Sharing Ideas that Do Good


Search by topic:


Is cryptocurrency now legitimate (not just for the criminal groups?)

post-image

We've all seen the ransomware headlines - not a day goes by that a threat actor group doesn't post a cryptocurrency ransom following successful deployment of malware to a business' networks.

But is the currency finally now mainstream? Recently CBA in Australia, started accepting and managing cryptocurrency (it struck strategic commercial relationships with regulated crypto exchanges and custodians).

Visa is working through its Circle partnership to offer the currency, and Paypal is now live with Bitcoin, Bitcoin Cash, Ethereum, and Litecoin.

Could we see regulators move to tighten the use and flow of the currency further?

https://economictimes.indiatimes.com/news/international/business/paypal-inches-up-on-enabling-crypto-payments-for-shopping/articleshow/87800822.cms



What do you think?


You must be logged in to post a comment.
Comments
Anthony Passe-de Silva @ 2021.11.29 1:22 PM
Blockchain offers amazing opportunities to materially improve myriad industries including financial services (e.g. cross border payments, trade finance). However, it remains a key issue that non-regulated blockchains do not meet the AML-CTF, tax and other transparency requirements needed by government to genuinely legitimise these private coins. Either they systems need to provide this or governments will be inclined to corale these systems (e.g. Central Bank Stable Coins). There remains a place for those who can use the tech well and that's where I believe blockchain can offer something more.

IdeaSpies @ 2021.11.29 1:22 PM
Good points Anthony!

IdeaSpies @ 2022.05.21 1:22 PM

"In contrast to stocks, bonds and property, the existential risk for cryptocurrencies is that it is impossible to value assets that have no intrinsic worth. The crypto Ponzi relies on the greater fool theory: with no income-generating capacity and de minimis practical uses aside from money laundering and tax evasion, bitcoin is worth more than $0 only if you can convince another person that it will one day trade at a higher value. Hence, the hyperbolic crypto-to-the-moon memes".

https://www.afr.com/wealth/personal-finance/could-bitcoin-fall-below-us10-000-20220517-p5am5b?



Related Posts

FinTech

post-image

Pause Awards Highlights Gender Pay-gap With Discounts For Female Founders
8 March 2024 by Ben Ford 0 Comments
 

FinTech

post-image

Inaam impact investing is a fintech app putting people and planet first
25 February 2024 by Jennifer Harr... 1 Comments
 

FinTech

post-image

RegenX is a fintech gateway to greener investments
18 February 2024 by Jennifer Harr... 1 Comments

Why support us financially?

"Great ideas, research and innovation can come from anyone – so often the best ideas do not have a voice. IdeaSpies provides a platform for people to share ideas that create a better world"
David Thodey AO, Patron