Speaking to Payment Expert days after hosting the first major UK Bitcoin conference, Jordan Walker, CEO and Co-Founder of Bitcoin Collective, discussed all things Bitcoin and how it can become a viable alternative to fiat currency.
Taking place in Edinburgh on 21-22 October, Walker expressed that the event ‘went better than he could have ever imagined’, and announced plans to bring the conference to London next year.
Walker also states it took the organisation five months to prepare the event, which was mentioned by Dr. Lisa Cameron in Parliament when discussing potential cryptocurrency regulation guidelines, something Walker appreciated.
In regards to the current price decline Bitcoin and other cryptocurrencies have faced this year, Walker attributed the decline as a combination of the same struggles the economy and stock markets are also enduring.
However, whilst the prices of Bitcoin and crypto are down from the last year’s highs, Walker invites potential investors to learn about Bitcoin from a fundamental level, allowing for the cryptocurrency to morph into a “hedge against fiat”.
Walker said: “The more people who learn about it at a fundamental level of what actually is Bitcoin, it will become more of a hedge against fiat.”
Bitcoin has a fixed total amount that can be distributed (21m) and therefore cannot be tampered with, but may also lead to inclusive issues if prices soar again. Walker believes education is the key, and stresses how important it is to view how Bitcoin transactions work, treating it like any other form of currency.
Walker also delves into how by witnessing a Bitcoin payment process can also help change people’s perceptions of the cryptocurrency, viewing it as more of a payment currency rather than an investment tool.
To round out the discussion, Walker opened up to sceptics of Bitcoin and crypto and guided them towards some “very simple reading” that may help them change their perceptions.
He concluded: “I would get them to read some very simple reading and ease them in a little. You can’t push people into learning about Bitcoin.
“This thing is actually happening, and how easy it is, that does change people’s perceptions of it.”