We are now almost certain that the future of bitcoin is promising. Bitcoin is in seventh year of its developing and growing of the network. Only the development of bitcoin protocol is a very time consuming process which is makes bitcoin what it is. As joel Spolsky says, “Good software takes 10 years. Get used to it.”
After we manage to create the proper infrastructure for bitcoin – which still requires a long way to finish it, with companies like Bloq, BitGo, 21.co, and Coinbase already contributing in the process, – we’ll finally get to see stable software in application layer.
But while we are waiting for infrastructure to be completed, it’s obvious that bitcoin network is evolving.
If we look closely to bitcoin mining we will find out that is its highly centralized in particular countries, especially China which generates 50% of the total hash rate in the world. But this will no longer be the case after all the effort companies like 21.co put in mining process.
If you check company’s about us page they say “someone needs to build the full-stack infrastructure for bitcoin, from silicon to software … that someone is us.” Recently they launched their first product called the 21 Bitcoin computer, which is a handy dev kit to help developers with bitcoin related application.
However this is just a beginning. 21.co is constantly improving their chips which in the future makes it possible to make a router that mines for you 24/7. Or embed a miner hardware in your cellphone, of Course it’s not for money making or block reward purpose, but for making bitcoin the fuel of participating on internet.
These days if you are searching on google you have to find your search results mixed with loads of advertisement and cookies tracking you where ever you surf the net. Developers can create a search engine to eliminate ads and all that tracking features, instead charge you with fraction of bitcoin each time you search using search engine.
Imaging companies paying consumer for accessing their data or feedback, instead of following us everywhere? Want to know that I am a 2-year-old female student in London? That’ll cost you 0,0003 BTC. In the future, this can all be all possible.
And now think about the underserved and under-banked markets. Bitcoin as a payment solution will have tremendous impact. Just look at the Coins that raised 5 millions in funding.
Finally, Bitcoin can be seen as a digital gold. One may believe that Bitcoin is volatile. Indeed it is. But what about oil? Bitcoin is not the only volatile asset these days. But people still trust it, and so should you.