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Why security pros should care about Bitcoin's troubles

Antone Gonsalves | Feb. 19, 2014
Recent struggles for the "cryptocurrency" signal maturing process for payment system that CSOs may need to secure one day.

"The market in general needs more assurances than it's getting from Bitcoin that this is going to be secure, auditable and not subject to unscrupulous hacking before (companies) put more trust in it," Camp said. "That may come from Bitcoin or a replacement for Bitcoin."

As adoption of digital currency grows, CSOs will likely have to deal with a new layer of regulatory compliance, which is sure to follow once governments get involved.

"Bitcoin has been allowed to continue for the sake of the experiment, which is how it is viewed," Al Pascual, analyst for Javelin Strategy & Research, said. "Digital currency will one day be the norm, and it will be the (U.S.) Treasury that manages it."


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