With the improvement of technology, new things started to popular because there is no global currency on the internet. Every currency that is for the countries depends on a country but only one currency that is not dependent on countries is cryptocurrency. İn 2009 when bitcoin was launched by Satoshi Nakamoto. He creates cryptocurrency for fixing the problems for traditional currencies and lots of advantages like the development of the metaverse, Nft or web 3, etc.
Nowadays famous businesses men and companies like Elon Musk(tesla), Jack Dorsey(Twitter), Mark Zuckerberg(Facebook and Microsoft have big investments in cryptocurrencies, especially for metaverse coins, for example, Elon musk who has a big role about improve the cryptocurrency is accepting the dogecoin it means that maybe after 10 years many companies will accept cryptocurrency, therefore, there is an idea about cryptocurrency will our future money, for now, it has some issues mostly about electricity and governmental issues. Microsoft invests 69.9 billion dollars for the metaverse. They are believing that the future will be cryptocurrencies. By the end of 2021 active users at cryptocurrency is 295 million people.
There is a difference between cryptocurrencies with the normal currency. Normal money has mainly 3 roles medium of exchange, unit of value, store of value. Medium of exchange is role about to trade by giving money, by cryptocurrency you can do it to. Unit of value is the fix of the money, cryptocurrency has a problem about fix of the value because of the volatility of cryptocurrency. Store of value is the saving money for the future that cryptocurrency doesn’t have a problem about it. Cryptocurrency has advantages: transfer speed, reliable security, low fees, and 7/24 It also has disadvantages: we said it has security but it is the internet that you can be scammed by scammers. If the cryptocurrencies will be supported by the governments they can be a global currency but governments need to change it with a true decision and there is another problem mining governments took protection about it, for example, China ban mining but it has the solution to nowadays they start to use renewable sources and it decrease the usage of the electricity. Many investors are supporting the cryptocurrency and they are finding a future on crypto time that will show us the truth.
In a conclusion, crypto has some problems but they can be solved by a good decision not now but maybe after 5 or 10 years, crypto can be the next model of money.