The future of money will involve transfer of value across real time, self-optimising markets, where computer code will iron out many mismatches between supply and demand.
It’s hard to imagine a world where self-driving cars tout the fairest deals on completely decentralised trade networks. But it happens to be a logical progression from decentralised systems like the Bitcoin network.
IBTimes UK asked Jeff Garzik, CEO of Dunvegan Space Systems, how Bitcoin might be adapted/adopted in the future.
He said: “It is the very early days yet. Several pieces of the decentralised software stack have yet to be written and deployed.
“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.
“Combine this with real time self-optimising markets and you begin to glimpse some of the future of money.”
Garzik has been vocal in the debate over private versus public blockchains. He believes centralised, clustered/replicated databases in existence today are probably more robust than private chains will be.
“A private chain is basically a private database. Private, clustered/replicated databases have existed before now.
“Without the policy-neutral,