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"In another sign that Wall Street sees potential in Bitcoin technology, Visa, Nasdaq, Citi and other industry players invested $30 million in Chain.com, a blockchain developer platform that serves an enterprise market.
Additional investors include Capital One, Fiserv and French telecom Orange, the last of which hints at the potential for the blockchain to power mobile payments. The company also announced that former American Express CEO Jim Robinson III has joined Chain.com’s Board of Directors."
I'm not into Bitcoin, but it would appear that major players are looking at the technology itself. I do believe that we're going to be in a cashless society within the next decade. Trying to invest in what I call the "rails of money" (or logistics of money) I think is something that is appealing whatever happens. Fiserv technology processes 50% of all ACH transactions. Over a trillion dollars moves through Fiserv solutions annually.
The infamous woman who came up with the credit default swap is now working on Bitcoin's technology.
Any currency is about trust. That's all it is. You trust the dollar because you trust the government. You trust Bitcoin because you trust those who formed it.
Any dollars you own are largely virtual. Bitcoin you purchase from those dollars. It is just a representation. Anyone can make up their own currency backed by something.
Comments
"In another sign that Wall Street sees potential in Bitcoin technology, Visa, Nasdaq, Citi and other industry players invested $30 million in Chain.com, a blockchain developer platform that serves an enterprise market.
Additional investors include Capital One, Fiserv and French telecom Orange, the last of which hints at the potential for the blockchain to power mobile payments. The company also announced that former American Express CEO Jim Robinson III has joined Chain.com’s Board of Directors."
I'm not into Bitcoin, but it would appear that major players are looking at the technology itself. I do believe that we're going to be in a cashless society within the next decade. Trying to invest in what I call the "rails of money" (or logistics of money) I think is something that is appealing whatever happens. Fiserv technology processes 50% of all ACH transactions. Over a trillion dollars moves through Fiserv solutions annually.
The infamous woman who came up with the credit default swap is now working on Bitcoin's technology.
http://www.bloomberg.com/news/features/2015-09-01/blythe-masters-tells-banks-the-blockchain-changes-everything
Long V, MA, ICE (which - like Nasdaq - has invested in bitcoin tech and provides the NYSE Bitcoin Index - look up NYXBT), FISV.
Any dollars you own are largely virtual. Bitcoin you purchase from those dollars. It is just a representation. Anyone can make up their own currency backed by something.
Wonder if Bitcoins are traceable.