Bitcoin will turn the attention because of the Wall Street?

Bitcoin will turn the attention because of the Wall Street?

The emerging bitcoin company Xapo recently announced three outstanding financial sector have signed up to become a member of the Advisory committee. The three are former U.S. Treasury Secretary Larry Summers, former Citibank CEO John Reid and Visa founder Hawke dee. The news that Wall Street attaches great importance to bitcoin, which may make that electronic money in the recession people be startled at.

From the end of last year, with bitcoin related news headlines are consistent is not optimistic. Mark Gilbert from bloomberg. He pointed out in December, bitcoin prices have fallen more than 56% since January, defeated the Russian Ruble currency and Ukraine hryvnia currency in 2014 to become the worst performing currency. Quartz fell that bitcoin than crude oil and the ruble fell more serious. At the beginning of this year, the publishing industry has announced that bitcoin has lost confidence. Many writers think of bitcoin on the verge of death or destruction.

About bitcoin news looks like exaggeration. Especially now banks attach great importance to electronic money. The autumn of last year, the two US banks agreed to use Ripple to develop the software of Labs company, and the company’s real-time cross-border payment products is based on the technology of bitcoin. Coinbase is a new company to help people save bitcoin.

January this year, the company said it has received $75 million from investors, investors including the New York stock exchange, BBVA, former Citigroup CEO Vikram Pandita and Thomson Reuters Group CEO Tom Glocer?.

In April this year, Goldman Sachs Group injected $50 million into the emerging bitcoin company Circle Internet Financial. JP Morgan’s former executives Britt Masters pioneered the use of derivatives. In March this year, she became Digital Asset Holding CEO. Digital Asset Holding is a software company, is the digital version of the electronic currency and the currency more commonly used as traditional financial assets to build trade settlement platform.

Xapo founder and CEO Casals said the Sith, not what the landmark event convinced Wall Street executives attention bitcoin. More precisely, in a few years ago bitcoin just got more and more attention, the development of the financial services industry had been tracking bitcoin.

During the Davos Winter Conference, Casals spent many days and many want to know more about bitcoin policymakers, bankers were one of the meeting.” When they first heard of bitcoin think this is a joke, “Casares said. “Now they see it and not die, they want to know how the technology works. This is a gradual process.”

The bank is also in a more rigorous review of environment, and also realize that they can not afford the new risk. Casals will Wall Street bitcoin is divided into different areas of interest. He said that investment in emerging technology companies or cooperate with them to have the chance to develop their own bank and no conditions to develop products. Some institutions to allow both direct trade value instead of the third party authentication technology is very interested in. How to eliminate the other mechanism of this technology is very interested in counterparty risk. Some asset managers have to buy bitcoin as a risk investment portfolio of clients.

Former JP Morgan banker Masters bitcoin as if a technology has to fill in the two fields of speed and safety potential, is also very interested in whether to create faster and more secure transactions. She told the Wall Street journal that her company was not bitcoin as a store of value or another currency or investment.” But bitcoin as a technical progress, it may become an important media exchange and information recording mechanism.”

Her company Digital Asset is building a tool to allow customers to convert securities into digital form, so that they can skip the middleman direct transactions and real-time settlement.

Although bitcoin prices fell last year, bitcoin will collapse suspicions are rampant, but some of the most powerful institutions in the world are keen to learn more about how to make bitcoin for their use of knowledge. Also, their interests may help the bitcoin survive and flourish.

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