BITCOIN AND THE MARCH TOWARD A DECENTRALIZED FUTURE

In a brilliant essay on Bitcoin and the promise it holds for a decentralized future (published on the Pirate Party founder Rick Falkvinge’s website), Nozomi Hayase explains the disruptive potential of Bitcoin.
Bitcoin could change the remittance industry as we know it, revolutionize banking and redistribute economic power to the under-privileged. It could also transform the current global political hierarchy.
The author begins her essay by addressing the concerns of skeptics who claim that Bitcoin is in the hands of a tiny elite, which could eventually replace the bankers of the present financial system. One of the solutions that have been suggested is to provide everyone living on earth with an equitable amount of coins, something that due to time and financial constraints is not practical.
Decentralized Organizing
Bitcoin enables a concept called decentralized organizing. Until recently this is a concept that was mostly confined to books on libertarianism and anarchy. However, the idea has been given new life through recent movements such as the Occupy movement, which spread in cities around the world.

This post was published at Crypto Coins News on September 30, 2014.

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