MSN Money spoke with Bitreserve’s new CEO, Anthony Watson — formerly of such companies as Nike, Barclays, Wells Fargo, Citi, and Microsoft — on Tuesday to talk about the business model of the Bitcoin startup he now heads, and the “challenges and long-term goals” of both his company and Bitcoin.
Watson’s main banking experience lies in payments. “I’ve built some of the largest payment platforms in the world, for some of the biggest banks,” he said in the MSN interview. According to Fortune, when he worked with Barclays, “he treated their tech department like a small startup […], and led the launch of a slew of mobile banking apps.”
Watson told MSN, “Bitcoin has three fundamental challenges [to overcome in order] to become a ubiquitous, world currency.” He said:
“The first challenge is it’s highly volatile. Bitreserve is the first company in the world to offer stability for free. The second issue with Bitcoin is predominantly today is its user population is traders and speculators. The third problem, and the biggest problem if it’s going to become a ubiquitous world currency, is the fact that it’s probably the most inequitable, unequal