William Essex
William Essex

Where’s the B? Can the Lego thinkers rebuild the block-chain without Bitcoin?

Here’s a thought-provoking idea. Bitcoin is the incentive that makes the block-chain work.

First Published: e-Forex Magazine 62 / CryptoCurrencies / October, 2015

Recent research by Greenwich Associates (this has been an excellent season for research) suggests that: “The security created via mining acts as the incentive people need to be involved in the block-chain network. No incentive, no block-chain.” Mining, of course, is the process of “digging up” individual bitcoins; “miners” get a fractional cut. Greenwich Associates’ report, Bitcoin, the Block-chain and Their Impact on Institutional Capital Markets, authored by Dan Connell, managing director, and Kevin McPartland, head of research, both of Greenwich Associates’ market structure and technology practice, goes on to reveal that: “94% of our research participants believe that the block-chain or similar distributed ledger technology could be utilised in institutional finance.”  We’re talking about 102 financial professionals, most of them in the Americas, roughly half of them buy-side or sell-side (the rest fintech, exchanges, consultants, et...continued

Exclusive Content

The full article is only available to current subscribers. Click here to sign in or subscribe by clicking here