Japanese saw their local Bitcoin exchange Mt. Gox failing this year; they have not yet forgotten the moment it lost their investments. However, Takafumi Horie, the Japanese entrepreneur believes that the digital currency is still a route to more security and less government. Coming from a successful entrepreneur and investor, the statement is being analyzed by experts.
Takafumi Horie is a renowned Japanese entrepreneur who founded Livedoor, a website design operation that grew into a popular internet portal; however, he was arrested and charged with securities fraud in 2006. This, however, does not mean he is any lesser of a strategist and meaner investor; the opinion regarding Bitcoin is definitely the one that is important.
According to Horie Bitcoin, innovations are important and crucial for lesser and smaller governments. His opinion came to public view when he published the book “No Need for Nations Anymore” wherein he discussed this topic with journalist Soichiro Tahara. He elaborated the need for smaller government and what role the digital currency can play in it.
He says that he heard that Bitcoin have rivaled the main currencies in parts of the world that have faced currency crises, like Cyprus and Argentina, and according to him the Bitcoin phenomenon is not just a digital currency trend. He adds that its innovative technology, a combination of the block chain and public and private keys, requires no central authority.
Bitcoin May Reduce the Functions of the State
Horie admits that people are sending currency information called Bitcoin; however, it doesn’t have to be currency information, and according to him it could be real estate contract data, IOUs or equity returns. Thus, according to Horie the data could even include election ballots whose records are kept in a block chain open to public scrutiny.
His book is not limited to Bitcoin and disruptive technologies; however, a lot of focus has been on the digital currency as according to Horie it can play a pivotal role in forming a smaller government and help in privatizing most of the functions of the state including the issuing of the fiat which has been manipulated to a great extent.
Nevertheless, Horie who spent 21 months behind bars until last March after being convicted of falsifying Livedoor’s financial results for the business year to September 2004 admits that his experience creating a social networking service app for smartphones called 755 and the Antenna news magazine curation app, etc. are part of disruptive technology.
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