A case could be made that the allure of an egalitarian transactional system started with the launch of bitcoin. It may be further said that the siren song of the distributed ledger continues to play, with fintech investment directed towards development of bitcoin exchanges and wallets, as well as associated sidechain applications and independent blockchain maintaining a steady tempo. The paths for the use of blockchain are indeed varied. But with the wide range of opportunity, there does need to be some direction to derive a discernible tune.
The financial ecosystem needs a centralised authority to ensure accountability and safeguard the interests of stakeholders. If public/private ledger incubator programmes combine speed, operational efficiency and scalability with security and reliability, we may well see a distributed infrastructure replacing centralised systems.
Mercator Advisory Group recognizes value of intrinsic trust embedded in the bitcoin network, and the potential it represents. Like the author of the article, we also recognize there exists the need for oversight and regulation. To read more about our recent insights of cryptocurrencies and its supporting technologies, please see Alternative Currencies: Are Cryptocurrencies Ready for Prime Time?
Overview by Joseph Walent, Senior Analysts, Emerging Technologies at Mercator Advisory Group
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