Bitcoin in Brief Tuesday: IOTA Ditched, Bitcoin Taking Over Popular Culture

From hit TV shows to viral ads, the bitcoin revolution is inspiring the creative minds who shape modern pop culture. Two recent examples come from HBO’s Silicon Valley and the Oscar Mayer meat company which created its own “bacon-backed cryptocurrency”. These stories and more are in today’s edition of Bitcoin in Brief.

Also Read: Binance to Invest $15 Million in Bermuda as Crypto Regulations Advance

Bacoin

Oscar Mayer, the meat brand owned by the world’s fifth-largest food and beverage conglomerate Kraft Heinz (NASDAQ: KHC), has announced it launched the “first-ever cryptocurrency backed by bacon.” Fans are invited to “mine” Bacoin by participating in a promotion and pump the value by shilling for it on social media. The company is known for its ads targeting kids, and this publicity stunt showcases how marketers are turning to cryptocurrency hype to tap into a younger demographic.

“Oscar Mayer is the gold standard of bacon because of our dedication to hand-selecting the best cuts and then naturally sugar curing and naturally hardwood smoking our bacon,” said Matt Riezman, brand manager for Oscar Mayer. “Add to that our proven expertise in the bacon-tech space, Bacoin is poised to deliciously revolutionize the cryptocurrency market.”

Silicon Valley to Reality

HBO’s comedy series Silicon Valley, which parodies startup culture, has recently featured bitcoin as part of an episode. A charterer of the show created a price alert that blasts out the death metal song “You Suffer” by Napalm Death when the exchange rate fluctuates. And, of course, someone has now quickly turned that gag into a reality, as The Verge reports.

UCL Dumps IOTA

The blockchain research center at UCL (University College London) has announced it cut all its ties with the IOTA Foundation, the group behind the 11th most valuable cryptocurrency in the world by market cap (MIOTA). The rational for the move was the IOTA team’s repeated threats against critics that reviewed its technology. The Financial Times covered the topic last week, and the bad press must have proven too much for UCL.

The academic institution’s website now reads: “UCL Centre for Blockchain Technologies is no longer associated with the IOTA Foundation. In relation to recent news report, we reaffirm our support for open security research, as a prerequisite for understanding the assurances provided by any blockchain technology. It is inappropriate for security researchers to be subject to threats of legal action for disclosing their results.”

Wikimédia France to Accept Crypto Donations

Wikimédia France, the French branch of the global internet movement, has recently announced it will soon begin accepting donations in cryptocurrencies through a partnership with the Request Network Foundation.

“Blockchain technology has been a hot topic of late, and its adoption is exponential. Its decentralized nature, coupled with its security and transparency, makes it possible for unprecedented applications for NGOs, particularly in the management of donations, both on the part of the donor and the recipient. Thanks to the blockchain, Wikimedia France becomes one of the first organizations that will soon allow its donors to support projects with any digital currency.”

What other developments in the cryptoshpere caught your attention today? Share your thoughts in the comments section below.

Images courtesy of Shutterstock.

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The post Bitcoin in Brief Tuesday: IOTA Ditched, Bitcoin Taking Over Popular Culture appeared first on Bitcoin News.