In a recent episode of CoinGeek Conversations, Dr. Jürg Conzett talks with host Charles Miller about some interesting facts with regards to the history and evolution of money. Dr. Conzett, who has a background in finance receiving his MBA from Stanford and working with Citibank in New York and Tokyo, founded the Money Museum. The museum was originally launched virtually on the web and is now established in a brick-and-mortar location in Zurich.
An interesting bit of insight from Conzett occurred when he shared that money today and how its handled is far different than in the past. He explains that in history, the value of money was constant. “If there was a pandemic, you close shop, put the coins on the shelf, waited six months, then opened again, the coins still have the same value. Not so with our money, a pandemic hit, and the next minute the money begins to disappear,” said Conzett.
There’s a lot of excitement and concern on where and how money will change in the next few years. With the development and success of Bitcoin, central banks have begun looking into the launch of their own versions of digital currency, which is believed at least by some, to be government’s response to fear of what the future holds for money. Jürg foresees a future where these central banks and their digitized currencies will be controlled by governments.
Currently, no banking financial institution has launched their digitized currencies on the blockchain. Whether they just aren’t prepared or still waiting to see what happens with cryptocurrencies, the blockchain will at some point, be incorporated in the digitization of currency. While there are several blockchains existing today, there is the likelihood that no more than one will be in existence in the future to sustain the digital currency conversion. Only Bitcoin SV has the ability to scale, maintains security, processes transaction at superfast speeds, and has the transparency of being publicly visible. These features alone put BSV well ahead of the others.
Lastly Dr. Conzett shares “In my opinion, there will be one blockchain which attracts most because it will be the most efficient, and the most efficient, I think will win.”