Blockchain - Euphemism For People That Don’t Understand Bitcoin?
Central authorities and major financial institutions responded to the emergence of Bitcoin by targeting the development of its underlying technology in attempt to distract the real value of the digital currency. Experts have criticized the desperate attempts of banks in adopting the technology, describing that blockchain is a euphemism for people that don’t understand Bitcoin. Since 2015, banks have poured hundreds of millions of dollars in capital and a significant share of their resources for the development of private blockchain networks. In an awkward series of events, the blockchain....
Related News
An understanding of what bitcoin is, how it works and its various features and benefits have, in the bitcoin space, traditionally been viewed as a key component of mainstream adoption. How can the general public be expected to switch from things like PayPal, fiat, Visa etc., if they don’t understand how what they are switching to works? There is some common sense in this view. Individuals who lack an understanding of cryptocurrency are more often than not intimidated by its seeming complexity, and this puts them off using it to transact. The conclusions of a recent study, however, go....
The more people understand the blockchain, the more we will see a proliferation of useful cases for it. Just like any technology, those who invent it have not necessarily thought of all of its applications, which is why I believe that the best use cases are yet to come from a growing number of entrepreneurs and subject-matter experts that have deep expertise in a particular field or domain. But, the first step is to have a fundamental understanding of how blockchain technology is different from what we are currently doing today. Almost everything in life is about taking evolutionary steps.....
Xapo CEO and founder Wences Casares explains the history of money in a Big Think video about Bitcoin. His explanation of the history of money is below. “Bitcoin is a new digital currency that is perhaps the best form of money that we have ever seen. It’s important because most of us don’t understand money very well and perhaps the concept that is harder for us to understand is that money is and has always been a ledger. …the best way to understand money is to understand the history of money.
Introducing Bitcoin to the family is no easy task. The same goes for close friends and sometimes even your partner. The discussions can be daunting and sometimes fall to the wayside. Some even find their way into ridiculous theories of absurdity. Why is it so hard to explain Bitcoin to others? Most likely it is because people don’t understand the concept....
Technology pioneer and founder of the anti-virus product, John McAfee, has claimed that there is a need for a major shakeup in cryptocurrency security to prevent the virtual money world from crumbling. This is despite his view that there will be a cryptocurrency standard for the world soon whether governments like it or not and tracking money flow would be difficult as well as the irony created by cryptocurrencies being powered by blockchain – considering its various real-world use cases in various sectors – as a system built to give anonymity also being used to identify. “Security is the....