations with children in the countries of intervention.”

Recently, there’s been a significant increase in charity events related to crypto. Some of these have joined a growing establishment of charities accept