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Cryptocurrency in the next decade

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Written by   32
1 year ago

Overview


The cryptocurrency is a form of digital currency that is created and stored electronically. Cryptocurrencies use cryptography to secure their transactions, to control the creation of new units and to verify the transfer of assets.

The word “cryptocurrency” was first used in 1996 by Wei Dai on the cypherpunks mailing list, suggesting the concept of a new form of money that uses cryptography to control its creation and transactions, rather than a central authority. In 2009, the first decentralized cryptocurrency, bitcoin, was launched. Since then, numerous other cryptocurrencies have been created. These are frequently called altcoins, as a blend of alternative coin.

Cryptocurrencies typically feature decentralized control (as opposed to a centralized electronic money system, such as PayPal) and a public ledger (such as bitcoin’s block chain) which records transactions.

What to expect in the next decade


In the next decade, cryptocurrency will most likely be used for travelers and business men. We’ll experience the era where we don’t carry cash, card or even use a wallet. The transactions will be made through cryptocurrency like bane, dash, bitcoin and all others that are yet to discover.

The idea of having a digital currency might sound like a strange concept to many. However, if we put the history of money behind us then it becomes easier to think of the future of money. In fact, if you try to go back in time then you’d realize that people used to transact with just coins. It was later on when the notes were introduced to make things easier. Fast forward to the 19th century and every bank had their own currency which was an attempt at regional economic independence.

Nowadays, as there aren’t any limitations of carrying cash we prefer using cards over coins and notes.

Some challenges of cryptocurrency

Cryptocurrency has been around for close to a decade. Unlike paper currencies, cryptocurrency is decentralized, unregulated and not under the control of any single authority or government. This means that anyone in the world can send or receive any amount of money with anyone else, anywhere else in the world, at any time.

Wonder why we’re not seeing much of Cryptocurrency Adoption? Let’s walk through some the challenges:

1. Making Cryptocurrency Accessible

2. Understanding How Crypto Works

3. Trusting Cryptocurrency

4. Governments: Regulations and Taxes

5. Big Tech: Mainstream Adoption

6. The Future of Cryptocurrency

Accessibility

Bitcoin and other cryptocurrencies have been in the news a lot lately. And while there are a lot of people with questions about what this means, I mostly have one question: why isn’t it easier to just exchange money for bitcoin?

The best way to get your hands on cryptocurrency is to buy it. But there aren’t very many places you can do that easily.
The reason why I bring this up is because I experienced this lack of access during my trip to Dubai.

I wanted to use cryptocurrency to pay for my trip but I was denied because I didn’t have a government-issued identification document.

Once I realized that, I decided to contact some people about it and they seem just like me asking the same question "How to buy bitcoins? "

So that's why we created a new company called Bane and we created a solution that allows travelers to buy cryptocurrencies at their local airport.

Understanding how crypto works

I have been traveling for more than 30 years. During these years I’ve seen how money works, in what terms and conditions money is exchanged. I’ve been trying to explain it to my friends, but many times I failed, because they lack the knowledge of how currency exchange works and what are the main principles of the transfer of the value from one state to the other.

Government regulations

Cryptocurrency has yet to be widely adopted by the public, but that doesn’t mean it’s not on the rise. The total market cap is still hovering around $100 billion, a number that will likely increase with time as more people learn about and invest in cryptocurrency.

This, however, means that there are also some potential issues facing cryptocurrency and its potential users, such as bad actors and government regulations.

There are a lot of government regulation going on in the world regarding cryptocurrency. Some countries have accepted cryptocurrency as a payment for goods and services, others banned it and others are still in debate about cryptocurrency. While some big countries in the world have not accepted cryptocurrency, there are small ones that have accepted cryptocurrency as a payment for goods and services.

Conclusion

I’m going to conclude by asking a question.

What do you think the future of cryptocurrency would be in the next decade


lead image: unsplash.com


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Written by   32
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Comments

I think its nice because for the next generation or up until now cryptocurrency is very convenient for brings not but bch, use it to pay our bills and even traveling in other countries

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1 year ago

At the early stage and till now in some countries, People see crypto currency as evil that it's from the pit of hell. But the baffling thing Is that , it has gained ground and worn many hearts already. Very soon, even the countries that are avoiding it now will soon pick it up and legalize it. It's just a matter of time

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1 year ago

Hmmm Mummy GO words of hell. Haha it has really alleviated poverty in the lives of many

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1 year ago