Sunday, March 18, 2018

Headline of the Day: Bitcoin a serious threat, not! -- And -- Blockchain itself, however, is another proposition altogether.

From day-one, when anyone asked me how I felt about bitcoin I'd reply, "I absolutely love the concept, but fuggetaboutit if you think it's going to take over the world. I mean, imagine the threat to the global monetary system. The powers that be will have nothing of it, I promise."
Growth of Crypto-Assets May Threaten Financial System, FSB Says
(Bloomberg) -- The rapid evolution of crypto-assets such as Bitcoin may one day make them a threat to the financial system, Mark Carney, chairman of the Financial Stability Board, said in a letter to Group of 20 finance leaders. “Wider use and greater interconnectedness could, if it occurred without material improvements in conduct, market integrity and cyber resilience, pose financial stability risks through confidence effects,” Carney wrote. 
The technology underneath cryptocurrencies -- blockchain -- however, is another proposition altogether! 

Here's from International Data Corporation's (IDC) whitepaper on the emergence of blockchain (download it here):
Across industries, companies are investing in blockchain to improve data quality and timeliness, conduct business-to-business (B2B) transactions, improve data security, and provide distributed access to data that serves as "one version of the truth."

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