Jon Matonis, ED & Founding Board Member of the Bitcoin Foundation to Participate in SIBOS

0
130

Jon Matonis, ED & Founding Board Member of the Bitcoin Foundation to Participate in SIBOS

Jon Matonis, ED & Founding Board Member of the Bitcoin Foundation to Participate in SIBOS, an annual conference, exhibition and networking event organized by SWIFT for the financial industry. In his blog post on the official website of the Foundation he says that the event is an excellent forum for financial community.

SIBOS which started out as SWIFT’s international banking operations seminar, has grown into a premier business forum for the global financial community wherein participants debate and collaborate in the areas of payments, securities, cash management and trade, etc. The forum also provides excellent opportunity for Bitcoiners.

Writing in his blog Jon Matonis says that leading up to SIBOS, the largest and most influential forum for the financial community, the Bitcoin community has seen PayPal partner with BitPay, Coinbase and GoCoin to accept Bitcoin and Jack Dorsey of Square suggest that they may be adding Bitcoin as a form of payment.

He says that it can be coincidence or even smartly placed events; however, one inevitable question remains is will banks be next? Quoting his piece that he wrote November last year “Banks Squander Opportunity in Bitcoin” in American Banker, wherein he credited the banking sector for being early movers of innovation he says the banks have huge role in it.

There is Huge Potential for Banking Organizations, Says Jon Matonis

Jon Matonis writes that bankers can provide a trusted safekeeping of assets and digital wallets, Bitcoin exchange services with national currencies, merchant payment processing services, and transaction escrow services, etc. He believes that there is huge potential for banking organizations in Bitcoin and that must not be squandered.

He, however, says that in the absence of banking visionaries and cumbersome bureaucracy, more agile and innovative entrepreneurs and FinTech startups such as BitStamp, Xapo, Square, Coinbase, BTCChina, BitPay, OKCoin and GoCoin, etc. have started to fill the gaps in the Bitcoin ecosystem as the banking organization not taking the initiatives.

Writing about SIBOS he says that for the past 36 years, the forum has brought together decision makers and topic experts from financial institutions, market infrastructures, multinational corporations and technology partners to collaboratively shape the ever evolving financial landscape.

Evidently, SIBOS brings together some 7,000 decision makers, nearly 200 exhibitors, and plenty of networking events and considered ideal place to do business and collectively shape the future of the financial industry.

To contact the reporter of this story: Deepak Tiwari at deepak@forexminute.com