When it comes to emerging technology, tech giants around the world leap at the opportunity to create and innovate using brand-new systems and solutions.
Blockchain technology and cryptocurrency are no exception. Since their inception in 2008 and 2009, respectively, the two innovations have made significant waves globally.
Their impact on the world began first in the financial sector as an alternative to traditional currency. Now, digital currency and distributed ledger systems are being widely implemented for countless different reasons.
They span across many industries from shipping and receiving to retail. In fact, some countries are even beginning to use blockchain technology to facilitate government practices.
When crypto first emerged, it was met with a great deal of speculation. Many individuals did not believe it was here to stay and therefore avoided it entirely.
Though, its mass adoption is now indicated more than ever. Bitcoin ATMs are popping up all over around the world, and retailers (and even entire shopping centers) are beginning to accept digital currency as a valid means of payment.
Furthermore, celebrities, public figures, and thought leaders from around the globe have shown their support for crypto and blockchain through investments, involvement, and more.
As technology around the world continues to evolve, so does cryptocurrency and blockchain. As such, they have become key features in many notable businesses from startups to enterprises on a global scale.
Beyond just their business benefits, they also have the potential to disrupt economies in a significant way. For example, countries who are subject to inflation within their local currency are beginning to turn to crypto as an alternative.
Digital currency allows individuals to exchange funds directly from one person to the next without the need for any third parties. Though this may seem more necessary in some countries than others, the impact can be significant.
Blockchain technology and cryptocurrency and impacting countless individuals, companies, industries, and areas around the world. Find out how and why it’s important.
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