CoinGeek’s Charles Miller took part in the recent Cash Chats podcast with Andy Webb to discuss Bitcoin, digital currency and why BSV is the future.
The gig takes place amid a frenzied cycle of speculation over digital currencies like BTC, with ordinary investors around the world becoming more aware of the “get-rich-quick” image of cryptocurrency speculation.
However, Miller said that while some people view Bitcoin as a form of digital gold, it represents a marked shift from its original purpose as a useful tool.
Miller told the host that there is a serious risk of over-optimism and fear of speculatively investing in BTC and other digital currencies. Rather than being just a tool of gambling, he said Bitcoin should be of use to those who use it.
He spoke at length about Bitcoin SV (BSV) and how BSV reflects the original vision for Bitcoin. Miller described BSV as similar to the beginnings of the internet. BSV is not a speculative digital currency, but the protocol on which startups can build companies and apps based on blockchain technology.
Instead of just allowing money to be transported from one person to another, BSV offers the possibility of exchanging data more effectively without a central third-party authority. According to Miller, there are a significant number of practical use cases across various organizations, industries, and government functions.
He cited the example of health care and medical records as an instance of a complex data system that should benefit from BSV technology. Under existing systems, health data is inaccessible, isolated, cumbersome to use or distribute, and costly.
With all the data written to the blockchain, access to reliable, accurate and up-to-date health information can be more easily controlled and shared, which leads to significant efficiency gains.
While BTC’s award roller coaster will leave winners and losers in the short term, the longer-term picture of BSV and blockchain technology will change the world significantly.
See also: CoinGeek Live Presentation, From the Internet to Bitcoin: The Digital Ledger for Advancing Global Technology Infrastructure
New to Bitcoin? Read CoinGeek’s Bitcoin For Beginners section, the ultimate resource guide, to learn more about Bitcoin – as originally envisioned by Satoshi Nakamoto – and blockchain.