Blockchain co-founder Nicolas Cary recently attended the Webit.Festival Europe 2016 in Bulgaria and gave a talk on bitcoin and the blockchain, and it’s revolutionary aspects.
Blockchain is a bitcoin company that provides several bitcoin services, such as the Blockchain.info wallet, block explorer, and developers API.
In the talk Cary discussed what Blockchain does, but not only the company he co-founded, but also why bitcoin as an global open immutable ledger is the future of money. Cary asked the audience, if you were to create money for the internet, what properties would you require of it? It would need to be counterfeit resistant, fungible, be able to send any amount, anywhere in the world, have a fixed supply, and most importantly it would need to be digital.
Below is the full talk courtesy of Webit Global Series.
In another part of the talk, Cary also speaks about remittances and sending money all over the world, and why it’s a slow and expensive process.
According to the World Bank in 2014, India alone had $70.3 billion in personal remittances. China had $29.9 billion, Mexico $24.4 billion, Nigeria $20.8 billion, Indonesia $7.6 billion, U.S. $6.9 billion, and Brazil with $2.6 billion. This is why Circle is banking on the bitcoin blockchain too.