Bitcoin may currently trade in wild swings, but the technology behind the digital currency has the the potential to change the entire financial system, said Michael Casey, author of ‘The Age of Cryptocurrency’. Casey added that Bitcoin is disruptive because it removes intermediaries and middlemen from the system by verifying the authenticity of a transaction. He viewed the Mt. Gox scandal where Bitcoin were stolen from the system as an opportunity for innovators to build new tools to make it safer. Finally, Casey said speculators and technology enthusiasts are primarily using Bitcoin now, yet it will gain popularity once its safety is assured.
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