26 Jan '14, 4pm

Bitcoin targets payments business of giants Visa to JPMorgan

WASHINGTON — Entrepreneurs from Silicon Valley to Wall Street say they don't care much for Bitcoin as a currency to supplant the U.S. dollar. As a payment technology they could use to undercut Visa, Western Union or Citigroup, they say they like it a lot more. Related Stories More Canadian businesses accepting... As Bitcoin's value gyrates, these investors have said that the headlines about its price and chatter about which retailers accept it obscure the real merit of what Satoshi Nakamoto, the name given to the anonymous person or people who created Bitcoin, delivered five years ago. "At some point, I had an 'aha!' moment and realized that Bitcoin was best understood as a new software protocol through which you could rebuild the payments industry in ways that are better and cheaper," Chris Dixon, a partner at Menlo Park, Calif.-based venture capital firm Andreessen Horow...

Full article: http://www.thespec.com/news-story/4335542-bitcoin-targets...

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