By Andrea Ceseña de la Toba
Before we get into this currency’s world, I would like to talk about cryptocurrency and I don’t think we can understand something without knowing the background. We need to understand a concept that has probabilities to change complete the worldwide financial system .The cryptocurrency is a virtual currency that helps us to exchange goods and services through transactions without the need of an intermediary (tell me what’s better than this). This can bring some advantages such as decentralized.- this means that no one is controlling your account, any bank or any financial institutions. Anonymous.- it allows you to keep your privacy at the time you’re making transactions. International. Safer.- your currency is all yours, it can’t be intervene by nobody. It works without intermediary. It is faster and the best one, you use it if you want it, there isn’t anything impose by anyone like happens with traditional currency. Sounds good, right?
So, how this became a reality? Well, if we want to understand why this is creating such as revolution we must talk about the history.
The history of currencies started years ago, when the value was depending of the metal used in each currency, like gold, silver, etc. A lot of things happened to then arrived at the moment where the president of united stated (Richard Nixon) decided that the dollar couldn’t be changeable for gold anymore. And it was right here when everything changed and left the gold boss and we start using currency as we know it.
So how this cryptocurrency happened? It happened with the idea of a new decentralized cryptocurrency, but it didn’t sound this good at first, it was till the first decentralized cryptocurrency appeared: bitcoin, in 2009. With this new virtual currency a huge rise came, lots of alternatives currencies were born , such as Litecoin, Ripple, Dogecoin just to mention a few. Even with this rise not all the currencies had the same destiny as bitcoin. Some of them couldn’t make it into this currency’s world. After this, around 2011, the interesting in people increased in a notable way and almost 7 years after, the cryptocurrency had won the attention of a lot of people.
The word is changing faster that we thought but when we take advantages of that, things like cryptocurrency happens. Things new aren’t that bad anymore, right? Do your own research, think about It and change. It’s all your decision.
BankCoin 