When the world adopts digital currencies in near future, sea changes are sure to occur in the following ways:
Speed: Digital currencies enable transfer of funds within seconds. Presently when we depend on banks for transferring physical money, we face delay. All the transfers are regulated by inter-banking protocols and involve time factor. There are other reasons like intervening holidays, differences in time zones, encoding and decoding SWIFT messages etc. which add to further delays. But in the case of digital currencies, you can transfer funds even during your midnight on a holiday. The instant transfer will happen.
Low cost: Digital currencies operate on blockchain technology. This enables storing the transaction in digital ledgers. Hence the cost of operation is very low. Another reason is the cost of minting digital currencies is very low when compared with physical money. Hence digital currencies will change the cost of transactions from high to very low.
No borders: When we remit funds across borders in a different currency, we have to either convert our home currency to USD or the receiver’s home currency. This involves conversion costs. But when using digital currencies, you need not convert them again. You can use them as they are. You can buy them anywhere instantly. For example, if you are in Australia, you can buy them from online from Australian bitcoin exchange CoinSpot.
Safety: Blockchain technology is the safest form of online transactions. The digital ledgers used by them cannot be tampered with. Also, the transactions stored in the centralized server are transparent and can be viewed by all the stakeholders. Hence chances of frauds are reduced. That way digital currencies would bring a sea change in the banking industry.
Smart contracts: In future digital currencies will be combined with smart contracts. These smart contracts will facilitate the auto release of payment upon fulfilling the obligations. Hence both the parties to the contract will stand safely. This will have a great impact on e-commerce.
If there is one area that technology has in brilliant ways revolutionized the industry itself then it has to be that of finance!
Who knew that only a decade later, people would be able to log onto their laptops and smart devices to be able to trade and earn money from the comfort of their living room itself?
I am sure that when I started out two years ago trading in binary option, I must have freaked out with all the charts and tables and the signal generation. You see everyone does not take to technology easily. In the beginning, technology fascinates but it has the tendency to threaten also.
Online trading and trading software:
These have revolutionized the way people earn money. Albeit even if the money is small but consistent, it does provide an extra cushion for people who are trying hard to make the two ends meet.
This term which is a cross between business and finance is one revolutionary thing to have happened to generation ‘Z’. We are looking at the potential of being away from workplaces but still being extremely productive as much as if not more than what we were if we traveled all the way to our cubicles in the offices.
It saves a lot of time and therefore the scope of increase in productivity is real. The idea is that people can still go an extra mile in being able to earn a fortune even without actually displacing themselves from one chair to the sofa in their own rooms!
Does the prospect excite you?
You must read more about it on my blog and get in touch with me in case you think that you can contribute your bit to the revolution or if you would like to take advantage out of it. Here is to a lot of profit and a lot of fun earning it! Cheers!!!
Even when the internet was used for years, there were many who claimed it to be a fraud. Nonetheless, that did the deter internet from becoming the major influencer in our lives. We simply can’t live without internet now. We communicate, gather information and even shop our groceries via the internet now.
Fast forward 2 decades and this will be the future of Blockchain and Cryptocurrencies. There are many similarities between the internet and the Cryptocurrencies. Just like the internet, Cryptocurrencies are driven by the technological advancement and layers decentralize the technology. Companies and individuals are able to build their products and services using the interoperable open protocol that defines the layers. Like the internet, there were many players in the initial game blockchain also has numerous contributors. However, both internet and blockchain technology is strongest when there is only one network.
The Revolutionary App
The email was the app that made internet popular and effective. It was the perfect way to communicate. For blockchain, we believe Bitcoin is going the revolutionary app. Although the current possibilities of blockchain are limited, but it does hold a brighter future. The Bitcoin code describes a proper economic system. For instance, a transaction will become part of the Bitcoin blockchain only after it complies with the certain set of rules. Bitcoin codes set these rules. So, when a transaction does not compile with the rules it is rejected.
This means stealing your money and doing a fraud transaction will become next to impossible. With so many investors already in the game, it is highly likely that Blockchain becomes the future of financial transactions. As this is likely going to happen, we just you get in the race with the help of www.trulycoin.com and emerge as leaders instead of followers.…