OneWallet, the New Auction Site for Bitcoiners

For those still mourning the demise of early bitcoin auction sites like Bitmit, there is a new place to bid for a special deal with your cryptocurrency: OneWallet.io.
Like Internet auction giant eBay, OneWallet has both bidding auctions and direct sales from anyone who wishes to join as a retailer, with 620 product listings in categories including electronics, fashion, health and beauty, and home and garden after only two weeks of public activity.
As the name implies, OneWallet also functions as a digital wallet for users to store their bitcoins, even if they're not spending them on the site. The system automatically generates new wallets for merchant or buyer accounts, though all customers are free to use their existing external ones.
The new site is working in partnership with CoinsForTech.com, an established online electronics retailer that accepts bitcoin, dogecoin and litecoin, and has already processed over $500,000 in orders to 56 countries. It should be noted, however, that OneWallet for the moment accepts only bitcoin.
Both companies have the same founder, Lee Marburg, and are registered in Australia. Sellers are based in several countries so far, but can be anywhere, and generally ship worldwide.

Encouraging bitcoin use

Speaking to CoinDesk, Marburg said he built the site with Bitcoin Brisbane founder Lucas Cullen in their spare time over the past six months. Testing was conducted privately with select customers over the two months before the public launch.
One aim, he said, was to build a beginner-friendly bitcoin wallet and an avenue for people to actually use the digital currency to buy goods and services.
Marburg added:

"The second aim is to push bitcoin as an international trading tool. My experience with CoinsForTech has been hugely positive and I’ve got no doubts that bitcoin/digital currency has a huge role to play in the future of international B2B and B2C commerce. I am associated with some powerful suppliers and merchants who are not overly keen on accepting bitcoin."

OneWallet could entice these reluctant merchants with "a relatively hands-free option to get their feet wet" with bitcoin, he said, while also creating buyer demand for purchasing with bitcoin through low fees and an easy-to-use platform.
The company charges merchants 2% of the final price for every successful listing.

Building in features

Buyers on OneWallet are also protected when purchasing from any merchant with the 'BusinessVerified' badge next to its name. The company investigates any claim pertaining to a purchase from a verified seller and refunds the USD value of the purchase if the claim is successful.

Read more:
http://www.coindesk.com/meet-onewallet-new-auction-site-bitcoiners/

Ecuador’s Centralized National Digital Currency

It was just last month that the small Latin American country of Ecuador banned Bitcoin. The Ecuadorian National Assembly voted to pass a monetary and financial reform law introduced to the Assembly by Ecuador’s President, Rafael Correa. While the outright ban of Bitcoin and other decentralized digital currencies like Bitcoin is news in and of itself, the new sparkly gem of Ecuador’s new stance is their intention to create their own digital currency. Most recently, Ecuador’s e-money presentation, which provides more details on the new Ecuadorian National digital currency has been posted to an Ecuadorian government website. Elsewhere in Latin America, Dominica’s citizens are getting a taste of real digital currency.

CCN

According to Article 99 of Ecuador’s new law, Ecuador’s Financial and Monetary Regulatory Committee is being tasked with regulation of the new digital currency, and the Ecuadorian Central Bank is being charged with its implementation and development. Currently, Ecuador uses the US dollar as its “currency of choice;’ though, history tells us choice has little to do with it in such situations. Article 96 of the same law specifically bans the “emission, production, initiation, falsifications, or any other type of [cryptocurrency] simulation, and its circulation through any channel or way of representation.” More simply put, Article 96 makes illegal the circulation and acceptance of all currencies on the wrong side of the Monetary and Financial Political Regulatory Committee.

President Correa has emphasized that this plan is geared towards helping the 40% of Ecuadorian economy participants that don’t have access to traditional banking provided under the “dollarized” system. Ecuador is creating something, a centralized something, that can be used between cellphones, which should provide utility to those that need it most within Ecuador. The mobile payments industry is a place where Bitcoin has truly shown in recent years. Kipochi and other private companies around the world are doing what Ecuador plans to do, already.

What Will Ecuador’s National Digital Currency Look Like?

Previously, CCN’s Venzen Khaosan has taken an in depth look into what Ecuador’s cryptocurrency, which he coined as “cryptocentavo,” might look like. More recently, the Ecuadorian government has given a presentation that details more information regarding Ecuador’s future digital currency. The most specific point that has now been promised and can lay to rest any speculation is this: Ecuador’s new digital currency won’t be a cryptocurrency.

Nothing Like Bitcoin

As the new digital currency is being created by Ecuador’s Central Bank, it is unlikely that any of the innovations created on the Bitcoin network in the last five years will be seen in Ecuador’s digital currency.

Read more at:

http://www.cryptocoinsnews.com/news/ecuadors-centralized-national-digital-currency/2014/08/30?utm_source=rss&utm_medium=rss&utm_campaign=ecuadors-centralized-national-digital-currency

Also read this:

http://cointelegraph.com/news/112398/ecuadors-first-state-issued-limitless-digital-currency-coming-in-december