Similar to when the TCP/IP, HTTP and SMTP protocols were still in their infancy; the Bitcoin protocol is currently in a similar evolutionary stage. Contrary to the early days of the Internet, when only a few people had a computer, nowadays everybody has a supercomputer in its pocket. It’s Moore’s Law all over again. Bitcoin is going to disrupt the economy and society with breathtaking speed.
For the first time in history technology makes it possible to transfer property rights (such as shares, certificates, digital money, etc.) fast, transparent and very secure. Moreover, these transactions can take place without the involvement of a trusted intermediary such as a government, notary, or bank. Companies and governments are no longer needed as the “middle man” in all kinds of financial agreements.
Not only does The Internet of Things give machines a digital identity, the bitcoin API’s (machine-machine interfaces) gives them an economic identity as well. Next to people and corporations, machines will become a new type of agent in the economy.
Gonzalo San Gil, PhD. on 07 Dec 13"Bitcoin is an experimental, decentralized digital currency that enables instant payments to anyone, anywhere in the world. Bitcoin uses peer-to-peer technology to operate with no central authority: managing transactions and issuing money are carried out collectively by the network. "
