The Lessons the Banking System Has to Learn From Bitcoin
It seems like "bank grade security" doesn't really live up to its name. It was recently reported that the FBI offered a $3M reward for the suspected masterminds behind the GameOver Zeus botnet; a botnet that stole over $100M by acquiring the banking credentials of it's victims. Another report recently revealed that up to $1 billion were stolen from 100 banks in 2013. Is an all-out cyber war on banks incoming? We saw Ben Lawsky pointing out how dangerous cyber criminals can be for banks in a speech he gave at Columbia Law School. "We are concerned that within the next decade, or perhaps....
Related News
Leading crypto exchange Phemex has announced a new initiative called Learn and Earn. This educational program has the objective of rewarding users to learn about crypto and its underlying technology. Divided into several courses with different lessons in video formats, users will learn fundamental concepts related to this industry and this new asset class. Users […]
Cardano Founder Charles Hoskinson shared his damning thoughts on the legacy financial system, concluding that cryptocurrency will take over because it offers a better way. The Banking System Brought This On Itself Much is said about the enmity between cryptocurrency and banking. While the banking system towers above cryptocurrency in terms of both capitalization and […]
What can we learn from the 18th century in regards to governance and power when designing a future built on Bitcoin?
The current lull in the price of bitcoin is an opportunity to reflect on lessons learned during these experiences.
CZ took to Twitter on Nov. 8 sharing "two big lessons" that crypto companies should learn amid the downfall of crypto exchange FTX. Binance CEO Changpeng “CZ” Zhao has shared his take on "two big lessons" to be learned from the FTX saga, saying cryptocurrency firms shouldn’t use their own tokens as collateral and should also keep “large reserves.”In a Nov. 8 tweet, Zhao laid out two learnings after the significant “liquidity crunch” at FTX which has ultimately resulted in a non-binding letter of intent from Binance to acquire the struggling exchange.Two big lessons: 1: Never use a token....