Topic: [2016-08-29] Sorry Blockchain, Any Joe Schmoe Shouldn’t Be Able to Start a Bank (Read 284 times)
August 29, 2016, 03:20:54 AM
Well, I totally agree with that article. Laws have to be in place to protect investors from losing money, exchanges should be insured so that if they get hacked, customers can have their money refunded in a short time and not wait for years a.k.a MtGox.
August 29, 2016, 01:37:30 AM
For years, tech startups sprung up on a daily basis, "revolutionizing" messaging, photo sharing, taxis, damn near everything. Dominant providers were swapped out for new intermediaries who took a cut, new underdogs turned into the new winners.
Even bitcoin, a payment service meant to remove third parties from online transactions, fell into the trap whereby too many startups emerged all focusing on the same thing. In their hurry to build a buzzword-based product investors could throw money at, they missed that they were becoming the new intermediaries they meant to erase.
Read more here
http://www.coindesk.com/sorry-blockchain-any-joe-schmoe-shouldnt-be-able-to-start-a-bank/
Even bitcoin, a payment service meant to remove third parties from online transactions, fell into the trap whereby too many startups emerged all focusing on the same thing. In their hurry to build a buzzword-based product investors could throw money at, they missed that they were becoming the new intermediaries they meant to erase.
Read more here
http://www.coindesk.com/sorry-blockchain-any-joe-schmoe-shouldnt-be-able-to-start-a-bank/
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