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Bitcoin revolution wins over world

Bitcoin embassy in Warsaw. Photo by Patrick Young
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Economy, Finance, Japan, Russia, USA, Virtual currencies
Things may be more incremental in terms of acceptance, but the bitcoin revolution continues apace.

Bitcoin embassy in Warsaw. Photo by Patrick Young
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Bad regulation involves hacking babies in two before considering the consequences. Good regulation appreciates that the world changes.

The last year/century was appreciably different to the current one, let alone the future age of whose technological marvels we are barely worthy to evaluate, as nanotechnology reshapes our world. Wise regulators act accordingly.

In the world of bitcoin, the first reaction of the government sector was largely one of fear and confusion. Then again it was ever thus with innovation. Early underground trains were mandated with frosted windows lest ladies fainted at the sight of tunnel walls speeding by. On both sides of the Atlantic, governments demanded somebody must wander with a red flag ahead of any self-propelled automobile.

The arrival of a popular electronic currency in the form of bitcoin was a huge step. With a paucity of private sector folks pondering electronic money a decade or more ago, the government nexus had not considered just what would happen when the kindling of alt money finally caught light. Thanks to the block chain, bitcoin has not merely lit the fuse, it has blazed a trail, creating a whole new currency infrastructure which is already being used for all manner of exciting processes.

Bitpesa, to name but one, threatens to transform payments to the emerging world – creating a vast saving for those who have until recently been slaves to the somewhat Dickensian western systems. Every dollar saved on transfers means more money reaching the relatives of migrant laborers in the emerging world, delivering a palpable boost to living standards where every cent counts.

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This entry was posted on July 7, 2014 by .

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bitcoinvancouver2013@gmail.com

bitcoinvancouver2013@gmail.com

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