Investment

What Lies In The Future Of Cryptocurrency?

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Money is what makes the world turn. We as a society have evolved from several different systems of operations, and we continue to evolve. The human species used to rely upon the barter system which allows them to exchange items that are considered to be of similar value. Now, in modern times, we rely upon the economic exchange of the commodity of money

However, with the emergence of cryptocurrency in 2009, another shift in the way we conduct our society may occur. If you’ve been following the latest news, cryptocurrency remains one of the most common topics discussed. Since society changes at such a quick pace, following new cryptocurrency trends would ensure you are well aware of those changes. 

Before we begin delving into the future of cryptocurrency, let’s start with comparing both mediums. 

Money Vs Cryptocurrency

As previously mentioned, the human species relied on the barter system as a medium of exchange. An animal farmer would barter his pigs, cow milk and goat milk for commodities he does not possess such as vegetables or fruits. However, there is a downside of this system. The value of the commodities were hard to define accurately and fairly. Therefore, money was introduced as a common denominator. 

Money was introduced with the intention that each item would be valued accurately depending on the time the item took to be made, the production quality as well as the transport fees. However, with the introduction of cryptocurrency, all of this may change. There are certain countries that have accepted the usage of cryptocurrency to purchase and sell items.

For instance, El Salvador accepted cryptocurrency, specifically Bitcoin as a legal tender in early 2021. Furthermore, Malta is in the progress of following El Salvador’s footsteps. They are working on achieving the same goal. A home decor company in India has also included cryptocurrency as a form of payment option too. These examples prove that this form of currency is slowly on its way to becoming a mainstream form of payment option available to everyone. 

As for the future of cryptocurrency, it would be hard to say. With the rise and fall of many concepts and ideas over the years, one can’t be entirely sure. But, we are moving to a modern age where almost no one uses banknotes and cash to pay for items any longer. 

Most payment transactions are through e-wallets or applications such as PayPal. It should be noted that PayPal has begun integrating cryptocurrency into their platforms. To illustrate, they accept cryptocurrency as a form of payment, and allow their users to utilize their app while making transactions. 

To continue the previous statement, since most transactions are made digitally, it would not be such a surprise to see that cryptocurrency becomes mainstream soon enough. There might come a day where you can purchase a donut using cryptos. So, do not  hesitate in joining the cryptocurrency game, because although it might be risky, you never know what the future holds.