28 Sep '14, 3am

The “Bit” and the “Coin”: The two huge opportunities hidden inside bitcoin

The “Bit” and the “Coin”: The two huge opportunities hidden inside bitcoin

The “Bit” and the “Coin”: The two huge opportunities hidden inside bitcoin By Santi Subotovsky, Guest Contributor On September 27, 2014 [Editor’s note: This is a guest post by Santi Subotovsky, partner at Emergence Capital. The post went through PandoDaily’s usual editorial process. Mr. Subotovsky was not paid for this post. ] Most people think of bitcoin as a mere replacement for fiat money, or what we think of as “cash.” While currency is the best-known application of the bitcoin protocol, there are even more compelling disruption opportunities outside the finance world that we’ve barely even begun to tap into. So, when people ask me about bitcoin, I like to explain that there are two things going on here: the bitcoin protocol (the Bit) and a bitcoin currency (the Coin). The “Bit” Side of Bitcoin Bitcoin’s biggest disruption is the distributed system in which every trans...

Full article: http://pando.com/2014/09/27/the-bit-and-the-coin-the-two-...

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