What is Crypto all about?
Cryptocurrency is a digitally-encrypted currency that is designed to work as a medium of exchange using cryptography. The underlying technology is called Blockchain, a decentralized trust system. Cryptocurrency thus uses technology to transfer value outside the institutional financial system and is distributed across a network of millions of computers. The exciting part about this revolutionary technologies is that it will likely impact how we do things in the future, that’s why there’s so much potential.
Is Blockchain one of the greatest technological advancements in history or is it just a hype?
Any fundamental innovations encounter challenges, and on the other side bring great economic and social benefits. But if we have learned anything since the arrival of the Internet, it’s that technology has the potential to transform everything. The Internet was designed to move information and not value. Now, for the first time ever, we have a native digital medium for value through which we can store and transfer any asset, from money to contracts, cars and houses, peer-to-peer and in a secure and private way. We have seen a way of doing business that is faster, cheaper and more transparent, that cuts out the middleman and brings in millions of unbanked people. Everyone has an equal measure of control over his or her finances and new businesses have evolved that have not existed before.
While volatility has eased since the end of last year, the growth of Cryptocurrencies has increased the investment readiness, with the realization that even just a modest exposure to cryptocurrencies could turn out to be lucrative. The cryptocurrency market has grown from a market capitalization of $0.00 in 2010 to over $430 billion in 2017. Due to this explosion of value in crypto assets today, central banks, exchanges, brokerages, derivatives, and credit cards, entrepreneurs are developing for the cryptocurrency market. The blockchain has a huge potential to bring fundamental change to the world of finance and trading markets and to many other sectors. However, in terms of all assets in the world, from gold, silver, stocks, bonds, mortgages, etc. - we have barely scratched the surface of what we can create with crypto.