CRYPTO WORLD: Bitcoin drops below $27,000 level as crypto sell-off continues

Day to day transactions? Auto-fulfilled contracts and invoicing? Public, immutable records? Global financial transparency? The proof of concepts are already there. Legitimizing it in realtime use takes time, especially with the endless pushback from governments and naysayers.

Go to your online bank records and look up transactions you made 6 years ago. Can you? If you got audited today, how would you go about accessing your bank statements, and how can you know for sure it's all true?

Imagine a future where you can deal with all of your finances through crypto & smart contracts so that at the end of the year, another smart contract can file your taxes for you with all the verifiable proofs and checks of an entire industry (accounting). This is a very real possibility TODAY, but brick and mortar establishments and many institutionalized governments are way too slow to adopt any type of changes - or better yet, they're so deeply entrenched in the kickbacks of the establishment, they are actively pushing against the change.

How often do you use cash in your day to day? How often do you use credit/debit cards? Apple Pay? There is an undeniable transition away from fiat to fiat transactions which opens the door for fluid crypto-to-crypto transactions. We're not there yet because society hasn't accept that much. But it's there.

/r/news Thread Parent Link - cnbc.com