????2013年以來(lái),，業(yè)界一直在鼓噪要努力使復(fù)雜的金融功能成為比特幣的一部分,，但2014年才是真正開(kāi)花結(jié)果的年份。對(duì)這些功能最積極的開(kāi)發(fā)活動(dòng)都是在“大師幣基金會(huì)”（Mastercoin Foundation）主導(dǎo)下進(jìn)行的,。這是一個(gè)開(kāi)發(fā)者們按照與大多數(shù)“加密數(shù)字貨幣項(xiàng)目”同樣松散的合作方式組成的非營(yíng)利組織,。它是基于威利特的白皮書(shū)和編程建立起來(lái)的，旨在往比特幣數(shù)據(jù)區(qū)塊鏈里增加眾多金融功能,，包括允許用戶創(chuàng)建全新的資產(chǎn)類(lèi)別,，比如股票或其他所有權(quán)證書(shū),，同時(shí)創(chuàng)建一系列自動(dòng)“智能合同”。

????一些單打獨(dú)斗的創(chuàng)業(yè)者也在努力建設(shè)這個(gè)基礎(chǔ)設(shè)施,。其中一位就是雷吉?米德?tīng)栴D,，他目前正在打造一個(gè)叫BTC Swap的客戶端。他聲音沙啞,，短小精悍,，看起來(lái)很像個(gè)生意人，跟傳統(tǒng)上那種年紀(jì)輕輕,、邋里邋遢的比特幣開(kāi)發(fā)者形象迥異,。但他狡黠地稱(chēng)自己“不算是個(gè)無(wú)政府主義者”，而且BTC Swap恰恰就是直接對(duì)目前的金融業(yè)發(fā)出的警告,。BTC Swap目前還處于早期開(kāi)發(fā)階段,，旨在促進(jìn)米德?tīng)栴D所說(shuō)的“零信任數(shù)字合同”的發(fā)展。它主要是用軟件代碼來(lái)重新實(shí)現(xiàn)各種金融功能,，直接撮合交易的供需雙方,，而不再需要中介機(jī)構(gòu)的幫助。由于這些合同自動(dòng)簽署,、即刻完成,，同時(shí)它們主要適用于那些已經(jīng)在比特幣數(shù)據(jù)區(qū)塊鏈上有所體現(xiàn)的資產(chǎn)，因此米德?tīng)栴D稱(chēng)它們能消除交易雙方的風(fēng)險(xiǎn),，也能大幅降低傳統(tǒng)的銀行和中介機(jī)構(gòu)收費(fèi),。

????米德?tīng)栴D希望，他這套系統(tǒng)眼下立刻就能發(fā)揮的功能是用比特幣來(lái)對(duì)現(xiàn)有的各國(guó)貨幣進(jìn)行套期保值交易,。鑒于比特幣的價(jià)值目前仍然波動(dòng)劇烈,，米德?tīng)栴D宣稱(chēng)分散的套期交易如果可行，將能確保那些持有比特幣的個(gè)人手中資產(chǎn)的價(jià)值,，同時(shí)讓系統(tǒng)保持穩(wěn)定（考慮到很多人一直對(duì)比特幣持懷疑態(tài)度,，應(yīng)該會(huì)出現(xiàn)大量買(mǎi)家賣(mài)空比特幣對(duì)沖美元）。而且,，整個(gè)系統(tǒng)都要依靠去中心化才能確保安全性和可靠性,。米德?tīng)栴D說(shuō)：“我的這些合同都是點(diǎn)對(duì)點(diǎn)的，如果有人黑了我的服務(wù)器,，他們什么都得不到,。”聽(tīng)聽(tīng),，有人在這里叫陣呢,。

????由于點(diǎn)對(duì)點(diǎn)貨幣交易的成本極低，這種對(duì)沖功能確實(shí)有很獨(dú)特的發(fā)展前景,。比特幣使少至一分錢(qián)的幾分之幾這種微交易也能進(jìn)行,，但米德?tīng)栴D說(shuō)：“就現(xiàn)在來(lái)說(shuō),，如果進(jìn)行這種微支付，比特幣價(jià)值的巨大波動(dòng)肯定會(huì)讓你損失慘重,?！倍?yàn)槊椎聽(tīng)栴D的互惠信貸端成本很低，“我能讓?zhuān)ㄊ芸钊耍┱瓶仫L(fēng)險(xiǎn)并將波動(dòng)性降到極低的水平,?！?/p>

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????Efforts to make complex financial functions a part of Bitcoin have been bubbling through 2013, but 2014 will see them come to fruition. The most prominent active development of these functions is taking place under the auspices of the Mastercoin Foundation, a nonprofit organization of developers along the same loose, collaborative lines that define most "cryptocoin projects." Mastercoin, based on Willett's white paper and programming, is projected to add many functions to the Bitcoin blockchain. These include allowing users to create new asset classes, such as stocks or other ownership certificates, and create a variety of automated "smart contracts."

????Independent entrepreneurs are also working to build this infrastructure. One of these is Reggie Middleton, currently building a client called BTC Swap. Middleton, gravelly voiced, dapper, and businesslike, doesn't fit the stereotype of woolly young bitcoin developers. But he slyly describes himself as "not quite an anarchist," and BTC Swap is a shot directly across the bow of the financial industry. Still in early development, BTC Swap is planned to facilitate a variety of what Middleton calls "Zero-Trust Digital Contracts," which recreate financial functions in software code by matching offered and desired transactions between parties without the need for intermediary institutions. Because these contracts are automated, instantaneous, and executed with assets already represented in the Bitcoin blockchain, Middleton says they eliminate counterparty risk while also subtracting conventional banking and brokerage fees.

????The most immediate function Middleton envisions for his system is for hedging bitcoin against existing national currencies. With bitcoin's valuation still showing huge volatility, Middleton claims the availability of distributed hedging will both ensure the value of bitcoin for individuals holding the asset and provide systemic stability. (Given persistent skepticism, there should be plenty of takers to short bitcoin against the dollar.) And the entire system relies on decentralization for its security and integrity: "My contracts are peer-to-peer," says Middleton. "If you hack my servers, there's nothing to get." Somebody call Target (TGT).

????Such hedging functions have particularly unique promise because of the extremely low transaction costs of peer-to-peer currency. Bitcoin makes microtransactions ranging down to fractions of a cent viable, but Middleton says that "right now, if you do micropayments, the volatility of bitcoin can really take you out." Because of the low cost of Middleton's swaps, "I can let [payees] manage risk and decrease volatility at the micro-level."