Disrupting Money? (Crypto & DeFi)

Bitcoin is completely reshaping our understanding and use of money. Is this the perfect time to jump in? What does the governmental adoption of Bitcoin mean for global economic stability? What about Ethereum and other altcoins? In today’s blog, we’ll present the most important insights and lessons from our recent Workshop, do a recap of Bitcoin itself, and discuss the broader trend of DeFi and what it means for the global financial system and the future of money. Let’s dive in… WHAT EXACTLY IS BITCOIN AGAIN? AND BLOCKCHAIN? For starters, Bitcoin is a digital currency and a technology for storing and transferring value. The current value of one bitcoin is about $35,000. You can buy things with Bitcoin, sell things for Bitcoin, and exchange Bitcoin for other currencies (and vice versa). At its core, Bitcoin is a decentralized digital currency: a virtual money based on software, designed by forward-thinking engineers. It eliminates the need for banks, gets rid of exchange fees, money transfer fees, and reduces the need for lawyers in transactions… all good things. But as Michael Saylor points out, perhaps the best way to understand the significance of Bitcoin is to compare it to existing monetary stores of …

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