BitCoin (BTC) an alternative to cash – Trends to watch in 2013

According to Global Trends in their GT Briefing December 2012: Trends to watch in 2013, they mention BitCoin as an alternative to cash under “Who needs Banks anyway?” section of their report.  This along with Mobile-wallets and Crowdfunding, are definitely things to keep close tabs on as I suspect they will gain significant traction to in 2013.

 

The Global Trends to watch in 2013 are:

  1. Social everything: New generations and their digital world stepping forward
  2. Redefining value: The consumer is winning the fight to own the new consumer
  3. Distributed everything:  Mobility in production and consumption
  4. The next “industrial” revolution: Robots and smart machines reshaping work
  5. The new space race: Pushing the frontiers of technology once again?
  6. Geopolitical wars: The fight to control the future
  7. Resource wars escalating: From a world of abundance to shortage
  8. Business stepping up:  From profit to purpose
  9. Information is power: The security challenge
  10. Who needs banks anyway? Reshaping the financial system

Extracted from Global Trends http://www.globaltrends.com/monthly-briefings/176-gt-briefing-december-2012-10-key-trends-to-watch-in-2013  Related presentation materials can be downloaded in PDF for further reading at http://www.globaltrends.com/images/stories/GT2013/Global%20Trends_Ten%20Key%20Trends%20to%20Watch%20for%202013.pdf

3 thoughts on “BitCoin (BTC) an alternative to cash – Trends to watch in 2013

  1. Bitcoin, similar to 3d printing would take at least 10 years before it becomes mainstream as the current financial transactions are still dominated by the traditional banking sector.
    With the 2008 financial crash worldwide, commercial banks are being moved back into its traditional business at the expense of working with innovations such as bit coin.
    Most importantly is that currency is ultimately based on trust of its holder and the market of its value. Such trust for this new product would only come when there is a thorough understanding of bit coins and the safety of its use.

    That said, it has the potential to disrupt the financial system as we know it, whereby banks and similar financial institutions are not the arbiters of commerce worldwide. The individual or a group of them can bring their influence to bear on the financial system in ways yet to be determined.

  2. BitCoin has a great initiative going with its ‘alternative to cash’ system. Bits with the potential to be gained and used virtually anywhere is excellent. The code being open source and no cost to setup will persuade a lot of online businesses to implement this solution. As if they could not be persuaded enough, the fact that there is no middle man which can potentially reduce the cost of a business’ products or service is enough to at least invest some time into.

    I can see BitCoin being used in solutions I implement and for businesses located in countries where no ‘real’ instant online credit card payment facilities exist.

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