Bitcoin: It’s the platform, not the currency, stupid!
“The future will not be centralized! Democratization is the transfer of any kind of power from the elite to the crowd.
Bitcoin is the third democratization. The first was the Internet, it enabled the democratization of information. The second democratization started with 3D printing, it’s the democratization of manufacturing where factories become obsolete. They are no longer needed to build a product. Now we are on the break of a third democratising force. It’s the democratization of money and finance. No more monopolies that control our money and business. Bitcoin is about freedom.
In this new era where technology is transferring power to the people, the world of finance will be unbundled. Banks used to do everything. Now all kinds of startups are picking of services. Alexander Pease, a venture capitalist at Union Square Ventures, made a great slide deck in which he showed how companies are innovating in the world of finance. He calls this process the ‘disaggregation of a bank‘. In his opinion all kinds of startups are eating traditional banks for breakfast.
Within a few years we will see many new and different types of DACs – powered by initiatives like Invictus Innovations, Mastercoin, NXT, Ethereum – that will replace centralized commercial services such as Facebook, Twitter, Youtube, eBay, stock exchanges, Spotify, Netflix, ISP’s, Gmail, online sportsbooks, voting booths, SSL, cloud storage like Dropbox, and much more. …
The currency application of Bitcoin was version 1.0. The block chain is Bitcoin version 2.0. Bitcoin 2.0 is real capitalism. It enables a market with true self-regulating behavior, as Adam Smith ment with his ‘invisible hand’. Individuals can make profit, and maximize it without the need for government intervention.’Bitcoin 1.0 is monetarism 2.0 and Bitcoin 2.0 is capitalism 2.0‘ as financial pundit Max Keiser so eloquently said in one of his reports.”