The ledger is indifferent to whether a bitcoin represents a certain amount of euros, dollars, or any other form of value or property. Users have the flexibility to determine what a unit of bitcoin signifies for themselves.

A bitcoin is divisible into 100 million units, each of which is both individually identifiable and programmable. This capability allows users to assign various properties to each unit. For example, a unit can be programmed to represent a euro cent, a share in a company, a kilowatt-hour of energy, or a digital certificate of ownership.

Thus, Bitcoin transcends the traditional concept of money and payments. A Bitcoin can embody multiple types of assets, such as a thousand barrels of oil, award credits, or even a vote in an election. Furthermore, Bitcoin enables the creation of smarter currency systems and the automation of cash and money flows.

Consider a healthcare allowance in dollars or euros that can only be used to pay for healthcare services from certified providers. By programming such rules into the money itself, compliance is ensured upfront, eliminating the need for bureaucratic verification processes later on.

Additionally, units can be programmed to return automatically to the sender if not used by the receiver within a specified period. This feature ensures that allowances are not hoarded. Companies can also manage their expenditures by programming budgets for salaries, machinery, materials, and maintenance, ensuring that funds are allocated appropriately and not misused.

Automating these processes significantly reduces bureaucracy, saving accountants, controllers, and the organization substantial time.

The programmable and open nature of Bitcoin offers the potential to completely reinvent and innovate our financial sector and administrative processes, making them more efficient, transparent, and less bureaucratic.

Moreover, this is just the beginning.