1. Open-source software: A core and trusted group of developers is essential to verify the
code and possible changes for adoption by the network.
2. Decentralized: Even if it is not fully distributed, it is essential that it is not controlled by
a single group of person or entity.
3. Peer-to-peer: While the idea is not to have intermediaries, there is a possibility of pools
of subnetworks forming.
4. Global: The currency is global and this is a very positive point and workable for
financial integration with or without smart contracts among the parties.
5. Fast: The speed of transaction can be faster and confirmation time can be shortened.
6. Reliability: The advantage is that there is no settlement risk and it is nonrepudiable.
The savings in cost of a large settlement team for financial activities can be potentially huge.
7. Secure: Privacy architecture can be better designed incorporating proof of identity with encryption. If that is done, the issues surrounding Know Your Customer/Client (KYC) and anti-money laundering and terrorist financing (AML/TF) will be resolved.
8. Sophisticated and flexible: The system will be able to cater to and support all types of assets, financial instruments, and markets.
9. Automated: Algorithm execution for payments and contracts can be easily incorporated.
10. Scalable: The system can be used by millions of users.
11. Platform for integration: It can be designed to integrate digital finance and digital law with an ecosystem to support smart contracts with financial transactions. Customized agreements can be between multiple parties, containing user-defined scripted clauses, hooks, and variables
Other interesting insights
https://read.cash/@Mikitrabuu/how-bitcoin-works-dda6f65e
https://read.cash/@Mikitrabuu/merits-and-demerits-of-bitcoin-73599264