Venture Capitalist: Banks Are Oblivious to Bitcoin’s Best Feature

Venture Capitalist: Banks Are Oblivious to Bitcoin’s Best Feature


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Investor Fred Wilson, co-founder of Union Square Ventures, thinks banks are blank a many critical event bitcoin offers by building private blockchains.

Fred Wilson

Speaking on a row with Nathaniel Popper of The New York Times during a CB Insight “Future of Fintech,” he pronounced a transformative value of practical banking will be on a open blockchain, as reported by the Observer.

Private blockchains duplicate a distributed proceed of open blockchains though censor it inside a servers that their creators have given accede to say a copy.

Private Blockchains? Think Compuserve

Wilson, a successful financier who has invested in Coinbase, Twitter and other record companies, compared private blockchains to those who select Compuserve over a Internet. “The transformative value of practical banking will come from “a globally distributed, open blockchain,” he said.

Wilson is not tender by financial companies’ seductiveness in novel



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