There seems to be no shortage of bitcoin entrepreneurs or investors getting new ideas and new technology on the market, but showing all parties how NextGen payments and banking incumbents can cooperate, or even just coexist, within today's society and under its terms is perhaps a job best left for the lawyers.
Bitcoin isn’t just magical Internet money anymore; the bitcoin technology provides the infrastructure for innovations in record keeping, smart contracts and asset distribution, among other things that could weave the fabric of a new financial system if developers can start to minimize the gap between the bitcoin consumer and the average consumer.
As such, legal and regulatory experience have begun to materialize as vital skills in this current bitcoin economy. They are the backbone of compliance functions and paramount in managing and monitoring the policies, processes and risks of the businesses building the ecosystem.
There’s $317m invested in cryptocurrency startups worldwide, $60m of it from Q3 of this year alone. For Boost VC, one of the most prominent bitcoin startup accelerators, companies that provide services meant to support the ecosystem are of high priority. Such companies, founder and CEO Adam Draper says, are mostly based in compliance and bridging the tech gap.
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