Will people’s trust towards digital currencies dramatically increase in the future?
The National Assembly of Ecuador has effectively banned bitcoin and decentralized digital currencies while establishing guidelines for the creation of a new, state-run currency.
Voices of Liberty’s Joe Gressis speaks with economics professors George Selgin and William J. Luther, and cryptocurrency enthusiasts Andreas Antonopoulos, Amanda Billyrock and Mark Friedenbach regarding the the future of money and how cryptocurrencies could affect the global landscape.
With advent of new digital currencies such as Bitcoin, their acceptance rate is growing rapidly with each passing day. People are even starting to use bitcoins not only for online purchases, but also in the offline world. For example, in many places you can now pay for a hotel room or cup of coffee in a café with bitcoins. According to coinmap.org, there are currently around 5,000 offline places where you can spend your bitcoins, and that number is quickly growing. Bitcoin software development is also moving forward by leaps and bounds, with many different wallet applications available today.
Richard Gendal Brown, IT-Architect for IBM UK in charge for innovation in banking and financial markets, discusses why the payment card system works the way it does – and why Bitcoin isn’t going to replace it any time soon.
Cointelegraph.com features Torsten Hoffmann, the German-Australian producer and director of the documentary “The End of Money As We Know It”. His article on what the Bitcoin community can do to improve the image of the cryptocurrency recommends a pragmatic approach: