There is an old saying about lending that goes like this: if you owe the bank $1 million, that’s your problem. If you owe the bank $100 million, that’s the bank’s problem.
It’s a neat, intuitive little adage about game theory and the transferability of risk. Let’s say the bank you are borrowing from is JP Morgan. As the borrower, you know that a $1 million dollar loan is less than a rounding error on their balance sheet. It’s not even enough to get the low level banker who originated it to you a pat on the back.
If you don’t pay it back, you know that JP Morgan will come after you not because they will miss your $1 million, but because it would set a bad precedent if they didn’t. They would take you to court, and happily pay more in legal fees than hoped to recoup because it’s not about the money for them. …
New York’s Blockchain Week is an exciting time for the crypto and blockchain industry.
In 2015, the week consisted of a one day, 400 registrant event.
Now, five years later, the 6th annual NY Blockchain Week is shaping up to be the best one yet.
Whether you’re a marketer looking to a sponsor an event during NYC’s Blockchain Week or just a conference-goer looking to attend events, I’m here to help you navigate this crazy week.
Date: Wednesday, May 13th
Venue: Pier 60
Format: One-day, two-track conference
Focus: Bridging the gap between institutional investors, traditional financial institutions, and…
This is part of a 12 part highlight reel by BlockWorks Group where we review the biggest crypto and blockchain story from each month of 2018.
In December, it came out that Facebook is developing a cryptocurrency—specifically, a stablecoin—that will let users transfer money on its WhatsApp messaging app, focusing first on the remittances market in India.
According to some folks familiar with the matter, Facebook is far from releasing the coin, because it’s still working on the strategy, including a plan for custody assets, or regular currencies that would be held to protect the value of the stablecoin.
Big banks have made their stance on crypto known since before 2016. …