Present world is the world of technology, progress, efficiency and digitization. In the past times the work that needed hours and some days too can now be done just at the snap of fingers. We like it or not, technology has ingrained itself into our lives so much that it now seems impossible to get himself out of the captivating power of the growing technological machines. The economy of a country that was run on the share market activities using the barter and receipts feature has now changed to the digital shares and equities. Gone are the times when one used to listen to the transistors to get to know about the happenings in the market and economy. Nowadays just use your phone or your personal desktop or laptop notebook and within a blink of an eye you will get the updated and correct knowledge of happenings and processes around not only of the parent economy but of the surroundings as well.
Digitization led the growth in social life but also ingresses itself into the most important pillar of the economy. By the pillars one means the reserves of the country in the form of printed fiat money, minted coins, physical reserves and physical gold. Now the fifth pillar is here called by the name digital currency or digital gold that is no less valuable than the physical form of gold. This article helps you to make your opinion to justify whether the digital currency is on its way to make itself legit. In the present era the Bitcoin is one of the most famous digital currencies that takes the lead in the day-to-day market news, so the reference of the same will be the Bitcoin. If you want to invest in bitcoins, you can visit cfdsociety.org
Some of the opinions are as under:
- Secrecy of reserves: Being in the form of a digital reserve it is indeed an efficient way to keep your reserves secret. By secrecy of reserves, one means secrecy from the Governments authorities, regulatory bodies and other taxation authorities. As in today’s world the economic authorities are very much concerned about the circulation of black money so it is a secret way of keeping your reserves from the eagle eyes of them.
- Availability of services: The bank sector is growing and despite being a strong network of it in a country there still remains some parts of the country where the services can’t be provided due to one reason or the other, maybe it’s due to the difficult terrain or the communication gap between the remote and the urban areas. But in case of Bitcoin being a digital currency it is possible to transact and use the services form remotest areas of the country or the world because it needs no physical banking asset to get the work done. One can easily transact by the click of a mouse or the fingertip.
- Decentralized: The word decentralized means that the governing or the regulatory body of Bitcoin is undefined unlike in a market economy there is a bank mostly the central type regulating a certain economy using fiscal or monetary policy.
- Non multiplicative and replication of transactions associated: Bitcoin using the famous blockchain technology assures the non-replicative and secure transactions between peers to peers.
- No mediators: The blockchain technology assures that there is no need for mediators to get the work done. It’s just you and the peer-to-peer server.
- Confidentiality: As described earlier the point-to-point transaction helps secure one from the questions of why and where. You can use the transaction for the services you need. There is minimum risk making it a reliable platform for making and creating investment.
The bottom line:
Digital age is just in its initial phases and has changed a lot around the globe. One only has to sit back and relax to see the changes it will lead. Similarly, the Bitcoins are taking over though slowly and steadily but one can see the future of it through naked eye and it doesn’t show any down graph.