Gallery: CoinDesk Launches ‘Expert Briefing’ Series
Wallet numbers are “BS” as a way of measuring bitcoin adoption, according to Jeremy Allaire, founder of Circle, the bitcoin buying and storage firm pitched at consumers.
Bitcoin wallets can be easily generated by automated means and for myriad reasons, so their numbers are a poor estimate of bitcoin’s popularity, Allaire said during a panel discussion at CoinDesk’s first Expert Briefing in London yesterday.
Allaire was joined by Elliptic co-founder James Smith, who agreed that wallet figures are a problematic way of tracking the cryptocurrency’s growth.
Smith discussed his firm’s efforts in the enterprise side of the bitcoin space, acting as a custodian for bitcoin funds. The London-based firm stores and insures client funds in an attempt to develop into a “custodian bank” for the digital currency.
This post was published at Coin Desk on March 3, 2015.