11 July 2014

Copay: New Bitcoin Payment Platform


Posted by: : Shayne Heffernan Posted on: July 11, 2014

Copay: New Bitcoin Payment Platform




CoPay an open source wallet service, was launched by BiPay, one of the leading payment processing service providers.


The requirement for a brand new wallet service was prompted by the need to create a secure platform to fill-up the security loopholes despite the use of private keys. The knowledge that the lack of such keys has previously led to bitcoin crimes led to the development of this platform.


BitPay’s CoPay will now set the industry standards to secure online payments with the help pf multi-signature as the lead feature.


Cryptocurrency, bitcoins, in the previous week, reported decline in trade on Wednesday. BTC/USD has declined to 1.04% at $6.49 at BitStamp, trading at $618.96 during the US early session of trading. The prices were found to taper down on the range to reach $617.93 and $626.88.


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In an effort to extend the digital or virtual currency reach into the real world, recent Wall Street Journal news indicates that the Bitcoin Foundation has commenced political activism in a bid to develop positive positioning of the virtual currency. The Bitcoin Foundation will not directly become part of the official lobbies but will engage the services of professional group – Thorsen French Advocacy to commence interaction with political decision makers in Washington.


Incidentally, the advocacy group belongs to ex-politicos, two congressmen to be particular. The reach and the background of the lobby-group is likely to allow virtual or digital currency to have wider reach and influence the decision making process. The key factor here is whether third parties with political pull will be able to engage political interest to move the world and the financial systems around to adopt the use of the digital currency.


As bitcoin payment system strengths and gains better performing technical structures such as the CoPay, it is a matter of time before virtual currencies become the norm!





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July 11, 2014 at 06:55AM



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