Cryptocurrency, economic dream or technological fail?

Cryptocurrency?

Cryptocurrency; the new future of money, or just a technological flop? I’ll be talking about the latest craze, Bitcoin. What is Cryptocurrency? The new innovation is a digital currency, used very similarly to normal money. You can use it right now, by opening a digital wallet and buying some Bitcoins. You can use them to shop online, and some physical places accept cryptocurrency as well! Cryptocurrency could unify money, allowing for two countries to trade in a similar type of money.

Neat, but who made it?

Nobody exactly knows who invented it, as the creator has managed to remain hidden for the lifetime of the cryptocurrency. Supposedly, his name is Satoshi Nakamoto. Bitcoin was made as an alternative to digital cash, things like Paypal, or even credit cards. The creator of Bitcoin first set out to make a P2P cash system, or Peer-to-Peer. Basically, he wanted to make a system where two people could send digital money to one another. Eventually after that had failed, he began to work on what eventually became Bitcoin, the secure digital currency of the future.

What could it do for us?

Cryptocurrency could change money for the entire world in a crazy way. By unifying all types of money, it allows people to buy and sell without having to worry about international currencies and conversion rates, all that money stuff. In doing so, it’d be easier to purchase things that don’t come from your native area. Not to mention, it’s a lot harder to steal or counterfeit, as the money is secured by a complex algorithm.

Cryptocurrency could change the world. By globalizing currency, it could allow international goods to appear everywhere, more so than before. It could cut down on counterfeiting and theft as well, allowing a safe and secure way to spend money.