Introduction into the Bitcoin Exhibition at the MoneyMuseum Zurich
"Bitcoin - the new digital currency?"
Some basic points I like you to take away from this exhibition:
1) Bitcoin isn’t just about money; it’s about the network.
2) Bitcoin is revolutionary, maybe the dawn of a new age of monetary policy. Its network could anchor a new global currency system.
3) As consumer, the Bitcoin network holds the promise of many new and valuable services and offers the data security that such exchanges demand.
For many visitors, the MoneyMuseum’s Bitcoin exhibition is a first look at the future of money.
The goal of the MoneyMuseum's Bitcoin exhibition
My name is Jürg Conzett. I am the founder of the MoneyMuseum. Together with my associate Stephan Koncz I developed the Bitcoin exhibition at the MoneyMuseum. We were basically new to the subject and we both learned a great deal. And I can tell you the more you study Bitcoin the larger the subject becomes. Over the next three minutes I will try to explain what we want to achieve with this exhibition.
Why Bitcoin? The word bit refers to the smallest unit of computer memory, and the word coin is, of course, a form of money. But something vital is missing by simply combining these two words - and that is network. The future of Bitcoin lies in the network of its users and in the services this network can deliver, not simply in the virtual currency itself. The idea of Bitcoin as money stands in the forefront today but that’s because the full range of other services the network can provide is not yet developed enough.
In fact, Bitcoin’s origins had little to do with finance. It had to do with the libertarian movement in America, which had already seen several alternative currencies including the Liberty Dollar. America also had experience with peer-to-peer file-sharing platforms like the Napster music-sharing site. Both these movements were private initiatives. Their suppression pointed out the need for decentralized networks to avoid obstruction by business and political interests. This led more or less directly to Bitcoin adopting a decentralized, virtually anonymous network which today, just a few years after it was founded, has over two million users.
The exhibition looks at three facets of the Bitcoin story: the financial background, the technology and its growing appeal for consumers. We trace the intellectual origins of the new currency and the historical conditions when it was launched in the post-financial crisis. That’s the financial aspect. Then we look at the technology: How is this new currency produced? How can it be safely stored and transferred? The final aspect, consumption, shows where and what one can buy with Bitcoins.
What can be learned from the exhibition?
The exhibition provides visitors with a few key concepts of virtual money. We are convinced that alternative currencies are an important element of the future of money and, whatever form they take, we will see them grow in use. We believe Bitcoin could be a viable alternative to gold as an anchor for a new global currency system. In time, the global Bitcoin network could transfer not only sums of money but also manage documents, digital keys, contract fulfillment data and more. We are only at the beginning of the digitization of worth, of money. We look to the future with real excitement.
Some basic points I like you to take away from this exhibition:
1) Bitcoin isn’t just about money; it’s about the network.
2) Bitcoin is revolutionary, maybe the dawn of a new age of monetary policy. Its network could anchor a new global currency system.
3) As consumer, the Bitcoin network holds the promise of many new and valuable services and offers the data security that such exchanges demand.
For many visitors, the MoneyMuseum’s Bitcoin exhibition is a first look at the future of money.