According to what we have learned from many sources and experiences, money is a paper or metal object with values written on it and used to buy a good or service for centuries. Money, which is used in every field from the most basic buyer-seller relationship where mutual purchase and sale transactions take place, to the most complex transactions, is a medium of exchange that has survived to the present day. Of course, we know that these exchange transactions were carried out with precious assets such as gold and silver before paper and even coins. In short, money is a necessity in human life. So, what is the place of cryptocurrencies, which are being used frequently today and in the future?
If we accept that money is a means of exchange, the crypto money that we have come across in recent years is a new alternative means of exchange for everyone. The difference from the understanding of money up to now is that it is a digital economy tool instead of circulating from hand to hand. As it seems, it has attracted the attention of people, especially investors, and it seems that it will continue to attract.
Countries have not yet made an effective regulation regarding these digital currencies, but the interest in this issue is increasing worldwide. In other words, these days when the discussions are intense, it seems that it has even started to show its effects in the crypto finance sector. In fact, surveys have started to be made on this subject, and according to the data received, the belief that crypto money, which has become the favorite of large companies and investors, will be the currency of the future. In this way, it may not be possible to stop the progress and it seems that crypto money can rule our lives in the future. In fact, a report of research and surveys states, “Participation in the era of digital assets is not an option, it is inevitable. Leaders only have to decide how to use digital assets and the new global financial services infrastructure to their advantage.”
So, are the opinions about crypto money always positive? Of course, not
Another issue that the same survey sheds light on is the fact that despite this necessity, the transition to digital crypto money will not be that easy due to existing infrastructure problems. It has been determined that some of the respondents consider the lack of infrastructure to be the biggest obstacle for the transition to crypto money.
It should not be forgotten that crypto money is a brand-new alternative currency, but it is also digital and virtual. In other words, cryptocurrencies, unlike the money in the banking system, are decentralized and therefore transactions are carried out by a system called a block-chain. It was thought that money could create an element of mutual trust, since there was no intermediary structure as in the banking system. However, when it is examined from the point of view of the system, it is foreseen that since it is a reliable system, there may not be anything that would pose a problem in terms of transactions. In short, heads are a bit confused, and people seem to be divided on this issue.
Cryptocurrency transactions are, in a way, computer files and transactions are made from these files. The most well-known cryptocurrencies are bitcoin and altcoins. It has an important place in the worldwide popularity and development of this currency. Especially in recent years, the reasons why this currency, whose development has become widespread, are popular with people, are being investigated by many structures.
With the effect of Covid-19, the increase in shopping habits on the internet and the different financial systems in many countries, crypto money has already started to partially manage the economy, whether it is wanted or not. Although there is an intense effort to supervise virtual currencies and the companies that create these assets in Europe and the United States (USA) at the moment, due to changing laws, environmental concerns and competition caused by the central banks of the countries, the rapidly developing and many entrepreneurs are different. It is also thought that it can undermine the crypto money markets, which can open up opportunities.
Cryptocurrency also has to be evaluated in terms of environmental sensitivity, and researches are also carried out in this direction. It is not easy to change a system and it is necessary to look at it from every angle and approve it. According to current data, cryptocurrencies are not very environmentally friendly due to their high energy consumption. As you can see, it is a huge economic structure that provides the flow of transactions without an intermediary institution such as a bank. In this system, transactions are carried out by solving complex mathematical problems to many computers, which require an advanced technological infrastructure, instead of banks. At this point, everywhere and everyone needs a computer for the system to work properly! It should not be overlooked that so many computers will undoubtedly run-on electricity.