How about Bitcoin as a protocol?A new book on genomics, robotics and other industries of the future argues that Bitcoin may have the potential to transform the financial services sector
Alec Ross’ book, The Industries Of The Future: How The Next 10 Years Of Innovation Will Transform Our Lives At Work And Home, is like a crystal ball. It looks at advances in areas like robotics, genomics, virtual money, hacking and big data and tries to predict what the future might look like—in our lifetime.
Ross served as senior adviser for innovation to then US secretary of state Hillary Clinton from 2009-13. He is now a distinguished visiting fellow at Johns Hopkins University in the US.
In the chapter titled “The Code-ification of Money, Markets, And Trust”, he talks about leaving home without a physical wallet, the potential of cellphones to transform payment systems, and the brouhaha around Bitcoin as a currency versus a protocol. Edited excerpts:
The powers that be in Silicon Valley see Bitcoin heading mainstream. But if so, where will it eventually take hold? In my view, the best case for Bitcoin is not as a currency but as a protocol, relying on the new possibilities offered by the blockchain
http://www.livemint.com/Leisure/RXSIl8TvuVsFPPAKGLarDJ/How-about-Bitcoin-as-a-protocol.html
