Currency 2.0 on the Horizon?

Since 2000, the development of technology and the internet has increased by leaps and bounds. The vision of the Web 2.0 movement helped to drive the internet and social media, reshaping how humans around the world interact with technology. There’s no reason to believe this development will not continue to evolve into the future, but are there areas of commercial life that are lagging behind?

There’s so much the average person can do with a smart phone, tablet, or computer that he or she simply couldn’t do five or ten years ago. However, people still rely on traditional notions of currency, which have been around for decades. Money hasn’t really changed despite the vast developments apparent in much of social life and in technology.

Currency may be changing soon, though. You’ve probably heard of Bitcoin by now. The digital currency has become relatively newsworthy in the past year or two, even though the currency was created five years ago in 2009.

Slowly but surely, the concept of a digital currency is growing in the US. However, many of the big web 2.0 and retail commerce giants have kept their distance. But, this may no longer be the case thanks to a recent conversation with eBay CEO John Donahoe.

Rob Wile at SFGate reports that the “biggest ‘web 2.0’ guys” have avoided accepting Bitcoin. However, John Donahoe was quoted as stating that “there’s no doubt digital currency is going to play an important role going forward.” For an ecommerce company the size of eBay to acknowledge the concept of digital currency as an important issue is incredibly vital for the future use of the technology.

Could we be on the cusp of a new revolution in our perception of what money is and of how we interact with currency? This very well could be the beginnings of such a change. Keeping aware of Bitcoin and developments in digital currency will make for interesting reading!

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