bitcoin, blockchain

The UK-based bitcoin exchange Coinfloor informed about a launch of Coinfloor Market, a peer-to-peer marketplace where all the traders are able to buy bitcoin from brokers directly.

The entire idea of the bitcoin project is to provide a consumer-friendly cryptocurrency purchases, as the CEO of Coinfloor, Mark Lamb, stated. All the brokers included in the process will be tested via due dilligence verification process, regularly renewed.

As for users, they will register an email address with their set password and will pick a broker, which they favour. After email address confirmation and authentication, they will have to upload valid photo ID and proof of residence. Then they will be able to buy bitcoins and transfer the needed funds in GBP to the respective bank account with minimum deposit of £20. Purchases bitcoins will be provided from Coinfloor’s exchange and held in escrow until confirmation of receiving funds.

On the other side of the world, the central bank of Singapore informed about funding a blockchain record-keeping system included in an investment plan for five year of $225 million, focusing on financial technology.

Funds are planned for construction of innovation centers and technology projects with the target of increasing attractivity for tech startups to build their companies in Singapore and foundation for a ‘small financial centre.’ The Financial Sector Technology & Innovation initiative has been announced by its managing director Ravi Menon, citing bitcoing and blockchain among innovations that are reshaping global financing.

“The intention is to create a safe space for innovation, within which the consequences of failure can be contained,” added Menon. As for the bitcoin, he stated that “whether digital currencies will take off in a big way remains to be seen.”

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