Why Bitcoin Is More Likely To Spark New Systems Than Destroy Existing Ones | BTC

When bitcoin investors discuss the long-term potential for the cryptocurrency, one of the most popular words to come up in the discussion is “disruption.” Bitcoin bulls argue that cryptocurrency will turn the global financial system completely upside down. However, KeyBanc analyst Ben Wilson said this week the bitcoin blockchain story may be more about creation than destruction.

Intelligent Applications

According to Wilson, the blockchain mining networks created by cryptocurrencies like bitcoin and Ethereum will be the starting point for a brand new generation of intelligent applications.

“The applications built on top of these exotic compute grids (many by incumbents) will likely comprise the biggest near- to medium-term impact from blockchain and crypto, in the form of changed competitive landscapes and new company formation, rather than disintegration of existing corporate power structures and displacement of the global fiat currency system,” Wilson…

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