The World of Digital Assets
We are living in exciting times to be able to recognize the adoption and implementation of digital assets in society. If successfully executed, these digital assets will revolutionize our transfer of money globally. Not only will society be positioned on a universal platform known as the blockchain, but the internet of value will allow the transfer of money and liquidity smoothly and efficiently. It will no longer take 3-4 business days to send large amounts of money internationally; it will be like picking up a cup of coffee. So what is cryptocurrency?
Cryptocurrencies are digital assets designed to solve problems that work on the blockchain. The blockchain is a system in which a record of transactions made in bitcoin or another cryptocurrency are maintained across several computers that are linked in a peer-to-peer network. Cryptos are not meant to replace fiat or cash. Each token or coin is created by a company that intends to solve a problem in technology, supply chains, finance, E-commerce, etc. The exception is Bitcoin which is not created by a company but by a hidden entity named Satoshi Nakamoto. Why the entity is hidden is beyond me. Frankly, I think the entity should be revealed. Why all the secrecy?
Cryptocurrency – The Future of Humanity?
Whether it’s Bitcoin, Ethereum or XRP, not many coins will survive in the long-run. Out of the 5,709 coins in existence, most likely 10-15 will remain prevalent in the mainstream world. It’s way too early to spot the future top contenders but the race is certainly on. Regardless of competition, we should all work together to help adopt this emerging technology that can help millions of people around the world. Third-world nations, in particular, need and deserve the most help from this promising technology.
Bitcoin is slowly adopting the role of “digital gold” while XRP wants to implement a new system that will make cross-border payments flawless. What about Dogecoin? The “joke cryptocurrency” that has been gaining momentum since Elon Musk has been talking about it is no longer a joke. Now there is also Shiba Inu! The easiest way to start learning about cryptocurrency is by watching educational and informative YouTube videos and doing your own research on the internet. I am not an expert at cryptocurrency so I don’t even want to attempt to get into the details. I just provided you with a very basic understanding. Your role is to now fall down the rabbit hole and become educated.
Warning! Once you get into crypto, be aware that you might become hooked (in a good way I hope).
Are you Ready? (This is Defeating Stigma Mindfully)