Cryptocurrencies have taken the world by storm and have made a bold statement towards the financial future. They have shocked and surprised us with the flexibility and versatility of blockchain technology, which is creating history, daily, making us witness to this new financial era. Politicians, businessmen and even everyday Joes believe that cryptocurrency will soon allow us to purchase anything that Fiat currency would…but there are a few lingering questions that still remain to fully understand its adoption into mainstream culture.
Since its emergence in 2009, Bitcoin has gained and continues to gain daily, incredible popularity throughout the world. However, only recently has it started being used for the exchange of goods. Real-time 2017 estimates place active Bitcoin users between 2.9 – 7.8 million people. Coinbase, and ARK Investa Research show that there are over 10 million Bitcoin users. In comparison, PayPal has over 170 million active user accounts. Alipay in China has over 520 million active users. Even local and regional payment systems such as Webmoney have over 30 million active users. Logic questions why no one is using Bitcoin as a Global Payment system.
Understanding why we should use it perhaps will answer why it’s not currently being used by the masses. Trying to explain the benefits of Bitcoin and cryptocurrency in general, is an uphill battle for anyone. Concepts surrounding decentralization and digital currency are foreign and hard to grasp. Risks are numerous, and far more serious when using Bitcoin as a payment system.
Read more of this article here...!
Cryptocurrency is indeed a very revolutionary new way of a financial future with its own ecosystem which many believe can help get back the power and independence to the people, away from the freak controlling power of the government and other traditional institutions that had have been instrumental for many burdensome problems in the past and into the present. However, cryptocurrency is not a perfect organism -- and nothing else for that matter as long as anything is man-made -- as its flaws when applied in the field are now starting to show up. Nevertheless, cryptocurrency will have a good place in the future as it is now evolving and getting more attuned to the needs of the market.