Karl Kreder Ph.D
Aug 8, 2017 · 1 min read

The problem that Blockchain solves is the efficient organization and cooperation among humans over geographically diverse regions. This is typically done with money, however our current money in it of itself is inherently inefficient due to the number of intermediaries.

In terms of our current money system that “everyone understands”, I don’t think that characterization could be further from the truth. The biggest challenge to explaining Bitcoin or Blockchain is not people understanding it, but rather coming to terms with and understanding how our current money system works.

The long term reason to use Bitcoin is because of the central banks.

I appreciate that a person that blindly trusts Keynesian economics is calling me a fanatic, but there is so much to unpack here I don’t have the time to respond specifically. I would encourage you to read articles on the money system and economics published by the Mises Institute.

    Karl Kreder Ph.D

    Written by

    Cofounder of GridPlus.io, Building the future of energy on blockchain