Given that Bitcoin transactions are touted as being non-revisble, is it likely to be a big hurdle for large financial institutions to get on board with Bitcoin?
i.e. if a bank staff member transfers all the bank's bitcoin into the staff's private wallet and the transaction is in no way reverisble, the bank would be up s&*t creek. They could fire the employee and maybe the government in their country could put them away in gaol (jail) for the theft but the bank probably wouldn't get their money back.
Is this a barrier to entry for large financial institutions from getting involved with Bitcoin or just technical step that can be solved?
Thanks and kind regards,
Pat
It sure is.
And larger than that is the anonymous nature of bitcoins and the way block-chain works.
It's nearly impossible to track how the coin move and between whom.
This way government can not take tax on it.