Why are Crypto Currencies so revolutionary?
I think its time we start talking about it.
Its not easy to grasp the implications of Crypto Currencies, but lets try to get a better understanding.
The era of Bank dominance is coming to a close. The era of fait currency is soon finished. We are moving into a decentralized, shared, distributed economy. No longer does our money have to be controlled by one central authority. Now (with things like Bitcoin) our economy has the potential to be peer to peer.
Imagine Uber, except the transaction is done through a smart contract using the Ethereum network. No middle man. No intermediaries. No fees. Just you and your client. Peer—><—Peer. You set the price. You create the rules. And clients will choose the best offer.
Imagine you are buying a house, except you place the value of your home on a blockchain and distribute it. With Crypto, you can now Tokenize your home. You could theoretically take your house, and sell small fractions of it on the block chain. Now your house essentially has its own "stock price”.
Imagine you send a smart phone to a small village in Africa, and now that smart phone is a Bank. Not only that, but the smart phone will provide that village with full financial services through blockchain technology. No fees, no middle man, no central authority.
Keep in mind, Crypto “Currencies” are not just about money. We can now use Blockchain technology to create voting systems. Tamper proof voting systems. Where all the information is stored in a BlockChain that cannot be changed. Rigged voting could be a thing of the past.
Describing Crypto Currencies as "money" is a very narrow view point. It is MUCH MUCH more then that.