Bitcoin is a Gift To Change Humanity
Stafford Masie, the general manager of WeWork South Africa and former CEO of Google Africa, has recently talked about Bitcoin. According to her, BTC will certainly change the future of mankind more than any innovation that appeared before it.
She affirmed that only Bitcoin could be used as an exchange of value without the need for any intermediary and that this was a very important “gift” to mankind.
Masie affirmed that, unfortunately, cryptos are often misunderstood. They are viewed as complicated, but they actually have great potential. She said this;
“The third economy is an economy where people don’t have access to electronic forms of distributing value or cash […] Think of the people who live two hours outside Shanghai, China’s central coast. They will use Bitcoin to trade and unlock international transactions outside of the existing frameworks in a manner that you and I cannot imagine.”
For instance, several countries still do not have a very digitized financial sector and barter systems still prevail. In this case, if people do not have the means to access electronic forms of money can use BTC to unlock this potential.
To her, the main interesting point about Bitcoin is how underdeveloped economies can use it, not the ones that already have a properly functioning financial system. In this case, it can be a very secure way to enter the digital financial work.
She also highlighted some common misconceptions about the token. For instance, she affirmed that BTC is not easy to hack. Exchanges can be hacked, yes, but because they are centralized parties. No one can hack the BTC network, they can hack exchanges that hold people’s BTC. If someone is not using these exchanges, the money will be safe.
Masie is a very strong supporter of decentralization. She affirmed that Apple, Amazon, Facebook and Google concentrate much of the wealth of the world. It is because of this that more people need to find decentralized solutions to their problems. Adding;
“When combined, Apple, Amazon, Alphabet, Facebook and Microsoft’s net asset value represents the same value as S&P 500 companies combined and this is extraordinary because we have never seen the concentration of wealth like this in history. Combined, these companies have value that equates to the gross domestic product rates of some countries.”