Why blockchain can help the world to be a better place
There are several reasons why cryptocurrency investments are poised to grow in the coming years
Cryptocurrencies have existed since 2009, when the internet was still a sparsely populated place and social networks were crawling along in their infancy. It would take a decade for major digital currencies, such as bitcoin, to become well known and to evolve into the frenzy changing the financial sector.
To put it in simple terms, blockchain is a type of public and open ledger that records the movement of crypto assets (digital currencies). These movements are recorded in different dependent blocks and interconnected, constructing a totally reliable and secure information network.
There are several reasons why cryptocurrency investments are poised to grow in the coming years, and stand to become as much of our financial reality as savings accounts.
One of the reasons is that cryptocurrencies are directly linked to decentralized efforts that possess the ability to drive social impact.
Blockchain operates at the core of cryptocurrencies, ensuring that any financial transaction carried out is secure, transparent, auditable, and yet, completely independent of a central body or institution, such as a physical bank or a consolidated database.
This independence guarantees that transactions using “the protocol of trust,” as it’s known, are fully accessible to anyone on the planet but can’t be changed or defrauded.
The use of blockchain has permitted bitcoin and so many other cryptocurrencies to become possible. And it’s also the foundation on which campaigns that decentralize efforts in order to reach places that had previously been rarely explored: digital identities to protect refugees, “peer-to-peer” microcredit between an average citizen and a small Ethiopian farmer, banking access for the underprivileged, and even supporting the uniqueness of digital works of art (NFTs).
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