Bitcoin is not going to make it as a currency (hopefully). It would be a terrible currency that could track all transactions. But the blockchain technology associated with Bitcoin has some very powerful and intriguing potentials.
The establishment gets this. That's why JPMorganChase mover and shaker Blythe Masters left the bank to become CEO of Digital Asset Holdings, a start-up "technology company that uses distributed ledgers to effectuate financial settlement of both digital and mainstream financial assets in a cryptographically secure environment where counterparty risk is minimized, and settlement times are drastically reduced."
Below she discuses the blockchain.
-RW
(ht Nick Badalamenti)
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