Cryptocurrency is a form of digital money which’s purpose is to be secure and in some cases, anonymous. It is a digital currency that it was created through the use of advanced encryption techniques. Today it has become a global phenomenon and most people, banks, governments and companies are aware of its growth. With the creation of Bitcoin, Cryptocurrency made it from a virtual concept to a reality. We live in a world of innovation, in where commercialization of the Internet is constantly developing.
Virtual currencies are a new type of digital assets, and as the world becomes more technological with every surpassing year, Cryptocurrency can be the money of the future.
Easier and Safer
Cryptocurrency is said to be easier and safer than obtaining paper bills. Everything will be managed virtually using blockchain technology, and this might make everything more stable and crystal clear to track. Right now, not everyone might see it as a reliable source given that technology is still too risky to be hacked, however in the future these systems will allow transactions in a safer more without central clearing houses. Without also mentioning that they wont be secured by people or by a trust, but purely by math.
Financial Tech may reshape the world
Sooner or later the world will prefer virtual currencies given that technology is already everywhere around us. Digital money could really change the world and the system in which we all live in.
Better value for money
Now a day, some countries have unstable national currencies; Cryptocurrency will help them not by adopting the currency of another country, but by using virtual currencies that will develop in economic growth.
Transactions of money would be fully transparent by being governed by a credible algorithm, which can be monitored, something that cash won’t allow you to do. It will be clear enough that it becomes a stable store of value; in addition of becoming something which corruptive sources can no longer use it to finance their operations.
Creates social and economical possibilities that were thought to be unimaginable
Digital currency creates a different economic world from the one we know right now. Cryptocurrency is the way to the future as was the Internet itself. The Internet has brought endless opportunities to remote corners of the earth and has grown the connection between societies in the world. Virtual currency will allow every person the chance to participate in the global economy if they chose to do so.
Separation of money and state
A big issue we have in the present is that the government has control over nations money, and they are the ones who make the laws and are in charged of society’s wealth. The big deal with Cryptocurrency focuses in its decentralization, meaning that there is no central organization that keeps track of the transaction. This means that the government won’t be able to interfere in the economy, they won’t be able to inflate or ‘manage’ the money supply.