THOUGHT LEADERSHIP
THOUGHT LEADERSHIP
THOUGHT LEADERSHIP
Will open-source cryptocurrency eat proprietary money?
As the tidal wave of open-source money disrupts the entire stack from computing infrastructure to software developers, alpha geeks and pure entrepreneurs are getting in on the ground floor of what they believe will be the primary currency of the future.
“Open source has eaten software … so, now, what do you think is going to happen next with open-source money? Open-source money is going to consume proprietary money,” said Miko Matsumura (pictured), initial coin offering advisor, founder of crypto exchange Evercoin, and venture partner with BitBull Capital Management LP.
Matsumura spoke with John Furrier (@furrier), host of theCUBE, SiliconANGLE Media’s mobile livestreaming studio, at the BlockChain Unbound event in San Juan, Puerto Rico. The discussion covered the definition of cryptocurrency, breaking news within the field, and Matsumura’s predictions for the future of open-source money.
Currency’s new platform
“I’m not saying proprietary money goes away,” Matsumura clarified. “… If you watch what happened to open-source and proprietary software, the proprietary software industry is larger and more valuable than it’s ever been. … [Traditional currency] doesn’t go away, it continues to grow and become valuable, but what happens is open-source money will essentially take over all of the commodity functions and become the platform.”
The transition from physical to virtual currency is already well underway, Matsumura added. “If you buy something with a credit card, what do you think is happening?” he asked. “It’s all software. So money is already software.”
Matsumura is confident about the transition of cryptocurrency to the mainstream because it competes for consent with traditional means of payment, acquiring users by providing better services. “And what government entity can resist, for the long term, something that’s actually trying to provide a better and better and better financial infrastructure?” he concluded.
Watch the complete video interview below, and be sure to check out more of SiliconANGLE’s and theCUBE’s coverage of the BlockChain Unbound event.
Photo: SiliconANGLE
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