The Internet Of Money
Last night I watched a speech by Andreas M. Antonopoulos, which I highly recommend to anyone looking to start venturing into the cryptocurrency industry. I think we all know how difficult it can be to explain Bitcoin and the blockchain technology to people who haven't delved into the details of the crypto space yet, so I would suggest you to watch this video if you haven't already, and share it with anyone seeking information regarding the space.
In the video Andreas himself expresses this very same notion, but then goes on to share profound insights like no one else, making this a very interesting speech to watch for anyone interested in the cyptocurrency industry and the ways in which it can reshape our lives, regardless of one's knowledge and experience of the game.
According to Andreas, "Bitcoin is not just a currency, but it is the platform for trust", in a world where money is the oldest technology we have and even precedes writing. Andreas believes that Bitcoin is not money for the internet, but the internet of money, hinting that the real value behind this decentralized, peer-to-peer system is the network it creates itself, and the freedom of communication tied to it.
He goes on to explain that money is actually a "linguistic abstraction that we use to communicate value to each other", which not only has economic consequences, but also social and hierarchical consequences. That basically means money is a measurement unit of value that can also be used to create social bonds, and the various currencies used to express value can be perceived as different languages invented to enable the communication between different parts of the world.
That is a very insightful way of looking at things, and it hints that the cryptocurrency industry has a bright future ahead, as Bitcoin and competition are already providing the people with a globally understood language they can use to communicate value to each other, without having to trust the corrupt governments and greedy bankers who have been stealing from them. And the best part is no one has control over the flow of information in the system.
There are no central authorities, so no permission is required in order to transact and communicate. The network is empowering the people, who are now acquiring the same powers that institutions of banking have always had, and a smartphone device is all that's needed to take part in the revolution that is going to reshape the way we perform transactions on a global scale.
The blockchain technology unifies the various systems of payment, just like the internet unifies the various systems of communication, making it possible to perform transactions in a matter of minutes and in some cases even seconds, as we all know is the case with HIVE and LEO. The rules are the same for all users of the network regardless of location, and no permission is needed whatsoever.
The internet of money enables humanity to develop applications that previously used money systems could never support, because the very basis of the system can be used to create other tokens which can be used as expressions of loyalty, affiliation or even ownership. Imagine a public ledger allowing you to send the title for the house you just sold to another user in a matter of seconds. Tokens that represent real-life items is the next step, and we can't even begin to imagine what applications we will design around this technology in the future.
The truth is that consuming more information about the cryptocurrency game makes me even more optimistic about the future, but I still don't seem to be able to convince the people around me to join this revolutionary movement and take advantage of an early lead. The space has been growing exponentially but it's still very early in the game, and you will certainly agree with me if you hit the street and start asking random strangers what they know about crypto and the blockchain technology.
Of course this is a positive sign, as it means I will have the opportunity to improve my position in the game and take advantage of the shift in power we are fortunate to witness. However, the real value of the network lies in the communication taking place on it, which means we have to onboard as many friends and relatives as we can, so I won't stop spreading the word and trying to convince my people to be part of the movement.
When the internet first came out, it was used by a few and considered a safe haven for criminals, but a few decades later it has completely transformed our lives, offering opportunities never seen before, and acting as a catalyst for advancement, be it scientific, financial or technological. The internet of money was only invented roughly 12 years ago; I guess you can imagine where I am going with this.
Thank you for your attention
Alright guys, that's it for now. I sincerely hope you learned something new today. Thank you for taking the time to read those lines.
Just my two cents. This is by no means financial advice. Just sharing my personal views and experiences. Please do not take my word for your investment choices, and always do your own research.
Stay safe and have a good one,
@lordneroo
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Excellent, excellent article and yes I believe that you are so correct. Governments, banks, corporations will have to adapt or be swept away in a tidal wave of openness and transparency. Bring it on....
I don't think people want to become a Rocket Scientist, in order to spend their money... They just want to Swipe their Debit Card, Type in their Secret Code and get a Receipt... Start thinking U.S. Electronic Coinage... It will be a Game Changer...
February 10, 2021... 19.8 Hollywood Time...