I am very new to the crypto world; my husband used to explain to me the inner workings of the system. However, I am not very adept at technology. So I decided to learn and write about the crypto world according to my husbands' perspective with his permission as I believe he is very knowledgeable about the crypto world.
My husband believes that cryptocurrencies are the fourth greatest revolution in the world. The ancient humans started money management as a barter system then the use coins, silver, gold, among other things came into existence for business transactions. Later, the second revolution according to him is the industrial revolution that changed the business world. The presence of a factory and wages system for work necessitated the need for money transfer. The money transfers were made as coins, and later it evolved to paper currencies which each country adopted its own. The third revolution is the internet revolution. It changed the way that the information is shared and used.
The fourth revolution is cryptocurrencies and the decentralized network of transferring information using DLT ( Distributed Ledger Technology and smart contracts). Modern technologies need time to get to the common man as whenever the new technologies come to the world it has a lot of difficulties to get adopted by the people. Even the most intelligent people wondered how a digital form of an asset can be used for a transaction, also how it can be used in our day to day transaction without a third party. For example, the banking system, In the new crypto world, people are able to keep their assets or wealth, transfer money quickly within a fraction of time to the other side of the world, save wealth, earning degrees, maintaining health information in the decentralized realm and access it from anywhere in the world. These are some of the benefits of crypto currency, and other benefits are yet to be known to the world.
It is difficult to convince the authorities about the endless possibilities of the crypto world. When the internet came to existence, regulators were all against that, and even they made it aware that it may affect the world negatively. However, a typical person cannot imagine a world without the internet now. Even my 12-year-old daughter gets anxious if our internet gets a little slow or her phone is taken away from her. Likewise, I think the crypto world is evolving; it will be one of the best technologies in years to come. Only time will tell if Cryptocurrencies will rule the world.
My husband's view of the crypto world will be continued.
Dr.Job
Good Information
thanks