- According to Andreas Antonopoulos, the concept of digital assets is much more accepted in countries with struggling economies.
- But digital assets like Bitcoin (BTC) have great potential and are demanded universally.
In a technical U.K. based podcast hosted by Peter McCormack, Bitcoin expert Andreas Antonopoulos shed some light on the current scenario of digital assets, he commented that digital assets are much worthy for people of countries with struggling economies rather than that of countries with a stable economy.
He also stated that currently, the western world is enjoying the fact that they have the best forms of money provided to them where else southern and eastern countries have the money system which rather than focusing on efficiency and commerce are focusing more on surveillance and gaining political power by even excluding huge businessmen earning in billions.
This is where digital assets like Bitcoin comes into play, it provides a platform which is accessible, open, neutral, borderless, immutable and permissionless that treats everybody as equal no matter who they are.
Future of Bitcoin in western countries
Regarding the future of Bitcoin in western countries, Antonopoulos commented that people of western countries will start understanding the worth of digital assets like Bitcoin when they will start observing the limitations of traditional money they are relying on.
In this digitally advancing world, where autonomous systems are interacting with each other, they would definitely require a digital transaction platform.
He gave the example of autonomous vehicles that for it to interact with an electric recharging station it would be needing a digital payment platform which should be something like Bitcoin.
He also debated on the topic that Bitcoin can be proved useful for preserving individuals’ rights and freedom, by the use of credit and debit cards user is forced to reveal his/her personal details including his location, social network information which can be all tracked and stored.