Business

Let the Crypto Revolution Occur

Again so soon on the subject of blockchain technologies – on October 13, 2015, Fast Company, in a great article by Steven Melendez, headlined the following:

“THE FUTURE OF BITCOIN ISN’T BITCOIN—IT’S BIGGER THAN THAT …
THE SHARED LEDGER TECHNOLOGY, OR BLOCKCHAIN, INTRODUCED IN BITCOIN COULD UPEND THE FINANCIAL INDUSTRY. AND STARTUPS ARE GETTING IN LINE.”

Please see:

http://www.fastcompany.com/3051679/innovation-agents/the-future-of-bitcoin-isnt-bitcoin-its-bigger-than-that

This article features several proof-of-concept cases of blockchain technology being implemented by early adopters. Wall Street itself, at least the one currently familiar to us, is likely to experience being disrupted, although the forward looking players, such as R3 CEV mentioned in my recent Sep 18 blog posts, seem to recognize this and are re-inventing their own position and may just thrive on this disruption. Stay tuned, Bob.

Blockchain technologies get a huge thumbs up

Just last month, in early August I blogged about the business potential for one instance of blockchain technology called Ethereum. On Sep 15, 2015, Business Insider UK reported that R3 CEV, an “Innovation Firm” lead by David Rutter announced that “Nine of the world’s biggest banks on Tuesday threw their weight behind blockchain, the technology that powers bitcoin.” Please see:

http://uk.businessinsider.com/jpmorgan-barclays-and-others-join-r3-on-blockchain-project-2015-9?r=US&IR=T

I had the pleasure of working closely with David Rutter in the late 1980’s developing a trade accounting system for derivates. David is a great guy, smart as can be, and forward looking. Clearly R3 and their partners see the potential of blockchain technologies. I reiterate my comments from August: I believe blockchain technology, properly designed and implemented, can fulfill the promise of a trusted cyber experience. Stay tuned, I’ll be tracking and sharing key progress. Bob.