The World is Watching Bitcoin Future

Initially, the bitcoin was created to enable payments without institutions, without banks, without states, without central banks. This is especially important and useful in countries where institutions are not working very well. El Salvador is one of them, but there are a lot of others, in Latin America and Africa, as well as other parts of the world, where banks are not very trustworthy and efficient.

So, for those countries, if things work well in El Salvador, they might follow up with something similar to what happened in El Salvador.

The bitcoin is just the first of many cryptocurrencies. But it was the first one invented. Basically, it’s the mother of all cryptocurrencies. And you have to remember this: it’s a distributed network. It has no central authority. It’s completely decentralized. Everyone makes decisions individually. That’s the beauty of the blockchain: it’s decentralized and distributed. But it’s also a problem when it comes to coordinating to change things.