A recent book by Brian Kelly of CNBC is raising interest (and heated discussions) about bitcoin and cybercurrency.
Kelly’s book is called “The Bitcoin Big Bang” and although it isn’t the first book on Bitcoin, his thesis is that bitcoin is poised to take over the financial world.
Kelly discusses that many of the benefits of bitcoin and its Blockchain technology hold “the potential to decentralize the system.” This movement away from a centralized financial system that we’ve grown familiar with that involves banks, credit cards, and their associated fees and regulations to one that is capable off moving currencies quicker and more cheaply through a decentralized system holds much appeal on a world-wide basis.
“The Bitcoin protocol replaces the banker with the miner and by doing so removes the cost of a middleman,” Kelly writes. Kelly feels that not only the banker can be replaceable but the Federal Reserve as well.
As much as this sounds Rand Paul like and will excite many libertarians out there, don’t lose sight of the fact that other high profile and “financially mainstream” people are stepping out and discussing the opportunities that Bitcoin brings to the current financial systems.
At a recent forum on bitcoin at Bloomberg headquarters in NYC, a panel included not only the heads of the CFTC and the U.S. Financial Crimes Division, but the highly regarded Arthur Levitt, former SEC chairman. Mr. Levitt as come out not only as a proponent of bitcoin, but he is now on the advisory boards of two bitcoin-focused companies.