New trends in the financial ecosystem – Jori Armbruster from EthicHub
Internet is making the financial system to evolve. Fintech 1.0 projects were about using internet to make the financial system more efficient and / or more user friendly, but the real disruption comes with Blockchain, the internet of value. Blockchain is a replicated and distributed ledger that is not controlled by any central entity but by its own users, eliminating the need of middle men for the transfer of value.
The first and clearest use case for this technology is the creation of digital money. The unknown Satoshi Nakamoto invented Blockchain and bitcoin: a decentralized, immutable, transparent and impossible to copy new kind of money. Central Banks have lost the monopoly on the emission of money and now people can choose which currency they trust better: Fiat Currencies (Euro, Dolar, Bolivares, etc.) or Crypto (bitcoin and / or other new cryptocurrencies). Year after year, more people choose bitcoin as the best way to keep (and increase) the value of their savings. I personally believe this tendency will not stop and bitcoin will become the universal reference and store of value.
Blockchain will bring huge impact in almost every sector. Cryptoeconomy and its immutable digital money and Smart Contracts mean saw hole new model for the financial system. As with dotcoms, a fast growing bubble was created around this new technology that will change the world, preceding the real impact of Blockchain.
Internet really changed the world, and now Blockchain and AI will change the financial system much faster and deeper than we can imagine.
Jori Armbruster Coordinator Node and Co – founder of EthicHub
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