银行业：比特币猛于虎

    银行界为什么害怕比特币带来的影响呢？很简单，因为它会在整个金融行业掀起阵阵波澜，它将产生新的赢家和输家，它还有可能分散银行业务，形成微型市场——从某种意义上讲，自从易货经济和市场经济的优势合二为一后，还没有出现过这样的微型市场。实际上，这就是价值互联网的全部，也就是在所有市场中抹除物物交换、货币和服务交换的差异。只要每种潜在利益有了可交换、可存储的金融等价物，比如“比特币”，那么各种交易类型就会爆炸式激增，而目前的算法根本不可能预测这些交易的发展方向。中介会不断地出现消失，交易终端将变得更加重要。对许多银行家来说，这种想法令人生畏。但对其他人来说，这很可能带有相当强的自由色彩。

    显然，必须要有监管。没有监管，市场就不会稳定。不过，在颠覆性创新刚出现时就过度监管的国家会在这些创新带来的第一轮浪潮中落败。有多个国家似乎在朝着这个方向迈进，而美国首当其冲。这着实可惜。急于打压加密货币是徒劳无功的。（财富中文网）

    特隆德•温海姆是麻省理工斯隆管理学院（MIT Sloan School of Management）全球经济及管理高级讲师。他还创立了富有洞察力的网站Yegii.com，让企业可以接触到全球各种专业知识。

    译者：Charlie

    审校：李翔

    Why are bankers afraid of Bitcoin’s impact? Easy, it will lead to ripples across the financial sector, it will create new winners and losers, and it will likely decentralize banking services and create micro markets to an extent not seen since the advances of the barter economy and the market economy combined. In fact, this is what the Internet of Value is all about—erasing the distinction between bartering, money and service exchange in any market. Once each potential good has a financially tradable and storable equivalent, “a bitcoin,” if you will, trade will explode in a myriad of directions impossible to predict by current algorithms. Intermediaries will come and go, and the end points of exchange nodes will become more important. To many bankers, this is a scary thought. To everyone else it is likely quite liberating.

    Clearly, there must be regulation. Without regulation, markets are unstable. However, countries that over-regulate a disruptive innovation in its infancy will only lose out on the first waves of that innovation. Several countries seem to be heading that way, and the US is now in the front seat of that wagon. What a pity. The urge to cripple crypto based currencies is futile.

    Trond UndheimisSenior Lecturer in Global Economics and Management at the MIT Sloan School of Management. Undheim is also founder ofYegii.com, an insight network that connects companies to global expertise.