What Are The Benefits of Cryptocurrency
Chances are if you are reading this, you’re interested in learning more about Cryptocurrency. We can’t tell you enough about how many times we’ve heard, “What is Cryptocurrency?” “What exactly is Bitcoin?” Most people are familiar with the terms, but they don’t know enough about it to explain it to others, so our goal is to simplify it, talk about the fears, and most importantly the benefits. According to Investopedia, “A cryptocurrency is a digital or virtual currency that uses cryptography for security. A cryptocurrency is difficult to counterfeit because of this security feature. A defining feature of a cryptocurrency, and arguably its most endearing allure is its organic nature; it is not issued by any central authority, rendering it theoretically immune to government interference or manipulation.” With Bitcoin being the first to capture the market in the cryptocurrency world.
What Are The Biggest Fears?
Typically, when it comes to discussing the fears centered around cryptocurrency the following are the biggest:
- People Don’t Understand It
- It Isn’t Legal Tender
- Cryptocurrency May Have Lost Its Value
Even though those are the biggest concerns, there have definitely been changes in technology in the past decade or two, with the emergence of cryptocurrency being one of the biggest. People should not fear it, rather, research and study it to learn more about it and embrace its continued use. Also, learn about the benefits of cryptocurrency because they far outweigh the negatives especially those cryptocurrencies that are using the blockchain technology to keep this form of currency and technology safe. The following are some of the most prominent benefits:
- Privacy — If you are choosing to use cryptocurrency or bitcoin as a means of exchange chances are you would prefer to use cash as well. Why? Simply put, every time you swipe your credit card, your personal information gets entered into all sorts of databases which takes all privacy out of the equation.
- Safer — When choosing to use cryptocurrency and you receive your coins they are a lot harder to steal than cash.
- Identity Theft — When giving your credit card to a merchant, you are giving them full access to your credit line whereas with cryptocurrency the information necessary isn’t as great.
According to The Huffington Post, “there are also benefits with fraud, lower fees, decentralization, access to everyone, and so much more.” As cryptocurrency becomes more and more widely embraced, businesses should be keeping a close eye on how this technology evolves and consider how it could be used to their advantage.
ABOUT TOKES
The TOKES Platform is a digital currency project built on the Waves blockchain in tandem with private blockchains for supply chain provenance, developed initially for the cannabis industry, but with functionality viable for other industry verticals. Tokes (ticker: $TKS) serves as a means for businesses to conduct transactions (both consumer and business to business, B2B). Given the increasing legalization of both recreational and medical marijuana at state levels, coupled with the economic restrictions upon dispensaries imposed by existing federal laws, Tokes, serves as a means of financial mobility and freedom for marijuana businesses forced to transact in fiat. Tokes is actively developing products integrating the token into critical systems for cannabis production, sale, and support. This includes, but is not limited to; payment processing gateways, enterprise resource planning systems for supply chain management, industry communication and personnel vetting, marketing, automated consumer feedback and incentives, mobile gaming, etc.
