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How Bitcoin revolutionised our lives

17 March 2016 No Comment

canstockphoto18637182Life goes really fast. Sometimes it passes by so quickly that we cannot actually even feel how fast we are progressing. Take a moment and think how the world has changed within just the last decade. We are 3D printing replacements for vital human organs, sending rockets to space that come back in one piece and progressing in generally every possible direction.

FInancial services are not an exception too. Even though this industry has always been known as one of the most conservative, bitcoin and other factors are making the shift happen. Let’s take a look at how BTC has impacted the whole development of the financial systems and why these influence is truly a revolutionary one.

New money can exist

It has been a while since a new currency has appeared on the market. Usually new currencies were issued by recently developed countries. In other cases, a newer currency was just substituting a previous one. Yet it was nearly impossible to see new money appearing without a backup of any government. The bitcoin proved an idea that the world can accommodate a few more currencies.

Blockchain technologies

In IT and financial sectors the bitcoin as a currency wasn’t crucial. However, the technology of bitcoin, currently known as blockchain, is something that has completely changed the attitudes. Currently leading banks and other financial institutions are integrating blockchain technology to their core systems. Even if bitcoin depreciates and becomes nearly worthless, it will still represent a magnificent driver of the technological progress.

Enhanced anonymity

In times of NSA, it is often possible for people to pay more and more attention to their privacy, especially online. This is where bitcoin comes very handy. You can generally use bitcoin to pay for nearly anything you can imagine. Fast food, web-design or even bitcoin gambling, its usage does not know any limits. However it does keep your identity private. For example, if you top up your online casino account using your credit card, be sure that your bank knows about your gambling interests and will, most probably, make lending conditions not so favorable for you.

Conversely, when you are engaging in bitcoin gambling, you can be sure that it is impossible to connect your wallet with your identity, unless you have chosen to do so.

Summary

There are many aspects which bitcoin has revolutionized in our lives. It became a trading asset with billions of transactional volume daily, a typical currency that was used to settle online and then, offline, transactions. The usage of BTC ranges from paying for donuts at a local bakery to buying chips to experience a secure bitcoin gambling. Whether you own some bitcoin or not, rest assured that this currency is here to stay.

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