Union Square Venture’s Fred Wilson Calls Out Banks for Ignoring Bitcoin

Nathaniel Popper of The New York Times interviews Union Square Ventures' Fred Wilson, from CBInsight's livestream.Nathaniel Popper of The New York Times interviews Union Square Ventures' Fred Wilson, from CBInsight's livestream.

Nathaniel Popper of The New York Times interviews Union Square Ventures’ Fred Wilson, from CB Insight’s livestream.

Fred Wilson of Union Square Ventures has little doubt about his bets on bitcoin.

In fact, the legendary investor called out the world’s major banks for eschewing the first digital currency today at CB Insight‘s “The Future of Fintech” conference today in New York. On a panel interview with Nathaniel Popper of The New York Times, he made it clear that he believes banks are missing the most important opportunity presented by bitcoin as they build private blockchains, locked inside their own servers.

The blockchain is the public database that logs every transaction in digital currency. The bitcoin database is permissionless, distributed to anyone that wants to operate it and public. Private blockchains copy the distributed

Read more ... source: TheBitcoinNews

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