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Cryptocurrency - the Future of Money?

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  • Cryptocurrency - the Future of Money?

    We are on the way to a cashless future. Governments and central banks have no choice but to prepare for it. However, will going cashless give boost to the use of digital currency? Will cryptocurrency replace our fiat curreny in future?

  • #2
    Tokens from blockchain are definitely considered as a valued currency by organisation as and can replace our fiat currency because we are moving towards cashless future. Bitcoin shall remain the currecncy that will be used for long term investments (e.g. stocks) or would be traded to paypal on a regular basis using Ethereum.

    Banks may soon issue cryptocurrency that is based off on their own private blockchain and hold cryptocurrency values like how banks from different countries hold each others.

    There are endless possibilities however, i think that the next generation must and will employ blockchains. The age for trading value through fiat currencies is over.

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    • #3
      There are many issues of privacy stop it from becoming the future of money by giving hackers the opportunity to perpetrate a lot of mischief (ransomware to the Silk Road). Again the value of cryptocurrency also fluctuates too much to provide a stable, functional currency.

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      • #4
        Bitcoin was created to avoid centralized banking and government money. It uses blockchain, which is very secure. As per David Yermack, the chairman of the finance department at New York University, Blockchain reduces the cost of verifying transactions and thus banks are looking into using it. So, cryptocurrencies could be used as national currencies in future.

        Bitcoin have already become popular in countries like Zimbabwe and Venezuela, where it is being used as a major means of exchange.


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        • #5
          Originally posted by Rose Bluebell View Post
          Bitcoin was created to avoid centralized banking and government money. It uses blockchain, which is very secure. As per David Yermack, the chairman of the finance department at New York University, Blockchain reduces the cost of verifying transactions and thus banks are looking into using it. So, cryptocurrencies could be used as national currencies in future.

          Bitcoin have already become popular in countries like Zimbabwe and Venezuela, where it is being used as a major means of exchange.

          Bitcoin is only used for trading now a days and the real intent behind it's creation has not been achieved. The value is increasing due to trading and not due to people keeping hold of the currency.

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