I wanted to provide a heads up to readers here that I am pleased to announce that I will be able to run a two part in depth article on Bitcoin and Blockchain technology this coming Saturday. The article will be one of the best I have been able to present on this blog because a leading global expert on payment systems was willing to share his thoughts on this topic with us. The article is so in depth that I decided to break it into two parts to make it easier for readers.
This article is a somewhat rare opportunity to hear from what I view as one of the leading experts in the world on this topic (payment systems). This expert does not seek publicity, but was willing to grant permission to share his thoughts in this article. Most of the contents of this article are his direct comments with only very minor editing here and there.
I have covered Bitcoin a little on this blog and had decided on my own that it was not likely to see widespread global adoption even though some very high profile people are backing it and it has gotten a lot of media attention. I had several reasons why I felt the technology was not likely to be widely adopted, but I had no idea of all the challenges it faces to ever become widely adopted. It could still happen, but wait until you see all it has to overcome.
By no means is this article intended to run down Bitcoin or discourage anyone who wants to use it from doing so. But when we have a chance to hear from someone who has known the key players in Bitcoin from day one and made his own decision that it was not the right way to go in the future several years ago, I think we should take that opportunity. Our expert lays out what he feels are the important facts about this technology that people need to understand when you hear about it in the media.
In an email he told me that it had been three years since he last looked at Bitcoin in depth, but in preparing for this article he still sees the same issues and problems he did then. He added that he has no ill will towards Bitcoin or blockchain technology, he just feels there is a lot of missing information on it that people need to know about. I learned a ton of information from what he shared in the article.
I was amazed at the time and effort our expert put into this article. He offered all that for free despite the fact that his time is extremely tight and valuable. The reason he did it was because he supports what I try to do here on this blog in providing the best information possible to try and help the average person with these complex issues we are faced with these days.
After you read this article, I hope you will appreciate as I do that there are some very good and knowledgeable people working inside the current system who actually do care about the average person.
Only a person like that would have donated this much time and effort to help out a relatively unknown blog for an article like this. There is no possible way I would be able to publish this article without his contribution as I simply do not have the expertise to do so. I am happy to admit that.
I wanted to provide this heads up so readers will be looking for the article on Saturday and hopefully will appreciate all the time and effort that was put into it by our expert. A huge thank you for that is extended here! Look for both Part I and Part II this coming Saturday.