In this blog, we curate relevant and remarkable content related to blockchain, cryptocurrency and the digital economy. This fascinating piece by Darryn Pollock published on Forbes discusses why cryptocurrencies need to become as socially acceptable as social media. Read on.
“Cryptocurrencies have evolved considerably since Bitcoin began over ten years ago. Like a timeline through history, certain events have shaped the digital financial landscape based upon the blockchain, and because of these different directions, tribalism and factions have formed.
But, these factions have formed because of the philosophical standpoints of what people believe cryptocurrencies should be. The Bitcoin Cash hard fork – and subsequent fork – was because of a disagreement of what it means to be digital cash.
Is Bitcoin a store of value, an investable asset, a digital gold? or is it, as the white paper states, ‘a peer-to-peer electronic cash system’? These philosophical debates will continue to rage, but what is mostly agreed upon is cryptocurrencies need to become more mainstream.”