Blockchain Solves The Problem Of Manipulation
“Blockchain solves the problem of manipulation. When I speak about it in the West, people say they trust Google, Facebook, or their banks. But the rest of the world doesn’t trust organizations and corporations that much. Blockchain’s opportunities are the highest in the countries that haven’t reached that level yet.”
– Vitalik Buterin, inventor of Ethereum
In an interview with Portia Burton we learn that unlike the banks who hold our money, decide how much money we can withdraw and how we access our money Bitcoin is completely opposite.
Bitcoin and other cryptocurrencies exist only with the actual consent of the user. If at any stage a user decides that they do not consent to the Bitcoin protocol they in effect, simply stop using it. There is a choice to move away from Bitcoin and perhaps to choose another cryptocurrency.
This is in many ways makes cryptocurrencies so valuable because they are nothing without the user’s consent.