CoinGeek’s Charles Miller joined Andy Webb on the recent Cash Chats podcast to discuss Bitcoin, digital currency and why BSV is the future.
The appearance comes amid a frenzied cycle of speculation on digital currencies like BTC, with ordinary investors across the world becoming more aware of the ‘get rich quick’ style image of cryptocurrency speculation.
However, Miller said that while some people think of Bitcoin as a form of digital gold, this is a stark change from its original purpose as a tool of utility.
Miller told the host that there was a serious risk of over optimism and fear of missing out in investing in BTC and other digital currencies speculatively. Rather than simply a tool of gambling, he said Bitcoin should deliver utility 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. Rather than a speculative digital currency, BSV is the protocol on which startups can build companies and apps, powered by blockchain technology.
Rather than just allowing money to move from one person to another, BSV provides the rails to exchange data more effectively too, without a central third-party authority. According to Miller, there are a significant number of practical use cases across different organizations, industries and government functions.
He gave the example of healthcare and medical records, as one instance of a complex data system that is set to benefit from BSV technology. Under existing systems, health data is inaccessible, siloed, cumbersome to use or share, and costly.
But with all data written to the blockchain, access to reliable, accurate, up-to-the-minute healthcare information can be more easily controlled and shared, leading to significant efficiency gains.
While BTC’s price rollercoaster will leave winners and losers in the short term, it is the longer term picture of BSV and blockchain technology that will significantly change the world.
See also: CoinGeek Live presentation, From the Internet to Bitcoin: The Digital Ledger to Advance the World’s Technology Infrastructure
New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.