Cryptocurrencies - The Future Economy?

 Why Cryptocurrency?

Bitcoin - Open source P2P money

For the most part of history, the world's economy was largely controlled by a single force, whether it be the Church or the Government. Bringing everything to a cyber-platform enables us to eliminate multiple fallacies that regular modern day currencies provide.

Let's use Bitcoin as an example for the framework of benefits.

Benefits:

- Fixed (and limited) supply

    Unlike 'real' currency, Bitcoins cannot be created. This reduces
    the risk of inflation.

- One to one Transactions

    Essentially 'cuts out the middleman'. No brokerage fees, no
    paperwork, no commissions are needed.

- Confidentiality

    The conventional system (cash) can be monitored by external
    agencies each time you make a transaction. This may lead to
    examinations of your financial history for certain transactions.
    Cryptocurrencies follow a block-chain model (decentralized record
    of transactions), and is protected by effective cryptography.

- Full Ownership

    You won't need to worry about the risk of the third party
    exercising power over your assets!

- Easier International Trade

    Cryptocurrencies aren't subject to exchange rates, etc. as they
    are all on the same platform.

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