Replace if cryptocurrency money? Unexpected response of a supporter of Bitcoin

Dedicated supporter of Bitcoin Andreas Antonopoulos decided to raise several issues regarding the adoption of cryptocurrencies and the evolution of the concept of money. During a blitz session on Bitcoin Congress in Warsaw, he said that traditional financial institutions will be “bad” to adapt to transformation-induced formation of digital assets. In his opinion, soon the concept of restraining other people of Central enterprises will become obsolete.

Soon it will turn into a hobby the aged financiers. Something like owning your own horse.

According to Andreas as soon as working in the traditional financial system people are aware of the opportunities of decentralization, they will immediately leave their posts. The reason is the bulkiness and the rigidity of centralized institutions, which will be simply nothing of interest to the creative modern people.

Ambcrypto writes, while discussing the adoption of digital currencies Andreas admitted that to completely do away with centralized systems is not yet possible. However, he urged people to take cryptocurrency wherever possible — for any goods and services provided by the human person. According to the supporter of Bitcoin, it would make a huge step in terms of adoption.

This technique is not meant to radically change the concept and mechanisms of money. Unlikely to be a virtual currency that will replace conventional money. Rather, it is more like a flexible interchangeable and equivalent exchange, which will produce a special algorithm in your wallet, picking up the best deals.

Are there any cryptocurrencies something besides money? In response, Andreas said that while the developers do not really have identified possible areas of use of technology in the future. Instead, the market decides which version of its application better. Moreover, the replacement of money does not mean undermining the current banking industry. More data look at cryptodata.

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