A Candid Jeff Garzik Speaks On The Future Of Bitcoin!

Bitcoin is a hot topic of discussion these days and so is the technology behind it, which is also known as blockchain.

While the market experts view both of them with interest, several experts are now focusing solely on the blockchain technology.

Considering these developments in mind, several Bitcoin users are now thinking over the future of this digital currency.

Jeff Garzik who is the CEO of Dunvegan Space Systems was asked by the IBTimes UK on how the Bitcoin could be adapted in the future.

His answer shows that even experts feel that it is too early to build an opinion on this issue. Answering the question Jeff said that: “It is the very early days yet. Several pieces of the decentralised software stack have yet to be written and deployed.”

He did not stop just here; further he told the IBTimes that “Bitcoin was just the first step. There is a vision of greater corporate and governmental transparency and honesty when finances are audited and in some ways governed by smart contracts – audit-able, computer-provable milestones and metrics that govern asset transfer.”

Jeff also was of the opinion that if one were able to combine all of this with real time self-optimising markets, one could foresee at least some future of the money.

Not only that, Garzik has also been open on the issue of private vs public blockchains.

In his words, a private blockchain is merely a private database and that these private, clustered/replicated databases have existed before too.

When the IBTimes asked him if he would like to make any predictions on the price of Bitcoin, Garzik refused and said that as part of his policy he only focuses on the protocol technology, adding that he felt that all Bitcoin firms would continue core operations while also expanding those outside the Bitcoin space to all areas of fintech.

He also spoke on the Rootstock project and said that his view on the subject was that while the Ethereum technology was great yet it is not good enough as an investment in the ETH token.

Therefore, he said that it would likely get married with the Bitcoin, just like in the case of Rootstock.