The future of bitcoin how to prevent the emergence of a Greek

The future of bitcoin how to prevent the emergence of a Greek

Even behind bitcoin blockchain with and side chain technology and its There is nothing comparable to this monetary attribute, infinite divisibility, but because of the Greek government to abandon the euro, bitcoin will not As the birthplace of Western civilization. But the wise advisers or trying to give advice and suggestions for the Greek government, such as the words below mentioned in the “mortgage money”, perhaps really To help the current situation in greece.

Bitcoin is a virtual digital currency without stability. Although it cannot be used to solve the problem of Greece faces, but for the upcoming monetary crisis is a great invention.

Is the fundamental problem of Greece, it cannot print money in the euro zone, the output of cheap labor and goods to solve its own government fiscal vulnerabilities. The current status of Greece is: Foreign Transfer of funds were frozen, daily withdrawal amount of the euro is restricted, many enterprises are facing bankruptcy, people can not buy daily necessities.

For Greece, only use the euro to buy bitcoin — and the euro is the last straw that Greece can seize the. This is why now bitcoin can not resolve the humanitarian The causes of the crisis.

But bitcoin can be said to be a turning point, its development speed far beyond all things, but are the most difficult to be observed. No matter what change, rely on the technology behind it Now since the exchange of human physical difficult to imagine possible.

You can’t believe what I said, because almost every week there will be some large institutions claimed bitcoin is not cold. But UBS (UBS) chief information officer bit Money could lead to a banking “large scale simplification”; the Bank of England thinks it will have a far-reaching impact on some day in the future “”. DDT (one of the world’s four major accounting firms) in Recently released a report on the “state funded encryption currency to replace the traditional currency potential” report. Now even the NASDAQ in bitcoin technology in the measurement of securities Test.

The former finance minister Yannis Vamufakis (Yanis Varoufakis) more than a year ago in his blog that, if Greece is to create the domestic currency to replace the euro, then it Or permit the adoption of bitcoin technology to create a named “future tax money” (Future Taxes). The value of money by the government in fiscal revenue to escort the next stage of adduction .

If you think quickly from Greece to the idea of digital currency currency produces somewhat ridiculous, so let’s look at the reality of Greece is how to deal with this crisis? Many enterprises are busy Do deal with the currency crisis in practice, such as using ious or scrip to pay suppliers and staff salaries, and promised once the banking deregulation of company funds immediately pay their remuneration.

Michael? Casey (Michael Casey) has been working in the media lab at the Massachusetts Institute of Technology, recently became the Wall Street Journal reporter, I think he asked whether the blockchain technology can be used To issue a certificate. Of course, he also explained to me that this mechanism could be called “side chain” technology.

Know the principle of understanding bitcoin side chain “technology will help us better. Broadly speaking, all transactions are recorded in a block called the main chain of digital books On. Its working principle is the same as the Pharaoh of Egypt in the mud on the board to record the quantity of the same grain storage.

The general ledger is not bitcoin store or handle via a central mechanism. On the contrary, it is distributed in the global computer. 其中的一些计算机被授予某经济激励机制以保持整个 The operation of the network system. The whole operation by the established system, so users don’t need to trust each other, no trust center or a bitcoin transaction institution of people. Third party audit The nucleus does not occur, there is no need to happen. This system not only than the existing digital transactions much faster and cheaper.

Based on the agreement, bitcoin has a lot of plasticity to make it suitable for all kinds of transactions, including contracts, stock issuance, replacement of any currency from the dollar to the frequent flyer Award – km Type. The side chain helps to realize the possible.

But this is only the beginning. Because bitcoin is now to the direction of the development of non monetary agreement. As a communication protocol, the network has become like the Apple App store as a platform. only It does not expect the system developers.

Another of Casey’s thoughts is that Greece can create a support from state-owned assets, mortgage money”. As long as the trust of the people of the whole territory of the Greek Islands, ports and factories etc. these entities of state-owned assets Production. Encryption can replace these assets (money as capital for sale).

Further, perhaps the way digital currency is a permanent institution of all currency crises (barter) last resort.

“Why barter is defective? Because you can’t take a stand horse into half and then go for equivalent bow. But encryption currency as a part of the assets, is infinite Can be divided into the. If your assets can be unlimited segmentation, then you can take 1/3 horses to change to Mexico Acapulco travel.”

Money is the most fundamental problem for greece. The bitcoin block chain technology the best place is that it is the creation of money becoming democratic. Many observers believe that Greece’s debt and the whole The lifeblood of the future direction of the EU is this.

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