Bitcoin a Disruptive technology.

[Olotu20]

A disruptive technology is an innovation that significantly changes how industries, businesses or even an entire markets operate, often by replacing older systems or making them obsolete.Bitcoin Disrupts traditional banking by allowing peer to peer money transfers without intermediaries. Looking at how disruptive technologies has changed the way things were done in the past , looking at the history of how different Disruptive technology has changed the cause of history.

Netflix disrupted DVD rentals and cable TV by introducing online streaming today it very rare for you to visit someone and you see a DVD at their homes.Uber Changed the taxi industry using mobile apps and flexible drivers,Smartphone Replaced cameras, MP3 players, GPS devices, and more in one device. All these are disruptive technologies which has come to shape the way things were done in a traditional or conventional working environment.


In the financial sector one thing that we can say is disrupting the traditional way that the financial sector operates is Bitcoin.Bitcoin is considered a disruptive technology because it challenges and transforms the traditional financial system in several key ways.Bitcoin disrupts finance by introducing a new way to store and transfer value without relying on traditional banking systems. Bitcoin removes intermediaries, Bitcoin has brought about Decentralization,Borderless transaction and most importantly a fixed supply.

[Decimetre]

A disruptive technology is an innovation that significantly changes how industries, businesses or even an entire markets operate, often by replacing older systems or making them obsolete.Bitcoin Disrupts traditional banking by allowing peer to peer money transfers without intermediaries. Looking at how disruptive technologies has changed the way things were done in the past , looking at the history of how different Disruptive technology has changed the cause of history.

Netflix disrupted DVD rentals and cable TV by introducing online streaming today it very rare for you to visit someone and you see a DVD at their homes.Uber Changed the taxi industry using mobile apps and flexible drivers,Smartphone Replaced cameras, MP3 players, GPS devices, and more in one device. All these are disruptive technologies which has come to shape the way things were done in a traditional or conventional working environment.


In the financial sector one thing that we can say is disrupting the traditional way that the financial sector operates is Bitcoin.Bitcoin is considered a disruptive technology because it challenges and transforms the traditional financial system in several key ways.Bitcoin disrupts finance by introducing a new way to store and transfer value without relying on traditional banking systems. Bitcoin removes intermediaries, Bitcoin has brought about Decentralization,Borderless transaction and most importantly a fixed supply.

Based on your introduction, exchanges and wallets can be regarded as the true disruptive technology too because it is the main medium that has tend to close into the functions of a conventional banking system by allowing P2P among different people that do not know each other.

Also bitcoin is a disruptive technology on the side of digitalism, mitigating the stress of carrying paper money about which could be bulky and stressful. Bitcoin has also mitigated the conventional knowledge of inflation attacks on fiats too. So I will stand with you in describing bitcoin as a disruptive technology too.

[Doan9269]

A disruptive technology is an innovation that significantly changes how industries, businesses or even an entire markets operate, often by replacing older systems or making them obsolete.

I think we should not come in so harsh in this manner so that the government does not think that the intention for creating bitcoin was to overthrown them and create a revolutionary attempt to destruct the entire system that has been in place for decades over their financial system, maybe instead of using the word disruptive, can't be used a simpler word like game changer?

Bitcoin Disrupts traditional banking by allowing peer to peer money transfers without intermediaries.

The essence to work bitcoin was created was not to eliminate the existence of Fiat currency that government control, but in serving as an alternative for everyone to use in case we are no longer interested in full dependence on their currency, that is why today you can discover some adopting bitcoin while some are not, it's a thing of choice and if we think there is a need for us to have a change in embracing towards a decentralized financial economy, then bitcoin is the way through which we can achieve such.

[Agbamoni]

In the financial sector one thing that we can say is disrupting the traditional way that the financial sector operates is Bitcoin.Bitcoin is considered a disruptive technology because it challenges and transforms the traditional financial system in several key ways.Bitcoin disrupts finance by introducing a new way to store and transfer value without relying on traditional banking systems. Bitcoin removes intermediaries, Bitcoin has brought about Decentralization,Borderless transaction and most importantly a fixed supply.

Bitcoin technology was an improvement to the existing technology. The intention was never to disrupt traditional banking but to support it in a more advanced way. Unfortunately, for Bitcoin to thrive, the disruption of traditional finance has to be much greater. Actually, what matters to people is how helpful a technology is to the world. Of course, some people do not like that Bitcoin technology has gained widespread adoption. But with time, they will see the need to adopt as well.

[Obim34]

Bitcoin technology was an improvement to the existing technology. The intention was never to disrupt traditional banking but to support it in a more advanced way. Unfortunately, for Bitcoin to thrive, the disruption of traditional finance has to be much greater. Actually, what matters to people is how helpful a technology is to the world. Of course, some people do not like that Bitcoin technology has gained widespread adoption. But with time, they will see the need to adopt as well.

Over and over again, similar topic resurface in the local board, all of which are identical whether Bitcoin replacing traditional banking system, how much discussion do we need to cover, before we get enlightened that Bitcoin won't replace fiat ever, even the most enthusiastic countries with softer regulations on Bitcoin will not use Bitcoin over their traditional banking system, can we stop thinking about the impossible, fiat are backed by government, it is never a win for Bitcoin to overthrown fiat.

[Wiwo]

When you say a development or tool like bitcoin is disruptive, it means one of the cardinal features is the ability to replace an existing technology before it arrival, now let relate that with bitcoin, being called a disruptive technology in the global financial system, the point here is both right and at the same time wrong, which is why instead saying bitcoin is a disruptive financial tool, we should rather say that bitcoin is an alternative to the existing financial system the reasons are that.

1: bitcoin os not designed to replace the fiat financial system, so can't be called disruptive as financial terms,  but bitcoin will be alternative.

2: bitcoin provides key features that the traditional banking system lack e.g borderlees transfer and removals of third-party involvement,  all this make bitcoin serve it alternative purpose without actually removing fiat system but co existing.

[Olotu20]

When you say a development or tool like bitcoin is disruptive, it means one of the cardinal features is the ability to replace an existing technology before it arrival, now let relate that with bitcoin, being called a disruptive technology in the global financial system, the point here is both right and at the same time wrong, which is why instead saying bitcoin is a disruptive financial tool, we should rather say that bitcoin is an alternative to the existing financial system the reasons are that.

1: bitcoin os not designed to replace the fiat financial system, so can't be called disruptive as financial terms,  but bitcoin will be alternative.

2: bitcoin provides key features that the traditional banking system lack e.g borderlees transfer and removals of third-party involvement,  all this make bitcoin serve it alternative purpose without actually removing fiat system but co existing.

I understand your point and it's rightly noted but, but I was only trying to bring into view the improvement that bitcoin has been able to bring in terms of enhancing the current financial situation. Just as you have said Bitcoin can't in the real sense totally replace Fiat currency but has been able to bring in some innovative to the financial situation that we have.

[Pi-network314159]

In the financial sector one thing that we can say is disrupting the traditional way that the financial sector operates is Bitcoin.Bitcoin is considered a disruptive technology because it challenges and transforms the traditional financial system in several key ways.Bitcoin disrupts finance by introducing a new way to store and transfer value without relying on traditional banking systems. Bitcoin removes intermediaries, Bitcoin has brought about Decentralization,Borderless transaction and most importantly a fixed supply.

You might be wrong using the word disruptive technology on Bitcoin. Bitcoin came to solve problem but was not created to be a distributive technology. Well it was created to function as an alternative to the existing financial system and not to replace it like others did in your example. Gold is still active and it's been used as a store of value even though Bitcoin still exist and still function as such. Traditional banking system is been used even though Bitcoin is used for cross buder and internal transaction. So don't make it looks as if Bitcoin existence has eliminated the use of other existing system.