A new privacy-centric cryptocurrency project with some big names on board just raised a round worth noting. On Tuesday, the team at MobileCoin announced that Binance Labs, the major blockchain incubator associated with the Binance exchange, led a $30 million round denominated in bitcoin and ether for the new cryptocurrency.
Some of us believe various forms of strong cryptography will cause the power of the state to decline, perhaps even collapse fairly abruptly. We believe the expansion into cyberspace, with secure communications, digital money, anonymity and pseudonymity, and other crypto-mediated interactions, will profoundly change the nature of economies and social interactions.
This week, Bursts was joined by Pat Boyle, a collective member at Unicorn Riot (more about them later in this post), radical independent media project. We chatted about crypto-currency, Bitcoin in particular, technologies and strategies involved in the implementation of crypto-currency, recent comings to light of increased wealth coming via Bitcoin into the hands of far right racists and ecological impacts of crypto-mining.
In 2009 the cryptocurrency Bitcoin was released to the public as open-source software. It was the first decentralized digital currency that works without a central repository or single administrator. The network is peer-to-peer and transactions between users take place through the use of cryptography, without an intermediary. Over the past few weeks Bitcoin and many other cryptocurrencies have seen increased public interest, with one Bitcoin currently worth $11,531USD as of this writing (6:10 pm, EST).