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<p>[QUOTE="HawkeEye, post: 2990330, member: 86305"]I agree but, I have a high tech and banking background and no matter what is said so little is known about the technology and the true security that I think there is some shaking out to come. But here also the existing payment system is owned and controlled, and I think it is unlikely that the government and major banks will allow an unregulated payment system forever. Once the major banks get involved with block chain it will fall under the supervision of the FDIC/FED/Comptroller of the Currency/States. Dodd/Frank already has 20,000 pages of regulation, so a few more is a nit.</p><p><br /></p><p>There is too much room for abuse, fraud, and tax circumvention to let it be truly open forever. The regulators are probably schooling themselves up for a regulatory push, and it will come with the first major loss by an bank or influential person, or the first proven fraud case.[/QUOTE]</p><p><br /></p>
[QUOTE="HawkeEye, post: 2990330, member: 86305"]I agree but, I have a high tech and banking background and no matter what is said so little is known about the technology and the true security that I think there is some shaking out to come. But here also the existing payment system is owned and controlled, and I think it is unlikely that the government and major banks will allow an unregulated payment system forever. Once the major banks get involved with block chain it will fall under the supervision of the FDIC/FED/Comptroller of the Currency/States. Dodd/Frank already has 20,000 pages of regulation, so a few more is a nit. There is too much room for abuse, fraud, and tax circumvention to let it be truly open forever. The regulators are probably schooling themselves up for a regulatory push, and it will come with the first major loss by an bank or influential person, or the first proven fraud case.[/QUOTE]
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