Fashion and BitcoinsWill Matthew

Mellon II shape the future of the online

currency?

In late 2014 we observed a truly unique phenomenonthe rise of #bitcoins. It seems as if

overnight the Chamber of Digital Commerce (CDC) skyrocketed its influence in the world of
monetary assets. Matthew Taylor Mellon II was chosen to be the executive chairman of the
committee and is expected to shape the future of the organization.
Looking at Matthews background, it is quite obvious why he was voted for the position with such
confidence. A legacy of commerce and banking is embedded in both his and the Drexel family;
their history of banking can be traced to 1869. Matthew Mellon II was chairman of the finance
committee of the New York Republican party. Proclaimed by Ed Cox, a state chairman in 2011, he
established even more influence and credibility after taking a major share in a series of startup
businesses.
Fashion Investments
Matthews work with Jimmy Choo, and especially the design of lines such as Hanley Mellon,
Marquis Jets and Arrival Aviation, are yet more reasons for his fame and renown. Driven by a mix
of both entrepreneurial opportunism and a passion for style, Matthew serves as an example that
business and finance can be just as creative. One of his more lucrative investments was for the
Degrees of Freedom clothing line with his romantic partner at the time, actress Noelle Reno.
The future of Bitcoins

With established credibility in the circles of finance, it was a positive sign for many investors when
Matthew publicly expressed his enthusiasm during the rise of Bitcoin. As a co-founder of Coin.co,
one of the more famous bitcoin payment platforms, he definitely had his hands shaping the future
of the phenomenon.
Acting as Chairman on a voluntary basis, he has publicly shown his continuing support for the
industry, especially being one of the first to get involved in it. In the words of CDC President,
Perianne Boring, in front of CoinDesk, The digital asset industry has serious challenges to grow
and overcome, from Washington to Wall Street. Matthew Mellon has the experience, knowledge
and network that bridges these worlds due to his years of work in the financial industry and as a
leading voice in shaping public policy on digital assets.
Furthermore, The Hill has expressed confidence in Mellons ability to lead the organization and in
setting the public policies for currency-related matters in Washington.
Making Matthew a new chairman was a sound strategic move. His success in both banking and
fashion, two industries that are poles apart, is evidence enough about his ability to be flexible and
innovative. However, it can be argued that his background in finance is much more important in
this case. To a large extent the main issue with bitcoins is related to the banking resource
shortages that are met by bitcoin startups in the US. The reluctance of banks to finance the sector,
especially with such levels of volatility, has only been worsened by unstable politics regarding
regulatory matters. This lack of funding opportunities is precisely where Mellons experience can
prove useful.
Matts work with Waters
Matthew is not the only financial guru and millionaire thus far who has shown interest in the rise of
bitcoins. He was, in fact, introduced to the industry by the Winklevoss twins who connected him to
Alex Waters, a former Bitcoin developer. As a chief technology officer of BitInstant he had both the
financial and technological expertise to make predictions about the virtual currency. It was with
Waters at his side that Mellon started his campaign to transform the Bitcoin World into something
more legitimate.
Their combined vision is embodied in a tracking system for owners of the currency, that is
supposed to find and neutralize foul players. The result would be a dataset consisting of the
identities of account owners, which would serve as a network for law enforcement personnel to
find out who are misusing the abilities of the Bitcoin. In addition to that it would also serve as a
warning for organizations that are planning to take on customers who use the currency.
Are all these efforts in the name of financial success? Not according to Matthew. He points out that
today there is a large degree of distrust and conspicuous behavior among organizations in the
financial industry and the government. In his opinion a stable virtual currency can be a mutually
beneficial solution. In his own words to Fortune magazine, The banks are going to be scratching
their heads.

Note: This article appeared on The SohoLoft with this link http://thesoholoft.com/fashion-andbitcoins-will-matthew-mellon-ii-shape-the-future-of-the-online-currency/ on Jul 6, 2015

David Drake is the Chairman of LDJ Capital, private equity advisory; Victoria Partners, a 110
family office network; Drake Hospitality Group; and The Soho Loft Media Group with divisions
Victoria Global Communications, Times Impact Publications, and The Soho Loft Conferences. Reach
him directly at David@LDJCapital.com.
Read more of David Drakes writing on Bitcoins:
http://thesoholoft.com/a-brave-new-crypto-world-by-david-drake/