What Is The Ideal Bitcoin Culture


Teggy Altankhuyag is COO and Co-Director of Coinfloor.

This is a time of great change and great opportunity – both for the financial sector and for society in general. We in the bitcoin industry are actively involved in the development of money. It cannot be denied that our current financial system has its advantages, such as affordable and fast banking and payment processes for some consumers, but it also has many disadvantages that could not be addressed until recently. The current financial system is centralized, allowing inflation and exclusivity. Users have no choice or power over the impact it has on them. In addition, these standards have a broader and more serious impact. As humans, our actions have become more inflationary and exclusive. In my view, this shows in how we use resources, regardless of the impact we have on other species and our planet.

Bitcoin is already helping to change that by giving us an alternative system. Public blockchains encourage everyone to rely less on central parties and to be more independent and responsible with their money. By reducing the inefficiencies in the current system, we can also focus on more important societal issues like reducing financial crime, achieving better financial inclusion and, perhaps most importantly, promoting values ​​that should empower users to be more accountable .

Driven by values

In my opinion, that final goal is something that everyone involved with Bitcoin should strive for – to promote a financial system that benefits all of humanity and our environment. Our industry is new and its culture is evolving. We have the opportunity to shape one’s culture into something that is driven by values. something that encourages and enables us to act in a more sustainable, reliable and inclusive way than anything that has happened before.

In fact, the basis for such a culture is anchored in the Bitcoin Code: Bitcoin does not discriminate based on race, creed, gender, or nationality. It is up to us to work from this base and apply it to our daily work and life. We can nurture, collaborate, and value our differences – even celebrate. We can stop competing against each other and instead fight against poverty, injustice and unsustainable practices.

The next step

Some people might think this is a little idealistic, but I’m confident that we can make these cultural changes happen and become a really great industry. Because the cooperation and our ability to work together successfully have already brought us to where we are today.

To take the next step, we need to identify the values ​​and principles that we want to live by sharing them and acting on them. Evangelizing and deliberate action – small as it may be – will help us ensure that we continue to grow as an industry and achieve our goal of a values-based culture.

We’re not there yet, of course, and there are obstacles along the way that we must overcome. I’ll examine these in more detail in my next post. For now, I would like to ask you to consider what your ideal culture would be in the Bitcoin industry and what areas you could address as part of this ongoing development. Each of us has the opportunity to contribute to our mutual success – which action will you choose?

This is a guest post by Teggy Altankhuyag. The opinions expressed are solely their own and do not necessarily reflect those of BTC, Inc. or Bitcoin Magazine.