There is a new way of exchanging goods, services, information, and much more through computer code. This would be the cryptocurrencies that have grown over the past eight or so years. Currencies such as Ethereum have started to rise to remarkable of USD value in just under three years’ time. The exchange is pure and unobstructed without middle men or processing charges. Information is exchanged as fast as an internet connection can provide.
This is why these new currencies grow in value. It is because they are worth what the computer coding industry has that is better than money: it is a totality of needs communicated and accomplished through a meticulous network. It is essentially the worth of the development for each given blockchain project. While this is not the entire explanation of how cryptocurrencies work, it at least gives an idea of what backs the currencies.
Many companies and vendors have switched to using Bitcoin and other cryptocurrency for goods and services. It works faster and better than other forms of money and it has no political ties or taxes. This bodes well for both sellers and buyers and, since it is a buyer’s market, there is mutual benefit for mutual gain.
For example, when a few different groups are starting different projects, but each has a part to contribute to the other companies, this means all can work together for better success. They can set up their own blockchain and trade goods and services within their own group, creating their own currencies and using existing cryptocurrencies. As the mutual activity of these companies becomes prosperous, so does the value of their currencies.
It is a bit confusing. For most people, it is just a matter of getting in on the buying of the proper cryptocurrencies that will be gaining in value over the years to come. For many people, this could mean a rags to riches story, which is sorely needed with the misappropriation of wealth in this world. As it becomes clearer that present methods of commerce fail miserably, it is possible that digital currencies will become the only way to go.
It all remains to be seen. For the moment, we buy and sell Ethereum, Bitcoin, and others, all for different reasons.