“Bitcoin desperately needs design”

The IDEO futures podcast interviews Andreas Antonopoulos, author of Mastering Bitcoin.

In the interview he is talking about design methapors and the problems surrounding Bitcoin and blockchain mass-adoption right now.

It’s interesting too see that a lot of the things happening in this space are inevitable. At the same time there is still so much too gain. From a design perspective there is huge potential in this domain.

Certainly worth your time to listen if you’re into bitcoins and design.

My thoughts on Bitcoin and why crypto currency will be a success

We read a lot about Bitcoin, that it’s based on speculation and has no ‘real’ value. Yes, Bitcoin is hyped and could be overpriced, but this doesn’t mean it’s useless.

I think Bitcoin, or/and other crypto currencies will be successful just because we need something to transfer value that is out of control of governments and companies.

We need to respect laws and pay taxes. Most of us have always been doing this even when we didn’t have bank accounts. Being afraid for illegal transactions doesn’t mean we need gatekeepers on the only thing that easily transfers value from one person to the other, some form of money.

Seperation of powers
Remember PayPal, Visa and Mastercard holding back payments to wikileaks.

This event made clear that at this moment creditcard companies are the online gatekeepers in deciding who can pay who in the digital era. There is no separation of powers.

This is not a sustainable model. I believe this is why the web will embrace crypto currencies.

I just paid 0.00662 Bitcoins for a cup of coffee. Are Bitcoins the future of money?

This week I paid my first coffee with Bitcoins at the Border Sessions festival using a BitMyMoney counter.

I’m not sure if Bitcoins are “the future of money”, I’m pretty sure they aren’t the only future and that there is a need for digital money with the freedom that we know from coins and paper money.

Bitcoin is a system that can perfectly co-exist with current systems out there. Although it can use some user experience enhancements. It is still quite difficult to understand and you pay with long strings you can’t understand, complex applications and QR-codes. Bitcoins could use a bit of Square Register to make it really work.