Bitcoin Revolution The Next Internet, Says Bank Of England

The arrival of electronic currencies could revolutionise the way Britons pay for goods and services, in much the same way as the internet shook up how we access information, the Bank of England has said.

Cashless forms of payment like the cryptocurrency Bitcoin “potentially combined with mobile technology, may reshape the mechanisms for making secure payments”, the central bank said.

While traditional currencies, including the pound, are backed by central banks, new alternatives have allowed individuals to exchange directly without any such third party.

The Bank could itself create digital currencies, making the new system available as it does with banknotes today. Research would be necessary to develop the technology “without compromising a central bank’s ability to control its currency and secure the system against systemic attack”, the Bank said.

The idea of countries launching their own electronic currencies has gained pace in recent weeks, as Yanis Varoufakis became Greece’s newest finance minister. The Greek-born economist has previously suggested that “the technology of Bitcoin, if suitably adapted, can be employed profitably in the eurozone as a weapon against deflation”….

By Peter Spence – The Telegraph –

[ONLY WAY Editor: Check out our “WAMPUM” cryptocurrency page]

An Electrifying Church Service

What the church world is coming to:

    2015 Church Service

PASTOR: “Praise the Lord!”

CONGREGATION: “Hallelujah!”

PASTOR: “Will everyone please turn on their tablet, PC, iPad, smart phone, and Kindle Bibles to 1 Corinthians, 13:13.

And please switch on your Bluetooth to download the sermon.”

P-a-u-s-e……

“Now, Let us pray committing this week into God’s hands.

Open your Apps, BBM, Twitter and Facebook, and chat with God”

S-i-l-e-n-c-e

“As we take our Sunday tithes and offerings, please have your credit and debit cards ready.”

“You can log on to the church Wi-Fi using the password ‘Lord909887.’

The ushers will circulate mobile card swipe machines among the worshipers:

a. Those who prefer to make electronic fund transfers are directed to computers and laptops at the rear of the church.

b. Those who prefer to use iPads can open them.

c. Those who prefer telephone banking, take out your cell phones to transfer your contributions to the church account.

The holy atmosphere of the Church becomes truly electrified as ALL the smart phones, iPads, PCs and laptops beep and flicker!

Final Blessing and Closing Announcements.

a. This week’s ministry cell meetings will be held on the various Facebook group pages where the usual group chatting takes place. Please log in and don’t miss out.

b. Thursday’s Bible study will be held live on Skype at 1900hrs GMT. Please don’t miss out.

c. You can follow your Pastor on Twitter this weekend for counselling and prayers.

God bless and have a nice day.

And Jesus wept…..

By Robert McCurry –

Biometric Tipping Point: USAA Uses Face, Voice Recognition

USAA is letting its members log in to mobile banking in the blink of an eye — literally.

The San Antonio financial services company has rolled out facial recognition technology across its entire membership base that lets them access its mobile app with a tap of their smartphone camera and a blink when prompted (to prove they’re a live person and not a photo). USAA is also giving members the option of logging in with a spoken phrase.

This makes USAA the first major U.S. financial institution to deploy a full-scale rollout of voice and facial recognition. In an industry that has tried and failed to make biometric identification work for 50 years, USAA’s efforts could be a significant turning point.

One key reason why is the immense popularity of the smartphone. Smartphone cameras let users employ their own hardware to capture their facial characteristics. Device identity also provides assurance that the smartphone belongs to the right customer.

“The ubiquitous adoption of the smartphone has altered the market — you no longer need kiosks or readers, the smartphone is a multifactor edge device” for biometric authentication, said Tom Grissen, CEO of Daon, the Fairfax, Va. software company that developed the biometric technology with USAA (Daon is working on similar projects with several large banks).

Decades of improvements in voice and facial recognition are also helping reduce false negatives and friction — facial recognition takes two seconds. And a growing exasperation with forgotten, lost or stolen passwords may drive people toward face- or voice-based logins.

“Four out of five end customers who have experienced the technology prefer it over a PIN or password,” Grissen said.

By Penny Crosman – American Banker –