Why Cryptocurrency and Blockchain Technology are Essential in the Modern World
Cryptocurrency is one of the most recent technologies, with a short history that began in 2012, making it only 11 years old. This is the blockchain technology that is used for transferring various crypto currency. The thing that makes cryptocurrency famous is its technology, which is blockchain technology.
REFLECTIONS ON CRYPTOCURRENCY (FROM ONE PIZZA TO A GLOBAL PHENOMENON)
When this technology first formed, I was a student in the bachelor's programme, and, to be completely honest, we knew very little about it. But I do recall when we first learned about Bitcoin—the newest blockchain currency that 1 BTC was equal to one pizza.
When I heard this news, it made me laugh, and I thought to myself about how cheap this technology is, whose value is equal to one pizza. But I was unaware of its working technology, which is quite useful for financial transfers and, most importantly, it is decentralised and not controlled by any entity.
After 11 years, I realised the strength of this technology and its operating mechanism, which has expanded and become popular as if by magic. Many country governments are concerned about this technology since it has advanced to the point where it has the potential to replace banking.
Cryptocurrency has been one of the successful fund technologies in our modern time, also known as the world of technology, providing fast and scalable transactions with cheap costs and quick response. You may send any crypto coin to any country to any account in the world in less than 5 minutes.
Why is cryptocurrency necessary for humans in our advanced technological world? This is an issue that many people are still perplexed by, especially those who are unfamiliar with blockchain technology. These are my thoughts and opinions, which I am sharing with you; you may disagree with some of them.
One of the things that we need this technology for is quick finance transactions. According to the advanced world, we no longer require banking that keeps us waiting in line to perform transactions. Instead, it will allow you to conduct a quick and secure transaction while you are at home.
.png)
EARNING MONEY ONLINE AND SECURE TRANSACTIONS
Another reason we require this cryptocurrency is that everyone desires to earn fast money over the internet. Cryptocurrency is one of those initiatives that allows you to generate money online in a number of simple actions. Millions of individuals are finding work through bitcoin in a variety of ways.
As an example, the hive ecosystem is a blockchain platform that allows users to earn money online by writing. You will be compensated for your content, and the payment will be made in the form of native coin, which will subsequently be converted to USDT and other international currencies.
You can buy and trade cryptocurrencies online without utilising physical coins. The biggest advantage of cryptocurrencies is that you do not need any physical money to buy and sell goods and other products. Especially for business owners who want to buy and sell online in a few simple steps and in a secure manner.
These are the main aspects of modern blockchain technology, and they are the reasons why cryptocurrency is required in this day and age. Without a question, it has made human life easier, but governments are still refusing to acknowledge this truth, and another unpleasant fact is that barely 5 to 10% of the world's population is using blockchain.
This is an attempt on my side to inform you about the importance of cryptocurrencies in modern times and why it is so important. I hope you like and find the post informative. If you like the post, please leave feedback in the comments section so that the next one will be even better. Thank you for taking the time to read this.
TWITTER TELEGRAM HIVE WHATSAPP DISCORD
IMAGES AND GIF TAKEN FROM CANVA, EDITED IN CANVA
REMEMBER: We should prepare for the unexpected and hope for the best. Life may not be easy, but you must do your best and leave the rest to God.
Posted Using LeoFinance Beta
I believe that the government is afraid that every one will use the technology because they will not be able to collect as much tax as they want
I agree with your statement that the government is afraid that people will stop paying taxes, and that the banking system will suffer as a result, which they do not want to happen.
I agree with you. Crypto is of the digital age. So it is the best way to conduct all kinds of digital transactions, fast, securely and across the globe. The old financial system cannot deliver the needs of the modern world.
That is without a doubt one of the best facilities available to people for quick transactions, and it is the success of modern technology. Without a doubt, cryptocurrency will grow rapidly and shine throughout the world.
Government never wanted their country to stand people on their own because if It'll happen then how can they manipulate people by making fake promises. People should be aware about cryptocurrency because it's the need of the hour.