How Bitcoin Could Prevent a Future Greece

It might be too late for bitcoin to save Greece from its currency crisis, but the digital currency is evolving fast enough that there’s a good chance it will help future crises. Christopher Mims, a writer for The Wall Street Journal, claims in today’s edition that digital currency is “at an inflection point” and evolving faster than most people realize.

“Whatever happens to bitcoin itself, the technology underlying it opens up previously unimagined possibilities for the future of just about anything humans exchange,” Mims stated.

For Greeks to get ahold of bitcoin, they need to buy euros, which is the last thing they want to give up under the current circumstances. There is a daily limit on the number of euros that Greeks can withdraw from banks. The unwillingness to part with euros is why bitcoin today has no bearing on Greece’s situation, Mims noted.

The Block Chain’s ‘Unimaginable Possibilities’

However, block chain technology opens up “unimaginable possibilities” for anything that people exchange. To prove his point, Mims cites continuous interest

Read more ... source: CryptoCoinsNews