Listening to the leaders of blockchain is wise if you’re not currently employed with them. What the world is undergoing due to cryptocurrencies is no longer a matter to mock. Investors and Wall Street agencies are getting rich. Those with the largest investment returns have earned a place within the legacy of blockchain. These successful participants are whom you want to listen to. Their wise words and perspectives will make you wise and certainly change your view.
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PayPal Co-Founder Peter Thiel on Efficiency
When evaluating blockchain, its growing demand results in its need for efficiency. The world reaches a point where “basic” technology is defined by digital or mobile devices. Making these systems secure, surprisingly, calls for the breakthroughs that only blockchain has achieved in society. These breakthroughs forward market confidence and will later be guide to greater innovations. Here is the view spoken by Peter Thiel:
“PayPal had these goals of creating a new currency. We failed at that, and we just created a new payment system. I think Bitcoin has succeeded on the level of a new currency, but the payment system is somewhat lacking. It’s very hard to use, and that’s the big challenge on the Bitcoin side.”
Ethereum Co-Founder Vitalik Buterin on Free Economy
The fears that traditional workers have regarding technology do hold ground. In the case of blockchain, however, Vitalik Buterin believes that individuals actually gain power. The use of blockchain, itself, creates an industry. You not only have a market of new jobs to consider, but entrepreneurs now have a wealth of new solutions to discover. From the exact words of Vitalik:
“Whereas most technologies tend to automate workers … doing menial tasks, blockchains automate away [from] the center. Instead of putting the taxi driver out of a job, blockchain puts Uber out of a job and lets the taxi driver work with customers directly.”
Google CEO Eric Schmidt on Valuation
Accounting is what ultimately makes finance work. True accounting occurs in what’s called a zero-sum economy. This means that money, ideally, isn’t created. It’s earned, lost or spent. Money can be valued because there’s a set amount of it, so the market that it represents is accounted for. Achieving this accountability in digital currencies is not only possible but now proven. The framework of bitcoin is an example, but here’s Eric Schmidt’s view on the matter:
“Bitcoin is a remarkable cryptographic achievement, and the ability to create something that is not duplicable in the digital world has enormous value.
Riding the Trends Before They Fade Out
What millions fail to grasp is the inevitability of blockchain. Bitcoin might not survive as the sole digital currency of the world. However, it set in motion an ideal that will expand blockchain into society. The consumer not only wants crypto, but modern retailers accept its payment methods. You too are ready to invest once you clearly see how wireless money affects the world.