Post
Topic
Board Economics
Merits 1 from 1 user
Re: Is Bitcoin Disrupting our Financial Landscape?
by
Ucy
on 28/02/2023, 09:15:36 UTC
⭐ Merited by JayJuanGee (1)
As we all know that Bitcoin is firstly introduced to us for it's convenience and numerous benefits. Being banked or underbanked, we can still enjoy the benefits and the accessibility of transactions as long as we have access to internet. Another benefit also is the anonimity it gives to people(although some would probably say not totally). By this, it is only right to say that Bitcoin has the potential to completely transform the way we think about money and finance. Compared to what we traditionally knew about finance, cryptocurrencies and bitcoin allows an individual to participate on the global economy without much requirement that otherwise it would be impossible. Although this is beneficial for developing countries, where traditional banking services may not be available or accessible, we couldn't deny the fact that it is slowly changing or disrupting the financial structure that we knew.

what do you guys think?


In regards to Bitcoin being anonymity-friendly, that is one of its most important feature. It's actually how a good financial system should operate in a trustless/public space. It uses the anonymity for the protection of its users who would do transactions with people they don't know or trust.
I have notice how vulnerable people could be in traditional financial system when it come to preserving people privacy/anonymity. Imagine giving people you don't know really well your bank details which typically includes full names. It's actually an evil system. And Bitcoin is part of the solution to this lack of protection for users.