The Bitcoin Technological Revolution
Which Phase Are We In?
Bitcoin, blockchain technology, and cryptocurrency, in general, allow for the complete automation of the financial world. With the infrastructure built around Bitcoin, everything will be done in the background enabling more liquidity and accessibility to people. This will create a more decentralized financial world taking what used to be highly complicated transactions and distilling them down to simple clicks. People will have unprecedented freedom in the next technological revolution.
Technological Revolutions and Financial Capital: The Dynamics of Bubbles and Golden Ages by Carlota Perez is an academic book that seeks to describe the connection between technological development and financial bubbles as seen in the emergence of long term technology trends. Perez believes the deployment of an enormous wealth-creating potential brought forth by each technological revolution requires an adequate socio-institutional framework. This framework, where both financial and production capital plays crucial roles, is carried on a recurring sequence about every 50 years by new entrepreneurs, risk-takers, and financial tycoons.
