Entrepreneurs Plan To Create One Market For All Crypto Currencies: Hacker’s Review
The Germany hacker outlined his idea on Twitter for a “perfect cryptocurrency” which would not need to be regulated by banks or governments.
“The best case scenario for the world would be one perfect cryptocurrency for all. High speed transactions, low fees, smart contracts, truly decentralised with democratised forks and built-in protections to prevent banks, corporations and governments from taking control”, he said.
His most recent online server allows uploaders to be paid for their content in bitcoin via the payment service BitCache.
Kim Dotcom, whose real name is Kim Schmitz, has long been a fan of bitcoin and the payment service BitCache. He has suggested to use this payment service, which can bring bitcoin to the mass market, replacing credit card payments on the internet.
Mr Schmitz also plans to build an “alternative internet”, which can help creating a mainstream cryptocurrency.
Speaking about his plans for a new internet on Twitter he said:
“I have been working on this for a long time. Mobile networks and devices will be ready for this in 4-5 years. When it goes live our dream of true Internet Freedom shall become reality.”
A major surge in Bitcoin’s value has seen the cryptocurrency’s worth rapidly increase to an all-time high.
The bitcoin market is rapidly increasing and it has taken less than a month for its value to increase from £150billion ($200billion), which it was worth on November 3, to £225billion ($300billion) yesterday.
However, some people have argued that rather than bitcoin being free from “banks, corporations & governments” as Dotcom suggests, there is a need for more regulation.