Get to know Bruce Fenton

Postet on 20. June, 2014 | 11:54:54

Fenton fast facts

Please, tell us about the relevance of crypto currencies for your work. What are you doing in this field, and where do you want to go within the next year?

I’m president of the Bitcoin Association, an industry group focused on Bitcoin and I am also an investor and own a company who serves as an economic advisor to large organizations such as the Bill & Melinda Gates Foundation.

What work challenge keeps you up at night?

Dealing with tech limitations of old systems

A variety of bullish Bitcoin price predictions have been touted over the past year. What’s your crystal-ball forecast for what Bitcoin will be worth in six months?

3000

What are the biggest benefits and largest risks of doing business with Bitcoin?

Biggest benefit is the 21 million limit and the easy ability to move money in a frictionless way — drawback is lack of understanding, security and complexity

What has been the most exciting work development this year?

The growth and pace at which things have changed

Can you tell us something about yourself that your team would be surprised to know?

I was once in the Navy

It’s been said that Bitcoin could be as “big as the Internet” in reshaping the world and spurring economic growth. Do you believe that?

Absolutely

What’s the best way for people in the Bitcoin community to build trust and facilitate standards that will expedite mainstream adoption?

Communication

How can financial institutions adapt to a technology that ultimately threatens their dominance?

Clayton Christensen wrote a book about this and said that one way is to carve out new divisions to quickly embrace new tech

What’s to stop the banking industry from coming up with their own implementations of a virtual-currency model?

They can but if it’s centralized it will fail

Thank you Bruce! We are looking forward to see you at Inside Bitcoins London!


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