In the past, the closest that systems went to become cashless was credit cards and wallets such as PayPal. But even these still represented real cash that people must have in their accounts before transactions can commence.
Now, the new blockchain technology has ushered in the era of a truly cashless society. In 2009, Satoshi Nakamoto introduced the blockchain technology that has now made it possible to operate completely cashless.
Cryptocurrencies and their applications
After the launching of Bitcoin in 2009, over 1100 new cryptos have entered the market. Though they were initially targeted at helping to make payments easy, faster, and cost-effective, they have demonstrated the capacity to achieve more.
Every new crypto comes with additional features that help to achieve a new goal. From Bitcoin to the latest Zcash and Bitcoin Gold, here are the main things you can do with them.
- Helping to advance media work and publications
- Medical research
- Education-related research
- Artificial intelligence
- Space science
- Online marketing
The growing demand in the crypto world
Many people and institutions are running to cryptocurrencies to cut cost and raise operational efficiency. Indeed, even top multinationals including banks such as JP Morgan and research firms are firmly ingrained in cryptocurrencies.
The demand for the cryptocurrencies in crypto exchanges has been surging progressively. As more people understand what they can do with cryptos, this demand is expected to continue growing and make the globe a truly cashless society.
Today, the most expensive cryptocurrency asset is Bitcoin with a value of $8248. Its market capitalization has also been growing steadily to hit an all-time high of $137,750,374,163. The market is bullish, and the Bitcoin is expected to hit the $10,000 mark by close of the year. Here is a list of other cryptos that follow Bitcoin based on market capitalization.
- Bitcoin Cash
No matter the angle you look at it, people are now accepting that an alternative to fiat currencies is possible. Cryptocurrencies have given us a new way of looking at transactions, enhanced a sharing economy, and opened new methods of earning handsomely. Do not be left behind.