Many people have heard of Bitcoin and if you’ve done any research on the overall adoption of blockchain-based money is the speed at which transactions take place. They are too slow for Bitcoin to replace the much-faster methods that Visa and MasterCard use. It needs to be able to handle many transactions per minute.
The advantage, however, is that blockchain based record-keeping is extremely reliable. Bitcoin has proven this because the blockchain is available to anyone, you can go back and look up the very first bitcoin transaction. Any bitcoin transaction is permanently logged, and that’s by design.
- Mayer Amschel Rothschild (1744-1812), founder of the House of Rothschild.