The former CIO of Nike is joining a bitcoin startup

[redsn0w]

The company, founded in the last six months, transfers deposits of the digital currency bitcoin into other currencies and allows customers to send and receive money anywhere in the world for very low fees. A promo video calls Bitreserve “a next-generation money service built on top of bitcoin,” but goes on to describe the volatility of bitcoin, and says that Bitreserve, “solves bitcoin’s volatility problem by enabling you to hold bitcoin denominated as stable, real-world value.” The site currently offers eight currencies: dollar; euro; pound; franc; yen; yuan; rupee; and peso. It also offers commodities—for now, the metals gold, silver, platinum and palladium.
....
To be sure, Nike, the country’s leading sports apparel giant, and Bitreserve, a digital currency startup that is less than a year old, couldn’t be more different. And Minor acknowledges, “There appears to be some sort of implied suspicion around [bitcoin] and around anyone doing anything new with money in the U.S. That doesn’t exist in the rest of the world. There’s a desperate need in the U.S. to change the attitude toward new financial systems.” Watson knows the perception that some have of digital currency, and it doesn’t concern him. “I’ll be surprised if bitcoin is here in five years,” he said. “It’s a means to an end. The value of bitcoin isn’t the currency, but the technology. I think once the world becomes more accustomed and attuned to the platform of bitcoin, the noise will go away, and the currency will go away too. The real transformation is the idea of taking all barriers down and having it be ubiquitous. Whatever currency or commodity you want to transact in, you can, and you can do it for free. That’s pretty revolutionary.”

http://fortune.com/2015/04/06/nike-cio-bitcoin/

Is this real?

[1714012136]

1714012136

[Jeremycoin]

Nike? You mean Nike the Sportswear Factory?

[Alley]

Bitreserve doesn't look like anything impressive to me.  It also holds your dollar value so when btc goes to the moon I guess they get the profit and your left with the original amount in fiat.

[thejaytiesto]

Nike? You mean Nike the Sportswear Factory?

Yeah it's Nike the world famous sportswear brand, and he is talking about the former CIO, so Nike is not directly involved with Bitcoin (yet).

[fdylstyx]

It's all about the tech. Not the money. Yeah right.

Just Do It already!

[hua_hui]

It's all about the tech. Not the money. Yeah right.

Just Do It already!

but the technology should bring benefit to the ppl and has practical application in our daily life otherwise it will be useless. I am sure Bitcoin meets these requirement.

[Undermood]

“It’s a means to an end. The value of bitcoin isn’t the currency, but the technology. I think once the world becomes more accustomed and attuned to the platform of bitcoin, the noise will go away, and the currency will go away too. The real transformation is the idea of taking all barriers down and having it be ubiquitous. Whatever currency or commodity you want to transact in, you can, and you can do it for free. That’s pretty revolutionary.”

I believe it will come true. It is like the infant stage of internet.

[gagalady]

Bitcoin bank? Are we not our own bank anymore

[Karartma1]

Bitcoin bank? Are we not our own bank anymore

Actually it says startup in the article, not bank. I don't know why OP wrote bank in subject.

The former CIO of Nike is joining a bitcoin startup

He will work for Bitreserve, you can check their site here: https://bitreserve.org

The company, founded in the last six months, transfers deposits of the digital currency bitcoin into other currencies and allows customers to send and receive money anywhere in the world for very low fees. A promo video calls Bitreserve “a next-generation money service built on top of bitcoin,” but goes on to describe the volatility of bitcoin, and says that Bitreserve, “solves bitcoin’s volatility problem by enabling you to hold bitcoin denominated as stable, real-world value.” The site currently offers eight currencies: dollar; euro; pound; franc; yen; yuan; rupee; and peso. It also offers commodities—for now, the metals gold, silver, platinum and palladium.

[H.W.Z]

Bitcoin bank? Are we not our own bank anymore

It means you hand over your bitcoin to third party and you lost the control of the private key. This third party is just startup, no more than six months old. I think no one will trust it. As a bitcoiner, we believe the potential of it.

[Bit_Happy]

Will the dirt-poor workers in Nike sweatshops be able to afford to use the bank?
// Perhaps they improved the last ~20 years?

[Miracal]

The former CIO of Nike is joining a bitcoin bank

I don't think it will have any positive impact on Bitcoin's price. There are a lot of such kind of news, such as previous governemnt officials joins bitcoin foundation etc. PPl are numb at them.

[Ron~Popeil]

He needs to do his homework if he thinks bitcoin will be gone in five years. The idea is a good one but alienating the bitcoin community right off the bat is not such a good idea. Maybe a company that truly understands bitcoin can arise to compete with them.

[umairsaleem]

Are you trying to convince people that Nike is aceepcting Bitcoin?
I expect a day when people are talking news like this: a former Bitcoiner is joining Nike or something like that, the day when we can stop licking others ass.

[Bit_Happy]

“It’s a means to an end. The value of bitcoin isn’t the currency, but the technology. I think once the world becomes more accustomed and attuned to the platform of bitcoin, the noise will go away, and the currency will go away too. The real transformation is the idea of taking all barriers down and having it be ubiquitous. Whatever currency or commodity you want to transact in, you can, and you can do it for free. That’s pretty revolutionary.”

I believe it will come true. It is like the infant stage of internet.

For me it's even more exciting than "the infant stage of internet". This time we have dramatically advanced technology and even more quality opportunities than 20 years ago.

[ticoti]

“It’s a means to an end. The value of bitcoin isn’t the currency, but the technology. I think once the world becomes more accustomed and attuned to the platform of bitcoin, the noise will go away, and the currency will go away too. The real transformation is the idea of taking all barriers down and having it be ubiquitous. Whatever currency or commodity you want to transact in, you can, and you can do it for free. That’s pretty revolutionary.”

I believe it will come true. It is like the infant stage of internet.

so he doesn't believe in bitcoin, only in the technology and he is going to work for an enterprise related to bitcoin, is not that an incongruence?

[Bit_Happy]

“It’s a means to an end. The value of bitcoin isn’t the currency, but the technology. I think once the world becomes more accustomed and attuned to the platform of bitcoin, the noise will go away, and the currency will go away too. The real transformation is the idea of taking all barriers down and having it be ubiquitous. Whatever currency or commodity you want to transact in, you can, and you can do it for free. That’s pretty revolutionary.”

I believe it will come true. It is like the infant stage of internet.

so he doesn't believe in bitcoin, only in the technology and he is going to work for an enterprise related to bitcoin, is not that an incongruence?

...and (he) says that Bitreserve, “solves bitcoin’s volatility problem by enabling you to hold bitcoin denominated as stable, real-world value.”
Bitreserve seems to be marketing to people who believe 'real-world value' doesn't include Bitcoin. It's an odd approach since they are selling the idea of holding Bitcoins.

[BitcoinNewbie15]

Nice to see someone part of a big name company stepping into the bitcoin world i wonder if he holds/will purchase any bitcoins?

[redsn0w]

Bitcoin bank? Are we not our own bank anymore

Actually it says startup in the article, not bank. I don't know why OP wrote bank in subject.

The former CIO of Nike is joining a bitcoin startup

He will work for Bitreserve, you can check their site here: https://bitreserve.org

The company, founded in the last six months, transfers deposits of the digital currency bitcoin into other currencies and allows customers to send and receive money anywhere in the world for very low fees. A promo video calls Bitreserve “a next-generation money service built on top of bitcoin,” but goes on to describe the volatility of bitcoin, and says that Bitreserve, “solves bitcoin’s volatility problem by enabling you to hold bitcoin denominated as stable, real-world value.” The site currently offers eight currencies: dollar; euro; pound; franc; yen; yuan; rupee; and peso. It also offers commodities—for now, the metals gold, silver, platinum and palladium.

Fixed, I have only copied the title of that article (after they also changed it). However I think that it is another positive news for the bitcoin eco-system, every day a little improvement (well done bitcoin!).

[Bitcoinpro]

Bitreserve doesn't look like anything impressive to me.  It also holds your dollar value so when btc goes to the moon I guess they get the profit and your left with the original amount in fiat.

or nothing