Out of all the nations of Earth, African countries will stand to benefit the most from financial technology such as bitcoin.
How can the state levy taxation on that which they do not issue and cannot control?
The world’s first trillionaire by USD valuation could quite possibly be the creator of bitcoin, Satoshi Nakamoto.
Blockchain technology stands to radically transform our concept of the corporation where machines, not humans, are both the customers and employees.
The companies and individuals who approach bitcoin technology with a 20th century mindset will find no success. They will seek to harness the innovation of Satoshi's invention, and in doing, will slowly realize that the killer application of this technology is to render them obsolete. Bitcoin is an evolution in our concept of the corporation, and a blueprint for decentralized, trustless, openly accessible commerce in the 21st century.
Bitcoin is backed by time, and boasts intrinsic value which will continue to grow as more users join the fold and the network becomes exponentially more valuable for every participant.
The blueprints for scaling the bitcoin are beginning to emerge and the Lightning Network may prove to be the answer.
When scaling solutions are implemented which allow billions of transactions to be made per second we will see an economic engine capable of facilitating business at the speed of thought.
Brace yourselves. Surveillance is coming.
Paying per computational step could mitigate distributed denial of service attacks (DDoS) and abusive spam when launched against a large number of targets at a near zero margin cost. The potential benefits of this pay-per-computation model for the mitigation of network abuse cannot be understated.
On March 11 smart contracting platform Ethereum surpassed a total market capitalization of over $1 billion USD.