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The role of cryptocurrencies in the global economy
Written by Davies on / Reading time: 4 minutes.
With the arrival of virtual currencies, the global economy began to change. Today, many people prefer to use cryptocurrencies instead of the traditional physical money. The main reason is that it is faster and easier to use. You just simply have to take your smartphone from the pocket.
In 2009, the Bitcoin was presented as an alternative to the physical money. However, through the years, cryptocurrencies have been consolidated to such an extent that there are already many and diverse companies that allow the payment of their products or services with cryptocurrencies. Not only with Bitcoin, there are also others like ours, DAVIES.
DAVIES is a cryptocurrency that does not have much time, it emerged in 2018. In transactions, it guarantees you:
- Immediacy: send these cryptocurrencies to the part of the world you want. In just few seconds the value that you have sent will reach its destination.
- Ease: through their App which is available for both system Android and IOS.
- Safety: it uses the blockchain technology in which all the movements you make are stored.
The evolution of virtual currencies in the global economy
The main reason that the world of virtual coins has evolved this much is because they are located in a decentralized system. What does this mean? It means that it is not regulated by any country or existing Government. That is the main difference between the cryptocurrencies and the traditional money, because the latter is always in charge of a bank.
With the world crisis that began a decade ago, virtual currencies have experienced steady progress - and continue to experience it-. In fact, they found a place in society and are already closely integrated because many people use them as a payment method for different products or services. Not only they can be used as a payment method, but you can also invest in them to increase your capital, as well as to keep it. It is a very good choice if, at any time, the global economy returns to worsen, since you will avoid future difficulties that may affect your own economy.
Cryptocurrencies are present in the world from just a decade ago and, although at the beginning the society did not trust much in their use, that view has changed over the years. Everyone was accustomed to use traditional physical money and if they didn’t pay with that money they felt uncomfortable. There was a real rejection of these virtual currencies. But… things have changed.
What are the benefits that cryptocurrencies bring to the economic world?
Its benefits are many and diverse. These include:
- Secret identity: the people who use them kept his identity a secret, they are anonymous, i.e. it is confidential.
- Security: it is a fundamental aspect because you completely trust that you are not going to be stolen. It is one of the main advantages because it generates confidence in customers.
- Prevents hacking: the movements you make cannot be hacked. This point has to do with the previous one, as what shows is that cryptocurrencies are safe.
- Transparency: absolute transparency of the transactions that are stored in a public book is achieved thanks to decentralization managed by a public blockchain. The movements are clear and there is nothing hidden. This is very important to also generate confidence.
The cryptocurrencies are the future since it improves the banking world but it is also transforming the lives of people that does not have access to banks. It affects approximately one-third of the world's population by giving them a financial tool. So, upgrade, buy them, invest in them, but don't stay behind and enjoy all the advantages that you can get with their use.