Are we facing the next frontier of currency? Like bartering and banknotes before it, blockchain could revolutionise the way we distribute wealth and account for our transactions. A recent World Economic Forum survey found that most experts think blockchain, the technology that underpins bitcoin, will become mainstream by 2025. But for every person who thinks blockchain is the future of money, there’s another that thinks it’s all just fantasy hype. We’ll be putting these opinions head-to-head.
The FT is hosting a debate that includes you, our readers, in an integral role. On Wednesday, September 14 at 1pm UK time, Izabella Kaminska of FT Alphaville will face Simon Taylor, co-founder and blockchain director of 11FS. Izabella thinks blockchain and bitcoin are an utter waste of time; Simon believes strongly in the future of crypto-currencies. The debate will be live for one hour, moderated by Carola Hoyos, editor of the FT’s report on accounting.
We want you to join in and help us write the story. Share your questions and opinions in the comments here (under Live Reader Comments), or by emailing firstname.lastname@example.org, before and through the debate. Together they will form the front page story of the FT’s report on accountancy to be published on September 22.
Here is a terminology glossary for reference from Blockchain Technologies.
Paypal will soon start to enable merchants on its payments processing network to accept bitcoin, a sign of the growing acceptance and maturation of the volatile digital currency sometimes derided as magic internet money.
A bitcoin start-up has bagged fresh investment from one of Silicon Valley’s best-known venture capital firms.
Coinbase, which provides online bitcoin accounts, said on Thursday that it secured $25m in a round of fundraising that was led by Andressen Horowitz, writes FastFT. Read more
The inventor of the 3D printed gun has trained his sights on Bitcoin, fronting a campaign to keep the virtual currency anonymous and beyond the reach of the authorities, writes Jane Wild.
Cody Wilson’s move hits back at efforts by the Bitcoin trade body, businesses and investors who have been working with officials mainly in the US to press for acceptance of virtual currencies and hasten their integration into mainstream financial systems. Read more
If you predicted the bubble and bust in the Bitcoin market would kill off the nascent virtual currency, well, the very best you could say is that you’re early, writes Stephen Foley.
In fact, dating site OkCupid is going to start accepting payment in Bitcoin from tomorrow, the biggest brand name so far to join the Bitcoin economy. Since the site is part of Barry Diller’s IAC media empire, this gives the currency a toehold in a major corporation. Read more
From the newspaper that brought you “How to spend it”, we now bring you “How to spend it: bitcoin edition”.
Looking for a guitar, a new Samsung tablet, or even some real estate? Open up that digital wallet and fork over your virtual currency.
Bitcoin hit another high today, leaving sceptical pundits in its wake as it broke through the $200 level. The currency is mostly seen as a store of value – with the FT’s Izabella Kaminska adroitly pointing out that it might serve as a type of online memory more than a monetary unit – but that doesn’t mean you can’t spend it.