Bitcoin is to the financial industry what Android OS is to the mobile phone industry.
Between the 2008 and 2010 the mobile industry saw a transformative revolution which saw the entrance of the smart phone which came to dethrone the feature phone's. Today the finance industry finds itself in the same state as the mobile industry was in late 2010, as the conventional digital industry is under attack by the crypto-currency industry.
On one side of the divide were feature phones, with its high-end devices of Nokia, BlackBerry and Windows Mobile which boasted of user customizable interfaces and experience through their cutting edge OS, support for touch screen interfaces as well as third party application development.
With J2ME environment enabled on most high-end feature phone, users could access upto a million collection of Java apps ranging from games to utility and office suits. Game developers such as EA, Konami and Gameloft provided featured phone users with epic games including Medal of Honor, Super Mario and Fifa.
On the other side of the revolution stood Apple's iOS and Google Android OS and these two would change the mobile industry like never before. The iOS and Android stood out simple because they presented themselves as mobile computing platforms awaiting the development of applications from developers.
While feature phone were walled garden for app developers, iOS and Android largely relied on third party developed apps. The result is history: in less than a decade of the invention of the iOS and Android, they have both come to control over 90% of the mobile industry, with Android controlling over 80% of the smartphone industry.
Between the years of 2010 and 2017 the financial industry has been undergoing a similar change, this time it is between the crypto currency industry against the digital currency industry. Traditional digital payment industry and its giants are on the same side feature phones stood, while crypto currencies find themselves on the side the smartphone stood.
In the latter battle, the newer smartphone industry won and would this be the case in this cryptocurrecny verse the digital currency war this time around too?
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