Almost everything in our life has been impacted by technology that changes the way we do things to be better, faster, cheaper, safer, and smarter—be it in transportation, architecture, communication, etc.
But, if we truly live in a globally-connected world, why are we still paying high middle-man fees, while our banking transactions still take around 3+ business days to go through (and God forbid if your signature on that bank document is slightly off for some reason that day)? There should be a smarter and safer way to make transactions.
In some ways, Hong Kong’s MTR-issued Octopus card has made daily purchases frictionless and fast. Making payments in bitcoins can be just as convenient, and unlike the Octopus that is only useful within the borders of Hong Kong, bitcoins work pretty much like cash without borders. You can use bitcoins to pay anyone in the world in any amount you desire, instantly—even to reload your overseas bank account or pay off that college loan you took out while studying abroad, at a fraction of the cost of traditional wire transfers. “Huge” would be an understatement when talking about the potential that the Bitcoin protocol has in disrupting the world of finance.
