Day 2 Recap: Benevolent Bitcoin and the Future of Cities

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"We live in this world where anyone can talk to anyone, but we can’t transfer value to anyone."

That's how Peter Smith sets up the problem that Bitcoin solves. The CEO and co-founder of Blockchain detailed the ways that cryptocurrency can enable those without access to a banking or financial system to participate in the transfer of value.

"It's a payment platform with no barrier to entry. It allows anyone to interact with anyone," Smith told the Interzone audience on Thursday afternoon.

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Smith later sat on a panel that explored the benefits and pitfalls of Bitcoin and other cryptocurrencies. Here's a small sample of the insight shared by the speakers:

"Security breeches are not just, “Oops, we lost something sensitive.” The money is gone. You can’t get that back. Our mission is to make sure that whether it's an individual consumer... or enterprises holding money, those losses don’t happen anymore. Without confidence, it's very hard to scale the network." — Arianna Simpson, BitGo Account Specialist

"If you ascribe value to the token, it’s a financial service and it has to be exposed to financial service regulations." — Roy Sebag, BitGold Inc.

Later on in the afternoon we heard from Jonathan Reichental, the CIO of the city of Palo Alto. He explained how a city's future lies in the cloud. Although Palo Alto is a small city, it's under a lot of pressure to be a tech leader because of its location, he told the group.

"The future belongs to cities ... but we're not ready," Reichental said. "We need to create a new operating system for cities."

But in order to foster change, we need community involvement and not just coders, he said.

"Half the world's population lives in cities," he said. "Cities are going to have to be smarter. [They'll have to] take technologies and make them hyper efficient."

What do you think? Let us know on Twitter (@TWTGroupInc). Or, if you’re at the #InterzoneIO, we’d love to discuss it with you in person! You can tweet at us or call/text Shawn at 403-918-7735.

Don’t forget to come back throughout Interzone to see our take on the keynotes and panels. You can find everything Interzone on our Interzone blog.

 

Topics: Interzone