Is Bitcoin safe? | The Paypers

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Despite dubious beginnings, disruptive innovation has to come from somewhere and this also applies to Bitcoin mining and exchanges. The doubt surrounding Bitcoin has been fueled by its sudden burst on to the global financial scene. Its bad reputation has also come from infamous examples pulled from the shady underworld of The Dark Net where people bury themselves within TOR (The Onion Router). Those seeking to be totally anonymous whilst merrily spending Bitcoins on the Silk Road are the cause of many arguments against Bitcoin.

Despite all the positives, some control is going to be required and consumer protection needs to be in place. Almost no financial services and regulatory framework in any country saw Bitcoin coming. Taking this into account and assuming the model is embraced, it will be interesting to observe how the various global regulators will manage the risk. Can they effectively manage the risk but also maximise the opportunities Bitcoin presents? Increasing the trustworthiness of this financial model can only increase the overall value of Bitcoin.

via Emma Lindley, Director, Innovate Identity: Is Bitcoin safe? | The Paypers.


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