As a former lecturer of International Relations, Faris enjoys explaining complex issues simply. Faris’ daily research into global financial markets, macro–economics and geopolitics enables him to keep up to date with how governments, private and inter-governmental agencies are now adopting blockchain technology and recognising Bitcoin as an idea whose time has come.
Bitcoin is a new technological force that is revolutionising not just the financial world but several other industries as well. However understanding Bitcoin is like trying to understand the intricacies of the internet in 1989 so it’s very difficult for people to competently invest in Bitcoin or any other cryptocurrency. As with most technological revolutions they are unappreciated by the layperson until they become embedded in everyday culture. The early adopters of Bitcoin were very tech savvy and could foresee the digital and financial potential it offered.
The difference between Bitcoin and the internet is that one could not invest directly in the internet. You could buy shares of companies that were internet based but not a piece of the internet itself; but when you buy bitcoin you own a piece of the blockchain and as bitcoin transactions have grown the price of bitcoin has appreciated. Yet for a ‘non-tech’ layperson trying to understand, Bitcoin, the Blockchain and decentralised finance (DeFi) requires proper education before one can competently invest in this space.
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