“On 31st March, the Federal Reserve Bank of St. Louis – one of the 12 Federal Reserve banks – held a talk on bitcoin from a banking and economic viewpoint. The session, entitled ‘Bitcoin and Beyond: The Possibilities and the Pitfalls of Virtual Currencies’, was presented by economist David Andolfatto, who is Vice President at the bank and a professor at Simon Fraser University. Andolfatto is sure that, ultimately, new systems will upend the monetary hierarchy of today – eventually forcing substantial changes within the banking and payments industry.”
http://www.coindesk.com/federal-bank-vp-bitcoin-threat-means-banks-must-adapt-die/
Related posts:
White House To Ignore Court Ruling, Keep Issuing Obamacare Subsidies
Dear police: The world is watching when you kill our children
When We Will Celebrate the End of QE, and Why
Bitcoin’s Sixth Year Likely Driven By Institutional Participation
The Failing War on Drugs, the Benefits of Natural Cannabis Cultivation
Here Is Why The Fed Can't Hike Rates By Even 0.25%
NYPD to Launch Future Crime Unit
Edward Snowden’s father: ‘Absolutely no faith’ son would get fair trial in U.S.
SF's Infrastructure Is Falling Apart Because People Keep Peeing On It
ObamaLoans Up by Almost 3 to 1
Old Assets Revitalized by the Energy Boom
Medical marijuana appears headed for Arkansas ballot
IRS Targeted Progressive Groups, Too, Documents Reveal
Graham says FBI should confront people who view ‘Islamist’ websites
Google Joins Yahoo in Offering Bitcoin Prices