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(sorry, in a taxi and went through a pothole, causing premature posting!)

The news is that someone made it work, and got IBM, which handles 70% of the world's payments, to deploy it in a region that already had real time payments, and runs without VC money or coin value subsidies, profitablity - where consumers can't afford to pay an extra $1.00 a month to send money home.

That, by implication, means the technology is maturing - and the business case is viable, and it doesn't take VC scales of money to make this work.... And anyone who needs that, is pulling wool over investors eyes.

I used to think so too, Colin! I have similar stories, about how long klickex has been doing real time, and how much cheaper than blockchain it is...

But you then realise that building for global scale isn't as easy as a press release. Or even getting 100,000 users.

This thing is built for scale. No other blockchain Solution could meet our preformance requirements. This is the first. But this isn't really the major announcement (that we've made a blockchain system work, it connects to most banks in Australia and NZ and the UK in real time,  that it spits ott to 5 countries including 4 mobile network operators, and is already handling nationally significant volumes). 

Wow - Barry should send his CV to us, we're hiring. And profitable. And busy. Robert@KlickEx.org

What if ....

http://bitcoinmagazine.com/9900/global-bankers-cryptocurrency/

This were true? How would bitcoin maintain utility?

This is very bold of Standard Bank. They'd have to offer it as an investment product with full disclosure on risk. And how do they ensure that the wallet does not EVER receive funds from the bitcoin exchange? There's no guarantee of counterparty ID At all..... 

At this point in time, it is probably MORE likely than not, that there are laundering (tax evasion) or criminal proceeds of crime (drug sales) attached to bitcoins than cash. They say crime uses 30% of the cash in an economy, but it stays black the rest of the market is realitively clean. If you buy bitcoin with Rand, who knows who you've just aided and abetted in placement. This is a direct conduit into Standard Bank. Eeek.