We are on the verge of the digital age. Technology is proving to be very powerful as it enters different industries including finance. The cashless age is about to come and the first signs of its domination are cryptocurrency.
Crypto-what? What is exactly cryptocurrency? This is a digital asset that is designed to become a medium of change. It uses cryptography, or as Wikipedia defines it: “…the practice and study of techniques for secure communication in the presence of third parties called adversaries.”
In layman’s term, cryptocurrency is the money for the modern age. It is not governed by laws of banks and government and purely relies on the power of the internet to confirm its value. How should one use a cryptocurrency? Below are some examples of transactions that you can do when you have bitcoin and another type of cryptocurrency.
Oddly enough, even though it is not governed by the authorities, cryptocurrency effectively promotes ethical business. Because blockchain, or the technology that governs the whole currency, manages to track every business transaction, those who are working to get paid will surely have the receipt to get the currency that they deserve.
More environmental friendly
Those who are all about loving the environment is in for a treat. The cashless society that we are seeing on those sci-fi Netflix movies is about to come to life with cryptocurrency. The all in the internet business transaction enables cashless transactions, which means less paper money that can affect the environment. Add to this, cryptocurrency allows you to buy solar power points that can help you in the future.
Another treat that cryptocurrency can give you is the ability to book flights, anytime and anywhere, even when you don’t have the actual money to do so. There are now websites who are accepting bitcoins as payment when you book a flight or make a hotel reservation. You can now go to Paris and visit those romantic sights or have a wild weekend in Miami. All without shelling out cash.
Want to pursue Master’s Degree, and yet you don’t have enough money? But you got a few bitcoins up on your laptop? Then you are in for a treat. There are now websites and scholarship funds that can set up your education just using cryptocurrency. Get your degree anywhere in the world may it be in the United States or even Finland.
Finance is not the only industry that’s taking new heights thanks to modern technology. Advertising is changing is ways too. You know those banner ads that you always see on websites. Some companies are willing to do everything to get relevancy nowadays. The best way for them to get it is to pay websites and content publishers bitcoin. It’s actually a win-win situation for advertisers since cryptocurrency is very easy to track which means they can figure out which engagement is working and which ones are not.
Websites such as Go Fund Me or Kickstarter allows actors, graphic artists, and other performers to have their supporters give them money to fund their next projects and continue what they are doing. These websites are also now starting to accept bitcoin as payment. People can now fund their favorite artists and see more of their talent. This also works for charities. Charitable institutions can now create their own account and provide for their own without any hindrance from big institutions that only give them some parts of what they earn. Cryptocurrency is actually helping in stripping away corruption from these very important institutions.