Another busy week for the Bitcoin ecosystem kicked off with debate over the definition of Bitcoin in a court in Washington D.C.
Larry Dean Harmon, of the Helix exchange, attempted to convince a judge that Bitcoin was not money. However, the Chief Judge in the case was keen to point out that Bitcoin shared the necessary properties of money, which he described as “a medium of exchange, a method of payment, and a store of value.”
The ruling echoes the view of Bitcoin founder Dr. Craig Wright, who said that Bitcoin as a cash system was both money and property. The developments come as payments giant Visa is reported to be moving closer to digital currency payments, according to a blog post published by the company.
Meanwhile, the fight against COVID-19 has seen the U.S. Department of Health and Human Services (HHS) turn to a range of technologies for HHS Project, a project for combining and authenticating data related to the outbreak. Notably, this includes blockchain systems, which are being used to track findings and data from clinical trials.
According to reports, the HHS is using similar blockchain technology to the Hyperledger system, though the specific nature of the technology in use has yet to be disclosed. However, several technical experts have pointed out that Hyperledger is not a blockchain technology, but a private database unlike BSV which is a public blockchain.
In yet another example of BSV working at the heart of new applications and technologies in commercial settings, Vancouver-based Blockchain Intelligence Group has announced it has added BSV support to two of its main services, BitRank Verified and Qlue. BitRank Verified provides risk scoring for wallets, addresses and transactions, while Qlue allows for due diligence on blockchain security.
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