Bitcoin set to take over the financial world: Book (STA BREAKING NEWS and ARCHIVES)

by Theresa , Tuesday, December 02, 2014, 11:42

Bitcoin, the digital currency which remains a mystery to many, will some day replace the whole global financial system, doing the job of banks, insurance companies, credit card issuers and even trusts, a new book asserts.

This extraordinary scenario is the central theme in "The Bitcoin Big Bang" by Brian Kelly, investor and contributor to CNBC's "Fast Money." Kelly says the transformation is as near as a decade away.

"If the Industrial Revolution was the catalyst for modern economies to move from an agrarian to a manufacturing society, then the Bitcoin is the vehicle that will transport the financial system from centralized to decentralized," writes the author, who runs Brian Kelly Capital from Greenwich, Connecticut. "Over the next decade, creative destruction will be the mantra within financial services, and it will all be due to an anonymous genius who gave his/her/their invention away for free."

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