A Revolution in Money
A Revolution in Money
And even if you believe Bitcoin is no more than a fad and that may well be, given its volatility, security issues and potential regulatory challenges it has raised the prospect of new virtual currencies and, at the least, cheaper and more efficient transaction mechanisms.
Money is a very interesting philosophical idea in that we have all of humanity agreeing on this system, said Ray Kurzweil, a futurist, inventor and author. So even though we may radically disagree on some things like lets say the U.S. government and Al Qaeda they both respect money. So its remarkable how we have this universal respect for this very esoteric virtual construct.
Several prominent dreamers, including Marc Andreessen, who led the team that invented the first commercial web browser, say they believe that new virtual currencies will come to dominate the way we pay for things in the future. Bitcoin offers a sweeping vista of opportunity to reimagine how the financial system can and should work in the Internet era, and a catalyst to reshape that system, he wrote recently.
Mr. Kurzweil, however, is not so sure how easy it will be for new currencies to emerge. Weve built up respect for currencies associated with nations, he said. People respect dollars, mostly, I think, because of the track record, relative stability.
Other futurists suggest that there will be dozens of ways
http://dealbook.nytimes.com/2014/04/01/a-revolution-in-money/?_php=true&_type=blogs&src=twr&_r=0