The blockchain world recently witnessed such a rapid evolutionary event unfold; instantaneously. The cataclysmic event – a hard fork – implemented to roll back the stolen Ether from the hacked TheDAO contract. As a result –
Bitcoin Group has pulled its float and will consider a fresh IPO after the so called “Bitcoin halving” due in the middle of this year, which is expected to have a dramatic effect on the Bitcoin price.
Mike Hearn, believed that bitter infighting and intransigence among the core development team had paralyzed the system, which was facing growing pains that, unaddressed, would cripple the currency so badly it was unlikely to recover.
For the longest period, central banks and the Federal Reserve held all of the power in the financial world. Although very little has changed then, there are concerns regarding the “magical power” associated with these institutions. Moreover, it seems implausible central banks will aid in recovering after the financial crisis.