The revolutionary bitcoin after Satoshi released the whitepaper in 2009 created a lot of the foundations for a new ecosystem with its open-source code based on game theory, an empowered community, new economics, and new behavioral trend surrounding financial transactions. We have an emerging peer to peer cash payment system.
All of this love and support comes from the programmers, social reformers, activists, and the millenials . Resistance comes from the centralized financial institutions
This resistance has come from the centralized institutions
Resistance comes from the conservative mindset where they have trusted the banks that have been established for centuries. As students, we have been taught to trust a centralized institution built on the foundations of elders on a fixed cultural mindset. We were brought up to be proud citizens of a structured system.
However, technology and especially financial technology is disrupting these old-school
Bitcoin has been utilized
We don’t know if bitcoin will be replaced by a new cryptocurrency. It has certain flaws, but not with hackability. The biggest challenges lie in scalability and faster transaction speeds.
Curtailing all of this catastrophic events, we are seeing a new kind of disruptive system that will shift the consciousness of a globalized society on how we make financial transactions.