The Future of Cryptocurrency

Cryptocurrency and its future

When it comes to cryptocurrency the first thing we think of is Bitcoin. Bitcoin is a cryptocurrency which launched back in 2008 as a response to the world’s financial crisis. It was developed by Satoshi Nakamoto. The whole idea behind its development was to remove dependence on financial institutions and their ilk, the very persons who led to the financial collapse back in 2008.

But for most of us the whole concept of digital currency just does not sink in. I mean it is not something you can hold in your hand, it does not have any symbol like the Dollar attached to it, then what is it? Will it mean something when you hold it or is it nothing much than an idea? There are nearly 1,800 to 3,000 cryptocurrencies out there depending on the type and day of week it is. The vast majority of us as well as businesses do not know what to do when it comes to this form of currency.

The Wild Wild West of Cryptocurrency: 

Cryptocurrency is like the Wild West for many people. They just do not know what to make of it. To take it seriously or accept it as something of a passing fad?

But cryptocurrency may well be a part of our future. The traditional forms of currency have not undergone a change since the early 1900’s. only the laws and policies governing currencies have changed.

Just like everything in this world, change will happen maybe not now, but maybe in the future. The only constant is change.

For cryptocurrency to happen everything is already lined up. The technology, the networking is all there, the only thing not there is awareness and whole- hearted adoption which may not be so easy to achieve of the two.

Launch of a new type of Cryptocurrency: 

Recently a new form of cryptocurrency was launched which goes by the name LightPay Coin.

When it comes to Bitcoin, the first two things people are really worried about are the speed of verifying the transaction and the anonymity of people behind those transactions, which LightPay Coin seems to clarify.

Two months after LightPay Coin cryptocurrency launched, it was being used internationally with a market value of 8 million. You may be thinking 8 million what, well there is no real answer to that because cryptocurrency’s don’t really have any denomination.

A new masters programme to make you cryptocurrency savvy? 

When cryptocurrency is launched a new form of skill that will be high in demand is for people to know how to use it and this has led UCF’s College of Business and College of Engineering and computer Science to develop a 30- credit hour masters of Science in Financial technology.

What happens when Cryptocurrencies are used? 

The most important purpose of cryptocurrency is to remove the need of a third party. But that will not be totally possible as the Securities and Exchange Commission will need to regulate volatility to a certain extent.