How Decentralisation Will Change Everything We Know
Will Bitcoin become the currency of the future? There are a lot of ‘Avatars’ out there predicting cryptocurrencies are going to be the money of the future, but there are a few doubts. Recently Elon Musk came out talking up Bitcoin. But why didn’t he talk up investing in silver? Because if he did, and everyone else invested in silver, it would push the price of all his cars through the roof. Every vehicle needs elements of silver so if the price went up astronomically, they’d be unaffordable. So, money as we know it is being taken away, fake or alternate currencies are being brought in and we’re now at a point where we’re trusting digits on a ledger and we’re seeing cryptocurrencies go mainstream.
Cashless and powerless
We are heading towards a cashless society. It could be this year or soon afterwards. Just look at all the bank branches closing down. Where are they going? They don’t need the branches, they need people able to use technology and the applications.
Already there are instances where you don’t have access to your own cash. If you go to one of the banks that’s left these days and ask to withdraw your money in person, you can be met with resistance. Ask to withdraw $10,000 and they will ask what you want it for.
You think it’s your money to do as you wish with but that’s not exactly true anymore. People are starting to recognise this and show more interest in decentralised currencies like Bitcoin.
When used for good
Bitcoin and its ecosystem has great potential. The upside is that it gives people the potential to be able to trade outside the centralised system. To be able to get into business or start a new business without having to go to venture capital companies or to banks. People can use ICOs (Initial Coin Offerings) to raise capital, instead of going to a Wall Street banker and asking them for money. There is a massive world out there and cryptocurrency is a bit like the internet back in 1994 before anyone knew its capabilities.
If it’s used correctly, we could see decentralisation in media, in governance, in financial systems, property transactions, with utilities, with identity, corporate governance, data and other places. If more people start using things like Bitcoin or Ethereum and trading them, using them as currency rather than storing them, there is the potential people could get outside the system and have a totally separate economy that they’re working in. It is an opportunity for new commerce to emerge, for everyone to have freedom and control over their assets and the freedom to unplug from the matrix and the whole system that we’re in.
But in the wrong hands
Unfortunately the centrally controlled system is trying to hijack the potential of cryptocurrencies and even pretend that they’re like cryptocurrencies by launching their own ones. We may soon see some kind of Aussie dollar coin, or Fed coin from the US; a government backed, certified, centrally issued and controlled version. People will buy into it unknowingly.
Everything is being manipulated these days. Look at social media, the President of the USA was deplatformed from social media because they didn’t like him. There’s a war on people’s psychology and intelligence at the moment and, while things have always been manipulated, it’s becoming more so. A good step in the right direction is to use decentralised platforms. There are many out there for social media and they will have value as long as people want to get on and maintain their freedom. And currency is the same, if you don’t want governments to be a part of every transaction you make.