Introduction
Throughout my blog posts, I plan to talk about the future of money. Specifically, I will be talking about cryptocurrency. The future of a currency that isn’t used by central banks and is universal to everyone around the world is something that should sound ideal to everyone.
Brief History
This is interesting to me because money is something that has had a lot of power throughout history. However, it didn’t just start out as the bills we know today. Thousands of years ago, for example, salt was a big part of currency/trade around the world because it was used to preserve foods. Now we look at salt as something so easily accessible. This is how our modern currency will become. As time passes, the value of modern currency will drop in favor of cryptocurrencies. I think the world as we know it benefits from this because buying things online from other countries becomes problematic due to different currencies. On top of this, traveling and having to exchange money for a foreign countries currency made you lose money. From what I know, cryptocurrency is a type of digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank. Through the use of software, people can “mine” cryptocurrency; almost like an internet gold mine.
Government and Cryptocurrency
One thing that I want to learn more about is how exactly one can mine cryptocurrency, how the access to cryptocurrency is going to change the way we look at money, and seeing the pros and cons to the usage of crypotcurrency. This interests me because I know that the government in the United States is against the usage of cryptocurrencies because it doesn’t function with the central banks. I want to know why exactly this is a problem since I think that cryptocurrency is the future. I think educating myself more on this topic and learning more about the stock market and economics will help me to understand the benefits of cryptocurrency and how it works. Being able to adapt to is the biggest skill needed for such a drastic change in the way we look at money.
