The Leftover Bits: 11/5/15: USAA and Nasdaq Looking At Blockchain, Rand Paul's Tech Dream Team Includes Patrick Bryne

USAA, an insurance and banking company serving military members, current and former, and their families, said it's testing blockchain technology. The company isn't pursuing Bitcoin as a currency, Reuters reported, but exploring how blockchain could handle operations now managed through its back office using a decentralized system. A financial institution of USAA's scale examining blockchain is a win for the digital currency space.

NASDAQ has begun testing blockchain in its pre-IPO marketplace that launched last year. Bitcoin advocates have said since near the beginning that stock exchanges could operate on blockchain. The case is straightforward: if blockchain transfers Bitcoin, proper code can transfer any asset. Wall Street could operate on blockchain.

Dr. Ed Felten, a computer scientist and public policy professor at Princeton, accepted the job of Chief Technology Officer at the White House. The appointment came late in Obama's presidency, but Felten's experience makes it significant. He has discussed Bitcoin on C-SPAN, defending the technology against its critics. The White House didn't highlight his views on digital currency in announcing the hire, instead framing his role as advising the president on technology and innovation. How Felten influences the administration's approach to Bitcoin could matter for cryptocurrency's future in America.