Lloyd's Report: Bitcoin Will Always Be Risky
Bitcoin's security risk will "never be reduced to zero", according to a report released by insurance market Lloyd's today. The 31-page document, commissioned to assess the risks involved in insuring bitcoin operations, warns that companies will continue to face a "dynamic threat", regardless of their security practices. Garrick Hileman, an economic historian at London School of Economics (LSE) and one of the report's authors, told CoinDesk that while security in the industry is tightening, systemic issues remain: "The improvements we're seeing in many bitcoin risk areas, particularly at....
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More and more Bitcoin businesses are adopting mainstream practices and seeking insurance for their operations. A report by top insurance market operator Lloyd's, published on June 12 and targeted at insurance service providers, highlights the key risk factors for the insurance of Bitcoin operations. Lloyd's, an insurance market located in London, is one of the best-known names in the insurance sector. It operates as a marketplace within which multiple financial backers come together to pool and spread risk. Lloyd's itself does not underwrite insurance business, leaving that to its members.....
The relationship between Lloyd's of London and bitcoin storage service Elliptic Vault broke down just weeks after Elliptic's launch in January, it has emerged. Elliptic Vault was the first insured bitcoin storage service in the world and was widely hailed as a milestone for the industry. The exact details of how the relationship between Lloyd's and Elliptic broke down are unclear, with Elliptic COO Tom Robinson saying his impression was that Lloyd's pulled out "due to the high level of publicity" around the deal. In turn, a Lloyd's spokesperson claimed Elliptic never actually finalised the....
The London based insurance giant, Lloyd's has recently published a report on the risk factor associated with Bitcoin and other digital currencies. The report titled "Bitcoin - Risk factors for insurance" provides a detailed description of different kinds of threats faced by Bitcoin. According to the company, the security risk associated with Bitcoin will never be reduced to zero. The Lloyd's report, authored by multiple experts was specially commissioned to understand and assess the risks associated with insuring Bitcoin based businesses. The report shows that the companies involved in....
Lloyd Blankfein, a former Goldman Sachs CEO who is now the firm’s senior chairman, says his view on cryptocurrency is evolving. “I look at the crypto, and it is happening,” he added.
Goldman Sachs Executive Lloyd Blankfein Says Crypto ‘Is Happening’
Lloyd Blankfein, a former Goldman Sachs CEO who has voiced skepticism about cryptocurrency in the past, said in an interview with CNBC this week that his view on crypto is “evolving.”
Blankfein served as Goldman Sachs’ chairman and chief executive officer from....
Former Goldman Sachs CEO Lloyd Blankfein has offered his view on the future of bitcoin. He said if he were a regulator, he would be “hyperventilating” at the success of bitcoin right now and he would be arming himself to deal with it. Lloyd Blankfein Shares His View on the Future of Bitcoin Former Goldman Sachs CEO Lloyd Blankfein discussed bitcoin on CNBC Monday. He was asked about how he sees the future of bitcoin and other cryptocurrencies considering that BTC appears to be going mainstream as big firms are now getting involved. “It could work,” Blankfein....