I hate bitcoin’s name, aesthetics and….but
People often ask, “Well, what actual viable business use of blockchain can you point to?” I just point to bitcoin. Bitcoin was the first world-altering use of blockchain tech.This digital coin has produced a large number of obnoxious young bohemian millionaires, and is also being used as a payment system by about 1 in five banks on earth. It’s used by criminals to transfer money without detection, and by aid organizations in lower income nations. For instance, a US charity that provides glasses to people in need receives digital payments from its Nigerian partners in bitcoin, because it’s too cumbersome for the partners to transfer Nigerian naira or US dollars out of the country. On receipt, the charity in the US exchanges the digital coins for dollars. Personally, I find the aesthetics and culture of bitcoin off-putting. I hate the name. I don’t own any. Yet, there’s no denying the coin’s impact on our business and social evolution. There will be many more such advances coming off blockchains in the next few years.
