There are two, and keep both in mind. First is the central banker function, the miner technology. It is nothing more than a web bot acting as a central banker with no owner.
The second is much more important. Bitcoin exchanges are peer to peer, no intermediating bank. Huge utility here, since any mom and pop make debit cards, without an intervening bank. Or immediately set up an online account with no Paypal. This is the killer technology. Prior to this, all transaction were buyer- bank - seller. Now its party1 - party2. The metaphor is that each client owns both the vault and the money. So one can take the vault from one location to another, assign it to a 401k, put it in a smart card, ow whatever. Big efficiency gain in setting up digital accounts.
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