Crypto Currencies: New Era or Black Swan?

Black Swan Thinking
Knowledge Center

 

Next Topic

Black Swan Thinking > Forum > Crypto Currencies: New Era or Black Swan?

Crypto Currencies: New Era or Black Swan?
shobha H, Student (Other), United Kingdom, Member
Should the rise of crypto currencies (e.g. Bitcoin) be considered as a new economic era or as a potential Black Swan?
 

 
It's the Blockchain that Alters Business
Bernhard Keim, Business Consultant, Germany, Premium Member
Bitcoin is only an early adoption of a blockchain protocol. Blockchain protocols will alter the way we will do business in some significant ways. The main advantage of cyber currencies is that you do not need an intermediary (like a bank) anymore to process payments. With cyber currencies (CC) everyone becomes his own bank. With one click, money can be transferred from A to B. Example: Right now there are up to 40 intermediaries to forward and secure payments abroad. This takes time and costs money. With CCs this will change. Payment becomes an instantaneous matter.
The lack of current CCs is that many of them are just hot air. There is no true intrinsic value. Most are not backed by real assets, and the ones who claim to be backed are not regulated. This will change.
You can expect that ECB or FED start to issue Euros or Dollars on a blockchain basis in a couple of years. When this happens, the current payment business models of commercial banks will pass a fundamental change. Are they prepared?
 

     
Special Interest Group Leader
Jos Nieland
Teacher

Black Swan Thinking
Summary
Forum
Best Practices


Black Swan Thinking
Knowledge Center

 

Next Topic



About 12manage | Advertising | Link to us / Cite us | Privacy | Suggestions | Terms of Service
2019 12manage - The Executive Fast Track. V15.1 - Last updated: 22-8-2019. All names of their owners.