SteemCryptochallenge #4 ( Future of crypto )
Greeting Steemit
It's been long time since i post in project hope or in @steemitblog challenge. So today i get opportunity to post about the future of Crypto
Before writing about future i will discuss about crypto first. What is crypto?
Today crypto have become global phenomenon known by most people but understood by few. Oh i mean few but there still tons of people who are well familiar with crypto. whatever Stoshi invented Btc in 2009 as first electronic cash system. To understand the digital cash system you need a payment system with account balance and transactions that's easy to understand one major problem every payment network has to solve is to prevent double spending that is to prevent entity from spending the same ammount twice. Usually this is done by central server who keeps all the records of balances in a decentralized network you don't have this server, so you need every single entity of the network to do this job. In simple words digital currency are the digital point each digital currency have it's own value , like steem is currently at $ 0.1555 and Bitcoin is at $12,271.37. There are thousands of these type of currencies, which value is regularly fluctuating
Future:
We use money everyday, but we rarely appreciate it's power and it's flaws. Simply it is a tool that has been at the center of human progress, and as we build bigger and tackle complex problem. We are going to need the best tool available. we have global economy. We need a global currency and crypto is the best for this purpose. Crypto is gonna be great democratizing force for the world because it's gonna level the playing feild. and allow anybody with a phone to accesses to digital finance. Although this happening in most of the country are experiencing this service but lot's of country are not direct accesses. The crypto will badly effect on the system of centralization bank system. Because there is no bank of the crypto and it is decentralized, with crypto, i can send digital cash to anyone else and i don't need to go anywhere, No bank. This digital cash system will change the people lives, it will makes us richer because it need less time and less effort and less money to get some thing done. Few percent of the world population are using crypto to buy goods, but in future this percentage will increase. From childhood i was studying about, new invention change the world into a small village and it's not wrong that crypto will be the next currency of this village
Note
These are my opinion so don't get any wrong idea. See ya till next post
The benefits of crypto is just numerous. It will entirely replace the banking system, not just the way people make payments and receive payments but also the way people invest their money. With crypto, you have liquidity pools which is not available with fiat. You also have positive interest rates which is rare with banking. The experience people have got with banks makes adoption of crypto more easier, it's just remaining the support of government. Since it's new, there is no history of success and failures to learn from, governments are very careful with adopting crypto especially since it can be used to commit and sponsor crimes. But once countries begin to adopt it and are successful in regulating it, then many other countries will follow.
#onepercent #nigeria
With the departure of Defi, the future of cryptos looks extremely bright I am convinced that they are the op to get out of this crisis in this pandemic after it ends so well They are the future and I am very optimistic about it
A smartphone or a desktop becomes a quasi-bank for the legitimate owner of the asset, with absolute control, which means it virtually offers banking access to millions and billions just with an internet connection with the internet of thing. In its first place, it solves the problem of many Govts which are trying hard to make sure the underprivileged get banking access.
Thankk you.
#twopercent #india #affable