The role of the CRIPTO currency in the global economy
Cryptocurrency, a digital or virtual currency that uses cryptography for safe financial transactions, the storm has taken away the world since its inception. From 2009 to 2017, the price of Bitcoin, one of the first and most famous Crypto currency, increased from $ 10 to $ 20,000 per money in just under two years. The subsequent collision was significant, but the fundamental basis of the Crypto currency remained unchanged. Today, the curine of the currency is more than a transient phenomenon; It became an integral part of the global economy.
** What is the Crypto Currency?
Crypto currency is a decentralized currency that works independently of central banks and financial institutions. He uses cryptography or mathematical algorithms to ensure transactions and control the creation of new units. Unlike traditional Fiat currency, such as US dollars and euros, the cryptocurrency transactions are recorded in a public book called Blockchain.
Rise Crypto Currency
In 2009, the first crypto curine, Bitcoin, launched an anonymous individual or group using a pseudonym Satoshi Nakamoto. The initial goal of the creation of decentralized current currencies has since developed numerous other cryptocurrencies, including Ethereum, Litecoin and Bitcoin Cash.
Several factors:
- Decentralization : Crypto currency enables decentralization of financial systems, providing individuals more control over their money.
- Security : Using advanced cryptography provides safe transactions.
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- Innovation : New technologies and applications develop to integrate the Crypto currency into various industry.
The role of the CRIPTO currency in the global economy
Crypto currency had a significant impact on the global economy, especially since its appearance:
- Payment : Crypto currency enabled a quick, safe and cheap payment over boundaries.
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Impact of Crypto Currency on Traditional Financial Institutions
Traditional institutions:
- Banking Systems :
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Challenges and concerns
Although the CRIPTO currency has huge potential, there are also significant challenges and concerns:
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