The Crypto Space: the thin line between now and the future
Wisdom Patrick
Quite a lot has happened in our world today that has threatened our survival as humans; from wars to outbreaks of new ailments, and the list goes on and on. Man as a natural being, is made to always find his way in any situation to survive, and as a result, he has not stopped innovating ways that would make his existence memorable and worthwhile.
What is Money ?
One of such ways is the exchange of goods and services for one man to the other, and this exchange token is called money; In very simple terms, money is anything that is accepted as value for
exchange, anything can be money so far it is agreed upon by the parties
involved, that’s why in the past couriers were used and people valued it for
goods and services.
Crypto is one of many of such creations. Crypto is a collection of binary data which is designed to work as a medium of exchange; better put, crypto is a creation of man to replace physical money like notes, coins and other physical things used for exchange of goods and services
Cryptocurrency as the name implies is a currency built with an element of
cryptography.
Cryptography in this case is a programming system that stores information.
This whole cryptographic element is what we refer to as a Blockchain.
This would mean the we would not need to carry physical cash or have a physical bank to store it with some bank, but we can own and keep our money by ourselves the way we deem fit, and the issue of record keeping is solved because the amount of cryptocurrency in circulation does not change, but constantly goes round, amongst other problems. Let’s leave that for now, as that is not the aim of this write-up.
The Future of Crypto:
Before now, we had the notion that the crypto space only supported buying and selling of cryptocurrencies, but the community is evolving from just buying and selling of money, but also as a form of exchange for goods and services. Sounds good yea ? Everyone can now be part of the family; w can create our own world without any barrier of space and time, but share one kind of currency — crypto.
The crypto-world is real and has come to stay.
