bitcoin final

Bitcoin: risk factors for insurance 26ConclusionCryptocurrencies such as Bitcoin could play an importantrole in transforming financial services and otherindustries that many feel are ripe for disruption.Investment in the Bitcoin ecosystem of start-ups to datetotals over $660 million, which is roughly on par withthe level of early stage investments in internet start-ups 32 .This strong showing of support from the venture capitalcommunity indicates the very significant economicpotential seen for cryptocurrencies.However, there are no clear solutions on the horizon forsome Bitcoin risks, such as the currency’s price volatilityor technical vulnerabilities like a 51% attack. Individualsand institutions that are seeking to participate in theBitcoin economy must take into consideration a widerange of risk factors that come with Bitcoin’s innovativebut still maturing ecosystem.Lloyd’s Emerging Risk Report – 2015