THE HUMBLE LIBERTARIAN

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Monday, August 27, 2018

BigThink.com: "Bitcoin is closer to breaking into the mainstream than ever before"


A glowing article about Bitcoin from Big Think Sunday:

Crypto could be closer to the mainstream than we think


Right now, it might feel like we’re a long way off from a world where crypto is mainstream.

However, the industry has come a long way within the past two years alone. With more and more companies working on solutions to solve some of crypto’s biggest problems and making it more practical for real-world application, it could be closer than we’ve been led to believe.

There have even been rumors that big companies like Amazon are planning on jumping onto the crypto bandwagon. The retail giant has released no official statements on the topic, but its recent purchases of domain names including AmazonEthereum.com, AmazonCryptocurrency.com, and AmazonCryptocurrencies.com, suggest that it could be gearing up to become more involved in this growing industry.

Amazon is also pushing its ‘Blockchain on AWS’ platform that provides users with the resources they need to experiment with blockchain networks and deploy solutions. Qtum is an example of one blockchain platform that has recently become available through Amazon Web Services (AWS). Qtum is a decentralized, open source smart contracts platform that aims to completely revolutionize the way that smart contracts are viewed, developed, and used.

This launch will enable AWS users to access the platform and use it to develop and launch their own smart contracts by using Amazon Machine Image (AMI), without having to go outside of the platform.

Having Qtum available on the Amazon platform has already served as a huge boost for the QTUM cryptocurrency. And this is just the beginning. Over the next few years, it’s likely that Amazon will become increasingly interested in the potential of the blockchain.

Who knows...within a few years, buying a loaf of bread with Bitcoin could be the new norm.

On the same day, Forbes asked:

Could Bitcoin Replace Credit Cards?

"Arran Stewart, Co-owner and CVO of Job.com, explains how Bitcoin could replace credit cards. Credit cards, he says, could be replaced with simple wallet verification that could be confirmed 'with something as simple as a fingerprint. We are already used to doing the same and similar behavior with Apple Pay. This is far more secure and efficient as it would allow retailers to receive payment for goods and services much faster. The only roadblock to this becoming reality is the stability of the crypto market, which will come in time and as transaction volumes continue to increase.'

That’s bad news for companies like Visa and Master Card, which dominate the credit card payment industry -- and for the banks that issue these cards and take their own cut.

But it is good news for Bitcoin investors, as it will raise exponentially the adoption rates for day to day transactions, and boost its price."

And Reddit co-founder, Alex Ohanian, had this to say:

"As a store of value, there is some real traction [with Bitcoin], and actually as we’re seeing in countries like Turkey that are having significant economic crisis — where people are losing faith in the Turkish lira — we’re going to see money move over to bitcoin because as unstable as it is, it is actually a lot more stable for a lot of people than their own [currency]... But right now, we’re still in the earliest, earliest stages."



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