Altcoins Talks - Cryptocurrency Forum

Crypto Discussion Forum => Cryptocurrency Trading => Topic started by: bosshyip on July 14, 2018, 08:34:19 AM

Title: Large Roadblock to Bitcoin being accepted by Large companies
Post by: bosshyip on July 14, 2018, 08:34:19 AM

I run a company of a little over 30 people.  We recently have stated accepting bitcoin as payment and ran into our first security issue recently.
It then occurred to me how incredibly difficult it will be for companies to manage their bitcoins.
With bitcoins,  it just takes one honest mistake,  or one dishonest action by any single person in the accounting department who has access to the bitcoin wallet to lose all of the bitcoins.   Many companies need hundreds of thousands or millions of dollars in checking accounts to take care of ongoing company expenses.

What steps can companies take to prevent one employee from transferring all of the money away?

What steps can be taken to prevent an accountant at Microsoft for example,  from stealing $100M worth of bitcoins in one shot?

Please give me your thoughts on security measures that companies will need to take to prevent the theft of all of their bitcoins.
Having the owner handle every single transaction personally is not practical for organizations of any size.
In order for bitcoin to become mainstream,  these problems will need to be solved.

Title: Re: Large Roadblock to Bitcoin being accepted by Large companies
Post by: CryptoZenWorld on July 14, 2018, 10:00:15 AM

Hi mate, We all are worried about this problem. But to solve this problem we need legal projection from govt. and also bitcoin has to be globally accepted everywhere with rules and regulations. What do you think? will it be globally accepted by our govt?

See, because without accountability this prob won't solve.