What Cryptocurrency has taught us so far!

The cryptocurrency revolution has taught us some powerful messages in relation to business structure, security and technology, but most importantly it has taught us to think and to question everything that we know about the world’s financial structure and many other aspects of business.

It has also changed us on a personal level, it has our minds ticking, It’s made debate and talk about things that we wouldn’t have given a second thought about before It’s got us watching the investment market daily and suddenly the after work drinks chat is dominated by Bitcoin, blockchain and all things crypto!

Whether you have invested in the space or not, there are some important messages that the world of cryptocurrency has taught us, which, have set us up for a brighter future.

Business adaptability

Satoshi Nakamoto could never have predicted that releasing the idea of Bitcoin to the world would have created such energy, power and innovation. The crypto space is now about more than just replacing money and making a profit from investing. There are now over 2000 digital coins in the market today, most of which are cryptoassets.

These cryptoassets are making use of the blockchain technology not only to transform the way we do business but also to help transform the environment. We are seeing cryptoassets that focus on cutting energy usage, reduce carbon footprint and encourage people to exchange plastic waste for tokens, all of which have a positive impact on the world.

As new cryptoassets spring into the market, existing businesses are starting to focus on how they can implement blockchain technology into their business structure. A new career path is being created, a career path with a difference. One that is self-taught in real time and requires adaptability and determination, not a PHD!

There is an alternative to the centrally managed system

Who would have ever thought it would be possible to create an alternative to the traditional banking system that is not manipulated by governments or organisations? One that offers seamless transactions across international borders, with lower transaction costs and eliminates the opportunity for fraud? Well, crypto has already done that!

A future where things will run in a trustless, permissionless, all inclusive decentralised environment is not far away. Then the role of the government will be to provide governance and support to these decentralised run systems. We can even say that the world will be more connected and people will connect and manage large systems together, such as the power of blockchain and decentralisation. The divide between rich and poor will start to become smaller since everyone will have an equal chance to participate and contribute regardless of age, sex, social class, religion and country.

Money doesn’t make the world go round!

Cryptocurrency has made us question the whole concept of what money is and where it gets its value from. Money is just a concept that a large number of people starts accepting as a store of value, medium of exchange and unity of measure. It is not what the governments and the elite few control or manages. It has made us realise that modern finance is broken, that banks and governments devalue money and realistically it is not going to be repaired any time soon. And so we have to look towards our own alternative for a better future!

Additional Security

Two Factor Authentication is a method of confirming a users identity, the process requires you to confirm two factors to access your premium data services — one that you know ( password ) and one which is usually a code that is sent to something that you have such as your mobile phone.

The process was around a little before the dawn of Bitcoin, however, not many people knew about it, or used it. Since the crypto space was developed, the term is almost as much a household name as ‘Bitcoin’ itself. Now almost everyone is using it. Thanks to cryptocurrency you are now aware this security exists and most of you will already have it assigned to your email accounts, bank account and everything else that requires a password, making your online presence securer than ever before!

You can trust the internet

Every day we log into mobile apps that store and send important personal information. Even the core functions of our governments are run online. Yet Identity theft is escalating and becoming more sophisticated by the day. Almost 500 people per day complained of identity fraud in the UK alone in 2017. And a question we have been asking since the beginning of the internet remains, how can we trust what is actually happening online?

The answer is Blockchain technology! The revolutionary new technology records and stores every detail about digital transaction, exchange value, product movement and private data that is recorded on the digital ledger. Once this data is entered it is locked away and can’t then be edited, this is what makes it almost impossible to hack. The power of blockchain’s digital technology can be applied to every kind of digital record and we are already starting to see some big players such as, Microsoft and IMB implement this technology into their business structure, creating a safer online environment for their customers. If every business does this, we will start to see much fewer cases of identity theft. With blockchain technology the Internet is more free and accessible by everyone. There are no embargoes, no restrictions placed on certain countries or a regions — everyone has full rights to global information, knowledge and systems.

Education

Cryptocurrency has taught us the importance of education, self-study and determination. Bitcoin has placed value on self-study, it has shown us that the human race can do anything if we put our minds to it. We can teach ourselves new skills without academic support, pass marks or official qualifications and can still make a difference and pursue a career. Cryptocurrency has put the spotlight on our own intelligence level and ability to adapt to change.

 The concept of cryptocurrency has already set us up for life, It’s got our minds ticking, it’s making us question world order and it has educated us. It has encouraged us to become better people, to break barriers, to challenge the norm and it has made us more intelligent. There is not a single security violation, hack or market slump powerful enough to ever take that away!

If by chance the most powerful hackers in the world destroyed every trace of cryptocurrency and blockchain technology out there tomorrow, you would still have the knowledge that cryptocurrency has given you — and this is just the beginning!