Quote from: Asrael999 on May 21, 2015, 10:40:04 AM

Quote from: gentlemand on May 21, 2015, 10:36:46 AM

Quote from: Asrael999 on May 21, 2015, 10:06:28 AM

Its not bullish for bitcoin - it is bullish for crypto adoption. Lawsky knows that the financial services industry will seek to create a replacement for the payments network , ideally (from their perspective) a quasi-walled garden which only authorised participants (banks and payments agents) can access

So the future of crypto is as an inter bank payment network only accessible by a few hundred or thousand players?

I think he'd be out of a job pretty rapidly then. Once it's ticking away nicely that's that.

and as a seperate blockchain for use by a global decentralized stock exchange, and as a tax collection mechanism with tax collection and point of transaction, and a lot of other uses. But there does not need to be one only, and it does not need to be bitcoin, and it does not need to exist yet or be invented in the wild. You think the finance industry doesn't have as many or more smart people than the bitcoin community and cannot see the advantages of the tech, and of the potential competitive threat?
Plenty of places for Lawsky to pocket outrageous consultancy fees before he retires to various board positions with various financial firms advising them how to make a blockchain that is more fit for payments purposes than bitcoin, or for asset management, etc etc.

They surely can hire, do you really think IBM MS Oracle etc... couldn't think of a distributed blockchain before Satoshi? They most probably did but the problem is coming up with a way to monetize on it. Satoshi was the first one to give it up to the public mostly free (minus the blocks he mined at the start).
Step 1 Create blockchain
Step 2 Huh

Step 3 $$$money$$$