In short, software is eating the world. Marc Andreessen
Software is indeed taking over the world …and the banking system is no exception. In 2009 an innovative new technology “Bitcoin” sparked a revolution in the financial industry and does to banking what the internet has done to publishers and media. For the first time in history a decentralized worldwide network of programmable money exists. We are at the cusp of a revolution similar to the dawn of the internet.
“Well, although it may be hard […] to grasp, Bitcoin represents nothing short of the digitization of trust. Bitcoin blockchain technology has turned human trust into an algorithm, an information science, allowing it for the first time to be immutably programmed into software. As a result, the Bitcoin blockchain technology […] eliminates, or at least significantly reduces, the need for certain trusted third-party intermediaries–brokers, exchanges, registrars, escrow agents, clearing houses, banks, etc.– by permitting these intermediaries’s business models to be hard-coded into inexpensive software that no central party controls or practically can control, not even governments.” [1]
Bitoin, world’s strongest currency in 2016 and 2015. (and 2010, 2011, 2012, 2013)
[1] https://steemit.com/bitcoin/@sean-king/calculating-bitcoin-s-worldwide-domination-day
[2] https://medium.com/@BambouClub/best-and-worst-performing-currencies-in-2015-d1e62088bc29#.73l8qmzc7
