A cryptocurrency or crypto currency is a medium of exchange using cryptography to secure the transactions and to control the creation of new units. Cryptocurrencies typically feature peer-2-peer decentralized control and a public ledger commonly know as the “block chain” which records transactions. Alternative cryptocurrencies launched after the success of bitcoin are frequently called altcoins like litecoin, dogecoin or blackcoin.
Cryptocurrency is challenging and changing the way we think about and use money. Our new digital culture of faster with less boundaries will keep pushing this internet wide social and financial experiment.
It has the potential to change the way business is done. Some will be ready for the change and others will resist it to their own detriment.
This new version of e-commerce that is emerging, may come to be known as crypto-commerce. It is not just boarder-less transactions or low fees, but the responsibility that comes with the new system. Digital contracts will help to uphold honest transactions. Investing and credibility are going to change and be more accountable.
Experimenting and learning now will prepare us for the adventure ahead.