Talking Bitcoin: Financial Shortcomings or Financial Success?
In late 1999, the online consumer fashion website Boo.com launched on the world wide web. Hampered by problems such as a bandwidth-heavy site trying to strike it big when internet-users had dial-up modems, exclusion of Mac users in general, and poor customer service, the website was liquidated by May 2000. So how much venture capital did the company blow through in that 6 month period? $188 million. Splurging on this level was achieved as the owners of Boo.com traveled by Concorde, indulged in expensive London offices, and employed over 300 staffers. Add the shortcomings of the website,....
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Seven months ago, the Bitcoin Foundation formed the Committee for Financial Inclusion. Andreas Antonopoulos was to head it, and things looked promising for a while. Since then, however, Antonopoulos has stepped down, following concerns about the foundation's management. "No one stepped up as a replacement," said one senior executive at the foundation. Another confirmed that the Committee for Financial Inclusion was on hold for now. In the meantime, most of the industry development around bitcoin - this levelling force that has so much potential for the unbanked - still seems to be run by a....
Many people see Bitcoin as just another way to send digital payments while it is about so much more than just money or even the financial aspect of Bitcoin and its technology. The main ideology of Bitcoin is to create an independent and equal financial infrastructure for everyone on this planet, especially those with no access to bank accounts. Bitcoin – Financial Equality For All. The financial aspect of Bitcoin is taking the center stage in most of the discussions, as its the only aspect people enjoy talking about. But Bitcoin wouldn’t be so interesting were it not for its underlying....
It is not a secret that most of the existing cryptocurrencies have plenty of shortcomings preventing them from being used as the absolute replacement to traditional financial instruments and legacy systems that manage these instruments. However, that is bound to change as blockchain technology is relatively new and continues to evolve through updates to existing […]
Chris Skinner is a banking and technology veteran who serves as the chairman of the Financial Services Club, a group created in 2004 to address the future of companies that serve financial markets. I'm often asked how quickly the changes I outline will take place, and my answer is between 10 and 20 years. The building of the real-time, almost free financial network on the Internet using blockchain and mobile will take about a decade at least before it becomes mainstream. "Oh," some go. "That's a way off. Can we talk about something happening sooner?" That's an interesting reaction, as....
Iceland’s Pirate Party was the subject of several news bulletins regarding its run in last Saturday’s elections. Granted the party achieved major success, members of the group would make up nearly a third of the parliamentary seats. The elections have come and gone, and while many consider the Pirate Party to be the subject of shortcomings, the organization has still managed to achieve success in an otherwise biased election. The Pirates have earned a total of 14.5 percent of parliamentary control. This brings their number of seats from three to ten. It’s not exactly what members had been....