Why Digital Currency is needed?

in blockchain •  6 years ago  (edited)

Those of you that are here already see the benefits of owning some sort of digital money. It is an inevitable step forward, and society on the whole is yet to catch up.
However, after seeing multiple banks being bailed out due the irresponsible selling of sub-prime mortgages by the same bankers. It is clear that our current governments will not allow the financial institutions of today to fail (a necessary part in the economic cycle of brushing away bad businesses, allowing for new, more productive companies to take their place.)

Let not forget the several rounds of QE that central banks still needed to print and pump into the economy. In the end, it is just making worse an already difficult situation.

Alternatively, any digital currency would never require a bailout, as it is not physically possible due to their decentralised nature.

No chance of QE either as it's not possible to create more digital tokens due to the coding - Distributed Ledger Technology.

GBP gone.jpeg

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Congratulations @ravz50! You received a personal award!

1 Year on Steemit

Click here to view your Board

Do not miss the last post from @steemitboard:

SteemWhales has officially moved to SteemitBoard Ranking
SteemitBoard - Witness Update

Support SteemitBoard's project! Vote for its witness and get one more award!

Congratulations @ravz50! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 2 years!

You can view your badges on your Steem Board and compare to others on the Steem Ranking

Vote for @Steemitboard as a witness to get one more award and increased upvotes!