Bitcoin uses peer-to-peer technology to operate with no central authority or banks; managing transactions and the issuing of bitcoins is carried out collectively by the network. Bitcoin is open-source; its design is public, nobody owns or controls Bitcoin and everyone can take part. Through many of its unique properties, Bitcoin allows exciting uses that could not be covered by any previous payment system.
It’s the next battleground to decentralize industries (banking) and methods of exchange (money) through technology. It’s also the topic of the final Step off the Edge for 2013 with Bryan Vu of Google. Step off the edge with us as we discuss the concepts of zero trust, protecting the network, what makes a money, how long should money last, do bugs in banking software cost you cash and the importance of democratizing banking.
This episode wraps up with some thoughtful words on the successes of Bitcoin from past SotE Guest Charles Eisenstein about the future of digital currencies as well as a few related comments from John Gilmore (EFF) during the most recent Palenke Norte series. I’m not sure how many episodes are in store for 2014 , but hope that this episode finds you finishing off this year like me – happy, healthy and hopeful for a great year ahead!
