Bitcoin in the Words of Intesa Sanpaolo’s Ferdinando Ametrano
The history of monetary system is built on gold. This valuable element has been playing a very important role in the economy since the beginning of time. The first documented usage of gold coins as currency dates back to 600 BC. Gold continued to be the basis of monetary systems until the Bretton Woods System paved way for nominally convertible currencies. Today, none of the world’s currency systems are backed by gold. However, gold by itself continues to hold a fair amount of value. In today’s digital world, we have something which is better than the yellow metal in many ways and it is....
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Bitcoin is providing the world with the opportunity to use private money that is capable of competing with government-backed fiat. The point was taken forward by Prof. Ferdinando Ametrano, who currently teaches Bitcoin and Blockchain technology at the Politecnico di Milano. Speaking to ether.camp at the Blockchain: Money conference in London, Ametrano likened the impact that Bitcoin may have on the future of civilization with that of gold. That’s why he called the cryptocurrency “digital gold.” Distinguishing between Bitcoin and Ethereum. When asked if he distinguishes between Ethereum and....
"It's contingent upon SegWit." Lightning Labs developer Joseph Poon is talking about bitcoin's Lightning Network, the top-layer network that could potentially boost bitcoin's transaction capacity to millions of transactions per second, but the same can be said of most of the other technical improvements for the network presented at Construct 2017, CoinDesk's inaugural San Francisco developer conference. In many presentations, it seemed as if moving forward with the project, a more than $15bn economic network that sprang from only open-source code, is wholly dependent on SegWit.....
Ferdinando Ametrano, a professor at Politecnico di Milano, Italy’s largest tech university, recently criticized the blockchain hype revolving around banks in an interview at the Blockchain Money conference, describing the efforts of banks and financial institutions in creating a blockchain without a native digital currency as nonsensical. Over the past two years, the world’s largest banks and financial institutions have led the development of permissioned blockchain networks and enterprise-grade blockchains for cross-border payments and settlement of asset. Various research firms including....
Italian bitcoin enthusiasts gathered at the Chamber of Deputies, the lower house of the Italian parliament, in Rome on Wednesday with the aim of informing Italian lawmakers about the economic benefits of bitcoin. The 11th June event, organised by bitcoin consultancy Coin Capital, featured participation from parliament member Stefano Quintarelli and Senate Vice President of the Treasury and Finance Committee Francesco Molinari, as well as representatives from Italy's academic and banking sectors. Coin Capital told CoinDesk that the first two hours saw its partners Sebastiano Scròfina and....
The European Securities and Markets Authority has published a number of responses stemming from a request for information on the topic of virtual currency. The ESMA, which regulates securities activity in the European Union, first sought submissions from the finance and digital currency industries in April. The agency published 14 responses from participants such as German megabank Deutsche Bank, Italian banking group Intesa Sanpaolo, regional trade group European Central Securities Depositories Association (ECSDA) and interbank messaging network SWIFT, among others. The submissions offer....