The real power of Bitcoin is as a new kind of payment network

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There’s a lot of talk about the importance of cryptocurrencies such as Bitcoin as an alternative currency, but as Ezra Klein of Vox explains, the real revolution of Bitcoin is as a new kind of payment network, and one that’s outside the conventional ‘big profit’ networks with loads of restrictions on them.

And as an open technology network, it could be a “hot bed” for innovation, able to be used by anyone, for free, and serve to build a new generation of financial services that aren’t under a central authority. Kind of like the internet was in the ’80s.


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