NEXT BLOCK has kicked off with a keynote speech from Sterlin Lujan, who talked about the psychology of money and how cryptocurrency will disrupt the existing system of fiat money, taking us to the next stage of evolution.
Sterlin Lujan is a communications ambassador for Bitcoin.com and a vocal advocate of cryptocurrency as a means of achieving freedom by ending the tyranny of centralized political and economic systems. Before assuming his current role at Bitcoin.com, he worked as a journalist for that site and ran a personal blog on Steemit.
Speaking of money as a psychological concept and a powerful tool, Lujan provided his own definition of money as a mental invention:
“Money is a collective agreement on value. Money is a way we communicate and represent value to each other in order to procure the purchase of goods and services. In other words, the value of money is highly subjective as it is a result of the collective agreement.”
Meanwhile, the existing system of fiat money is associated with an aggressive power that governments and central banks bring to bear upon us, according to Lujan. Cryptocurrency is going to change this distorted reality and give the power of money back to people.
“We are spurring a paradigm shift of unparalleled beauty, and it’s called the cryptocurrency revolution. Now we have a new kind of money – decentralized, peer-to-peer, borderless money that not only changes how we work with each other economically but changes who we are as people on a fundamental level,” he stated.
Lujan also emphasized the importance of making cryptocurrency accessible and useful for everyone, regardless of their geographical location, social status, or financial position.
“Cryptocurrency is the killer application for blockchain technology. It is the technology that we should be radicalizing for mass adoption,” he said.
According to Lujan, cryptocurrency will reach the stage of mass adoption in five to ten years. He believes that digital money will eventually substitute the fiat variety, which is a useless and outdated solution that fails to satisfy the needs of society and slows down its development.
When asked about Bitcoin’s price at the end of the year, he broke rank with Bitcoin enthusiasts, saying he expected it at $5,000 level due to lots of scams, regulatory crackdowns, and other issues.
The NEXT BLOCK Conference in Sofia is in full swing, with many other famous speakers getting ready to share their views on the cryptocurrency industry development.
You can watch NEXT BLOCK live via the stream below.