Daily Roundup – June 14, 2017

Daily Roundup – June 14, 2017

According to Bloomberg, Bitcoin is helping marijuana businesses deal with their banking issues. Financial technology startups, such as POSaBIT and SinglePoint, allow marijuana buyers to pay with their credit cards while also giving marijuana shops a solution to the problem of holding too much cash.

In a blog post on Bitmain’s website, the Bitcoin mining company released a contingency plan to react against the possible activation of BIP 148, which is an attempt to implement Segregated Witness by way of a user-activated hard fork. Bitcoin developer Jimmy Song explored the proposal further in a Medium post.

Song also recently proposed as alternative solution to Bitcoin’s scaling debate via another Medium post. In the post, sidechains and drivechains are discussed as possible methods of allowing everyone to get what they want in terms of Bitcoin’s future scaling developments.

Over at Bloomberg Markets, an in-depth, behind the scenes account of last year’s problematic Ethereum smart contract known as The DAO was penned by Matthew Leising.

According to The Register, Bill Shorten, who is the leader of the opposition party in Australia, would like the government to take regulatory action against Bitcoin due to its possible use in funding terrorism in the country. “We need to track and target terrorists as they seek to hide and obscure their financial dealings through electronic currencies like bitcoin,” said Shorten in a speech to the House of Representatives.

Picture from Pixabay.

About The Author

Kyle Torpey

Kyle Torpey is a freelance writer and researcher who has been following Bitcoin since 2011. His work has been featured in VICE Motherboard, Business Insider, NASDAQ, New York Post, The Next Web, American Banker, and other media outlets. You can follow Kyle on Twitter, send him an email, sign up for his daily Bitcoin newsletter, or visit his personal website.

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