Is Colin Lambert’s apparent technological illiteracy merely an act to mask his true identity as the genius behind bitcoin? Galen Stops reports.
In the latest twist to an ongoing saga, market sources are now suggesting that Profit & Loss managing editor, Colin Lambert, is in fact, Satoshi Nakamoto, the elusive creator of the digital currency, bitcoin.
Nakamoto released the first version of the bitcoin software client in 2009, before fading from view and eventually disappearing with the enigmatic message that he or she had “moved onto other things”.
As more financial services firms look for ways to utilise blockchain technology within their infrastructures, Galen Stops examines whether the technology is really as safe as advocates claim, following two high-profile hacks earlier this year.
“Cyber and system security is one of the most important issues facing markets today in terms of integrity and financial stability,” said Commissioner Christopher Giancarlo of the Commodity Futures Trading Commission (CFTC) on September 8, when approving system safeguard requirements for derivatives clearing organisations.
Giancarlo is hardly alone in his concerns.
The Wall Street Blockchain Alliance (WSBA) has announced a new working group that will focus on native assets riding upon public blockchains, such as Bitcoin, Ethereum and Zcash.
The new Blockchain Assets Working Group will be chaired by Chris Burniske, blockchain products lead at ARK Investment Management (Ark), and will explore a number of facets of this emerging asset class, including underlying technologies, development teams, economics and market behaviour.
Explaining the focus of the new group, Burniske says: "Instead of focusing on how blockchain technology can be employed within existing financial architectures, this working group will return to the genesis of the blockchain movement that saw the need for native assets to keep decentralised and open systems in economic balance.