What Is Cryptocurrency And Why Is It Important

What is cryptocurrency and why is it important

What is cryptocurrency and why is it important

The hype is real!

And with many notable people comparing the crypto space to the early 1990’s internet space, it’s hard not to become excited and optimistic about the potential opportunities and disruption on the horizon.

Personally, I was hesitant to buy into the hype at first, despite my younger brother badgering me to take notice for months, while the price for Ethereum continued to rise.

‘You’ve got to get in!’ he urged.

But I was traveling around the world, writing a book, and the last thing I wanted was to get sucked back in, when finally I was feeling free from the system - from America, where walls were being built in the name of greatness.

So I resisted.

But then I finished my book, and I had a dream of Ethereum, where I woke up with a cold sweat, having missed the next tech boom.

I decided to finally look into the craze, and figure out why everyone was so goddamn hyped on it.

What I found was astonishing, as I’m sure all of you are well aware.

There were millionaires being made within minutes, there were countries rattled at their core, there were prominent cultural figures tweeting and diving in and then there was the word - ‘blockchain.’

Everyone was using this cryptic buzz word to describe the phenomenon, as if it was the coming of the next Christ, but is it really as important as they claim?

The answer is yes it is important, but there’s something even bigger at work here, and it lies hidden in the other buzz word - ‘decentralization.’

Bitcoin came into existence in the aftermath of the 2008 economic crisis, obviously as a countermeasure to the control and corruption of the centralized institutions that were ‘too big to fail.’

The world crumbled, and a group of unknown’s came together to create the first iteration of the technology that finally seems to be coming out of the shadows - from Bitcoin, to Ethereum, to the ICO boom.

In a time where borders and walls are being touted as worthwhile investments, we once again see the rise of the technology poised to fight the regime of control.

The technology behind Bitcoin and all the other crypto-currencies is the decentralized blockchain.

Blockchain is a glorified ledger, nonetheless, a brilliant innovation.

What is Cryptocurrency? A Simple Explanation

But decentralization is the key here, because it’s the next step in Globalization.

The internet was phase one in Globalization, but now the decentralized blockchain is phase two, where a borderless world becomes more and more possible.

Money, data, identity, commerce, work, ownership, power and citizenship must transfer from the controlled institutional conglomerates to a global-decentralized web of stake-holders.

This is a revolution for the Global-Citizen and everything that it should stand for - namely, freedom.

Image references: