Tech

Is Bitcoin Going to Replace Gold in The Future: Here Is What Experts Are Saying

Published

5 years ago

June 8, 2020

For a very long time, a particular form of conversation is gaining ground in crypto circles. This conversation revolves around the nature of Bitcoin, and whether it can replace gold. In recent times, Bitcoin’s ability as a solid hedge has attracted the attention of investors, who feel that the crypto stands to become a stable hedge in the future.

In this article, we are going to look at whether this is a mere conjecture, or is there any truth to the matter. We will also look at some properties, which has made investors proclaim Bitcoin as the new ‘digital gold’. Finally, we will look at either side of opinions and see what supporters and critics are saying.

Bitcoin and Gold: Similarities

One of the first things, which we should discuss, pertains to how Bitcoin is similar to gold in some important respects.

Both Bitcoin and Gold are available on earth in finite or limited quantities. This means that they do not have unlimited supply. If you do not have limitless supply, the value of an asset is fixed as a store of value.

Both Bitcoin and Gold can be easily transferred across countries and continents. In other words, they both enjoy universal acceptability. You can exchange your gold for currency in Russia, in the same way you can in Puerto Rico. The same holds true for Bitcoins as well.

Can Bitcoin emerge as a credible ‘Store of Value’ in different countries?

One of the major arguments, which is being forwarded pertains to the development of Bitcoins in the developing world. If you are familiar with the economic situation and financial happenings in the underdeveloped world, you will realise how their currencies suffer from extreme volatility.

This means that a pound of bread could be worth 10 or 1000 within one week. As a store of value, Bitcoin could help remove this volatility and stabilise the economy in a major way. Experts point out currency losing value is not only a concern for the masses.

It is also very bad news for governments and central banks who have to exchange their currencies to buy global supplies like oil, food and medicines. Another major reason contributing to the push for Bitcoin over Gold are the Millennials and Gen Z.

The above generations are products of a digital economy. They shop, eat, travel online and expect their currency to be virtual also. This makes them the generation who is going to call all the shots in the near future. In other words, for the younger generation, it is all about crypto. Visit bitcoin up if you are interested in bitcoin trading.

Bitcoin cannot replace Gold: What are the sceptics saying?

There is no doubt that Bitcoin still has a long way when it comes to replacing gold. However, critics who believe that Bitcoin can never achieve that distinction based on concrete points.

They point out that the underdeveloped world does not have access to electricity and the internet at all times. In such a situation, it is practically impossible to have a currency system, which has at its foundation, electricity and the internet.

Another reason that they put forth is the fact that gold has different uses apart from just being a store of value. For example, gold is extensively used in jewellery making. It also finds rampant use in industries like electronics, and medical services like dentistry.

However, to counter the same, Bitcoin advocates use the Blockchain technology argument, they state that modern communications, payments and supply chains can be built using Blockchain tech.

Conclusion

Whether, Bitcoin will ever be able to replace gold is something, which only time will be able to tell us. However, going by the initial responses, Bitcoin continues to show us a promising future. We will all have to wait and see whether we are able to see this reality within our lifetimes or not.

Tech

Clarity in Complexity: Dr. Dave Chatterjee’s Gift for Cyber Communication

Published

2 weeks ago

December 9, 2024

Michelle Langton

Photo courtesy of Dr. Dave Chatterjee

By Mj Toledo

A sea of confusing technical terms and threats surround people today. Many feel lost, unsure of how to protect themselves online. A distinguished cybersecurity and technology expert, Dr. Dave Chatterjee is teaching people how. He has practiced information technology management since 2001. In this field, which often bewilders outsiders, he combines academic knowledge with practical insights.

About Dr. Dave Chatterjee

The tech figure authored “Cybersecurity Readiness: A Holistic and High-Performance Approach,” which Sage published and readers praise for its thorough and accessible take on cybersecurity preparation.

Additionally, respected publications like USA Today, The Wall Street Journal, and the Massachusetts Institute of Technology (MIT) Sloan Management Review have recognized his work.

“Communicating complex cybersecurity concepts clearly and effectively is essential,” Dr. Dave Chatterjee explains. “I aim to connect technical know-how with practical understanding, making sure important cybersecurity messages reach and impact all stakeholders, from executives to information technology (IT) staff.”

Dr. Dave Chatterjee has received numerous accolades throughout his career. These include the Outstanding Executive Master of Business Administration Professor of the Year award. He has also been named a University of Georgia (UGA) Outstanding Teaching Faculty Honoree.

Before the pandemic, Dr. Dave Chatterjee launched his Technology Roundtable. It features distinguished business leaders, award-winning chief information officers, and other renowned thought leaders. The roundtable covered topics such as blockchain, artificial intelligence, data quality, and cybersecurity.

Aside from his professional pursuits, he is also passionate about youth development. He also engages in science, technology, engineering and mathematics (STEM) initiatives, offering professional development workshops to K-12 students on topics ranging from making the most of collegiate experiences to safe and responsible use of technology. He also provides summer research opportunities for outstanding high school students, mentoring the next generation of cybersecurity professionals.

Decoding Cybersecurity for All

Dr. Dave Chatterjee believes effective cybersecurity involves people as much as technology. He stresses creating an organization’s security-aware culture, starting with clear, straightforward communication.

“Cybersecurity affects every part of an organization,” Dr. Dave Chatterjee states. “We create a shared sense of responsibility and preparedness by explaining complex ideas in relatable ways.”

This philosophy is evident in his roles, including his position as an adjunct associate professor at Duke University and his past work as a professor at The University of Georgia’s Terry College of Business. His skill in explaining technical concepts has made him a popular speaker and advisor across many industries.

The Power of Clear Communication in Cybersecurity

Clear communication in cybersecurity is non-negotiable. As cyber threats become more complex, explaining security concepts clearly and concisely helps organizations better protect themselves.

“Clear communication forms the foundation of a strong cybersecurity strategy,” Dr. Dave Chatterjee emphasizes. “It allows cybersecurity professionals to work with other departments, identify and reduce potential risks, respond well to incidents, and follow regulations and standards.”

This matters especially now, as cybersecurity has become a top priority for company boards. With experts expecting global cybercrime costs to reach $10.5 trillion by 2025, clear explanations of cyber risks and protection strategies help leaders make informed decisions.

Bridging Technology and Human Understanding

Dr. Dave Chatterjee does more than explain technical ideas. He promotes a better grasp of how people factor into cybersecurity, knowing that even the best security systems can fail due to human error or lack of awareness.

His Cybersecurity Readiness Podcast Series has over 70 episodes and listeners in 105 countries. It offers thought-provoking, jargon-free discussions on improving cybersecurity. These discussions cover strategies for individuals, organizations, and nations. This effort shows his advocacy for making cybersecurity knowledge available worldwide.

“The podcast series creates a community where experts, leaders, and practitioners discuss cybersecurity challenges and opportunities,” he notes. “These conversations help build a more informed and resilient digital ecosystem.”

Making Cybersecurity Less Intimidating

With new technologies like artificial intelligence and quantum computing bringing new challenges and possibilities to cybersecurity, concise communication becomes even more critical.

The tech professional continues to adapt his work in this area. A recent USA Today article, “Dave Chatterjee Drops the Cybersecurity Jargon, Encouraging Proactiveness Rather than Reactiveness,” highlights his ongoing effort to make cybersecurity accessible and actionable for everyone.

“The future of cybersecurity depends on our ability to communicate well across all levels of society,” he concludes. “Promoting a shared understanding of cyber risks and best practices creates a more resilient digital world for everyone.”

The battle for digital security requires more than just advanced technology. It demands clear communication. Dr. Dave Chatterjee’s talent for translating cybersecurity concepts into accessible language turns technical knowledge into practical action.

Undeniably, Dr. Dave Chatterjee’s gift for clarity will remain invaluable, helping create a more secure digital future for everyone.