Addendum to Federal Reserve Bitcoin Story at Bitcoin Magazine
FAC from February 2014
Addendum to Federal Reserve Bitcoin Story at Bitcoin Magazine
FAC from February 2014
Breaking The News (Three Months Later)
By Brian Cohen
05/19/2014
You heard it here first (watch this story get hijacked…you know who you are…See How Not to Steal People’s Content on the Web)
Yesterday over at Bitcoin Magazine we broke the story “Federal Reserve’s Bitcoin Policy Begins to Take Shape”.
As reported by Wall Street Journal today in BitBeat in “The Fed’s Surprisingly Warm Take on Bitcoin:”
Bitcoin’s “global transmissibility opens new markets to merchants and service providers,” said the report of the May 9 meeting, which was recently posted on the Fed’s website and first reported Sunday by Bitcoin Magazine.
with a courteous link-back to our investigative piece.
Anyway other “news” outlets could have simply bothered to read the last FAC to see there really was NO SURPRISE
RECORD OF MEETING
Federal Advisory Council and Board of Governors
Friday, February 7, 2014
Item 2: The Outlook for Banking in 2014
What is the council’s view on the following matters in the coming year:
(C) The most significant technological change in banking?
The Council believes that for the banking industry, technologies can be both enabling and/or disruptive. Any significant technology change for banking may have both, but will probably be fundamentally disruptive to incumbents and will require that banks and other financial system participants continue to transform their products, operating platforms, and business models. These changes can be broadly grouped into the following areas:
- Data security
- Payments system
- Talent and ideas
- Big Data and data mining
- Mobile platforms
- Artificial intelligence
- The cloud
- …I’m going to skip this one for now..
- Fixed income market.
and Ding, ding, ding…..
. Digital currencies
“Alternative currencies, such as bitcoin, have been receiving a lot of media play. Several members noted that the introduction of digital currency could be a very disruptive phenomenon”
Read the report to see the description of the bullets. Heck just read the report because we weren’t allowed to for 100 years …and now we can.
This is how you break news on an “open secret”.. its not much different than investigative journalism. I think the industry should grow a spine and cite their sources.
