The Business of Blockchain 2 of 3: Bitcoins role within the next global monetary system

Humanity is transitioning to a new era of global connectedness. Our global systems are stressed, and there are signs that we may be on the brink of another global recession: the US 2-year and 10-year bond yields inverted recently, which it has done so before every recession since the 1980s¹, the IMF projects 2020 to have the lowest global growth since 2008–2009², and governments around the world are ignoring the principles of economics and omitting the time value of money by issuing negative-yielding bonds. Technology often plays a role in systemic change and bitcoin is poised to be an influential component of the next systemic transition.

What kind of systems do we live in?

Naturally, human beings are disorganized without structure. People, corporations, cities, and countries all have systems in place to organize themselves to increase their productivity or economic output or to achieve a goal, meet a target, or meet a partner. As a society, we have had civilizations based on feudalism, mercantilism, monarchism, communism, capitalism, conservatism, and socialism among many others in various forms.

But things change; towns become cities, corporations merge, countries move borders and eventually, the systems we have put in place fail to achieve…