Post
Topic
Board Bitcoin Discussion
Re: Bitcoin conceptualization in the context of globalization
by
kryptqnick
on 17/02/2019, 14:25:59 UTC
What role do you think Bitcoin plays in the context of globalization? Bitcoin conceptualization in the context of globalization
Globalization means that people are more connected with each other and global trends prevail over the local ones. A good and often used example on this tendency is that we know way more about people we've never met but admire for their work than about our neighbors. Bitcoin is accessible regardless to physical location which already makes it useful for globalization. Another good point is that there's no central authority that controls it. Bitcoin can indeed be a great contributor to financial globalization. However, it should be noted that when globalization becomes stronger, it also triggers somewhat opposite trend of localization. That is, people notice how globalization erases many differences, and it leads them to valuing our own cultures and ways of life more. Examples of localization in the crypto world are probably centralized coins that belong to banks, companies and nations. The way of dealing with it and making Bitcoin win is what's called glocalization: adapting global stuff to local cultures. This could be done by making region-specific reasons for people to adopt this coin and by making local merchants accept it as payment.