In the digital asset world, speculation is often linked to scams, gambling, and promises of overnight wealth. However, according to blockchain developer Jad Wahab, there’s a lot of value in speculation that the Bitcoin blockchain can transform.
Wahab was in London for The Bitcoin Masterclasses, where Dr. Craig Wright talked about integrating the supply chain messaging standard EDI into Bitcoin. Speaking to CoinGeek Backstage host Becky Liggero, Wahab talked about speculation in invoicing, Dr. Wright’s unmatched insight into Bitcoin, and more.
“A lot of people look at Bitcoin and crypto and see speculation as a very bad thing. But in day-to-day lives, speculation happens everywhere in the world, and a lot of time, it’s valuable,” Wahab said.
While speculation in ‘crypto’ has come to signify gambling, it’s a critical cog that drives global trade. Businesses purchase a good from areas of high supply and speculate that it will fetch more in areas of high demand.
“If you take to Bitcoin and where a lot of these technologies are moving towards, we can magnify a lot of that and then solve many issues through speculation. People see it in this early stage as gambling, but there’s a lot of value under the hood that people don’t see,” Wahab pointed out.
Dr. Wright has continued to engage the audience in his The Bitcoin Masterclasses, and with each new topic he introduces, he tasks the attendees with finding applicable use cases.
“He does really well with setups like these, and that allows him to go on long-form discussions about a lot of stuff for which he is often misunderstood. It gives him the opportunity to go into detail and affords us a chance to ask questions,” Wahab said.
Watch: The Bitcoin Masterclasses is extremely futuristic
New to Bitcoin? Check out CoinGeek’s Bitcoin for Beginners section, the ultimate resource guide to learn more about Bitcoin—as originally envisioned by Satoshi Nakamoto—and blockchain.