The Greeks Vote NO, Setting Stage for Possible Parallel Currency and Eurozone Exit

Greek voters have issued a surprisingly loud and clear statement of support to Greek Prime Minister Alexis Tsipras, and defiance to European authorities and the International Monetary Fund. In the referendum celebrated Sunday, an overwhelming majority of more than 61 percent of Greeks, with an impressive 22 percent lead over the 39 percent of Greeks who voted yes, have said no to the bailout deal proposed by the country’s creditors. Opinion polls before the referendum showed the difference between the Yes and No camps as too close to call, and therefore the strong majority won by Tsipras comes as a shock to many observers. The European authorities should consider the results of the referendum a wake-up call – the Greeks […]

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Coinbase Positioned to Grow Bitcoin Presence in Australia after Investment by Westpac

Following the strategic investment of Westpac Banking Corporation’s venture capital firm Reinventure earlier this year, Coinbase co-founder Fred Ehrsam announced that the company has set its plans to a potential expansion to Australia, and is currently trying to educate the local regulators on the benefits of bitcoin. Coinbase’s Series C funding round, participated in by Westpac, raised $75 million USD in January 2015, from large financial organizations and venture capital firms including Spanish bank BBVA and Fortune 500 financial services group USAA. This deal marked the first investment of an Australian bank to a Bitcoin company. “We’re very excited to be working with such a great management team and look forward to helping them grow their business,” Simon Cant, co-founder […]

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Spartan Route Offers Invoicing and Bitcoin Payment Service to Greek Businesses

Earlier this week, Greece became the first developed nation ever to default on the International Monetary Fund (IMF). Negotiations with the European Union (EU) and the IMF are stalling, and Greek voters on Sunday rejected new bailout terms. On Monday, Greece closed its banks and imposed capital controls to prevent financial chaos after the breakdown of bailout talks. Banks and ATMs are still working on a very limited basis, which makes things difficult for families and pensioners. For businesses and entrepreneurs who depend on cross-border sales and imported goods or services, the situation couldn’t be worse: They are unable to pay their suppliers abroad because cross-border bank wires are suspended, and the have only limited access to their sales income. […]

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The Blockchain Could Make Existing Securities Industry Players Redundant, Says BNP Paribas Analyst

Writing on Quintessence, the financial magazine of BNP Paribas, financial securities research analyst Johann Palychata analyzes the possible impact and future implications of the blockchain for securities markets. He believes that Bitcoin is really an innovation and a disruptive open-source technology for the financial world. “Its core is the first successful attempt for a secure and decentralized register,” says Palychata. “It should be considered as an invention like the steam or combustion engine. ” BNP Paribas, a French bank headquartered in Paris that was formed through the merger of Banque Nationale de Paris (BNP) and Paribas in 2000, is one of the largest banks in the world. Based on 2012 information BNP Paribas was ranked as the third-largest bank in […]

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Varexit – Greeks Sacrifice Euro Antagonist In Bid To Secure Deal

– Brave Greeks vote overwhelmingly against austerity – Varoufakis resigns to clear air for next phase of negotiations – We think a Greek debt deal is highly likely over the next few days – EU elites had hoped “yes” vote would force the replacement of Syriza with unelected technocratic experts – Syriza may nationalize banks […]

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