[2017-10-15] Mint: Bitcoin battle

Bitcoin battle

http://www.livemint.com/Opinion/71mxRz0i9I3lxb3bfIIZyH/Bitcoin-battle.html

On Friday, Jamie Dimon, chairman of JPMorgan Chase and Co., made a scathing appraisal of bitcoin, calling it a tool for criminals and money launderers. On the same day, Christine Lagarde, managing director of the International Monetary Fund (IMF), was far more positive, noting that it was time global financial institutions took cryptocurrencies seriously.

Lagarde is also right in pointing to the disruptive potential of cryptocurrencies. Certainly, there are dodgy operators such as Mavrodi Mundial Moneybox, which has emerged as a financial network driving bitcoin adoption. But there are also heavyweights such as HSBC and Barclays that are working on cryptocurrency projects.