Bitcoin companies are finding themselves in the luxurious position of being the center of discussion around the water cooler these days. Luckily for us digital currency enthusiasts, the tone of that conversation has shifted from rejection and apprehension to excitement and general curiosity. And that also translates to new board members being appointed by these Bitcoin companies.
Xapo – Bringing Bitcoin To The Masses
One of the aspects of Bitcoin that is still rather unclear these days is whether or not it will be regulated around the world, and if so, in what capacity. Until we have an answer to that question, several major Bitcoin-related companies are looking to hire new staff members who know the lay of the land in the current financial ecosystem.
Experts in the financial industry have shown a great interest in Bitcoin and the underlying technology in recent months, which can only be seen as a positive trend for the digital currency. That being said, there is still a lot of work to do before we can even dream of taking Bitcoin mainstream and use it as a proper global payment method.
Xapo, a Bitcoin-related company best known for their exchange platform, have come up with a way to make Bitcoin more “useable” as an everyday currency”. By introducing the world to Bitcoin debit cards, you can now spend Bitcoin wherever major credit cards are accepted. And this is not just limited to the online world, as Xapo’s debit cards work in-store as well.
Granted, this still does not solve the issue of obtaining your first Bitcoins, even though you can purchase them through Xapo’s platform with fiat currency. Most everyday consumers would rather not provide too much personal information when taking their first steps into the world of digital currency and Bitcoin.
Merging the “Old Guard” with “The New Breed.”
In order to make that process a bit smoother, Xapo has recently added three new members to their board of advisors. And they are not just any members, as they can all be viewed as visionary leaders with tons of experience in the world of finance and economy. It goes without saying that these three new members can help in taking Xapo’s services – and Bitcoin – to the next level.
Xapo went out of their way and managed to add Dee Hock – the founder of Visa; the credit card company – to their board of advisors. Considering how Dee Hock handled developing the payment systems we know and use to this very day, many people are excited to see his expertise being adopted to the Bitcoin ecosystem.
“We live in the 21st century but are still using command and control organizational structures from the 16th century. Bitcoin is one of the best examples of how a decentralized, peer-to-peer organization can solve problems that these dated organizations cannot. Like the Internet, Bitcoin is not owned or controlled by any one entity, so it presents incredible opportunities for new levels of efficiency and transparency in financial transactions.” – Dee Hock
And that is only the beginning, as Xapo’s board of advisors welcomes John Reed, former Chairman and CEO of Citibank. Even though many Bitcoin enthusiasts are not a big fan of banks, Mr. Reed helped develop the modern ATM, and he turned Citibank into the global credit franchise that it is today.
“Bitcoin represents a real opportunity for changing that. Money at its core is simply a ledger for keeping track of debts and Bitcoin is truly the best iteration of a universal ledger we’ve ever seen. The mere fact that there will never be more than 21 million bitcoins and that each bitcoin can be divided into 100 million units makes it a significant improvement on any historical form of currency.” – John Reed
Last but not least, there is the addition of Lawrence H. Summers, one of the leading policy and economic thinkers of our time. It is also interesting to note that Mr. Summers was the Secretary of the Treasure during Bill Clinton’s presidency. This man will have some exciting and interesting knowledge that could be put to good use to secure Xapo – and hopefully Bitcoin’s – future.
“Until now whenever we’ve needed to transfer money we’ve had to rely on a third party, whether it be a bank, a clearing house or a payment network. Bitcoin offers, for the first time, a method for transferring value and making payments from anywhere to anywhere, in real-time, without any intermediary. This could mean we soon see many billions of people sending bitcoin every day as easily as they currently send a text message.” – Lawrence H. Summers
Source: Xapo Blog
Images courtesy of Xapo