Bitcoin’s only some weird digital money, interesting to cypherpunks only? With nearly all financial institutions investigating or investing in Bitcoin-related technologies I guess the answer is obvious. But does Bitcoin have any value to you, if you’re not into the banking? Certainly: a lot of innovative products work on top of Bitcoin or use the blockchain in another way. In this article I’ll list some recognizable problems, from Bicycle-renting to digitally signing documents to selling the electricity your windmill has generated to your neighbor, and solutions on the blockchain.
I heard about Bitcoin a few years ago and was captivated by it immediately. Bitcoins were worth a few dollars, and I was quite thrilled to be able to even buy something with them. The price went up to over $1000,–. Alternative coins we’re popping up, and people started wondering why you’d want to use money that isn’t backed by a central bank. The focus was on Bitcoin as an alternative form of money - or currency in slightly more legally accepted terms. Bitcoin becoming a new world-money did not take off, the price went down again. But instead of going into oblivion people start focusing on the technology behind Bitcoin, the blockchain. Shortly, the idea was that Bitcoin may be irrelevant, its technology is. Of course, as people quickly realized, using any decentralized system requires some decentralized currency, or more general a token to go around. And why get a new currency accepted when there’s already one that’s well accepted and known?
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