In the last 15 years, many industries were turned upside-down by the rise of peer-to-peer technologies for sharing information. Napster changed the face of the music industry. Search engines allowed everyone to find information in an instant. Social media networks allowed us to form virtual tribes and start huge movements. All of these were disruptive technologies: they offered a new paradigm for producing and sharing information. Unlike the broadcast era, suddenly anyone could produce, share, and spread information.
We are experiencing another shift right now, and it’s one that involves currency: enter Bitcoin.
Bitcoin: Disruptive Crypto Currency
This open-source system for exchanging value is not only getting recognition among geeks. Business big and small are beginning to accept it as a legitimate payment source. There is a growing number of startups being built around it. And even though there are those that continue to discredit it and discourage people from acquiring it, they can’t stop it. Bitcoin may be the Myspace of crypto-currency, and there may be a better technology that comes along later, but it’s changing the way we think about money. Bitcoin is an entirely new paradigm – a decentralized global currency not controlled by any governing body.
In this episode, we talk about the advantages and downsides to Bitcoin, and what role this kind of system will play in the future society. We discuss decentralization and how this crypto-currency can be a platform for other exponential technologies. We also explore the possibility of a near-zero cost economy, equal access to basic needs and guaranteed income, and creative self-expression being the key value that human beings will possess in this kind of world.
In this episode of The Future Thinkers Podcast:
- Bitcoin and its advantages and problems
- The 6 Ds of exponential technologies
- Decentralization and its effect on the future
- The technologies needed to bypass archaic systems in society
- What value human beings will possess as technology progresses
- Why our current skill sets may not be important in the future society
- The need for a basic income guarantee in a world of open-source platforms
Mentions & Resources
- Bitcoin FAQ
- Silk Road, an online marketplace infamous for people buying and selling drugs
- From Deceptive to Disruptive by Peter Diamandis
- Bitcoin Lacks ‘Credibility and Trust’, according to U.S. SEC
- Genuine concerns and issues
- A list of companies that accept Bitcoin as payments
- The Hype Cycle in technology
- Xapo, the first Bitcoin debit card
- Mastering Bitcoin
- What is Bitcoin & Why do Banks Fear It?
- Related subReddit
More From Future Thinkers:
- Ethereum and The Decentralized Future with Vitalik Buterin (FTP016)
- The Death of The DAO and Codifying Ethics (FTP029)
- What Happens When We Give People Basic Income? with Scott Santens (FTP031)
- Blockchain – Building Blocks For a New Society with Vince Meens (FTP033)
- Possibilities of The Blockchain (FTP041)