This series of posts records my attempt to understand Bitcoin and the Blockchain.
I am a Fintech entrepreneur . I am NOT:
– a financial speculator or Bitcoin Miner (so I am not selling my portfolio)
– in the media business (so I am not selling page views or conference seats)
Bitcoin comes up in conversation with team members, partners, press and investors, so I need to understand the basics. Writing helps me to get my thinking clear and connect with others who are fishing in similar waters.
I expect readers to be reasonably familiar with the basics of Bitcoin (there are many very good introductions online).
I call it the “rabbit hole”, because like Alice you have to suspend disbelief and be ready to see strange things when you explore Bitcoin.
This is my wrap-up post. Bitcoin is a big part of what we cover at Daily Fintech, but it is only one part. I am a Fintech entrepreneur, not a Bitcoin entrepreneur.
At first, I tried planning out the sequence of posts but I soon found that my explorations led me to interesting new posts that I had not anticipated. In other words, these posts emerged as my understanding of Bitcoin grew. I have not attempted to rewrite the earlier ones based on what I learned later. Other people who are on the same journey of exploration may appreciate the travel tales as well as the map.
Each post addresses a question:
Who will create the Netscape of the Bitcoin era? This question started my exploration. The accepted wisdom is that Bitcoin today is like the Internet in early 1990s, before the Netscape browser made it accessible to the mainstream. Later I thought that Netscape is the wrong analogy and wrote a new post on Who will create the iTunes of the Bitcoin era?
Will M-Pesa or Bitcoin be the first global payments service? I posted this on ReadWrite and got flamed by Bitcoin aficionados for suggesting that M-Pesa had a chance. I still think Bitcoiners have a western mindset and really do not understand the needs of the 70% of the world that is unbanked. The interesting opportunities are related to bringing Bitcoin and M-Pesa together to solve real world problems. In other words it is not Bitcoin OR M-Pesa but rather Bitcoin AND M-Pesa.
Ethereum, Maidsafe, Blockchain and the emerging P2P decentralized stack. This started with a question: “if you had the Blockchain and wanted a killer app, would you create a digital currency or something else?”