This year, the now globally-renowned concept of cryptocurrency officially turns ten. While cryptocurrency has been around for a little longer than a decade, it was ten years ago that it first became a mainstream sensation. At its core, cryptocurrency is a notion that has introduced a world of innovation and enhancement, but it has not come without its challenges. In this modern world, technological advancement is not a foreign concept, but the decentralisation of currency is still relatively fresh.
Today, cryptocurrency continues to evolve and expand as a modern innovation. This is a world where we are immersed in and surrounded by rapid digitalisation and technological advancement. We have created this world to be everything that it is, so it makes perfect sense that it is a world that is encouraging and investing in the digitalisation of many of its marking foundations, including (but not limited to) the decentralisation of currency.
Understanding the power of cryptocurrency
Put simply, cryptocurrency refers to the decentralisation of currency. Cryptocurrency is essentially a form of currency trade that takes place entirely over the virtual landscape. This removes the need for third party middlemen (i.e. banks and the like) to have any role in financial transactions. It helps to speed up the process, which is a notion that bank users have been battling with for years now.
The decentralised nature of cryptocurrencies make them a genuine contender for the “future of currency”. It can be overwhelming to understand, and websites like ICO Toplist are thankfully there to help unravel the intricacies of this (still relatively fresh) innovation in the international financial industry.
Why currency is set to decentralise entirely
Cryptocurrency has faced its fair share of trials and tribulations, having only recently begun to emerge from the dark woods. The decentralisation of currency is the future for one simple reason: the modern world is changing. With every passing day, we move steadily more and more towards a digital future.
Every aspect of modern world is being exceedingly paved with digitalisation and technological proficiency, and the same is – and will continue to – happening in financial currencies and the way we handle them. To keep up with the way of the evolving modern world, currency must adapt. So, cryptocurrency continues to decentralise the financial sector, piece by piece.
Just the beginning for cryptocurrency
Millennials are definitively a driving force in the growing popularity of cryptocurrency. This is a generation that has grown up immersed in and surrounded by technological advancement, and they expect that same convenience and efficiency to be a prominent force in every aspect of their lives. This is especially true in the financial aspect of their lives.
Cryptocurrency has found its footing resting on the shoulders of a generation that are more than up to the task of lifting it to its potential, and helping it to elevate further and higher, on an ongoing basis. This is just the beginning for cryptocurrency, and it is a wild start to what is poised to be an exciting digital revolution.