Cryptocurrency Demand and the Cashless Society

From The Far East to America and Europe, the current big thing is cryptocurrency. Though many people find cryptocurrencies as a new thing, the digital currencies have been around since 2009 when Satoshi Nakamoto ushered Bitcoin.

The blockchain technologies are designed to help transfer money instantly. Nakamoto 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 cryptocurrencies have surged and hit 1,100. To put it right, this is supersonic speed. Now, the cryptocurrencies are defining every sector, and you should not be left behind.

Blockchain technology is the ultimate solution to most issues facing humanity

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

Cryptocurrencies 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 blockchain 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 blockchain 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 Cryptocurrencies 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 corporates have already joined the boat. Recently, JP Morgan (a multinational bank) joined the Zcash network. In other cases, startups are raising millions of dollars in minutes or hours using the blockchain technology.

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

Bitcoin is the most traded cryptocurrency. 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 cryptos that make it to the top ten based on market capitalization include

  • Bitcoin
  • Ethereum
  • Bitcoin Cash
  • Ripple
  • DASH
  • Litecoin
  • Monero
  • Neo
  • Ethereum Classic
  • IOTA

The fast growth of cryptocurrencies demonstrates that the globe is moving towards blockchain 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.

                Notice! All currencies are in INR.