A Digital Currency For A Digital World
The world is moving towards a new revolution over the Internet i.e Internet of Things. And money has not been spared.
Digital Currencies such Steem, Bitcoin and others have the potential to be the most disruptive development since the Internet.
Digital currencies could entirely change the way the money/banking industry works. However, this innovative force to achieve a ''revolution status'' in the money industry, these Virtual currencies have to sufficiently meet the three main functions of money;
a) Means of exchange
b) Store of value
c) Unit of account
This going to be just as cell phones made telephone poles unnecessary in developing countries, and Likewise, the E-mail took away almost 70% of the Post Office services. Therefore, its highly likely that digital currencies may remove the need for most banks in the near future!