While most people know BitFury as a company involved in mining Bitcoin, it is also an active investor in blockchain technology. The company recently made a key investment in REGA, a firm specializing in insurance products on the blockchain. It’s a rather surprising turn of events, even though BitFury sees merit in the “crowdsurance” business model. Bringing Insurance Products to the Blockchain It is always interesting to see how different projects apply blockchain technology. While the potential of this technology has yet to be fully unlocked, there are quite a few use cases worth exploring. In the case of REGA, the company focuses on a conceptPowered by WPeMatico
Canada appears poised to become a new global hub for bitcoin miners. Already known to be attracting Chinese miners diversifying away from their home market with its cheap hydro-power electricity and cold climate, the country’s latest draw is easy access to capital. Firms such as Hut 8 are set to tap its welcoming market for […]
Most cryptocurrency users know that BitFury is working on a blockchain analysis tool. Until now, we never heard much about this project, other than how it helped identify a few hundred Bitcoin users with relative ease. In a recent blog post, the company explained that its new service will be known as Crystal. It is a blockchain investigative tool for law enforcement and financial institutions alike. Tools like these will only force more users to look at privacy-oriented coins rather than public currencies. Crystal is a Game Changer for Bitcoin It is neither the first nor the last time someone will create
Bitcoin transaction analysis has become an interesting topic of debate over the past few months. Although most governments claim Bitcoin to be anonymous, most people know that is anything but the case. Bitcoin lacks privacy, anonymity, and fungibility. BitFury Group has come up with a new way to analyze related Bitcoin addresses. Whether or not it will bring criminal activity to an end remains to be seen. Tracking Down Criminals Using Bitcoin If there is one major downside to the use of Bitcoin, it is that it will always be associated with criminal activity. Although it is true that the darknet adoption