Bitcoin Must Integrate As A New Innovative Social System – Bitcoin Magazine

This is an opinion editorial by Frank Nuessle, a publishing entrepreneur, former university professor and social system architect.

In this essay, I argue that Bitcoin and the Lightning Network are, by themselves, not enough to successfully implement an American sound money system, and that following evolutionary economics, new social technologies and new social system designs need to be part of the equation.

The primary purpose of money is to facilitate the exchange of value. Money is also our most critical, most important, baseline social system. Bitcoin is not yet money. Bitcoin fulfills one of the three functions of money in that it is a trustworthy technology for the electronic store of value. Once Bitcoin is integrated with newly-developed social system technologies, it no doubt will fulfill that primary purpose of money — to facilitate the exchange of value.