[2016-09-16] Bankers steal virtual cash from the kids

[hendra147]

This is part of a POLITICO special report on FinTech: The future of new finance.

Besuited central bankers are about to crash the cool kids’ digital currencies party.

Originally conceived as a libertarian alternative to government-controlled money, e-currencies are now firmly on the radar of the old-school masters of monetary policy. The Bank of England, the U.S. Federal Reserve, the Dutch central bank and the Royal Canadian Mint are just a few of the institutions that are taking a closer look at internet-based rivals to traditional forms of currency.

But efforts to put an official stamp on digital money are irking the small but vocal band of purists who embraced so-called cryptocurrencies precisely because “there is no central authority to issue them,” as stated in the founding document of bitcoin, the most famous e-currency.


http://www.politico.eu/article/government-vs-virtual-cash/

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[Kprawn]

The banks and governments have always been in bed together... The banks will influence politicians and the politicians will make sure all

public Blockchains will struggle. They will over regulate public crypto currencies, and pave the way for all of these private Blockchain

type technologies, because they can control and manipulate it. This will start to happen soon.. so prepare yourself. 

[cr1776]

Pretty much if it is centralized, you might as well just have a database and name it "block_chain" and avoid all the hassles.  Then you can say "I am using block chain technology" and roll it out instantly.   They miss the point that the shared, distributed ledger is only as good as the fact that anyone, anywhere, anytime can verify its authenticity and that it is backed by the value of the infrastructure and ecosystem behind it.