On 14 august 2016, Swiss non-profit World Economic Forum conducts a study about bitcoin, the worldwide reputed currency. Of course, they accept bitcoins worth and assure that bitcoin is going to reshape the financial service including infrastructure.
Changing of infrastructure
With the supply of 21 million, bitcoin continually change the payment/ transaction system all over the world. Whereas, it already crosses the price of Gold and competes for Ethereum on daily biases.
Just imagine for a while that a country takes a risk of its financial sector by applying a new digital technology, it’s weird. In other words, it’s totally insane. In the same way, if people of any country get authority to change the weather, they can. That is why bitcoin asserts itself and largest countries of the world do investments through bitcoin. Countries including Sweden, Denmark, the United States of America, South Korea The Netherlands, Estonia, UK, Canada, Australia and much more do the heavy transaction through bitcoin.
It is basically a cryptocurrency and a payment system is using by the peoples of the world. Bitcoin was trending in 2013 between $10 to
$15 and then it exceeds to $1163 within the same year. Which means it grows day by day. A good software takes 10 years to get used to it. Whereas bitcoin was properly launched in 2009. Which means, this is the early age of the bitcoin.
Worldwide central banks are looking toward the bitcoin process of transactions between the countries. The study shows that up to 2040, currency may change its structure. And bitcoin is at the top of the list. Which allows doing transactions faster and more secure with low cost.
Bitcoin technology is going to directly affect the financial sector. No doubt, when you are adopting a new technology. You become, use of that technology. In the same way, bitcoin deals with the people in the transaction with low cost. They get more relax as compare to other cryptocurrencies. More than 80% banks are going to launch the new system regarding bitcoin.
If you know how to generate money, then you can easily maintain a good bitcoin account. It is an open transaction system, everybody can see the payment process.
As Bill Gates states about the future of digital currency,
in the future, financial transactions will eventually “be digital, universal and almost free.” Bill Gates will push the Microsoft to use bitcoin in payment form or weave cryptocurrency in company’s nascent payments.
This thing is crystal clear that if people of any country get authorized, they can easily change the situation. They will use new technology, even use digital technology on their own behalf.