[TheNextWeb.com] Bitcoin: The platform

[octoberasian]

http://thenextweb.com/insider/2014/02/15/bitcoin-platform-currency/1/

Economists have warned of the above scenario several times. No central authority backs this virtual currency. Investing in bitcoin is equivalent to pure speculation. It’s the new Tulip-mania. Money can therefore disappear like snow in the sun. In addition, the currency is discovered by the criminal world and it is used widely to money laundering. Bitcoin is purely “evil“, as Paul Krugman, a Nobel Prize-winning economist, recently proclaimed.

But there is more to the story than the economists tell. Of course there is no denying that the latest incident is a reminder that bitcoin is still an experiment. The real story of bitcoin however, is more complex. In this research paper we hope to explain that the bitcoin currency itself is ‘just’ the next phase in the evolution of money – from dumb to smart money.

A rather interesting article I read yesterday regarding Bitcoin, not as only a form of currency but as a platform for other things such as an entirely new Internet and economy.