Bitcoin users, administrators and curious met at the first Bitcoin conference in Singapore on November 15th. The speaker panel was almost exclusively made up of Bitcoin businesses and the converted and a few representatives from law firms. The conference fee was marked up in Bitcoin – XBT1.125 for delegate and XBT9.500 for sponsors, which at todays rate puts the fees at around USD880 and USD7700.
At the European Bitcoin event in June this year, a banker and a representative from the Dutch regulator sat on the regulatory panel. The regulator confirmed it has no interest in creating a regulatory framework for Bitcoin specifically, which was applauded by the audience of crypto-currency fans.
Preaching to the converted however, is the easy part, and at the moment Bitcoin’s success story is allowing the to travel the world and meet the fans. The Bitcoin story will start to get really interesting when the financial sector decides it wants a slice of the pie.
This interesting piece on the Monetary Future blog puts forward the argument that the financial system needs Bitcoin.
Although persuading a banker to take on Bitcoin might prove a shade more difficult than the conversation in the article hopes, it does a good job of laying out the benefits of Bitcoin for financial services.
In the meantime, I am interested to hear what the banks think about Bitcoin and crypto-currency.