The Most Powerful Force In The Universe

Good piece on status of tech industry.

TechCrunch

There was an incredible media glare this week on the Kleiner Perkins sex discrimination trial and its negative outcome for Ellen Pao, but all the news about equality in tech was not nearly as negative. One of the most significant victories for women in tech came this week from Google, where Ruth Porat, the current Chief Financial Officer of Morgan Stanley, accepted an offer to join the search giant as CFO.

It is also the clearest sign yet that Wall Street is no longer the place for top talent, supplanted in its role by the ascendancy of tech. Porat didn’t just choose Google because the company has a more interesting mission statement than Morgan Stanley, but because it also pays better. A lot better. Google is reportedly paying Porat more than $70 million in salary and stock options over her first two years (although the vesting period for…

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Bitcoin – what is the use case DEC_TECH

The Bankwatch

The lecture by Andreas Antonopouloswas highly entertaining with anticipated shots at banks. In the audience of 400+ there were 6~ bankers so we were an easy target.

Apparently banks are busy developing strategies he surmises for use of the blockchain without the currency, or with normal currency. He poo pooed that idea noting that the bitcoins and the blockchain were inseparable.

Having said all that and thoroughly enjoyed his talk I am still no wiser for the use case, let alone the business case for Bitcoin. Some facts mentioned tonight are well known:

  • bitcoin is unsupervisedwith no centralized authority
  • Fintrac have indicated that standard KYC and AML checks are required on Bitcoin service providers
  • Volatility; no real answer. Reality of large surges in demand.
  • Standards: there is no similar standard to PCI/DSS
  • Block chain is a ledger
  • Bitcoin is 100% confidential although this is at odds with the stance…

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