Turning Bitcoin into Steem – the Evolution of BitShares Part 2

This is the second article about the evolution of digital currencies focusing on BitShares and the technological innovations produced by Daniel Larimer and his team. This post will touch on the problems BitShares was created to address and the target audience it was intended to reach.
Why BitShares?

Look at what's happening in Greece with their economic problems or the outright theft of funds (actually referred to as a bail in) directly out of bank accounts in Cyprus. Corrupt bankers are not a new problem; we've seen them many times before in history. Most people probably shake their head in disgust when they think about banks, yet they continue to put their trust in them. Perhaps fewer people do so in Greece or Cyprus.
Why does it take days for a check to clear? Why does it cost so much to transfer funds to another location? Why aren't you paid reasonable rates for the use of your money? How does the banking system help you for the fees you pay?

Why are we facing these problems? It's because there is no incentive to prevent them. It benefits those in power that make the policies to perpetuate the system. The chief problem is the system itself, which provides the policymakers the means to maintain a monopoly of control over the economy and in turn control over people.
Some believe control over the economy is necessary to focus society to prevent chaos or massive wasting of resources. If monopolistic control of the economy is intended to avoid massive waste, it's not doing a very good job of it. Rather, we see orchestrated booms and busts, forcing people to ride the economic roller coaster to the advantage of only a few privileged at the top of the control oligarchy. Clearly we need a new system that does not suffer from control by a small minority of so-called leaders.
Centralization vs. Decentralization

Isn't Centralization More Efficient?

Despite the benefits, centralization comes with a price, and many are beginning to realize that price may be too high. Clearly a hybrid approach is required to gain the advantages of both centralized and decentralized approaches. People are returning to produce their own food because food produced by factory farms isn't as healthy, and is often actually detrimental to good health.
First and foremost BitShares addresses the problem of centralization of control. Blockchain technology, upon which BitShares is built, is inherently decentralizing. BitShares eliminates the middlemen between you and the people or companies you wish to do business with. BitShares provides the ability to transfer value to anyone in the world at minuscule fees. BitShares helps to prevent corruption by providing accountability through a public ledger. BitShares provides a true free market economy without corruption or manipulation, giving those that use it the freedom of choice of products, services and those that offer them. How is BitShares governed, and how does it adapt to changing conditions? These are all very important questions and are handled quite differently than they are with other crypto-currencies such as Bitcoin. The short answer is the users of BitShares, the shareholders, provide this governance. It is a worldwide membership organization, or co-op, where each member has a say in these matters proportional to the number of BTS (the original token of value traded in the BitShares ecosystem) they own. If you want a stronger voice by more BitShares, it's your choice. You may even choose not to hold any BitShares, reducing your influence to zero.BitShares Target Audience

Technogeeks: The primary audience of this work are people who are technologically proficient and have some knowledge of digital currencies such as Bitcoin. However, technological proficiency does not require being a computer science expert or a math whiz. If you are comfortable using a modern computer, whether that be a Microsoft Windows, Apple Macintosh or even a Linux system, and are interested in learning about the exciting world of the BitShares ecosystem, you are poised to take an exciting ride in the pages ahead.
Conclusion
BitShares is a highly efficient, self sustaining, decentralized ecosystem built for safety from counterparty risk and to maximize choice through consensus established with Delegated Proof of Steak shareholder voting. BitShares empowers the individual by promoting voluntary, nonviolent interactions and economic trade between people anywhere in the world. Come, take part in this exciting and truly revolutionary new system that is poised to transform the world of finance and the lives of millions like you.
See the other articles in the series:
Part 1
Upvoted and shared on Twitter✔. Thanks for the follow up article. Stephen
https://twitter.com/StephenPKendal/status/795766005834350592
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Excellent article, again! Thank you so much for your dedication hard work to quality and a web sustainable environment! All for one and one for all!!! Namaste :)
well, well... better to make Steem into Bitcoin, the article is propaganda in favor of the leadership Steemit.

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Thank you. I followed, upvoted, Tweeted.
Excellent article giving inner sight:
BitShares empowers the individual by promoting voluntary, nonviolent interactions and economic trade between people anywhere in the world.
Now a days you are not posting articles!
It will be interesting to see all long institutions will tolerate such a competition and when they will decide to tax it.
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Great article, thanks for sharing the information!
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