the majority of people think that the currency is legal tender or only substitute for cash. Although money is one of the most famous currency agreement application, but we are not involved in the financial world outside more feasible to break the current currency situation. So whenever I am asked questions about the COINS, I will explain the currency contains two things: bit agreement and bit money.
the difference from the currency of its distributed system, every transaction can be found in a public database, the database is data block chain, sounds complicated but it is not. In essence, the bit protocol enables a distributed database to track the ownership of assets. The benefits of this simplification is assets can be real or virtual anything.
this is the concept of simple creates the most attractive place in the application. As far as we now know, bit agreement has the potential to have hope to break down the mainstream industry. Any third party to track assets ownership of industry chain are likely to be based on the data blocks the application of the collapse. As Ticketmaster ticketing website (), the Old Republic National Title Insurance company’s Insurance (property), and even such a respected company, New York stock exchange are likely to be the next generation of competitors with data block chain collapse completely.
this is how, and why? Bit agreement to allow buyers and sellers buying and selling safely through the data block chain distributed agreement to trace the ownership of assets, such as tickets, assets and equity. We are starting to see interesting startups like BitHalo and Namecoin is development can make asset owners the application of direct access to the data block chain, thereby eliminating costly middlemen. Perhaps the most exciting progress is IBM may use the data block chain build distribution platform for the Internet of things.
now, the most widely used bits agreement is currency. This is a good understanding of money is a very logical ownership of assets so that people will go to track it. If you hear the news about the currency, the chances are associated with currency stored in a data block chain.
early most COINS company focused on the following three points: (1) enables people to build infrastructure by exchange-traded currency, such as Bitstamp and Bitfinex; (2) using electronic purse safely store COINS, such as Coinbase and Xapo (emergency capital group is one of the investors of Xapo); (3) through commercial service trades, such as Bitpay and Gocoin. It is interesting to note that some industry leaders are progress, increase more services, more blurred boundaries between the core category. In addition, although the currency is one of the most popular form of virtual currency, there are some other virtual currencies can choose, such as Litecoin, Ripple, Dogecoin and so on.
investors go from here? As a science and technology emergency capital organization investors, entrepreneurs, and see the great improvement of the past few years the economic environment is very happy. But even the currency (agreement and monetary including both) can let a person feel not clear the mind, the market also gradually mature. These signs that we are moving in the right direction.
more experienced business team: we are starting to see some very talented, high-profile team is committed to the currency start-ups. The Xapo Wences Casares and his team, the Circle of Jeremy Allaire and BitGo Ben Davenport is such in emerging markets down the big bets of entrepreneurial teams.
derivative startups: main building foundation platform services such as the first wave of entrepreneurs exchange, electronic wallet, business services, and now with the currency more and more used to produce a lot of challenges, start-up companies in the face of these challenges in the process of realizing the diversity, including security, identity, financial tracking, analysis and other fields.
bit agreements startups: under this trend, I think the third is the most attractive, is still in its early development stage of a company, are those who even and COINS (monetary) no relationship of the company. Instead, they use bit deal itself. These to reconsider the DNS, the ownership of tangible assets, tickets, file storage, and even E-mail system of the company let me find everything new and fresh, because I consider more is bit protocol makes the technology market collapse.
the currency is still in its early stage of development, both to think about how far it has come and it contains the opportunity is very exciting. Banking and financial services have been ripe face collapse, and the currency introduced a lot of money has the potential to do just that. But, in contrast to the mainstream idea is that a lot of COINS technology is used to create the greatest value may has nothing to do and business services. How entrepreneurs can create value for bit agreement, we know very little.