Bitcoin can pose a serious disruptive threat to the world of finance as we know it. Wall Street has been carefully eyeing Bitcoin and the underlying blockchain technology for several years now. With so many companies leaving New York due to the BitLicense regulation, the reaction on Wall Street wouldn’t take long. Lo and behold, many Wall Street players are migrating to the Bitcoin ecosystem.
Wake Up Call For Financial World and Wall Street
It often only takes one person to start a revolution, and in the case of Wall Street, that person was Blythe Masters. Some of our readers may recognize the name of Blythe Masters, as she was a former JP Morgan executive. After leaving that company to form Bitcoins startup Digital Asset Holdings, a wave of shock and curiosity was felt throughout the entire Wall Street community.
In more recent times, several high-profile names on Wall Street have been jumping ship to secure a spot in the world of Bitcoin and digital currency. Timo Schlaefer is one of those names, as he was well on his way to climb the ranks at Goldman Sachs until February of this year. Ever since that time, Timo Schlaefer has been involved in derivative trading with Bitcoin through his company Crypto Facilities Ltd.
It is no coincidence that many Wall Street names are looking at ways to get involved with Bitcoin and blockchain technology right now. Venture capitalist investment is on a steady rise, and more funds have been raised in Q1 and Q2 of 2015 compared to 2014 in its entirety. The Bitcoin ecosystem is in a good place, financially speaking, and more bright minds are more than welcome.
But there is another reason why the Bitcoin community is growing at such an accelerated pace in the space of these last 12 months. The number of Bitcoin-related jobs has grown exponentially, especially now that companies such as Intel and Amazon are looking for talent with experience in the field of blockchain technology.
The Crossroads Of No Return
By the look of things, Bitcoin has come at a crossroads regarding where it will go next. There is a lot of healthy and financial interest in the Bitcoin ecosystem, yet there have been no major breakthrough projects realized in the past few months. Designing a project from scratch takes a lot of time, effort, and money, but the earlier investors will start expecting some return on investment in the next few months.
Assuming some of these projects will come to fruition before the end of this year, or during the first two-quarters of 2016, things will get very interesting in the Bitcoin world. On the other hand, additional delays could mean the Bitcoin ecosystem loses confidence from some of its biggest investors.
Job openings waiting to be filled is a healthy sign of things to come for Bitcoin enthusiasts all around the world. But at the same time, a reality check is just around the corner in terms of how the future will be shaped. And Bitcoin regulation, in particular, will be playing a key part in that, as it may force companies to switch from Bitcoin to becoming pure blockchain technology institutes.
Bitcoin’s track record in terms of startups has, overall, been positive so far, and we can only hope to see that trend carry over to the next 12 months. An influx of high-profile Wall Street names can only help bolster the Bitcoin economy for whatever the future may bring.
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