It’s been around a decade now that Bitcoin has been in existence. In that time, the currency has grown from being a severely misunderstood product into one of the digital realms leading innovations of the 21st century.
Of course, there are many who would stand opposed to this opinion, touting Bitcoin as an irritant and a highly risky waste of time. Even prominent businessmen, politicians, presidents and others have tried to rubbish the name, but to little avail. Many of these naysayers have little to no dealings in the digital realms of business. They just prove that old school minds struggle to evolve.
Much of what we call industry is moving into the realms of the web. Online innovation is probably one of the best markets to be involved in at the moment because of the sheer universal reliance on all things digital. Anyone who cannot come to grips with working in IT in some capacity is sure to fall behind in the future.
The same goes for the banking industry. Blockchain technology holds an innovative secret to how banking should be done from now on. Being the forerunner in Blockchain, Bitcoin should be an asset that innovators are looking to, to carve a path for the future.
So, forget what all others say, whether they be the President of the United States, the EU, the US Senate, or any other ‘suit’ for that matter – rather listen to what the tech companies are saying. Samsung, Facebook, Visa, Mastercard, Vodaphone, Apple, Telegram, PayPal, Twitter, and so many more have had their heads turned by this technology. Each of them can clearly see the benefits of the blockchain and digital currency.
TWITTER CEO THUMBS UP
Last year, Jack Dorsey, the CEO of Twitter was a massive supporter of Bitcoin, to the point that he began to look at crypto as a viable opportunity for his digital payment company, ‘Square’.
While his support for Bitcoin has not waned, he is not oblivious to the fact that the coin is not fully functional as a currency. He goes on to suggest that the trade patterns are similar to assets such as gold, but that there is still quite a bit of work to be done to get the currency to where they want it.
What is very pleasing to Bitcoin punters is the fact that when he talks about the functionality of Bitcoin, he includes himself into the mix by using words like “us” and “we” when referring to those who are tasked with the job of making BTC more usable. He is convinced that Bitcoin will become a more widely used currency and seems dedicated to helping that happen.
Jack Dorsey is more of a supporter of true cryptocurrency, then he is of projects, like Libra, where the funds will be more centralised. In support of cryptocurrency, he says, “Open internet standards serve every person better than ones controlled and started by companies.” This statement rings true when we realise that businesses are in it to make money, while decentralised systems seek to serve no master.
In the crypto-space, Bitcoin has shown itself to be the most resilient of the currencies, having lasted 10 years and has established a strong brand that is well recognised internationally. Dorsey sees it as the most likely candidate to take up the title of the internet’s universal ‘money’ and has seen first-hand what it can do. In the second quarter of 2019, Square managed to generate $125 million in Bitcoin revenue alone.
Twitter is a highly successful social media platform that has risen to prominence based on its innovative way of meeting the current needs of the public as a micro-messaging platform. It is built on brains that are adequately adept at defining the future for us in the digital space. It is therefore imperative that we listen to the opinions of people like Dorsey instead of regulatory naysayers and politicians, who are barely qualified to pass comment.
Bitcoin is already a widely used currency in the online gambling industry, which is not an insignificant fact, as online gambling accounts for billions of dollars in revenue each year. The crypto slice of the gambling pie is ever increasing, as operators are starting to see the perks that decentralised currency brings to their operations.
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