Happy BitScanniversary Me

Wednesday 16 March 2016

It’s 12 months to the day since I formally came on board with BitScan, so it feels like a good time to review the last year.

Although I’ve been writing for BitScan for over two years now, today is my first anniversary as a full member of the team. A lot has happened in BitScan and in crypto during that time, and it’s worth running through a few developments, credits and highlights. In no particular order:

Read also: Welcome to BitScan! 

The rest of the BitScan team. These guys deserve a shout out for creating a really cool company that has the potential to revolutionise how we do e-commerce, let alone money more generally, and building some awesome software (instant search, fast store set-up for merchants; credit card or crypto payments, at 5% discount). Special mention goes to Rob, who has had to brave the time difference between Aus and the UK whenever we Skype. It must be tough hauling yourself away from the beach and chatting with a glass of wine whilst I have the luxury of dragging myself out of bed on a cold morning, grabbing a coffee and hoping my brain kicks into gear before I say too much more.

Cheers

First anniversary today. Cheers, guys!

Bitcoin. The honey badger keeps going, despite a serious existential threat. This time last year you were struggling to top $300; now you’re just about keeping your nose above $400. If you could just get some group therapy about that blocksize issue and put the rest of us out of our misery, that would be fantastic. Kthxbye.

Benjamin Lawsky, bitcoin’s regulator-in-chief. You finally came up with the BitLicense, despite apparently knowing next to nothing about bitcoin before you started and only a limited amount once you’d done. Ah well, at least we all know where we stand, now.

Wall Street. A couple of years ago the die-hard bitcoiners were telling each other it was only a matter of time before you got in on the act. They were right, just not in the way they hoped. Finally, you guys have figured out that blockchain tech is really quite a big deal and might be quite useful. Ok, so you’re creating your own permissioned ledgers rather than using the open ones that would genuinely bring a degree of transparency and justice to the financial system, but who said life was fair?

VC. Over a billion dollars of investment has been thrown at bitcoin and blockchain-related start-ups. That’s a lot of faith in a new technology, especially when you consider that back in 2011, just 5 years ago, only $3 million was invested.

Ethereum. Yep, credit where it’s due. It might currently be long on promises, short on working tech right at this present moment; there may be question marks around its long-term sustainability and scalability. But Ethereum is THE big crypto project of the moment, and it’s done a lot to raise awareness of the potential of this remarkable suite of technologies. In the space of 18 months we have seen massive new interest and investment into Ethereum and Ethereum-related companies, with some of that spilling over into other areas - Microsoft’s Blockchain-as-a-Service (BaaS) being one obvious example.

I’m pretty sure the crypto landscape is going to look very different another year from now, and I’m looking forward to seeing where we end up. Stay tuned!


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