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Universal Bitcoin services startup Xapo has announced that former executives from Visa and Citibank, alongside a former secretary of the treasury, has joined the company’s board of directors. In a Xapo statement, Visa founder Dee Hock, former Treasury Secretary and President Emeritus of Harvard University Lawrence H. Summers and former Citibank CEO and Chairman John Reed, said they joined the company because of the potential of Bitcoin’s technology and currency to advance financial services. Reed highlighted how Bitcoin could change financial services, noting they have “remained largely untouched by the digital revolution.” He added that Bitcoin is a large improvement over the “historical form of currency,” highlighting the digital currency’s scarcity and divisibility. Summers, who also serves on the board […]
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On May 11, the leading stock exchange Nasdaq announced that it would begin experimenting with the blockchain technology that powers Bitcoin. The Wall Street Journal reported that Nasdaq will start with a pilot project in Nasdaq Private Market, a recently launched marketplace that handles pre-IPO trading among private companies. “Utilizing the blockchain is a natural digital evolution for managing physical securities,” said Nasdaq CEO Bob Greifeld in the announcement. Speaking with The Financial Times, Greifeld noted that he wants Nasdaq to be “a leader in the field.” He added that the network could potentially revolutionize the time it takes to finalize deals on U.S. securities markets. “I am a big believer in the ability of blockchain technology to effect fundamental […]
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