Will digital currency ever rule the world?
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| Digital currency (bitcoin) |
Many countries in the globe had made swift progress with the adoption of digital currency. Digital currency electronic payments (DCEP) and Central Bank Digital Currency (CBDC) have taken their paths in those countries for making payment around the globe.
These method are adopted by many countries to make payment because of their fast, reliable, secure and most especially untraceable transaction.
Will digital currency ever rule the world?
See reasons;
China overview
China also is making progress in digital currency. Chinese court has ruled that some high profile cryptocurrencies such as bitcoin and etherium are legal and protected by laws.
Meanwhile, the digital currency is to be issued by people’s bank of China (PBC), the country’s central bank.
In 2013, China banned bitcoin and closed down its crypto-exchange in 2014 and in 2017, shutdown it initial coins offering (ICOs).
Furthermore, in the recent year, China relaunched cryptocurrency back into the country can be seen as another measure to expand ability monitor her people
Bitcoin overview
According to 2010’s report about bitcoin, bitcoin worth 6 cent per token(btc) because no one on earth know bitcoin.
In 2012, miners put more effort on bitcoin by collecting computer power and electricity to uncover token (btc) that make it worth 10$.
In 2013, bitcoin token exceed 100$ and people began to notice it. And in 2014, btc reach 950$ people start to go deep in the cryptocurrency. An exchanger in Japan Mt.Gox went belly up. Lol.
Hence, many crypto has been born creating an asset that beneath government and central banks.
If you look at bitcoin now, you will see that the price of it is going beyond expectations gone at the days in 2010.
Cryptocurrency overview
Cryptocurrency is created and manage by advanced encryption known as cryptography.
Some analysts predicted that crypto is forthcoming as an institution money enter market.
Furthermore, there is possibility that crypto will continue, which will add credibility to blockchain and increases chance to produce more coins.
Blockchain overview
Blockchain innovation also as been gaining popularity and expansion. This are the miners and nodes. They processes Cryptos ways of transaction.
More coins are produced through this process. As more coin is produced , Cryptos expansively continues.
Summary
The future outlook for cryptocurrency leads to so much debate by professionals.
professor of economics and public policy in university of harvord Kenneth rogoff suggests and implies that the overwhelming sentiment among the crypto advocates is that the total market capitalisation of cryptocurrencies could explode over the next five years to 5$-10$ trillions.
So what do say? about this? Let me know your opinion in the comments box.
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