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The world is moving in a very fast pace in the are of innovations and technological advancement with transitions into various digitalised online options of transacting.
Cryptocurrencies arise lots of expectations of its progressive impacts on financial disruption in conjuction with social disruption affecting how many things are done.This process will take time and periods of trials and errors but progress is assured if the society embrace the change.
Existing challenges like corruption, low government work accountability,inadequate transparency,few economic opportunities, unemployment,income inequality,unfairness of rewards distribution in business;can have a new perspective of approach in solving them.
Despite of all this,many crypto critics and skeptics still consider Bitcoin like the tulip mania,though they forget to see the consintency growth of crypto world over the years in various ways. Crypto currencies emphatically offer monetary function as well as serve as digital assets along side depicting decentralized environment.
On the other hand,though having different aims,many crypto currencies share various qualities with Bitcoin ( most traded crypto currency) with implementation of smart contract being their prominent purpose.Overtime, it is certain to assert that crypto currencies have proven to be a store of value with major crypto currencies (Bitcoin,ethereum,Litecoin,USD Tether,etc) being the proof while NFT's makes digital ownership practicable.This as earned te confidence of some contries (El Salvador and the Central African Republic) to accept Bitcoin as legal tender.
From buying two pizzas for 10,000BTC in 2010 to each of those bitcoin being worthy more than 20,000USD (as per the moment am writting) in 2022,crypto currencies always finds it self in a winning position against criticism.
Blockchain technology with the surrounding infrastructure has great potential to help individuals and the groups of people(citizens,nations,etc) to improve their way of living.
With different cryptos developed and new ideas birthed ,various aspects are being solved,for example,Etherem helps development of architectures upon which decentralized web applications are constructed.With consistent striving,blockchain technogies will mature and at least meet the expected target of solving various societal problems.
Given the current tech advancements,project forward fifty years from now, bitcoin or the dollar,which one will you choose?
