Source: The Economist
While many see Bitcoin as a fab, blip, or an annoying phase in finance. The “brains” are researching the technology to see the true potential of BlockChain. Many are researching a way to for “seamless transactions”(no currency fluctuation and credit card fees) that BlockChain may allow. Many are having very healthy debates about the future of technology. Banks and Credit Card companies see the benefits of having a secure but open ledger system but it is still too complicated for management or the public. I truly see the future of having a truly global currency without national governments interfering.
One application of Bitcoin which The Hamilton Institute agrees with the experts. Using Bitcoin, to stop the chaos that happens with crashing currencies and national disaster areas like earthquakes or civil wars. Blockchain tech can be used to dissolve and counter the Snowden effect on tech companies, governments, and civil society groups. We are becoming more aware and sophisticated where the guild lines of the past no longer apply. The Snowden effect has caused a lot of damage and trouble for American Tech Companies. This could be used to move to privacy debate to Anonymity which will match where we are in this technological period.
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Founding Purpose: “We the people of the United States, in order to form a more perfect union, establish justice, insure domestic tranquility, provide for the common defense, promote the general welfare, and secure the blessings of liberty to ourselves and our posterity.”
The mechanism for achieving this goal is Capitalism and Democracy.