We’ll explain some bitcoin features and also you have to take some care with them in crypto market today.
- Bitcoin deregulation
The first point to be commented on is the deregulation of bitcoin. This generates so much problems but solutions too!
The biggest problem with deregulation is that, you see, bitcoin is not issued by any government.
So since there is no central entity that can have control of that currency, if it generates a problem like the cases we see from brokerage firms going away with bitcoins, nothing too big can be done.
- Reduction of bureaucracy and intermediaries
If you have understood how the blockchain works, you may have realized what this might represent.
Imagine several online companies offering the same hotel vacancies for their clients.
After all, the company would have to confirm the purchase of their customer, send the purchase to the hotel, they would have to reserve the room for the customer of this company, confirm for this company and notify the others that on a date “x” the room is booked.
- Escaping fees
Understanding that blockchain frees us from intermediaries, we can then consider a significant reduction in the rates we have in doing the various transfer activities of our assets and similar processes.
Imagine that, for example, with this system, we would no longer need an intermediary, such as a bank, to make a transfer to another person.
- Preservation of privacy
It is a characteristic that we have to take care of. Can you imagine how much unnecessary information is now available on the internet for people to know about you?
The good side of the story is that with this new technology, we can keep all of our information on a block and have full control of what is disclosed to those who make exchanges.