The former CEO of Google Africa said in a recent conference that Bitcoin is the key change the future of the humankind. He believes that the cryptocurrency will help those without access to electronic forms of distribution of value or cash.
Stafford Masie, a computer scientist and general manager of WeWork South Africa, said that Bitcoin (BTC) will change the future of humanity.
The former CEO of Google Africa explained that the cryptocurrency will be able to help humanity more than any other innovation. In a conference, he said that an exchange of value without intermediaries is the greatest gift that humanity has received technologically.
He also claimed that crypto wallets are misunderstood and misused. In addition, he assured that their use is being distorted so as to make them look complicated.
Although Masie believes that BTC will be able revolutionize world trade, he thinks that its main potential is not for developed economies. On the contrary, he considers that the cryptocurrency will be of help for “third economies.”
He said that a third economy is an economic model in which people do not have access to electronic forms of distribution of value or cash. For example, the people who live two hours outside of Shanghai City, the central coast of China, will use Bitcoin to trade and unlock international transactions outside existing frameworks in a way that cannot even be imagined.
In addition to this, Stafford Masie addressed the issue of fundamental misconceptions that people have about Bitcoin, one of which is its alleged piracy. He emphasized that exchange houses are the ones that can be hacked rather than Bitcoin.
Innovation and WeWork Problems
Stafford Masie also mentioned the fact that technology corporations can be considered to be a milestone for global markets.
When combined, the value of the net assets of Apple, Amazon, Alphabet, Facebook and Microsoft represents the same value as the combined S&P 500 companies. This is something extraordinary, since a concentration of wealth like this has never been seen in history before. Together, these companies have a value that is equivalent to the gross domestic product rates of some countries.
On the other hand, he also explained some of the problems faced by the company that he leads. WeWork, which experienced a dramatic growth, withdrew its initial planned public offering of USD 47 billion. The company did this at the beginning of this year amid a series of controversies about its business and government models.
At the beginning of this week, it was reported that Masie’s company was ready to fire 2,000 of its employees imminently, a figure that represents around 13% of its workforce.
This can lead many to doubt about how reliable Masie’s words really are, considering the existing controversy over the company that he manages.
The main cryptocurrency of the world allows exchanging value without third parties, which makes it the greatest technological gift. It will particularly help those people who do not have access to electronic forms of distribution of value or cash. Finally, its levels of security are higher than those of exchange houses.
By Willmen Blanco