[2016-06-14] Mint: Understanding bitcoins and blockchain

[polynesia]

Understanding bitcoins and blockchain

http://www.livemint.com/Opinion/w7t2USNQs5Yh7WPPf9wxLP/Understanding-bitcoins-and-blockchain.html

I was asked by a senior banker last week what bitcoin and blockchain were. I had been hoping to ask him the same question! If bankers are unaware of the implications of this technology, then ordinary mortals like us must be far behind. The technology is very new and is still underfunded because few understand what it means. According to The Wall Street Journal and research firms familiar with venture capital (VC) funding, only about 2-3% of the total new VC funding of about $20 billion in financial services goes to blockchain.