A Banker’s Guide to Virtual CurrencyWith Andy Beal
- 1 Video
- 6 Downloads
- 2.0 hrs
Bitcoin is a decentralized, peer-to-peer payment system - it is to money what Napster was to file sharing. Bitcoin is not backed by any one government, nor is it run by any one corporation, and at its core is a piece of technology that attempts to solve a problem that has eluded the banking community for decades: how can you use the internet to transfer a dollar instantaneously and ensure the dollar is not spent twice?
Bitcoin is the dawn of a new "virtual" era, and it is already redefining the way we think about moving money.
This webinar will cover:
- Bitcoin Basics - What it is and how it works
- Common Misconceptions - Criminal activity, anonymity and hackers
- The Ecosystem - Types of bitcoin companies banks are likely to encounter
- Using Bitcoin - Merchant adoption, and the advantages and disadvantages of using bitcoin
- Money Service Business/Money Transmitter Regulation - State, Federal and international
- Bank Secrecy Act Compliance - Anti-Money Laundering and Know-Your-Customer policies
- The Need for Banks - Bitcoin's struggle to secure banking relationships; how money moves from the virtual world to the banking world; and the type of transaction activity banks can expect to see from virtual currency companies
Why Bitcoin Matters: macro-level discussion and possible future developments
Andrew Beal is a corporate attorney in Los Angeles, CA. He has been involved in bitcoin since early 2013, and represents virtual currency exchange in areas of state and federal money transmitter licensing and Bank Secrecy Act compliance. Andy is regularly quoted on Coindesk.com, the leading bitcoin news website, and is personally involved in a number of bitcoin-related projects.