An article appeared in the Wall Street journal commemorating 10 years since Satoshi released his whitepaper entitled “Bitcoin: a peer to peer cash system”. But it’s not a cash system today. Not even Bitcoin Cash has become a cash system, despite trying to be “closer to Satoshi’s vision”. The main reason they haven’t gained mass adoption for payments isn’t securities laws or anything, it’s just a technical reason (scalability) and an economic reason (money in everyday circulation is a local community phenomenon).
The tagline of the article says: The digital currency was meant to be a payments network. That isn’t exactly what happened.
I think that people are starting to recognize that new approaches are needed in order to get people to actually use crypto for payments. Otherwise, they’re going to keep using centralized banks and social networking apps like WeChat to pay each other.
Intercoin can help each community control their own money supply and put rules governing how people can cash in and out. And Intercoin provides liquidity between all communities and also outside currencies (fiat, crypto). If developers can build community currency apps like UBI and Analytics on top of the platform, I think we can kickstart a revolution for the next 10 years: programmable money on a general-purpose community payments platform.