The Week In Bitcoin - Issue #64: Community Matters

Community MattersThis week at Blockchain Melbourne we had the pleasure of hosting Paul Puey from Airb
The Week In Bitcoin
The Week In Bitcoin - Issue #64: Community Matters
By The Week In Bitcoin • Issue #6
Community Matters
This week at Blockchain Melbourne we had the pleasure of hosting Paul Puey from Airbitz to talk about the promise and perils of blockchain tech. If you want to watch it here’s a LINK to the Periscope.
What I always find interesting is the cross-pollination of ideas and experiences that occur at our events. Those just trying to understand the industry and those with calcified views on where chains are headed get to collide in a way that is helpful to both parties. In many ways this is what I feel is one of the core values of a great blockchain ecosystem - the ability for people to connect and pass on knowledge. 
It’s no surprise some great connections are being made at our meetups with many seeing it as the centre of gravity for the local blockchain ecosystem here in Australia. 
However, it’s very easy to forget the value ecosystems play in building great startups. It isn’t hard to go fishing for exogenous factors like regulatory change, government support and VC funding as the reason why blockchain companies agglomerate in a particular place. However, what I’m seeing is that organic grass roots driven communities are playing an important role in supporting, nurturing and helping to create startups. In many ways, they are the heart and soul of their local blockchain communities and they matter - a lot.
We plan to continue to do what we can to build out an amazing blockchain ecosystem here in Melbourne. I’d encourage you to go along to your local event/s and get amongst it. Who knows, you might even be inspired to found a startup yourself.
— Alan Tsen, @alantsen 👊💯
Ps. If you like what I’m doing here please feel free to share it on your favourite social media network. Also, it’d be great if you forwarded this newsletter to a friend you think might enjoy it.

News This Week
There has been much discussion about the potential of blockchain, the technology underlying virtual currencies like Bitcoin, to change the world. We have heard waves of inspired commentary on how the technology, with its ability to share information and record transactions, will be as revolutionary as the internet itself.
Fred and I are passionate about creating an open financial system for the world. By open we mean not controlled by any one country or company (just like the internet).
It has big ambitions to revolutionize finance. But those aren’t matched by its funding or manpower. The blockchain industry is either hugely under-resourced or hugely over-optimistic. Probably both.
To use radical new technology effectively, you have to be radical – otherwise, all you end up with is a retro-fitted version of the present system.
As the show continues to examine hacking culture, the future of money has become an issue, too.
The funding round includes participation from Standard Chartered, Accenture, SCB Digital Ventures and SBI Holdings.
Ethereum creator Vitalik Buterin will present a new version of the project’s ‘mauve paper’ at a developer conference in Shanghai next week.
A securities affiliate of Spanish banking group Banco Santander is predicting bitcoin will have a significant impact on the legacy finance ecosystem should it see wider adoption.
Inside a metal shed in the Tibetan highlands of western China, thousands of microprocessors flank narrow corridors, generating a constant hum and stifling waves of heat.
To discuss the future of society Lykke starts a series of open education seminars on Future of the World Economy featuring innovative industry practitioners.
Thousands of startups are entering the cryptocurrency space and attempting to determine how their business model meshes with the numerous edicts handed down to us by unelected bureaucrats at numerous government agencies such as the IRS, FinCEN, and the SEC to list three agencies just in the United States.
From Cold Storage
Banks are rushing to adopt blockchain — the database technology that underpins bitcoin — in order to cut costs, but technologists and business people are having to make drastic changes to force the radical technology to adhere to the norms of the banking world.
I am often forwarded news articles of blockchain experiments run by banks or large companies, questioning “Why are they using a blockchain for this internal use-case?”.
Did you enjoy this issue?
The Week In Bitcoin
The Week In Bitcoin is a curated newsletter that's sent to your inbox every Friday filled with all the most important Bitcoin and blockchain tech news. It takes 10 minutes to read and gives you all the essential news. So subscribe now and find out why many of the industry's biggest names get their weekly dose of Bitcoin news from us.
Carefully curated by The Week In Bitcoin with Revue. If you were forwarded this newsletter and you like it, you can subscribe here. If you don't want these updates anymore, please unsubscribe here.