Crypto Frontline

History of the NYC Bitcoin Center

History of the NYC Bitcoin Center

November 17
08:21 2017

The Bitcoin Center based in New York City is located very close to the New York Stock Exchange. It was founded in early 2014 with the purpose of educating people about blockchain and bitcoin. It was also aiming to encourage cryptocurrency trading and to become the first regulated bitcoin exchange in the world.

bitcoin center

Source: https://www.bitcoincenternyc.com/

First stages

The Bitcoin Center from NYC opened thanks in large part to one of its co-founders, Nick Spanos, a gifted entrepreneur from a young age, who has also studied Computer Science at the New York Institute of Technology.

One thing that is worth to mention is that many people at the Bitcoin Center, like the community at large, all have almost the same political and social history that enabled them to be fully aware of the weak points of the monetary systems that are taken for granted in most of the developed country.

This group of gifted people claims to have joined their forces in order to contribute to the developing of a new monetary system: transparent and free of government intervention.

Their aim is to educate as many people as they can, so bitcoin can become more popular and thus be used at a larger scale for the purchase of goods and services, as well.

The pursuit of regulatory development is also one of the Bitcoin Center’s target as it could give bitcoin businesses in New York increased legitimacy. Lack of legislation had been one of the weak spots of cryptocurrencies and users are waiting for some improvements in that area. Since the whole idea of a digital currency is to exclude the government intervention, it will be a tricky thing to do. On the other hand, lack of legislation will raise worries about the system as some voices say that cryptocurrencies are used as a mean for money laundering.

As a whole, there is a group of ambitious and talented people that want to develop the bitcoin industry and enable more people to use this digital monetary system. With courage and hard work, they could really make improvements and benefit the whole industry.