Great post! The Bitcoin network simply isn't sufficient to process all the transactions in the world quickly enough. I hope that eventually all forms of currency will be diversified and more and more of the economy becomes blockchain based. If we were to put the whole world economy onto the blockchain, no way having only bitcoin would suffice. We would need far more successful cryptocurrencies than available today. This is why I believe that we are still in the infancy of the cryptocurrency revolution and even this year, we will probably more cryptocurrencies taking off to serve specific market niches.
Gone are the days of currencies being tied to specific governments. I think we will see more and more cryptocurrencies based on specific industries instead, for example, Steemit captures the social media industry.
Great comment. I think it would be kind of amusing to see a bunch of governments around the world, scrambling to put their national currency on the blockchain. @josepimpo was talking to the Central Bank of Mexico to talk about making a digital peso, and I'm curious to see if that will play out. Critics say that if a central bank is talking about that, that means they don't understand what decentralisation means.
Then there was this curious news that came out the other day, Hilary Clinton publicly declaring her support for blockchain tech. In that case, we can say for sure that Clinton doesn't understand what blockchain tech could mean for government transparency.
LOL the irony is too strong. I almost want to see Clinton shoot herself in the foot on a public blockchain. :D
Who cares about Hillary. She goes where the money goes