5 Strong Reasons Why We Need A More Powerful Cryptocurrency

The New World Era

Just the way a butterfly undergoes complete metamorphosis, the world is in its cycle. We go digital in all our aspects. As we move in that direction, am sure soon fiat will be phased out. It is not being phased out at present because our cryptocurrency does not address some issues.

Nearly all the coins offered fail to address the issues due to several reasons.

Five Strong Reasons Why We Need A More Powerful Cryptocurrency

Here are five reasons why our monetory system has not completely gone digital.

• Mining is expensive and not environmental friendly. Mining of these cryptocurrencies have remained for the chosen few because of being too expensive to mine. Mining needs strong machines which are not environmental friendly. Most of these cryptocurrencies then remain to be controlled by few. Not all individuals have accessed the cryptocurrencies.
• Some countries have not impressed cryptocurrencies. In order for a coin to be able to replace fiat money, it has to be accepted grobally and by all countries. However, the coins we have have not been accepted in all the world countries. Some are fighting it. This has crippled our monetory system from becoming wholly digital.
• Fully using cryptocurrency directly to buy goods from the counter is not possible. The digital coins we have cannot be used as we use fiat-buying directly across the counter. Therefore it is very hard to be able to replace fiat fully. Our digital system has failed us there 
• Not having one wallet for one person. Our digital.monetory systems allow people to create wallets anyhowly thus giving room.for scamming. Scammers create a wallet, con you with it and discard the wallet only to generate another to use to scam others. We need one wallet for one person.
• There seems to be too many coins which is confusing. We only need one coin which can be used as fiat globally. Some coins we have are known to only few people. They should be consolidated to one. Since fiat money is restricted to one country, we have numerous currencies as there are countries, digital currency should not ape the same.

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