Crypto Currency Demand and the Cashless Society

From The Far East to America and Europe, the current big thing is crypto currency. Though many people find crypto currencies as a new thing, the digital currencies have been around since 2009 when Satoshi Naka motto ushered Bit coin.

The block chain technologies are designed to help transfer money instantly. Naka motto envisaged a situation where a completely free digital currency would be used to make transactions such as buying products and sending cash at very low cost.

In about 10 years, the crypto currencies have surged and hit 1,100. To put it right, this is supersonic speed. Now, the crypto currencies are defining every sector, and you should not be left behind.

Block chain technology is the ultimate solution to most issues facing humanity

While the core target for inventing block chains was to create a parallel crypto currency that was free from central authorities, it appears that the technology can now be applied virtually in every sector.

Crypto currencies are now being used for online shopping, medical purposes, publishing, media, and artificial intelligence. The European Union has already expressed its admiration of the creativity involved in block chain technology. The EU Commission has pointed that it is studying the technologies to see how it can legislate their applications to ensure the benefits trickle to all.

There is no doubt that block chain is already on the door and it is time to take a closer look. You cannot be left behind.

The trends in crypto world

The fast growth of Crypto currencies has already made some people to tag them the “next generation gold.” They appear to be the ultimate turning point towards a cashless society.

So innovative is the technology that even large corporate have already joined the boat. Recently, JP Morgan (a multinational bank) joined the Z cash network. In other cases, startups are raising millions of dollars in minutes or hours using the block chain technology.

With more crypto joining the bandwagon at a very fast rate, their value and market capitalization continue to shift. Here is the latest performance of the crypto currencies in the top exchanges.

Bit coin is the most traded crypto currency. Its price is $8,246 (the highest so far) and is being expected to hit $10,000 by New Year. The crypto’s market capitalization is $137,750,374,163. Other crypto s that make it to the top ten based on market capitalization include

  • Bit coin
  • Ethereal
  • Bit coin Cash
  • Ripple
  • DASH
  • Lite coin
  • Monero
  • Neo
  • Ethereal Classic
  • IOTA

The fast growth of crypto currencies demonstrates that the globe is moving towards block chain technology. Whether you are a corporate entity or individual, this is an idea whose time has come. Follow the trend, find out investment opportunities, and ensure to take advantage of the technology.

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