Why Bitcoin is here to stay

Summary: The fact that crypto-currency makes illegal activity and terrorism easier to fund is deeply disturbing. But the drivers are simply too powerful: Crypto-currency is around to stay and the changes to our global economy will be staggering.

By Brian Hopkins for Forrester Research | January 29, 2014 — 17:52 GMT (09:52 PST)

By Brian Hopkins for Forrester Research | January 29, 2014 — 17:52 GMT (09:52 PST)

When I stumbled across Bitcoin (or Bit-O-Coin, as my wife likes to call it) a few years back, my spidey sense started tingling. Since that time, I’ve made a few off hand remarks about the future of crypto-currency and received the expected “it’s another Dutch Tulip thing”. While I’m not an expert on the financial markets, I do have an excellent trade record for identifying disruptive technology changes and I’ve concluded that crypto-currency is here to stay.

Here’s why:

The problems are obvious and challenging. We have a long way to go before a stable crypto-currency becomes an instrument of trade and not speculation, and we have big regulatory issues to solve. The fact that crypto-currency makes illegal activity and terrorism easier to fund is deeply disturbing. That said, the drivers are simply too powerful – crypto-currency is around to stay and the changes to our global economy because of it will be staggering. So take a reality pill and strap in.

Brian Hopkins is a Vice President and Principal Analyst at Forrester Research.

Topic: E-Commerce

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