Digital currencies have trust issues.
Proponents of blockchain claim that
With the advent of bitcoin, the
Central functions and financial institutions
will soon suffer the fate of elimination.
that blockchain technology will dominate the entire world.
Corruption and bribery will cease to exist.
Society will become "trustless".
The irony is that the vast majority of people
Still don't trust digital currencies.
Proponents say that
These people don't understand
The technological innovation behind the blockchain.
Here's a trick.
You no longer have to trust any
Central entity or counterparty.
Bitcoin is not required to be trusted. "
Then just because we don't need to
trusting banks or counterparties.
Is trust completely out of the question?
It's perfectly reasonable to distrust Bitcoin.
Because Bitcoin is not trust-free.
than the dollar.
Bitcoin needs trust even more.
Innovation requires trust
That's the truth.
Cryptocurrencies require sufficient trust.
No problem with that.
the beginning of the life of any system.
Trust is certainly needed.
It's an experiment.
We are still today
In the early stages of the process.
Crypto coins are the future of finance.
If the digital currency wins.
Wouldn't it also be because
They "need not be trusted".
They are not "needlessly trustworthy".
Rather, it will be because they are better.
They must be more than legal tender
Better solutions to practical problems.
If crypto coins win.
That would be because of their convenient
small and large payments.
their global availability.
their faster settlement times.
their lower fees.
their invariable availability.
and their adoption of smart contracts
Eliminate the intermediary and put the expensive
The ability to automate financial relationships.
Despite the frenzy of mainstream attention, the
Cryptocurrencies are still in their early stages.
Maybe one day they will.
much stronger than legal tender.
But we still have a long way to go.
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