Decentralising currency on a global scale


In a world that is exceedingly obsessed with increasing its grasp on digital innovation and technological advancement, it should come as no surprise that practically every industry has gone through its own revitalisation along the way. In the world of finance, for example, we are currently seeing digitalisation disrupt the industry in various ways, all of them seeking to improvise the sector in one way or another. One of the latest, greatest, and most influential ways of all is the decentralisation of global currencies. This is a relatively fresh concept, and even still it has captivated the world, inspiring in-depth conversations and heated debates alike, and driving home the truth that, like it or not, digitalisation is coming for the world in all ways.

The introduction of a digital approach to currency

And here enters cryptocurrency. In short, cryptocurrency is essentially the decentralisation of global currencies that traditionally run physically, and through third parties (i.e. banks). Essentially, cryptocurrency is a “digital asset designed to work as a medium of exchange”. What this means is that cryptocurrencies like Bitcoin are the digital age’s iteration of traditional currencies of exchange. But this has innovative digitalisation has not come without its price. Bitcoin price surges and falls, depending entirely on the market. Currently, there is a rise in Bitcoin value, but the nature of the market is still so new that it is likely to surge and fall again (perhaps even many times) before finding its footing for the foreseeable future.

The gripping young history of cryptocurrency

Despite only having burst into existence a few years ago, cryptocurrency is gaining traction fast. When it was first introduced, cryptocurrency was given global recognition as the latest innovation in the finance industry, another attempt to reroute the way that we approach and deal with our finances. Many people expected it to success, and many people expected it to fail. Over time, cryptocurrency proved its value time and again as a promising approach to currency and assets exchange in the near future. It is a notion that is continuously challenged, but despite the waves of hurdles it has overcome – and continues to overcome – cryptocurrency is here for the long haul.

Digitising the future of the finance industry

Around the world, digitalisation is hitting the finance industry hard in multiple ways. This is not new news. What is new, however, is the realisation that the generations that make up the majority of the global market now are the first generations who have grown up immersed in digitalisation in all forms. These are the individuals driving the digitalisation of the world – and that includes the finance industry. With future leaders like these, there is almost a virtual certainty that the future of the finance industry is going to be shrouded in digitalisation and technological advancement and further development. The world is already shifting in that direction, and the more strongly it pulses onward, the more in control these younger generations become, the surer the pull is going to be.

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