Digitizing existing fiat funds will be a smart decision to get a more stable financial system in the world that is not specifically tied to the dollar, as is the case in big business. Bitcoin is seen as a custodian of value, why not banks to develop their own coins.
Of course, it seems that in the short to medium term we are going to witness all kinds of playing around when it comes to various entities getting in the money printing business, and of course, BIG banks that are tied to a variety of national currencies have already been in the process of printing money and digitizing money for years and years and years, so I am not sure if there is anything new going on in terms of the bank money printing business.
Bitcoin has surely drawn some attention to the money printing "problem," so I doubt that digitizing is really the hinge about what is going on and what are the dynamics and incentives that bitcoin brings to the whole world financial system that has gone down a road of ongoing money printing problemas.
In the end, whether BIG banks digitize or not, they are likely NOT going to be able to control ongoing evolution of public sentiment that is likely to progress because of systems like bitcoin, so yeah, it could take decades to work out the various battles, yet so long as bitcoin does not screw up, seems like the vast majority of value is going to continue to gravitate into bitcoin, even if there are various kinds of smoke and mirror attempts from various status quo financial institutions that might attempt to suggest that bitcoin brings digitization of money when in reality bitcoin is really bringing responsibility in terms of money.. and in terms of really having a rules system that is enforced by nodes that will likely continue to incentivize responsibility within bitcoin, and central systems do not really have anything that incentivizes them to compete with bitcoin because ultimately centralized systems devolve into money printing - and bitcoin is, so far, the best incentive structure that is enforced by massive computer decentralized proof of work that reframes the whole monetization away from printing more coins.
Don't engage the account farmers please.
Did someone die and put you in charge of my ability to exercise posting discretion?
What a world, what a world!!!
What would really drive worldwide adoption?
Biometric scans and mobile devices, maybe?
This means everybody must have a smartphone or device that is able to process QR codes and do OCR (scan bitcoin addresses), which is additionally offering a retina-scan camera, fingerprint sensor, saliva-analyzer or similar, to make sure that only the owner of the device can access the private key, decrypt the seed, handle transactions (and so on).
As cool and clever BTC might be, as hard and risky it is to use for average joe. He wants to flick an rfid card, maybe enter a short pin code, but that's it. Everything more inconvenient will scare him off, and average jane even more. Simple interfaces using secure backend solutions.
Don't call me names, i'm just brainstorming.
Who wants to join?
Brainstorming has a simple rule: No criticism allowed.
Instead of "You can't do X, because Y..." it's "To achieve X, you need to realize Y first, (which is dependent on A,B,C...)"
It's strictly constructive.
Anybody in?
EDIT: Maybe there's an existing thread, please point me to it if you know. If not and this starts to get somewhere, i'd start a new thread and ask the mod to move over existing comments.
Might be a good topic for a new thread.., especially if you don't want the questions and answers to get lost in the mess... and of course, sometimes brainstorming does involve criticisms... these here are the interwebs.. not necessarily always the safest of spaces, and does it really matter if people criticize from time to time?... you fucker.