Digital Currencies Conference 2015: ‘Bitcoin Tech is the Future,’ Says Blythe Masters

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by Tatsiana Yablonskaya · 3 min read
Digital Currencies Conference 2015: ‘Bitcoin Tech is the Future,’ Says Blythe Masters
'I believe that Blockchain technology has the potential to truly change the way the financial world operates, to reduce costs, reduce efficiency, reduce risks and ultimately provide better customer service, which ultimately is what financially services needs to be all about,' said Blythe Masters at American Banker's Digital Currencies + the Blockchain conference. Photo: xfinance/Flickr

Blythe Masters, CEO of Digital Asset Holdings, voiced support for bitcoin at SourceMedia’s Convene.

Bitcoin has been in focus of everyone’s attention in Bank Sector recently. Many experts are striving to express their opinion about digital currency in general and blockchain in particular. Moreover a mission of changing current financial system is ascribed to the latter.

Blockchain maintains control over all bitcoin transactions and locations and in this regard the technology is pretty straightforward. No wonder that many people believe that applying it to other spheres is more than possible.

Blythe Masters is one of those who support bitcoin. She now takes the post of Chief Executive at Digital Asset Holdings. Her name is one of the most well-known in the industry.

Masters started her career in the bank JP Morgan Chase in 1991. It’s remarkable that she became a managing director at the age of 28 which allowed her to become the youngest woman to achieve that status in the firm’s history. She contributed to the creation of the market for credit default swaps. In total she devoted more than 20 years to the bank and left in 2014 after the physical commodities business had been sold to Mercuria. But the name ‘Queen of Commodities’ stuck to her firmly.

The following appointment to Digital Asset Holdings made her one of the most significant names in digital currencies sector.

Masters touched the topic of bitcoin at American Banker’s Digital Currencies + the Blockchain conference in Manhattan yesterday. She sounded quite confident about prospects of blockchain: “The potential addressable markets for these types of technologies are gigantic. Every single kind of financial asset – whether we are talking about stocks, bonds or derivatives – could be handled the same way as bitcoin handles transactions”.

However, Masters underlined that talking about overall understanding of great Blockchain future in financial sphere is still too early. She compared it to the development of Internet in the beginning of 90s: “In reality the world is not there yet. The industry will have to address regulatory hurdles as it confronts issues like authentication and security in coming years”.

Masters is not the only family member involved in bitcoin industry. Her ex-husband Daniel Masters has recently got license for a launch of the Global Advisors Bitcoin Investment Fund. The fund was started by Mr. Master and his partner Russell Newton. The opening was preceded by a long and complicated process of supplying all necessary documents to the Jersey Financial Services Commission and getting permits. Similar fund called Bitcoin Investment Trust was created by Barry Silbert and the one from Winklevoss brothers is waiting for authorization.

It’s interesting that bitcoin can become a family business. Although ex-spouses now go separate ways we wish both of them luck in professional activity!

Bitcoin News, Blockchain News, Cryptocurrency News, News
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