Crypto Media

✅✅✅✅✅ Latest News and Analyses for Bitcoin and other cryptocurrencies like Ethereum NEO, Litecoin and ICOs.

Bitcoin – an Infrastructure Inversion

December 1, 2018 - Analysis, Tutorials - , , ,

Bitcoin is new. Bitcoin is different. When I use the term bitcoin here, I’m speaking broadly. What I’m talking about is decentralized network-centric platforms.

“Every time you have a new technology that is disruptive, in the first few years of its adoption it has to be carried by the existing technology that it is disrupting.”

..

Now, we have bitcoin. We have a decentralized trust platform that can do settlement of transactions on a global basis without intermediaries. But we’re still living in the old system. Today, we have to use exchanges tied to traditional bank accounts, or use IBAN transfers, or credit cards. Today, we’re riding the automobile along the muddy roads of banking. The bitcoin supercar, the Formula One of finance, is riding along on the muddy roads of 1970s mainframe-based banking, and it’s a bumpy road.

I predict, over the next 15 to 20 years, we’ll see a great infrastructure inversion happen in finance. First, the banks will resist. Then, the banks will adopt. The banks will run their systems alongside blockchain and bitcoin systems, and finally they will run all of traditional banking as an application on top of a decentralized trusted ledger.

What we’re part of now is the very early stages as we look at the future of money, and the first stages of the greatest infrastructure inversion the world has ever seen.

0 Comments
Would you like to share your thoughts?

Leave a Reply