Alastair McAulay, a disruptive IT expert at PA Consulting Group, is quoted in an article in FS Focus on bitcoin, what it means for business and its future.
Alastair says: “Bitcoin will never fully escape its reputation as the dark web currency of choice and so will never become a global currency that’s used on a mass scale.”
“The ongoing civil war between different bitcoin factions about how it can expand capacity to address performance limits will hold it back,” he continues.
Alastair goes on to say: “Transactions now require over 10 minutes to be validated and that’s a problem. But bitcoin’s response is even more of a problem. It’s just not creating confidence that its governance is strong enough to make it a viable option for [business to business] transactions.”
He then says: “We’re going to see… other blockchain alternatives emerging that address the limitations of bitcoin. And they’ll be the options that get used in the real and online world.”
Read the full article in FS Focus.