Bitcoin: Beyond the Silk Road

The system is ripe for disruption bitcoin

Don’t be shortsighted when talking about Bitcoin.  I’ve followed the crypto-currency for quite some time, watched it rise to fame, crumble slightly and rise again.  Coverage of Bitcoin varies, many see it as a tool of schemers and criminals; entrepreneurs and innovators see it as an opportunity.

Despite which side of the sentiment line you fall, one fact remains indisputable: Bitcoin is here to stay. Add it to the list of things abused by money launderers (along with cash, credit cards, shell companies and prepaid cards) and move on.

Once in the acceptance phase, try and focus on the long game.  One way to do this is through an exercise called horizon scanning, an element of the strategic foresight process. For more on what this might look like read the post on Horizon scanning

Here are some resources on Bitcoin to get started: 

A Look at the Bitcoin Economy

Beyond the Silk Road: Potential Risks, Threats, and Promises of Virtual Currencies

The Chicago Fed Bitcoin Primer

Bitcoin: A Primer for Policymakers

Bitcoin Magazine

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