What is bitcoin capable of doing? What are the changes it can bring about in the current world we live in? Everyone has different answers to these questions, but when all these answers are summed up, it points out to three categories that bitcoin will benefit.
Brian Armstrong, the CEO of Coinbase also shares the same view as others about the potential uses of bitcoin. Brian Armstrong expressed his views about the usefulness of bitcoin on one of the podcasts. He was recently featured in a16z Podcast hosted by Christopher Mims of Wall Street Journal. In Brain’s words, bitcoin has a huge potential to change the fintech sector across the globe.
In the podcast, Brian Armstrong mentions that many bitcoin companies and enthusiasts are more focusing towards working on solutions for developing nations and other grey areas instead of working on improving conventional banking and financial services in developed and developing nations alike. Integrating bitcoin technology into conventional banking operations can increase the overall efficiency of the sector by reducing the time and cost associated with transactions. Bitcoin is capable of drastically reducing transaction and compliance costs associated with money transfer and banking operations respectively.
The potential of bitcoin