(Rejected) Bitcoin is an Indispensable Gift to the Human Race, Notes Stafford Masie

Stafford Masie, WeWork South Africa’s general manager, has proclaimed that Bitcoin will be instrumental in transforming the future of humankind as compared to any other technological advancement. 

During the SingularityU South Africa Summit, Masie, who served as the CEO of Google Africa, stipulated that the way Bitcoin was being used as a value exchange with the absence of intermediaries was the greatest gift to humanity from the technology sector. 

Crypto Wallet Ideal in Transforming Worldwide Trade

Masie asserted that the crypto wallet is usually seen as complicated, misrepresented, misused, and misunderstood. Nevertheless, it is just a matter of time before it alters global trade. 

According to Cointelegraph, Masie also argued that crypto wallets’ potential is not in the already highly digitized and developed economies but in “third economies” where barter systems still thrive. 

He stipulated:

“The third economy is an economy where people don’t have access to electronic forms of distributing value or cash [...] Think of the people who live two hours outside Shanghai, China’s central coast. They will use Bitcoin to trade and unlock international transactions outside of the existing frameworks in a manner that you and I cannot imagine.”

Masie was also instrumental in addressing one of the Bitcoin’s misconceptions about hackability. Expressly, he stressed that exchanges are the ones usually hacked, not Bitcoin.