The future of currencies in a digitalized world.
As e-commerce has come to the forefront of how we purchase goods and services, digital currencies such as Bitcoin have risen as a means of exchange for payment. Bitcoin, unlike other currencies, is not regulated, and therefore its value has skyrocketed. Throughout recent history, we have relied on banking institutions to hold our money, but what happens when they are no longer needed? Can we rely on digital currency on the same scale? Banks are ensured; but how are we supposed to trust digital currency? What about security issues with digital services, i.e., breaches and hacks? There have been numerous “boom and bust” economic cycles in the past. Are Bitcoin and similar entities the future or a potential bust?
What about your own personal experience? Have you or your friends invested in digital currencies like Bitcoin? Would you do so in the future and under what circumstances?