Re:Goldman Sachs Is Setting Up a Cryptocurrency Trading Desk
by prawn on Thursday December 21, 2017 @09:35PM
(#15984831)
Could that be solved by some sort of banking layer between such-inclined users and their holdings, without interfering with the core aims of Bitcoin? e.g., an abstraction where the next generation bank provides some extra level of security or recourse. I can't imagine that banks as they are today are brilliantly efficient.
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Re:Goldman Sachs Is Setting Up a Cryptocurrency Trading Desk
by theoh on Thursday December 21, 2017 @10:19PM
(#15985023)
The ING paper continues "The fact that
they [banks] do not (yet) provide custodian functions for Bitcoin (e.g. for regulatory reasons)
does not mean that the general public would not need or want those services for
cryptocurrency. In fact, many Bitcoin users choose to keep their wallets with online
providers – meaning that even in today’s Bitcoin universe, there is a clear role for
intermediaries."
The Bitcoin/blockchain-agnostic term for the basic abstraction these intermediaries share is "distributed ledger", though that doesn't solve the whole problem.