29 Aug '14, 3pm

Meet the man building the Fort Knox of bitcoin

Meet the man building the Fort Knox of bitcoin

In July, a bitcoin startup named Xapo announced it was raising $20 million, bringing its total backing to $40 million. It was using this funding for an unusually intense security setup. Xapo tells users that they can feel secure because their bitcoin will be stored in offline servers, scattered across multiple continents, in secret underground vaults, with armed guards, and biometric sensors. We sat down with Xapo CEO Wences Casares to discuss why he thinks such extreme measures are necessary and how he sees bitcoin changing the world. This interview has been edited and condensed What makes you so passionate about bitcoin? "When I was growing up, I saw them lose everything, three times." My parents were sheep ranchers in Patagonia, and when I was growing up, I saw them lose everything, three times. A lot of people in America don’t understand what it’s like when your family...

Full article: http://www.theverge.com/2014/8/29/6082195/the-fort-knox-o...

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