Bitcoin Is A Tool All Government Officials Should Experiment With
Bitcoin is a powerful technology that has the potential to reshape our world in the next 10 years. It's not just a matter of money. It's about how we interact with each other, how we conduct our day-to-day transactions, and how we can exchange value for goods and services with anyone in the world.
Governments around the world are paying attention to bitcoin and exploring ways to implement it into their systems. Several countries have begun to issue their own digital currencies and regulate bitcoin exchanges.
I think we should all experiment with bitcoin. We should try it as a tool for government officials and see if it can improve our lives. Here's why:
Bitcoin is decentralized, transparent and open source software based on cryptographic principles that prevents anyone from manipulating data or issuing new bitcoins without anyone knowing about it (e.g. double spending)
It requires no trust between the parties involved in the transaction as all information is publicly available on the blockchain ledger (i.e. distributed public database) so anyone can check at any time; this makes fraud/theft impossible
There are no borders so anyone in the world can send/receive money without restrictions
Fast (transaction confirmation takes seconds); this means