How Bitcoins Could Restructure the World

January 18th, 2014

Read my article in VentureBeat about how Bitcoins may restructure our civilization, and the need for advocacy to support this transition, if it is going to happen. Here’s an excerpt:

Bitcoin is a trend with all the ingredients necessary for changing the world. It spreads virally, funds its own growth, and can’t be controlled from any central point. Like the Web, it could eat the world.

Bitcoin could be the beginning of a massive transfer not only of wealth, but of power — a shift to a new social order. If you change the money system, you change the economy; that in turn changes society, government and industry. The shift to Bitcoins would be more than an economic shift, it would be a shift to a new social order — one built around a “freer market” economy.

Such a shift would be a lot more likely if a new grassroots organization were formed to accelerate, promote and protect the emerging cryptocurrency economy. By helping the cryptocurrency economy to fund its own evolution and defense, it would have a better chance of surviving the inevitable challenges it will soon face.

As this new digital economy emerges, the mysterious Bitcoin creator, Satoshi Nakamoto, could turn out to be one of the most important historical figures of our time.