Our technology is and has rapidly changed, especially over the past thirty years in particular. Who would have imagined back then we could hold a little device in our hands and speak to anyone in the world.
The internet for example has been a revolution in communication, like nothing since the printing press itself, it has taken old media a long time to catch on, those who have hitched their wagon to the Internet juggernaut have continued and prospered, those who have stuck with old media are dying or are gone.
Online retail stores like Amazon and eBay have changed the way we shop and how we transact financially through electronic means. Online transactions through Paypal have created an online market that didn’t previously exist. I remember the days when no one would use a credit card online. Honestly Amazon deserves the credit for Changing that mindset.
So here we are at the beginning of a new financial age, Bitcoin is going to change the world in ways I suspect we haven’t thought of yet. In the last month in particular all the naysayers have gathered in force telling us “The sky is falling”, “it’s the end of the crypto currency”. Even the great father of all things financial Mr Warren Buffet said Bitcoin ‘definitely will come to a bad ending’, Business Insider “.
However unfortunately for people of a similar ilk and mindset, they are perfectly trained for a system that will eventually go the way of the dinosaur. I certainly mean no disrespect to those who think different, it’s just that few people have that insight that can see something amazing, before it’s already amazing.
Just imagine if you had invested in those two geeky looking guys working out of their garage (Jobs and Wozniak) with that weird name Apple. Or Sergey Brin and Larry Page as they met in no doubt the Cafeteria at Stanford University. Hind sight may be 20/20 but foresight is mystical and legendary the kind of things that become business mythology.
The benefits of crypto currency are not lost on those who understand what the Blockchain and similar ledger technologies represent. Decentralised, global, and fast transactions. This will be the beginning of a new age especially for the “unbanked”. Banks in general are a great idea, especially if you own them. But for around two billion of our global citizens, those facilities are just not available or affordable.
Crypto currencies will initially fill the gap between the haves and have nots. Assisting many of those in what we currently call the “third world” to join a thriving economic community, where they are able to transact almost instantly using little more than that wonderful hand held device i mentioned earlier.
This is not the end my friends, but the beginning maybe a Renaissance era for financial systems globally, you might tell your grand children “I was a part of that change, I had a little foresight to see something new on the horizon, that most people missed at the time”.