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Why Bitcoin will last more than 10 years: challenges and future use cases
From and holistic point of view, rather than use cases and business models, bitcoin, lightning, and mining will drive a new economy, financial infrastructure, and the adoption of a hard money currency, backed by energy. A geopolitical disruption, at nation-states in uncivilized areas will advance the economy of underdeveloped countries and will bring civilization through electricity and new jobs.
Challenges
Bitcoin is a 14-year-old technology, Lightning is a 6-year-old technology. Although really young compared to the evolution of the Internet, they have, and continue to, experience an extremely fast paste evolution. It’s a network effect technology that needs to break many things before reaching the tornado effect in the technology adoption life cycle (Crossing the Chasm, Geoffrey Moore ). For this reason, there are obviously still lots of working progress, constraints, limitations, and challenges, that will soon, in a matter of years, overcome.
Beyond the detailed list provided, if I were to identify just five broad categories of challenges, they would be:
- Nation-State: the mindset to separate and legalize the separation of state from money
- Enterprise: accounting and compliance with regulation, security, and…
