Vitalik Buterin wrote an article for Bitcoin Magazine (@BitcoinMagazine) describing how Bitcoin is a tool that will be particularly useful for the Chinese. Exerpts:
“Because capital controls prevent most people from investing in foreign assets, the range of places that low and middle income families can save their money is very limited.”
-
“Although banks can protect your wealth from the common crook on the street, they offer no protection against the kleptocrats on the top, who control the banking system itself.”
-
“Bitcoin should be seen not so much as a technology of economic efficiency, but rather one of democratization. The present, heavily state-controlled banking system is clearly not working for the people, and there is an opportunity for disintermediation to bring costs down for businesses, while at the same time ensuring that working class individuals are not quietly robbed of their savings.”
- http://bit.ly/OGdTzn
Additional Community Discussion Of This Article:
- http://bit.ly/MGmTA1 (Reddit /r/bitcoin)
All News - Twitter: @BitcoinNews