Cryptocurrency is defined as a digital currency that used a decentralized system to manage transactions. It can also be called a virtual currency e.g Bitcoins, STEEM, TRON, Ethereum and so on. This digital currencies also refer to as digital coins are used as a means of exchange on the internet.
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HISTORY OF CRYPTOCURRENCY
The history of decentralized cryptocurrency was trace back to 2009 when Bitcoin was created and release by Satoshi Nakamoto although not many people were aware of cryptocurrency at that time and some do not really see a future in it but few saw it and engage in it. In the year 2017 that is, eight years later the cryptocurrency move up when one Bitcoin become 20 dollars at this point alot people began to see future in cryptocurrency and many cryptocurrency coins began to surface, now we have more than 6000 coins use in crypto space as means of exchange.
The future holds alot of great things for cryptocurrency, over the past decade will have experience alot of dramatic increasing and awareness of cryptocurrency and as we have it now many are now involve in difference platforms to generate and trade with difference cryptocurrency coins. The same goes for the next decade we are going to see alot of positive dramatic changes and some of them are
BUYING GOODS WITH CRYPTOCURRENCY COINS
For now cryptocurrency is used as a means of exchange on the internet but gradually supermarket and some other shop have start adopting the use of cryptocurrency to buy goods. In the years 2030, I see a world where you can enter any shop or provision shop and transfer some coins from your wallet to the sell man or woman then proceed to pick the goods you need.
BANKING AND FINANCIAL INSTITUTION INCOPERATING CRYPTOCURRENCY
Banking and financial institution will adopt the use of cryptocurrency in the sense that they will have an account for deposits and saving of cryptocurrency in other to make profits during customer's transactions. As it stands now we already have a Bitcoin ATM machine design by Jordan Kelley, so I see in the nearest future difference banking sector begin to install a better version of this cryptocurrency ATM machine for their customers to make use of it.
MORE COINS COMING INTO LIMELIGHT
I also see a future where more crytocurrency coins like STEEM will also be well recognize like Ethereum, Bitcoin. The latter coins stated above dominate the cryptocurrency world because they were the first coins to be decentralized and run on a blockchain but in years to come I see other coins especially STEEM coming into such limelight. Not only that, just like difference prediction about the future rise in the price of Bitcoin, I also see an equivalent rise in other coins more especially STEEM.
GOVERNMENT BECOMING MORE INVOLVED IN CRYPTOCURRENCY
The fact that government are involved in cryptocurrency cannot be deny with programs like Central Bank Digital Currencies already coming up in some country like China, US and so on. In years to come the cryptocurrency world we experience more involvement by government of all nation and that will really help to enhance other banking institution to incorporate cryptocurrency in their system also.
CONCLUSION
In conclusion, we are looking for to a day that we will step into a supermarket and buy goods without the use of credit card, ATM card and cash but make use of cryptocurrency and believe me the day is already at hand.
The points explain in this post are some of the things to look at for in the future of cryptocurrency.
Reference
- https://aboutmanchester.co.uk/what-is-the-future-of-cryptocurrency-going-to-look-like/
- https://readwrite.com/2019/08/05/10-fabulous-predictions-for-the-future-of-cryptocurrencies/amp/
- https://www.exodus.io/blog/future-of-cryptocurrency/
- https://en.m.wikipedia.org/wiki/Cryptocurrency
This post is written as a reply to : steemcryptochallenge by @steemitblog
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Well, I see Central Banks implementing CBDC in the foreseeable future. Some of the countries like Europe, UK are already doing advanced research on this.
If that happens, then it will be a major breakthrough for the crypto industry, even if CBDC a permissioned thing, it will still induce fundamental value to cryptos.
Thank you.
#twopercent #india #affable
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This is an easy matter for us as a great nation, but how the readiness of society to face the ongoing developments is very important. Both from the mental side of the community to adequate infrastructure must be sustainable so that the formation of advanced community thinking. This is because the challenges ahead are entering the Industrial Revolution era
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In the world now there are about 11221 cryptocurrency ATM machines according to coinatmradar in 71 countries. Our neighbor country India also has a bitcoin ATM. After RBI (India's Central Bank) lifting restrictions against crypto in recent, now it legal. But still, they have considerably high fees and also have limitations for withdrawing and deposit size.
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When bitcoin was first created, people didn't take it so serious but now it has become a serious cryptocurrency
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Hello friend, an excellent post, the truth is I agree with you the future of these cryptomonies looks very promising, they are more and more known and the government is aware of it, of course at some point they will try to manipulate it, but I doubt very much that they will succeed.
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