Cryptocurrencies have always been an unknown entity for the traders and investors. But the very mystery that the cryptocurrencies have brought with itself has made the traders and the investors interested.
Cryptocurrency has a dark history that led the people to believe that Cryptocurrency is a currency that is used for illicit purposes. However, there are traders who have seen the hidden potential of the Cryptocurrency and have started using it in the trade market and for financial transactions.
Cryptocurrencies are the digital decentralized currencies. Cryptocurrency can be used in the same way we use fiat currency. The only difference is that the fiat currency has a physical form while on the other hand, Cryptocurrency’s value depends on how much you trust it.
Traders and investors all over the world have been into a debate about whether the cryptocurrency will be an influential currency on the world economy or not. This debate leads us to do some research of our own.
With the research, we have come to the following conclusion.
- Regulation of the Cryptocurrency
The most important part of the cryptocurrency is how easily it can be regulated. The value of any currency is close to zero if the regulation of the currency is to a shorter range. Today, currency plays an important role in the economy. Without the right currency, you can’t barter the things you would like to have. In the same way, if you do not have a currency that is known among the fellow traders, you will not be able to trade with them.
When the first Cryptocurrency was introduced in the market in 2009. People thought of them as some facade tale. But today, the same Cryptocurrency is one of the most invested digital assets. This shows that the regulation of cryptocurrency has grown during this past decade.
- Cryptocurrency adaptation
Then the next most important feature that the currency needs to have is the adaptation rate. If there is a currency that can’t be adapted smoothly, then people will restrict themselves from using that currency.
However, the Cryptocurrency has improved to the point that every day more and more traders and investors are joining with the Crypto trade market. This shows that the cryptocurrency has already made the market for itself in the past decade and people have adapted themselves to use the Cryptocurrencies in several fields.
- New concepts of Cryptocurrencies
With the Bitcoin, the term cryptocurrency came into existence. Before that people were never aware of the fact that there could be a digital currency that might not have any physical presence but hold the same value as the fiat currency hold.
After the introduction of the Cryptocurrency, people started venturing the possibilities that Cryptocurrencies have brought. This made many companies realize the potential of the Cryptocurrency.
Today, we have more than 1600 cryptocurrencies all over the world. There are nations and companies that have introduced their own cryptocurrency to compete in the Crypto trade market.
For instance, a nation like Venezuela has launched its own Cryptocurrency called “Petro” and Kodak company has launched “Kodac Coin”.
- Introduction of Independent companies
Cryptocurrency is embedded with blockchain technology. Blockchain technology uses a public ledger network to share information. Every information shared in the blockchain network is shared among the fellow members of that network.
This same principle can be used for the enterprise company infrastructure. With the help of the public ledger network, communication among the employees and manager can easily be regulated. This way the whole Company’s infrastructure will be independent and will not require any CEOs to run the business.
Final Thoughts
Cryptocurrency has yet to reach its full potential. The current environment of the cryptocurrency is not at all reliable. With its high volatility, it become of the riskiest trade asset to interest. However, there are platforms like the bitcoin code that help the new traders with with safer deals. We can just wait and see what the future has in store of the Cryptocurrencies.
