Blockchain CEO Nic Gary: Banks Should Include Digital Currencies

New York IdeasThe blockchain CEO Nic Cary participated in a technical discussion entitled “Cash, Credit or Digital: What Happened to My Money?” at the “New York Idea” conference on May 6 with leading figures from the business, finance and technology sectors. The conference was hosted by Aspen Institute and The Atlantic. Besides Cary, Pryor Cashman Partner Jeffrey Alberts and McKinsey & Company Director Philip Bruno took part in the discussion. The discussion was moderated by NPR “Planet Money” correspondent David Kestenbaum.

He believes that the news spy review have a speculative background

The discussion also covered many topics currently being debated in the Bitcoin scene. These included issues such as the news spy review. Are digital currencies the best payment method, how should governments regulate the currency industry and what options do they have to ban the news spy review Bitcoin and other currencies if they choose not to do so?

The most notable comments came from Cary when asked if he would welcome the involvement of traditional banks such as the Bank of America, given the “anti-bank sentiment” within the Bitcoin community.

Cary replied that “he would love for the Bank of America to participate in the Bitcoin industry”. He would very much appreciate it if the company would accept new technologies, as is already happening in other industries:

“I am thinking, for example, of the digitalisation of things: We used to send letters, today we send e-mails, we bought books, today we get them on Amazon.com. Anyone who still thinks that one day the money won’t be digitized is naive.”

Bitcoin or a Bitcoin secret scam

The conversation began with an example from Kestenbaum trying to pay for his breakfast with Bitcoin, but before the recent Bitcoin secret scam. This sparked a debate about Bitcoin secret scam as an everyday means of payment.

Cary described his very own experiences in the daily use of Bitcoin as a means of payment and was promptly interrupted by Bruno. He says that the speculative nature of the Bitcoin can have a negative impact on mass distribution and make it difficult for the Bitcoin to assert itself as a means of payment.

“To get from here to something that has a less speculative aftertaste will be a difficult process.

Alberts looked at the matter from a different angle: “Even if the speculative, deflationary nature makes it difficult for Bitcoin to be recognised as a consolidated currency, that would not be tragic. The Bitcoin could evolve and become a cost-effective alternative for payment providers.

Authorities show interest in Bitcoin
Bruno was the one who fired up the issue of digital currencies the most. This suggests that these institutions are fascinated by the idea of a cheaper payment method.

“Authorities and central banks are looking very closely […] at how payment networks are designed and what they can learn from the technology.

In one key factor, these organisations see particularly great potential. The social impact of technology on people who don’t have a bank account or access to financial services. Bruno also said that the major financial institutions are analysing Bitcoin very carefully, even though they have not yet made an official statement on the technology.

Alberts believes that the growing interest of the authorities is a sign that the industry is developing well. Cary, on the other hand, says that the initial reactions and some restrictions on the part of the authorities clearly show that there is still a great need for clarification.

Bitcoin as the new Internet
Cary gave his best to formulate the anti mood against digital currencies as misguided in the face of global developments. He says that those who continue to vote against digital currencies are “sticking their heads in the sand of the financial future”.

Cary compared the Bitcoin to the e-mail. Even if people don’t understand exactly how it works, they will quickly learn how to use it and benefit from it.

In view of this long-term attractiveness, digital currencies are still a very attractive investment:

“Imagine you had the opportunity to invest in e-mail or Internet technology. That’s what makes an investment interesting these days. ”

Bitcoin Acceptance Made in Germany (Part I): Beekeepers, Lawyers & Gamecards

In our new series “Bitcoin Acceptance Made in Germany” we would like to introduce you to a selection of German companies that have already decided to integrate Bitcoin as their official means of payment.

Trust – a very important term

Unfortunately only the big and international companies like Expedia, Dell & Co made it into the headlines and the small companies often fell by the wayside. But it is precisely these companies that bring Bitcoin to the fore. Whether it’s the corner shop around the corner or the hairdresser I trust. When do I get more curious when some international corporation integrates some new digital currency that I probably have never heard of before, or when my hairdresser just asks me out of nowhere if I don’t want to pay with Bitcoin?

Most Bitcoin-accepting companies in Germany fall into the category of small and medium-sized enterprises. They have already built up a solid customer base and enjoy the privilege of a solid basis of trust. And it is precisely they who can pass on the trust in Bitcoin to their customers. Any marketing or PR activities at the expense of Bitcoin were probably not the main focus here.

On the search for Bitcoin accepting companies in Germany, we were able to find an amazing number of interesting and exotic companies. Some of them perhaps in your neighbourhood? Bitcoin acceptance is often getting closer than you think!

You also know a company that already accepts Bitcoin or already accepts the digital currency itself?

“Today beekeepers have become much easier. You don’t need an extra bee house anymore. Magazine hives, as we use them today, are durable and can also be colorfully designed,” says Roeber.

And that’s exactly how payment methods work today. There is a great variety and one of the simplest payment methods is Bitcoin. The Roeber family has been accepting Bitcoin since 2013 and has received consistently positive feedback since then. M.Roeber is sure that Bitcoin will continue to assert itself in the future:

“I find this innovative and I am convinced that payment processing via virtual currencies will become part of everyday life at some point”.

Who would have thought that Bitcoin in connection with ordinary law is usually only known from some new regulatory proposals. The law firm Schmidt Barg sets completely different standards here and has been accepting the digital currency since 2011.

The Berlin law firm specialises in building law, tenancy law, purchase law, family law and inheritance law. So if you lost your last euro at your last building mistake or your last car purchase, you can pay confidently in Bitcoin.

At MSPoints.de, users can purchase iTunes, Google Play, Nintendo, Xbox, PlayStation credit codes or FinalFantasy XIV, Guildwars2 GameCard codes and pay quickly in Bitcoin.

When asked why Stephan decided to integrate Bitcoin, the former Bitcoin miner promptly replied:

“With Bitcoin, non-payment and fraud are virtually excluded and the fees are very low. In addition, I always keep an eye on new and innovative payment methods.”

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