I have heard of Bitcoin. It's currency but it's digital. Interesting. But I didn't read up on it until mid 2015.
My interest was piqued after hearing an interview of an entrepreneur who founded a company offering bitcoin services. [It had been a while so I've forgotten his name.] He grew up in Argentina. His family accumulated wealth and within two generations, the Argentinian government mismanaged the economy and crashed the value of their currency several times and every time it happened, they had to rebuild their wealth.
It was this main point that highlights the need for a currency that does not depend on how governments manage their economies. In countries like Australia, the US and the UK, you can reasonably depend on their government institutions to ensure that the value of your currency does not come crashing to the ground without you having the time to manoeuvre. But there are several countries with stupid or weak governments that keeps mismanaging their economies and therefore, keep penalising citizens who are doing the right thing by saving and accumulating wealth.
We need a currency that no longer relies on national governments. We need a planetary currency. Bitcoin may be it.
National currency rely on sound economic institutions, which in turn, rely on sound political institutions. These are no easy feats. In many ways, Bitcoin, offers a lot of solutions to the many negative aspects of our financial and monetary system.
That's all I have time to blog today. Well get more into Bitcoin another time.