More Mainstream Use Cases Needed to Secure Bitcoin’s Legitimacy

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Blockchain technologies like the one that underpins Bitcoin are gaining wide acceptance across industry sectors from finance to healthcare to real estate. Bitcoin itself, however, is still struggling with legitimacy and regulation issues. Just this week, the fact that bitcoin was chosen as the payment method for the latest round of global data ransomware attacks, WanaCrypt0r 2.0 malware, has underscored the negative perception that still swirls around the cryptocurrency.

On the most recent episode of Epicenter, co-hosts Brian Fabian Crain and Meher Roy interviewed  Peter Van Valkenburgh, Director of Research of Coin Center, a nonprofit research and advocacy center focused on the public policy issues facing decentralized financial networks like Bitcoin and Ethereum. During the interview, Van Valkenburgh explained how Bitcoin is currently dealing with its branding issue; how Coin Center is laying the groundwork for future discussions about Bitcoin regulation; and how more mainstream uses of the technology would be helpful for discussions around regulation.

Bitcoin’s Branding Issue

Van Valkenburgh noted how Coin Center has struggled with the issues around Bitcoin as a brand, as many in the mainstream associate the digital currency with the collapse of Mt. Gox and drug sales on darknet markets.

“We take

Read more ... source: Bitcoin Magazine

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