Lydians have invented the money concept, before them, people had used to trade their stuff to buy and sell. Since then, humanity had huge technological improvements. Therefore, the structure of societies has changed in the meantime. Now there is this concept called Cryptocurrency, which people are using to buy, sell and trade just as physical money. But the question is, will Cryptocurrency take over the world? Will the money that humans use in their daily lives be replaced with digital money?
Firstly, it is important to know what Cryptocurrency is. Cryptocurrency is a virtual currency that is designed to work as an environment of trading through a computer network that is not connected or associated with any bank or government and it was made directly following the 2008 worldwide monetary emergency as a way for individuals to control their cash themselves, without depending on organizations, or legislatures and their charges and controls. This system is secured by cryptography, which makes it nearly impossible to counterfeit or double-spend the money.
Now it is time to answer our questions. It can be thought that Cryptocurrency was not something that people needed; it just came out of nowhere. Although I support this idea, the necessity of money the money at the times that it got invented is arguable. Money was not a must in the past, it was invented to have a more organized society. Now the same can be said for Cryptocurrency, there is already the physical money that we use in everyday life, and it is so organized that humans did not feel the need for this new digital currency system until now. One of the main reasons Cryptocurrency is being invented is the technological revolutions. Humans usually use technology to make things easier to use or faster to progress on. Considering that physical money is something that must be stored, it is harder to transport it from one point to another. But something digital can be transported to anywhere in the world without any extra effort, which is an advantage of Cryptocurrency when compared to physical money. This points out the fact that it might take over the world.
Examiners gauge that the worldwide cryptographic money market will dramatically multiply by 2030, hitting a valuation of almost $5 billion. Whether or not they need to become tied up with it, financial backers, organizations, and brands can’t disregard the rising tide of crypto for a long time. Yet, crypto apparently can’t get away from mysteries anyplace.
To sum up, just as happened many centuries ago, the world is changing, and Cryptocurrency is growing faster every day. In my opinion, the digital money will take the place of physical money in the next 10 to 20 years.