sisterbliss

What impact do you believe Bitcoin will have on economic growth?

I'm of the opinion that moving and settling money at a much quicker rate could be quite profound.

Thank you for doing this AMA, Joi!

I was thrilled to hear that MIT is stepping up to support Bitcoin, a fantastic project with the potential to bring much good to the world. So thank you for trying to help make that happen.

Having worked on related Bitcoin projects, I am all too aware that we need more developers working on the code to enable Bitcoin to reach its potential. With this in mind what plans do MIT have to bring many more developers with great ideas into the Bitcoin fold?

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Mr Lawsky, I am truly heartened that you recognise the importance this technology has for the rest of the world, and not just us westerners.

Bringing remittance fees down (these are beyond extortionate at current rates) will do a lot to help lift individuals in poorer countries out of poverty. It will ultimately save lives. We currently give out substantial financial aid to many of these countries hoping it will trickle from the top down to the bottom rungs of society. Sometimes, as I'm sure you are aware, this aid ends up in the hands of unscrupulous actors. Bitcoin can help development from the bottom up.

I also feel that Bitcoin is a huge opportunity for the deployment of financial aid in times of crisis. We can now significantly improve our response to disasters by deploying donations as quickly as they are given.

This new financial technology you are evaluating may actually mean the difference between life and death for many.

That sounds great, pleased to hear it!

I also believe similar Bitcoin research and hacking needs to take place in other institutions, nationally and internationally. Is this something MIT could take the lead on? I'm thinking an academic journal, networking, conferences...there are a lot of unexplored avenues that Bitcoin needs pushing down.