- Posted March 22, 2014 by
Milwaukee Chicago, Wisconsin
This iReport is part of an assignment:
First Person: Your essays
As I do more and more research into this virtual world, I am gaining a lot of insight into the workings of bitcoin and the block chain. The implications are far reaching, more that just the virtual currency, Just for a instance you will be able to make a will, store it, this will then be a binding contract. Face it now or later, this is how business will be done in the future. This is a social experiment, and I can not say if bitcoin will be around in the future, but some form of it will be.
This is about to burst, I think a few years with the growing acceptance of this new form of economy you should start to see new jobs and business grow around the world. I do not pretend to know all the inner workings of this code, I like the people side of it. You do not have to know how it works to use it. No doubt there is security issues Like someone having a compromised PC A company Trezor is coming out with new technology right now to deal with this and I am sure other start ups are doing the same. This will make using bitcoin easy for your average user with out worry about loosing you money.
I have seen people leave comments calling this idea stupid and people that deal with it idiots. I simply call them closed minded, billions are now being invested into this idea . I am personally excited to be able to see how this grows and what it will grow into.
Bitcoin has been associated with bad things in the past like silk Road, The government was able to trace that and shut it down. I think most everyone will agree that this has been good for bitcoin, the more good that can be associated with bitcoin the more acceptance by the general public.
People will be able to see for themselves how much better it is to send money to most anywhere with out being charged a fortune for the transactions by let say PayPal or Western Union or thousands other companies.
Business has to adapt to what ever the future brings or face the possibility of being left behind, some country's have band the use of bitcoin and will even go as far as executing people for holding bitcoin, they are hurting themselves by doing this,and again will be left behind the rest of the world .
I am very optimistic about this social experiment and see a lot of good coming from it.
Visit me at FundingUnionReview.com our social experiment.