Bitcoin and blockchain, the digital ledger used for bitcoin, have been headlining news. Bitcoin, once associated with illicit online transactions, is being recognized by big banks. Just this week State Street, one of the oldest banks in the US, made headlines as it set up its own innovation lab to deal with blockchain technology. JP Morgan, Credit Suisse, Commonwealth Bank of Australia, with more banks to come, backed R3, a blockchain consortium. To understand Bitcoin, blockchain and the crypto future we sat down with Tim Lee, founder of ArcBit bitcoin wallet, who has been dealing with the blockchain much earlier before the general public, or even large banks, heard about the Bitcoin or its digital ledger. Tim comes from the start-up background - similar to the Bitcoin and blockchain founders and disruptors. Byte Academy is excited to announce that Tim Lee will be doing a blockchain workshop October 16 in addition to other part-time classes.
Why did you decide to enter the Bitcoin market?
Although there are many wallets out there, we've still decided to enter the Bitcoin market because it is still early days. Bitcoin has not yet reach mainstream adoption, so until that happens there are a lot of opportunities for new Bitcoin startups.