The anti-establishment tide across the world isn't just restricted to the world of politics; it's also sweeping away traditional fintech and allowing digital currencies to flourish.
After discussing how bitcoin is modernising finance as we know it and digging deep into the impact on the banking industry, how we are paying for goods and services, and the decentralisation of exchanges made between individuals and businesses, we are set to get into more details about the future of bitcoin in our way of life.
Economies have controlled almost all aspects of human life ever since money was introduced to society. Money makes the world go around and money is power, and power is money. Any escaping of this principle is nearly an impossible effort, unless of course, you have chosen to live in the wild.
Bitcoin has lost 10% of its value thanks to the theft of 120,000 Bitcoins from Hong Kong-based digital currency exchange Bitfinex. Is this latest bl...
These days globalisation is largely treated as a dirty word. But arguments about Britain's role in the EU aside, what does a British company's role in the international market place actually mean and look like?
Bitcoin is a decentralised digital currency, meaning that the database used to record Bitcoins are not centrally controlled. These systems are built using a 'distributed ledger', or 'blockchain', which is a decentralised public database collectively maintained by a network of people, known as 'miners', who run the software. There is no bank or country responsible for issuing Bitcoin meaning there's no central point that can fail.
Banks have dined out for centuries on being that reliable secure connection for our money, take that away from them and make it an instant automated process and, at least in theory, you're taking away their reason to exist.
Ever since the (almost) immediate closure of of live wagering on poker within the US, it's been a difficult ride for the game of Hold 'Em to prosper. Consisting of a predominantly US line up, the faces of professional poker have been forced into playing free money games to stream and coach from within the American border.
Our current economic system faces many problems. In 2007 we went through a major crash, for reasons way beyond most people's understanding. Interest rate setting, the Libor scandal, the subprime mortgage scandal and many other such activities, demonstrated a calamitous manipulation of the economy in their own interests by a bunch of 'financial experts' in suits.
Last week, I was lucky enough to be chaperoned by the Institute of Practitioners in Advertising (IPA) and the UK Trade & Investment (UKTI), around a variety of emerging tech companies in Silicon Valley. The IPA/UKTI interactive mission has been a real smorgasbord of tech inspirations and here are my views on the trends that will be coming to European shores shortly.
Since digital currencies leapt onto the scene in the early 1990s, they have been steadily gaining traction in the financial sector. The economic crisis in Greece and the recent slowdown in China's growth have given credibility to digital currencies as an alternative to traditional fiat currencies and led people to look for more innovative methods of transaction.
LEOcoin is already leading the way in demonstrating how a secure, internationally tradable currency, existing outside the financial status quo, can galvanise the SME sector. I see no reason why it cannot radically change the way governments do business too. Once the dam is breached we'll likely look back and wonder how we used to do finance any other way.
Could digital cash help a business during an economic slowdown/recession, could that in itself help shorten the downturn by keeping the economy moving? Perhaps not such an outlandish idea.
Yanis' reflections on digital currency have focussed on Bitcoin as the case study for his assessments of the potential they offer, and his appraisal of their potential has largely been negative. Yet this has not prevented him from examining how a digital currency of sorts could work for his native Greece.
China is still a contender for the title of 'Bitcoin capital of the world'. It's the centre of Bitcoin trading, it's a major miner of the currency and it's home to the largest number of Bitcoin wallets in the world. But what does that say about the state of Bitcoin worldwide if there is virtually no mainstream adoption of the currency in one of its leading territories? For Bitcoin evangelists, it's a depressing thought.
It's this infinite digital ledger system that has the potential to revolutionise how information is spread online. While many think this is still a few years into the future, many companies and individuals are using it today to protect their digital wares.