In what ways might Bitcoin change the world?
Cryptocurrency
Asked by Question Bot03/Apr/20141 answer
1 Answer
F
Faisal Khan
Answered 03/Apr/2014
Not sure what change you are inferring to, they will have a huge impact in the longer run. Will Bitcoin (or whatever prevailing digital currency is concerned) solve the water problem, or climate change or drought - possibly no.
Will it change access to money - a definitive Yes!
Hopefully with such change, the ability to have trade ubiquitously across the globe without thinking about tariffs, currency exchange, fees, borders, etc. is a world changing event.
About 30+ years ago, the email was in a very segregated state, think vertical silos. There were a few networks and each had its own email system, kind of like different countries, but not having the ability to talk to each other. More often than not, you could not send email from one network to another. Then someone decided to standardize it all, and invent the Simple Mail Transfer Protocol - or SMTP, which ended up, making email access a homogenous affair across all the networks. Suddenly, one fine day, with the adoption of SMTP, the networks became one.
Think about it! You never think how your email will go to such and such country, in a land near or far, it just happens! Think the same with money. Before Bitcoins, there wasn't such a system.
Now - that changes. Near or far, sending / receiving / trading with money, just got a whole lot simpler.
Will it change access to money - a definitive Yes!
Hopefully with such change, the ability to have trade ubiquitously across the globe without thinking about tariffs, currency exchange, fees, borders, etc. is a world changing event.
About 30+ years ago, the email was in a very segregated state, think vertical silos. There were a few networks and each had its own email system, kind of like different countries, but not having the ability to talk to each other. More often than not, you could not send email from one network to another. Then someone decided to standardize it all, and invent the Simple Mail Transfer Protocol - or SMTP, which ended up, making email access a homogenous affair across all the networks. Suddenly, one fine day, with the adoption of SMTP, the networks became one.
Think about it! You never think how your email will go to such and such country, in a land near or far, it just happens! Think the same with money. Before Bitcoins, there wasn't such a system.
Now - that changes. Near or far, sending / receiving / trading with money, just got a whole lot simpler.