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Bitcoin: Changing How Banks Do Business

Thursday, March 12, 2015   (0 Comments)
Posted by: Mike Rose

In a recent article, Sander Duivestein, professional speaker and trendwatcher at VINT, looked at the growth of bitcoin and how banks might be changing their views on the digital currency.

Duivestein noted that bitcoin startups raised $347.29 million in 2014—up from just $2.13 million two years earlier. And through February of this year, $105.84 million has already been invested.

This could be a "Napster moment" for banks, Duivestein said, comparing the rise of bitcoin to the rise of the music downloading platform that challenged the traditional entertainment industry.

Duivestein noted that while financial leaders were initially dismissive of bitcoin, they are now beginning to take notice, calling the phenomenon "Digital Darwinism"—meaning banks must either adapt to the new technology or lose relevancy. 

Click here to read the entire article.

Click here to see more NAPCP resources related to bitcoin.

Source: The Next Web

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