Anthony Pompliano Implies It’s Hard For Humans To Understand Bitcoin, Changpeng Zhao Answers Him
Anthony Pompliano the founder and partner at Morgan Creek Digital wrote a tweet,
The reason it is so hard for so many humans to understand crypto assets is because these assets are not for us.
They are being built for the machines.
— Pomp 🌪 (@APompliano) February 23, 2019
He went on explaining that machine to machine transactions are the future. In order for that to happen in a borderless and digital world, machines need units of value that are truly digital. That means that it doesn’t have to be an electronic representation of physical value, it must be specifically created for this purpose. This is why he believes that crypto provides a number of advantages for this.
Changpeng Zhao, the CEO of Binance, the largest digital currency exchange in terms of trading volume, answered Pompliano back. He said that the reason it is so hard for many to understand cryptocurrencies is that schools do not teach what money really is.
Pompliano agrees with this comment. He said that humans are also considered the R&D department for machines and that automation is the results of humans trying to do things better, faster and in a more efficient way.
One of the best examples of this is the new Amazon grocery stores that they are testing. You can just enter the place, pick out the food desired and just walk out. After this, the store knows who you are, what you picked out and it will be automatically charging without ever handling money or waiting in a line.
Great example is the new Amazon grocery stores they are testing.
You walk in, pick out the food you want & you walk out.
The store knows who you are, what you picked out, and it automatically charges you without you ever touching money or waiting in line at a register. Crazy
— Pomp 🌪 (@APompliano) February 24, 2019
Virtual currencies are being embraced by individuals in several countries. They are used in those places in which fiat currencies are not stable and have higher inflationary rates. Nevertheless, it is clear that there are several individuals that do not understand how cryptocurrencies work and how they behave.
It is important to increase the knowledge about these digital assets and help people understand how the crypto space works. In the future, when virtual currencies will reach a larger audience, it will also be easier to educate the population about how these digital assets work.