CRYPTOCURRENCY-THE NEW DIGITAL REVOLUTION

  
For many it sounds strange, but for the few who have been exposed to it, it’s indeed a blessing. Without doubt, crypto currency is charting a new revolution and disruption when it comes to currencies, online payments and the financial world. We may not have been ignorant about technology in the financial sector when it comes to ATM services, online banking services as well as mobile banking systems. 
The reality is something better and much bigger has arrived. Cryptocurrencies!!!

Probably wondering what this cryptocurrencies crypto thing is all about. Let me just give a summary of it. 
Cryptocurrency is a digital asset on the internet that is programmed to function as currency for the payment of goods and services online but with cryptography as its algorithm to secure transactions and save them on an open ledger that is accessible to all but impossible to alter. Meaning with a complete transaction between two parties, it is difficult to tamper with a record that is stored on the online ledger. Which means all transactions that goes on is kept open for all to see prohibiting alteration. Transactions are stored one after the other after its completion in a system called blocks. The technology behind the storage of this is called the BLOCKCHAIN. This is a powerful discovery that has the power to solve variety of issues in our technological space. 

Can you ever imagine money being sent to anyone anywhere in the world like the way emails are sent? Or like hitting the like button on your Facebook app? Wouldn’t it be fantastic if you can send money anywhere in the world for free of charge? Thanks to cryptocurrencies it is now with us. The days where we send funds or remit money to any part of the world with expensive charges are soon going to be a thing of the past. Cryptocurrencies are allowing real time transactions with less fees to any part of the world seamlessly. Imagine what this will mean to most economies. Trade will be boosted, economic activities will flourish and financial transactions will be quick and precise. 

The best part of it is, cryptocurrencies as are designed to function as assets that are limited in supply unlike money printed by central banks, making cryptocurrencies not a candidate to the effects of inflation. Good cryptocurrencies appreciate over time as more people keep using it. Meaning, with powerful cryptography, it increases in value over time which can make you very rich if you got hold on it early. Will delve more into this in my upcoming articles.  

An example of a crypto currency is BITCOIN, the grandfather and most popular cryptocurrencies. Food for thought. The value of Bitcoin has appreciated about 10,000% in 8 years. The price of Bitcoin was around $0.001 in 2009, in 2017 as at the time of writing this, Bitcoin is trading for $3,322.00 much more valuable than an ounce of gold. 
Now, how much would you be worth now if you purchased $100 worth of Bitcoin in 2011 for a price of $0.02 per coin? You would be worth $16,610,000.00  

Notwithstanding this huge wealth behind it, the main brain behind the formation of crypto currency was by a man we still have no idea who he is called, SATOSHI NAGAMOTO. His main argument was this, why don’t we eliminate the middleman between our financial transactions so that we can trust each other with our transactions. Meaning, instead of relying on a third party to process our transactions for us for a huge fee, why don’t we put the third party away and deal directly with each other which is less costly and faster, at the same time not compromising on security. In that way, we can move money anytime and anywhere. 
And as weird as this idea might have sounded, it kicked started in 2009 and after many years of criticisms, it keeps going stronger and stronger. People keep accepting it as payments online, even schools. 

The use of cryptocurrencies has further alerted many investors to pay attention to the developing trend in their technologies. With countries like Dubai aiming fully to be 100% blockchain by 2020 and Russia and many central Governments switching to these technologies, you can’t sit and remain unconcerned because the revolution has just started. 

If you missed my food for thought earlier, then check it again because you can make it up and it’s never too late. The real revolution is about starting. Wake up and dust yourself out of doubt and welcome to the new digital revolution with Cryptocurrencies. 



Make it point to read on my series Buying the Future Cheap.  
  
I will love to connect with you and share with you all about cryptocurrencies, investing, trading and mining. There are unlimited opportunities with this revolution. And remember revolutions or disruptions create millionaires and you don’t want to miss it. 


Like and share with your friends. 
Join the CryptoExecutiveNetwork and let’s build wealth together.