Bitcoin has many advantages to offer, chief among them is freedom—from middlemen or even corrupt governments. At the recently held Expo-Bitcoin International 2019 conference in Bogota, Colombia, Bitcoin creator Dr. Craig Wright talked about how his vision of freedom “will corrupt nothing except corruption.”
Latin America is ripe for growth. In fact, Wright said the region has “a better opportunity to catch up and have faster growth than North America” with Bitcoin, which will enable LatAm countries like Colombia “to have information.” (1:16)
“We want to see a South America where people can sell everything they have for as much as they can so that their families can get education, so that their children can live better,” he said. “I want to see the extra few percent that so that people know where to go to get a little bit more, so that they can build wealth. Not another ICO that does nothing, but to be able to sell their crops in a tokenized market.” (4:20)
The goal, according to Wright, is to bring a peer market that will allow fishermen and farmers to bring their harvest directly to their customers sans middlemen. He explained: “That’s what peer means. It doesn’t mean everyone runs a node because miners will compete to do that. That’s what competition is. They will build a system that gets closer and closer to the minimum level of profit that allows them to operate. That’s what happens with specialization. You don’t want to be a miner unless you have a lot of money to invest because like airlines, the profit margin in the future on these multi-billion dollar industries will be miniscule.” (7:05)
But freedom with Bitcoin goes beyond creating a decentralized marketplace. Being free also means being safe, and for Wright, this means having the ability to report corrupt officials on the blockchain, having a system where people can post crimes immutably.
“We, the people of this world, want freedom. We, the people of this world, want to trade. We, the people of this world, don’t want to be oppressed. We want to have privacy. We, the people, want to be able to know that our children will be safe. That they won’t be preyed on by drug dealers, that they won’t be sold into people smuggling groups, and they won’t be basically taken out of where they’re meant to be. And this happens right now,” (12:26) Wright said.
This is why Wright said he created Bitcoin—not Bitgold, but an electronic peer-to-peer digital cash so people can make something of value that creates wealth and give people a voice.
“This is what we’re going to bring you with Bitcoin. This is my vision of freedom. It’s one that will corrupt nothing except corruption. We’re going to get rid of corrupt governments. We’re going to let everyone have a voice no matter how poor, how isolated, how anything. Everyone has a voice,” Wright said. (17:57)