won us a wealth of awards. Speaking to a packed room of bankers and FinTech entrepreneurs, Dixon said he believes that bitcoin is now the only viable blockchain that has proven its utility at scale, and that banks looking to build other private blockchains will end up either using bitcoin. Further, many such problems are not really technological problems, he suggested for example, the hurdle to overcome when bringing about instant settlement of payments is a compliance problem rather than a technical one. Many early bitcoin startups have now pivoted into the private blockchain space, and several high-profile venture deals highlight the growing private blockchain industry. On the one hand there are the ultra-wealthy, who invest in bitcoin as a hedge against bank deposits, therefore utilizing bitcoin as a store of value.
Moving on, Dixon said the interest of central banks in issuing digital currencies is a radical change in the relationship between central bank, money, and the financial industry. Investors would then be able to transact directly with central bank-issued digital currencies and bitcoin, thus cutting out the wider banking sector altogether. Digital currencies issued by a central bank would represent a way to reduce systemic risk in the financial sector and are likely to become more prominent during financial crises, he said. Computer Security Software Russia. . Further, Dixon defined what is needed to justify the use of a blockchain: Blockchain introduces bearer assets. Home, business, protecting over 500M users worldwide, with a worldwide network of 500 million machines, Bitdefender has the largest security delivery infrastructure on the globe.