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Bitcoin has been described as a decentralized, peer-to-peer virtual currency that is used like money - it can be exchanged for traditional currencies such as the U.S. dollar or used to purchase goods or services, usually online. Unlike traditional currencies, Bitcoin operates without central authority or banks and is not backed by any government.
We need to come up with use cases for this technology that drive clear benefits for individuals and institutions - these are our customers. Too often we see bitcoin and blockchain technologies as solutions in search of a problem. We don't just need these systems to be technically better than the alternatives - we need them to be more user-friendly.
When we look at government in Washington or what's happening on Wall Street, we see so much centralization. But really, our goals should be to eliminate and overcome these central institutions. And in recent years we have gained powerful new tools to do this, and most significant among those is the block chain, which is the software behind Bitcoin.
