What all the hype about cryptocurrency and Blockchain?ausfinex
As we get close to the end of 2019, like all always Bitcoin and Blockchain made headlines almost every day. Is it all hype? Is Bitcoin Exchange Australia legal? Is cryptocurrency really worth a buy? Will Blockchain technology really change the world someday?
Even as we enter 2019 these are concerns bothering every crypto enthusiast and fan. Its all hype now but digital currencies will surely change the way how the world works today. Many people are still unaware of how Bitcoin and Blockchain can change the world, but it’s important to realize the value of these innovations.
Anything can be decentralized without losing control
With digital currencies, you can be assured that the same rule holds for everybody all the time. Rules are all inscribed into the system. People using the same digital currency will always get the same result as expected. In case you don’t like rules, switch to another cryptocurrency. Traditional currencies are in use everywhere but one has to involve the third party for sending or receiving funds. Financial institutes assure you that the cash is authentic, real and worth before you can use it. For doing this, financial institutes charges fees, lies to you, defrauds you, colludes against you and most importantly takes all your personal details.
Mostly in well-regulated economies around the world, clean government and financial institute policies ensure the above cases don’t happen but there is always occasional failure and risk. Not often you have to face such issues. On the other hand in poorly-regulated economies, corrupt government and terrible financial policies lead to distrust, misery, and corruption.
Cryptocurrencies are a boon in disguise for poorly-regulated economies. With digital currencies one has to follow the same rules and no loopholes, most importantly there are no risks like the ones mentioned above. Common people don’t have to rely on local regulations, government decrees or strangers. The blockchain is a new concept which is transparent and completely different from traditional systems. Using this new technology people can transact with millions across the globe without having met ever, without having any blood relationship and living in various countries with different laws.
So what? Does it bother you by any means? As long your transactions are taking place fast and are cheap, none will complain.
Blockchain, the technology behind the most popular cryptocurrency Bitcoin is finding wide applications. Businesses from healthcare, law enforcement, international shipping, and various other fields spend a huge sum of money for tracking useful things and documents. With Blockchain, you can allow anyone to use important files without the risk of getting it lost or forged. Even if you lose contact there is no fear. Once you reconnect everything will be in order because of this authentic and legitimate record. Isn’t this a big thing?
But that was the application of Blockchain, but one shouldn’t forget that cryptocurrency is the biggest and most precious implementation of this latest technology. Do you have any idea how cryptocurrencies will revolutionize markets? Every year hundreds of billions of dollars energy is wasted, cryptocurrency will revolutionize the energy market. Some nations create more than requirement whereas other places face shortages. Cryptocurrency makes the whole system easier.
Cryptocurrencies give today’s generation do something they love doing: exchanging. Humans have been exchanging things with each other for centuries and now also cryptos will do the same. Trading makes people happier and meets the requirement. Exchanging gives you the chance to get things as per need and lead a better life. What’s more, regular exchanges will help you make friends and build a strong social network. In the long run, cryptocurrencies will help in building enhanced institutions and a better world.
The hype and buzz you see around the world about cryptocurrency are for awareness. Today’s generation needs to know and realize the potential of digital currencies. So, what you have to say about the hype now?