Matt Levine, Columnist

Bank Backups and Space Bitcoins

Also petros, CryptoKitties, Fedcoins, Wu-Tang albums, Picassos, Excel, Uber, and 100,000,000,000,000.

December 4, 2017 at 2:50 PM UTC

Matt Levine is a Bloomberg Opinion columnist. A former investment banker at Goldman Sachs, he was a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz; a clerk for the U.S. Court of Appeals for the 3rd Circuit; and an editor of Dealbreaker.

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Should banks back up their hard drives?

Here is a story about things with names like Sheltered Harbor and Quantum Dawn and Operation Waking Shark, the gist of which is that banks should keep copies of their data somewhere safe in case they get hacked. Sounds good. We talk a lot around here about the fact that "blockchain," in addition to describing a specific technology, is also a useful magic word to get senior bank executives to focus on boring back-office technology. I suppose that experience is generalizable: