For a business to remain relevant, it must keep up with the latest technology and tools. As we enter the so-called era of 'fintech' (financial technology), the finances of your businesses must be reviewed as well.
Outspeak caught up with two cryptocurrency experts, Ethereum co-founder Taylor Gerring and crypto commentator David Seaman, to get their thoughts on the evolution of cryptocurrency, and what comes next.
Bitcoin has prompted many people to expect a revolution in the means by which we make and settle everyday payments. Our view is that Bitcoin and other "virtual currency schemes" (VCS) lack critical features of money, so their use is likely to remain very limited.
If you know what Bitcoin is and have been following its development, you've probably heard the news. Stock exchanges have begun to take bitcoins seriously. This looks like a breakthrough, especially considering the fact that the NYSE now uses Bitcoin-like mechanisms when issuing securities.
The notion of national currencies and fiat money is central to modern economies and government financing. I can't see a world in the foreseeable future, where sovereign nation states give up the control over what currency must be used for conducting its business.
The general acceptance of Bitcoin could have profound consequences, leading to a more egalitarian distribution of wealth and a more stable society. But in order for that to happen, there are two important things we must do.