Unbitcoin Plays

&l;p&g;The February 28 issue of Forbes profiles a computer scientist who aims to make the world of crypto transactions more transparent (&l;a href=&q;https://www.forbes.com/sites/michaeldelcastillo/2019/02/04/navigating-bitcoin-ethereum-xrp-how-google-is-quietly-making-blockchains-searchable/&q;&g;&l;em&g;Googling Blockchain&l;/em&g;&l;/a&g;). How does an investor make a bet in this turbulent field?

More searching and more transparency are not going to save bitcoin, which, helpful as it might be for tax evaders and drug importers, is next to useless for everyday transactions. The search for winners in a world of digital money should, instead, veer more into the mainstream.

&l;strong&g; Mastercard (MA)&l;/strong&g;, &l;strong&g;Visa (V)&l;/strong&g; and &l;strong&g;PayPal (PYPL)&l;/strong&g; are obvious candidates. Near-field communication makes &l;strong&g;Apple (AAPL)&l;/strong&g;, with Apple Pay and &l;strong&g;Alphabet (GOOG)&l;/strong&g;, with Google Pay, into banks. &l;strong&g;JPMorgan Chase (JPM)&l;/strong&g; is getting good at digital wallets. Finally, I see &l;strong&g;BlackRock (BLK)&l;/strong&g; as a potential issuer of digital cash; someday, when inflation returns, it could compete with the U.S. dollar with an iShares blending gold and Treasury bills.&l;/p&g;